Form 6-K Recon Technology, Ltd For: Mar 15

 

U.S. SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of March 2021

 

Commission File Number: 001-34409

 

RECON TECHNOLOGY, LTD

 

Room 1902, Building C, King Long International Mansion

No. 9 Fulin Road

Beijing, 100107

People’s Republic of China

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F   x

Form 40-F  ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

 

 

  

On March 15, 2021, the Registrant has prepared presentation materials (the “Investor Presentation”) that management intends to use at the upcoming Inaugural Emerging Growth Virtual Conference (the “Conference”) on March 17 and 18, 2021. A copy of the Investor Presentation is attached as Exhibit 99.1 hereto and incorporated herein by reference.

 

On March 15, 2021, the Registrant announced that it will be presenting at the Conference.

 

None of this report, the Investor Presentation attached hereto as Exhibit 99.1, or the press release attached hereto as Exhibit 99.2, constitutes an offer to sell, or the solicitation of an offer to buy our securities, nor shall there be any sale of our securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

 

EXHIBIT INDEX

 

Exhibit  No.		Description
99.1		Investor Presentation
99.2		Press Release, dated March 15, 2021

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	RECON TECHNOLOGY, LTD.
Date: March 15, 2021	By:	/s/ Liu Jia
		Name:	Liu Jia
		Title:	Chief Financial Officer

 

 

Exhibit 99.1

 

www.recon.cn Recon Technology, Ltd (Nasdaq: RCON) M Vest LLC and Maxim Group LLC Inaugural Emerging Growth Virtual Conference March 2021 Jia Liu — CFO

Disclaimer Forward - Looking Statements This presentation contains forward - looking statements . All statements other than statements of historical facts may be forward - looking statements . Forward - looking statements generally relate to future events and include, without limitation, projections, forecasts and estimates about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans, and objectives . Some of these statements may include words such as “expects,” “anticipates,” “believes,” “estimates,” “targets,” “plans,” “potential,” “intends,” “projects,” and “indicates . ” Although they reflect our current, good faith expectations, these forward - looking statements are not a guarantee of future performance, and involve a number of risks, uncertainties, estimates, and assumptions, which are difficult to predict . Some of the factors that may cause actual outcomes and results to differ materially from those expressed in, or implied by, the forward - looking statements include, but are not necessarily limited to : the duration and magnitude of the COVID - 19 pandemic and related containment measures ; oil price ; our ability to manage our growth ; the execution of our business strategies, implementation of new initiatives, and improved efficiency ; our sales and marketing efforts ; performance, and cost ; our ability to obtain future regulatory approvals (if necessary) ; our financial estimates and needs for additional financing ; consumer acceptance of and competition for our clear aligners ; our R&D, commercialization, and other activities and expenditures ; the methodologies, models, assumptions, and estimates we use to prepare our financial statements, make business decisions, and manage risks ; laws and regulations governing remote healthcare and the practice of dentistry ; our relationships with vendors ; the security of our operating systems and infrastructure ; our risk management framework ; our cash and capital needs ; our intellectual property position ; our exposure to claims and legal proceedings ; and other factors described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 20 - F for the year ended June 30 , 2020 . New risks and uncertainties arise over time, and it is not possible for us to predict all such factors or how they may affect us . You should not place undue reliance on forward - looking statements, which speak only as of the date they are made . We are under no duty to update any of these forward - looking statements after the date of this presentation to conform these statements to actual results or revised expectations . You should, therefore, not rely on these forward - looking statements as representing our views as of any date subsequent to the date of this presentation . Market and Industry Data This presentation also contains estimates and other statistical data obtained from independent parties and by us relating to market size and growth and other data about our industry and ultimate consumers . This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates and data . In addition, projections, assumptions, and estimates of our future performance and the future performance of the geographic and other markets in which we operate are necessarily subject to a high degree of uncertainty and risk .

Company Overview

Equity Snapshot Ticker RCON ( Nasdaq CM) Market Cap * $54.60 M Stock Price * $2.98 Shares Outstanding ** 18.31M Public Float * 16.13 M Insider Holdings ** 11.0% Institutional Holdings*** 0.44% Industry Oil & Gas Fiscal Year End June 30 Founded 2007 Listed July 2009 * As of March 11, 2021 ** According to proxy statement filed on March 9, 2021 *** https://www.nasdaq.com/market - activity/stocks/rcon/institutional - holdings Revenue (FY2020) $9.30M Margin % 29.8% Net Income $(2.7M) EPS $(0.59) Cash $4.3M Total Assets $27.5M Total Contract Assets $4.46M Total Liabilities $10.4M

Enabling Digital Transformation of Energy Companies. As an independent service integrator , our mission is to help clients improve their efficiency and profitability with leading technologies and comprehensive solutions. Our Business Our Mission Automation System & Service Heating Furnaces & accessories Oily Wastewater treatment & Oily sludge treatment Gas station Operations Services Continuous Innovation Safer Better Customer Experience

Growth Strategy

Technology: Automation & AI & Big Data, ESG Focus * from: http://www.strategyand.pwc.com/reports/improving - oil - gas - efficiency - digital SCADA Big Data, IoTs Digitizing the Future Oilfield* Current automation resolution Data Acquisition + Manual analysis Data Process + Intelligent Analysis

M&A ： Future Gas Station (“FGS”) 460 Operating Gas Stations 5M Monthly active users1.8M + Users 43 .05% 3 times user % in every 3 months Repurchase rate* $2.6M YEAR 2019+2020 Operation revenue $54 Record: 6.7K Ave. income increase for gas station staffs 3% Marketing Costs saved per ton of gasoline* Note: All the numbers here are based on FGS' operation record and the usage reports of its clients as of January 31, 2021.

Gas Station: Huge Market Potential & Great Challenge. 110,000 Gas Stations 300M Car Owners $450B Annual Transaction of Gasoline & Diesel Consumer Energy Market in China* Challenges & Opportunities Insufficient C ustomer U nderstanding Poor C ustomer E xperience Note: All the numbers are based on management’s estimation according to publicly available third - party information and are as of December 2020.

Acquisition ： Future Gas Station (FGS) Dummy Title Producer of Fueling Machines ： Manufacturers to service provider, providing complete transaction records to gas stations owners. Dummy Title Gas Stations ： User Profiling Membership Card System Online payment platform/ Bank / etc. Car owners/ Companies: Cost saved with better experience Staff of Gas Stations: Underlying Infrastructure Business Scenarios Rapid Replication Scale Effect Resource Integration Cross - industry cooperation Better services and less experiences to their clients Reduced work intensity More income More initiative

FGS simplifies the way gas stations operate. People can go to gas stations and refuel their cars by just entering the last 6 digits of their cell phone number. We designed this fuel dispenser - based aggregate payment system and a complete data analysis platform for our clients and provide them with a digital management platform and marketing decision support system, rather than just providing some tools or an isolated SaaS system. We have helped our clients improve efficiency, reduce marketing expense and enhance customer loyalty. —— Mr. Yang Song, founder of FGS

Ready for Rapid Replication ： Client Bases (with No. of gas stations to operate) Shanghai 146 Jiangsu 682 Hunan 620 Yunnan 806 Chongqing 588 Gansu 804 Henan 851 Guangdong 701 Anhui 561 Shandong 958 Hubei 832 Zhejiang 492 Fujian 490 Heilongjiang 1119 Beijing 153 Current client base Target bases for calendar year 2021 Target bases for calendar years 2022 and 2023.

FGS: Three - year Plan * User ： 16.72 Million+ Annual Transaction ： $1.6B Membership ： 1.67 Million+ Service Income* * : $7.08 Million 5,600 Gas Stations 2021 2022 2023 10,792 Gas Stations 15,000+ Gas Stations User ： 32.3 Million+ Annual Transaction ： $4.1B Membership ： 6.18 Million+ Service Income* * : $18.53 Million User ： 44.9 Million+ Annual Transaction ： $10.5B Membership ： 12.56 Million+ Service Income* * : $44.46 Million * Projections are based on recent customer project approvals. * * Include income from transaction services, exclude other value - added services and extended services. Please contact the Company for detailed information and assumptions for the above numbers.

Financials

Financials: Revenue 6.43 8.86 12.8 14.91 9.30 $0.00 $4.00 $8.00 $12.00 $16.00 FY2016 FY2017 FY2018 FY2019 FY2020 Revenue ($ million) FY2016 FY2017 FY2018 FY2019 FY2020 Automation 4.05 3.30 2.87 9.26 7.27 Equipment & Accessories 2.02 3.93 9.66 3.49 2.01 Oilfield Environment Prot. 0.36 1.62 0.27 2.16 0.02 Coronavirus Pandemic DRIVER ： Breakdown of Revenue ; Automation - Oilfield Companies - Other Energy companies - New Technologies developed Oilfield Environment Protection (ESG) - Waste water treatment - Oily Sludge Treatment

FGS Platform Gross Merchandise Volume (“GMV”) Coronavirus Pandemic 8% equity interest 100+ stations deployed Increased to 43% equity interest 460+ stations deployed Increased to 51% equity interest. Recon’s First Investment - Recon’s Second Investment - Recon’s Third Investment -

THANKS! IR Contact : Ms . Liu Jia Chief Financial Officer Recon Technology, Ltd Phone : + 86 ( 10 ) 8494 - 5799 Email : liujia@recon . cn info@recon . cn

Appendix: Management & Directors Mr. Shenping Yin Founder, Director and CEO 18 years of experience in the automation industry Mr. Guangqiang Chen Founder, Director and CTO 30 years of experience in the oil & gas industry Ms. Jia Liu CFO & Investor Relations AICPA, 12+ years of financial management experience Mr. Yongquan Bi, Chairman of the Board Mr. Nelson Wong, Chairman of Audit Committee Mr. Jijun Hu, Chairman of Compensation Committee Mr. Shudong Zhao, Chairman of Nominating Committee Mr. Yonggang Duan, director since March 2020 Independent Directors

Exhibit 99.2

 

Recon to Participate in M Vest LLC and Maxim Group LLC

Inaugural Emerging Growth Virtual Conference

Presenting Innovative Small and Mid-Cap Companies in Healthcare, Industrials, Electric Vehicles, TMT, and Consumer Products

 

BEIJING, March 15, 2021 /PRNewswire/ -- Recon Technology, Ltd (NASDAQ: RCON), (“Recon” or the “Company”), announced today that Company’s Chief Financial Officer, Jia Liu, has been invited to present at Inaugural Emerging Growth Virtual Conference, presented by M Vest LLC and Maxim Group LLC. The conference will take place on March 17 and 18, 2021 from 9:00 am-5:00 pm EDT featuring roundtable discussions with C-suite executives moderated by Maxim Research Analysts, fireside chats with live Q&A, and presentations from hundreds of issuers both domestically and internationally.

 

During this virtual conference, Recon will present along with other important voices in the oil and gas industry. You will also hear from healthcare leaders treating a broad range of indications; cannabis entrepreneurs exploring the changing landscape; tech innovators changing how we work and play, and industrial executives setting new standards. The conference will feature roundtable discussions, issuer presentations, fireside chats, and live Q&A with company CEOs moderated by Maxim Research Analysts. To attend and access exclusive content, just sign up to become an M-Vest member and stay tuned for more updates.

 

To learn more about presenting and attending, sign up for M-Vest HERE.

 

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, 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: www.recon.cn .

 

ABOUT M VEST LLC

 

M Vest LLC (“M-Vest”) is an online investment bank and digital community built for issuers, investors, and thought leaders to share information and access investment opportunities through capital raisings of Regulation D and Regulation A Offerings. Founded in 2017 and headquartered in New York City, M-Vest provides insights on current equity market trends, hosts presentations from public companies, and provides access to capital for emerging growth companies. M-Vest hosts live conferences and webinars featuring CEOs discussing the latest developments in their industries. M-Vest is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC), is a member of FINRA and SIPC, and is a sister company of Maxim Group, LLC.

 

 

ABOUT MAXIM GROUP LLC

 

Maxim Group LLC is a full-service investment banking, securities and wealth management firm headquartered in New York. The Firm provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales & trading, equity research and prime brokerage services. Maxim Group is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) and the Municipal Securities Rulemaking Board (MSRB). Member of FINRA SIPC, and NASDAQ. To learn more about Maxim Group, visit maximgrp.com.

 

For more information about Recon, please contact:

Ms. Liu Jia

Chief Financial Officer

Recon Technology, Ltd.

Phone: +86 (10) 8494-5799

Email: [email protected]

 

 

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