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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Sep. 30, 2024

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of liquidity and going concern

​

​	​	​	​	​
​		2023		2024
​	​	RMB	​	RMB
The Company incurred net income of		62,669	​	18,678
The Company incurred negative operating activities of		5,456	​	15,031
Working capital deficit	​	171,679	​	84,535
Accumulated deficit	​	601,566	​	580,854
Shareholders’ deficit		81,260	​	58,599

Schedule of estimated useful lives of assets

​

Plant and building	20-40 years
Machinery, equipment and others	10-15 years
Furniture and office equipment	5-8 years
Motor vehicles	5-10 years

Schedule of estimated useful lives of intangible assets

​

Technology rights for licensed seeds	3-20 years
Distribution network	6-14 years

Summary of reconciliation of contract liabilities

​

​	​	​
​		Contract liabilities
​	​	RMB
30 September 2021		45,754
Derecognition of contract liability		(2,031)
Customer prepayments		65,539
Revenue recognized		(48,711)
30 September 2022		60,551
Derecognition of contract liability		(772)
Customer prepayments		142,719
Revenue recognized		(87,692)
30 September 2023		114,806
Derecognition of contract liability		(1,410)
Customer prepayments		71,757
Revenue recognized		(106,459)
30 September 2024		78,694

Schedule of government subsidies

​

​	​	​	​	​	​	​
​		2022		2023		2024
Government subsidies received		—		1,145	​	510
Government subsidies recognized as other income		1,486		2,270	​	364

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Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

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