XML 93 R4.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Sep. 30, 2014
USD ($)
Sep. 30, 2014
CNY
Sep. 30, 2013
CNY
Sep. 30, 2012
CNY
Revenues $ 67,521us-gaap_Revenues 414,891us-gaap_Revenues 481,694us-gaap_Revenues 552,111us-gaap_Revenues
Cost of revenues (49,010)us-gaap_CostOfRevenue (301,148)us-gaap_CostOfRevenue (315,082)us-gaap_CostOfRevenue (387,783)us-gaap_CostOfRevenue
Gross profit 18,511us-gaap_GrossProfit 113,743us-gaap_GrossProfit 166,612us-gaap_GrossProfit 164,328us-gaap_GrossProfit
Operating expenses        
Selling and marketing (9,597)us-gaap_SellingAndMarketingExpense (58,972)us-gaap_SellingAndMarketingExpense (55,375)us-gaap_SellingAndMarketingExpense (56,437)us-gaap_SellingAndMarketingExpense
General and administrative (7,556)us-gaap_GeneralAndAdministrativeExpense (46,428)us-gaap_GeneralAndAdministrativeExpense (66,153)us-gaap_GeneralAndAdministrativeExpense (77,585)us-gaap_GeneralAndAdministrativeExpense
Research and development (6,571)us-gaap_ResearchAndDevelopmentExpense (40,377)us-gaap_ResearchAndDevelopmentExpense (42,162)us-gaap_ResearchAndDevelopmentExpense (37,629)us-gaap_ResearchAndDevelopmentExpense
Other income, net 1,229us-gaap_OtherIncome 7,555us-gaap_OtherIncome 15,241us-gaap_OtherIncome 3,852us-gaap_OtherIncome
Total operating expenses, net (22,495)us-gaap_OperatingExpenses (138,222)us-gaap_OperatingExpenses (148,449)us-gaap_OperatingExpenses (167,799)us-gaap_OperatingExpenses
Income(loss) from operations (3,984)us-gaap_OperatingIncomeLoss (24,479)us-gaap_OperatingIncomeLoss 18,163us-gaap_OperatingIncomeLoss (3,471)us-gaap_OperatingIncomeLoss
Interest expense (3,213)us-gaap_InterestExpense (19,743)us-gaap_InterestExpense (11,326)us-gaap_InterestExpense (4,029)us-gaap_InterestExpense
Share of net income (loss) of equity investments (126)us-gaap_InvestmentIncomeDividend (776)us-gaap_InvestmentIncomeDividend 5,161us-gaap_InvestmentIncomeDividend 4,030us-gaap_InvestmentIncomeDividend
Loss on disposal of an equity method investment (244)us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal (1,498)us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal 0us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal 0us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal
Loss on disposal of a subsidiary (427)us-gaap_GainOrLossOnSaleOfStockInSubsidiary (2,623)us-gaap_GainOrLossOnSaleOfStockInSubsidiary 0us-gaap_GainOrLossOnSaleOfStockInSubsidiary 0us-gaap_GainOrLossOnSaleOfStockInSubsidiary
Interest income 97us-gaap_InvestmentIncomeInterest 596us-gaap_InvestmentIncomeInterest 1,776us-gaap_InvestmentIncomeInterest 2,547us-gaap_InvestmentIncomeInterest
Income (loss) before income taxes (7,897)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest (48,523)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 13,774us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest (923)us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax (expense)benefits(note 18)        
Current (110)us-gaap_CurrentIncomeTaxExpenseBenefit (677)us-gaap_CurrentIncomeTaxExpenseBenefit (2,707)us-gaap_CurrentIncomeTaxExpenseBenefit (589)us-gaap_CurrentIncomeTaxExpenseBenefit
Deferred 0us-gaap_DeferredIncomeTaxExpenseBenefit 0us-gaap_DeferredIncomeTaxExpenseBenefit (1,755)us-gaap_DeferredIncomeTaxExpenseBenefit (1,273)us-gaap_DeferredIncomeTaxExpenseBenefit
Reversal of contingent tax liability 6,357us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions 39,060us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions 0us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions 0us-gaap_TaxAdjustmentsSettlementsAndUnusualProvisions
Income tax (expense) benefits 6,247us-gaap_IncomeTaxExpenseBenefit 38,383us-gaap_IncomeTaxExpenseBenefit (4,462)us-gaap_IncomeTaxExpenseBenefit (1,862)us-gaap_IncomeTaxExpenseBenefit
Net income (loss) (1,650)us-gaap_ProfitLoss (10,140)us-gaap_ProfitLoss 9,312us-gaap_ProfitLoss (2,785)us-gaap_ProfitLoss
Less: Net income (loss) attributable to non-controlling interests (100)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (613)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest 1,818us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (1,351)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income (loss) attributable to Origin Agritech Limited (1,550)us-gaap_NetIncomeLoss (9,527)us-gaap_NetIncomeLoss 7,494us-gaap_NetIncomeLoss (1,434)us-gaap_NetIncomeLoss
Other comprehensive income (loss)        
Net income (loss) (1,650)us-gaap_ProfitLoss (10,140)us-gaap_ProfitLoss 9,312us-gaap_ProfitLoss (2,785)us-gaap_ProfitLoss
Foreign currency translation difference (9)us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax (56)us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax 1,890us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax 117us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
Comprehensive income (loss) (1,659)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest (10,196)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest 11,202us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest (2,668)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
Less: Comprehensive income (loss) attributable to non-controlling interests (100)us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest (613)us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest 1,818us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest (1,351)us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
Comprehensive income (loss) attributable to Origin Agritech Limited $ (1,559)us-gaap_ComprehensiveIncomeNetOfTax (9,583)us-gaap_ComprehensiveIncomeNetOfTax 9,384us-gaap_ComprehensiveIncomeNetOfTax (1,317)us-gaap_ComprehensiveIncomeNetOfTax
Net income (loss) attributable to Origin Agritech Limited per share - basic (note 19) (in dollars per share) $ (0.07)us-gaap_EarningsPerShareBasic (0.42)us-gaap_EarningsPerShareBasic 0.32us-gaap_EarningsPerShareBasic (0.06)us-gaap_EarningsPerShareBasic
Net income (loss) attributable to Origin Agritech Limited per share - diluted (note 19) (in dollars per share) $ (0.07)us-gaap_EarningsPerShareDiluted (0.42)us-gaap_EarningsPerShareDiluted 0.32us-gaap_EarningsPerShareDiluted (0.06)us-gaap_EarningsPerShareDiluted
Shares used in calculating basic net income (loss) per share (in shares) 22,743,853us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 22,743,853us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 23,259,127us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 23,382,812us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Shares used in calculating diluted net income (loss) per share (in shares) 22,743,853us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 22,743,853us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 23,278,443us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 23,382,812us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding