BEIJING, March 13, 2026 /PRNewswire/ -- Recon Technology, Ltd $(RCON)$ ("Recon" or the "Company"), a China-based independent solutions integrator in the oilfield service and environmental protection, electric power and coal chemical industries, today announced its financial results for the first six months of fiscal year 2026.
First Six Months of Fiscal 2026 Financial Highlights:
-- Total revenue increased to RMB85.0 million ($12.2 million) for the
six months ended December 31, 2025, from RMB42.0 million ($5.8 million)
for the same period in 2024.
-- Gross profit increased to RMB28.5 million ($4.1 million) for the
six months ended December 31, 2025, from RMB13.4 million ($1.9 million)
for the same period in 2024.
-- Gross margin increased to 33.5% for the six months ended December 31,
2025 from 31.7% for the same period in 2024.
-- Net loss was RMB7.2 million ($1.0 million) for the six months ended
December 31, 2025, a decrease of RMB13.5 million ($1.9 million) from net
loss of RMB20.7 million ($3.0 million) for the same period of 2024.
For the Six Months Ended
December 31,
---------------------------------------------------------------------
(in RMB millions,
except earnings
per share;
differences due to
rounding) 2025 2024 Increase /(Decrease) Percentage Change
------------- ----------- ---------------------- -----------------
Revenue RMB 85.0 RMB 42.0 RMB 43.0 102.2 %
Gross profit 28.5 13.4 15.1 113.2 %
Gross margin 33.5 % 31.7 % 1.8 % --
Net loss (7.2) (20.7) (13.5) 65.2 %
Net loss per share --
Basic and diluted (0.61) (2.29) (1.68) 73.3 %
Management Commentary
Mr. Shenping Yin, Founder and CEO of Recon, stated: "We are encouraged by the significant progress the Company has made during the first half of fiscal year 2026. For the six months ended December 31, 2025, Recon's core business remained stable and achieved substantial growth, primarily driven by the successful execution of overseas oilfield projects and the recovery of domestic oilfield production activities. Furthermore, Recon remains committed to diversifying its revenue streams and seizing opportunities in the circular economy. The Company's plastic chemical recycling project, launched in 2023, continues to progress on schedule. The project, which is expected to be fully completed by July 2026, will position Recon to capitalize on the growing demand for sustainable and recycled materials, aligning with global ESG trends and creating long-term value for shareholders. "
Mr. Yin continued, "Amid a dynamic global energy market characterized by supply-demand rebalancing and evolving industry changes, the Company has demonstrated resilience and adaptability, leveraging its core strengths to drive revenue growth while navigating operational challenges. Our focus on high-value-added services, strategic diversification, and operational excellence will continue to guide our decisions as we pursue our long-term growth objectives."
Recon Technology remains committed to delivering innovative, reliable solutions to its customers while upholding the highest standards of corporate governance and social responsibility. The Company will continue to provide timely updates on its business progress and financial performance as it executes its strategic plan.
First Six Months Fiscal 2026 Financial Results:
Revenue
Total revenues for the six months ended December 31, 2025 were approximately RMB85.0 million ($12.2 million), an increase of approximately RMB43.0 million ($6.2 million) or 102.2% from RMB42.0 million ($6.0 million) for the same period in 2024.
-- Revenue from automation product and software increased by RMB41.4 million
($5.9 million) or 197.6%. For the six months ended December 31, 2025, the
increase in revenue from automation products and software was primarily
driven by the Company's RMB44.2 million overseas oilfield projects during
the period. This was a consequence of the second phase of oilfield
capacity construction and the launch of a major automation service and
maintenance project that we secured outside China in 2012. The growth was
partially offset by a decline of RMB2.7 million in the domestic oilfield
business, due to reduced maintenance efforts in the domestic market
during the six months period, as our focus shifted towards overseas
projects. Looking ahead, we will be making a particular shift in our
personnel, moving them from overseeing markets to strengthening our
domestic market maintenance.
-- Revenue from equipment and accessories increased by RMB1.6 million ($0.2
million) or 10.2 %. For the six months ended December 31, 2025, the
increase was primarily driven by a RMB4.1 million growth contributed by
offshore oilfield operations, as well as revenues of about RMB1.2 million
from new onshore oilfield customers. This increase offset some of the
RMB3.7 million revenue decline due to reduced business from some
occasional orders we achieved in the compared period.
-- Revenue from oilfield environmental protection services increased by
RMB2.8 million ($0.4 million), or 101.3%. This growth was primarily
driven by the increase of settlement prices of some wastewater treatment
clients.
-- Revenue from platform outsourcing services decreased by RMB2.7 million
($0.4 million) or 100%. FGS's operations were materially and adversely
affected by strategic shifts in its major clients' business decisions to
terminate online cooperation of third-party companies and unfavorable
changes in domestic industry policies. Consequently, FGS's revenue and
active business activities declined precipitously, resulting in zero
revenue for the six months ended December 31, 2025.
Cost of revenue
Cost of revenues increased from RMB28.7 million ($4.1 million) for the six months ended December 31, 2024 to RMB56.6 million ($8.1 million) for the same period in 2025.
-- For the six months ended December 31, 2024 and 2025, cost of revenue from
automation product and software was approximately RMB12.4 million and
RMB40.7 million ($5.8 million), respectively, representing an increase of
approximately RMB28.3 million ($4.0 million) or 228.6%. The increase in
cost of revenue from automation product and software was primarily
attributable to increased revenue of automation products and software.
-- For the six months ended December 31, 2024 and 2025, cost of revenue from
equipment and accessories was approximately RMB11.2 million and RMB13.2
million ($1.9 million), respectively, representing an increase of
approximately RMB2.0 million ($0.3 million) or 18.0%. The increase in
costs of revenue was primarily driven by expanded business activity,
mirroring the same factor behind the growth in revenue.
-- For the six months ended December 31, 2024 and 2025, cost of revenue
from oilfield environmental protection was approximately RMB4.8 million
and RMB2.7 million ($0.4 million), respectively, representing a decrease
of approximately RMB2.1 million ($0.3 million) or 43.7%. While actively
pursuing new business opportunities in a constrained market, the Company
undertook testing projects. Given their high uncertainty, equipment costs
for these projects were fully costing upon purchase in the prior period,
resulting in lower costs in the current period compared to the prior
period.
-- For the six months ended December 31, 2024 and 2025, the reason for the
decrease is consistent with that of the revenue decline.
Gross profit
Gross profit increased to RMB28.5 million ($4.1 million) for the six months ended December 31,2025 from RMB13.4 million ($1.9 million) for the same period in 2024. Our gross profit as a percentage of revenue increased to 33.5% for the six months ended December 31, 2025 from 31.7% for the same period in 2024.
-- For the six months ended December 31, 2024 and 2025, gross profit from
automation products and software was approximately RMB8.5 million and
RMB21.6 million ($3.1 million), respectively. This represents an increase
of approximately RMB13.1 million ($1.9 million), or 152.8%, primarily
driven by the Company's overseas oilfield projects. However, the overall
gross margin declined during the period due to a higher proportion of
hardware revenue, which carries a lower gross margin.
-- For the six months ended December 31, 2024 and 2025, gross profit from
equipment and accessories was approximately RMB4.5 million and RMB4.1
million ($0.6 million), respectively, representing a decrease of
approximately RMB0.4 million ($0.1 million) or 8.8%. The gross margin for
automation equipment and accessories has remained relatively stable in
this period.
-- For the six months ended December 31, 2024 and 2025, gross profit
from oilfield environmental protection services was approximately
negative RMB2.1 million and RMB2.7 million ($0.4 million), respectively,
representing an increase of RMB4.9 million ($0.7 million), or 229.1%. The
higher costs in the prior period were primarily due to testing projects
conducted in 2024, for which equipment costs were fully expensed upon
purchase.
-- For the six months ended December 31, 2024 and 2025, gross profit from
platform outsourcing services was approximately RMB2.4 million and nil,
respectively, representing a decrease of approximately RMB2.4 million
($0.3 million), or 100%, primarily due to the suspension of operations.
Operating expenses
Selling expenses decreased by 16.2%, or RMB0.9 million ($0.1 million), from RMB5.2 million for the six months ended December 31, 2024 to RMB4.3 million ($0.6 million) in the same period of 2025.
General and administrative expenses increased by 19.3%, or RMB4.6 million ($0.7 million), from RMB24.0 million for the six months ended December 31, 2024 to RMB28.7 million ($4.1 million) in the same period of 2025.
The Company also recorded allowance for credit losses of RMB0.9 million for the six months ended December 31, 2024 as compared to net recovery of credit losses of RMB0.02 million ($0.003 million) for the same period in 2025.
Research and development expenses decreased by 22.1%, or RMB2.2 million ($0.3 million) from RMB10.2 million for the six months ended December 31, 2024 to RMB7.9 million ($1.1 million) for the same period of 2025.
Loss from operations
Loss from operations was RMB12.4 million ($1.8 million) for the six months ended December 31, 2025, compared to a loss of RMB26.9 million for the same period of 2024. This RMB14.5 million ($2.1 million) decrease in operating losses was mainly driven by higher operating gross profit, as previously discussed.
Change in fair value of warrant liability
The Company classified the warrants issued in connection with common share offering as liabilities at their fair value and adjusted the warrant instrument to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in our statement of operations. Change in fair value changes of warrant liability was negative RMB10,327 and RMB584.0 ($84.0) for the six months ended December 31, 2024 and 2025, respectively. The primary reason for the decrease in the fair value loss of the warrant liability was the change in the fair value assessment price.
Interest income
Net interest income was RMB6.4 million ($0.9 million) for the six months ended December 31, 2025, compared to net interest income of RMB6.6 million for the same period of 2024. Interest income remained relatively stable.
Other expenses, net.
Other net expenses amounted to RMB1.2 million ($0.2 million) for the six months ended December 31, 2025, compared to RMB0.4 million for the same period in 2024, representing an increase of RMB0.8 million ($0.1 million). The increase was primarily due to the closure of Qinghai BHD and the disposal of 51% equity interest in MSJ, which together resulted in a total loss on equity shares investments of RMB1.1 million.
Net loss
As a result of the factors described above, net loss was RMB7.2 million ($1.0 million) for the six months ended December 31, 2025, a decrease of RMB13.5 million ($1.9 million) from net loss of RMB20.7 million for the same period of 2024.
Cash and short-term investment
As of December 31, 2025, we had cash in the amount of approximately RMB75.1 million ($10.7 million).As of June 30, 2025, we had cash in the amount of approximately RMB98.9 million ($14.1 million) and short-term investment in bank fixed income product of approximately RMB3.6 million ($0.5 million).
About Recon Technology, Ltd ("RCON")
Recon Technology, Ltd (NASDAQ: RCON) is the People's Republic of China's first NASDAQ-listed non-state owned oil and gas field service company. Recon supplies China's largest oil exploration companies, with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measure for increasing petroleum extraction levels, reducing impurities and lowering production costs. Through the years, RCON has taken leading positions within several segmented markets of the oil and gas filed service industry. RCON also has developed stable long-term cooperation relationship with its major clients. For additional information please visit: http://www.recon.cn/.
Forward-Looking Statements
Recon includes "forward-looking statements" within the meaning of the federal securities laws throughout this press release. A reader can identify forward-looking statements because they are not limited to historical fact or they use words such as "scheduled," "may," "will," "could," "should," "would," "expect," "believe," "anticipate," "project, " "plan," "estimate," "forecast," "goal," "objective," "committed," "intend," "continue," or "will likely result," and similar expressions that concern Recon's strategy, plans, intentions or beliefs about future occurrences or results. Forward-looking statements are subject to risks, uncertainties and other factors that may change at any time and may cause actual results to differ materially from those that Recon expected. Many of these statements are derived from Recon's operating budgets and forecasts, which are based on many detailed assumptions that Recon believes are reasonable, or are based on various assumptions about certain plans, activities or events which we expect will or may occur in the future. However, it is very difficult to predict the effect of known factors, and Recon cannot anticipate all factors that could affect actual results that may be important to an investor. All forward-looking information should be evaluated in the context of these risks, uncertainties and other factors, including those factors disclosed under "Risk Factors" in Recon's most recent Annual Report on Form 20--F and any subsequent half-year financial filings on Form 6--K filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by the cautionary statements that Recon makes from time to time in its SEC filings and public communications. Recon cannot assure the reader that it will realize the results or developments Recon anticipates, or, even if substantially realized, that they will result in the consequences or affect Recon or its operations in the way Recon expects. Forward-looking statements speak only as of the date made. Recon undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances arising after the date on which they were made, except as otherwise required by law. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on any forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, Recon.
For more information, please contact:
The Company
Ms. Liu Jia
Chief Financial Officer
Recon Technology, Ltd
Phone: +86 (10) 8494-5799
Email: info@recon.cn
RECON TECHNOLOGY, LTD
CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS
As of December
As of June 30, As of December 31, 31,
------------------- ------------------ ----------------
2025 2025 2025
------------------- ------------------ ----------------
RMB RMB US Dollars
------------------- ------------------ ----------------
ASSETS (UNAUDITED) (UNAUDITED)
Current assets
Cash Yen 98,874,577 Yen 75,084,982 $ 10,737,010
Restricted cash 8,204 8,204 1,173
Short-term investments 3,599,211 -- --
Notes receivable -- 178,200 25,482
Accounts receivable, net 35,852,484 77,585,955 11,094,644
Inventories, net 1,344,588 654,915 93,652
Other receivables, net 3,760,881 6,252,762 894,133
Other receivables - related
parties 67,976 67,976 9,720
Loans to third parties 141,564,073 145,778,591 20,846,061
Purchase advances, net 14,619,556 13,460,083 1,924,766
Contract costs, net 53,547,408 26,519,752 3,792,274
Prepaid expenses 389,216 36,773 5,258
Deferred offering cost 2,529,724 -- --
---- ------------- --- ------------- ------------
Total current assets 356,157,898 345,628,193 49,424,173
Property and equipment, net 19,986,635 18,511,089 2,647,051
Construction in progress 12,000,900 40,370,158 5,772,856
Investment in unconsolidated
entity, net -- 1,474,974 210,918
Long-term loan to third
parties 118,500,000 119,475,040 17,084,703
Operating lease right-of-use
assets, net (including
RMB696,851 and RMB119,411
($17,075) from related
parties as of June 30,
2025 and December 31, 2025,
respectively) 18,975,692 17,537,008 2,507,759
------------- --- ------------- ------------
Total Assets Yen 525,621,125 Yen 542,996,462 $ 77,647,460
=== ============= === ============= ============
LIABILITIES AND EQUITY
Current liabilities
Short-term bank loans Yen 11,582,336 Yen 15,585,806 $ 2,228,741
Accounts payable 19,398,669 37,422,742 5,351,381
Other payables 6,154,889 5,148,841 736,274
Other payable- related
parties 2,927,377 1,290,556 184,547
Contract liabilities 4,719,255 1,273,179 182,062
Contract liabilities- related
parties -- 400,000 57,199
Accrued payroll and
employees' welfare 3,212,227 5,813,397 831,305
Taxes payable 795,629 2,855,083 408,271
Short-term borrowings -
related parties 10,017,250 10,018,208 1,432,585
Operating lease liabilities -
current (including
RMB355,601 and RMB119,411
($17,075) from related
parties as of June 30,
2025 and December 31, 2025,
respectively) 1,761,231 1,759,435 251,596
Warrant liability - current -- 98 14
------------- --- ------------- ------------
Total Current Liabilities 60,568,863 81,567,345 11,663,975
Operating lease liabilities -
non-current (including nil
and nil from related parties
as of June 30, 2025 and
December 31, 2025,
respectively) 1,081,827 363,277 51,948
Long-term borrowings -
related party 10,000,000 10,000,000 1,429,981
Warrant liability -
non-current 688 -- --
---- ------------- --- ------------- ------------
Total Liabilities Yen 71,651,378 Yen 91,930,622 $ 13,145,904
=== ============= === ============= ============
Commitments and
Contingencies
Shareholders' Equity
Class A Ordinary Shares,
$0.0001 US dollar par value,
500,000,000 shares
authorized; 10,627,426
shares and 10,627,426
shares issued and
outstanding as of June 30,
2025 and December 31, 2025,
respectively 101,548 101,548 14,521
Class B Ordinary Shares,
$0.0001 US dollar par value,
80,000,000 shares
authorized; 20,000,000
shares and 20,000,000
shares issued and
outstanding as of June 30,
2025 and December 31, 2025,
respectively 14,038 14,038 2,007
Additional paid-in capital 692,569,747 698,913,255 99,943,266
Statutory reserve 4,148,929 4,148,929 593,289
Accumulated deficit (262,900,639) (268,723,654) (38,426,971)
Accumulated other
comprehensive income 33,493,895 29,922,499 4,278,860
------------- --- ------------- ------------
Total Recon Technology, Ltd'
equity 467,427,518 464,376,615 66,404,972
Non-controlling interests (13,457,771) (13,310,775) (1,903,416)
------------- --- ------------- ------------
Total shareholders' equity 453,969,747 451,065,840 64,501,556
------------- --- ------------- ------------
Total Liabilities and
Shareholders' Equity Yen 525,621,125 Yen 542,996,462 $ 77,647,460
=== ============= === ============= ============
The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.
RECON TECHNOLOGY, LTD CONDENSED CONSOLIDATED INTERIM STATEMENTS OF
OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED)
For the six months ended
December 31,
---------------------------------------------------
2024 2025 2025
------------------ ----------------- ------------
RMB RMB USD
------------------ ----------------- ------------
Revenue 42,069,270 85,048,921 12,161,834
Cost of revenue 28,714,468 56,571,163 8,089,569
------------ --- ------------ -----------
Gross profit 13,354,802 28,477,758 4,072,265
------------ --- ------------ -----------
Selling and
distribution expenses 5,177,944 4,340,014 620,614
General and
administrative
expenses 24,038,744 28,677,355 4,100,807
Allowance for (Reversal
of) credit losses 870,714 (18,355) (2,625)
Research and
development expenses 10,167,182 7,921,405 1,132,746
------------ --- ------------ -----------
Operating expenses 40,254,584 40,920,419 5,851,542
------------ --- ------------ -----------
Loss from operations (26,899,782) (12,442,661) (1,779,277)
------------ --- ------------ -----------
Other income
(expenses)
Subsidy income 21,045 23,606 3,376
Interest income 7,136,259 6,909,801 988,088
Interest expense (580,977) (527,976) (75,500)
Loss on equity shares
investments -- (1,102,361) (157,636)
Gain (loss) in fair
value changes of
warrants liability (10,327) 584 84
Foreign exchange
transaction loss (313,263) (8,718) (1,247)
Other expenses (80,945) (75,885) (10,851)
------------ --- ------------ -----------
Other income, net 6,171,792 5,219,051 746,314
------------ --- ------------ -----------
Loss before income tax (20,727,990) (7,223,610) (1,032,963)
Income tax expenses
(benefits) 1,609 (1,609) (230)
------------ --- ------------ -----------
Net loss (20,729,599) (7,222,001) (1,032,733)
Less: Net loss
attributable to
non-controlling
interests (141,270) (1,398,986) (200,052)
------------ --- ------------ -----------
Net loss
attributable to
Recon
Technology, Ltd Yen (20,588,329) Yen (5,823,015) $ (832,681)
=== ============ === ============ ===========
Comprehensive
income (loss)
Net loss (20,729,599) (7,222,001) (1,032,733)
Foreign currency
translation
adjustment 1,207,501 (3,571,396) (510,703)
------------ --- ------------ -----------
Comprehensive loss (19,522,098) (10,793,397) (1,543,436)
Less: Comprehensive
loss attributable to
non- controlling
interests (141,270) (1,398,986) (200,052)
------------ --- ------------ -----------
Comprehensive
loss
attributable to
Recon
Technology, Ltd Yen (19,380,828) Yen (9,394,411) $(1,343,384)
=== ============ === ============ ===========
Loss per share -
basic and
diluted Yen (2.29) Yen (0.61) $ (0.09)
=== ============ === ============ ===========
Weighted - average
shares -basic and
diluted 8,978,328 9,475,344 9,475,344
============ === ============ ===========
The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.
RECON TECHNOLOGY, LTD
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
(UNAUDITED)
For the six months ended December 31,
---------------------------------------------------
2024 2025 2025
------------------ ----------------- ------------
RMB RMB US Dollars
------------------ ----------------- ------------
Cash flows from
operating activities:
Net loss Yen (20,729,599) Yen (7,222,001) $(1,032,733)
Adjustments to
reconcile net loss to
net cash used in
operating activities:
Depreciation and amortization 1,724,066 1,438,445 205,695
Loss from disposal of
equipment 9,607 314 45
Gain (loss) in fair value
changes of warrants
liability 10,327 (584) (84)
Allowance (Reversal of) for
credit losses 870,714 (18,355) (2,625)
Allowance (Reversal of) for
slow moving inventories (523,228) 267,498 38,252
Amortization of right-of-use
assets 1,532,232 1,438,684 205,729
Restricted shares issued for
management and employees 5,353,151 6,343,508 907,110
Loss on equity shares
investments -- 1,102,361 157,636
Cash position changes due to
the decrease of ownership
interest -- (32,811) (4,692)
Accrued interest income from
loans to third parties (6,779,697) (6,027,268) (861,888)
Expensing of deferred
financing costs -- 2,529,724 361,746
Changes in operating
assets and
liabilities:
Notes receivable (1,864,913) (178,200) (25,482)
Accounts receivable (3,348,819) (43,275,450) (6,188,307)
Inventories (718,490) 244,960 35,029
Other receivables (358,057) (2,454,191) (350,945)
Other
receivables-related
parties (4,000) -- --
Purchase advances 81,256 784,301 112,154
Contract costs 8,057,774 28,736,194 4,109,221
Prepaid expense (295,291) 352,443 50,399
Operating lease liabilities (1,039,360) (720,346) (103,008)
Accounts payable 3,913,353 4,241,036 606,460
Other payables (1,194,817) (939,715) (134,377)
Other payables-related parties (511,754) (1,636,821) (234,062)
Contract liabilities 2,277,655 (3,446,076) (492,782)
Contract liabilities-related
parties -- 400,000 57,198
Accrued payroll and employees'
welfare 179,209 2,601,170 371,962
Taxes payable 691,901 2,008,157 287,163
------------ --- ------------ -----------
Net cash used in operating
activities (12,666,780) (13,463,023) (1,925,186)
------------ --- ------------ -----------
Cash flows from
investing activities:
Investment in unconsolidated
entity -- (350,000) (50,049)
Purchases of property and
equipment (455,380) (227,699) (32,561)
Proceeds from disposal of
equipment -- 3,580 512
Collection of loans to third
parties 2,904,352 1,681,400 240,437
Payments made for loans to
third parties (36,897,900) (3,200,000) (457,594)
Payments and prepayments for
construction in progress (5,337,873) (14,586,221) (2,085,802)
Redemption of short-term
investments 88,892,092 3,496,550 500,000
------------ --- ------------ -----------
Net cash generated by (used
in) investing activities 49,105,291 (13,182,390) (1,885,057)
------------ --- ------------ -----------
Cash flows from
financing activities:
Proceeds from short-term bank
loans -- 4,000,000 571,992
Repayments of
short-term bank loans (843,487) -- --
Deferred offering costs (810,082) -- --
Capital contribution by
controlling
shareholders 10,000 -- --
---- ------------ --- ------------ -----------
Net cash generated by (used
in) financing activities (1,643,569) 4,000,000 571,992
------------ --- ------------ -----------
Effect of exchange rate
fluctuation on cash and
restricted cash (343,038) (1,144,182) (163,616)
------------ --- ------------ -----------
Net increase (decrease) in
cash and restricted cash 34,451,904 (23,789,595) (3,401,867)
Cash and restricted cash at
beginning of period 110,840,610 98,882,781 14,140,050
------------ --- ------------ -----------
Cash and restricted cash
at end of period Yen 145,292,514 Yen 75,093,186 $ 10,738,183
=== ============ === ============ ===========
Supplemental cash flow
information
Cash paid during the
period for interest Yen 518,086 Yen 518,417 $ 74,133
=== ============ === ============ ===========
Cash paid during the
period for taxes Yen 1,363,403 Yen -- --
==== ============ === ============ ===========
Reconciliation of cash
and restricted cash,
beginning of period
Cash Yen 109,991,674 Yen 98,033,845 $ 14,018,654
Restricted cash 848,936 848,936 121,396
------------ --- ------------ -----------
Cash and restricted
cash, beginning of
period Yen 110,840,610 Yen 98,882,781 $ 14,140,050
=== ============ === ============ ===========
Reconciliation of cash
and restricted cash,
end of period
Cash Yen 145,284,391 Yen 75,084,982 $ 10,737,010
Restricted cash 8,123 8,204 1,173
------------ --- ------------ -----------
Cash and restricted
cash, end of period Yen 145,292,514 Yen 75,093,186 $ 10,738,183
=== ============ === ============ ===========
Non-cash investing and
financing activities
Payable for construction in
progress -- 13,783,037 1,970,948
Investment in unconsolidated
entity resulting from
transfer out of control -- 1,124,974 160,869
The accompanying notes are an integral part of these unaudited condensed consolidated interim financial statements.
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SOURCE Recon Technology, Ltd
(END) Dow Jones Newswires
March 13, 2026 09:10 ET (13:10 GMT)