Recon Technology’s mainland China variable interest entity has entered into a technical service contract with a Dalian-based petrochemical company, Dalian West Pacific Petrochemical Company Limited (WEPEC) to provide three years of operation and maintenance services on metering instruments such as alarms and flow meters that are used for the daily operation of production facilities within refineries.

The total amount of the contract is RMB6.87 million.

Recon will provide technical and maintain services for the Refining Company's operation and maintenance projects of alarms and trade metering flow meters and other metering instruments from 2022 to 2024.

Shenping Yin, Founder and CEO of Recon said, "We are delighted to have secured another long-term service contract for the instrumentation of operation and maintenance for a refining company, which is another significant development for Recon in providing maintenance services for refining companies following a four-year service contract for flammable and toxic gas alarm systems with Yunnan Petrochemical in August 2021.”

WEPEC is the first large-scale Sino-foreign joint venture petrochemical enterprise approved by the State Council of the People's Republic of China and jointly invested by Chinese and French shareholders, and is also a landmark project in China's energy industry with opening up to foreign cooperation.