BEIJING, Oct. 11, 2018 /PRNewswire/ -- Origin Agritech Ltd. (SEED), ("the Company" or "Origin") an agriculture technology and rural e-commerce company, today announced the establishment of two new joint ventures: Anhui Aoyu Zhongye Technology Ltd. (Anhui Aoyu) in Anhui province and Xuzhou Aoyu Agricultural Technology Ltd. (Xuzhou Aoyu) in Jiangsu province. Origin holds 50% of equity in Anhui Aoyu and 51% of equity in Xuzhou Aoyu. Five agricultural product distributors are the investing partners in each of these two JVs.
The establishment of these two joint ventures, along with the Hubei Aoyu Agricultural Technology Limited (Hubei Aoyu) announced previously are the cornerstone of the Origin e-Commune Network, which is based on the e-commerce technologies and Origin's strong brand equity across rural China. The successful development of these three joint ventures demonstrated the acceptance of the major distributors toward revolutionary e-commune network philosophy in providing integrated and customized technology solution to the farmers across China.
About Origin Agritech Limited
Origin Agritech Limited, founded in 1997 and headquartered in Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is China'sleading agricultural technology and a rural social e-commerce company, expanding in mid-2018 from crop seed breeding and genetic improvement business to be a leading technology developer in new rural e-commerce platform and Blockchain technologies. 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: http://www.originseed.com.cn or http://www.originseed.com.cn/en/.
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