BEIJING, Aug. 1, 2018
/PRNewswire/ -- Origin Agritech Ltd. (NASDAQ:
SEED), ("the Company" or "Origin") an agriculture
technology and rural e-commerce company, today announced that the
Company's new rural e-commerce subsidiary Beijing State Harvest
Zhongying Network Technology Limited, Co. (ZhongyingNetwork) has
been established and the new on-line application HUIYING has been
launched to provide a rural e-commerce platform for merchandise
across agricultural inputs to consumptions products.
The new e-commerce subsidiary Zhongying Network and its mobile
app follow the strategy SEED+ Rural E-commerce with Blockchain
Technologies, previously disclosed in March of this year (SEC 6-K
filing dated as March 15, 2018). As
described in March, the seed
business is the core of all rural e-commerce business within an overall rural consumer
market of over RMB 5 trillion. With twenty years of
business experience and broad geographic exposure across
China, along with a customer base
of over 30,000 distributors/retailers and over 10 million farmers,
Origin believes it
is uniquely positioned in
the rural e-commerce business to serve hundreds of millions
of potential customers.
Through its new rural e-commerce
business, Origin will significantly expand its business scope from its original corn
seed to a wide range of products. The products to be offered on
Origin's rural e-commerce platform
will include, but will not be limited to, agricultural seed
products (e.g., corn seeds, rice seeds, and vegetable seeds), other
agricultural inputs (e.g., fertilizers and agricultural chemicals),
foods, household products, and other consumer products.
"With the launch of our rural
e-commerce business, we're ready to utilize the brand equity Origin
has built in the rural regions of China and the strong trend of growing rural
consumption," said Dr. James Chen,
Origin's Chief Executive Officer. "We're excited with our new
rural e-commerce business model,
which we believe has many superior
aspects and offers an innovative new e-commerce alternative to the
consumers in thefast growing rural regions in China."
"The new rural e-commerce business presents a great growth
opportunity for Origin, and more importantly it combines our
current seed business in the rural regions with the technologies we
have been developing, including the Blockchain technology in
cooperation with the Elastos Foundation," said Dr. Gengchen Han,
Chairman of the Board of Directors. "We believe the launch of our
rural e-commerce business will provide significant value to Origin
and our shareholders."
About Origin Agritech Limited
Origin Agritech Limited, founded in 1997 and headquartered in
Zhong-Guan-Cun (ZGC) Life Science Park in Beijing,
is China'sleading agricultural technology and a rural social
e-commerce company, expanding in mid- 2018 from crop seed breeding
and genetic improvement business to be a leading technology
developer in new rural e-commerce platform and Blockchain
technologies. 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: http://www.originseed.com.cn or http://www.originseed.com.cn/en/.
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. 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 also involve 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 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.
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SOURCE Origin Agritech Limited