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ORGANIZATION AND PRINCIPAL ACTIVITIES (Tables)

12 Months Ended

Sep. 30, 2022

ORGANIZATION AND PRINCIPAL ACTIVITIES

Schedule of company's subsidiaries and variable interest entities included in continuing operations

As of September 30, 2022, the Company’s subsidiaries and variable interest entities included in continuing operations consisted of the following:

​

​	​	​	​	​	​	​	​	​
​		Date of		Place of		Percentage
​	​	Incorporation	​	Incorporation	​	of	​	Principal
Name	​	or Establishment	​	or Establishment	​	Ownership	​	Activity
Subsidiaries:	​	​	​	​	​	​	​	​
State Harvest Holdings Limited(“State Harvest”)	​	October 6, 2004		British Virgin Islands		100	%	Investment Holding
​	​	​	​	​	​	​	​	​
OAL SMY Limited	​	July 28, 2021	​	USA	​	100	%	Investment Holding
​	​
Beijing Origin State Harvest Biotechnology Limited (“BioTech”)	​	December 1, 2004		People’s Republic of China (“PRC”)		100	%	Hybrid seed technology development
​	​
Variable interest entity:	​
​	​	​	​	​	​	​	​	​
Beijing Origin Seed Limited (note (i)) (“Beijing Origin”)	​	December 26, 1997		PRC		Note (i)		Hybrid crop seed development, production and distribution
​	​
Subsidiaries held by Beijing Origin:	​
​	​	​	​	​	​	​	​	​
Xinjiang Originbo Seed Company Limited (note (i)) (“Xinjiang Origin”)	​	July 13, 2011		PRC		51	%	Hybrid crop seed development, production and distribution
​	​	​	​	​	​	​	​	​
Hainan Aoyu Biotechnology Limited(Hainan Aoyu)	​	March 2, 2022	​	PRC	​	100	%	Hybrid crop seed development, production and distribution
​	​	​	​	​	​	​	​	​
Subsidiaries held by State Harvest:	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​
Shandong Aoruixinong Agricultural Technology Limited (Shandong Aoruixinong)	​	September 27, 2019	​	PRC	​	51	%	Agricultural seed products distribution through e-commune network
​	​	​	​	​	​	​	​	​
Hubei Aoyu Zhongye Limited (Hubei Aoyu)	​	October 22, 2018		PRC		51	%	Agricultural seed products distribution through e-commerce network
​	​	​	​	​	​	​	​	​
Anhui Aoyu Zhongye Limited (Anhui Aoyu)	​	July 25, 2018	​	PRC	​	50	%	Agricultural seed products distribution through e-commerce network
​	​	​	​	​	​	​	​	​
Xuzhou Aoyu Zhongye Limited (Xuzhou Aoyu)	​	September 25, 2018	​	PRC	​	51	%	Agricultural seed products distribution through e-commerce network
​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​
Henan Aoyu Zhongye Limited (note (i)) (“Henan Aoyu”)	​	July 16, 2018	​	PRC	​	51	%	Agricultural seed products distribution through e-commerce network

Note (i): Beijing Origin Seed Limited, Xinjiang Originbo Seed Company Limited, and Zhengzhou Branch of Beijing Origin Seed Limited are collectively referred to as “Beijing Origin”.

​

Schedule of variable interest entities

​

​	​	​	​	​	​	​
​	​	September 30,
​	​	2021	​	2022	​	2022
​		RMB		RMB		US$
ASSETS	​	​	​	​	​	​
Current Assets	​	​	​	​	​	​
Cash and cash equivalents	​	305	​	950	​	134
Restricted cash		—		—		—
Due from related party		—		—		—
Accounts receivable	​	11	​	304	​	43
Advances to suppliers		260		8,456		1,191
Inventories		1,052		—		—
Other current assets		730		7,698		1,084
Total current assets		2,358		17,408		2,452
Land use rights, net		1,854		1,792		252
Plant and equipment, net		48,599		32,952		4,641
Equity investments		—		—		—
Acquired intangible assets, net		—		—		—
Other assets		83		1,554		219
Total assets		52,894		53,706		7,564
LIABILITIES		​
Current liabilities
Short-term borrowings		—		—		—
Current portion of long-term borrowings		137,660		137,660		19,389
Accounts payable		9,107		10,064		1,418
Due to growers	​	6,673	​	404	​	57
Due to related parties		30,665		24,136		3,400
Advances from customers	​	22,772	​	29,420	​	4,144
Other payables and accrued expenses		51,520		58,954		8,304
Total current liabilities		258,397		260,638		36,712
Long-term borrowings		—		—		—
Other long-term liability		15,717		15,732		2,216
Total liabilities		274,114		276,370		38,928

​

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Tabular disclosure for company's subsidiaries and variable interest entities.

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Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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