Origin Agritech (NASDAQ:SEED) Stock, Quote.Headers.trade-ideas

Origin Agritech

Origin Agritech Ltd is a Chinese agricultural technology company. In crop seed biotechnologies, the company's phytase corn was the first transgenic corn to receive the Bio-Safety Certificate from China's Ministry of Agriculture. Origin has established a robust biotechnology seed pipeline including products with glyphosate tolerance and pest resistance (Bt) traits.

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As of March 25, 2024, five stocks in the consumer staples sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Top 5 Defensive Stocks That May Plunge This Quarter

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Shares of  International Flavors &amp; Fragrances Inc. (NYSE: IFF) fell during Wednesday’s session after the company reported mixed fourth-quarter financial results and reduced its expected quarterly dividend approximately 50% to 40 cents per share.

Why International Flavors &amp; Fragrances Shares Are Trading Lower By Around 8%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

General

Why Origin Agritech Shares Are Gaining Today

Origin Agritech Limited - Ordinary Shares

Origin Agritech Ltd

SEED CO LTD by SEED CO LTD.

SEED INNOVATIONS LTD by SEED INNOVATIONS LTD.

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Origin Agritech shares are trading higher after the company appointed a new CEO.

Origin Agritech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEED#NASDAQ">SEED</a>) (the "Company" or "Origin"), a leading Chinese agricultural technology company, is pleased to announce the appointment of Mr. Weibin Yan as the new Chief Executive Officer (CEO) and member of the Board of Directors, effective immediately. Dr. Gengchen Han, who has served as CEO, will continue as Chairman of the Board.
Mr. Yan brings a wealth of experience and leadership to Origin Agritech, with a distinguished career in the agricultural and industrial sectors. He is currently the Vice-Chairman of the Hunan Provincial Federation of Industry and Commerce. Mr. Yan was one of the principal founders of Ausnutria Dairy Corporation Ltd. ("Ausnutria"), a company listed on the Hong Kong Stock Exchange, where he served as Chairman from its establishment until September 2023. Under his leadership, Ausnutria became a leading global player in the dairy industry.

Management

Origin Agritech Appoints Mr. Weibin Yan As CEO; Dr. Gengchen Han To Remain As Chairman Of The Board

Brings Over Three Decades Of Expertise In Corporate Management, Investment, And Financial Control To Drive Financial Strategy And Operational Efficiency

Origin Agritech Appoints Patrick Cheng As CFO And Board Member

<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="6" rowspan="1">Revenue Projections</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Revenue from hybrid seeds and other</td>
<td colspan="1" rowspan="1">Revenue from NEC</td>
<td colspan="1" rowspan="1">Revenue from GMO</td>
<td colspan="1" rowspan="1">Total Revenue(￥'000)</td>
<td colspan="1" rowspan="1">Total Revenue(US$'000)</td>
</tr>
<tr>
<td colspan="1" rowspan="1">2022</td>
<td colspan="1" rowspan="1">&nbsp;￥52,580</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">&nbsp;￥52,580</td>
<td colspan="1" rowspan="1">$7,240</td>
</tr>
<tr>
<td colspan="1" rowspan="1">2023</td>
<td colspan="1" rowspan="1">&nbsp;￥93,307</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">&nbsp;￥93,307</td>
<td colspan="1" rowspan="1">$12,848</td>
</tr>
<tr>
<td colspan="1" rowspan="1">2024 (Expected)</td>
<td colspan="1" rowspan="1">&nbsp;￥95,000</td>
<td colspan="1" rowspan="1">&nbsp;￥10,000</td>
<td colspan="1" rowspan="1">-</td>
<td colspan="1" rowspan="1">&nbsp;￥105,000</td>
<td colspan="1" rowspan="1">$14,458</td>
</tr>
<tr>
<td colspan="1" rowspan="1">2025 (Expected)</td>
<td colspan="1" rowspan="1">&nbsp;￥99,750</td>
<td colspan="1" rowspan="1">&nbsp;￥50,000</td>
<td colspan="1" rowspan="1">&nbsp;￥30,000</td>
<td colspan="1" rowspan="1">&nbsp;￥179,750</td>
<td colspan="1" rowspan="1">$24,751</td>
</tr>
<tr>
<td colspan="1" rowspan="1">2026 (Expected)</td>
<td colspan="1" rowspan="1">&nbsp;￥104,738</td>
<td colspan="1" rowspan="1">&nbsp;￥100,000</td>
<td colspan="1" rowspan="1">&nbsp;￥90,000</td>
<td colspan="1" rowspan="1">&nbsp;￥294,738</td>
<td colspan="1" rowspan="1">$40,585</td>
</tr>
<tr>
<td colspan="1" rowspan="1">2027 (Expected)</td>
<td colspan="1" rowspan="1">&nbsp;￥109,974</td>
<td colspan="1" rowspan="1">&nbsp;￥150,000</td>
<td colspan="1" rowspan="1">&nbsp;￥210,000</td>
<td colspan="1" rowspan="1">&nbsp;￥469,974</td>
<td colspan="1" rowspan="1">$64,715</td>
</tr>
<tr>
<td colspan="1" rowspan="1">2028 (Expected)</td>
<td colspan="1" rowspan="1">&nbsp;￥115,473</td>
<td colspan="1" rowspan="1">&nbsp;￥225,000</td>
<td colspan="1" rowspan="1">&nbsp;￥330,000</td>
<td colspan="1" rowspan="1">&nbsp;￥670,473</td>
<td colspan="1" rowspan="1">$92,324</td>
</tr>
<tr>
<td colspan="1" rowspan="1">2029 (Expected)</td>
<td colspan="1" rowspan="1">&nbsp;￥121,247</td>
<td colspan="1" rowspan="1">&nbsp;￥337,500</td>
<td colspan="1" rowspan="1">&nbsp;￥500,000</td>
<td colspan="1" rowspan="1">&nbsp;￥958,747</td>
<td colspan="1" rowspan="1">$132,019</td>
</tr>
</tbody>
</table>
</figure>

Guidance

Origin Agritech Sees FY24 Revenue $14.5M; Sees FY25 Revenue $24.75M; FY26 Revenue $40.6M; Sees FY27 Revenue $64.72M; Sees FY28 Revenue $92.32M; Sees FY29 Revenue $132M

Origin Agritech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEED#NASDAQ">SEED</a>) (the "Company" or "Origin"), a leading Chinese agricultural technology company, provided a business update from Dr. Gengchen Han, Chairman and CEO of Origin Agritech.

Origin Agritech Chairman And CEO Dr. Gengchen Han Provides Business Updates; Says The Planting Area Of NEC Corn In Xinjiang Has Doubled With A Projected Profit Of $350,000 To $950,000 U.S. Dollars; Origin's Corn Variety Aoyu 728 Has Rapid Sales Momentum. It's Predicted That The Sales Volume Close To $7M U.S. Dollars In Revenue In The 2025 Season

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Shares of consumer staples stocks are trading higher possibly amid sympathy with Walmart after the company reported better-than-expected Q1 financial results.

Earnings

Origin Agritech First Half Of FY2024 Revenue $13M, Net Profit $0.2M

Origin Agritech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEED#NASDAQ">SEED</a>) (the "Company" or "Origin"), a leading Chinese agricultural technology company, today announced the issuance of a GMO safety certificate for its transgenic maize, BBL2-2, marking a significant milestone for the Company and the agricultural sector, heralding a new era in crop innovation.
The newly certified BBL2-2 maize contains two insect-resistant genes, Cry1Ab and Cry3Bb, and one herbicide-tolerance gene, Cp4-epsps. This genetic composition makes the maize resistant to various lepidopteran pests such as corn borer, cotton bollworm, armyworm. BBL2-2 is&nbsp;a product with substantial commercial value and extensive application potential.
The certification of BBL2-2 confirms its adherence to stringent safety standards and paves the way for its commercial launch. The introduction of BBL2-2 is expected to significantly enhance agricultural productivity and sustainability, providing a powerful tool for farmers to manage pests more effectively and reduce the environmental impact of agriculture.
Dr. Gengchen Han, Chairman and CEO of Origin Agritech, commented, "Receiving this GMO safety certificate is a transformative moment for Origin Agritech and agricultural biotechnology in China. BBL2-2 exemplifies our capabilities in genetic innovation and sets a new standard in sustainable agriculture. We are eager to lead the commercialization of this technology, which promises significant improvements in crop resilience and yield."
In addition to its work on BBL2-2, Origin Agritech continues to advance its agricultural technology portfolio with significant progress in gene editing. Recently, the Company developed a high-yield corn inbred line through precise gene editing techniques, which has shown a yield increase of more than 50% over traditional corn in extensive multilocational field trials. The gene-edited event is now in the process of agricultural biosafety assessment. This development is expected to greatly enhance the productivity and cost-effectiveness of corn production, reinforcing Origin's commitment to sustainable and efficient agriculture.

Origin Agritech Receives GMO Safety Certificate For Its Triple Stack Maize; Commercial Rollout To Begin Shortly

As of March 25, 2024, five stocks in the consumer staples sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Lifeway Foods, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lway#NASDAQ">LWAY</a>)</h3>
<ul>
<li>On March 20, Lifeway Foods posted better-than-expected quarterly results. The company&rsquo;s stock gained around 47% over the past five days and has a <a href="https://www.benzinga.com/quote/LWAY">52-week high of $17.33 </a>.</li>
<li>RSI Value: 80.63</li>
<li>LWAY Price Action: Shares of Lifeway Foods closed at $47.02 on Thursday.</li>
</ul>
<h3>BBB Foods Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tbbb#NYSE">TBBB</a>)</h3>
<ul>
<li>On March 12, Scotiabank analyst Hector Maya initiated coverage on BBB Foods with a Sector Outperform rating and announced a price target of $33. The company&rsquo;s stock gained around 9% over the past five days and <a href="https://www.benzinga.com/quote/TBBB"> has a 52-week high </a> of $23.82.</li>
<li>RSI Value: 76.96</li>
<li>TBBB Price Action: Shares of BBB Foods gained 3.3% to close at $23.54 on Friday.</li>
</ul>
<h3>Origin Agritech Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/seed#NASDAQ">SEED</a>)</h3>
<ul>
<li>On March 20, Origin Agritech announced breakthrough in high-yield corn production through gene editing. The company&rsquo;s stock gained around 24% over the past five days and has a <a href="https://www.benzinga.com/quote/SEED"> 52-week high </a> of $7.18.</li>
<li>RSI Value: 70.38</li>
<li>SEED Price Action: Shares of Origin Agritech gained 3.4% to close at $3.62 on Friday.</li>
</ul>
<h3>WK Kellogg Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/klg#NYSE">KLG</a>)</h3>
<ul>
<li>On Feb. 13, WK Kellog reported better-than-expected fourth-quarter revenue results and issued FY24 guidance. The company&rsquo;s stock jumped around 10% over the past five days and has a 52-week high is $18.59.</li>
<li>RSI Value: 86.62</li>
<li>KLG Price Action: Shares of WK Kellogg gained 2.9% to close at $18.59 on Friday.</li>
</ul>
<h3>Tyson Foods, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tsn#NYSE">TSN</a>)</h3>
<ul>
<li>On March 14, Cal-Maine Foods completed acquisition of assets from Tyson Foods, Inc. The company&rsquo;s stock jumped around 4% over the past five days and <a href="https://www.benzinga.com/quote/TSN"> has a 52-week high </a> of $63.28.</li>
<li>RSI Value: 71.79</li>
<li>TSN Price Action: Shares of Tyson Foods fell 0.1% to close at $58.05 on Friday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37889794/vista-gold-and-2-other-stocks-under-2-insiders-are-buying"> Vista Gold And 2 Other Stocks Under $2 Insiders Are Buying </a>

Inbred Line Yield Increased Over 50% in Trials

Biotech

Origin Agritech Announces Breakthrough In High-Yield Corn Production Through Gene Editing

Origin Agritech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEED#NASDAQ">SEED</a>) (the "Company" or "Origin"), a leading Chinese agricultural technology company, today announced a breakthrough development in its commercial corn hybrid offerings. Origin Agritech has successfully integrated a gene from wild corn into one of its elite commercial corn hybrids for the first time in the industry. This approach represents a significant scientific milestone and sets a new benchmark for crop yield performance and efficiency.
The integration of the wild corn gene marks the world's first instance of using genetics from wild corn—a type of grass—to enhance the performance of commercial corn hybrids. This innovative genetic modification has improved plant type and photosynthesis efficiency, enabling the hybrid to achieve higher yields by supporting increased plant density per acre.
One of Origin Agritech's mainstay commercial hybrids, which has been a market leader for over 20 years due to its superior performance, has been the focus of this enhancement. The improved version of this hybrid can now be planted at a 10-15% higher density, offering a potential yield increase of more than 10%. This advancement is expected to drive the new hybrid to replace the current version within two years, further solidifying Origin Agritech's market share and leadership in the agricultural sector.
Dr. Gengchen Han, Chairman and CEO of Origin Agritech, stated, "This breakthrough is a testament to Origin Agritech's commitment to innovation and our continuous efforts to push the boundaries of agricultural technology. By harnessing the untapped potential of wild corn genes, we have significantly improved our hybrid's performance, setting a new standard for efficiency and yield in the industry. We anticipate the enhanced hybrid will replace its predecessor and capture more market share thanks to its superior performance and adaptability. This is a proud moment for our team and a major step forward in our mission to provide sustainable and high-performing agricultural solutions to the world."
Origin Agritech is dedicated to leveraging cutting-edge biotechnological research to develop crops with higher yields, improved nutritional profiles, and better adaptability to environmental challenges. This latest innovation underscores the company's role as a leader in the global agritech industry and its commitment to enhancing food security and farming efficiency worldwide.

Origin Agritech Announces Breakthrough In Corn Hybrid Development With Wild Corn Gene Integration

Origin Agritech shares are trading higher after the company highlighted 77.5% revenue growth for FY23.

Shares of International Flavors &amp; Fragrances Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/iff#NYSE">IFF</a>) fell during Wednesday&rsquo;s session after the company reported mixed fourth-quarter financial results and reduced its expected quarterly dividend approximately 50% to 40 cents per share.
International Flavors &amp; Fragrances shares dipped 8.4% to $75.11 on Wednesday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Greenbrook TMS Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gbnh#NASDAQ">GBNH</a>) climbed 120.8% to $0.4351. Greenbrook TMS raised $2.5 million in debt financing.</li>
<li>Emergent BioSolutions Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ebs#NYSE">EBS</a>) gained 84% to $2.8050. Emergent BioSolutions appointed Joseph Papa as President and CEO, effective Feb. 21, 2024.</li>
<li>Ventyx Biosciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vtyx#NASDAQ">VTYX</a>) gained 77.2% to $5.30. Traders circulated unconfirmed analyst comments suggesting co might be the next big weight loss drug citing a new publication showing NLRP3 has significant weight loss similar to GLP-1.</li>
<li>Sound Group Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sogp#NASDAQ">SOGP</a>) shares rose 63.1% to $4.60. Sound Group announced the launch of new AI-powered applications.</li>
<li>Motus GI Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mots#NASDAQ">MOTS</a>) shares rose 59.4% to $1.04 after the company was granted U.S. Patent #11904085 for &#39;Systems And Methods For Cleaning A Colon.&#39;</li>
<li>Origin Agritech Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/seed#NASDAQ">SEED</a>) gained 34% to $3.11. Origin Agritech increased revenue by 77% year-over-year for the fiscal year ended Sep. 30, 2023.</li>
<li>Gentherm Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/thrm#NASDAQ">THRM</a>) shares jumped 24.7% to $61.48 after the company reported better-than-expected fourth-quarter financial results and issued guidance.</li>
<li>RAPT Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rapt#NASDAQ">RAPT</a>) gained 24% to $8.52.</li>
<li>Energy Focus, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/efoi#NASDAQ">EFOI</a>) shares jumped 23.4% to $1.7050.</li>
<li>MediaAlpha, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/max#NYSE">MAX</a>) rose 19% to $18.80 after the company reported better-than-expected fourth-quarter financial results.</li>
<li>Janux Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/janx#NASDAQ">JANX</a>) gained 18% to $11.75. Janux Therapeutics will host virtual event on Feb. 26th, 2024, at 4:30PM ET to discuss updated clinical data for PSMA-TRACTr JANX007 and EGFR-TRACTr JANX008.</li>
<li>Iovance Biotherapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iova#NASDAQ">IOVA</a>) rose 15.9% to $13.95.</li>
<li>TPG RE Finance Trust, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trtx#NYSE">TRTX</a>) jumped 12.9% to $6.24 after the company reported fourth-quarter financial results.</li>
<li>Garmin Ltd.(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/grmn#NYSE">GRMN</a>) rose 12.2% to $137.72 after the company reported fourth-quarter financial results and issued FY24 revenue guidance above estimates, recommended boosting annual dividend and authorized share buyback.</li>
<li>Select Water Solutions, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wttr#NYSE">WTTR</a>) gained 11.7% to $8.77 following strong earnings.</li>
<li>The Hackett Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hckt#NASDAQ">HCKT</a>) surged 11.2% to $25.48 following upbeat results.</li>
<li>LivaNova PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/livn#NASDAQ">LIVN</a>) jumped 8.8% to $57.28 following upbeat earnings.</li>
<li>EQT Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eqt#NYSE">EQT</a>) gained 8.8% to $36.69.</li>
<li>Wix.com Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wix#NASDAQ">WIX</a>) gained 8.6% to $136.15 following fourth-quarter results.</li>
<li>Bausch + Lomb Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/blco#NYSE">BLCO</a>) gained 8.6% to $15.84 after reporting quarterly results.</li>
<li>Wix.com Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wix#NASDAQ">WIX</a>) gained 8.2% to $135.56 following fourth-quarter results.</li>
<li>NeoGenomics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/neo#NASDAQ">NEO</a>) rose 7.4% to $15.78 after the company reported better-than-expected fourth-quarter financial results and issued FY24 adjusted EPS guidance above estimates.</li>
<li>Toll Brothers, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tol#NYSE">TOL</a>) gained 6.6% to $110.42 after the company reported better-than-expected first-quarter financial results and issued FY24 EPS guidance above estimates.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>AtlasClear Holdings, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/atch#NYSE">ATCH</a>) shares tumbled 41% to $1.19.</li>
<li>Shineco, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sisi#NASDAQ">SISI</a>) dipped 33.4% to $1.53 after gaining around 56% on Tuesday.</li>
<li>Synchronoss Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sncr#NASDAQ">SNCR</a>) fell 32.2% to $8.30.</li>
<li>U Power Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ucar#NASDAQ">UCAR</a>) dipped 30% to $0.0710 after the company received a delisting notice from the Nasdaq Stock Market due to its ordinary shares&rsquo; closing bid price falling below $0.10 for ten consecutive trading days, as per the Low Priced Stocks Rule.</li>
<li>MoneyHero Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mny#NASDAQ">MNY</a>) fell 28% to $2.2259.</li>
<li>Community Health Systems, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cyh#NYSE">CYH</a>) fell 27.3% to $2.9350 after the company reported fourth-quarter financial results.</li>
<li>Palo Alto Networks, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/panw#NASDAQ">PANW</a>) shares dipped 26.2% to $270.29 after the company issued third-quarter guidance below estimates.</li>
<li>Teladoc Health, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tdoc#NYSE">TDOC</a>) shares fell 25.3% to $15.31 after the company reported mixed fourth-quarter financial results and issued weak guidance.</li>
<li>Unisys Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uis#NYSE">UIS</a>) fell 24.5% to $5.88 after the company reported quarterly financial results.</li>
<li>Pop Culture Group Co., Ltd (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cpop#NASDAQ">CPOP</a>) fell 21.3% to $5.66 after jumping 171% on Tuesday.</li>
<li>Amplitude, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ampl#NASDAQ">AMPL</a>) fell 16.6% to $11.73 after the company reported mixed fourth-quarter financial results and issued weak guidance.</li>
<li>SolarEdge Technologies, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sedg#NASDAQ">SEDG</a>) shares fell 15.7% to $71.20 after the company reported mixed fourth-quarter financial results.</li>
<li>Matterport, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mttr#NASDAQ">MTTR</a>) shares fell 15.4% to $2.1450 after the company posted weak quarterly sales and issued downbeat forecast.</li>
<li>Zscaler, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zs#NASDAQ">ZS</a>) fell 14.8% to $212.15.</li>
<li>Medifast, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/med#NYSE">MED</a>) declined 14.3% to $41.95 after the company issued weak guidance.</li>
<li>Avinger, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/avgr#NASDAQ">AVGR</a>) shares fell 14.3% to $4.57 after surging 83% on Tuesday.</li>
<li>Photronics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/plab#NASDAQ">PLAB</a>) fell 13% to $27.17 after the company reported first-quarter financial results below estimates.</li>
<li>Workiva Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wk#NYSE">WK</a>) fell 12.3% to $82.55 following quarterly results.</li>
<li>Fisker Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fsr#NYSE">FSR</a>) fell 11.4% to $0.5582.</li>
<li>Biofrontera Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bfri#NASDAQ">BFRI</a>) shares fell 6.1% to $1.0794. Biofrontera shares jumped 53% on Tuesday after the company announced a private placement of up to $16 million priced at the market per Nasdaq rules.</li>
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SEED: 129% &#x7C;&nbsp;<a href="https://www.benzinga.com//node/37232594">Origin Agritech Grows Revenue by 77% Year-Over-Year, Records Net Income of $8.7 Million</a>
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Market-Moving News for February 21st

Origin Agritech Says It Has Submitted An Appeal To Nasdaq's Listing Qualifications Department To Request A Further Extension Of Time And Present Its Plan To Regain Compliance With Nasdaq Listing

Accordingly, its ordinary shares will be delisted from The Nasdaq Capital Market. The date of delisting will be January&nbsp;22, 2024, unless the Company requests an appeal of the delisting determination, by 4:00 pm, EST, on January&nbsp;18, 2024,

Origin Agritech Says On January 11, 2024, Nasdaq Notified That It Continued To Be In Non-Compliance With Minimum Market Value Of Listed Securities Requirements - Filing

Preannounces Approximately 70% Increase in Revenues for Fiscal Year 2023
BEIJING, Nov. 21, 2023 /PRNewswire/ -- Origin&nbsp;Agritech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEED#NASDAQ">SEED</a>) (the "Company" or "Origin"), a leading Chinese agricultural technology company, provided investors with a business update and provided preliminary financial results for fiscal year 2023.
Preannounced Financial Results
<ul>
<li>The Company expects fiscal year 2023 revenue to be between $12 to $13 million, representing an increase of 60% to 70% from fiscal year 2022 revenue of $7.4 million.</li>
<li>The Company expects fiscal year 2023 net income to be between $16 to $17 million, which includes a one-time gain from the sale of a former office building of $19 million.</li>
<li>The Company expects fiscal year 2023 operating profit of approximately $2 million.</li>
</ul>
Dr. Gengchen Han, Chairman and CEO of Origin Agritech, commented, "I would like to provide an overview of Origin Agritech's recent accomplishments and our ambitious plans for the future. As we navigate the dynamic landscape of agricultural biotechnology, we remain steadfast in our commitment to revolutionizing the industry and addressing the world's growing food security challenges. The past year has been marked by a series of significant milestones for Origin Agritech. We have made remarkable progress in advancing our innovative technologies, expanding our market reach, and solidifying our position as a leading player in the agricultural biotechnology sector."
"Earlier this year, our triple-stack trait corn, featuring BFL4-2, was selected for inclusion in the national demo plot. This recognition underscores the exceptional quality and potential of our corn varieties. I am confident that our GMO corn hybrids will be approved in 2024. As a reminder, we are one of just four companies with access to this new China GMO market that has just begun to materialize and that we anticipate will grow substantially in the coming years. Our team has diligently conducted pilot seed production, laying the groundwork for full-scale commercialization."
"Our majority-owned joint venture in Shihezi, Xinjiang, secured 200,000 mu of farmland for growing nutrition-enhanced corn (NEC). We are also near completion of our state-of-the-art 100,000-ton corn drying base in Shihezi, Xinjiang. This facility will play a pivotal role in enhancing the efficiency and resilience of our supply chain while expanding our production capacity, enabling us to meet the growing demand, and ensuring the timely delivery of high-quality NEC corn to our customers. Our large-scale pilot production of nutrition-enhanced corn harvested in September and October 2023 has set the stage for revenue recognition of approximately RMB 50 to 100 million in fiscal year 2024, or $7 to $14 million U.S. dollars. We have produced enough NEC seed for next year's planting and expansion plans. Our NEC corn features are groundbreaking: 8.4% oil content, which is double that of normal corn, 0.31% lysine, a 50% increase, and 102 IU/KG of Vitamin E, significantly higher than average."
"Our team has developed a novel gene editing method that significantly reduces the backcross procedure from 4-5 years to just one year. This breakthrough enables us to convert edited traits into elite commercial lines rapidly. We have also developed nitrogen-efficient corn through gene editing and are conducting extensive testing to validate this trait. We have also established a comprehensive gene editing breeding system encompassing seven traits, including drought resistance, nitrogen efficiency, and plant type. This system allows us to convert any commercial line into an edited line within one year."
Highlights of Questions Submitted from Investors:
<ul>
<li>Where are GH5112E-117C and G1105E-823 in the approval process?&nbsp;We are cooperating with a local research institute to continue the experiments.</li>
<li>How is&nbsp;Zhong Huang 6106 and AOYU 728 progressing?&nbsp;AOYU 728 has performed excellently in the last two years and has become a major competitive product. We expect significant sales growth in the next few years. Zhong Huang 6106 has also performed well and has become our main soybean variety in the Jiangsu area.</li>
<li>Can you discuss your advancements with nitrogen-enhanced corn? Why is it a huge advantage, and how can we benefit? Nitrogen efficiency corn is a breakthrough in this area. We have worked on this trait since 2004 through GMO methods. We finally made significant progress in 2022. The major advantage of nitrogen-efficient corn is that it increases the corn yield with less nitrogen usage. It will reduce the farms' production costs and environmental nitrogen pollution. Our preliminary result shows a more than 50% yield increase for the inbred line under the same nitrogen usage in the field.</li>
<li>Can you discuss the approval process for planting all across China? What regions are our crops primarily being planted in? How far along are our competitors?&nbsp;There are four major corn planting areas in China. Northeast and Huanghai are the two main corn-growing areas we focus on.</li>
<li>Can you provide an update on the&nbsp;Muyuan Foods agreement?&nbsp;Muyuan has tested our NEC hybrids in more than 15 locations in 2023. Potential collaborations are currently under discussion.</li>
<li>What is the status of approval of variety application of BFL4-2&nbsp;GMO seeds? Have these seeds been selected for use in the national pilot crop growing program next year? We expect approval to happen in 2024; our hybrids with BFL4-2 are in the national demo plots.</li>
<li>How many acres of&nbsp;NEC corn will be grown in the next year?&nbsp;We will have confirmed figures in the March/April planting season.</li>
<li>What is the status of approving the safety certificate application of drought-resistant&nbsp;GMO seed?&nbsp;We have finished the field test and applied for safety certificate approval.</li>
<li>Could you explain how the&nbsp;NEC corn performed regarding nutritional content and overall yield? NEC yielded comparable yields to its normal corn varieties in more than 50 locations and three years of testing. Oil content is over 8% compared to 3.5-3.8% normal corn, 0.31% lysine, a 50% increase, and 102&nbsp;IU/KG of Vitamin E, significantly higher than average.</li>
<li>Are you confident in your original assessment of increasing&nbsp;NEC corn land in Xingjiang province from the 30,000 Mu planted this year to 200,000 Mu? Yes, we are very confident that we can achieve this.</li>
<li>Does the company intend to expand the&nbsp;NEC contract or joint venture, growing to further provinces before the 2024 planting season?&nbsp;Yes, we intend to expand to further provinces before the 2024 planting season.</li>
<li>Does the company plan to formally change its fiscal year to align with harvest season? We are discussing the possibility with our auditors and legal counsel and will have further updates when something more definitive is ready to announce.</li>
</ul>
"Looking ahead, I am very optimistic and excited about the future of Origin Agritech. We have made remarkable strides in advancing our groundbreaking agricultural technologies in the past year. Our achievements in gene editing and the development of our nutrition-enhanced corn are testaments to the dedication and expertise of our team. The recognition of our triple-stack trait corn and the successful pilot production of our nutrition-enhanced corn are just the beginning of what promises to be a transformative journey for Origin Agritech. As we look to the future, our focus remains to revolutionize agricultural biotechnology and contribute meaningfully to global food security. The potential approval of our GMO corn hybrids in 2024, our advancements in gene editing, and the expansion of our production capabilities are pivotal steps in this direction."
"I am not satisfied with our stock price and believe that the market is severely discounting our company's upside potential. We are taking steps to ensure that we achieve a fair and realistic market valuation, and we look forward to conveying new developments and delivering value to our shareholders," concluded Dr. Han.

Origin Agritech Provides Business Updates And Answers Questions From Investors; Sees FY23 Revenue $12M-$13M; FY23 Net Income $16M-$17M; FY23 Operating Profit Of ~$2M

Origin Agritech in Non- Compliance with NASDAQ Market Value of Listed Securities
&nbsp;
On July 10, 2023, Origin Agritech Ltd. (the "Company") received a letter from the NASDAQ Stock Market ("NASDAQ") notifying the Company that it currently did not meet the minimum market value of listed securities requirements of having a market value of listed securities equal to or greater than $35 million (based upon the total ordinary shares outstanding multiplied by the closing bid price). Therefore, the Company was not in compliance with the continued listing rules of NASDAQ set forth in NASDAQ Listing Rules either 5550(b)(2). The non-compliance period was from May 24, through July 7, 2023.
According to the letter, the Company has until January 8, 2024 to achieve compliance with the market value requirement for continued listing. In the event the Company does not regain compliance with the rule prior to the expiration of the compliance period, it will receive additional written notification that its securities will be subject to delisting. At that time, the Company may appeal the delisting determination to a hearing panel.
If at any time prior to January 8, 2024, the market value of the listed securities equals $35 million or more for a minimum of ten consecutive business days, the Company will regain compliance with the particular continued listing requirement.
 &nbsp;

Origin Agritech In Non-Compliance With Nasdaq Market Value Of Listed Securities; Company Has Until January 8, 2024 To Achieve Compliance With The Market Value Requirement For Continued Listing

Origin Agritech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEED#NASDAQ">SEED</a>)&nbsp;(the &quot;Company&quot; or &quot;Origin&quot;), an agriculture technology company, today announced the successful completion of an agreement with Beijing Changping Technology Innodevelop Group (BC-TID). This strategic agreement converts approximately&nbsp;RMB 137.7 million&nbsp;in debt (about&nbsp;US$19 million) into equity in a joint venture. Importantly, this transaction neither involves any aspects of our seed business and technology nor results in the issuance of any new shares of Origin Agritech Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEED#NASDAQ">SEED</a>).

Asset Sales

Origin Agritech to Sell Former Office Space, Converts $19M Debt into Joint Venture Equity

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Press Releases

Growing More with Less: IMF Highlights Efficiency in Agriculture with Agritech Advances

Precision Farming and Biotech Innovations Drive Agricultural Growth and Global Food Security

Origin Agritech Announces Revolutionary Gene Editing Breakthrough, Featured in Top Science Journal Nature

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Origin Agritech Chairman and CEO Dr. Gengchen Han Provides Business Updates and Answers Questions from Investors

Origin Agritech Announces Long-Term Revenue Projections Across Key Product Lines Through 2029

Origin Agritech Appoints Li Yang as Chief Operating Officer and Board Director

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Origin Agritech Appoints Mr. Weibin Yan as Chief Executive Officer and Member of the Board of Directors; Dr. Gengchen Han to Remain as Chairman of the Board

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