XML 28 R10.htm IDEA: XBRL DOCUMENT
v3.25.0.1

RELATED PARTY BALANCES AND TRANSACTIONS | 12 Months Ended
--- | ---
Sep. 30, 2024
RELATED PARTY BALANCES AND TRANSACTIONS |
RELATED PARTY BALANCES AND TRANSACTIONS | 3. RELATED PARTY BALANCES AND TRANSACTIONS (In RMB’000)
| (1) | Related party relationships
​
Name of related parties |  | Relationship
Beijing Shihui(i) | ​ | Being owned by close family members of the Company’s Chairman
Linze Origin Seeds Ltd.(i) |  | 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
Shareholders | ​ | Non-controlling shareholders of Hubei Aoyu, Anhui Aoyu, Xuzhou
​ | ​ | Aoyu, Shandong Aoruixinong, 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, 2024, the restructuring for Linze Origin is in process. (1)Due from related parties, net of bad debt allowance ​
​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB
​ | ​ | ​ | ​ | ​
Linze Origin Seeds Ltd | ​ | 45 | ​ | 45
Beijing Shihui | ​ | 17,060 | ​ | 17,060
Shareholders (i) | ​ | 5,336 | ​ | 2,842
Henan Yingde Agricultural Ltd. | ​ | — | ​ | —
Beijing Liantaide (ii) | ​ | 9,046 | ​ | 1,186
Beijing Origin | ​ | 450 | ​ | —
The Company’s Chairman | ​ | 5,999 | ​ | 4,607
The Close family of the Company’s Chairman | ​ | 6 | ​ | 6
Total |  | 37,942 | ​ | 25,746
Allowance for doubtful account | ​ | 17,560 | ​ | 17,110
Due from related parties, net | ​ | 20,382 | ​ | 8,636
Note (i): As of September 30, 2023 and 2024, the balance of due from shareholders include seed sales amounted RMB 15 and RMB 926, advances for business use amounted RMB 4,421 and RMB 1,514 and advances for purchases raw materials amounted RMB 900 and RMB -nil-, respectively. Note (ii): As of September 30, 2024, the balance of due from shareholders are advances for purchases raw materials amounted RMB 9,046 and RMB 1,186, respectively.
| (2) | Due to related parties
​
​ | ​ | ​ | ​ | ​
​ |  | 2023 |  | 2024
​ |  | RMB | ​ | RMB
​ | ​ | ​ | ​ | ​
Xinjiang Ginbo Seeds Center | ​ | 54 | ​ | —
Companies controlled by the Company’s directors (i) |  | 1,721 | ​ | 1,680
Shareholders (i) (ii) |  | 15,434 | ​ | 13,118
Beijing Origin (iii) | ​ | 148,219 | ​ | —
The Company’s Chairman | ​ | 3,657 | ​ | 3,973
YingDe(i) | ​ | 5,399 | ​ | 8,258
​ |  | 174,484 | ​ | 27,029
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. Note (ii): As of September 30, 2023 and 2024, the balance of due to shareholders include borrowing amounted RMB 5,381 and RMB 6,836, which is unsecured, interest-bearing and repayable on demand, accrued interest amounted use amounted RMB 354 and RMB 1,140 and advances from shareholders of selling seed amounted RMB 9,699 and RMB 5,142. Note (iii): In September 2024, the Company transferred all of its shares in Beijing Origin to BC - TID and Beijing Origin has ceased to be an associate of the Company.
| (3) | Transactions with related parties
| (a) | Sales to
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended
​ | ​ | September 30,
​ |  | 2022 |  | 2023 |  | 2024
​ | ​ | RMB |  | RMB |  | RMB
YingDe |  | 1,818 | ​ | 6,384 | ​ | —
Shareholders (i) | ​ | 3,574 | ​ | 4,677 | ​ | 2,682
Henan Agriculture University | ​ | 5 | ​ | — | ​ | —
The close family of the Company’s Chairman | ​ | 2,618 | ​ | — | ​ | —
Liantaide |  | — | ​ | — | ​ | 15
​ |  | 8,015 | ​ | 11,061 | ​ | 2,697
Note(i): RMB 3,574, RMB4,677 and RMB2,682, or 7%, 5% and 2% of the Company for the year ended September 30, 2023 and 2024, respectively, are derived from shareholders and the sales price is market price.
| (b) | Purchase from
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended
​ | ​ | September 30,
​ |  | 2022 |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB | ​ | RMB
YingDe |  | 14,012 |  | 162 |  | —
Liantaide |  | 9,708 |  | 6,334 |  | 13,249
Close family of the Company’s Chairman | ​ | 29 | ​ | — | ​ | —
​ |  | 23,749 |  | 6,496 |  | 13,249
​
| (c) | Borrowing ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year ended
​ | ​ | September 30,
​ | ​ | 2022 |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB | ​ | RMB
Shareholders (i) |  | 2,682 |  | 3,229 |  | 935
​ |  | 2,682 |  | 3,229 |  | 935
Note (i) : The borrowing interest rate is from 5.8% to 10% and repayable on demand. ​
| (d) | Interest accrual
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year ended
​ | ​ | September 30,
​ | ​ | 2022 |  | 2023 |  | 2024
​ | ​ | RMB | ​ | RMB | ​ | RMB
NCI |  | 272 |  | 468 |  | 444
​ |  | 272 |  | 468 |  | 444
​

X
- References No definition available. + Details
Name: | us-gaap_RelatedPartyTransactionsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for related party transactions. 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/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-5 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480990/946-20-50-6 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477968/946-235-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(g)(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(c)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(e)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/850/tableOfContent Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-6 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483326/850-10-50-1 + Details
Name: | us-gaap_RelatedPartyTransactionsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration