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RELATED PARTY BALANCES AND TRANSACTIONS

12 Months Ended

Sep. 30, 2011

3.	RELATED PARTY BALANCES AND TRANSACTIONS

(1)

Related party relationships

Name of related parties		Relationship
Shenzhen Biocentury Transgene (China) Limited (“Biocentury”)		Being an equity investment of the Company which disposed on May 27, 2010 (note 10)
Jinong		Being an equity investment of the Company (note 10)
Liyu		Being an equity investment of the Company (note 10)
Henan Agriculture University		Being non-controlling interests of Beijing Origin
Xinjiang Jinbo Seed Limited		Being non-controlling interests of Xinjiang Origin
Mr. Zhai		Being non-controlling interests of Kunfeng

(2)

Due from related parties

	September 30,
	2010		2011
	RMB		RMB

Jinong (note (i))		6		3,505
Henan Agriculture University		-		24
Liyu		3,094		-
Non-controlling interests of Denong		7		7
Non-controlling interests of Changrong		2,000		-
Non-controlling interests of Xinjiang Origin		-		1,447
Non-controlling interests of Kunfeng		-		200

		5,107		5,183

Note (i):

The balance as of September 30, 2011 represented the deposit paid to Jinong for purchasing of seeds.

(3)

Due to related parties

	September 30,
	2010		2011
	RMB		RMB

Non-controlling interests of Denong (note (i))		113		113
Non-controlling interests of Beijing Origin		68		-
Companies controlled by the Company’s directors		1,461		1,385
Ex-shareholders of State Harvest		147		140
Jinong		6,137		-
Liyu		-		90

		7,926		1,728

Note (i):

This is the amount temporarily funded by non-controlling interests of Denong. The amount is payable on demand with interest free.

(4)

Transactions with related parties

(a)

Sales

	Year ended September 30,
	2009		2010		2011
	RMB		RMB		RMB

Jinong		-		-		2,000

(b)

Purchases

	Year ended September 30,
	2009		2010		2011
	RMB		RMB		RMB

Biocentury		116		116		-
Liyu		-		240		90
Jinong		-		6		-

		116		362		90

(c)

Technology usage fees

	Year ended September 30,
	2009		2010		2011
	RMB		RMB		RMB

Liyu		5,752		5,471		5,953
Henan Agriculture University		108		68		-
Non-controlling interests of Denong		566		599		602
Biocentury		300		306		-

		6,726		6,444		6,555

The above amounts relate to technology usage fees paid to certain related party research centers for the exclusive right to use certain seed technologies.

(d)

Sales of plant and equipment

	Year ended September 30,
	2009		2010		2011
	RMB		RMB		RMB

Non-controlling interests of Denong		8		-		-
Jinong		640		-		-

		648		-		-

(e)

Purchases of plant and equipment

	Year ended September 30,
	2009		2010		2011
	RMB		RMB		RMB

Jinong		-		150		-

(f)

Interest income

	Year ended September 30,
	2009		2010		2011
	RMB		RMB		RMB

Non-controlling interests of Changrong		261		-		-

(g)

Rental expense paid for plant and equipment

	Year ended September 30,
	2009		2010		2011
	RMB		RMB		RMB

Jinong		1,687		935		468

(h)

Research & Development expenses

	Year ended September 30,
	2009		2010		2011
	RMB		RMB		RMB

Holding company of Jinong		5,000		5,000		5,000

(i)

Dividend received

	Year ended September 30,
	2009		2010		2011
	RMB		RMB		RMB

Biocentury		3,400		-		-
Liyu		1,200		1,200		2,467

		4,600		1,200		2,467

(j)

Dividend paid

	Year ended September 30,
	2009		2010		2011
	RMB		RMB		RMB

Jinong		4,020		5,025		10,050

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 3A

-Section 04

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 57

-Paragraph 1-4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

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Reference 8: http://www.xbrl.org/2003/role/presentationRef

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+ Details