NEWS ER
Origin Agritech Reports 24.6% Revenue Growth and Key Technological Milestones in Fiscal Year 2024
Monday, 10th February at 5:45 pm
Announces Filing of Annual Report on Form 20-F for Fiscal Year 2024
BEIJING, Feb. 10, 2025 /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, 2024.
Business Accomplishments and Highlights for the Year Ended September 30, 2024:
GMO Development & Commercialization:
• In May 2024, Origin received a GMO safety certificate for its transgenic maize BBL2-2, which contains two insect-resistant genes (Cry1Ab and Cry3Bb) and one herbicide-tolerance gene (Cp4-epsps);
• Four GMO corn hybrids entered national GMO hybrid trials during the first half of 2024, one hybrid is likely to get the approval in 2025 and two others are likely to be approved in 2026; and
• The Company submitted a new application for GMO bt/gt trait biosafety certification
Gene Editing Breakthroughs:
• In June 2024, the Company published research in NATURE describing their breakthrough in maize induction line gene editing technology, establishing the world's first efficient genetic transformation system for maize induction line Hi3; and
• The Company developed more than ten maize gene editing induction lines with various improved traits, including leaf angle reduction, drought resistance, and lodging resistance, and relevant verification and testing are on the way.
Strategic Initiatives:
• In October 2024, Origin established the "Origin Marker Biological Breeding Service Consortium" with China Golden Marker Biotechnology Co., to accelerate licensing and commercialization of the GMO and gene editing technologies of the Company; and
• The consortium established cooperative relationships with dozens of breeding companies across China and is working on improving over 100 corn varieties to expand the possibilities of the Company to collect royalties
Traditional Hybrid Development:
• Two new hybrid varieties completed three years of national trials and are expected to receive approval in the summer of 2025;
• Fifteen new hybrids entered national official registration trials;
• The Company successfully integrated a gene from wild corn into one of its elite commercial hybrids, enabling 10-15% higher planting density and a potential yield increase of more than 10%; and
• The Company has refilled its Hybrid varieties' portfolio and 8 new hybrid varieties which are anticipated to be launched to the market during and after 2025 to enhance the seed sales.
Monday, 10th February at 5:45 pm
Announces Filing of Annual Report on Form 20-F for Fiscal Year 2024
BEIJING, Feb. 10, 2025 /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, 2024.
Business Accomplishments and Highlights for the Year Ended September 30, 2024:
GMO Development & Commercialization:
• In May 2024, Origin received a GMO safety certificate for its transgenic maize BBL2-2, which contains two insect-resistant genes (Cry1Ab and Cry3Bb) and one herbicide-tolerance gene (Cp4-epsps);
• Four GMO corn hybrids entered national GMO hybrid trials during the first half of 2024, one hybrid is likely to get the approval in 2025 and two others are likely to be approved in 2026; and
• The Company submitted a new application for GMO bt/gt trait biosafety certification
Gene Editing Breakthroughs:
• In June 2024, the Company published research in NATURE describing their breakthrough in maize induction line gene editing technology, establishing the world's first efficient genetic transformation system for maize induction line Hi3; and
• The Company developed more than ten maize gene editing induction lines with various improved traits, including leaf angle reduction, drought resistance, and lodging resistance, and relevant verification and testing are on the way.
Strategic Initiatives:
• In October 2024, Origin established the "Origin Marker Biological Breeding Service Consortium" with China Golden Marker Biotechnology Co., to accelerate licensing and commercialization of the GMO and gene editing technologies of the Company; and
• The consortium established cooperative relationships with dozens of breeding companies across China and is working on improving over 100 corn varieties to expand the possibilities of the Company to collect royalties
Traditional Hybrid Development:
• Two new hybrid varieties completed three years of national trials and are expected to receive approval in the summer of 2025;
• Fifteen new hybrids entered national official registration trials;
• The Company successfully integrated a gene from wild corn into one of its elite commercial hybrids, enabling 10-15% higher planting density and a potential yield increase of more than 10%; and
• The Company has refilled its Hybrid varieties' portfolio and 8 new hybrid varieties which are anticipated to be launched to the market during and after 2025 to enhance the seed sales.
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