Origin Agritech Announces Breakthrough in Corn Hybrid Development with Wild Corn Gene Integration
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
