RCON

• ARC Resources Analysis: Analysts maintain a Buy rating on ARC Resources with a price target of C$32.00, indicating a strong buy consensus and potential upside from current share prices.

• Recon Technology Rating: Recon Technology receives a Hold rating from analysts, reflecting a cautious outlook with no significant growth expectations.

• Financial Performance Overview: Recon Technology, Ltd reported a revenue decrease to RMB42.1 million ($5.8 million) for the first six months of fiscal 2025, down 7% from the previous year, while gross profit increased to RMB13.4 million ($1.8 million), resulting in an improved gross margin of 31.7%. The net loss decreased to RMB20.7 million ($2.8 million) compared to RMB23.1 million ($3.2 million) in the same period last year.

• Future Outlook and Developments: CEO Shenping Yin highlighted an anticipated rebound in business, particularly in digital solutions and oilfield environmental protection sectors, alongside significant progress in a chemical recycling plant project set to begin construction in April 2025.

• Financial Performance Overview: Recon Technology, Ltd reported a 2.6% increase in total revenue to RMB68.8 million ($9.5 million) for the fiscal year ending June 30, 2024, with gross profit rising to RMB20.9 million ($2.9 million) and a reduced net loss of RMB51.4 million ($7.1 million), down from RMB61.4 million ($8.5 million) in the previous year.

• Future Growth Prospects: The CEO highlighted opportunities for growth in the oil industry as China's investment continues, with plans to expand into broader energy sectors, including carbon-zero initiatives and chemical recycling, while also anticipating increased business volume in oilfield services.

• Recon Technology Compliance Letter: Recon Technology, Ltd. received a Compliance Letter from Nasdaq stating that the bid price deficiency was cured, and the company is in compliance with all listing standards.
• About Recon Technology, Ltd: Recon Technology, Ltd is China's first NASDAQ-listed non-state owned oil and gas field service company, supplying advanced technologies to major oil exploration companies in China.
• Forward-Looking Statements: The press release includes forward-looking statements regarding Recon's future plans, strategies, and beliefs about potential occurrences or results.
• Risk Factors: Recon acknowledges risks and uncertainties that could impact actual results, urging caution when interpreting forward-looking information.
• Update Commitment: Recon commits to updating or revising forward-looking statements as required by law, emphasizing the importance of considering risks and uncertainties.

• Recon Technology's Delisting Notification: Nasdaq notified Recon Technology of the staff's decision to delist its securities due to failing to meet the minimum bid price requirement.
• Appeal and Consolidation: Recon Technology has appealed the delisting determination and expects a consolidation of its Class A ordinary shares to take effect on May 1.
• Stock Performance: Following the news, Recon Technology's stock price dropped by 1% after hours to $0.096.
• Additional Information: More details on Recon Technology can be found regarding a 1-for-18 reverse stock split, Seeking Alpha’s Quant Rating, historical earnings data, and financial information.

• Shareholder Approval of Reverse Stock Split: Recon Technology's shareholders approved a one-for-eighteen reverse stock split of the company's Class A ordinary shares to maintain Nasdaq listing.
• Effective Date and Impact: The reverse stock split will be effective on May 1, reducing outstanding shares from 141.8M to approximately 7.88M.
• Market Trading: Following the split, Recon Technology's ordinary shares will trade on Nasdaq under the symbol "RCON" on a split-adjusted basis.
• Compliance Objective: The primary objective of the reverse stock split is to help the company regain compliance with Nasdaq requirements.
• Additional Information: Seeking Alpha provides historical earnings data and financial information for Recon Technology.

• Reverse Stock Split Announcement:

  • Recon Technology, Ltd. approved a reverse stock split of its Class A ordinary shares at a ratio of one-for-eighteen.
  • The purpose is to comply with NASDAQ rules and maintain the company's listing on Nasdaq.
  • The split will reduce outstanding shares from about 141.8 million to around 7.9 million.
  • Shareholders will automatically receive one new share for every eighteen pre-split shares they hold.
  • No fractional shares will be issued as part of the reverse stock split.

• About Recon Technology, Ltd:

  • Recon Technology, Ltd. is China's first non-state owned oil and gas field service company listed on NASDAQ.
  • The company provides advanced technologies and equipment to major Chinese oil exploration companies.
  • Recon has established long-term relationships with key clients in the industry.
  • For more information, visit http://www.recon.cn/.

• Forward-Looking Statements:

  • Recon includes forward-looking statements in its press release regarding future plans and expectations.
  • These statements are subject to risks and uncertainties that may impact actual results.
  • Investors are advised to consider all risk factors disclosed in Recon's filings with the Securities and Exchange Commission.
  • Recon does not guarantee that anticipated results will materialize as expected.
  • Forward-looking statements are valid only as of their date and may be updated based on circumstances or legal requirements.

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• Recon Technology Compliance Letter:

  • Recon Technology, Ltd. received a Compliance Letter from Nasdaq stating that the bid price deficiency was cured and the company is in compliance with all listing standards.
  • The scheduled hearing was canceled, and Recon's ordinary shares will continue to be listed and traded on The Nasdaq Capital Market.

• About Recon Technology, Ltd.:

  • Recon Technology, Ltd. is China's first NASDAQ-listed non-state owned oil and gas field service company.
  • The company supplies advanced technologies and equipment to major oil exploration companies like Sinopec and CNPC.

• Forward-Looking Statements:

  • Recon includes forward-looking statements in its press release regarding future occurrences or results.
  • These statements are subject to risks and uncertainties that may cause actual results to differ from expectations.

• Risk Factors:

  • Investors should consider the risks, uncertainties, and other factors disclosed in Recon's SEC filings.
  • Forward-looking statements should be evaluated in the context of these factors to understand potential outcomes accurately.

• Recon Technology Delisting: Recon Technology, Ltd. received a delisting notice from Nasdaq due to failure to meet the minimum bid price rule, with trading of its ordinary shares set to be suspended on May 2, 2024.
• Appeal and Consolidation: The company has appealed the delisting determination to a Hearings Panel, and a consolidation of its Class A ordinary shares is expected to take effect on May 1, 2024.
• About Recon Technology: Recon Technology, Ltd. is China's first NASDAQ-listed non-state owned oil and gas field service company, providing advanced technologies to major oil exploration companies in China.
• Forward-Looking Statements: The press release includes forward-looking statements about Recon's strategy, plans, intentions, and beliefs regarding future occurrences or results, subject to risks and uncertainties.
• Cautionary Note: Recon emphasizes that forward-looking statements are based on assumptions and factors that may change, urging readers to consider risks and uncertainties disclosed in SEC filings.

• Financial Highlights: Recon Technology, Ltd reported total revenue of RMB45.3 million for the first six months of fiscal year 2024, with a decrease in gross profit and net loss compared to the same period in 2022.
• Revenue Breakdown: Revenue from automation products and software decreased, while revenue from equipment and accessories increased significantly. However, revenue from oilfield environmental protection and platform outsourcing services decreased.
• Cost Analysis: Cost of revenue slightly increased, with varying trends in different segments like automation products, equipment, and oilfield environmental protection.
• Operating Expenses: Selling expenses increased, general and administrative expenses decreased, and research and development expenses remained stable.
• Net Loss and Cash Position: The company reported a net loss of RMB23.1 million for the period, and as of December 31, 2023, had cash of approximately RMB121.8 million and short-term investments of RMB134.0 million.

• Reverse Stock Split Announcement: Recon Technology, Ltd. approved a reverse stock split of Class A ordinary shares at a ratio of one-for-eighteen to comply with NASDAQ rules.
• Market Effective Date: The reverse stock split will be effective on May 1, 2024, reducing outstanding shares from 141,803,218 to approximately 7,877,956.
• Trading Impact: After the split, Recon's shares will trade on NASDAQ Capital Market under the symbol "RCON" but with a new CUSIP Number.
• Shareholder Action: Each eighteen pre-split shares will convert to one post-split share automatically, with no fractional shares issued.
• About Recon Technology, Ltd.: Recon is China's first non-state owned oil and gas field service company listed on NASDAQ, providing advanced technologies to major oil exploration companies in China.

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愿你的内心充满宁静，思绪如行云流水般自由，心灵如清晨湛蓝的天空般纯净无瑕。

"Where there is love, there is life."

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• The Container Store Group, Inc. (NYSE:TCS) shares fell sharply after reporting weak quarterly results.
• Gainers in the mid-day session include MicroCloud Hologram Inc., SMX (Security Matters) Public Limited Company, and Glatfelter Corporation.
• Losers in the mid-day session include Snap Inc., Sunworks, Inc., and CytoMed Therapeutics Limited.
• Other notable gainers include ThermoGenesis Holdings, Inc., Recon Technology, Ltd., and Sonos, Inc.
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