Origin Agritech Finalized Agreement to Sell Former Office Space, Converts RMB137.7 Million Debt into Joint Venture Equity

BEIJING, Sept. 6, 2023 /PRNewswire/ -- Origin Agritech Ltd. (NASDAQ: SEED) (the "Company" or "Origin"), 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 RMB 137.7 million in debt (about 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: SEED).