Recon Technology to Collaborate with a Premier University in Nanjing

BEIJING, Aug. 6, 2015 /PRNewswire/ -- Recon Technology, Ltd. (NASDAQ: RCON), ("Recon" or the "Company"), a leading independent oilfield services provider operating primarily in China, today announced that it will set up a graduate student workstation (the "Workstation") in collaboration with the College of Information Science & Technology of Nanjing Agricultural University ("CIST-NAU").  

Pursuant to a cooperation agreement entered into on August 5, 2015, by and between CIST-NAU and Nanjing Recon Technology Co., Ltd. ("Nanjing Recon"), the Company's wholly-owned subsidiary which specializes in providing automation services to oilfields in China, the two parties have agreed to set up a scientific research and training base for master's and doctoral students of CIST-NAU.   

"Our faculty and graduate students are excited about the prospect of the Workstation and look forward to fruitful cooperation and collaboration with Recon," commented Dr. Shuiqing Huang, Dean of CIST-NAU.  

"With current enrollment of over 26,400 full-time students, including over 9,400 full-time master's and doctoral students, NAU is a premier university under the administration of Ministry of Education. Often ranked among the nation's top 100 universities, NAU is a national key university with both Project 211 and Project 985 designations," said Mr. Shenping Yin, Chairman and Chief Executive Officer of Recon. "We have high hopes for the Workstation and expect a potential boost in our R&D capabilities through this mutually-beneficial arrangement."   

About Recon Technology, Ltd.

Recon Technology, Ltd. is China's first independent oil and gas field service company listed on NASDAQ. Closely working with leading global partners, Recon has achieved rapid growth supplying China's largest oil and gas exploration companies, including Sinopec and China National Petroleum Corporation, with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measures. The solutions Recon provides are aimed at increasing gas and petroleum extraction levels, reducing impurities, improving safety and lowering production costs. For additional information, please visit: www.recon.cn.

Cautionary Statements

Statements made in this release with respect to Recon's current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Recon. Forward-looking statements include, but are not limited to, those statements using words such as "believe," "expect," "plans," "strategy," "prospects," "forecast," "estimate," "project," "anticipate," "aim," "intend," "seek," "may," "might," "could" or "should," and words of similar meaning in connection with a discussion of future operations, financial performance, events or conditions. From time to time, oral or written forward-looking statements may also be included in other materials released to the public. These statements are based on management's assumptions, judgments and beliefs in light of the information currently available to it. Recon cautions investors that a number of important risks and uncertainties could cause actual results to differ materially from those discussed in the forward-looking statements, including but not limited to, the timing of the development of future products, projections of revenue, earnings, capital structure and other financial items, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the Securities and Exchange Commission. Therefore investors should not place undue reliance on such forward-looking statements. Actual results may differ significantly from those set forth in the forward-looking statements. 

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.

Contact:    

Recon Technology, Ltd.
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Web: http://www.recon.cn

Weitian Investor Relations
Tina Xiao
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SOURCE Recon Technology, Ltd.

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