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$RCON it's not shorts so much as company dilution
$RCON worth $3 but should bounce on way down
I assume the share offer was leaked by someone and thats why the pps tumbled yesterday and again today with the news. The markets are getting more and more manipulated, especially the Chinese stocks.
~ 80% drop in 2 trading days. I hope the Reddit army wakes up to this wrong doing and squeeze these jackasses.
Unfortunatley in at $7. Might take a while to recover.
Potential short squeeze this week, huge short attack caused a massive drop on good news. Low float, huge short interest and oversold conditions....perfect storm for a squeeze!
https://www.reddit.com/r/Wallstreetbetsnew/comments/nxl6rk/rcon_oversold_on_no_news_and_then_massive_hedge/?sort=new
I feel sorry for anyone that bit off a chunk at the peak. I'm sure that was quite painful.
IMO, RECON is appropriately priced betwixt $10-12.
Hope for a meteoric rise tomorrow and I am out.
Hey guys,
New to RCON. I bought in when I saw the unexplainable 60% drop in the PPS on Friday. Clearly this was manipulation by some entity(ies).
All indications are that this should pop back up to the 12's pretty quickly- Hopefully we see it pop BIG on Monday!
GLTA
Monday should be very interesting....
$RCON
Monday should be very interesting....
$RCON
We're adding a little jingle to our pockets on the bounce today.....
$RCON who's the lucky $17.50 buyer of the bag?
This was overvalued at $3 such a manipulated joker market..
I don’t think that is true
Cmon baby.....
Trigger my 10 dollar limit sell, TODAY.....
$5.36 next leg up :)
With oil prices rising, I hope we're good here. Bottomed here?
Let's focus on the CEO's words:
"During the six months period ended December 31, 2020, our management focused on fund reserve and cash management to prepare for a rapid development in the coming year. We believe oil companies in China will continue to increase their capital expenditures in 2021. We expect more orders to be released in year 2021 which might be a busy year of the overall oil industry. We expect our business will benefit from this trend and our numbers will be improved from the second half year of calendar 2021."
https://www.nasdaq.com/press-release/recon-technology-ltd-reports-financial-results-for-the-first-six-months-of-fiscal
https://www.nasdaq.com/press-release/recon-technology-announces-corporate-headquarters-relocation-to-accommodate-expansion
Jeez....I sure hope they don't have any more expansion ideas, or need to move their office location.....
What was nearly 10 dollars, has fallen to almost 5 bucks.....
LOL.
$7.35 lovely
I guess both. In fact, I'm wondering why this one is not on our governments' list of crappy Chinese companies.....
(Shhhhh richrich.......Don't jinx the thing.)
LOL
Scary as in can go to the moon or scary as in this is a high risk and you could get dumped on at any moment?
I had a standing limit order to sell at 7.50........
I just went in and modified it to 10 bucks.....
I may go in and "up" it again, if necessary.
This thing is scary......
$6.20 blue skies
$5.35 step by step :)
$ 5.33 much nicer......
Some buying koming in ...
* * $RCON Video Chart 12-09-2020 * *
Link to Video - click here to watch the technical chart video
$RCON 1.66 FROM 2.89
Busy moring trading my friend. 1.31 went has high as 3.25 or so premarket this day.
Bonzaiii
https://www.modernreaders.com/news/2020/12/08/recon-technology-ltd-nasdaqrcon-sees-large-decrease-in-short-interest.html
hope you didnt sell before the stock went BOOM
if so dont feel bad I usually do too...lol
dunno maybe another EVK
these China low floaters https://www.finviz.com/quote.ashx?t=RCON
could easily be manipulated from China hedge and other overseas Funds
Why the pop ?
2.69 !!!! Bonzaiii bUCKEROO
$RCON
1.47 now ! Bonzaiii
Big volume day today looking for a big move up
RCON is another communist china company looking to be delisted.
The lies, fraud, and theft have come to a head.
It took the lies from communist china to kill hundreds of thousands worldwide unfortunately.
The world is dumping communist china companies.
https://www.bloomberg.com/news/articles/2020-05-20/senate-passes-bill-to-delist-chinese-companies-from-exchanges
Filthy rats filled with lies, theft, fraud, and hate.
Don't sleep on this Clay
News out ... micro float
News: $RCON Recon Technology, Ltd. to Present at the LD Micro Main Event (XII) on December 11, 2019
LOS ANGELES, CA / ACCESSWIRE / November 2 6 , 2019 / Recon Technology, Ltd. (NASDAQ:RCON) ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield services and environmental protection, electric power and coal chemical industries, today announced that it...
Got this from RCON - Recon Technology, Ltd. to Present at the LD Micro Main Event (XII) on December 11, 2019
News: $RCON Recon Technology, Ltd. Announces FGS Strategic Cooperation with Ping An Property Insurance on Gas Stations Digital Transformation
NEW YORK , Nov. 8, 2019 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON) ("Recon" or the "Company"), today announced that the Company's subsidiary, Future Gas Station ( Beijing ) Technology, Ltd ("FGS"), has entered into a strategic cooperation agreement (the "Agreement") with Zheji...
Read the whole news RCON - Recon Technology, Ltd. Announces FGS Strategic Cooperation with Ping An Property Insurance on Gas Stations Digital Transformation
News: $RCON Recon Technology Reports Financial Results for Fiscal Year 2019 With Revenue Reaching a New Historical High and Losses Narrowed
BEIJING , Sept. 27, 2019 /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 its financ...
Find out more RCON - Recon Technology Reports Financial Results for Fiscal Year 2019 With Revenue Reaching a New Historical High and Losses Narrowed
Looking prime for a bounce
Looks like bottom is in
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RECON TECHNOLOGY LTD- NASDAQ:RCON
ABOUT RECON:
Recon Technology, Ltd. (Nasdaq: RCON) is a leading developer and marketer of automated oilfield services and products that enhance the extraction of petroleum in China. RCON markets these services and products to leading Chinese oil and gas companies, helping them increase efficiency and profitability in exploring, extracting, producing, processing, refining and transporting petroleum products from the nation's largest producing oil fields.
* Recon's automated systems monitor and collect oil production data remotely and in real-time, a recent industry advance that helps maximize extraction levels, minimize impurities in extracted petroleum, and significantly lowers production costs.
* Recon is an emerging leader in developing and applying the fracturing technology necessary to extract the abundant shale gas reserves in China. Shale, a clean-burning fuel, provides China with a vital and long-sought alternative to the massive toxic pollutants resulting from burning coal for energy production. Working closely with Baker Hughes and other companies, Recon is making rapid progress in liberating these shale gas reserves and facilitating their transport to China's major population centers.
* Recon's primary customers are CNPC (SEHK: 0135) and Sinopec (NYSE: SNP), two of China's three leading state-owned oil and gas companies. Recon has conducted automation projects for 80 percent of these companies' oil and gas fields.
* Recon maintains its leading-technology status via long-established relationships with many of China's foremost R&D institutions, research academies and petroleum industry labs, allowing the company to rapidly develop advanced products and technologies for oil and gas exploration sectors.
* Recon's proprietary technology is based on eight software copyrights, twenty-two product patents and four pending patents, giving the company a powerful intellectual property position. RCON is the first Chinese non-state owned oil and gas service company to be listed on Nasdaq.
INDUSTRY:
China is the world's largest consumer of petroleum products, largest importer of petroleum and fourth-largest producer of petroleum. In the last 20 years, China's demand for oil has more than tripled, while domestic production levels have increased only modestly. China has been a net importer of petroleum since 1983, creating a strong national goal of meeting as much of the country's domestic oil demand as possible.
Most oil fields in China, however, have now entered into the tertiary stage of oil recovery, at which oil extraction becomes increasingly difficult and inefficient. Thus, the demands for new technologies to improve oil extraction efficiency and reduce its cost are at an all-time high. Among these technologies is a new generation of real-time automated systems that dramatically increase the efficiency of extracting and refining petroleum products.
China also continues to face a massive and worsening air pollution issue due to a heavy reliance on coal for energy production. One solution could be the development of domestic Chinese natural gas supplies – which are clean-burning -- with shale gas being the most plentiful. The U.S. Energy Information Administration (EIA) recently determined that China has the world’s largest reserves of recoverable shale gas – approximately 1,115 trillion cubic feet. Unfortunately, extracting this gas and transporting it to needed locales has been an exceedingly slow and technologically daunting process. This problem is borne out by 2012 government data, showing 67 percent of China’s power generation emanating from burning coal and only 3 percent from natural gas.
Chinese government authorities, however, are increasing support and funding for technologies designed to facilitate the extraction of shale gas, with the objective of bringing it up to account for at least 8 percent of the nation’s power generation by 2030.
BEIJING, May 15, 2018 /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 its financial results for the third quarter and first nine months of fiscal year 2018, ended March 31, 2018.
Third Quarter Fiscal Year 2018 Financial Highlights (all comparable to the prior year period):
First Nine Months of Fiscal Year 2018 Financial Highlights (all comparable to the prior year period):
Management Commentary
Mr. Shenping Yin, founder and CEO of Recon stated, "Our market expansion efforts proceeded quite well for the past quarter as we continued to extend our furnaces markets to the chemical industry and industrial automation products requirements to coal chemical industry, bringing us increased revenue. We expect this trend to remain stable and we remain confident of a 30% increase in revenue for the whole fiscal year 2018 as mentioned in our annual letter to shareholders. Furthermore, our construction of waste-water and waste oil sludge treatment facilities has also advanced as scheduled. We believe this will help improve our operations and profit in the coming year."
Recent Developments
On April 09, 2018, the Company announced procurement bidding results from Shenhua Group Corporation Limited ("Shenhua Group") through Shenhua Logistics Group Corporation Limited ("Shenhua Logistics"), during the first 3 months of FY2018, to provide specified equipment and maintenance services for contracts with amount above ¥6.8 million, or approximately $1.1 million. The Company expects bids of ¥20 million to be achieved for the whole year 2018. As of the date of this press release, ¥9.93 million ($1.58 million) has been secured. Shenhua Group is a state-owed enterprise, founded in October 1995 with the approval of the State Council, pursuant to PRC Corporate Laws. Shenhua Group is a diversified energy enterprise concentrating on coal production, sales, electricity and thermal generation, coal liquefaction, coal chemicals, and railway and port transportation.
On January 22, 2018, the Company and certain institutional investors entered into a securities purchase agreement in connection with an offering, pursuant to which the Company agreed to sell an aggregate of 3,592,500 ordinary shares. The purchase price was $1.66 per ordinary share. The aggregate proceeds, after deducting fees to the Placement Agent and other offering expenses of about $0.5 million, were approximately $5.5 million.
On December 15, 2017, the Company signed a subscription agreement with Future Gas Station (Beijing) Technology, Ltd ("FGS"). Pursuant to this agreement, Recon holds 8% equity interest of FGS. As of the date of this press release, Recon has invested ¥4.0 million in FGS.
On November 20, 2017, the Company entered into a securities purchase agreement with Yongquan Bi ("Mr. Bi"), pursuant to which Mr. Bi agreed to purchase an aggregate of 3 million unregistered restricted shares for $4.8 million, a per-share purchase price of $1.60. On January 19, 2018, the Company issued 3 million shares to Xinhaixin International Holdings Limited, Mr. Bi's wholly owned company.
Results of Operations
The following unaudited condensed consolidated results of operations which include the Company's wholly owned subsidiaries, their variable interest entities ("VIEs") and VIEs' subsidiaries. The VIEs are Nanjing Recon Technology Co. Ltd ("Nanjing Recon") and Beijing BHD Petroleum Technology Co, Ltd ("BHD"). BHD owns 100% of the equity interest of Huang Hua BHD Petroleum Equipment Manufacturing Co. LTD ("HH BHD"), 51% of the equity interest of Gansu BHD Environmental Technology Ltd ("Gansu BHD") and 55% of the equity interest of Qing Hai BHD New Energy Technology Co., Ltd. ("Qinghai BHD").
By this current report on Form 6-K, Recon has provided selected results for the third quarter and first nine months of fiscal year 2018, with details on its first nine months financial results in this report.
BEIJING, July 19, 2018 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ:RCON), ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service, electric power and coal chemical industries, today announced the completion of the first stage of its construction of a comprehensive disposal treatment project (the "Project") in Yumen city, Gansu province through its 51% subsidiary, Gansu BHD Environmental Technology Co., Ltd ("Gansu BHD"), which focuses on oilfield sewage treatment and oily sludge disposal projects. As previously disclosed by the Company, Gansu BHD purchased a 50 year land use right for a 26,235 square meter property to build the Project to serve the oilfield sewage treatment needs of Yumen Oilfield Company, China's first petroleum production base and a PetroChina Co., Ltd. ("PetroChina") subsidiary. The Project, which will have an annual processing capacity of 60,000 tons of oily waste, is the only such treatment facility located in Yumen city. As regulations prohibit the removal of such oily sludge from Gansu province, Gansu BHD is optimistic about the business opportunities for the Project, although it lacks a long-term agreement with Yumen Oilfield.
At this first stage of the Project, the construction of the bases and the major body of plants have been completed. The next stage will involve equipment installation and testing. In addition, because of the Company's implementation of improved project design, it estimates the total investment in the Project to decrease from RMB 100 million to RMB 40 million. The Company expects the Project to be operational by the end of the calendar year 2018 and to generate annual revenues for Gansu BHD of more than RMB 50 million, assuming full capacity.
Management Commentary
Mr. Guangqiang Chen, director and CTO of Recon Technology, commented, "We are pleased with our progress on our comprehensive disposal treatment project. Our search for new efficiencies has contributed to a 60% decrease in the expected investment in the project, from RMB 100 million to RMB 40 million. We have completed the construction of the bases and the major body of the plants as we prepare to install our equipment and begin testing. We expect the disposal treatment facilities to be operational by the end of this calendar year."
Mr. Chen continued, "Given the launch of China's new environmental law and increased enforcement of this and other environmental laws, we believe Recon is well positioned to innovate in a changing industry landscape that has given rise to demand for new and more efficient treatment methodologies. The oily waste produced from drilling, transportation and refining in the Yumen oilfield system remains a persistent issue and our project through Gansu BHD is a cutting-edge attempt to resolve this issue."
BEIJING, July 30, 2018 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ:RCON), ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service, electric power and coal chemical industries, today announced that Future Gas Station (Beijing) Technology, Ltd ("FGS"), of which Recon indirectly owns 8%, has officially launched smart vending machines to further expand its retail business.
Management Commentary
Mr. Yin Shenping, CEO of Recon Technology, Ltd commented, "We are very pleased that FGS has launched its smart vending machines as planned to continue expanding its new retail business. With the further liberalization of China's domestic gas market, major oil sales companies are transforming, developing and innovating the country's gas stations. As part of this evolution, the development of the non-oil segment of gas stations has become a strategic issue for major oil companies. We believe that FGS' smart vending machine model can help China National Petroleum Corporation ("CNPC") quickly improve its non-oil-product segment business development and facilitate the integration of new innovations for gas stations."
Mr. Yang Song, the founder of FGS, said, "Smart vending machines are a key component of our development and advancement. Our algorithms and DT fueling app allow users to directly select the products in the cabinet that they choose to purchase. After closing the door, the mobile application automatically completes the sale, either by debiting the user's account or by deducting accumulated rewards points. Currently, there are 4 sets of smart vending machines that can be used normally in the CNPC's location, with users opening the vending machine doors 2,500 times and placing more than 1,500 orders since the roll-out started approximately two weeks ago. In view of this early success, FGS plans to launch smart vending machines at more gas stations and office areas."
Mr. Yang Song continued, "In comparison to other existing unmanned shelf models, our smart vending machine sales can be automatically settled without the customer scanning the product barcode, which greatly enhances the customer's experience, saves the customer time and improves sales efficiency. This model on the requirements of the gas station business model, which prioritizes increasing the revenue of gas station products and shortening the customer's stay time. In order to encourage users to consume, we have also introduced a settlement system for rewards points redemption and cross-product category coupons. CNPC in Zhejiang has a total of 450 gas stations, including city stations, high-speed stations, and village stations. In our early rollout, we expect to cover all the city stations, some rural high-speed stations, a coverage rate reaching 50%, or approximately, 225 gas stations, with roll-out order based on station popularity. In the future, we will further cooperate with third-party companies to improve the efficiency of our reward points system and user activity, and strive to optimize retail consumption for gas station customers."
About Future Gas Station (Beijing) Technology, Ltd
Established in January 2016, FGS is a leading service company focusing on providing new technical application and data operation to gas stations of oil companies such as PetroChina Co., Ltd. With its DT Refuel mobile application, FGS provides solutions to gas stations to improve their operations and their customers' experience. FGS aims to increase the overall income of gas stations through integration of internet technique and new retail E-Commerce platform, and to help transform gas stations into comprehensive service providers.
For more information, please contact:
In China:
Ms. Liu Jia
Chief Financial Officer
Recon Technology, Ltd.
Phone: +86 (10) 8494-5799
Email: info@recon.cn
In the United States:
Ms. Tina Xiao
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com
COMPANY WEBSITE: http://www.recon.cn/
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