Recon Technology Enters into Long-Term Cooperation Agreement With Tianjin Anjie IoT Technology

Pursuant to the agreement, Qinghai BHD and Tianjin Anjie will jointly utilize their business strength, service scope, market resources and technical advantages to explore and develop business opportunities in peak load balancing services for power grid projects.

Qinghai BHD will take advantage of regional resources to cooperate closely with Tianjin Anjie on the development and promotion of energy saving projects, business contracting and technical consulting in China's northwest region.

Qinghai BHD will be responsible for customer development, promotion of Tianjin Anjie's relevant technical services, and for follow-up technical consulting services.

Tianjin Anjie will support Qinghai BHD's marketing and promotion efforts and provide policy and technical support when needed to help expand the market impact of the cooperation.

Tianjin Anjie will also be responsible for the training of customers working with Qinghai BHD to ensure that customer needs are met and quality services are provided. It will also oversee the bookkeeping of all relevant documents, work procedures, forms and billing records in accordance with the agreement.

Qinghai BHD will charge Tianjin Anjie a service fee on a regular basis in accordance with the customers' participation in peak load balancing scheme as approved by the Northwest Power Grid settlement system.

Meanwhile, Tianjin Anjie has signed a power peak load balancing contract with an enterprise customer located in Qinghai Province to provide services for the company's participation in Northwest Power Grid settlement system.

The customer was developed by Qinghai BHD. Qinghai BHD and Tianjin Anjie also continue to develop other potential customers.