Recon Technology, Ltd., a China-based independent solutions integrator in the oilfield service, electric power and coal chemical industries, today announced that Future Gas Station (Beijing) Technology, Ltd (“FGS”), of which Recon indirectly owns 8%, has recently entered into a strategic cooperation agreement with JD Finance, to establish an information communication mechanism and long term cooperation relationship. JD Finance is the financial technology arm of JD.com, China’s largest online direct sales company. This cooperation will allow customers to refuel their vehicles though the JD Finance App, which will be supported by the FGS platform and linked to the FGS database.
Management Commentary
“We’re excited to see this cooperation between two segment leading companies,” stated Mr. Yin Shenping, CEO of Recon, “We are constantly seeking new opportunities to introduce FGS to companies in the car, finance and new retail industries so that such companies may benefit from FGS’ gas station platform expertise. We will continue to support FGS’ efforts to improve its business and platform.”
Mr. Song Yang, the founder of FGS, said, “We enthusiastically welcome JD Finance to the FGS platform. Supported by JD Finance, we believe FGS can provide more services to consumers. FGS is proud to provide technology that improves consumers’ lives and travel experiences. Through the great power of JD’s big data analysis and user operation capabilities, FGS can reach and engage users more precisely, enhance intelligent marketing management and extend consumption guidance. In the future we aim to cooperate with JD Finance to develop a comprehensive plan for the digital transformation of gas stations of CNPC. This plan reflects our priority to implement multichannel operations and refine user functionality, as we aim to continuously improve the experience of consumers.”
