China's Recon Technology FY revenue jumps on overseas oilfield projects growth
RCON•Recon Technology's fiscal 2026 revenue rose 65.8% year over year to RMB 109.90 million, while gross margin increased to 33.2% from 23.0% and net loss narrowed to RMB 31.60 million.
1. Overseas project growth
Recon said increased overseas oilfield automation projects primarily drove revenue growth and gross margin expansion, CEO Shenping Yin said. Gross profit was RMB 36.50 million.
2. Outlook and challenges
The company plans to bring its waste plastic chemical recycling plant in Weifang, Shandong, to commercial production in fiscal 2027. It aims to expand its overseas and offshore oilfield footprint and rebuild domestic services, while citing oil price volatility and macroeconomic conditions as challenges for the coming year.
