Origin Agritech Stock Price, News & Analysis

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.