DES MOINES, Iowa, August 30, 2017 /PRNewswire/ -- Origin Agritech
Ltd. (Nasdaq: SEED) ("the Company" or "Origin"), an agricultural
biotechnology trait and corn seed provider, today announced that
Mr. Weibin Yan and Dr. James Chen will join the Company's Board of
Directors.
Mr. Weibin Yan, co-founder,
Chairman, and managing director of Ausnutria Dairy Corporation Ltd,
will join Origin's Board of directors as an independent board
member. Mr. Yan's background includes former CEO, CFO and
Vice-Chairman of the Board of Yuan Longping High-tech Agriculture
Co., Ltd; Vice-Chairman and CEO of Hunan XinDaxin Group Company;
and an MBA from Hunan University.
He will act as an independent non-executive director of the
company.
Dr. James Chen, Ph.D., MBA, CFA,
is currently CFO of Zhejiang Jishang Youxuan Dianzi Shangwu, Ltd.,
and Audit Committee Chairman of China Finance Online's Board of
Directors. He served as Origin's CFO from 2012 to 2016. Dr. Chen's
previous professional experience includes CFO of Aoxing
Pharmaceutical, investment manager at the Abu Dhabi Investment
Authority, and senior research positions at Morgan Joseph and
BB&T Capital Markets. He holds an MBA in finance and accounting
from New York University and a Ph.D. in
chemical engineering from the University of
Connecticut.
"On behalf of the Board, I extend a warm welcome to Mr. Yan and
Dr. Chen," said Dr. Gengchen Han, Chairman of the Board of
Directors. "As we focus on a new trait licensing model for the
China market, it's important that
we add greater experience, focus and strength to our Board.Our new
Board members have more than ten years of experience serving on
company boards and positioning publicly traded companies in our
sector for growth and success. We are pleased to have them join us
as we build upon Origin's momentum and continue to maximize
shareholder value."
About Origin Agritech Ltd.
Origin Agritech Limited, founded in 1997 and headquartered in
Zhong-Guan-Cun (ZGC) Life Science Park in Beijing, is China's leading agricultural biotechnology
company, specializing in crop seed breeding and genetic
improvement, seed production, processing, distribution, and related
technical services. Leading the development of 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. Origin operates production centers,
processing centers and breeding stations nationwide with sales
centers located in key crop-planting regions. Product lines are
vertically integrated for corn, rice and canola seeds. For further
information, please visit the Company's website at:
http://www.originseed.com.cn or
http://www.originseed.com.cn/en/.
Forward-Looking Statements
This communication contains "forward-looking statements" within
the meaning of the federal securities laws, including Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. In this context,
forward-looking statements often address expected future business
and financial performance and financial condition, and often
contain words such as "expect," "anticipate," "intend," "plan,"
"believe," "seek," "see," "will," "would," "target," similar
expressions, and variations or negatives of these words.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain, such as statements about the
consummation of the proposed transaction and the anticipated
benefits thereof. Forward-looking statements are not guarantees of
future performance and are based on certain assumptions and
expectations of future events which may not be realized.
Forward-looking statements also involve risks and uncertainties,
many of which are beyond the company's control. Some of the
important factors that could cause the company's actual results to
differ materially from those projected in any such forward-looking
statements are: failure to develop and market new products and
optimally manage product life cycles; ability to respond to market
acceptance for our seed products; rules, regulations and policies
affecting products based on biotechnology; outcome of significant
litigation and environmental matters, including realization of
associated indemnification assets, if any; failure to appropriately
manage process safety and product stewardship issues; changes in
laws and regulations or political conditions; global economic and
capital markets conditions, such as inflation, interest and
currency exchange rates; security threats, such as acts of
sabotage, terrorism or war, natural disasters and weather events
and patterns which could affect products for the agriculture
industry; and ability to protect and enforce the company's
intellectual property rights. The company undertakes no duty to
publicly revise or update any forward-looking statements as a
result of future developments, or new information or otherwise,
should circumstances change, except as otherwise required by
securities and other applicable laws.
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SOURCE Origin Agritech Limited