Origin Agritech Reports Strong Financial Growth and Innovation

Origin Agritech Ltd., a leading Chinese agricultural technology company, has announced impressive financial results for the first half of FY2024, showcasing a robust revenue growth of 39.1%. The company's net revenues surged to RMB 92 million (US$13 million), reflecting a surge in demand for its cutting-edge crop solutions.

The company's operating expenses decreased by 10%, resulting in a total operating income of RMB 4.3 million (US$0.6 million) for the period. Origin Agritech also reported a net profit of RMB 1.4 million (US$0.2 million), marking a significant turnaround from the previous year's losses.

Notably, Origin Agritech obtained a GMO safety certificate for its transgenic maize variety, BBL2-2, which is equipped with insect-resistant and herbicide-tolerance genes, showcasing its commercial potential.

In addition to this achievement, the company's advancements in hybrid developments and gene editing technologies underscore its commitment to crop innovation and global food security.

Dr. Gengchen Han, Chairman and CEO of Origin Agritech, expressed optimism about the company's strategic direction and market demand for its agricultural solutions. Origin Agritech, founded in 1997 and headquartered in Beijing, continues to lead the way in agricultural technology in China.

Origin Agritech's strong financial performance and innovative agricultural solutions position the company for continued growth and success in the industry. With a focus on advancing its product pipeline and securing regulatory approvals, Origin Agritech remains dedicated to enhancing agricultural productivity and driving shareholder value.