BEIJING, March 24,
2023 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ:
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 2023.
First Six Months of Fiscal 2023 Financial Metrics:
- Total revenue decreased by approximately RMB8.8 million ($1.3
million) or 16.3% to RMB45.6
million ($6.6 million) for the
six months ended December 31, 2022
from RMB54.4 million for the same
period in 2021.
- Gross profit decreased by approximately RMB1.4 million ($0.20
million) or 9.5% to RMB13.1
million ($1.9 million) for the
six months ended December 31, 2022,
from RMB14.5 million for the same
period in 2021.
- Gross margin increased to 28.8% for the six months ended
December 31, 2022 from 26.7% for the
same period in 2021.
- Research and development expenses decreased from
RMB5.5 million ($0.9 million) for the six months ended
December 31, 2021 to RMB5.1 million ($0.7
million) for the same period in 2022.
- Net income decreased by RMB141.3
million ($20.5 million) to net
loss of RMB29.9 million ($4.3 million) for the six months ended
December 31, 2022 from net income of
RMB111.4 million ($17.5 million) for the same period in 2021.
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For the Six Months Ended
|
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|
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December 31,
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|
|
|
2022
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|
2021
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Increase /(Decrease)
|
|
Percentage
Change
|
|
(in RMB millions,
except
earnings per share;
differences
due to
rounding)
|
|
|
|
|
|
|
|
|
|
Revenue
|
|
RMB
|
45.6
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|
RMB
|
54.4
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|
RMB
|
(8.8)
|
|
(16.3)
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%
|
Gross profit
|
|
|
13.1
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14.5
|
|
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(1.4)
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|
(9.5)
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%
|
Gross margin
|
|
|
28.8
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%
|
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26.7
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%
|
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2.1 %
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/
|
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Net income
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(29.9)
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111.4
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(141.3)
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(126.8)
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%
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Net earnings per
share-
diluted
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(0.88)
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3.87
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(4.75)
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(122.7)
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%
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Management Commentary
Mr. Shenping Yin, Founder and CEO
of Recon said: "Due to the COVID-19 pandemic restrictions in
China in the second half of 2022,
both our business activities and those of our customers were
restricted by varying degrees. As a result, our revenue for the
first six months ended December 31,
2022 decreased by 16.3% compared to the same period of year
2021. Although we maintained a stable gross profit margin, we
experienced operating losses and net losses. As China achieved major and decisive strides in
the COVID 19 prevention and control efforts in early 2023, we
believe our business is back to a favorable direction as we
actively pursue business opportunities."
"Currently, as more markets in China's energy industry are opening up to
non-state-owned companies, we are exploring opportunities in such
other markets. We believe that our experience and deep
understanding of the energy industry, especially in the fields of
oil and gas, will always be the foundation for the company's
long-term growth. In addition, to diversify our sources of revenue
and reduce concentration risk, we will continue to leverage recent
technological advancements, our knowledge of intelligent equipment
and the "Internet of Things" (IoT), and opportunities arising from
rising oil prices and climate deterioration caused in part by
plastic pollution, to fully utilize our industry and technological
knowledge and advantages and seek new opportunities in other
industries. We expect to expand on more profitable business
lines."
First Six Months Fiscal 2023 Financial Results:
Revenue
Total revenues for the six months ended December 31, 2022 were approximately RMB45.6 million ($6.6
million), a decrease of approximately RMB8.8 million ($1.3
million) or 16.3% from RMB54.4
million for the same period in 2021. The overall decrease in
revenue was mainly due to decrease revenue from automation product
and software, oilfield environmental protection and platform
outsourcing services segments, which was partially offset by the
increased revenue from equipment and accessories segment during the
six months ended December 31,
2022.
- Revenue from automation product and software decreased by
RMB4.8 million ($0.7 million) or 20.1%. The decrease was mainly
caused by decreased orders from Ji
Dong oilfield as this client reduced their investment budget
and oil and gas extraction activities.
- Revenue from equipment and accessories increased by
RMB3.5 million ($0.5 million) or 57.3% due to increased demand
for equipment from Qing Hai oilfield companies as oil price
increased and their production activities increased.
- Revenue from oilfield environmental protection decreased by
RMB6.9 million ($1.0 million) or 35.2%. This was mainly caused by
less raw materials we could collect. As a result, our revenue
decreased due to lower processing volume compared to the same
period last year.
- Revenue from platform outsourcing services decreased by
RMB0.6 million ($0.1 million) or 13.9%. The decrease was mainly
due to less overall economic activities and lower refueling volumes
at gas stations.
Cost of revenue
Total cost of revenues decreased from RMB39.9 million for the six months ended
December 31, 2021 to RMB32.4 million ($4.7
million) for the same period in 2022. This decrease was
mainly caused by the decreased cost of revenue from automation
product and software, oilfield environmental protection and
platform outsourcing services segments, which was partially offset
by the decreased cost of revenue from equipment and accessories
segment during the six months ended December
31. 2022.
Gross profit
Total gross profit decreased to RMB13.1
million ($1.9 million) for the
year ended December 31, 2022 from
RMB14.5 million for the same period
in 2021. Gross profit margin increased slightly to 28.8% for the
six months ended December 31, 2022
from 26.7% for the same period in 2021.
- For the six months ended December 31,
2021 and 2022, gross profit from automation product and
software was approximately RMB3.3
million and RMB4.1 million
($0.6 million), respectively,
representing an increase in gross profit of approximately
RMB0.8 million ($0.1 million) or 25.0%. In year 2021, we mainly
carried out contracts that were signed during the Covid-19 and low
oil price period, during which we used a low-margin strategy to
maintain our cooperation business with clients. As oil price
increase in 2022, customers recovered and contract terms were
improved and margin increased and the margin percentage will also
be higher.
- For the six months ended December 31,
2021 and 2022, gross profit from equipment and accessories
was approximately RMB3.3 million and
RMB3.5 million ($0.5 million), respectively, representing an
increase of approximately RMB0.2
million ($30,017 ) or 6.3%.
This was mainly driven by high oil price and more demands for
heating furnaces with higher margin rather than accessories with
lower margin.
- For the six months ended December 31,
2021 and 2022, gross profit from oilfield environmental
protection was approximately RMB5.6
million and RMB2.8 million
($0.4 million), respectively,
representing a decrease of approximately RMB2.8 million ($0.4
million) or 50.3%. The decrease in gross profit from
oilfield environmental protection was primarily attributable to the
decreased production of oily sludge.
- For the six months ended December 31,
2021 and 2022, gross profit from platform outsourcing
services was approximately RMB2.3
million and RMB2.7 million
($0.4 million), respectively,
representing an increase of approximately RMB0.4 million ($0.1
million) or 18.4 %, this was mainly because personnel
expenses, which constitutes major part of our costs, reduced during
the six months ended December 31,
2022.
Operating expenses
Selling and distribution expenses decreased by 14.9% or
RMB0.7 million ($0.1 million), from RMB4.7
million in the six months ended December 31, 2021 to RMB4.0 million ($0.6
million) in the same period of 2022.
General and administrative expenses decreased by 44.6% or
RMB21.1 million ($3.1 million), from RMB47.3 million in the six months ended
December 31, 2021 to RMB26.2 million ($3.8
million) in the same period of 2022.
The Company also recorded an allowance for credit losses of
RMB5.7 million for the six months
ended December 31, 2021 as compared
to a net recovery of credit losses of RMB7.1
million ($1.0 million) for the
same period in 2022.
Research and development expenses remained relatively stable
with a slight decrease from RMB5.5
million for the six months ended December 31, 2021 to RMB5.1 million ($0.7
million) for the same period of 2022.
Loss from operations
Loss from operations was RMB15.1
million ($2.2 million) for the
six months ended December 31, 2022,
compared to a loss of RMB37.3 million
for the same period of 2021. This RMB22.2
million ($3.2 million)
decrease in loss from operations was primarily due to the decrease
in operating expense as discussed above.
Change in fair value of warrant liability
Gain in fair value of warrants issued on June 14, 2021 through six months ended
December 31, 2021 was RMB147.2 million, and the loss in fair value of
warrants was RMB20.1 million
($2.9 million) for the six months
ended December 31, 2022.
Interest income
Interest income was RMB5.0 million
($0.7 million) for the six months
ended December 31, 2022, compared to
interest income of RMB1.8 million for
the same period of 2021.
Net income (loss)
As a result of the factors described above, net loss was
RMB29.9 million ($4.3 million) for the six months ended
December 31, 2022, a decrease of
RMB141.3 million ($20.5 million) from net income of RMB111.4 million for the same period of 2021.
Cash
As of December 31, 2022, we had
cash in the amount of approximately RMB269.1
million ($39.0 million). As of
June 30, 2022, we had cash in the
amount of approximately RMB317.0
million ($47.3 million).
Recent Development
On March 17, 2023, the Company
announced that it closed its previously announced registered direct
offering with certain accredited investors to purchase
approximately $8 million worth of its
Class A ordinary shares, and Class A ordinary shares warrants in a
concurrent private placement, for proceeds of approximately
$8 million. In addition, ordinary
share purchase warrants to purchase an aggregate of 7,950,769
ordinary shares previously issued by the Company to certain
institutional investors on June 16,
2021 had the exercise price reduce to $0.80 in connection with this offering. Company
management and its board of directors believe that the capital
raise was in company's best interests to obtain additional funding
for its new business segment in the plastics recycling business
while confronting near-term market volatility and the recently
announced tighter rules and regulations in terms of follow-on
offerings from oversea-listed Chinese companies promulgated from
the China Securities Regulatory Commission. The Company intends to
use the net proceeds for its midterm and long-term operations,
including for the Company's research and development needs for
current and future products, expansion of its marketing efforts,
and possible acquisition of complementary assets or businesses.
On March 2, 2023, the Company
announced that it has formulated preliminary plans to expand into
the plastics chemical recycling business. Recon also attended the
27th China Plastics Recycling Conference and
Exhibition held on February 28 at Dongguan City
of Guangdong Province to explore cutting-edge technologies
that work to achieve circular economy goals in eliminating waste
and pollution, keeping products and materials in continuous use,
and regenerating natural systems..
On February 27, 2023, the
Company announced that the mainland China variable
interest entity's subsidiary, Nanjing Recon Technology Co.,
had achieved preliminary progress on the research and development
of a new energy-efficient electric pump that is being conducted at
some oilfield sites in China.
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, Sinopec (NYSE: SNP) and The China National
Petroleum Corporation ("CNPC"), 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:
Company
Ms. Liu Jia
Chief Financial Officer
Recon Technology, Ltd
Phone: +86 (10) 8494-5799
Email: info@recon.cn
Investor Relations
Janice
Wang
Managing Partner
Phone: +86 13811768559 (China)
+1 628 283 9214
Email: services@wealthfsllc.com
RECON TECHNOLOGY,
LTD
CONDENSED
CONSOLIDATED INTERIM BALANCE SHEETS
(UNAUDITED)
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30
|
|
As of December
31
|
|
As of December 31
|
|
|
2022
|
|
2022
|
|
2022
|
ASSETS
|
|
RMB
|
|
RMB
|
|
U.S. Dollars
|
Current
assets
|
|
|
|
|
|
|
|
|
|
Cash
|
|
¥
|
316,974,857
|
|
¥
|
269,111,420
|
|
$
|
39,011,267
|
Restricted
cash
|
|
|
723,560
|
|
|
730,060
|
|
|
105,832
|
Notes
receivable
|
|
|
10,828,308
|
|
|
8,471,941
|
|
|
1,228,120
|
Trade
accounts
receivable, net
|
|
|
22,577,980
|
|
|
38,972,445
|
|
|
5,649,572
|
Inventories,
net
|
|
|
3,894,369
|
|
|
4,941,662
|
|
|
716,359
|
Other receivables,
net
|
|
|
5,501,833
|
|
|
2,767,204
|
|
|
401,143
|
Loans to third
parties
|
|
|
50,383,822
|
|
|
95,089,205
|
|
|
13,784,440
|
Purchase advances,
net
|
|
|
178,208
|
|
|
554,700
|
|
|
80,411
|
Contract costs,
net
|
|
|
33,858,820
|
|
|
27,747,782
|
|
|
4,022,409
|
Prepaid
expenses
|
|
|
420,284
|
|
|
409,939
|
|
|
59,426
|
Prepaid expenses
-
related
parties
|
|
|
275,000
|
|
|
—
|
|
|
—
|
Total current
assets
|
|
|
445,617,041
|
|
|
448,796,358
|
|
|
65,058,979
|
|
|
|
|
|
|
|
|
|
|
Property and
equipment,
net
|
|
|
25,474,162
|
|
|
26,104,639
|
|
|
3,784,213
|
Construction
in
progress
|
|
|
239,739
|
|
|
267,571
|
|
|
38,788
|
Intangible assets,
net
|
|
|
5,950,000
|
|
|
5,600,000
|
|
|
811,794
|
Long-term
other
receivables, net
|
|
|
1,564,381
|
|
|
620,000
|
|
|
89,877
|
Long-term loan to
a
third
party
|
|
|
—
|
|
|
3,067,000
|
|
|
444,602
|
Goodwill
|
|
|
4,730,002
|
|
|
4,730,002
|
|
|
685,676
|
Operating lease
right-
of-use
assets
(including
¥765,241
and
¥553,226
($80,197)
from a
related
party as of
June 30,
2022 and
December
31, 2022,
respectively)
|
|
|
6,666,759
|
|
|
5,038,871
|
|
|
730,451
|
Total
Assets
|
|
¥
|
490,242,084
|
|
¥
|
494,224,441
|
|
$
|
71,644,380
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
AND
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
|
|
|
Short-term bank
loans
|
|
¥
|
10,000,000
|
|
¥
|
10,000,000
|
|
$
|
1,449,633
|
Trade accounts
payable
|
|
|
16,739,989
|
|
|
16,987,376
|
|
|
2,462,542
|
Other
payables
|
|
|
3,533,918
|
|
|
2,125,082
|
|
|
308,059
|
Other payable-
related
parties
|
|
|
2,240,135
|
|
|
2,471,268
|
|
|
358,243
|
Contract
liabilities
|
|
|
2,001,277
|
|
|
55,400
|
|
|
8,031
|
Accrued payroll
and
employees'
welfare
|
|
|
2,250,547
|
|
|
2,278,254
|
|
|
330,263
|
Taxes
payable
|
|
|
2,210,958
|
|
|
2,884,924
|
|
|
418,208
|
Short-term
borrowings
-
related parties
|
|
|
9,009,156
|
|
|
10,005,069
|
|
|
1,450,367
|
Long-term
borrowings
- related
party -
current
portion
|
|
|
999,530
|
|
|
1,041,981
|
|
|
151,049
|
Operating
lease
liabilities - current
(including
¥429,265
and
¥439,865
($63,764)
from a
related
party as of
June 30,
2022 and
December
31, 2022,
respectively)
|
|
|
3,892,774
|
|
|
3,705,420
|
|
|
537,150
|
Total
Current
Liabilities
|
|
|
52,878,284
|
|
|
51,554,774
|
|
|
7,473,545
|
|
|
|
|
|
|
|
|
|
|
Operating
lease
liabilities - non-
current
(including
¥335,976
and
¥113,361
($16,433)
from a
related party as
of June
30, 2022 and
December
31, 2022,
respectively)
|
|
|
2,184,635
|
|
|
752,821
|
|
|
109,131
|
Long-term bank
loan
|
|
|
—
|
|
|
1,000,000
|
|
|
144,963
|
Long-term
borrowings
- related
party
|
|
|
5,511,076
|
|
|
4,989,930
|
|
|
723,356
|
Contract liabilities
-
non-current
|
|
|
106,000
|
|
|
106,000
|
|
|
15,366
|
Warrant
liability
|
|
|
16,677,328
|
|
|
37,043,871
|
|
|
5,370,000
|
Total
Liabilities
|
|
|
77,357,323
|
|
|
95,447,396
|
|
|
13,836,361
|
|
|
|
|
|
|
|
|
|
|
Commitments
and
Contingencies
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
|
|
|
|
Class A ordinary
shares,
$0.0925
U.S. dollar
par
value,
150,000,000 shares
authorized;
29,700,718
shares and
29,700,718
shares
issued
and
outstanding as of June
30, 2022
and
December
31, 2022,
respectively
|
|
|
18,001,670
|
|
|
18,001,670
|
|
|
2,609,581
|
Class B
ordinary
shares,
$0.0925 U.S.
dollar par
value,
20,000,000
shares
authorized; 4,100,000
shares and
4,100,000
shares
issued and
outstanding as of June
30, 2022
and
December
31, 2022,
respectively
|
|
|
2,408,498
|
|
|
2,408,498
|
|
|
349,144
|
Additional
paid-in
capital
|
|
|
496,038,696
|
|
|
502,139,970
|
|
|
72,791,843
|
Statutory
reserve
|
|
|
4,148,929
|
|
|
4,148,929
|
|
|
601,442
|
Accumulated
deficit
|
|
|
(111,273,525)
|
|
|
(141,149,943)
|
|
|
(20,461,555)
|
Accumulated
other
comprehensive
income
|
|
|
11,307,461
|
|
|
20,971,162
|
|
|
3,040,048
|
Total
shareholders'
equity
|
|
|
420,631,729
|
|
|
406,520,286
|
|
|
58,930,503
|
Non-controlling
interests
|
|
|
(7,746,968)
|
|
|
(7,743,241)
|
|
|
(1,122,484)
|
Total
equity
|
|
|
412,884,761
|
|
|
398,777,045
|
|
|
57,808,019
|
Total Liabilities
and
Equity
|
|
¥
|
490,242,084
|
|
¥
|
494,224,441
|
|
$
|
71,644,380
|
RECON TECHNOLOGY,
LTD
CONDENSED
CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS AND
COMPREHENSIVE INCOME
(LOSS)
(UNAUDITED)
|
|
|
For the six months
ended
|
|
|
December
31,
|
|
|
2021
|
|
2022
|
|
2022
|
|
|
RMB
|
|
RMB
|
|
USD
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
|
|
|
|
|
|
|
|
|
Revenues - third
parties
|
|
¥
|
54,411,724
|
|
¥
|
45,559,591
|
|
$
|
6,604,466
|
Revenues
|
|
|
54,411,724
|
|
|
45,559,591
|
|
|
6,604,466
|
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
|
|
|
|
|
|
|
|
|
Cost of revenues -
third parties
|
|
|
39,904,645
|
|
|
32,427,772
|
|
|
4,700,835
|
Cost of
revenues
|
|
|
39,904,645
|
|
|
32,427,772
|
|
|
4,700,835
|
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
|
14,507,079
|
|
|
13,131,819
|
|
|
1,903,631
|
|
|
|
|
|
|
|
|
|
|
Selling and
distribution expenses
|
|
|
4,727,496
|
|
|
4,021,899
|
|
|
583,028
|
General and
administrative expenses
|
|
|
47,314,621
|
|
|
26,212,540
|
|
|
3,799,855
|
Net recovery of credit
losses
|
|
|
(5,671,285)
|
|
|
(7,141,708)
|
|
|
(1,035,285)
|
Research and
development expenses
|
|
|
5,477,213
|
|
|
5,109,302
|
|
|
740,661
|
Operating
expenses
|
|
|
51,848,045
|
|
|
28,202,033
|
|
|
4,088,259
|
|
|
|
|
|
|
|
|
|
|
Loss from
operations
|
|
|
(37,340,966)
|
|
|
(15,070,214)
|
|
|
(2,184,628)
|
|
|
|
|
|
|
|
|
|
|
Other income
(expenses)
|
|
|
|
|
|
|
|
|
|
Subsidy
income
|
|
|
2,278
|
|
|
85,602
|
|
|
12,409
|
Interest
income
|
|
|
2,590,649
|
|
|
5,187,649
|
|
|
752,018
|
Interest
expense
|
|
|
(784,077)
|
|
|
(169,091)
|
|
|
(24,512)
|
Income from investment
in unconsolidated
entity
|
|
|
15,411
|
|
|
—
|
|
|
—
|
Gain (loss) in fair
value changes of warrants
liability
|
|
|
147,168,952
|
|
|
(20,097,665)
|
|
|
(2,913,423)
|
Foreign exchange
transaction gain (loss)
|
|
|
(151,986)
|
|
|
42,455
|
|
|
6,154
|
Other income
(expenses)
|
|
|
(13,630)
|
|
|
157,753
|
|
|
22,868
|
Other income
(expenses), net
|
|
|
148,827,597
|
|
|
(14,793,297)
|
|
|
(2,144,486)
|
Income (loss) before
income tax
|
|
|
111,486,631
|
|
|
(29,863,511)
|
|
|
(4,329,114)
|
Income tax
expenses
|
|
|
107,204
|
|
|
9,180
|
|
|
1,331
|
Net income
(loss)
|
|
|
111,379,427
|
|
|
(29,872,691)
|
|
|
(4,330,445)
|
|
|
|
|
|
|
|
|
|
|
Less: Net income
attributable to non-
controlling
interests
|
|
|
21,917
|
|
|
3,727
|
|
|
540
|
Net income (loss)
attributable to Recon
Technology,
Ltd
|
|
¥
|
111,357,510
|
|
¥
|
(29,876,418)
|
|
$
|
(4,330,985)
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income
(loss)
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
|
111,379,427
|
|
|
(29,872,691)
|
|
|
(4,330,445)
|
Foreign currency
translation adjustment
|
|
|
(4,636,991)
|
|
|
9,663,701
|
|
|
1,400,882
|
Comprehensive income
(loss)
|
|
|
106,742,436
|
|
|
(20,208,990)
|
|
|
(2,929,563)
|
Less: Comprehensive
income attributable to
non-controlling
interests
|
|
|
21,917
|
|
|
3,727
|
|
|
540
|
Comprehensive income
(loss) attributable to
Recon Technology,
Ltd
|
|
¥
|
106,720,519
|
|
¥
|
(20,212,717)
|
|
$
|
(2,930,103)
|
|
|
|
|
|
|
|
|
|
|
Earning (loss) per
ordinary share
|
|
|
|
|
|
|
|
|
|
-Basic
|
|
¥
|
4.08
|
|
¥
|
(0.88)
|
|
$
|
(0.13)
|
-Diluted
|
|
¥
|
3.87
|
|
¥
|
(0.88)
|
|
$
|
(0.13)
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares
|
|
|
|
|
|
|
|
|
|
-Basic
|
|
|
27,312,581
|
|
|
33,800,718
|
|
|
33,800,718
|
-Diluted
|
|
|
28,776,992
|
|
|
33,800,718
|
|
|
33,800,718
|
View original
content:https://www.prnewswire.com/news-releases/recon-technology-ltd-reports-financial-results-for-the-first-six-months-of-fiscal-year-2023-301780815.html
SOURCE Recon Technology, Ltd