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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 order worth $35 million from Muyuan Foods, China's largest hog farming company. This order is part of a broader 100 million metric ton purchase agreement over five years. Muyuan intends to grow Nutritionally Enhanced Corn (NEC) in its 494,000 acres farmland, aiming to reduce livestock feed costs and carbon footprint. The collaboration signifies a strategic partnership between the two companies, leveraging Origin's innovative agricultural technologies.
Origin Agritech Ltd. (NASDAQ: SEED) announced that five new sweet and waxy corn hybrid varieties have completed registrational trails and are awaiting production approval. These hybrids include a sweet corn variant enriched with 45% more folic acid and others with increased vitamin E and phenolic compounds, targeting the rising demand in the Chinese market. Additionally, the company is testing hundreds of Nutritionally Enhanced Corn (NEC) hybrids for animal feedstock across major corn-producing areas in China in 2022.
Origin Agritech Ltd. (NASDAQ: SEED) announced a supply agreement with Yunnan Feeding Company for 20,000 metric tons of nutritionally enhanced corn (NEC), valued at RMB62 million ($9.2 million). This order adds to a previous agreement of 50,000 metric tons, bringing the total backlog to RMB217 million ($32 million). The company expressed satisfaction with the growing demand for NEC and is focused on ramping up production. This growth reflects the positive reception in the feedstock industry.
Origin Agritech Ltd. (NASDAQ: SEED) reported significant financial growth in the first half of fiscal 2022, with revenues of RMB46.4 million (US $7.3 million), a remarkable 300% increase compared to the previous year. The company achieved a net income of RMB1.3 million (US $0.2 million) or $0.03 per share. Although operating expenses rose by 18% to RMB14.3 million, the strong demand for its new corn varieties drove this growth. Origin reaffirms a full-year guidance of 300% sales growth amid expanding production capabilities and upcoming product launches.
Origin Agritech Ltd. (NASDAQ: SEED) announced it will release its first half 2022 financial results on May 5, 2022, before the market opens, followed by a conference call at 8:00 AM ET. Participants can join via domestic access at 1 (877) 270-2148 or international access at 1 (412) 902-6510. A live webcast will be available and the replay can be accessed until May 12, 2022. Additionally, Origin plans to shift to quarterly reporting starting in 2023 to provide more timely updates to investors.
Origin Agritech Ltd. (NASDAQ: SEED) has signed agreements to sell 50,000 metric tons of its nutritionally enhanced corn to feedstock companies. This new corn reduces reliance on costly additives, potentially doubling company margins. The agreements stipulate that corn will be sold at market prices with an additional markup. Estimated revenue from these sales could reach around 150 million RMB. The company is evaluating the financial impact and may update its guidance. This product's launch has received positive industry feedback, enhancing food security in China amid supply chain disruptions.
Origin Agritech Ltd. (NASDAQ: SEED) announced the submission of biosafety applications for six new gene-edited corn traits that enhance yield. These traits improve leaf angle and drought tolerance, increasing photosynthesis efficiency and water use. Following China's streamlined approval process for gene-edited crops, which could reduce the typical timeline from eight years for GMOs to one year, Origin's new corn is among the first of its kind in the approval pipeline. The company aims to address global food security challenges with these innovations.
Origin Agritech Ltd. (NASDAQ: SEED) has announced the establishment of a new subsidiary in Hainan to enhance its nutrition-enhanced corn production capabilities. This subsidiary will focus on research, seed production and feed corn production, leveraging three corn growing seasons annually. Over 50,000 Mu of feed corn has been contracted for the 2022 growing season, with expectations for significant growth. The company's corn reduces the need for costly additives, presenting cost-saving opportunities for feedstock companies amidst rising global grain prices.
Origin Agritech Ltd. (NASDAQ: SEED) announced a projected revenue increase exceeding 300%, reaching over 150 million RMB for fiscal 2022. This growth stems from both its hybrid seed business and the introduction of nutritionally enhanced crops. Already sold out for this planting season due to heightened pre-orders, Origin plans to expand production capabilities. The company anticipates substantial revenue from a partnership with BaoDao Feed Ltd, with prospects of additional partnerships leveraging GMO and CRISPR technologies.
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