Origin Agritech opens new subsidiary to expand corn production

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• Origin Agritech (NASDAQ:SEED) has established a new subsidiary in Hainan island to expand the capacity of nutrition enhanced corn production.
• Over 50,000 Mu contract growing of feed corn has been initiated for the 2022 growing season and significant growth is expected for next growing season.
• The company is currently in talks with numerous feedstock companies for large orders as well as for partnerships, such as the previously announced collaboration with BaoDao Feed Ltd.
• Dr. Gengchen Han, Origin Agritech's Chairman said, "With our leading position in GMO and gene editing technology, we expect to market more nutrition enhanced corn hybrids in the near future and thus help to increase China's domestic food production."
• Shares up 7% premarket.