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LONG TERM INVESTMENTS | 12 Months Ended
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Sep. 30, 2024
LONG TERM INVESTMENTS |
LONG TERM INVESTMENTS | 9. LONG TERM INVESTMENTS The Company owns 16.02% equity interest in Jilin Jinong Hi-tech Development Shares Co. Ltd. (“Jinong”) and accounted for the equity investment without readily determinable fair value (previously known as cost method investment) as of September 30, 2023 and 2024. The Company owns 20% equity interest in Nianfeng Minfu (Beijing) Agricultural Science and Technology Development Co., Ltd. (“Nianfeng Minfu”) The Company owns 48.27% equity interest in Beijing Origin which deconsolidated during fiscal year 2023 and changed to equity method investment. In September 2024, the Company disposed off this investment for a net consideration of RMB132.3 million and recorded the gain amounted RMB65 million in consolidated statements of operations and comprehensive income (loss). The carrying amount of this equity accounted investee as on the date of transaction was RMB67.3 million. The Company recorded an impairment on cost method investment of RMB17.2 million, RMB 18.7 million and RMB 18.9 million on its equity investment without readily determinable fair value for the years ended September 30, 2023 and 2024, respectively. The impairment of long-term investment is RMB1.5 and RMB0.2 million. ​
​ | ​ | ​ | ​ | ​
​ | ​ | September 30,
​ | ​ | 2023 | ​ | 2024
​ |  | RMB | ​ | RMB
Cost method investment |  | 18,921 | ​ | 18,921
Equity investment(i) | ​ | 66,448 | ​ | —
Impairment on cost method investment |  | (18,721) | ​ | (18,921)
​ |  | 66,648 | ​ | —
Note (i) : It is represents that the cost method investment amounted RMB 37.66 million and fair value adjustment amounted RMB 28.79 million as of September 30, 2024 disclosed in Note 20. In September 2024, the Company transferred all of its shares in Beijing Origin to BC – TID, which led to decrease in equity investment.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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