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.

Global Forest Services, Inc.

Industry: Forestry, Business Services

Main business locations: Worldwide

Registered Office:
Palm Grove House,
PO Box 438
Road Town, Tortola,
BVI

Incorporation year: 2004

About the BVI company:

The Global Forest Services Group (GFS) is an independent organization providing market oriented solutions for improving forest management and the sustainability of forest-based industries, as well as verifying systems to trace raw material and wood products through the supply chain within programmes.

GFS was established in 2004 by one of the most experienced teams of forest and timber industry auditors in SE Asia. The basic staff of GFS is comprised of 4 members, all of them with over 6 years of forest auditing experience. GFS also works in close association with a number of other companies and institutions.

GFS has worked with more than 50 private sector clients, MTCC, the Forest Department of Malaysia, WWF (World Wide Fund for Nature), TNC (The Nature Conservancy), CIFOR (The Centre for International Forest Research) AFP (The Asian Forest Partnership), and the UNDP.

Currently the Global Forest Services Group consists of GFS Inc and GFS (Malaysia) Sdn. Bhd and GFS Thailand Pte Ltd. The company also has plans for affiliate companies in Indonesia, China, Guyana and Brazil.

GFS's purpose is work with all sections of the supply chain, including forest managers, processors, manufacturers, and retailers. The Group provides technical assistance to members of the forest and timber industry, through full forest and chain of custody certification through FSC or MTCC, or through the WWF Global Forest and Trade Network system. GFS also provides client specific programmes to address particular market needs for an individual consignment or for a given customer.

GFS recent initiatives included: reduction of impact logging, providing timber for tsunami reconstruction, work through the supply chain, regional policies to tackle illegal logging.