BEIJING, Feb. 20,
2024 /PRNewswire/ -- Origin Agritech Ltd.
(NASDAQ: SEED) (the "Company" or "Origin"), a leading Chinese
agricultural technology company, today announced that it has
regained compliance with Nasdaq's market value of listed securities
requirement as set forth in Listing Rule 5550(b)(2). Therefore, the
Company is in compliance with the Nasdaq Capital Market's continued
listing requirements. Consequently, the scheduled hearing before
the Hearings Panel has been cancelled. The Company's securities
will continue to be listed and traded on The Nasdaq Stock
Market.
Dr. Gengchen Han, Chairman and CEO of Origin Agritech, stated,
"We are pleased to regain compliance with Nasdaq's listing
standards and to move forward as a Nasdaq-listed company. Looking
ahead, we remain focused on leveraging our strengths in
agricultural technology to capitalize on new opportunities and
deliver value to our shareholders. We are committed to delivering
on our promises, driving significant sales growth, and enhancing
our product offerings to meet the evolving needs of the
agricultural sector."
About Origin Agritech Limited
Origin Agritech Limited, founded in 1997 and headquartered in
Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is a leading 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. Over the
years, Origin has established a robust biotechnology seed pipeline
including products with glyphosate tolerance and pest resistance
(Bt) traits. For further information, please visit the Company's
website at www.originagritech.com. The Company also maintains a
Twitter account for updating investors on company and industry
developments, which is https://x.com/origin_agritech.
Forward-Looking Statements
This communication contains "forward-looking statements" as
defined in the federal securities laws, including Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. Forward-looking
statements address expected future business and financial
performance and financial condition, and contain words like
"expect," "anticipate," "intend," "plan," "believe," "seek,"
"will," "would," "target," and similar expressions and variations.
Forward-looking statements address matters that are uncertain.
Forward-looking statements are not guarantees of future performance
and are based on assumptions and expectations which may not be
realized. They are based on management's current expectations,
assumptions, estimates and projections about the Company and the
industry in which the Company operates but involve a number of
risks and uncertainties, many of which are beyond the company's
control. Some of the important factors that could cause the
company's actual results to differ materially from those discussed
in forward-looking statements are: failure to develop and market
new products and optimally manage product life cycles; ability to
respond to market acceptance, rules, regulations and policies
affecting our products; failure to appropriately manage process
safety and product stewardship issues; changes in laws and
regulations or political conditions; global economic and capital
markets conditions, such as inflation, interest and currency
exchange rates; business or supply disruptions; natural disasters
and weather events and patterns; ability to protect and enforce the
company's intellectual property rights; and separation of
underperforming or non-strategic assets or businesses. The company
undertakes no duty or obligation to publicly revise or update any
forward-looking statements as a result of future developments, or
new information or otherwise, should circumstances change, except
as otherwise required by securities and other applicable laws.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary statements.
For more information, please contact:
Origin Agritech Limited Contact:
Kate Lang (Mandarin/English)
Director of Investor Relations
Phone: +86 186-1839-3368
Email: bing.lang@originseed.com.cn
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
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SOURCE Origin Agritech Limited