BEIJING, March 11,
2024 /PRNewswire/ -- Recon Technology Ltd ("Recon" or
the "Company"), a China-based
provider of oilfield services and low-carbon energy services, today
announced two recently awarded bids from a newly developed
oilfield-industry customer for the supply of electronic components
and materials used in oilfield production. The total value of these
contracts exceeds US$3 million and
represents a significant milestone for the Company.
"We are very pleased to have secured these contracts with this
new customer in the automation and electronics sector, and Recon
emerged as the preferred choice due to our proven track record,
innovative solutions and commitment to excellence," said
Shenping Yin, CEO of Recon, "This
achievement highlights our expertise and capabilities in serving
the oilfield industry and we look forward to building a sustainable
and stable working relationship with this customer."
The contracts are expected to be accretive to Recon's financial
performance and growth prospects. The Company is optimistic about
the potential for future collaboration and additional contracts
with this customer.
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.
View original
content:https://www.prnewswire.com/news-releases/recon-technology-secures-us3-million-in-contracts-with-newly-developed-customer-for-electronic-components-and-materials-302085022.html
SOURCE Recon Technology, Ltd