BEIJING, Feb. 27,
2024 /PRNewswire/ -- Origin Agritech Ltd.
(NASDAQ: SEED) (the "Company" or "Origin"), a leading Chinese
agricultural technology company, today announced a breakthrough
development in its commercial corn hybrid offerings. Origin
Agritech has successfully integrated a gene from wild corn into one
of its elite commercial corn hybrids for the first time in the
industry. This approach represents a significant scientific
milestone and sets a new benchmark for crop yield performance and
efficiency.
The integration of the wild corn gene marks the world's first
instance of using genetics from wild corn—a type of grass—to
enhance the performance of commercial corn hybrids. This innovative
genetic modification has improved plant type and photosynthesis
efficiency, enabling the hybrid to achieve higher yields by
supporting increased plant density per acre.
One of Origin Agritech's mainstay commercial hybrids, which has
been a market leader for over 20 years due to its superior
performance, has been the focus of this enhancement. The improved
version of this hybrid can now be planted at a 10-15% higher
density, offering a potential yield increase of more than 10%. This
advancement is expected to drive the new hybrid to replace the
current version within two years, further solidifying Origin
Agritech's market share and leadership in the agricultural
sector.
Dr. Gengchen Han, Chairman and CEO of Origin Agritech, stated,
"This breakthrough is a testament to Origin Agritech's commitment
to innovation and our continuous efforts to push the boundaries of
agricultural technology. By harnessing the untapped potential of
wild corn genes, we have significantly improved our hybrid's
performance, setting a new standard for efficiency and yield in the
industry. We anticipate the enhanced hybrid will replace its
predecessor and capture more market share thanks to its superior
performance and adaptability. This is a proud moment for our team
and a major step forward in our mission to provide sustainable and
high-performing agricultural solutions to the world."
Origin Agritech is dedicated to leveraging cutting-edge
biotechnological research to develop crops with higher yields,
improved nutritional profiles, and better adaptability to
environmental challenges. This latest innovation underscores the
company's role as a leader in the global agritech industry and its
commitment to enhancing food security and farming efficiency
worldwide.
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 https://x.com/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 that 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, 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
that such expectations will be correct. 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. You are cautioned not to place undue
reliance on such forward-looking statements, which are qualified in
their entirety by these cautionary statements.
For more information, please contact:
Origin Agritech Limited Contact:
Kate Lang (Mandarin/English)
Director of Investor Relations
Phone: +86 186-1839-3368
Email: bing.lang@originseed.com.cn
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
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SOURCE Origin Agritech Limited