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 second quarter ended March 31, 2010. These results reflect the Company’s financial statements during the period from January 1, 2010 to March 31, 2010. Origin prepares its financial statements in accordance with generally accepted accounting principles (GAAP) of the United States. “We believe our business model has significant operating leverage," said Liang Yuan, Origin President and Chief Executive Officer. "As you can see from our financial results last year, our revenues were up modestly, which caused our gross profit to almost double in FY09. As our cost of revenues and operating expenses remained relatively stable, we believe our new products, including genetically modified seeds and pesticides can further accentuate this leverage." REGULAR EARNINGS SCHEDULE Origin Agritech seeks to schedule release quarter earnings in the 45-day period following the quarter-end. This regular earnings release will be followed by a conference call open to all qualified investors. The year-end earnings release is set for the first week after the 90-day period following fiscal year-end, to be also followed by a conference call. FISCAL 2010 GUIDANCE Based on its current outlook, and existing and anticipated business conditions, Origin reiterates the revenue guidance for FY 2010 in the range of RMB 630 million to RMB 660 million. CONFERENCE CALL INFORMATION The Company will host a teleconference on May 11, 2010, at 8:00 a.m. EDT /8:00 p.m. Beijing time to discuss the quarter end results. To participate in the call, please dial +1-877-407-9210 in North America, or +1-201-689-8049 internationally, approximately 15 minutes prior to the scheduled start time. 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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