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?$RCON News Out Recon Holds Seminar to Promote its Biological Activator Invention
http://on.mktw.net/2hpnMFc?
Let’s see 2$
RCON-type businesses should have strong government support.
http://english.sina.com/china/p/2017-10-25/detail-ifynffnz2192412.shtml
* * $RCON Video Chart 10-24-17 * *
Link to Video - click here to watch the technical chart video
This one has been behaving badly on the last couple big PR's when it should have ran.
gap&trap so far today
you would think the $2m news today would keep it over $2
but something feels strange with this one
maybe its the Inst Ownership?
Insider Own 53.60%
http://www.recon.cn/en/
Will bounce tomorrow back to $2
RCON Shares Outstanding 9.9 M
Institutional Ownership 0.09%
Number of Floating Shares 3.5 M
RCON could have easily broker $3.00 a couple days ago had another stock not taken massive volume. It was in another index the AMEX not the Nasdaq. Once RCON get's more news $3.00 should be behind us. When buying pressure hit's the ask we run on air. Tiny float here.
I like the volume and total $ amount the last couple of days. People in the know?
Actually they have had nothing but good news and their last earnings report showed massive gains in revenues from the prior earnings report. Go through all of their news from at least 1 month back and you will see why RCON should be over $3.00 to $5.00 very soon. Lot's of news in the pipeline now.
Picked up more on the pullback. Lousy financials but they are in the right space.
GL RCON can run on air as you saw this AM. I would suggest going back through a month of news we have had. Big PR's are due and I would not be on the sidelines the next time we run 150% plus fast. BTW the tiny float is gone. If it were not for stop losses RCON would be solid green.
Looking for $1.70s to hopefully give some support. It's more because it is 10-15% down from $2.00 than seeing support via chart.
If not $1.40-1.50s is support based on charts.
It looks like most are holding or loading for more RCON news in the days ahead. IMO we see $3.000 to $5.00 very soon on the charts. I am holding here. Tiny float that churned above where we are now here so IMO it is a no brainer HOLD here. RCON ran over .60 cents to #2.48 from lows to highs this AM with ease. We can run fast and furious with this SS.
That short interest was from at least 1 month ago. Yesterday there were no more short shares available thus the short interest is well over 30% now!
Short interest was less than 2% as per your post when it was lower.
New shorts above $2.00 aren't underwater.
Support at at $2.00 has been broken. Next level is in the $1.40s
Freefallling.
RCON Shares Outstanding 9.9 M
Institutional Ownership 0.09%
Number of Floating Shares 3.5 M
Short Interest as % of Float 1.88%
That is because this is RCON news and we have had a lot of good news recently. Look at the tiny SS. Patience. Any dips can be followed by huge rips going forward! No one here is going to direct the PPS on a tiny float like RCON has with all of the huge news we have had in the past couple weeks. You should read through it. RCON should be over $5.00 ahead soon for those who are patient. Lot's more good news on the way. Stop loss trading never bothers me especially when it is manipulated on tiny volume pre market. That is why I make the bigger $$$.
Beijing OriginWater Technology Co. Ltd. did not move on the announcement.
This headed for a slow bleed back to $1.40s?
RCON solid over $3.00 tomorrow AM should be easy. Look at the tiny float! Only 3.5 million shares.
$3.15 is target for AM
$3.15 is target for AM
I checked out BOW Beijing OriginWater Technology Co. Ltd. (Shenzhen Stock Exchange and it has been trading above $18.00 on the Asian market exchange. Betting RCON runs hard tomorrow over $3.00.
* * $RCON Video Chart 10-16-17 * *
Link to Video - click here to watch the technical chart video
Recon and BOW Signed Sewage Treatment Strategic Cooperation Agreement
BEIJING, Oct. 16, 2017 /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 it has signed a three-year strategic cooperation agreement ("Agreement") with Beijing OriginWater Purification Engineering Technology Co., Ltd ("BOW Engineering"), a subsidiary of Beijing OriginWater Technology Co. Ltd. (Shenzhen Stock Exchange: 300070) ("BOW"). Pursuant to the Agreement, Recon Technology and BOW Engineering will cooperate to promote advanced sewage treatment technology in Chinese oilfield markets and to provide integrative solutions and services of superior quality and effectiveness to tackle industrial water pollution.
Recon Technology united with BOW Engineering to render effective waste water treatment solution for a PetroChina petroleum refinery earlier this year(The full text of the press release can be read here: recon.mediaroom.com/2017-05-30-Recon-Completes-an-Agreement-to-Provide-Wastewater-Treatment-Equipment-and-Solution-for-a-PetroChina-Petroleum-Refinery?pagetemplate=widgetpopup, and achieved superb results. Based on this prior success, both parties decided that a more comprehensive strategic relationship would be beneficial to their business development in this area.
Management Commentary
"We are excited about BOW Engineering's unique membrane technologies and rich experiences in sewage treatment industry," said Mr. Shenping Yin, CEO of Recon Technology. "Chinese government as well as large oil companies are dedicated to protecting the environmental during oil production and seeking more efficient techniques and equipment to realize cost-saving and meet increasingly stringent environmental protection requirement. Recon Technology has provided reliable and efficient technologies to China's major oilfield companies, such as CNPC and Sinopec, for years. Recon Technology has made some strides in oily sewage treatment for last two years. With its abundant market experience, deep insights and visions in oilfield markets, and support of BOW's team of specialists, we believe Recon will maintain research and technological advantages and deliver better performance."
About Beijing OriginWater Technology Co., Ltd. (Shenzhen Stock Exchange: 300070) and Beijing OriginWater Purification Engineering Technology Co., Ltd
Founded in 2001 and listed in Shenzhen market in 2010, Beijing OriginWater Technology Co. Ltd. is a one stop solution provider that has dedicated itself to resolving China's three main water issues: water pollution, water shortage and drinking water insecurity. BOW is one of the world biggest membrane tech R&D, manufacturing and application enterprises and is also the alpha dog of environmental protection enterprises on Growth Enterprises Exchange Market.
Beijing OriginWater Purification Engineering Technology Co., Ltd is an affiliation of Beijing OriginWater Technology Co. Ltd and focusing on render of complete resolutions of drinking water treatment to areas with fresh water supply threaten.
About Recon Technology, Ltd. (NASDAQ: RCON)
Recon Technology, Ltd. is China's first listed non-state owned oil and gas field service company on NASDAQ. Recon supplies China's largest oil exploration companies, Sinopec (NYSE: SNP) and 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 on several segmented markets of the oil and gas filed service industry. RCON also has developed stable long-term cooperation relationship with its major clients, and its products and service are also well accepted by clients. For additional information please visit: www.recon.cn .
Company Contact
Liu Jia, CFO
Recon Technology, Ltd.
+86 (10) 8494-5799
info@recon.cn
View original content:http://www.prnewswire.com/news-releases/recon-and-bow-signed-sewage-treatment-strategic-cooperation-agreement-300536997.html
SOURCE Recon Technology, Ltd.
Copyright 2017 PR Newswire
Also did anyone think about the fact that we could wake up with a massive gap up tomorrow if the Chinese traders load RCON on the news when their markets trade soon and into tomorrow morning our hours. I would love to see a gap over $3.00 on the open! This is very big news for RCON.
Here are the numbers E Trade shows. Extremely low.
RCON Shares Outstanding 9.9 M
Institutional Ownership 0.09%
Number of Floating Shares 3.5 M
Short Interest as % of Float 1.88%
GL today was perfect trading except for the last hour when many who bought earlier in the day that only day trade sold and took their losses and stop losses hit. This SS is a dream. I am holding now 50K shares and will be looking for a much easier green running day ahead tomorrow. Thus is what real traders who check into RCON will be looking at tonight. RCON float 500K OS 7 million. This one can run up dollars a day ahead and easily see the $3.00 to $5.00 range at least.
https://finviz.com/quote.ashx?t=RCON
JMO
Waiting to see is this dips to $1.80s
As a trader, I can wait for my entry.
If not, will wait and see what happens tomorrow.
That is what happens when people use stop losses, you get insane MM fast moves down then back up, but the EOD BUYS should run RCON to a new HOD with ease on steady buying pressure above.
RCON should easily break the HOD soon then watch for a massive EOD chase above to over $3.00 IMO. RCON is the highest gaining Nasdaq play today and none of the recent runners even the one that went from a couple dollars to almost $39.00, none of them and most ran over $5.00 and $6.00 had a tiny SS like RCON. Selling way down here is insane IMO. Never use stop losses on a low float hot play. JMO.
Out 1/3 At 2.30
Stop loss on remaining raised to 2.15
Always great to play these types of patterns.
RCON new HOD on the way soon IMO then we should head over $3.00 by the close in a big way with this tiny float and OS. RCON float 500K OS 7 million.
https://finviz.com/quote.ashx?t=RCON
RCON has a tiny OS but the float is the smallest I have ever seen on any big board stock. 500K shares. This one should be at new 52 week highs here after lunch again then over $3.00 this afternoon. A few stop losses can not stop a tiny float tock on news like RCON. That as a low volume walk down on stop losses during lunch.
Nice bounce off of $2.00
But that's some ugly chart.
Basically if $2.00 doesn't hold the next support is in the $1.40s?
RCON great buy here IMO. 500 K float. That is the lowest float I have ever seen on a Nasdaq runner. https://finviz.com/quote.ashx?t=RCON
RCON should run great the rest of the day IMO. The float is long gone up here near the daily highs. I will hold my last 30K shares I picked up on the shakeout for the next leg up ahead. Once these stop losses are done she should run to more new daily highs. This is also a low volume drop here.
Thx u2 i Got my stop in
Sold another 10K shares at just over $2.55. GL. I will check back a bit later.
The RCON float is gone now in the upper channel here now. Looks like if the right money comes in she see's more new 52 week highs just ahead.
I will make some good Bank on my 12k at 1,42 i guess ;)
I had time for 1 more flip trade from $2.30 to $2.40 another 10K shares. That last one was only 1K gains but we are up here now so it will be harder to find scalp trades the rest of the day after this AM's great run.
Out of RCON at $2.42 to $2.55. Congrats everyone. If it pulls back again during lunch I may consider another trade but this AM was fun and I made huge bank on my 20K shares.
My 1,42 Looking Sweet
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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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