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Crazy.. Often gaps up after momentum halts
2,50 coming lol
Recon Technology Reports Financial Results for Fiscal Year 2017 Highlighted by 40% Revenue Increase Driven by Traditional and Oilfield Waste Water Treatment Business Growth
http://www.marketwatch.com/story/recon-technology-reports-financial-results-for-fiscal-year-2017-highlighted-by-40-revenue-increase-driven-by-traditional-and-oilfield-waste-water-treatment-business-growth-2017-09-28
Run back to $1.80 again?
Recon Announces New Contracts for Oil and Gas Internet of Things Production Projects for PetroChina Changqing Oilfield Company
http://www.marketwatch.com/story/recon-announces-new-contracts-for-oil-and-gas-internet-of-things-production-projects-for-petrochina-changqing-oilfield-company-2017-09-25
Can anyone give me info on future of company
RCON firing up..potential double in the weeks ahead.
Yep blowout e/r coming the second week of February imo even better than the last one. RCON the sleeping giant $3+ soon.
http://www.reuters.com/article/us-china-oil-spending-idUSKBN15A11M
Jumped in 1.30 this one will have it day soon.
Added the pre-news lull.
$3+ very soon.
Textbook accumulation and few are watching lol.
$3+ stock very soon.
RCON on watch ~ http://stockcharts.com/h-sc/ui?s=rcon
Pretty much a no brainer down here with no one watching.
When small cap CEO's/CFO's/Insiders whos personal interests are already aligned with shareholders go out of their way to book an investor relations firm something big is coming. No one knows more about their own company than insiders.
IMO $3+ will come sooner than we realize.
Yeah, it looks ready to start bouncing.
It does seem some financing and subsequent promo may be around the corner given what the company states.
For now, holding a core position and trading some.
Get ready for a major spike within the next two weeks IMHO my new years prediction based on a number of things going on with the company and insider transactions.
Oil now at 18 month highs around $55 after they had 172% profit growth and 117% rev growth back when oil was $45. Q2 E/R is in a little over a month which should be even more spectacular than the last one.
What a great chart setup.
What a strange trading day.
Good opportunity to buy flippers.
If news with contracts come, $3 should be easy to get.
The day to day manipulation is brutal but I can easily see this trading $3+ in not too much time.
After hours spread has tightened.
Oil looks to be strengthening.
And it's December!
All of these make RCON look like a good one to trade.
Big volume yesterday. We shall see if it leads to something good.
KABOOOOOOOOOOOOOOM $2 coming
RCON oh my +41% on heavy volume $$$
Last year they had 4 pr's in Dec-Jan so get ready.
The lower they manipulate RCON pps the more I add. Take a look at oil today..skyrocketing on OPEC cuts.
The spread after hours is ridiculous and demonstrates how they want to trick sellers to give in.
As always, never put all your money into one trade as you never know what will happen.
I am just saying that there is quite a bit of proof that their is a short on the stock.
News that brings in buyers will force the short seller to cover.
Or as I mentioned in SINO, they will try and bring it down via false articles that come out right at a spike.
Low volume stocks are easy to manipulate into a box.
We shall see if the company gives people a reason to buy.
If you take a look at the chart, it looks purposely bad.
As if someone wants us to sell.
So, news will bring buyers and confidence to overcome the shorting algorithm.
With Thanksgiving over, let's see if the company has anything to tell us.
It really seems like someone stopped the run to build up a position.
Maybe after thanksgiving they will give the goods and with their fill, we rise.
News yes although I've already found a bunch of goodies stashed away in the 10-Q:
"The Company has also developed new clients in China’s top producing Changqing Oilfield, which is located in China’s Xi’an Province." "The Company has signed sales contracts for furnaces as of the report day."
https://www.sec.gov/Archives/edgar/data/1442620/000114420416134196/v452229_10q.htm
Seems like someone is buying up shares hoping to get their fill quietly.
Look at what happened last late November - early December.
If news comes, we should run pretty good as someone has been buying.
RCON is headed over $3 the best gainers are often the ones where it SEEMS no one is watching. Look at the move on CHNR from the $1's very similar setup here.
+172% Gross Profit
+117% Revenue
Strong Guidance
Shorts reeling in agony as they couldn't get longs to sell.
Too bad it seems that no one is watching.
We could have baked them. Still can.
Good Monday Morning RCON board.
Float should still be tight.
Let's see if the Market Maker is happy with what they got.
Decent 70k+ volume day here.
Not 100% convinced this was just a sympathy play.
Let's see what next week brings.
Pre-market kissed for 200 shares just like yesterday's after-hours was kissed for 200 shares.
Strange.
RCON will rise over $3 after that blowout e/r, accumulate low.
Total revenues for Q1 FY2017 were RMB7.8 million ($1.2 million),* an increase of RMB4.2 million or 117.1% from RMB3.6 million for the same period last fiscal year;
.
Gross profit increased 171.9% to RMB1.1 million ($0.2 million) for the three months ended September 30, 2016 from RMB0.4 million for the same period in 2015;
.
Gross margin improved more than 280 basis points to 14.0% in Q1 FY2017, compared to 11.2% for the same period last fiscal year
So, did this get squashed because of low floats getting hammered?
Could be dilution, but why let it run yesterday?
Cutting by 25% scares off most people who would buy in.
It just seems that shorts pounded this because they know there is potential sellers.
Rather large volume, so we shall see what happens over the next week or so.
Interesting action today.
Watching to see how it unfolds.
Yesterday's spike close likely hurt today's movement.
Actually, this is what someone who got caught shorting yesterday would want.
Last few minutes here, the price went ballistic.
The rest of the day, this was definitely getting bought up.
Tight float and trades next to nothing most days.
Might be Thursdays runner.
Kind of wish this closed $1.50-1.60
But you can't have it all.
Volume and green!
$RCON recent news/filings
bullish 1.92
## source: finance.yahoo.com
Mon, 14 Dec 2015 11:31:00 GMT ~ 6:31 am Recon Technology wins a major bidding contract with PetroChina Co, to participate in PetroChina's furnace procurement program
read full: http://finance.yahoo.com/news/inplay-briefing-com-055139997.html#rcon
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Mon, 14 Dec 2015 11:30:00 GMT ~ Recon Technology, Ltd. Subsidiary Qualifies as Class A Furnace Supplier for PetroChina and Inks RMB 3.22 Million (US$0.5 million) Contract
[PR Newswire] - BEIJING, Dec. 14, 2015 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON) ("Recon" or the "Company"), a leading independent oilfield services provider operating primarily in China, announced today that Beijing BHD Petroleum Technology Co., Ltd. ("BHD"), a wholly-owned subsidiary of the Company, won a major bidding contract with PetroChina Co., Ltd. ("PetroChina") and has been deemed a Class A Furnace Supplier to all PetroChina's oilfield companies. With this bidding and qualification, BHD will participate in PetroChina's furnace procurement program, which was worth over RMB 2.9 billion (approximately $457 million) during the period Oct. 2015 to Sep. 2017. The Company also announced today that BHD has secured a RMB 3.22 million (~$0.5 million) contract to supply five furnaces to PetroChina's Huabei Oilfield under this Bidding process.
read full: http://finance.yahoo.com/news/recon-technology-ltd-subsidiary-qualifies-113000732.html
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Tue, 08 Dec 2015 18:18:19 GMT ~ RECON TECHNOLOGY, LTD Financials
read full: http://finance.yahoo.com/q/is?s=rcon
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Mon, 07 Dec 2015 22:28:30 GMT ~ RECON TECHNOLOGY, LTD Files SEC form 8-K, Entry into a Material Definitive Agreement, Other Events, Financial Stateme
read full: http://biz.yahoo.com/e/151207/rcon8-k.html
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Mon, 07 Dec 2015 11:30:00 GMT ~ Recon Technology, Ltd. Announces Acquisition of New Business to Expand Service Chain and Strengthen its Operation in West China
[PR Newswire] - BEIJING, Dec. 7, 2015 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON), ("Recon" or the "Company"), a leading independent oilfield services provider operating primarily in China, ...
read full: http://finance.yahoo.com/news/recon-technology-ltd-announces-acquisition-113000963.html
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$RCON charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$RCON company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/RCON/company-info
Ticker: $RCON
OTC Market Place: Not Available
CIK code: not found
Company name: Recon Technology, Ltd.
Incorporated In:
Business Description:
$RCON share structure
## source: otcmarkets.com
Market Value: Not Available
Shares Outstanding: Not Available
Float: Not Available
Authorized Shares: Not Available
Par Value: No Par Value
$RCON extra dd links
Company name: Recon Technology, Ltd.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/RCON/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/RCON/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=RCON+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=RCON+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=RCON+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/RCON/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/RCON/news - http://finance.yahoo.com/q/h?s=RCON+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/RCON/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/RCON/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/RCON/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/RCON/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/RCON/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/RCON/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/RCON/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/RCON/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=RCON+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/RCON
DTCC (dtcc.com): http://search2.dtcc.com/?q=Recon+Technology%2C+Ltd.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Recon+Technology%2C+Ltd.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Recon+Technology%2C+Ltd.&x=0&y=0
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/RCON/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/RCON
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/RCON/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/RCON/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/RCON/sec-filings
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/RCON/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/RCON/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/RCON/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/RCON/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=RCON&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=RCON
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/RCON/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=RCON+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=RCON+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=RCON
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=RCON
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=RCON+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/RCON/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=RCON+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/RCON.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=RCON
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/RCON/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/RCON/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/RCON/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/RCON/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/RCON
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/RCON
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/RCON:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=RCON
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=RCON
$RCON DD Notes ~ http://www.ddnotesmaker.com/RCON
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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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