Origin Agritech set for best day in six months on annual forecast

Origin Agritech

07/02/2022 12:47

** Shares of Chinese agricultural technology co  SEED.O 
jump 13% to $5.37 premarket, set for best session in six months
    ** Co sees FY2022 revenue quadrupling to over 150 mln yuan,
expects to turn a profit  urn:newsml:reuters.com:*:nPn51nXkWa
    ** Says upgraded forecast driven by growth in its hybrid
seed business, additional revenue from selling nutritionally
enhanced crops to feedstock companies
    ** Co increasing production capabilities for next planting
season as it expects demand to continue 
    ** Stocks down 34% YTD, as of last close
    

 (Reporting by Susan Mathew)
 ((susan.mathew@thomsonreuters.com))