Origin Agritech Limited develops agricultural technology and crop seed biotechnology in China, with news centered on corn seed R&D, genetic improvement, commercialization programs, and regulatory authorizations for crop seed production and GMO-related operations. Company updates frequently cover new corn varieties such as Jingke 317, Jinqiao 8, Xundan 203, and Aoyu 728, as well as distributor initiatives including the Golden Harvest Club.
Recurring developments also include biotechnology pipeline work involving glyphosate tolerance, Bt pest-resistance traits, phytase corn, gene editing technology, research collaborations, market expansion in Chinese agricultural regions, annual results, financing actions, and board or finance leadership changes.
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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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.