BEIJING, April 8, 2021 /PRNewswire/ -- Recon Technology,
Ltd (NASDAQ: RCON), ("Recon" or the "Company"), today announced the
Company's 51%-owned subsidiary, Future Gas Station (Beijing) Technology, Ltd. ("FGS"), has entered
into a cooperation agreement (the "Agreement") with Henan sales branch of PetroChina Co. Ltd.
("Henan CNPC") and Alipay (Hangzhou) Information Technology Co., Ltd
("Alipay") to develop a mini program named "Hao Ke Le Jia" on Alipay's mobile application and to
provide operation and maintenance services for the related joint
membership program. This is the second time that FGS and Alipay
cooperate since they began to provide similar service to
Zhejiang sales branch of
PetroChina Co. Ltd. ("Zhejiang CNPC") in October 2020.
According to the Agreement, Henan CNPC and Alipay will use their
own resources and brands to jointly create a car owner membership
program in Henan province which
will be promoted through "Hao Ke Le Jia" mini program. FGS is obligated to provide
related services including developing, operating and maintaining
the mini program. The car owners who purchase or receive the
membership through the mini grogram will be able to enjoy monthly
refuel discounts, coupons for non-oil products sold at gas
stations, and various membership benefits provided by Alipay, as
well as convenient fueling service provided by Henan CNPC.
As of December 31, 2019, the
number of gas stations owned by Henan CNPC has exceeded 800, the
number of motor vehicles registered in Henan province has exceeded 23 million and the
number of drivers registered in Henan province has exceeded 20 million.
Management Commentary
Mr. Yang Song, founder and CEO of
FGS, said, "We are pleased to continue to work together with Alipay
by providing membership operation services to Henan CNPC. We have
already started similar cooperation with Alipay and Zhejiang CNPC
and achieved positive operational results."
"The joint membership program provided by Alipay and PetroChina
will enable car owners to enjoy continuous and stable discounted
refuel service and comprehensive benefits package. In return, we
expect this program will help CNPC maintain customers and increase
the customers' transaction frequency."
Mr. Song continued, "FGS has been committed to providing digital
operation solutions to China's gas
station operators, improve the throughput rate during peak periods,
enhance marketing efficiency and reduce marketing costs. Its
solutions also provide an affordable and convenient refueling
experience for vehicle owners. We are glad to extend our services
to Henan province in partnership
with Alipay. We plan to promote this model in other provinces in
China."
Mr. Shenping Yin, founder and CEO
of Recon, said, "We have witnessed many milestones achieved by FGS
and the effective solutions provided by FGS' team. Since December 2017 when we started to
invest in FGS, it has served more than 5.35 million car owners,
with a cumulative refueling value of more than RMB4.63 billion in Zhejiang province. With the market expansion,
we believe FGS will bring to the Company more benefits and
potentials."
About Future Gas Station (Beijing) Technology, Ltd. ("FGS")
Established in January 2016, FGS
is a service company focusing on providing new technical
applications and data operations to gas stations of oil companies
such as PetroChina Co., Ltd. With its DT Refuel mobile application
and related mini programs embedded into WeChat and Alipay, two
mobile applications widely used in China, FGS provides solutions to gas stations
to improve their operations and their customers' experience. FGS
aims to facilitate the digital transformation of gas stations
through integration of internet technique and algorithms, and to
help transform gas stations into comprehensive service
providers.
About Recon Technology, Ltd
Recon Technology, Ltd (NASDAQ: RCON) is 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 on several segmented markets of the oil and gas
filed service industry. RCON also has developed stable long-term
cooperation relationship with its major clients, and its products
and service are also well accepted by clients. For additional
information please visit: http://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.
For more information, please contact:
Ms. Liu Jia
Chief Financial Officer
Recon Technology, Ltd
Phone: +86 (10) 8494-5188
Email: info@recon.cn
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SOURCE Recon Technology, Ltd.