Recon Technology, Ltd

Recon Technology, Ltd. has announced its Annual General Meeting (AGM) to be held on December 4, 2026. Key proposals include the re-election of directors Nelson N.S. Wong and Jijun Hu, and the ratification of Enrome LLP as the company's independent auditor for the fiscal year ending June 30, 2027. Significant corporate actions proposed are a reduction in the par value of Class A Ordinary Shares, an increase in the authorized number of Class A Ordinary Shares, and a reverse share split of Class A Ordinary Shares with a ratio to be determined by the Board (between 1:200 and 1:300). Additionally, the company proposes to re-domicile from the Cayman Islands to the British Virgin Islands.

Recon Technology, Ltd announced a 1-for-200 share consolidation of its Class A Ordinary Shares, effective August 18, 2026. This action, approved by the Board and authorized by shareholders, aims to increase the per-share trading price and support the company's continued listing on the Nasdaq Capital Market. Following the consolidation, the number of outstanding Class A shares will decrease from approximately 192.6 million to 963,224, and the authorized Class A shares will be adjusted from 3 billion to 15 million with a higher par value. Fractional shares will be rounded up, and Class B Ordinary Shares remain unaffected.

Recon Technology, Ltd. announced it has entered into an At-the-Market (ATM) Issuance Sales Agreement with Pacific Century Securities, LLC. Under this agreement, the company may sell up to $100 million of its Class A ordinary shares from time to time. The proceeds from any sales are intended for general corporate purposes, including working capital, operating expenses, capital expenditures, potential acquisitions, and other strategic initiatives.

Recon Technology, Ltd. announced it received a notification from The Nasdaq Capital Market on May 4, 2026, indicating non-compliance with the minimum bid price requirement. The company's Class A Ordinary Shares traded below $1.00 for 30 consecutive business days. Recon Technology has a 180-calendar-day period, until November 2, 2026, to regain compliance by achieving a closing bid price of at least $1.00 for a minimum of ten consecutive business days. The notification does not result in immediate delisting, and shares will continue to trade under the symbol "RCON."