Recon Technology reports 65.8% revenue growth
- Recon Technology (NASDAQ:RCON) reported fiscal 2026 revenue of RMB109.9 million, up 65.8% year over year.
- Gross profit increased to RMB36.5 million, while net loss narrowed to RMB31.6 million from RMB43.7 million.
- The company plans to begin commercial production at its Weifang waste-plastic recycling plant during fiscal 2027.
Recon Technology (NASDAQ:RCON) reported fiscal 2026 revenue of RMB109.9 million for the year ended June 30, 2026, an increase of 65.8% from the prior fiscal year.
The company’s gross profit increased to RMB36.5 million from RMB15.2 million, while gross margin improved to 33.2% from 23% as automation revenue growth offset declines in some domestic operations.
Recon reported that automation revenue increased 104.5%, driven by overseas oilfield projects, while domestic automation revenue declined and platform outsourcing revenue fell to zero, with net loss narrowing to RMB31.6 million from RMB43.7 million.
The company reported cash of RMB29.7 million compared with RMB98.9 million a year earlier, while short-term investments increased to RMB9.0 million from RMB3.6 million.
Recon held a ceremony marking the start of operations at its Weifang waste-plastic recycling plant on September 28, 2026, and stated that it plans commercial production in fiscal 2027 while expanding overseas and offshore oilfield activities.
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