Origin Agritech Limited (NASDAQ: SEED) (“Origin” or the “Company”), a vertically–integrated supplier of hybrid crop seeds in China, will announce unaudited financial results for the first quarter ended December 31, 2009. These results reflect the Company’s financial statements during the period from October 1, 2009 to December 31, 2009. Origin prepares its financial statements in accordance with generally accepted accounting principles (GAAP) of the United States. "While continuing to improve our overall efficiency, including our gross and operating margin, we remain extremely focused on investing in our future growth" said Irving Kau, Origin acting Chief Financial Officer. "Our steady focus on executing and expanding our strategy for domestic and international markets and developing our agricultural service platform is unchanged." “We remain acutely confident in the strength of our market opportunity, our positive results, our company, and our long term solutions," said Liang Yuan, Origin President and Chief Executive Officer. "We had another good quarter, as we continue to press on toward the completion of more advanced technologies and adding to our product offerings to drive improved performance going forward." A question and answer list regarding the first quarter results will be available on the company's website at www.originagritech.com in conjunction with the quarter one earnings press release. Origin Agritech management will be available for comment for investors after the earnings press release to further discuss the company's earnings results and improved FY2009 season outlook. Based on preliminary financial data, the company expects annual revenue for the FY10 to range from RMB 630 million to RMB 660 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 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 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 of which Origin possesses exclusive rights. For further information, please log on www.originagritech.com. Forward Looking Statement This release contains forward-looking statements. All forward-looking statements included in this release are based on information available to us on the date hereof. These statements involve known and unknown risks, uncertainties and other factors, which may cause our actual results to differ materially from those implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "targets," "goals," "projects," "continue," or variations of such words, similar expressions, or the negative of these terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. Neither we nor any other person can assume responsibility for the accuracy and completeness of forward-looking statements. Important factors that may cause actual results to differ from expectations include, but are not limited to, those risk factors discussed in Origin's filings with the SEC including its annual report on Form 20-F to be filed. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
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