During the corresponding time, Origin Agritech Limited saw a revenue deteriorated by -20.59 % year on year, While revenue at the Origin Agritech Limited's corporate clients
Origin Agritech Limited's Comment on Sales, Marketing and Customers
The company operates in the Chinese seed market, competing primarily with local seed companies affiliated with county governments that generally lack scale, proprietary hybrids, research and development, marketing, and customer service capabilities. Local competitors with biosafety certificates for corn traits include Beijing DaBeiNong Biotechnology Co. Ltd., Yuan Long Ping High-Tech Agriculture Co., Ltd., and Hangzhou Ruifeng Biotechnology Limited. The company has an agreement with Beijing DaBeiNong Biotechnology Co. Ltd. to combine traits for an enhanced genetically modified (GM) corn product. It also competes with multinational corporations such as Pioneer (DuPont), Monsanto, and Syngenta, which possess strong financial resources, high-quality seed products, and advanced biotechnological capabilities. These multinationals are investing in research and joint ventures in China and rely heavily on GM seed products in markets outside the People's Republic of China (PRC). GM seed products have only recently begun to gain acceptance in China as of 2023, with five corn traits approved, including phytase corn and Bt rice. The future acceptance of GM products in China remains uncertain but is expected to increase, potentially intensifying competition from large biotechnology companies.
Origin Agritech Limited’s Comment on Sales, Marketing and Customers
The company operates in the Chinese seed market, competing primarily with local seed companies affiliated with county governments that generally lack scale, proprietary hybrids, research and development, marketing, and customer service capabilities. Local competitors with biosafety certificates for corn traits include Beijing DaBeiNong Biotechnology Co. Ltd., Yuan Long Ping High-Tech Agriculture Co., Ltd., and Hangzhou Ruifeng Biotechnology Limited. The company has an agreement with Beijing DaBeiNong Biotechnology Co. Ltd. to combine traits for an enhanced genetically modified (GM) corn product. It also competes with multinational corporations such as Pioneer (DuPont), Monsanto, and Syngenta, which possess strong financial resources, high-quality seed products, and advanced biotechnological capabilities. These multinationals are investing in research and joint ventures in China and rely heavily on GM seed products in markets outside the People's Republic of China (PRC). GM seed products have only recently begun to gain acceptance in China as of 2023, with five corn traits approved, including phytase corn and Bt rice. The future acceptance of GM products in China remains uncertain but is expected to increase, potentially intensifying competition from large biotechnology companies.
Sources:
Origin Agritech Limited’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
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