China's Recon Technology H1 revenue doubles, net loss narrows

Recon Technology

13/03/2026 13:20

Overview

Chinese oilfield services integrator's fiscal H1 revenue rose 102% year-over-year

Gross profit and margin rose, while net loss narrowed from prior-year period

Growth driven by overseas oilfield projects and higher settlement prices in environmental services

Outlook

Company expects plastic chemical recycling project to be completed by July 2026

Company says focus remains on strategic diversification and operational excellence amid dynamic market conditions

Result Drivers

OVERSEAS OILFIELD PROJECTS - Revenue growth was mainly driven by overseas oilfield projects, especially in automation products and software

ENVIRONMENTAL SERVICES PRICING - Higher settlement prices for wastewater treatment clients boosted environmental protection services revenue

PLATFORM OUTSOURCING REVENUE LOSS - Platform outsourcing services revenue fell to zero due to major client business decisions and unfavorable domestic industry policy changes

Company press release: ID:nPn2C7KsSa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
RMB 85 mln
H1 Net Income
-RMB 7.20 mln
H1 Gross Margin
33.5%
H1 Gross Profit
RMB 28.50 mln


Analyst Coverage

The one available analyst rating on the shares is "hold"

The average consensus recommendation for the oil related services and equipment peer group is "buy."

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)