BEIJING, Dec. 8, 2022
/PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON) ("Recon" or
the "Company"), a China-based
independent solutions integrator in the oilfield service and
environmental protection, electric power and coal chemical
industries, today announced that a mainland China variable interest entity's subsidiary,
Huang Hua BHD Petroleum Equipment Manufacturing Co. Ltd. ("HH BHD")
was awarded a RMB3.97 million
($0.57 million) contract to provide
high efficiency heating furnaces equipment for a leading
China oil and gas company. In
total, HH BHD has generated RMB6.68
million ($0.96 million) in
revenue from awarded bids and contracts in the past fiscal
quarters.
Pursuant to the recently awarded contract, the equipment HH BHD
will supply include insulation devices, automatic alcohol injection
device for oil and gas wells and pipelines, large tank extraction
skids for processing equipment, splitters and sewage tanks. HH BHD
will also provide repair and maintenance services for heating
furnaces at the oil and gas client's oil transmission
center. All equipment to be supplied
under the contract have a two-year quality guarantee.
Management Statement
Mr. Shenping Yin, Founder and CEO
of Recon commented: "These contracts affirm our commitment to our
customers to continuously provide first-in-class solutions and
services they need to outpace their competition and succeed. The
enduring usage and high-quality of our products could be applied in
various forms, serving a variety of industries that shall help
bolster our overall business performance in the coming year."
About Recon Technology, Ltd ("RCON")
Recon Technology, Ltd (NASDAQ: RCON) is the People's Republic of China's first
NASDAQ-listed non-state owned oil and gas field service company.
Recon supplies China's largest oil
exploration companies, Sinopec (NYSE: SNP) and The China National
Petroleum Corporation ("CNPC"), with advanced automated
technologies, efficient gathering and transportation equipment and
reservoir stimulation measure for increasing petroleum extraction
levels, reducing impurities and lowering production costs. Through
the years, RCON has taken leading positions within several
segmented markets of the oil and gas filed service industry. RCON
also has developed stable long-term cooperation relationship with
its major clients. For additional information please visit:
http://www.recon.cn/.
Forward-Looking Statements
Recon includes "forward-looking statements" within the meaning
of the federal securities laws throughout this press release. A
reader can identify forward-looking statements because they are not
limited to historical fact or they use words such as "scheduled,"
"may," "will," "could," "should," "would," "expect," "believe,"
"anticipate," "project," "plan," "estimate," "forecast," "goal,"
"objective," "committed," "intend," "continue," or "will likely
result," and similar expressions that concern Recon's strategy,
plans, intentions or beliefs about future occurrences or results.
Forward-looking statements are subject to risks, uncertainties and
other factors that may change at any time and may cause actual
results to differ materially from those that Recon expected. Many
of these statements are derived from Recon's operating budgets and
forecasts, which are based on many detailed assumptions that Recon
believes are reasonable, or are based on various assumptions about
certain plans, activities or events which we expect will or may
occur in the future. However, it is very difficult to predict the
effect of known factors, and Recon cannot anticipate all factors
that could affect actual results that may be important to an
investor. All forward-looking information should be evaluated in
the context of these risks, uncertainties and other factors,
including those factors disclosed under "Risk Factors" in Recon's
most recent Annual Report on Form 20-F and any subsequent half-year
financial filings on Form 6-K filed with the Securities and
Exchange Commission. All forward-looking statements are qualified
in their entirety by the cautionary statements that Recon makes
from time to time in its SEC filings and public communications.
Recon cannot assure the reader that it will realize the results or
developments Recon anticipates, or, even if substantially realized,
that they will result in the consequences or affect Recon or its
operations in the way Recon expects. Forward-looking statements
speak only as of the date made. Recon undertakes no obligation to
update or revise any forward-looking statements to reflect events
or circumstances arising after the date on which they were made,
except as otherwise required by law. As a result of these risks and
uncertainties, readers are cautioned not to place undue reliance on
any forward-looking statements included herein or that may be made
elsewhere from time to time by, or on behalf of, Recon.
For more information, please contact:
Company
Ms. Liu Jia
Chief Financial Officer
Recon Technology, Ltd
Phone: +86 (10) 8494-5799
Email: info@recon.cn
Investor Relations
Janice Wang
Wealth Financial Services LLC
Phone: +86 13811768559
+1 628 283 9214
Email: services@wealthfsllc.com
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SOURCE Recon Technology, Ltd