Exhibit 99.1

Origin Agritech Limited (“Origin” or the “Company”), an agriculture technology company in China, is filing its unaudited financial results for the first half of FY2023 ended March 31, 2023, prepared in accordance with United States generally accepted accounting principles.

FINANCIAL RESULTS OVERVIEW

The Company reported net revenue of RMB66.1 million (US$9.6 million) during the first half year of FY2023, compared to RMB46.4 million for the first half year of FY2022.

Total operating expenses for the first half year of FY2023 were RMB14.97 million (US$2.2 million), up 4.96% from RMB14.3 million for the same period a year ago. Selling and marketing expenses for the first half year of FY2023 were RMB3.9 million (US$0.6 million), compared to RMB3.5 million a year ago. General and administrative expenses increased 25% to RMB8.3 million (US$ 1.2 million), up from RMB6.6 million a year ago. Research and development expenses for the first half year of FY2023 were RMB2.8 million (US$0.4 million), down 31% from RMB4.1 million a year ago.

Total operating loss for the first half year of FY2023 was RMB0.2 million (US$0.03 million), compared to total operating loss of RMB1.3 million reported a year ago.

There was no interest expense during the first half year of FY2023. The rental income of RMB5.3 million (US$0.8 million) represents that the Company received from renting a portion of its headquarters building in Beijing, PRC.

Net loss attributable to the Company for the first half year of FY2023 was RMB1.1 million (US$0.16 million), compared to the net profit of RMB1.3 million a year ago.

Loss per ordinary share for the first half of FY2023 was RMB0.17 (or US$0.02), compared to the income per share of RMB0.22 during the same period a year ago.

Balance Sheet

As of March 31, 2023, cash and cash equivalents were RMB14.4 million (US$2.1 million), a decrease of RMB3.3million from the cash and cash equivalents of RMB17.7 million as of September 30, 2022.

As of March 31, 2023, the current portion of long-term debt were RMB137.7 million (US$20 million). Advances from customers were RMB26.5 million (US$3.9 million), compared to RMB60.6 million as of September 30, 2022.

As of March 31, 2023, total current assets were RMB74.5 million (US$10.8 million) and non-current assets was RMB53.7 million (US$7.8

million).

As of March 31, 2023, total current liabilities were RMB254.6 million (US$37.1 million).

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (In thousands, except share data)

	Six Months Ended March 31,
	2,022			2,023			2,023
	RMB'000			RMB'000			USD'000
	(unaudited)			(unaudited)			(unaudited)
Revenues		46,367			66,093			9,618
Cost of revenues		(33,411	)		(51,303	)		(7,466	)
Gross profit		12,956			14,790			2,152
Operating expenses:
Selling and marketing		(3,517	)		(3,871	)		(563	)
General and administrative		(6,630	)		(8,260	)		(1,202	)
Research and development		(4,117	)		(2,841	)		(413	)
Total operating expenses, net		(14,264	)		(14,972	)		(2,179	)
Loss from operations		(1,308	)		(182	)		(26	)
Interest expense, net		(105	)		19			3
Rental income		5,302			5,302			772
Other non-operating income (expense), net		189			237			34
Income (loss) before income taxes from operations		4,078			5,376			782
Income tax (expense) benefits		-			(155	)		(23	)
Net income (loss)		4,078			5,221			760
Less: Net income attributable to non-controlling interests		2,798			6,288			915
Net income (loss) attributable to Origin Agritech Ltd.		1,280			(1,067	)		(155	)
Other comprehensive income (loss):
Net loss		4,078			5,221			760
Foreign currency translation difference		(2,197	)		(325	)		(47	)
Comprehensive income (loss)		1,881			4,896			712
Less: Comprehensive loss attributable to non-controlling interests		2,798			6,288			915
Comprehensive loss attributable to Origin		(917	)		(1,392	)		(203	)
Basic and diluted net loss per share attributable to Origin Agritech Limited		0.22			(0.17	)		(0.02	)
Shares used in calculating basic and diluted net income (loss) per share		5,773,094			6,214,744			6,214,744

UNAUDITED CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
	3/31/2022			9/30/2022			3/31/2023
	RMB'000			RMB'000			RMB'000			US$'000
	(unaudited)			(audited)			(unaudited)			(unaudited)
Assets
Current assets:
Cash and cash equivalents		6,506			17,669			14,402			2,096
Restricted cash											-
Accounts receivable		2,445			619			2,296			334
Due from related parties		14,114			28,127			16,283			2,370
Advances to suppliers		4,378			20,022			3,395			494
Advances to growers		-			-			21			3
Inventories		2,392			2,106			11,217			1,632
Other current assets		5,119			12,997			26,893			3,914
Total current assets		34,954			81,540			74,507			10,843
Land use rights, net		1,713			1,792			1,761			256
Plant and equipment, net		47,404			46,389			46,073			6,705
Long-term investment		4,596			1,690			1,690			246
Acquired intangible assets, net		3,382			2,989			2,597			378
Lease Asset		1,784			1,555			1,555			226
Other assets		24			-			-			-
Total assets		93,857			135,955			128,183			18,654
Liabilities, minority interests and shareholders’equity
Current liabilities:
Current portion of long-term borrowings		137,660			137,660			137,660			20,033
Accounts payable		8,688			9,797			6,360			926
Due to growers		6,673			404			404			59
Due to related parties		28,593			18,629			25,918			3,772
Advances from customers		25,828			60,551			26,464			3,851
Income tax payable		731			773			773			112
Lease Liability - current		559			119			119			17
Other payables and accrued expenses		53,067			64,932			56,913			8,284
Total current liabilities		261,799			292,865			254,611			37,054
Lease Liability - noncurrent		2,492			1,501			1,501			218
Other long-term liability		15,717			14,231			14,049			2,044
Total liabilities		280,008			308,597			270,161			39,316
Shareholders’ equity (deficit):
Additional paid-in capital		539,315			551,933			572,126			83,258
Retained deficit		(649,353	)		(656,898	)		(657,965	)		(95,750	)
Treasury stock at cost (20,523 and 20,523 shares as of March 31, 2022 and 2023, respectively)		(6,133	)		(6,133	)		(6,133	)		(893	)
Accumulated other comprehensive loss		(25,418	)		(22,774	)		(23,099	)		(3,361	)
Total shareholders' equity (deficit)		(141,589	)		(133,872	)		(115,071	)		(16,746	)
Noncontrolling interest		(44,562	)		(38,770	)		(26,907	)		(3,916	)
Total equity (deficit)		(186,151	)		(172,642	)		(141,978	)		(20,662	)
Total liabilities and deficit		93,857			135,955			128,183			18,654