BEIJING, Nov. 15,
2022 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ:
SEED) (the "Company" or "Origin"), an agriculture technology
company, announced today that the company has commenced a joint
venture with Sichuan Cloudland Agricultural Science and Technology
("Cloudland"), a subsidiary of Eos Asia Investments Limited
("Eos") to expand production of NEC corn into Sichuan Province, China.
An opportune region for animal feed production, Sichuan Province has the largest production of
pork and is home to 4 of the 10 largest hog farming companies in
China. Nevertheless, Sichuan is only ranked 8th in corn
production which has resulted in a 10-million-ton per annum deficit
in corn for feedstock that must be sourced from other
provinces. Sichuan has
frequently had the highest corn prices in the country. The regional
government has expressed great interest in supporting the growth of
Origin Agritech's NEC corn due to its energy density and resource
efficiency allowing more hogs to be fed per unit of corn.
"I am very excited to joint venture with Cloudland and Eos, a
legendary investor in China", said
Dr. Gengchen Han, Origin Agritech's Chairman. "This will allow us
to quickly expand our production of corn into Sichuan Province next year and will have a
positive impact on revenues and earnings, with little capital
requirement due to the favorable government policies and
local support of our Cloudland JV partner."
About Origin Agritech Limited
Origin Agritech Limited, founded in 1997 and headquartered in
Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is a leading Chinese agricultural
technology company. In crop seed biotechnologies, Origin Agritech's
phytase corn was the first transgenic corn to receive the
Bio-Safety Certificate from China's Ministry of Agriculture. Over the
years, Origin has established a robust biotechnology seed pipeline
including products with glyphosate tolerance and pest resistance
(Bt) traits. For further information, please visit the Company's
website at www.originagritech.com. The company also maintains a
twitter account for updating investors on company and industry
developments, which is @origin_agritech.
Forward-Looking Statements
This communication contains "forward-looking statements" as
defined in the federal securities laws, including Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. Forward-looking
statements address expected future business and financial
performance and financial condition, and contain words like
"expect," "anticipate," "intend," "plan," "believe," "seek,"
"will," "would," "target," and similar expressions and variations.
Forward-looking statements address matters that are uncertain.
Forward-looking statements are not guarantees of future performance
and are based on assumptions and expectations which may not be
realized. They are based on management's current expectations,
assumptions, estimates and projections about the Company and the
industry in which the Company operates but involve a number of
risks and uncertainties, many of which are beyond the company's
control. Some of the important factors that could cause the
company's actual results to differ materially from those discussed
in forward-looking statements are: failure to develop and market
new products and optimally manage product life cycles; ability to
respond to market acceptance, rules, regulations and policies
affecting our products; failure to appropriately manage process
safety and product stewardship issues; changes in laws and
regulations or political conditions; global economic and capital
markets conditions, such as inflation, interest and currency
exchange rates; business or supply disruptions; natural disasters
and weather events and patterns; ability to protect and enforce the
company's intellectual property rights; and separation of
underperforming or non-strategic assets or businesses. The company
undertakes no duty or obligation to publicly revise or update any
forward-looking statements as a result of future developments, or
new information or otherwise, should circumstances change, except
as otherwise required by securities and other applicable
laws. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and actual results may differ materially from
the anticipated results. You are urged to consider these factors
carefully in evaluating the forward-looking statements contained
herein and are cautioned not to place undue reliance on such
forward-looking statements, which are qualified in their entirety
by these cautionary statements.
Joe Ramelli
Director of Investor Relation
Phone: 310-845-6238
Email: joe@originagritech.com
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SOURCE Origin Agritech Limited