Origin Agritech Offers Preliminary Assessment of this Year's Corn Harvest
Origin Agritech Ltd. (NASDAQ: SEED) announced strong preliminary corn crop yields despite extreme temperatures and drought affecting other regions in China. The company's superior corn hybrids thrived in conditions that were severe yet less harsh than other areas. Chairman Dr. Gengchen Han emphasized the importance of agritech solutions in combating global warming's impact on food supply. Origin's drought-tolerant GMO corn trait is ready to market pending China's GMO approval, reinforcing its commitment to innovative agricultural technologies.
- High preliminary corn yields reported despite extreme temperatures.
- Strong performance attributed to superior corn hybrids.
- Drought-tolerant GMO corn trait ready for market upon regulatory approval.
- None.
Company Sees Good Yields with Minimal Impact from Extreme Temperatures
BEIJING, Aug. 25, 2022 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), an agriculture technology company, announced today that its preliminary assessment of the health of its soon to be harvested corn crops growing in different regions points to high yields with minimal impact from the extremely high temperatures and drought hitting some areas in China.
Origin attributes the good performance of its corn to its superior corn hybrids and to temperatures in its growing areas, that while higher than average were not quite as extreme as those experienced in other regions.
"We are very fortunate that our corn crops performed well this year as the extreme weather and drought has damaged crops throughout the Northern Hemisphere," said Dr. Gengchen Han, Origin Agritech's Chairman. "Global warming will continue to be an existential risk to food supply, but agritech solutions can help mitigate that risk. For example, Origin has developed a drought tolerant corn GMO trait that will help corn perform much better in drought and high heat. We have integrated the trait into all our corn hybrids and are ready to go to market once China moves to GMO positive."
About Origin Agritech Limited
Origin Agritech Limited, founded in 1997 and headquartered in Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is a leading Chinese agricultural technology company. In crop seed biotechnologies, Origin Agritech's phytase corn was the first transgenic corn to receive the Bio-Safety Certificate from China's Ministry of Agriculture. Over the years, Origin has established a robust biotechnology seed pipeline including products with glyphosate tolerance and pest resistance (Bt) traits. For further information, please visit the Company's website at www.originagritech.com. The company also maintains a twitter account for updating investors on company and industry developments, which is @origin_agritech.
Forward-Looking Statements
This communication contains "forward-looking statements" as defined in the federal securities laws, including Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements address expected future business and financial performance and financial condition, and contain words like "expect," "anticipate," "intend," "plan," "believe," "seek," "will," "would," "target," and similar expressions and variations. Forward-looking statements address matters that are uncertain. Forward-looking statements are not guarantees of future performance and are based on assumptions and expectations which may not be realized. They are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates but involve a number of risks and uncertainties, many of which are beyond the company's control. Some of the important factors that could cause the company's actual results to differ materially from those discussed in forward-looking statements are: failure to develop and market new products and optimally manage product life cycles; ability to respond to market acceptance, rules, regulations and policies affecting our products; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or political conditions; global economic and capital markets conditions, such as inflation, interest and currency exchange rates; business or supply disruptions; natural disasters and weather events and patterns; ability to protect and enforce the company's intellectual property rights; and separation of underperforming or non-strategic assets or businesses. The company undertakes no duty or obligation to publicly revise or update any forward-looking statements as a result of future developments, or new information or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.
Joe Ramelli
Director of Investor Relation
Phone: 310-845-6238
Email: joe@originagritech.com
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SOURCE Origin Agritech Limited
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