BEIJING, Nov. 19, 2018 /PRNewswire/ -- Origin
Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), an
agriculture technology and rural e-commerce company, today
announced that the Company and Balin Youqi Enze Agricultural and
Forest Development Co, Ltd (Enze) have entered into a long-term
strategic agreement to develop and cultivate 1 million mu (~165,000
acres) of saline-alkaline land in Balin Youqi, Inner Mongolia.
Enze, based in Balin Youqi, Inner Mongolia, has been promoting
the prevention and control of desertification and saline-alkali
soil. Enze is devoted to the construction of demonstration bases of
ecological industry, which are based on scientific and
technological research on desertification and saline-alkali soil.
Enze has been working with the local government to achieve the
objectives of reclaiming and cultivating 1 million mu of
desertified and saline-alkaline land in three years. Origin and
Enze plan to apply the Integrated Saline-Alkaline Land Reclamation
("ISALR") technology that Origin and Longhan are currently working
on and was announced previously.
Longhan and Enze have been working toward the cooperation
project for several months and Enze has finally chosen the ISALR
technology. With this strategic cooperation, the ISALR team from
Origin and Longhan has already started to work with the team from
Enze to develop the detailed plans for the first stage of land
reclamation project and identified over 100,000 mu (~16,500acres)
of the desertified and saline-alkaline land to cultivate in the
2019 season.
About Origin Agritech Limited
Origin Agritech Limited, founded in 1997 and headquartered in
Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is China's leading 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, 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.
View original
content:http://www.prnewswire.com/news-releases/origin-agritech-and-enze-entered-strategic-agreement-to-reclaim-and-cultivate-1-million-mu-of-saline-alkaline-land-300752844.html
SOURCE Origin Agritech Limited