Recon Technology provides oilfield automation equipment, software, and field services to petroleum companies in China. Recon operates through two core entities: BHD, which manufactures and sells heating furnaces and burners used to remove impurities from crude oil and prevent pipeline blockage, and also operates oilfield wastewater treatment and oily sludge disposal businesses; and Nanjing Recon, which develops and deploys automation systems including SCADA, pumping unit controllers, and wireless sensors, and provides digital oilfield transformation services. Recon sells almost entirely to Chinese state-owned oil companies — CNPC accounts for roughly 44% of revenue and Sinopec approximately 17%. Revenue is project-based rather than recurring, making it lumpy and heavily dependent on the procurement decisions of these two customers. Recon is also developing a plastic chemical recycling business in Shandong, using pyrolysis to process mixed plastics, though this unit is still under construction. Recon's stated strategy is to shift its mix toward proprietary, higher-margin products and away from lower-margin equipment trading, and the company spends meaningfully on R&D to develop proprietary automation software and hardware. Recon also holds a minority stake in Future Gas Station, which provides digital management solutions to gas stations.