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Longping High-Tech marches towards top five in global seed industry within ten years
Aug. 1, 2014
On 30 June, 2014, Yuan Longping High-Tech Agriculture Co., Ltd. (Longping High-Tech) held the 2013 general meeting of stockholders. Board chairman Wu Yueshi said in the meeting that Longping High-Tech will transform its previous endogenous development to extended development by quickening merger and acquisition. Therefore by varieties complement, enterprise coordination and so on, Longping High-Tech can strengthen its major business and march towards top five in global seed industry within eight to ten years.
This also means that merger and acquisition can gain more advanced capitals with lower cost and rapidly realize extensional expansion. This will probably become an important way for Longping High-Tech to realize its goal.
In 2013, Longping High-Tech accomplished the stock shifting-up of its three subsidiaries, including Hunan Longping Seed Industry Co., Ltd., Anhui Longping High-tech Agriculture Co., Ltd. and Hunan Yahua Seed Co., Ltd. At the same time, in April, Aug. and Dec. of 2013, Longping High-Tech transferred part of stocks of Hunan Longkang Agricultural Material Co., Ltd., Jiangxi Longping Organic Agriculture Co., Ltd. and Hunan Longbo Investment Co., Ltd. respectively.
As for Longping Miya High-tech Co., Ltd. and Hunan Longping High-tech Vegetable Industry Co., Ltd. which run a bad operation, Longping High-Tech closed up their business and charged off their agrichemical development subsidiaries. After the internal integration, Longping High-Tech made an overall arrangement on extensional expansion.
On May, 2014, Longping High-Tech released an announcement declaring that its big stockholder Hunan Xindaxin Group Co., Ltd. would purchase Origin Agritech Limited and promised that it would be injected into a listed company. Origin Agritech Limited specializes in hybrid corn seed.
Besides, on biological technology, Origin Agritech Limited takes the lead among domestic seed enterprises to develop and apply large-scale transgenic breeding and breeding technology with molecule marking. Also, Origin Agritech Limited is the first domestic enterprise to gain the safety certificate for transplanted phytase transgenic corn. In addition to transplanted phytase transgenic corn, Origin Agritech Limited owns glyphosate resistant transgenic corn. However, Origin Agritech Limited has not received any announcement on its glyphosate resistant transgenic corn getting safety certificate so far.
Source: CCM
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