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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 Ltd. (NASDAQ: SEED) has announced a significant expansion of its NEC corn production through a joint venture in Xinjiang, China. The agreement grants the JV 200,000 mu (approximately 33,000 acres) of farmland, with plans to cultivate the entire area by 2024. For the current season, 30,000 mu will be planted. The venture will construct a grain processing facility and has secured offtake agreements for the NEC corn harvest. This initiative is expected to generate an additional $8 million in revenue in 2023, escalating to $55 million in 2024. Importantly, Origin will not incur capital costs for this project, relieving the need for external financing. The successful implementation of this deal is seen as vital for food security in the region.
Origin Agritech Ltd. (NASDAQ: SEED) announced that its GMO corn hybrid is the only triple stacked trait corn selected for a national demo plot in China, aimed for commercial launch in 2023. This hybrid, BFL4-2, features two insect resistance genes and an herbicide resistance gene, making it resistant to major corn pests. Origin's chairman highlighted that the approval for BFL4-2 could happen this summer, positioning the company favorably in the Chinese GMO corn market. The company has filed for variety approval for multiple hybrids and has been preparing for a shift to GMO crops for over a decade, aiming to capitalize on a multi-billion-dollar market opportunity.
For more details, visit originagritech.com.
Origin Agritech Ltd. (NASDAQ: SEED) announced the appointment of Joe Ramelli as Vice President of Business Development. Ramelli, who previously served as Interim CFO of ValenzaBio and CEO of Marina Biotech, has extensive experience in business development. This leadership change aligns with a promising landscape for GMO corn in China, where Origin's drought-resistant corn and nutrition-enhanced corn hybrids are positioned for success. The company plans to expand its production and supply chain capabilities to meet the growing market demand. Chairman Gangchen Han emphasized the vast potential within the agricultural sector, projecting a path towards significant growth.
Origin Agritech Ltd. (NASDAQ: SEED) has launched a joint venture with Sichuan Cloudland Agricultural Science and Technology to increase NEC corn production in Sichuan Province, China. This region is key for animal feed, being China's largest pork producer but facing a corn deficit of 10 million tons annually. The regional government supports this venture due to the efficient feedstock properties of NEC corn. Chairman Dr. Gengchen Han anticipates positive revenue and earnings growth with minimal capital investment needed.
Origin Agritech Ltd. (NASDAQ: SEED) has appointed Dr. Shaojiang Chen as an independent director, effective November 1, 2022. Dr. Chen brings extensive experience in corn breeding and is well-connected in the agritech community in China, which is expected to benefit the company significantly. He has a strong academic background and has held key roles in notable agricultural institutions. This appointment is seen as a strategic move to enhance the company's leadership in agricultural technology.
Origin Agritech Ltd. (NASDAQ: SEED) announced its addition to two new equity indices, the FTSE Micro Cap Index and the FTSE Total Cap Index, effective September 16, 2022. These indices are part of the FTSE Global Equity Index Series, which includes over 16,000 securities from developed and emerging markets. The FTSE Global Micro Cap Index represents the smallest segment of the global equity market, while the FTSE Global Total Cap Index includes large, mid, small, and micro caps globally. This addition may enhance the visibility and accessibility of Origin Agritech to investors.
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.
Origin Agritech Ltd. (NASDAQ: SEED) announced that its Director of Investor Relations, Joe Ramelli, was featured on The Wall Street Resource Podcast. During the interview, he highlighted the company's impressive 300% growth rate and discussed recent partnerships and growth initiatives. The interview is accessible to listeners at no cost via The Wall Street Resource. Origin Agritech is known for its innovations in agricultural biotechnology, including transgenic corn products.
Origin Agritech Ltd. (NASDAQ: SEED) has signed a contract planting agreement with Sichuan Yingdafeng Agriculture Tech Co., Ltd. for the 2023 growing season. The agreement involves the cultivation of 100,000 mu (16,500 acres) of Origin's NEC corn, with Origin guaranteeing to purchase all harvested corn. This expansion in Sichuan Province aims to enhance logistics and reduce shipping costs while supplying corn to local hog farms. The deal reflects Origin's strategy to meet the increasing demand for NEC corn, as stated by Chairman Dr. Gengchen Han.
Origin Agritech Ltd. (NASDAQ: SEED) announced the approval of six new corn varieties by China's National Crop Variety Approval Committee on August 4, 2022. The new varieties include AOYU 728, notable for its resistance to various diseases and higher yields. Additionally, several hybrids offer significant nutritional enhancements, such as 45% more folic acid and higher vitamin E content. Dr. Gengchen Han, Chairman, emphasized the company's accelerated growth in developing innovative corn varieties, highlighting a positive market trajectory for Origin Agritech.
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