BEIJING, Jan. 4, 2018 /PRNewswire/ -- Origin Agritech
Ltd. (NASDAQ: SEED) ("the Company" or "Origin") an agricultural biotechnology trait and corn seed provider, today announced
that it received an installment of the purchase price for the seed and production and distribution business sold to Beijing Shihui Agricultural Development Co. Ltd. ("Shihui").The amount received was RMB18.64 million (approximately US$2.79 million). The Company and Shihui
continue to work together to set the payment schedule for the assets sold at the September 2017
closing and the second closing of the additional assets that Shihui has agreed to purchase.
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 biotechnology company,
specializing in crop seed breeding and genetic improvement. Leading the development of 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. Origin operates breeding stations nationwide
located in key crop-planting regions. Product lines are vertically integrated for corn. 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. 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 also involve 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 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.
Contact:
Xin Zhou
Phone: +86-10-58907556
Email: xin.zhou@originseed.com.cn
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SOURCE Origin Agritech Limited