The company’s shift toward international markets served as the primary engine for its automation and software division, which saw revenue jump 104.5%. This growth in overseas projects helped offset a decline in domestic maintenance activity. CEO Shenping Yin noted that the company plans to reallocate personnel in the coming year to shore up its domestic service capabilities while maintaining its international footprint.
Beyond traditional oilfield services, Recon recently signaled a diversification into the circular economy. On September 28, the company launched a waste plastic chemical recycling plant in Weifang, Shandong Province. The facility is designed to process 40,000 tons of waste annually, producing pyrolysis oil and carbon residue. Management aims to bring this plant to full commercial production in fiscal 2027 to stabilize long-term growth against a backdrop of volatile oil prices and shifting macroeconomic conditions.
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