Beijing, China
November 19, 2018
Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), an agriculture technology and rural e-commerce company, today announced that the Company and Balin Youqi Enze Agricultural and Forest Development Co, Ltd (Enze) have entered into a long-term strategic agreement to develop and cultivate 1 million mu (~165,000 acres) of saline-alkaline land in Balin Youqi, Inner Mongolia.
Enze, based in Balin Youqi, Inner Mongolia, has been promoting the prevention and control of desertification and saline-alkali soil. Enze is devoted to the construction of demonstration bases of ecological industry, which are based on scientific and technological research on desertification and saline-alkali soil. Enze has been working with the local government to achieve the objectives of reclaiming and cultivating 1 million mu of desertified and saline-alkaline land in three years. Origin and Enze plan to apply the Integrated Saline-Alkaline Land Reclamation ("ISALR") technology that Origin and Longhan are currently working on and was announced previously.
Longhan and Enze have been working toward the cooperation project for several months and Enze has finally chosen the ISALR technology. With this strategic cooperation, the ISALR team from Origin and Longhan has already started to work with the team from Enze to develop the detailed plans for the first stage of land reclamation project and identified over 100,000 mu (~16,500acres) of the desertified and saline-alkaline land to cultivate in the 2019 season.
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 technology and a rural social e-commerce company, expanding in mid-2018 from crop seed breeding and genetic improvement business to be a leading technology developer in new rural e-commerce platform and Blockchain technologies. 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.
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