FGS and Huitong Dalian previously signed a cooperation agreement in July 2021 to explore the development of an online fuel management system based on the logistics industry to provide a set of management solutions that can meet the needs of G7's customers.
On September 12, 2022, Recon Technology (RCON: NASDAQ) announced that Future Gas Station Technology (FGS), a subsidiary of two mainland China variable interest entities with contractual ties to the Company's subsidiary, Recon Hengda Technology, is expanding on its previous cooperation agreement with its latest packing cooperation memorandum with Huitong Dalian, to jointly launch a new generation of industry solutions to serve the national commercial logistics fleet more efficiently and to explore low carbon sustainability with logistics companies by bringing carbon neutral solutions. Huitong Dalian is a leading Chinese company focused on fleet fuel management and is an affiliate of Beijing Hui Tong Tian Xia IOT Technology.
FGS and Huitong Dalian previously signed a cooperation agreement in July 2021 to explore the development of an online fuel management system based on the logistics industry to provide a set of management solutions that can meet the needs of G7's customers, mainly logistics companies, to manage their fleet fueling behavior and digital operations such as real-time data management and automatic reconciliation. Based on the previous agreement, the two companies will work together further to improve the efficiency of the digital operation platform and introduce FGS's carbon-neutral solution to the logistics industry to create a nationwide online tool for fuel management in the logistics industry.
Recon Technology is China's first NASDAQ-listed non-state-owned oil and gas field service company. Recon supplies China's largest oil exploration companies, Sinopec (SNP: NYSE) and The China National Petroleum Corporation (CNPC), with advanced automated technologies, efficient gathering and transportation equipment and reservoir stimulation measures for increasing petroleum extraction levels, reducing impurities and lowering production costs. Through the years, RCON has taken leading positions within several segmented markets of the oil and gas field service industry. RCON also has developed stable long-term cooperation relationships with its major clients.