Origin Agritech Limited (NASDAQ:SEED) (“Origin” or the “Company”), a technology-focused supplier of crop seeds and agricultural products in China today provided an update on its management team.
Mr. Irving Kau, Acting Chief Financial Officer (CFO), has decided to join Global Hunter Securities LLC. The Company is in the process of selecting a suitable candidate to serve as CFO. Irving will remain as the Interim CFO during the transition period.
Mr. Kau joined Origin in 2005 and was later promoted to Acting CFO in 2009. He has also spearheaded the international licensing program for domestic technology and led the due diligence process for cross-border merger and acquisition (M&A) transactions. Irving played a critical role in capital raises with strategic investors, which enabled Origin’s subsequent expansion.
“Irving has provided significant contributions to Origin’s success over the past six years and we wish him all the best in his new position,” said Dr. Gengchen Han, Chairman of Origin. “We are also very excited about the potential CFO candidates. As the premium brand and an emerging leader in the genetically modified organism (GMO) Chinese seed market, we remain fully committed to the highest-quality seed and agricultural products. As a US listed company, we remain committed to the highest levels of transparency and corporate governance.”Mr. Irving Kau commented, “I am very proud to have participated in the growth of Origin where we are developing unique genetically modified crop seed technologies and supporting China’s roadmap to achieve a higher quality, long-term food supply. After almost six years of valuable corporate management experience, I look forward to bringing my experience to help more companies in China by returning to my industry roots.” Origin reiterated its revenue guidance for FY 2011 in the range of RMB 600 million to RMB 650 million. About Origin Founded in 1997 and headquartered in Beijing, Origin Agritech Limited (NASDAQ GS: SEED) is China’s leading, vertically integrated agricultural biotechnology company specializing in research, development and production to supply food to the growing populations of China. Origin develops, grows, processes, and markets high-quality, hybrid crop seeds to farmers throughout China and parts of Southeast Asia via a network of approximately 3,800 first-level distributors and 65,000 second-level distributors and retailers, and it possesses a pipeline of genetically modified seed products including glyphosate resistant corn and Bt Corn. The first genetically modified corn seed product for China, Phytase Corn, was approved in November 2009 for which Origin possesses exclusive rights. For further information, please log on to www.originagritech.com. About Global Hunter Securities LLC Global Hunter Securities is a full-service investment bank focusing on the Energy, China, Healthcare and Metals & Mining sectors. Global Hunter provides insightful research, innovative capital raising and financial advisory services supported by sales and trading staff with worldwide reach. In 2010, Global Hunter completed 33 transactions, totaling approximately $4.7 billion in aggregate value.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV