Origin Agritech Limited

Industry: Agriculture

Main business locations: China

Registered address:
Kingston Chambers
P.O. Box 173
Road Town
Tortola
British Virgin Islands

Incorporation date: February 10, 2005

Listed on: NASDAQ
Ticker: SEED

Financial highlights (2006 9m):
Total assets: USD 124,508,000
Total shareholders’ equity: USD 58,018,000
Net revenues: USD 66,169,000
Gross profit: USD 20,774,000
Total operating expenses: USD 13,652,000
Income before income taxes: USD 9,589,000
Net income: USD 9,658,000
Net income per share: USD 0.41

Main shareholders:

• Sinodream Limited (BVI registered personal holding company of CEO Gengchen Han) 14.2%
• Bonasmart Limited (BVI registered personal holding company of Director Liang Yuan) 8.3%
• Leekdon Limited (BVI registered personal holding company of President Yasheng Yang) 14.2%

BVI registered subsidiaries:
State Harvest Holdings Limited (Investment holding company incorporated in the British Virgin Islands on October 6, 2004)

About the BVI company:
Origin Agritech Limited is incorporated in the British Virgin Islands and headquartered in Beijing, China. It is an agricultural biotechnology company working in seed industry and specializing in research, development, production, sale and distribution of agricultural crop seeds, - hybrid corn, rice, cotton and canola. By 2006, the company introduced to the market sixteen new proprietary seeds, developed internally.

Origin Agritech conducts business operations mainly through its private companies Beijing Origin Seed Technology Inc., Changchun Origin Seed Technology Development Ltd., Henan Origin Cotton Technology development Ltd., Zhengcheng Rice Seed Ltd., Changrong seed Ltd., and Beijing Origin State harvest Biotechnology Ltd.