STOCK TITAN

SNP - SNP STOCK NEWS

Welcome to our dedicated page for SNP news (Ticker: SNP), a resource for investors and traders seeking the latest updates and insights on SNP stock.

Sinopec (SNP) is a global leader in integrated energy and chemical operations, driving innovations across oil refining, petrochemical production, and renewable energy initiatives. This news hub provides stakeholders with essential updates on strategic developments, operational milestones, and market positioning within the evolving energy landscape.

Access authoritative coverage of Sinopec's latest press releases, including refinery expansions, sustainability commitments, and international partnerships. Track updates across core business segments: upstream exploration achievements, downstream retail network growth, and advancements in low-carbon technologies.

Discover curated news on earnings announcements, joint ventures with global energy players, and regulatory compliance updates. Our repository ensures investors and industry professionals stay informed about Sinopec's responses to market trends and energy transition challenges.

Bookmark this page for continuous access to verified updates about one of Asia's largest energy enterprises. Regularly refreshed content supports informed decision-making for those monitoring China's energy sector evolution and global oil market dynamics.

Rhea-AI Summary

Recon Technology (NASDAQ: RCON) reported financial results for H1 FY2025, showing mixed performance. Total revenue decreased 7.0% to RMB42.1 million ($5.8 million), while gross profit increased to RMB13.4 million ($1.8 million). The company's gross margin improved to 31.7% from 26.7% year-over-year.

Notable segment performance included:

  • Automation product revenue increased 19.2%
  • Equipment and accessories revenue declined 12.2%
  • Oilfield environmental protection revenue decreased 66.2%
  • Platform outsourcing services revenue grew 53.7%

The company reported a net loss of RMB20.7 million ($2.8 million), an improvement from the previous year's loss of RMB23.1 million. As of December 31, 2024, RCON maintained a strong cash position of RMB145.3 million ($19.9 million).

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
-
Rhea-AI Summary

Recon Technology (NASDAQ: RCON) reported its fiscal year 2024 financial results, showing a modest revenue increase of 2.6% to RMB68.8 million ($9.5 million) compared to FY2023. The company's gross profit improved to RMB20.9 million ($2.9 million), with gross margin increasing to 30.3%. Despite these improvements, RCON recorded a net loss of RMB51.4 million ($7.1 million), though this represents a decreased loss compared to the previous year's RMB61.4 million. The company maintains a strong cash position of RMB110.0 million ($15.1 million) and short-term investments of RMB88.1 million ($12.1 million) as of June 30, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
-
Rhea-AI Summary

Recon Technology, (NASDAQ: RCON) announced its financial results for the first six months of fiscal year 2024.

Total revenue was RMB45.3 million ($6.4 million), consistent with the same period in 2022. Gross profit decreased to RMB12.1 million ($1.7 million), and gross margin dropped to 26.7% from 28.8% in 2022.

The company reported a net loss of RMB23.1 million ($3.3 million), down from RMB29.9 million ($4.2 million) in the same period last year. Management highlighted recovery in the oilfield services business, development of new offshore customers, and ongoing construction of a chemical recycling plant, expected to generate substantial future returns.

Revenue from equipment and accessories rose by 83.6% to RMB8.1 million ($1.1 million), while revenue from oilfield environmental protection and platform outsourcing services saw declines of 37.0% and 55.3%, respectively.

Cost of revenues increased slightly to RMB33.2 million ($4.7 million). Gross profit from automation products and software decreased by 14.3%, while cost for equipment and accessories rose by 106.1%.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
Rhea-AI Summary

Recon Technology announced on May 23, 2024, that it has regained compliance with Nasdaq's listing standards. The company received a letter from Nasdaq's Listing Qualifications Hearings Department on May 22, 2024, confirming that the bid price deficiency had been resolved. As a result, the scheduled hearing was canceled, and Recon's ordinary shares will continue to be listed and traded on the Nasdaq Capital Market.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary

Recon Technology, (NASDAQ: RCON) has received a delisting determination from Nasdaq due to not meeting the Minimum Bid Price Rule. The company has appealed the decision, but if no appeal is made, trading will be suspended on May 2, 2024. The recent approval of the consolidation of its Class A ordinary shares is expected to take effect on May 1, 2024.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary
Recon Technology, (NASDAQ: RCON) announced a 1-for-18 reverse stock split approved by shareholders on March 29, 2024, to regain compliance with NASDAQ rules. The split will reduce outstanding shares from 141,803,218 to approximately 7,877,956, with trading on a split-adjusted basis starting May 1, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
Rhea-AI Summary
Recon Technology Ltd secures contracts worth over $3 million from a new oilfield-industry customer for electronic components, showcasing the company's expertise and commitment to excellence.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary
Recon Technology Ltd to showcase low value plastic chemical recycling solutions at 2024 Plastics Recycling Conference in Texas.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
-
Rhea-AI Summary
Recon Technology, Ltd announces financial results for fiscal year 2023 with a decrease in total revenue of 19.9% and a net loss of $8.5 million. Gross margin increased to 28.1%. CEO expects growth opportunities in the oil industry and expansion into broader energy sectors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
Rhea-AI Summary
Recon Technology has been granted an additional 180-day period for compliance with NASDAQ's minimum bid price requirement. The Company's ordinary shares need to reach a closing bid price of at least $1.00 per share for ten consecutive trading days by April 22, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
none
SNP

Nasdaq:SNP

SNP Rankings

SNP Stock Data

Petroleum Refineries
Manufacturing
Link
China (Mainland)
Beijing