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RELATED PARTY BALANCES AND TRANSACTIONS | 12 Months Ended
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Sep. 30, 2022
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
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
Beijing Agrite Co., Ltd. | ​ | Being owned by close family members of the Company’s Chairman
Fifth Division State-owned Assets Management and Operation Co., Ltd | ​ | Being the non-controlling interest of Xinjiang Origin
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 September 30, 2022, the restructuring for Linze Origin is in process. (1)Due from related parties, net of bad debt allowance ​
​ | ​ | ​ | ​ | ​
​ | ​ | September 30,
​ |  | 2021 |  | 2022
​ | ​ | RMB | ​ | RMB
​ | ​ | ​ | ​ | ​
Denong |  | 1 |  | —
Linze Origin Seeds Ltd | ​ | 45 | ​ | 45
Beijing Shihui | ​ | 32,128 | ​ | 29,998
NCI | ​ | 15,848 | ​ | 9,165
Henan Yingde Agricultural Ltd. | ​ | 8,684 | ​ | 11,529
Beijing Liantaide | ​ | 4,600 | ​ | 7,466
The Close family of the Company’s Chairman | ​ | 1 | ​ | 6
Total |  | 61,307 |  | 58,125
Allowance for doubtful account | ​ | 32,128 | ​ | 29,998
Due from related parties, net | ​ | 29,179 | ​ | 28,127
​
| (2) | Due from related party-noncurrent
As of September 30, 2022, 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). The Company incurred allowance of due from related party-noncurrent of RMB–nil- for both the year ended September 30, 2021 and 2022, respectively.
| (3) | Due to related parties
​
​ | ​ | ​ | ​ | ​
​ | ​ | September 30,
​ |  | 2021 |  | 2022
​ |  | 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 |  | —
Companies controlled by the Company’s directors (ii) |  | 1,556 |  | 1,702
NCI |  | 11,348 |  | 10,123
The Company’s Chairman (ii) | ​ | 1,020 | ​ | 970
Close family of the Company’s Chairman (ii) | ​ | 3,641 | ​ | 187
YingDe | ​ | 1,350 | ​ | 4,293
​ |  | 30,269 |  | 18,629
Note (i): 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,
​ |  | 2020 |  | 2021 |  | 2022
​ | ​ | RMB |  | RMB |  | RMB
YingDe |  | 5,315 |  | 3,134 |  | 1,818
NCI | ​ | 10,612 | ​ | 4,701 | ​ | 3,574
Henan Agriculture University | ​ | — | ​ | — | ​ | 5
The close family of the Company’s Chairman | ​ | — | ​ | — | ​ | 2,618
​ |  | 15,927 |  | 7,835 |  | 8,015
​
| (b) | Purchase from
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended
​ | ​ | September 30,
​ |  | 2020 |  | 2021 |  | 2022
​ | ​ | RMB | ​ | RMB | ​ | RMB
Denong |  | 166 |  | — |  | —
YingDe |  | 10,975 |  | 11,700 |  | 14,012
Linze Origin Seeds Limited |  | 3,416 |  | 4,706 |  | —
Beijing Shihui | ​ | — | ​ | 360 | ​ | —
Liantaide |  | — |  | — |  | 9,708
Close family of the Company’s Chairman | ​ | 32 | ​ | 333 | ​ | 29
NCI |  | 2,861 |  | 2,227 |  | —
​ |  | 17,450 |  | 19,326 |  | 23,749
​

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