BEIJING, Jan. 20, 2016 /PRNewswire/ -- Recon Technology,
Ltd. (NASDAQ: RCON) ("Recon" or the "Company"), a leading
independent oilfield services provider operating primarily
in China, announced today that Nanjing Recon Technology Co.,
Ltd. ("Nanjing Recon"), a subsidiary of the Company, has obtained
qualifications to provide services for some state-owned electric
companies and, as a result, has participated in bidding projects,
including projects for China Huadian Corp.
"We are thrilled to have the opportunity to participate in the
bidding process on projects as a qualified contractor/subcontractor
for some of the largest state-owned electric power companies," said
Mr. Shenping Yin, Chairman and CEO
of Recon. "This marks our first attempt at marketing our products
and services outside of the oil and gas industry and potentially
opens the door for us to sell our proprietary DCS, SCADA, automatic
instruments and meters, and related project services. We are
optimistic that our Nanjing Recon team will win some of the
biddings in coming quarters."
About Recon Technology, Ltd.
Recon Technology, Ltd. (NASDAQ: RCON) ("Recon")
is China's first independent oil and gas field service
company to be listed on NASDAQ. Working closely with
leading global partners, Recon has achieved rapid growth
supplying China's largest oil and gas exploration
companies, including Sinopec and China National Petroleum
Corporation, with advanced automated technologies, efficient
gathering and transportation equipment and reservoir stimulation
measures. The solutions Recon provides are aimed at increasing gas
and petroleum extraction levels, reducing impurities, improving
safety and lowering production costs. For additional information,
please visit www.recon.cn.
Cautionary Statements
Statements made in this release with respect to Recon's
current plans, estimates, strategies and beliefs and other
statements that are not historical facts are forward-looking
statements about the future performance of Recon. Forward-looking
statements include, but are not limited to, those statements using
words such as "believe," "expect," "plans," "strategy,"
"prospects," "forecast," "estimate," "project," "anticipate,"
"aim," "intend," "seek," "may," "might," "could" or "should," and
words of similar meaning in connection with a discussion of future
operations, financial performance, events or conditions. From time
to time, oral or written forward-looking statements may also be
included in other materials released to the public. These
statements are based on management's assumptions, judgments and
beliefs in light of the information currently available to it.
Recon cautions investors that a number of important risks and
uncertainties could cause actual results to differ materially from
those discussed in the forward-looking statements, including but
not limited to, product and service demand and acceptance, changes
in technology, economic conditions, the impact of competition and
pricing, government regulation, and other risks contained in
reports filed by the company with the Securities and Exchange
Commission. Therefore investors should not place undue reliance on
such forward-looking statements. Actual results may differ
significantly from those set forth in the forward-looking
statements.
All such forward-looking statements, whether written or oral,
and whether made by or on behalf of the company, are expressly
qualified by the cautionary statements and any other cautionary
statements which may accompany the forward-looking statements. In
addition, the company disclaims any obligation to update any
forward-looking statements to reflect events or circumstances after
the date hereof.
Contact:
Recon Technology, Ltd.
Jia Liu, Chief Financial
Officer
Tel: +86-10-8494-5799
Email: info@recon.cn
Weitian Investor Relations
Tina Xiao
Tel: +1-917-609-0333
Email: tina.xiao@weitian-ir.com
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SOURCE Recon Technology, Ltd.