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Origin Agritech Signs New Contract Planting Agreement with Sichuan Yingdafeng Agricultural Tech
BEIJING, Aug. 11, 2022 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), an agriculture technology company, announced today
About this update from Origin Agritech Limited
[{"type":"text","content":"BEIJING, Aug. 11, 2022 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the \"Company\" or \"Origin\"), an agriculture technology company, announced today that the company has signed a contract planting agreement with farming company Sichuan Yingdafeng Agriculture Tech Co., Ltd.\nUnder the terms of the agreement, Sichuan Yingdafeng will grow 100,000 mu (or 16,500 acres) of Origin's NEC corn for the 2023 growing season. Origin will provide the seed and planting support services and guarantees to purchase all the corn once harvested. The corn will be sold to end users based on long-term supply agreements signed with feedstock companies and hog farmers.\nThe corn will be grown in the Sichuan Province allowing Origin to expand geographically and supply the corn to hog farms in that region, thus improving logistics and limiting expensive shipping costs.\n\"I am excited to sign this deal with Sichuan Yingdafeng,\" said Dr. Gengchen Han, Origin Agritech's Chairman. \"Origin anticipates doing more deals like this to dramatically increase the supply of its NEC to catch up with the huge growth in demand.\"\nAbout Origin Agritech Limited\nOrigin 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 @origin_agritech.\nForward-Looking Statements\nThis 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,\" ...