RCONNasdaqOil & Gas Field Services, NECUS GAAP · USD

Recon Technology, Ltd

Recon Technology, Ltd is a U.S.-listed company that operates oil and gas field service businesses in China through its operating platform. It supplies equipment and technologies used in petroleum extraction, gathering and transportation, and reservoir stimulation for major Chinese oil producers.

Kysy yhtiöstä
Liikevaihto110milj. USD
+65,8 %v/v
Liikevoitto (EBIT)−41,2milj. USD
+28,1 %v/v
EBIT-marginaali−37,5%
+49,0 %-yks.v/v
Nettotulos−29,7milj. USD
+30,4 %v/v

Tilikausi 2026 · muutos edellisvuodesta

Kehitys 2021–2026

−100−50050100150milj. USD2021: 48 milj. USD2021: EBIT −62 milj. USD20212022: 84 milj. USD2022: EBIT −82 milj. USD20222023: 67 milj. USD2023: EBIT −69 milj. USD20232024: 69 milj. USD2024: EBIT −72 milj. USD20242025: 66 milj. USD2025: EBIT −57 milj. USD20252026: 110 milj. USD2026: EBIT −41 milj. USD2026110−41
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Recon Technology, Ltd

Liiketoiminta

Osuus liikevaihdosta
Automated oilfield technologies30 %

Control and automation systems used in oilfield operations to improve extraction and field management.

Gathering and transportation equipment25 %

Equipment and systems used to collect, move, and transport crude oil and related fluids.

Reservoir stimulation services25 %

Technologies and services designed to increase petroleum extraction from producing reservoirs.

Oilfield efficiency solutions20 %

Products and services that reduce impurities and lower operating costs for customers.

Tuotteet

Raportoitu · osuus liikevaihdosta
51,5%27,8%15,5%FY2025100 %
  • Automation Product and Software51,5 %
  • Equipment and Accessories27,8 %
  • Oilfield Environmental Protection15,5 %
  • Platform Outsourcing Services5,2 %

Lähde: 20-F FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Recon sells primarily to large state-linked oil exploration and production companies in China. Its customer base is concentrated in major national oil operators that buy equipment and services to improve output, reduce impurities, and lower field operating costs.

National oil companies

Sinopec and CNPC purchase technologies and equipment for large-scale field operations and production optimization.

Large Chinese oil exploration firms

Other major upstream operators buy stimulation and gathering solutions to improve reservoir performance.

Oilfield operating units

Field-level operating teams buy equipment and services for day-to-day production and transport needs.

Strategia

Recon’s strategy is built around specialized oilfield technologies and long-term relationships with large Chinese energy customers. Its position depends on maintaining technical relevance in automation, stimulation, and transport equipment while staying embedded in major upstream projects.

Deepen relationships with major oil customersKeskipitkä aikaväli

Large state-linked buyers create scale and recurring demand for field services.

Expand use of automation and stimulation technologiesKeskipitkä aikaväli

Higher technical content can improve customer retention and solution relevance.

Maintain competitiveness in Chinese oilfield servicesPitkä aikaväli

The business depends on staying relevant in a specialized domestic market.

Maantiede

Recon’s business is centered in China, where it serves major oil and gas customers and operates within the domestic upstream services market. The company is U.S.-listed but its commercial exposure is primarily tied to Chinese oilfield activity and Chinese industrial customers.

Riskit

Recon is exposed to customer concentration, since a limited number of large Chinese oil companies account for much of its business. It also faces industry risks tied to upstream spending, project timing, and technical performance, while its U.S.-listed structure adds market and compliance sensitivity.

Järjestetty vakavuuden mukaan
Customer concentrationKorkea

A small number of large buyers can materially affect revenue if orders slow or contracts change.

Kohdistuu: Sinopec and CNPC

Upstream spending cyclicalityKorkea

Oilfield service demand depends on capital spending and drilling activity by customers.

Kohdistuu: China oil and gas field services

China operating exposureKeskitaso

The business is tied to Chinese industrial customers and domestic energy market conditions.

Kohdistuu: China

Nasdaq listing complianceKeskitaso

Minimum bid and other listing rules can affect market access and investor perception.

Kohdistuu: NASDAQ listing

Kysy Clarifolta: Recon Technology, Ltd

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition timing

Equipment delivery and service completion can shift revenue between periods.

Vaikutus: Project-based contracts and milestone billing

Receivables valuation

Concentrated customer exposure makes collectability judgments important.

Vaikutus: Allowance for credit losses

Asset impairment

Oilfield equipment and related assets may need write-downs if utilization weakens.

Vaikutus: Property, equipment, and inventory

Share capital accounting

Reverse splits and authorized share changes affect equity presentation and per-share data.

Vaikutus: Ordinary shares and EPS

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Päivitetty: 18.7.2026