NASDAQ : SEED
Origin Agritech Limited — Financial statements
Materials · Agricultural Inputs · China
Last price 0.7744 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 9.23M
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Financial statements
Origin Agritech Limited (SEED) reported revenue of 68.18M CNY (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year October - September; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 68.18M | 91.29M | 113.38M | 93.31M | 52.58M | 46.42M |
| Cost of Revenue | 64.39M | 84.90M | 97.31M | 76.06M | 36.39M | 33.61M |
| Gross Profit | 3.80M | 6.39M | 16.07M | 17.25M | 16.19M | 12.81M |
| Selling, General & Admin | 32.19M | 47.16M | 42.27M | 22.59M | 21.66M | 78.88M |
| Research & Development | 13.62M | 13.04M | 10.13M | 7.45M | 7.43M | 1.98M |
| Operating Expenses | 45.81M | 60.20M | 52.39M | 30.03M | 29.09M | 80.86M |
| Operating Income | -42.01M | -53.80M | -36.32M | -12.79M | -12.90M | -68.04M |
| Interest Expense | -3.90M | -2.74M | -1.51M | -982.00K | -8.23M | -8.56M |
| Other Non Operating Income (Expenses) | 2.03M | 2.27M | 57.05M | 10.77M | 26.34M | 25.53M |
| EBT Excluding Unusual Items | -43.88M | -54.27M | 19.21M | -3.00M | 5.22M | -51.08M |
| Gain (Loss) on Sale of Investments | -200.00K | -1.49M | -2.91M | -5.96M | ||
| Gain (Loss) on Sale of Assets | 69.53M | |||||
| Asset Writedown | -3.98M | -3.98M | -275.00K | -2.20M | -69.87M | |
| Pretax Income | -47.86M | -58.26M | 18.74M | 62.83M | 2.31M | -126.90M |
| Income Tax Expense | -297.00K | -293.00K | 61.00K | 162.00K | -14.00K | 178.00K |
| Earnings From Continuing Operations | -47.56M | -57.96M | 18.68M | 62.67M | 2.33M | -127.08M |
| Net Income to Company | -47.56M | -57.96M | 18.68M | 62.67M | 2.33M | -127.08M |
| Minority Interest in Earnings | 5.44M | 4.64M | 2.03M | -7.34M | -8.59M | 35.55M |
| Net Income | -42.12M | -53.33M | 20.71M | 55.33M | -6.26M | -91.53M |
| Net Income to Common | -42.12M | -53.33M | 20.71M | 55.33M | -6.26M | -91.53M |
| Shares Outstanding (Basic) | 9.85M | 7.49M | 6.46M | 6.55M | 5.77M | 5.62M |
| Shares Outstanding (Diluted) | 9.85M | 7.49M | 6.47M | 6.56M | 5.77M | 5.62M |
| EPS (Basic) | -4.27 | -7.12 | 3.21 | 8.45 | -1.09 | -16.29 |
| EPS (Diluted) | -4.28 | -7.12 | 3.20 | 8.43 | -1.09 | -16.29 |
| Free Cash Flow | -21.23M | -34.07M | -20.00M | -14.37M | 2.67M | -26.79M |
| Free Cash Flow Per Share | -2.15 | -4.55 | -3.09 | -2.19 | 0.46 | -4.77 |
| Gross Margin | 5.57% | 7.00% | 14.17% | 18.48% | 30.80% | 27.60% |
| Operating Margin | -61.61% | -58.94% | -32.04% | -13.70% | -24.53% | -146.57% |
| Profit Margin | -61.78% | -58.42% | 18.27% | 59.30% | -11.92% | -197.16% |
| Free Cash Flow Margin | -31.14% | -37.32% | -17.64% | -15.40% | 5.08% | -57.71% |
| EBITDA | -38.59M | -50.60M | -33.56M | -8.76M | -8.99M | -59.77M |
| EBITDA Margin | -56.59% | -55.43% | -29.60% | -9.38% | -17.11% | -128.73% |
| D&A For EBITDA | 3.42M | 3.20M | 2.76M | 4.03M | 3.90M | 8.28M |
| EBIT | -42.01M | -53.80M | -36.32M | -12.79M | -12.90M | -68.04M |
| EBIT Margin | -61.61% | -58.94% | -32.04% | -13.70% | -24.53% | -146.57% |
| Effective Tax Rate | 0.33% | 0.26% |
Balance sheet
Fiscal year October - September; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 13.37M | 15.88M | 8.38M | 23.71M | 17.67M | 15.35M |
| Cash & Short-Term Investments | 13.37M | 15.88M | 8.38M | 23.71M | 17.67M | 15.35M |
| Accounts Receivable | 4.74M | 3.45M | 4.03M | 854.00K | 28.75M | 16.11M |
| Other Receivables | 2.06M | 19.00K | 4.00K | 9.82M | 8.96M | 13.33M |
| Receivables | 6.80M | 3.47M | 4.04M | 10.68M | 37.71M | 29.44M |
| Inventory | 34.08M | 36.62M | 80.52M | 90.20M | 2.11M | 4.18M |
| Restricted Cash | 2.00K | 27.00K | 14.00K | |||
| Other Current Assets | 6.59M | 10.08M | 6.82M | 17.20M | 24.06M | 9.16M |
| Total Current Assets | 60.83M | 66.08M | 99.75M | 141.78M | 81.54M | 58.14M |
| Property, Plant & Equipment | 29.32M | 32.49M | 28.62M | 21.92M | 47.94M | 50.59M |
| Long-Term Investments | 66.65M | 1.69M | 4.60M | |||
| Other Intangible Assets | 2.42M | 2.08M | 3.19M | 3.26M | 4.78M | 5.63M |
| Other Long-Term Assets | 4.89M | 83.00K | ||||
| Total Assets | 92.57M | 100.65M | 131.56M | 238.51M | 135.96M | 119.04M |
| Accounts Payable | 18.67M | 18.00M | 18.41M | 12.06M | 14.64M | 25.81M |
| Accrued Expenses | 9.50M | 14.82M | 17.51M | 9.21M | 19.23M | |
| Short-Term Debt | 46.59M | 42.32M | 35.42M | 4.23M | ||
| Current Portion of Long-Term Debt | 137.66M | 137.66M | ||||
| Current Portion of Leases | 17.00K | 303.00K | 63.00K | 113.00K | 119.00K | 559.00K |
| Current Income Taxes Payable | 435.00K | 435.00K | 807.00K | 773.00K | 773.00K | 908.00K |
| Current Unearned Revenue | 38.93M | 47.20M | 79.06M | 115.17M | 1.04M | |
| Other Current Liabilities | 41.48M | 26.25M | 33.02M | 171.91M | 139.67M | 101.16M |
| Total Current Liabilities | 155.62M | 149.33M | 184.28M | 313.46M | 292.87M | 286.37M |
| Long-Term Leases | 2.34M | 65.00K | 128.00K | 1.50M | 2.55M | |
| Long-Term Unearned Revenue | 12.47M | 10.49M | 5.81M | 6.18M | 14.23M | 15.72M |
| Total Liabilities | 168.09M | 162.16M | 190.16M | 319.77M | 308.60M | 304.64M |
| Additional Paid-In Capital | 638.33M | 638.33M | 578.51M | 573.29M | 551.93M | 539.32M |
| Retained Earnings | -648.56M | -634.18M | -580.85M | -601.57M | -656.90M | -650.63M |
| Treasury Stock | -4.46M | -4.46M | -6.13M | -6.13M | -6.13M | -6.13M |
| Comprehensive Income & Other | -22.96M | -23.02M | -22.82M | -22.99M | -22.77M | -23.22M |
| Total Common Equity | -37.66M | -23.34M | -31.29M | -57.40M | -133.87M | -140.67M |
| Minority Interest | -37.86M | -38.18M | -27.31M | -23.86M | -38.77M | -44.93M |
| Shareholders' Equity | -75.51M | -61.52M | -58.60M | -81.26M | -172.64M | -185.60M |
| Total Liabilities & Equity | 92.57M | 100.65M | 131.56M | 238.51M | 135.96M | 119.04M |
| Total Debt | 46.60M | 44.96M | 35.54M | 4.47M | 139.28M | 140.77M |
| Net Cash (Debt) | -33.23M | -29.09M | -27.17M | 19.24M | -121.61M | -125.42M |
| Net Cash Per Share | -3.37 | -3.88 | -4.20 | 2.93 | -21.07 | -22.33 |
| Filing Date Shares Outstanding | 11.92M | 11.92M | 7.20M | 6.33M | 6.28M | 5.77M |
| Total Common Shares Outstanding | 11.92M | 11.92M | 6.56M | 6.32M | 5.99M | 5.69M |
| Working Capital | -94.79M | -83.26M | -84.53M | -171.68M | -211.32M | -228.22M |
| Book Value Per Share | -3.16 | -1.96 | -4.77 | -9.08 | -22.35 | -24.73 |
| Tangible Book Value | -40.07M | -25.41M | -34.48M | -60.66M | -138.65M | -146.30M |
| Tangible Book Value Per Share | -3.36 | -2.13 | -5.26 | -9.60 | -23.15 | -25.72 |
| Machinery | 67.69M | 81.68M | 76.11M | 122.58M | 143.31M | |
| Construction In Progress | 11.37M | 11.20M | 2.25M |
Cash flow statement
Fiscal year October - September; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -42.12M | -53.33M | 20.71M | 55.33M | -6.26M | -91.53M |
| Depreciation & Amortization | 3.20M | 3.20M | 2.83M | 4.03M | 3.90M | 8.28M |
| Loss (Gain) From Sale of Assets | -281.00K | -281.00K | -70.18M | -10.17M | ||
| Asset Writedown & Restructuring Costs | 339.00K | 339.00K | 165.00K | 2.58M | 212.00K | 68.34M |
| Loss (Gain) From Sale of Investments | -64.83M | 1.49M | 2.91M | 5.96M | ||
| Stock-Based Compensation | 23.11M | 23.11M | 5.22M | 1.16M | 1.04M | 10.95M |
| Provision & Write-off of Bad Debts | -506.00K | -506.00K | 10.00M | -10.00K | 212.00K | |
| Other Operating Activities | -1.87M | -618.00K | -2.60M | -12.52M | 6.46M | 16.75M |
| Change in Accounts Receivable | -132.00K | -132.00K | -3.64M | 1.65M | -359.00K | 3.04M |
| Change in Inventory | 35.69M | 35.69M | 6.43M | -62.39M | -12.15M | -3.20M |
| Change in Accounts Payable | 4.01M | 4.01M | 3.53M | 2.19M | 991.00K | -427.00K |
| Change in Unearned Revenue | -31.60M | -31.60M | -35.87M | 50.05M | 14.80M | -18.85M |
| Change in Income Taxes | -649.00K | -649.00K | 34.00K | -135.00K | -28.00K | |
| Change in Other Net Operating Assets | -2.09M | -2.09M | 42.98M | 21.16M | -8.10M | -14.40M |
| Operating Cash Flow | -12.90M | -22.86M | -15.03M | -5.46M | 3.29M | -25.08M |
| Capital Expenditures | -8.33M | -11.21M | -4.97M | -8.91M | -622.00K | -1.72M |
| Sale of Property, Plant & Equipment | 463.00K | 463.00K | ||||
| Divestitures | -658.00K | -658.00K | -15.00K | |||
| Sale (Purchase) of Intangibles | -2.32M | -2.32M | -3.30M | |||
| Investment in Securities | 1.00M | -480.00K | -1.20M | |||
| Other Investing Activities | 1.71M | |||||
| Investing Cash Flow | -10.84M | -13.72M | -4.97M | -11.22M | -1.10M | -1.21M |
| Short-Term Debt Issued | 17.08M | 5.88M | 2.20M | |||
| Total Debt Issued | 17.34M | 17.08M | 5.88M | 2.20M | ||
| Short-Term Debt Repaid | -2.59M | -1.51M | -1.59M | -9.25M | ||
| Long-Term Debt Repaid | -6.95M | |||||
| Total Debt Repaid | -9.66M | -9.54M | -1.51M | -1.59M | -9.25M | |
| Net Debt Issued (Repaid) | 7.68M | 7.54M | 4.38M | -1.59M | -9.25M | 2.20M |
| Issuance of Common Stock | 27.87M | 38.42M | 599.00K | 19.82M | 11.35M | 17.64M |
| Other Financing Activities | -966.00K | -1.65M | -480.00K | 4.70M | -2.43M | |
| Financing Cash Flow | 34.59M | 44.31M | 4.50M | 22.93M | -332.00K | 19.84M |
| Foreign Exchange Rate Adjustments | 152.00K | -203.00K | 172.00K | -214.00K | 447.00K | -816.00K |
| Miscellaneous Cash Flow Adjustments | -52.00K | -27.00K | 14.00K | 133.00K | ||
| Net Cash Flow | 10.95M | 7.50M | -15.33M | 6.04M | 2.32M | -7.13M |
| Free Cash Flow | -21.23M | -34.07M | -20.00M | -14.37M | 2.67M | -26.79M |
| Free Cash Flow Margin | -31.14% | -37.32% | -17.64% | -15.40% | 5.08% | -57.71% |
| Free Cash Flow Per Share | -2.15 | -4.55 | -3.09 | -2.19 | 0.46 | -4.77 |
| Levered Free Cash Flow | -4.76M | -23.49M | -154.18M | 84.21M | -23.03M | -59.47M |
| Unlevered Free Cash Flow | -2.33M | -21.77M | -153.24M | 84.82M | -17.88M | -54.12M |
| Cash Interest Paid | 2.60M | 2.60M | 1.02M | 843.00K | 424.00K | |
| Cash Income Tax Paid | 99.00K | 99.00K | 75.00K | 41.00K | 162.00K | |
| Change in Working Capital | 5.23M | 5.23M | 13.46M | 12.66M | -4.96M | -33.87M |
Ratios
Fiscal year October - September; amounts in CNY.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 9.23M | 9.49M | 19.22M | 20.77M | 49.99M | 45.98M |
| Enterprise Value | 14.05M | 9.31M | 14.98M | 35.03M | 64.13M | 61.97M |
| Last Close Price | 0.77 | 1.21 | 3.04 | 3.31 | 8.66 | 8.18 |
| PE Ratio | 6.51 | 2.74 | ||||
| PS Ratio | 0.93 | 0.74 | 1.19 | 1.62 | 6.76 | 6.38 |
| PB Ratio | -1.10 | -2.30 | -1.86 | -2.06 | -1.60 | |
| P/FCF Ratio | 133.26 | |||||
| P/OCF Ratio | 108.08 | |||||
| EV/Sales Ratio | 1.42 | 0.73 | 0.93 | 2.74 | 8.68 | 8.60 |
| EV/FCF Ratio | 170.95 | |||||
| Debt / Equity Ratio | -0.62 | -0.73 | -0.61 | -0.06 | -0.81 | -0.76 |
| Debt / FCF Ratio | 52.18 | |||||
| Net Debt / Equity Ratio | -0.44 | -0.47 | -0.46 | 0.24 | -0.70 | -0.68 |
| Net Debt / EBITDA Ratio | -0.86 | -0.57 | -0.81 | 2.20 | -13.52 | -2.10 |
| Net Debt / FCF Ratio | -1.56 | -0.85 | -1.36 | 1.34 | 45.56 | -4.68 |
| Asset Turnover | 0.75 | 0.79 | 0.61 | 0.50 | 0.41 | 0.25 |
| Inventory Turnover | 1.68 | 1.45 | 1.14 | 1.65 | 11.58 | 3.79 |
| Quick Ratio | 0.13 | 0.13 | 0.07 | 0.11 | 0.19 | 0.16 |
| Current Ratio | 0.39 | 0.44 | 0.54 | 0.45 | 0.28 | 0.20 |
| Return on Assets (ROA) | -28.97% | -28.96% | -12.27% | -4.27% | -6.32% | -22.75% |
| Return on Capital Employed (ROCE) | 66.60% | 110.50% | 68.90% | 17.10% | 8.20% | 40.70% |
| Earnings Yield | -80.04% | -78.90% | 15.37% | 36.51% | -1.76% | -30.89% |
| FCF Yield | -34.54% | -50.41% | -14.84% | -9.48% | 0.75% | -9.04% |
| Buyback Yield / Dilution | -42.85% | -15.86% | 1.48% | -13.67% | -2.77% | -11.70% |