During the corresponding time, Recon Technology Ltd recorded a revenue increase by 2.87 % year on year, While revenue at the Recon Technology Ltd's corporate clients
Recon Technology Ltd's Comment on Sales, Marketing and Customers
We operate our business by cooperating with oil companies and their subsidiaries,
the petroleum administration bureau and local service companies. Most actual control
of our direct and indirect clients can be traced to Sinopec and CNPC, the two
major Chinese state-owned companies responsible for on-shore petroleum mining
and extraction. We have conducted automation projects for plants in three of China’s
four highest producing oilfields, Daqing, Shengli and Xinjiang. We have undertaken
the automation projects at the following locations, among others:
Sinopec
• Jiangsu Oil Field
• Shengli Oil Field
• The Northwest Division
• The Southwest Division
• Zhongyuan Oil Field
• Sichuan Oil Field
• Jianghan Oil Field
We provide products and services to Sinopec under a series of agreements, each
of which is terminable without notice. We first began to provide services to
Sinopec in 1998. Sinopec accounted for approximately 3.75%, 8.85% and 6.82%
of our revenues for the fiscal years ended June 30, 2017, 2016 and 2015, respectively,
and any termination of our business relationships with Sinopec would materially
harm our operations.
CNPC
• Qinghai Oil Field
• Tuha Oil Field
• Daqing Oil Field
• Jidong Oil Field
• Sichuan Oil Field
• Xinjiang Oil Field
• Huabei Oil Field
• Jilin Oil Field
• Changqing Oil Field
Recon Technology Ltd’s Comment on Sales, Marketing and Customers
We operate our business by cooperating with oil companies and their subsidiaries,
the petroleum administration bureau and local service companies. Most actual control
of our direct and indirect clients can be traced to Sinopec and CNPC, the two
major Chinese state-owned companies responsible for on-shore petroleum mining
and extraction. We have conducted automation projects for plants in three of China’s
four highest producing oilfields, Daqing, Shengli and Xinjiang. We have undertaken
the automation projects at the following locations, among others:
Sinopec
• Jiangsu Oil Field
• Shengli Oil Field
• The Northwest Division
• The Southwest Division
• Zhongyuan Oil Field
• Sichuan Oil Field
• Jianghan Oil Field
We provide products and services to Sinopec under a series of agreements, each
of which is terminable without notice. We first began to provide services to
Sinopec in 1998. Sinopec accounted for approximately 3.75%, 8.85% and 6.82%
of our revenues for the fiscal years ended June 30, 2017, 2016 and 2015, respectively,
and any termination of our business relationships with Sinopec would materially
harm our operations.
Sources:
Recon Technology Ltd’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Recon Technology Ltd’s corporate clients.
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