Estimated Revenue Growth of 30-40% in the First Half of FY 2024 Two New Hybrids Completed National Trials and Four GMO Corn Hybrids Currently in National Trials BEIJING, April 2, 2024 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), a leading Chinese agricultural technology company, provided an update on its financial and operational performance. Origin Agritech reported an estimated half-year revenue of RMB 85-95 million, an increase of 30-40% compared to the same period in ...

Inbred Line Yield Increased Over 50% in Trials BEIJING, March 20, 2024 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), a leading Chinese agricultural technology company, today announced a major breakthrough in corn production technology. Building on the Company's track record of innovation, Origin Agritech has developed a high-yield corn inbred line that significantly surpasses the productivity of traditional corn. This groundbreaking advancement was achieved through precise ...

Announces Filing of Annual Report on Form 20-F for Fiscal Year 2023 BEIJING, Feb. 21, 2024 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), a leading Chinese agricultural technology company, today announced financial results for the year ended September 30, 2023. Management Commentary Dr. Gengchen Han, Chairman and CEO of Origin Agritech, stated, "This past year has been a pivotal year for Origin Agritech, marked by significant advancements that position us for an unprecedent ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

BEIJING, Jan. 18, 2024 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), a leading Chinese agricultural technology company, today announced that it has submitted an appeal to Nasdaq's Listing Qualifications Department to request a further extension of time and present its plan to regain compliance with Nasdaq Listing 5550(b)(2). The Company is committed to maintaining its Nasdaq listing and is confident it can meet continuing listing compliance. The requested appeal stays any ...

Financial Performance - For the fiscal year ended September 30, 2022, revenue was RMB 52.6 million (US$7.4 million), an increase of 13.4% from RMB 46.4 million in the previous fiscal year[265]. - Net income from continuing operations for the fiscal year ended September 30, 2022, was RMB 2.3 million (US$0.33 million), a turnaround from a net loss of RMB 127 million in fiscal year 2021[268]. - Total operating expenses decreased significantly to RMB 29.1 million (US$4.1 million) in fiscal year 2022 from RMB 150.7 million in fiscal year 2021, primarily due to the absence of large impairment and bad debt provisions[265]. - For the fiscal year ended September 30, 2022, revenue was RMB 52.6 million (US$7.4 million), an increase of 4.5% from RMB 46.4 million in the previous fiscal year, primarily due to the reopening of the Xinjiang facility and strong market performance of new hybrids[288]. - Net income from continuing operations for the fiscal year ended September 30, 2022, was RMB 2.3 million (US$0.33 million), a significant recovery from a net loss of RMB 127 million in fiscal year 2021[293]. - The company incurred net losses from continuing operations of RMB 102.8 million, RMB 127.1 million, and net income of RMB 2.3 million in the years ended September 30, 2020, 2021, and 2022, respectively[320]. - The company reported recurring losses from operations, raising substantial doubt about its ability to continue as a going concern[452]. - As of September 30, 2022, the company had net current liabilities and an accumulated deficit[452]. Research and Development - Research and development expenses increased to RMB 7.4 million (US$1.05 million) in fiscal year 2022, compared to RMB 2 million in fiscal year 2021, reflecting a commitment to biotech product development[266]. - The company received a grant of RMB 6.5 million (US$0.95 million) from the Chinese Ministry of Agriculture and Rural Affairs for the evaluation of its GMO corn traits, highlighting government support for its research efforts[260]. - The company expects to apply for a safety certificate for drought-resistant transgenic corn in March 2023, with the first batch of hybrids anticipated in 2024[261]. - The company has integrated insect-resistant and herbicide-tolerant traits into corn inbred lines and expects to obtain new variety approval by the end of 2023, entering the market in 2024[262]. - The company expects a government grant for R&D in 2023, which will help offset research and development expenses[292]. - The company has established several plant genetic engineering technology platforms and possesses exclusive rights to five genetic traits currently in various stages of testing and development[277]. Operating Expenses - Total operating expenses for the fiscal year ended September 30, 2022, were RMB 29.1 million (US$4.1 million), significantly lower than RMB 150.7 million in fiscal year 2021, mainly due to a decrease in General and Administrative expenses[289]. - Selling and marketing expenses for fiscal year 2022 were RMB 7.3 million (US$1 million), compared to RMB 5.6 million in fiscal year 2021, reflecting the company's strategy to improve distribution efficiency through joint ventures[290]. - General and administrative expenses for the fiscal year ended September 30, 2022, were RMB 14.3 million (US$2.0 million), a substantial decrease from RMB 73.3 million in the previous year due to the absence of large impairment and bad debt provisions[291]. Shareholder Information - The company has never declared or paid dividends and plans to retain all available funds for business operations and expansion[369]. - Gengchen Han, the Chairman and CEO, holds 836,383 shares, representing 13.18% of total shares[358]. - Tiger Capital Fund SPC is a major shareholder, owning 1,696,450 shares, which is 23.25% of total shares[360]. - The company has filed documentation with Nasdaq to exempt itself from certain shareholder approval requirements under BVI law[355]. - The company does not plan to seek shareholder approval for changes in equity award plans or issuances exceeding 20% of outstanding shares at less than market price[355]. Corporate Governance - The company is incorporated under the laws of the British Virgin Islands and follows its home country practices regarding corporate governance, including the composition of the board of directors[353]. - The Audit Committee consists of independent directors, including Fei Wang, Michael Trimble, and Min Lin, ensuring compliance with Nasdaq independence criteria[346]. - The Compensation Committee administers the equity award plans and is responsible for reviewing compensation policies for directors and senior employees[350]. - The Nominating Committee is tasked with identifying and recommending candidates for the board of directors, ensuring a balance of knowledge and experience[351]. - The company has established a three-year non-competition period for executives, protecting confidential information as part of employment agreements[345]. Financial Position - Total assets increased to RMB 136 million as of September 30, 2022, compared to RMB 119 million in the previous year[268]. - As of September 30, 2022, cash and cash equivalents were approximately RMB 17.7 million, an increase from RMB 15.4 million in 2021[312]. - Net cash used in operating activities improved to RMB 3.3 million in 2022 from RMB 25.1 million in 2021[314]. - The company has a contractual obligation of RMB 1.62 million for operating lease obligations as of September 30, 2022[331]. Audit and Compliance - The company has identified a material weakness in its internal control over financial reporting, concluding that these controls were not effective[425]. - The company plans to address internal control issues by recruiting a new CFO and expanding its accounting staff, but faces challenges due to a lack of qualified candidates and staffing difficulties related to the Covid-19 pandemic[426]. - Audit fees for the fiscal year ended September 30, 2022, amounted to $200,000, an increase from $175,000 for the previous fiscal year[432]. - The company incurred audit-related fees of $20,000 for the fiscal year ended September 30, 2022, compared to nil for the previous year[433]. - The company has not engaged its principal accountant for any tax compliance or planning services during the fiscal years ended September 30, 2021, and 2022[434]. - The Audit Committee pre-approves all auditing and permitted non-audit services performed by the independent auditor[436]. Regulatory Environment - The company is subject to the informational requirements of the Exchange Act as a foreign private issuer and files reports with the SEC[415]. - The company has been granted exemptions from certain Nasdaq listing standards as a foreign private issuer[437]. - The company is subject to the regulations of the Public Company Accounting Oversight Board (PCAOB)[453]. Market Conditions - The average inflation rate in China was 2.1% from 2015 to the end of 2021, with a forecasted annual rate of 2% for the next several years[421]. - The overall national inflation rate in China was approximately 2.4%, 1.07%, and 2.8% for the fiscal years ended September 30, 2020, 2021, and 2022, respectively[421]. - The company expects inflation to affect food prices, as producer price increases may push through to consumer prices[421]. - The company believes its exposure to foreign exchange risks is limited, although fluctuations in the Renminbi may still impact its financial position[419]. - The company recorded a foreign exchange loss of RMB 1.8 million (approximately US$0.26 million) for the twelve months ended September 30, 2022, due to currency fluctuations[420].

Origin Agritech Limited (NASDAQ:SEED) Q2 2022 Earnings Conference Call May 5, 2022 8:00 AM ET Company Participants Kirin Smith - PCG Advisory Gengchen Han - Chairman and CEO Wei Han - VP of Business Development Joe Ramelli - Director of IR Conference Call Participants Bill Stein - Celadon Financial Howard Yeager - Newbridge Securities Operator Hello and welcome to the Origin Agritech First Half 2022 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today' ...