Oct. 16, 2018
Origin Agritech Ltd. ("the Company" or "Origin") an agriculture technology and rural e-commerce company, announced the establishment of two new joint ventures: Anhui Aoyu Zhongye Technology Ltd. (Anhui Aoyu) in Anhui province and Xuzhou Aoyu Agricultural Technology Ltd. (Xuzhou Aoyu) in Jiangsu province. Origin holds 50% of equity in Anhui Aoyu and 51% of equity in Xuzhou Aoyu. Five agricultural product distributors are the investing partners in each of these two JVs.
The establishment of these two joint ventures, along with the Hubei Aoyu Agricultural Technology Limited (Hubei Aoyu) announced previously are the cornerstone of the Origin e-Commune Network, which is based on the e-commerce technologies and Origin's strong brand equity across rural China. The successful development of these three joint ventures demonstrated the acceptance of the major distributors toward revolutionary e-commune network philosophy in providing integrated and customized technology solution to the farmers across China.