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Origin Agritech Limited (NASDAQ: SEED) is a prominent Chinese agricultural technology company headquartered in the Zhong-Guan-Cun (ZGC) Life Science Park in Beijing. Founded in 1997, the company specializes in crop seed biotechnologies, focusing on creating genetically modified crops that offer improved yield, pest resistance, and nutritional benefits.
Origin Agritech's notable achievements include the development of phytase corn, which was the first transgenic corn to receive the Bio-Safety Certificate from China's Ministry of Agriculture. The company has established a robust biotechnology seed pipeline with products featuring traits such as glyphosate tolerance and pest resistance (Bt).
Recently, Origin Agritech has seen significant advancements and milestones. In 2023, the company's triple-stack trait corn, featuring BFL4-2, was recognized nationally with its inclusion in the national demo plot. This underscores the exceptional quality and potential of their GMO corn hybrids, with full-scale commercialization expected in 2024. The company's majority-owned joint venture in Shihezi, Xinjiang, has secured farmland for growing nutrition-enhanced corn (NEC) and is nearing the completion of a state-of-the-art 100,000-ton corn drying base. This facility aims to enhance supply chain efficiency and expand production capacity.
In a notable breakthrough, Origin Agritech has developed a novel gene editing method that significantly reduces the backcross procedure from 4-5 years to just one year. This innovation accelerates the conversion of edited traits into commercial lines. The company has also achieved a high-yield corn inbred line through gene editing, showing over 50% yield increase in trials.
Financially, the company reported substantial growth for the fiscal year ending September 30, 2023, with revenues of RMB 93.3 million (US$13 million), up from RMB 52.6 million in the prior year. Despite operational challenges, the company reported a net income of RMB 120 million (US$16.7 million). As of March 31, 2024, Origin Agritech's semi-annual revenue stood at RMB 85-95 million, a 30-40% increase compared to the same period in the previous fiscal year.
Origin Agritech continues to lead in agricultural innovation through its advancements in gene editing and GMO technology, aiming to enhance food security and agricultural sustainability globally.
For more information, please visit the official website or follow their updates on Twitter.
Origin Agritech (NASDAQ: SEED) has established the 'Origin Marker Biological Breeding Service Consortium' in partnership with China Golden Marker Biotechnology Co., This initiative aims to license Origin's GMO insect-resistant and herbicide-tolerant (IR/HT) traits and accelerate the application of its gene editing technology in breeding programs. The consortium will focus on:
- Commercializing the BBL2-2 GMO Maize Event
- Advancing gene editing for maize
- Innovating maize germplasm resources
China Golden Marker has invested 67 million yuan in a state-of-the-art molecular marker laboratory. The consortium has established cooperative relationships with dozens of breeding companies across China and is improving over 100 corn varieties in key corn-producing regions.
Origin Agritech (NASDAQ: SEED) has appointed Mr. Weibin Yan as the new Chief Executive Officer and member of the Board of Directors, effective immediately. Dr. Gengchen Han will continue as Chairman of the Board. Mr. Yan brings extensive experience in agriculture and leadership, having served as Vice-Chairman of the Hunan Provincial Federation of Industry and Commerce, Chairman of Ausnutria Dairy , and in various executive roles at Yuan Longping High-tech Agriculture Co.,
Mr. Yan's previous experience as an independent director of Origin Agritech from 2017 to 2018 provides him with a deep understanding of the company's operations and strategic direction. He holds an MBA from Hunan University. The appointment aims to lead Origin Agritech through its next growth phase, focusing on commercializing GMO technology and gene editing innovations in crop development.
Origin Agritech (NASDAQ: SEED) has appointed Patrick Cheng as Chief Financial Officer and Board Director, effective immediately. With over 30 years of experience in corporate management, investment, and financial control, Cheng brings valuable expertise to drive Origin's financial strategy and operational efficiency. His career includes leadership roles at publicly listed companies in Hong Kong across various industries.
Dr. Gengchen Han, Chairman and CEO of Origin Agritech, expressed confidence in Cheng's ability to enhance financial operations and support long-term growth objectives. Cheng holds an MBA from Cardiff Business School and is a Fellow Member of several professional accounting institutes. He has received industry accolades, including being named the Most Promising REIT Manager in Asia in 2016.
Origin Agritech (NASDAQ: SEED) has appointed Li Yang as Chief Operating Officer (COO) and Board Director, effective immediately. With over 20 years of experience in investment activities and corporate management, Li Yang brings extensive expertise to drive Origin's operational strategy and execution. His background includes directorships in companies listed on Hong Kong stock exchanges, spanning industries such as Natural Resources, Agriculture, and Technology.
Li Yang's appointment is expected to enhance Origin Agritech's market presence and expand its innovative agricultural technologies. He holds a Master's Degree in World Economics from the Chinese Academy of Social Sciences and an MBA from Shenzhen Economic and Management Institute. Dr. Gengchen Han, Chairman and CEO of Origin Agritech, expressed confidence in Li Yang's ability to contribute significantly to the company's growth and success.
Origin Agritech (NASDAQ: SEED), a leading Chinese agricultural technology company, has announced its revenue projections for key product lines through 2029. The company expects significant growth, with total revenue projected to increase from ￥52,580,000 ($7,240,000) in 2022 to ￥958,747,000 ($132,019,000) by 2029. This growth is driven by three main product lines: hybrid seeds, NEC, and GMO.
The projections assume that China's GMO corn will account for 70% of the total corn planting area in 5 years, with Origin aiming for a 5% market share. GMO seeds are expected to contribute revenue starting in 2025, while GMO IP granting business is projected to begin in 2027. The company's CEO, Dr. Gengchen Han, expressed optimism about Origin's growth prospects and its role in addressing global food security challenges.
Origin Agritech (NASDAQ: SEED), a leading Chinese agricultural technology company, announced significant progress in GMO commercialization, hybrid crop performance, and gene editing innovations.
The company received China's GMO safety certificate for its transgenic maize, BBL2-2, and is advancing several hybrids incorporating these traits, expecting approvals within 1-2 years.
Commercial hybrids like OY728 have demonstrated superior yield and resilience, with an improved version due in 2025. The gene editing business has also achieved remarkable breakthroughs, including a high-yield corn inbred line with a 50% yield increase.
Investor questions highlighted near-term revenue from corn variety Aoyu 728 and GMO hybrid corn Aoyu 64BF, which will enter the market soon. The company also plans to commercialize its gene editing platform using CRISPR technology.
Origin Agritech (NASDAQ: SEED), a leading Chinese agricultural technology company, will hold a business update investor webcast on Thursday, July 11, 2024, at 8:00 AM ET (8:00 PM Beijing Time). The webcast will be led by Chairman and CEO Dr. Gengchen Han. Investors can submit written questions by July 1st via email to ir@originseed.com.cn. The event includes a guided presentation accessible via a live webcast. To register for the webcast, visit the provided link. Participants may also join by phone using the specific conference call numbers and ID.
Origin Agritech (NASDAQ: SEED) announced a significant breakthrough in maize gene editing, published in the journal Nature. The study demonstrates the successful use of maize induction line gene editing technology to improve leaf angle in maize inbred lines, potentially enhancing yield at high planting densities. Origin, with China Agricultural University, created the world's first efficient genetic transformation system for maize induction line Hi3, significantly reducing the time required compared to traditional methods. The commercialization of this technology in China is expected within 1-2 years, with a market potential exceeding $1.5 billion. This advancement could revolutionize maize cultivation, improve crop performance, and support sustainable farming.
Origin Agritech (NASDAQ: SEED) reported strong financial results for the first half of FY2024, ending March 31, 2024. The company saw a 39.1% increase in net revenues, reaching RMB 92 million (US$13 million), and decreased operating expenses by 10% to RMB 13.4 million (US$1.9 million). This led to a net profit of RMB 1.4 million (US$0.2 million), compared to a net loss of RMB 1.1 million in the same period last year. Earnings per share were RMB 0.21 (US$0.03).
Operationally, Origin Agritech received a GMO safety certificate for its transgenic maize, BBL2-2. Additionally, two new hybrids are expected to receive regulatory approval by summer 2024, with commercial availability in 2025. The company also announced a breakthrough in high-yield corn, showing a 50% yield increase. Origin Agritech remains focused on securing regulatory approvals and preparing for the commercial launch of new products.
Origin Agritech (NASDAQ: SEED) has received a GMO safety certificate for its transgenic maize, BBL2-2, containing two insect-resistant genes and one herbicide-tolerance gene. The certification marks a significant milestone for the company and the agricultural sector, allowing for the commercial rollout of BBL2-2. This new product is expected to enhance agricultural productivity, sustainability, and pest management, setting a new standard in sustainable agriculture.
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