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Recon Technology , Ltd (NASDAQ:RCON), a $39.24 million market cap company specializing in oil and gas field services, announced today the proxy statement for its annual shareholder meeting for the fiscal year ended June 30, 2024. According to InvestingPro data, the company maintains profitability with a P/E ratio of 36.03, though trading at premium valuations. The filing, made with the U.S. Securities and Exchange Commission (SEC), outlines the agenda for the meeting, which is a routine requirement for publicly traded companies.
The shareholder meeting is set to discuss several standard corporate matters, including the election of directors, approval of the company’s auditor, and other pertinent governance issues. The company’s CEO, Shenping Yin, signed the report, emphasizing the importance of shareholder participation in the company’s decision-making process.
Recon Technology operates within the energy and transportation sector, providing services and equipment essential to the oil and gas industry. The company, incorporated under the laws of the Cayman Islands, has its principal executive offices in Beijing, China. Recent InvestingPro analysis shows the company generated $3.45 million in revenue over the last twelve months, with a notable current ratio of 6.88, indicating strong liquidity. Unlock 5+ additional InvestingPro Tips and comprehensive financial metrics to make more informed investment decisions.
This announcement serves as a formal notice to shareholders and indicates Recon Technology’s compliance with SEC regulations and corporate governance standards. The details of the meeting, including specific resolutions to be voted upon, are contained within the proxy statement, a document designed to inform shareholders about matters requiring their vote.
The SEC filing specifies that the information is based on a press release statement, ensuring transparency and accuracy in the communication of corporate affairs to the investing public. Shareholders are encouraged to review the proxy statement and exercise their voting rights in the governance of the company.
The filing did not include any forward-looking statements or projections about the company’s future performance, focusing solely on the procedural aspects of the upcoming shareholder meeting. As is customary with such filings, the notice is a matter of public record and is intended to keep shareholders informed about their rights and the company’s corporate governance practices. While the company maintains profitability, investors should note a significant revenue decline of 47% in the last twelve months, as revealed by InvestingPro’s detailed financial analysis.
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