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 May 2024
Commission File Number: 001-34409
RECON TECHNOLOGY, LTD
Room 601, No. 1 Shui'an South Street
Chaoyang District, Beijing, 100012
People's Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant filesor will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F Form 40-F
x ..
Indicate bycheck mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):
..
Indicate bycheck mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):
..
Explanatory Note:
As previously reported, on April 27, 2023, ReconTechnology Ltd. (the
"Company") received a written notice (the "Initial Notice") from the Listing
QualificationsStaff (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq")
notifying the Company that for 30 consecutive businessdays preceding the date
of the Notice, the bid price of the Company's ordinary shares had closed below
the $1.00 per share minimumrequired for continued listing on The Nasdaq
Capital Market pursuant to the Minimum Bid Price Rule. The Company was
provided 180 calendardays, or until October 24, 2023, to regain compliance
with the Minimum Bid Price Rule. On October 25, 2023, the Staff granted an
additional180 calendar days, or until April 22, 2024 to regain compliance with
the Minimum Bid Price Rule.
Additionally, as previously disclosed, on April23, 2024 the Company received a
subsequent written notice from the Staff indicating that the Staff had
determined to delist the Company'ssecurities from The Nasdaq Capital Market
based upon the Company's continued non-compliance with the $1.00 bid price
requirementunless the Company timely requested a hearing before the Nasdaq
Hearings Panel (the "Panel"). The Company timely requesteda hearing before the
Panel, and a hearing was scheduled.
Since the Company effected aneighteen-for-one reverse stock split on May 1,
2024, the Company received a letter dated May 22, 2024 (the "ComplianceLetter")
from the Listing Qualifications Hearings Department of Nasdaq notifying the
Company that (i) the Company'sbid price deficiency had been cured and (ii) the
Company was in compliance with all applicable listing standards. Accordingly,the
Compliance Letter provided that the Company's scheduled hearing had been
determined to be moot and had been cancelled, andthe Company's ordinary shares
will continue to be listed and traded on The Nasdaq Capital Market.
Exhibits
Exhibit 99.1 Press release dated May 23, 2024 .
SIGNATURES
Pursuant to the requirementsof the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereuntoduly authorized.
RECON TECHNOLOGY, LTD
Date: May 23, 2024 By: /s//Jia Liu
Name: Jia Liu
Title: Chief Financial Officer
Exhibit 99.1
Recon Technology Regains Nasdaq Compliance; Hearing Moot
BEIJING, May 23, 2024 /PRNewswire/ -- Recon Technology,Ltd. (NASDAQ: RCON)
("Recon" or the "Company") announced today that on May 22, 2024, it had
received a letterdated May 22, 2024 (the "Compliance Letter") from the Listing
Qualifications Hearings Department of Nasdaq notifying the Companythat (i) the
Company's bid price deficiency had been cured and (ii) the Company was in
compliance with all applicable listing standards.Accordingly, the Compliance
Letter provided that the Company's scheduled hearing had been determined to be
moot and had been cancelled,and the Company's ordinary shares will continue to
be listed and traded on The Nasdaq Capital Market.
About Recon Technology, Ltd.
Recon Technology, Ltd (NASDAQ: RCON) is the People'sRepublic of China's first
NASDAQ-listed non-state owned oil and gas field service company. Recon
supplies China's largestoil exploration companies, Sinopec (NYSE: SNP) and The
China National Petroleum Corporation ("CNPC"), with advanced automatedtechnologi
es, efficient gathering and transportation equipment and reservoir stimulation
measure for increasing petroleum extractionlevels, reducing impurities and
lowering production costs. Through the years, RCON has taken leading positions
within several segmentedmarkets of the oil and gas filed service industry.
RCON also has developed stable long-term cooperation relationship with its
major clients.For additional information please visit:
http://www.recon.cn/
.
Forward-Looking Statements
Recon includes "forward-looking statements"within the meaning of the federal
securities laws throughout this press release. A reader can identify
forward-looking statements becausethey are not limited to historical fact or
they use words such as "scheduled," "may," "will," "could,""should," "would,"
"expect," "believe," "anticipate," "project,""plan," "estimate," "forecast,"
"goal," "objective," "committed,""intend," "continue," or "will likely
result," and similar expressions that concern Recon'sstrategy, plans,
intentions or beliefs about future occurrences or results. Forward-looking
statements are subject to risks, uncertaintiesand other factors that may
change at any time and may cause actual results to differ materially from
those that Recon expected. Many ofthese statements are derived from Recon's
operating budgets and forecasts, which are based on many detailed assumptions
that Reconbelieves are reasonable, or are based on various assumptions about
certain plans, activities or events which we expect will or may occurin the
future. However, it is very difficult to predict the effect of known factors,
and Recon cannot anticipate all factors that couldaffect actual results that
may be important to an investor. All forward-looking information should be
evaluated in the context of theserisks, uncertainties and other factors,
including those factors disclosed under "Risk Factors" in Recon's most
recentAnnual Report on Form 20-F and any subsequent half-year financial
filings on Form 6-K filed with the Securities and Exchange Commission.All
forward-looking statements are qualified in their entirety by the cautionary
statements that Recon makes from time to time in itsSEC filings and public
communications. Recon cannot assure the reader that it will realize the
results or developments Recon anticipates,or, even if substantially realized,
that they will result in the consequences or affect Recon or its operations in
the way Recon expects.Forward-looking statements speak only as of the date
made. Recon undertakes no obligation to update or revise any forward-looking
statementsto reflect events or circumstances arising after the date on which
they were made, except as otherwise required by law. As a result ofthese risks
and uncertainties, readers are cautioned not to place undue reliance on any
forward-looking statements included herein orthat may be made elsewhere from
time to time by, or on behalf of, Recon.
For more information, please contact:
The Company
Ms. Liu Jia
Chief Financial Officer
Recon Technology, Ltd
Phone: +86 (10) 8494-5799
Email:
info@recon.cn