Recon Technology, Ltd. Announces FGS to Cooperate with CNPC

|Mar 4|magazine11 min read

NEW YORK, March 4, 2020 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON) ("Recon" or the "Company") today announces that the Company's subsidiary, Future Gas Station (Beijing) Technology, Ltd ("FGS") is cooperating with the Zhejiang subsidiary of The China National Petroleum Corporation ("CNPC Zhejiang") to provide special discounts to medical staff registered in Zhejiang Province when they refuel at CNPC Zhejiang gas stations through DT Refuel mobile application developed by FGS till the end of 2020. Zhejiang medical staff who go to Hubei province, the epicenter of the epidemic, to provide medical support during the coronavirus disease 2019 ("COVID-19") outbreak can enjoy a 20% discount of gasoline, and other Zhejiang doctors and nurses can enjoy a 5% discount. Zhejiang medical staff can also enjoy some other discounts for selected items available in CNPC Zhejiang's chain stores through DT Refuel.

According to Bureau of Statistics of Zhejiang Province, as of the end of 2018, there were 191,000 licensed physicians and 202,000 registered nurses in Zhejiang. FGS is responsible for verifying the identity and qualification documents submitted by the medical staff through DT Refuel.

"This is our way to show respect to the medical staff and to say thank you for their contributions to fight COVID-19. We help CNPC Zhejiang launch this promotion within a very short time to better serve their customers. As of today, more than 4,000 Zhejiang medical staff and their family member have registered at DT Refuel and benefited from this promotion since last week," said Mr. Yang Song, the founder of FGS. "In addition, during the COVID-19 outbreak, our solution of drive-through provides a safe choice for general public to refuel without leaving their cars to reduce the risk of getting infection. We're glad our technology and platform bring a real convenience to the society."

"We take enterprise social responsibility very seriously. This promotion is a part of our environmental, social and governance (ESG) activities," said Mr. Shenping Yin, co-founder and CEO of Recon. "We will continue to devote and invest in ESG activities."

About Future Gas Station (Beijing) Technology, Ltd.

Established in January 2016, Future Gas Station (Beijing) Technology is a service company focusing on providing new technical Applications and data operations to gas stations. It also provides solutions to gas stations to improve their operations and their customers' experience. FGS aims to increase the overall income of gas stations through the integration of internet technique and New Retail E-Commerce platform and to help transform gas stations into comprehensive service providers.

About Recon Technology, Ltd.

Recon Technology, Ltd. (RCON) is China's first non-state-owned oil and gas field service company listed on NASDAQ. Recon supplies China's largest oil exploration companies with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measures for increasing petroleum extraction levels, reducing impurities and lowering production costs. Since 2017, the Company has expanded its business operations into other segments of the broader energy industry including electric power, coal chemicals, renewable energy and environmental protection in the energy and chemical industries. Through the years, Recon has taken leading positions on several market segments of the oil and gas field service industry. Recon also has developed stable long-term cooperation relationships with its major clients, and its products and service are well accepted by clients. For additional information please visit: www.recon.cn

Safe Harbor Statement

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, the effect of novel coronavirus and other health matters on target markets, and other risks contained in reports filed by the company with the Securities and Exchange Commission. 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.

IR contact:

In China:
Ms. Jia Liu
Recon Technology, Ltd.
Phone: +86 (10) 8494-5799
Email: [email protected]

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SOURCE Recon Technology, Ltd.