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RELATED PARTY BALANCES AND TRANSACTIONS | 12 Months Ended
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Sep. 30, 2021
RELATED PARTY BALANCES AND TRANSACTIONS |
RELATED PARTY BALANCES AND TRANSACTIONS | 3. RELATED PARTY BALANCES AND TRANSACTIONS
| (1) | Related party relationships
​
Name of related parties |  | Relationship
Beijing Shihui(i) | ​ | Being owned by close family members of the Company’s Chairman
Xinjiang Ginbo Seeds Center | ​ | Being the non-controlling interest of Xinjiang Origin
Henan Agricultural University |  | Being the non-controlling interest of Beijing Origin
Linze Origin Seeds Ltd.(i) |  | Being owned by close family members of the Company’s Chairman
De Nong Zheng Cheng Seed Limited | ​ | Being owned by close family members of the Company’s Chairman
Henan Yingde Agricultural Ltd. | ​ | Being owned by close family members of the Company’s Chairman
Beijing Liantaide Biotechnology Co., Ltd. | ​ | Being owned by close family members of the Company’s Chairman
Non-controlling shareholders (“NCI”) | ​ | Non- controlling shareholders of Hubei Aoyu, Anhui Aoyu, Xuzhou Aoyu, Shandong Aoyu, Henan Aoyu, Shandong Aoruixinong
(i)Other than typical transactions between related parties, the Company has entered into a Restructuring Agreement with three parties: Linze Fumin Industrial Investment and Development Co., Ltd. (Linze Fumin), Beijing Shihui, Linze Origin Seeds Ltd (Linze Origin) in April 2020. According to the Restructuring Agreement, Linze Origin, which is currently a wholly owned subsidiary of Beijing Shihui, would be restructured. At the result of the planned restructuring, Linze Fumin, an investment company owned by the Linze county government, and the Company would have 51% and 49%, respectively, of the ownership of Linze Origin. The restructuring would require the Company to repay the borrowing amounted to RMB27.0 million from Beijing Agriculture Finance Leasing, LLC.(“BAFL”) for Linze Origin and to offer a loan of RMB20.0 million to Linze Origin. As of February 10, 2022, the restructuring for Linze Origin is in process. (1)Due from related parties, net of bad debt allowance ​
​ | ​ | ​ | ​ | ​
​ | ​ | September 30,
​ |  | 2020 |  | 2021
​ | ​ | RMB | ​ | RMB
​ | ​ | ​ | ​ | ​
Denong |  | 1 |  | 1
Linze Origin Seeds Ltd | ​ | 45 | ​ | 45
Beijing Shihui | ​ | 28,340 | ​ | 32,128
NCI | ​ | 12,423 | ​ | 15,848
Henan Yingde Agricultural Ltd. | ​ | 8,904 | ​ | 8,684
Beijing Liantaide | ​ | — | ​ | 4,600
The Close family of the Company’s Chairman | ​ | 932 | ​ | 1
Total |  | 50,645 |  | 61,307
Allowance for doubtful account | ​ | 28,340 | ​ | 32,128
Due from related parties, net | ​ | 22,305 | ​ | 29,179
​
| (2) | Due from related party-noncurrent
As of September 30, 2020, the balance of due from related party-noncurrent of RMB 42,246 represents the receivable from Linze Origin Seeds Ltd. This balance is presented as noncurrent according to the Restructuring Agreement disclosed in Note 3(1)(i). The Company incurred allowance of due from related party-noncurrent of RMB–nil- and RMB40,540 for the year ended September 30, 2020 and 2021, respectively.
| (3) | Due to related parties
​
​ | ​ | ​ | ​ | ​
​ | ​ | September 30,
​ |  | 2020 |  | 2021
​ |  | RMB |  | RMB
​ | ​ | ​ | ​ | ​
Linze Origin Seeds Limited | ​ | 300 | ​ | 300
Henan Agriculture University | ​ | 1,000 | ​ | 1,000
Xinjiang Ginbo Seeds Center (i) (ii) | ​ | 54 | ​ | 54
Xinjiang Production And Construction Corps 5th Division State-owned Assets Management Co.,Ltd. (ii) |  | 10,000 |  | 10,000
Companies controlled by the Company’s directors (ii) |  | 1,633 |  | 1,556
NCI |  | 10,176 |  | 11,348
The Company’s Chairman (ii) | ​ | 1,704 | ​ | 1,020
Close family of the Company’s Chairman (ii) | ​ | 680 | ​ | 3,641
YingDe | ​ | 934 | ​ | 1,350
​ |  | 26,481 |  | 30,269
Note (i): Xinjiang Origin has received a cash advance of RMB 10,000 from Xinjiang Ginbo Seeds Center during the year ended September 30, 2016, which is unsecured, interest-free and repayable on demand, and has been transferred to Xinjiang Production And Construction Corps 5th Division State-owned Assets Management Co.,Ltd. for the years ended September 30, 2020. Note (ii):In the ordinary course of business, the Company purchases raw materials from and sells product to related parties, and related parties also provide cash to fund the Company’s operations.
| (3) | Transactions with related parties
| (a) | Sales to
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended
​ | ​ | September 30,
​ |  | 2019 |  | 2020 |  | 2021
​ | ​ | RMB |  | RMB |  | RMB
Linze Origin Seeds Limited | ​ | 83 | ​ | — | ​ | —
Beijing Shihui |  | 20,823 |  | — |  | 1,706
YingDe | ​ | — | ​ | 5,315 | ​ | 3,134
NCI | ​ | 17,081 | ​ | 10,612 | ​ | 5,967
Zhengzhou Branch | ​ | — | ​ | — | ​ | —
​ |  | 37,987 |  | 15,927 |  | 10,808
​
| (b) | Purchase from
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended
​ | ​ | September 30,
​ |  | 2019 |  | 2020 |  | 2021
​ | ​ | RMB | ​ | RMB | ​ | RMB
Denong |  | — |  | 166 |  | —
YingDe |  | — |  | 10,975 |  | 11,700
Linze Origin Seeds Limited |  | — |  | 3,416 |  | 4,706
Beijing Shihui | ​ | — | ​ | — | ​ | 360
Close family of the Company’s Chairman |  | — |  | 32 |  | 333
NCI |  | — |  | 2,861 |  | 2,227
​ |  | — |  | 17,450 |  | 19,326
​

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