In China, Origin Agritech Limited announced unaudited financial results for the fiscal year ended September 30, 2013. The company reported an operating profit of RMB18.16 million, compared to a loss of RMB3.47 million in the same quarter of 2012. Total revenues for the fiscal year ended September 30, 2013 were RMB481.69 million (US$77.30 million), a decrease of 13% from RMB552.11 million during the fiscal year ended September 30, 2012. Overall, the year-over-year decrease in revenues was mainly due to the divestment of the cotton and pesticide businesses, and the drop in sales volume of corn and rice as a result of increasing competition in the crop seed market and unfavorable weather for its Northeast operations in fiscal year 2013.
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