BEIJING, CHINA — Origin Agritech Ltd. said it plans for revenues to increase 300%, to more than $23.6 million (150 million RMB), and expects to turn a profit in 2022.
The growth is driven by increases in its existing hybrid seed business and the addition of a new revenue stream of selling nutritionally enhanced crops to feedstock companies.
Origin said it is already sold out of its hybrid seeds for this year’s planting season. It is increasing its production capabilities for the next planting season as it expects this demand trend to continue.
Additionally, Origin expects its partnership with BaoDao Feed Ltd. to provide sizable revenue growth. Its nutritionally enhanced corn varieties are able to eliminate the need for costly additives and are estimated to double the gross margins for the feedstock companies.
Origin is currently in discussions for similar partnerships with other feedstock producers with the goal of creating bespoke crops for each customer, which Origin plans to achieve through its GMO and CRISPR technologies.
Based in Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, Origin Agritech is a Chinese agricultural technology company. 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.