Recon Technology, Ltd

Listed Company

RCONCIK 0001442620NasdaqNon-AcceleratedOil & Gas Field Services, NecE9KYFY ends Jun 30

Period

FY 2025

Revenue

$9.25M

Net Income

$-5.95M

Total Assets

$73.37M

Equity

$65.25M

Shares Out

10.63M

Op. Cash Flow

$-4.71M

Business

Recon Technology, Ltd provides oilfield specialized equipment, automation systems, tools, chemicals and field services to petroleum companies primarily in the PRC, and is expanding into chemical recycling of waste plastics. It offers products and services including high‑efficiency heating furnaces, burners, pumping unit controllers, RTUs, wireless sensors, flow computers, Recon SCADA and related EPC and digital oilfield solutions, oilfield wastewater and oily sludge treatment, residual oil recovery and gas station platform services. Key business segments are automation product and software, equipment and accessories, and oilfield environmental protection. The company sells mainly to Chinese petroleum companies, regional gas stations and local service contractors across China through direct contracts and EPC engagements.

Summary from filing dated 2025-10-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2016 2016-06-30	FY 2015 2015-06-30	FY 2014 2014-06-30	FY 2013 2013-06-30	FY 2012 2012-06-30
Total revenues	43	52	93	77	76
Total cost of revenues	5	41	61	52	51
Gross profit	1	10	32	25	24
Selling and distribution expenses	847,447	11	5	6	5
General and administrative expenses	20	27	16	11	16
Provision for doubtful accounts	2	3	—	—	—
Research and development expenses	7	4	8	9	6
Operating expenses	7	46	30	26	28
Loss from operations	−6	−36	3	−564,747	−4
Subsidy income	43,509	781,457	1	2	554,856
Interest income	27,626	293,499	384,182	570,442	335,517
Interest expense	−135,961	−1	−952,574	−2	−962,824
Change in fair value of warrants liability	0	4	60,647	0	—
Income (loss) from foreign currency exchange	7,570	−19,190	−188,495	233,478	−46,303
Loss from warrants redemption	0	−2	0	—	—
Other income (expense)	−368	24,558	−6,706	1	—
Other income (expense)	−64,055	2	939,699	−32,901	−78,097
Loss before income tax	−6	−34	3	906,412	−4
Provision (benefit) for income tax	545,845	−3	961,136	286,871	−220,050
Net loss	−41	−5	807,188	39,698	−4
Foreign currency translation adjustment	98,511	−38,276	17,783	−3,004	−1,599
Comprehensive loss	−6	−31	2	616,537	−4
Less: Comprehensive loss attributable to non-controlling interest	0	−1,982	1	579,543	305,830
Comprehensive loss attributable to Recon Technology, Ltd	−6	−31	823,193	36,994	−4
Loss per common share - basic (in dollar per share)	−1.09	−6.45	0.19	0.01	−0.97
Loss per common share - diluted (in dollar per share)	−1.09	−6.45	0.18	0.01	−0.97
Weighted - average shares -basic (in shares)	6	5	4	4	4
Weighted - average shares -diluted (in shares)	6	5	4	4	4

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2016 2016-06-30	FY 2015 2015-06-30	FY 2014 2014-06-30	FY 2013 2013-06-30	FY 2012 2012-06-30
Cash	2	2	18	12	4
Notes receivable	701,377	4	0	3	0
Trade accounts receivable, net	6	52	44	—	—
Trade accounts receivable- related parties, net	0	5	7	—	—
Inventories, net	950,144	11	14	13	24
Deferred tax assets	0	2	1	1	1
Total current assets	74	125	133	129	140
Property and equipment, net	3	3	1	2	2
Long-term trade accounts receivable, net	2	4	—	—	—
Long-term other receivable	0	3	5	4	10
Total Assets	12	134	155	135	152
Short-term bank loans	0	7	10	10	23
Trade accounts payable	1	14	11	—	—
Trade accounts payable- related parties	0	4	0	—	—
Deferred revenue	406,681	2	4	3	3
Advances from customers	200,600	529,700	801,385	470,700	936,124
Accrued payroll and employees' welfare	381,109	246,789	417,624	2	949,579
Accrued expenses	39,334	199,166	203,051	488,730	476,416
Taxes payable	755,880	1	8	7	10
Short-term borrowings	79,767	0	—	—	—
Deferred tax liability	27,119	180,186	180,186	180,186	—
Total current liabilities	4	52	50	47	66
Common stock, ($ 0.0185 U.S. dollar par value, 100,000,000 shares authorized; 5,427,946 and 5,804,005 shares issued and outstanding as of June 30, 2015 and 2016, respectively)	741,467	697,217	616,865	529,979	529,979
Additional paid-in capital	15	93	83	70	68
Statutory reserve	624,432	4	—	—	—
Accumulated deficits	−10	−23	—	—	—
Accumulated other comprehensive loss	−32,966	−317,551	−279,275	−293,201	−290,496
Total shareholders equity	41	74	96	82	80
Non-controlling interest	8	8	8	7	1
Total equity	7	82	16	15	14
Total Liabilities and Equity	79	134	155	135	152

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2016 2016-06-30	FY 2015 2015-06-30	FY 2014 2014-06-30	FY 2013 2013-06-30	FY 2012 2012-06-30
Depreciation	143,744	526,046	595,647	618,552	361,790
Gain from disposal of equipment	−6,124	−193,657	128,902	38,006	—
Provision for slow moving inventories	365,468	8	—	—	—
Share based compensation	6	3	2	2	1
Deferred tax (benefit) provision	2	−532,136	−23,054	100,080	−648,668
Restricted shares issued for services	2	2	407,593	0	—
Notes receivable	−454,647	−4	3	−3	1
Trade accounts receivable	15	−3	−5	—	—
Inventories	1	−4	−1	11	−2
Purchase advance, net	5	3	−7	—	—
Deferred revenue	−2	−2	1	90,309	870,576
Advances from customers	−329,100	−271,685	330,685	−465,424	153,179
Accrued payroll and employees' welfare	20,216	−170,835	−2	1	791,755
Accrued expenses	25,960	5,291	−285,679	12,314	131,401
Taxes payable	790,199	−1	835,418	−3	—
Net cash used in operating activities	−42,994	−15	−8	25	—
Purchase of property and equipment	−27,253	−2	−477,957	−753,583	−1
Proceeds from disposal of equipment	9,030	400,400	141,716	162,000	—
Net cash used in investing activities	−121,075	−2	−336,241	−2	—
Proceeds from short-term bank loans	75,252	7	24	10	—
Repayments of short-term bank loans	−1	−10	−24	−23	—
Proceeds from short-term borrowings	79,767	0	—	2	23
Proceeds from sale of common stock, net of issuance costs	171,919	2	12	0	—
Net cash provided by (used in) financing activities	−10	11	14	−14	—
Effect of exchange rate fluctuation on cash and cash equivalents	9,466	−61,543	68,614	−3,006	24,543
Net decrease in cash	−2	−6	6	9	47,339
Cash paid during the period for interest	903,368	1	939,416	1	442,719
Cash paid during the period for taxes	142,477	881,794	704,982	832,028	494,087
AR and short-term borrowings-related parties offset	30,101	0	—	—	—
Inventories used for fixed assets	154,329	0	—	—	—

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