Origin Agritech reports FY24 operating income $2.7M vs. $8.7M last year

Reports FY24 revenue $16.2M vs. $13.0M last year. Mr. Weibin Yan, CEO of Origin Agritech (SEED), commented, “Fiscal year 2024 marked a transformative period for Origin Agritech, with revenue growing to $16.2 million, driven mostly by the performance from our Xinjiang operations. While we saw increased operating expenses as we invested in our future, we achieved several milestone developments, including receiving our GMO safety certificate for BBL2-2 maize and establishing the Origin Marker Biological Breeding Service Consortium for commercialization. Our gene editing breakthroughs, particularly our publication in Nature and our high-yield corn inbred line development, position us well for future growth. With our new leadership team in place and our expanding partnerships across China, we are well-positioned to accelerate the commercialization of our innovative agricultural technologies and deliver long-term value to our shareholders.”