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ORGANIZATION AND PRINCIPAL ACTIVITIES (Tables) | 12 Months Ended
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Sep. 30, 2024
ORGANIZATION AND PRINCIPAL ACTIVITIES |
Schedule of company's subsidiaries and variable interest entities included in continuing operations | As of September 30, 2024, 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
​ | ​ |  |  |  |  |  |  |
Subsidiary held by OAL SMY: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beijing Aoyu Science Development Co. Ltd (“Beijing Aoyu”) | ​ | October 10, 2023 | ​ | PRC | ​ | 100 | % | Hybrid seed technology development
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beijing Origin State Harvest Biotechnology Limited (“Origin Biotechnology”) | ​ | December 1, 2004 |  | People’s Republic of China (“PRC”) |  | 100 | % | Hybrid seed technology development
​ | ​ |  |  |  |  |  |  |
Variable interest entities: | ​ |  |  |  |  |  |  |
Hainan Aoyu Biotechnology Limited(Hainan Aoyu) | ​ | March 2, 2022 | ​ | PRC | ​ | 100 | % | Hybrid crop seed development, production and distribution
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Henan Baodao Origin Agriculture and Animal Husbandry Co., Ltd (“Baodao Origin”) | ​ | Nov 23, 2022 | ​ | PRC | ​ | 51 | % | Agricultural seed products distribution
​ | ​ |  |  |  |  |  |  |
Subsidiaries held by Hainan Aoyu: | ​ |  |  |  |  |  |  |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Xinjiang Originbo Seed Company Limited (note) (“Xinjiang Originbo”) | ​ | July 13, 2011 |  | PRC |  | 70.52 | % | Hybrid crop seed development, production and distribution
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beijing Origin Agriculture Limited (“Origin Agriculture”) | ​ | August 9, 2024 | ​ | PRC | ​ | 100 | % | Hybrid crop seed development, production and distribution
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subsidiary held by Baodao Origin: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shihezi Baodao Agriculture and Animal Husbandry Technology Co., Ltd | ​ | March 8, 2023 | ​ | PRC | ​ | 100 | % | Agricultural seed and feed products distribution
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Subsidiaries held by Origin Biotechnology: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Shandong Aoruixinong Agricultural Technology Limited (Shandong Aoruixinong) | ​ | September 27, 2019 | ​ | PRC | ​ | 51 | % | Agricultural seed products distribution
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Hubei Aoyu Zhongye Limited (Hubei Aoyu) | ​ | October 22, 2018 | ​ | PRC | ​ | 51 | % | Agricultural seed products distribution
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Anhui Aoyu Zhongye Limited (Anhui Aoyu) | ​ | July 25, 2018 | ​ | PRC | ​ | 50 | % | Agricultural seed products distribution
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Xuzhou Aoyu Zhongye Limited (Xuzhou Aoyu) | ​ | September 25, 2018 | ​ | PRC | ​ | 51 | % | Agricultural seed products distribution
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Henan Aoyu Zhongye Limited (note (i)) (“Henan Aoyu”) | ​ | July 16, 2018 | ​ | PRC | ​ | 51 | % | Agricultural seed products distribution
​
Schedule of variable interest entities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30,
​ | ​ | 2023 | ​ | 2024 | ​ | 2024
​ |  | RMB |  | RMB | ​ | US$
ASSETS | ​ | ​ | ​ | ​ | ​ | ​
Current Assets | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents | ​ | 2,142 | ​ | 1,415 | ​ | 202
Accounts receivable, net | ​ | 189 | ​ | 1,280 | ​ | 183
Advances to suppliers |  | 64,502 |  | 52,714 | ​ | 7,523
Inventories |  | 2,511 |  | 1,343 | ​ | 192
Other current assets |  | 929 |  | 276 | ​ | 39
Total current assets |  | 70,273 |  | 57,028 | ​ | 8,139
Land use rights, net |  | — |  | 3,192 | ​ | 456
Plant and equipment, net |  | 18,771 |  | 28,279 | ​ | 4,036
Equity investments |  | 130,541 |  | 144,541 | ​ | 20,627
Other assets |  | 1,192 |  | — | ​ | —
Total assets |  | 220,777 |  | 233,040 | ​ | 33,258
LIABILITIES |  | ​ |  | ​ | ​ | ​
Current liabilities |  | ​ |  | ​ | ​ | ​
Short-term borrowings |  | — |  | 4,950 | ​ | 706
Current portion of long-term borrowings |  | — |  | — | ​ | —
Accounts payable |  | 318 |  | 6,595 | ​ | 941
Due to growers | ​ | 404 | ​ | — | ​ | —
Due to related parties |  | 6,205 |  | 9,894 | ​ | 1,412
Advances from customers | ​ | 76,936 | ​ | 46,758 | ​ | 6,673
Other payables and accrued expenses |  | 1,266 |  | 11,884 | ​ | 1,696
Total current liabilities |  | 85,129 |  | 80,081 | ​ | 11,428
Other long-term liability |  | 6,177 |  | 5,813 | ​ | 830
Total liabilities |  | 91,306 |  | 85,894 | ​ | 12,258

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-5A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-9 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-6 + Details
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