Recon Technology, Ltd. (RCON) - Not Halal (Non-Compliant)
Recon Technology, Ltd. (RCON) is classified as Not Halal (Non-Compliant) according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
- Sector
- Energy
- Industry
- Oil & Gas Equipment & Services
- Result
- Pass
- Reason
- The sector "Energy" and industry "Oil & Gas Equipment & Services" are not in the excluded categories.
Financial Ratios
- Debt Ratio
- Value: 30.6% | Threshold: 30% | Result: Fail
- Cash & Interest-bearing Securities Ratio
- Value: 60.9% | Threshold: 30% | Result: Fail
- Non-Permissible Income Ratio
- Value: 33.3% | Threshold: 5% | Result: Fail
Dividend Purification
Purification percentage: 33.26%.Based on the company's financial statements, approximately 33.26% of dividend income should be donated to charity for purification. This is derived from identified interest income (33.26% of total income). Some scholars may differ on the exact calculation method.
About Recon Technology, Ltd.
Recon Technology, Ltd. provides hardware, software, and on-site services to companies in the petroleum mining and extraction industry in China. It operates through four segments: automation product and software, equipment and accessories, oilfield environmental protection, and platform outsourcing services. The Company offers specialized equipment, automation systems, tools, chemicals, outsourcing platform services, and field services to energy industry companies; equipment, tools, and other components and parts related to oilfield production and other energy industries; and develops and sells industrial automation control and information solutions. It is also involved in designing, testing, and implementing solutions for sewage, oily sludge treatment; and produces and sells integrated equipment and project services. In addition, the company develops, upgrades, and maintains online operation platform of gas stations, marketing, and promotion related services, as well as engages in production and efficiency of exploited oil wells business and plastic chemical cycle activities. Further, it provides equipment for oil and gas production and transportation, including heating furnaces, burner, waste water and oil treatment products and services, chemical recycling plan, automation system and service; and operates platform services comprising intelligent marketing system and digitalization solution for gas stations. Recon Technology, Ltd. was incorporated in 2007 and is based in Beijing, China.