Origin Agritech Limited (SEED) Balance Sheet

NASDAQ: SEEDAssets, liabilities, debt and equity over 10 years.

SEED balance sheet, FY2025

September 30, 2025 · Chinese yuan

CN¥100.6M assets = CN¥162.2M liabilities + −CN¥61.5M equity

Liabilities exceed assets: shareholders’ equity is negative (−CN¥61.5M).

Both columns are drawn to the same scale: what SEED owns equals what it owes plus shareholders’ equity. Hover a block for its value.

SEED financial health

Current ratio0.44

Tight · current assets cover current liabilities 0.44×

Equity / assets−23.2%

Thin equity · of assets funded by shareholders

Cash / debt60.8%

Partial cover · cash & short-term investments vs total debt

Goodwill & intangibles2.1%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal FY2025.

SEED balance sheet trends, FY2016–FY2025

Origin Agritech Limited balance sheet trends
Metric	Then	Latest	Change
Total assets	CN¥880.6MFY2016	CN¥100.6MFY2025	−21.4%/yr
Total liabilities	CN¥662.0MFY2016	CN¥162.2MFY2025	−14.5%/yr
Shareholders’ equity	CN¥180.3MFY2016	−CN¥23.3MFY2025	—
Cash & short-term investments	CN¥54.5MFY2016	CN¥15.9MFY2025	−12.8%/yr
Total debt	CN¥237.1MFY2016	CN¥26.1MFY2025	−21.7%/yr
Net cash (debt)	−CN¥182.5MFY2016	−CN¥10.3MFY2025	+CN¥172.3M
Working capital	−CN¥136.4MFY2016	−CN¥83.3MFY2025	+CN¥53.1M
Current ratio	0.78FY2016	0.44FY2025	−0.34
Debt / equity	1.31FY2016	1.03FY2017	−0.29
Shares outstanding	2.3MFY2016	7.5MFY2025	+14.1%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

SEED assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

SEED liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

SEED debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

SEED balance sheet in Chinese yuan

Origin Agritech Limited annual balance sheet
	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Assets
Cash & short-term investments	CN¥15.9M	CN¥8.4M	CN¥23.7M	CN¥17.7M	CN¥15.4M	CN¥22.5M	CN¥3.2M	CN¥2.0M	CN¥3.2M	CN¥54.5M
Cash & equivalents	CN¥15.9M	CN¥8.4M	CN¥23.7M	CN¥17.7M	CN¥15.4M	CN¥22.5M	CN¥3.2M	CN¥2.0M	CN¥3.2M	CN¥54.5M
Short-term investments	—	—	CN¥1	—	—	—	CN¥0	CN¥0	CN¥0	CN¥0
Receivables	CN¥13.6M	CN¥12.7M	CN¥854,000	CN¥28.7M	CN¥16.1M	CN¥25.4M	CN¥35.4M	CN¥129.5M	CN¥56.0M	CN¥491,000
Inventory	CN¥14.4M	CN¥12.9M	CN¥13.0M	CN¥2.1M	CN¥4.2M	CN¥13.6M	CN¥28.5M	CN¥81.9M	CN¥1.2M	CN¥368.1M
Other current assets	CN¥22.2M	CN¥65.8M	CN¥104.2M	CN¥33.0M	CN¥22.5M	CN¥2.9M	CN¥2.1M	CN¥1.4M	CN¥28.6M	CN¥55.0M
Total current assets	CN¥66.1M	CN¥99.7M	CN¥141.8M	CN¥81.5M	CN¥58.1M	CN¥64.4M	CN¥69.2M	CN¥214.9M	CN¥89.1M	CN¥478.1M
Property, plant & equipment (net)	CN¥32.5M	CN¥28.6M	CN¥21.9M	CN¥47.9M	CN¥50.6M	CN¥117.7M	CN¥149.1M	CN¥0	CN¥144.8M	CN¥313.7M
Goodwill & intangible assets	CN¥2.1M	CN¥3.2M	CN¥3.3M	CN¥4.8M	CN¥5.6M	CN¥14.4M	CN¥18.4M	CN¥24.9M	CN¥29.6M	CN¥67.6M
Long-term investments	CN¥0	CN¥0	CN¥66.6M	CN¥1.7M	CN¥4.6M	CN¥10.4M	CN¥16.3M	CN¥16.3M	CN¥18.7M	CN¥18.7M
Other non-current assets	CN¥0	CN¥0	CN¥4.9M	CN¥0	CN¥83,000	CN¥48.0M	CN¥8.0M	CN¥173.9M	CN¥41.9M	CN¥2.4M
Total assets	CN¥100.6M	CN¥131.6M	CN¥238.5M	CN¥136.0M	CN¥119.0M	CN¥254.9M	CN¥261.1M	CN¥430.1M	CN¥324.1M	CN¥880.6M
Liabilities
Accounts payable	CN¥12.1M	CN¥8.5M	CN¥4.9M	CN¥10.2M	CN¥9.2M	CN¥9.6M	CN¥9.7M	CN¥8.0M	CN¥1.5M	CN¥1.3M
Short-term debt	CN¥23.8M	CN¥5.0M	CN¥128,470	CN¥137.8M	CN¥138.2M	CN¥559,000	CN¥78.6M	CN¥78.2M	CN¥58.8M	CN¥217.1M
Deferred revenue	CN¥47.2M	CN¥78.7M	CN¥114.8M	CN¥61.4M	CN¥46.8M	CN¥66.4M	CN¥62.6M	—	CN¥4.8M	CN¥215.9M
Total current liabilities	CN¥149.3M	CN¥184.3M	CN¥313.5M	CN¥292.9M	CN¥286.4M	CN¥176.9M	CN¥247.8M	CN¥432.2M	CN¥134.1M	CN¥614.5M
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥137.7M	CN¥0	CN¥0	CN¥56.8M	CN¥20.0M
Lease obligations	CN¥2.6M	CN¥128,000	CN¥241,000	CN¥1.6M	CN¥3.1M	CN¥3.2M	CN¥0	CN¥0	CN¥0	CN¥0
Other long-term liabilities	CN¥12.8M	CN¥5.9M	CN¥6.3M	CN¥15.7M	CN¥18.3M	CN¥25.7M	CN¥28.8M	CN¥21.3M	CN¥20.5M	CN¥27.5M
Total liabilities	CN¥162.2M	CN¥190.2M	CN¥319.8M	CN¥308.6M	CN¥304.6M	CN¥340.3M	CN¥276.6M	CN¥453.4M	CN¥211.3M	CN¥662.0M
Shareholders' equity
Common stock & paid-in capital	—	—	—	—	—	—	CN¥0	CN¥0	CN¥0	CN¥0
Retained earnings (deficit)	−CN¥634.2M	−CN¥580.9M	−CN¥601.6M	−CN¥656.9M	−CN¥650.6M	−CN¥559.1M	−CN¥473.8M	−CN¥411.7M	−CN¥258.1M	−CN¥182.4M
Treasury stock	—	—	—	—	—	—	−CN¥19.2M	−CN¥19.2M	−CN¥22.8M	−CN¥37.4M
Accumulated other comprehensive income	−CN¥23.0M	−CN¥22.8M	−CN¥23.0M	−CN¥22.8M	−CN¥23.2M	−CN¥22.4M	−CN¥23.8M	−CN¥3.0M	−CN¥18.8M	−CN¥11.2M
Minority interest	−CN¥38.2M	−CN¥27.3M	−CN¥23.9M	−CN¥38.8M	—	—	CN¥0	CN¥0	CN¥0	CN¥0
Total shareholders' equity	−CN¥23.3M	−CN¥31.3M	−CN¥57.4M	−CN¥133.9M	−CN¥140.7M	−CN¥77.2M	−CN¥22.7M	−CN¥23.3M	CN¥112.3M	CN¥180.3M
Key figures
Total debt	CN¥26.1M	CN¥5.1M	CN¥241,000	CN¥139.3M	CN¥140.8M	CN¥140.9M	CN¥78.6M	CN¥78.2M	CN¥115.6M	CN¥237.1M
Net cash (debt)	−CN¥10.3M	CN¥3.3M	CN¥23.5M	−CN¥121.6M	−CN¥125.4M	−CN¥118.4M	−CN¥75.4M	−CN¥76.2M	−CN¥112.4M	−CN¥182.5M
Working capital	−CN¥83.3M	−CN¥84.5M	−CN¥171.7M	−CN¥211.3M	−CN¥228.2M	−CN¥112.5M	−CN¥178.6M	−CN¥217.3M	−CN¥45.0M	−CN¥136.4M
Tangible book value	−CN¥25.4M	−CN¥34.5M	−CN¥60.7M	−CN¥138.7M	−CN¥146.3M	−CN¥91.6M	−CN¥41.1M	−CN¥48.3M	CN¥82.7M	CN¥112.6M
Shares outstanding	7.5M	6.5M	6.6M	5.6M	5.6M	5.0M	4.2M	3.2M	2.8M	2.3M
Current ratio	0.44	0.54	0.45	0.28	0.20	0.36	0.28	0.50	0.66	0.78
Quick ratio	0.20	0.11	0.08	0.16	0.11	0.27	0.16	0.30	0.44	0.09
Debt / equity	—	—	—	—	—	—	—	—	1.03	1.31
Equity / assets	−23.2%	−23.8%	−24.1%	−98.5%	−118.2%	−30.3%	−8.7%	−5.4%	34.6%	20.5%

Origin Agritech Limited quarterly balance sheet
	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23	Jun '23
Assets
Cash & short-term investments	CN¥13.4M	CN¥13.4M	CN¥15.9M	CN¥15.9M	CN¥2.4M	CN¥2.4M	CN¥8.4M	CN¥8.4M	CN¥10.4M	CN¥10.4M	CN¥23.7M	CN¥23.7M
Cash & equivalents	CN¥13.4M	CN¥13.4M	CN¥15.9M	CN¥15.9M	CN¥2.4M	CN¥2.4M	CN¥8.4M	CN¥8.4M	CN¥10.4M	CN¥10.4M	CN¥23.7M	CN¥23.7M
Receivables	CN¥10.7M	CN¥4.7M	CN¥3.5M	CN¥3.5M	CN¥14.6M	CN¥5.8M	CN¥4.0M	CN¥5.0M	CN¥5.1M	CN¥5.1M	CN¥839,000	CN¥854,000
Inventory	CN¥24.8M	CN¥34.1M	CN¥14.4M	CN¥36.6M	CN¥9.3M	CN¥42.7M	CN¥12.9M	CN¥75.7M	CN¥40.4M	CN¥40.4M	CN¥13.0M	CN¥23.0M
Other current assets	CN¥11.9M	CN¥8.6M	CN¥32.3M	CN¥10.1M	CN¥36.0M	CN¥11.4M	CN¥74.5M	CN¥10.7M	CN¥68.0M	CN¥68.0M	CN¥104.2M	CN¥94.2M
Total current assets	CN¥60.8M	CN¥60.8M	CN¥66.1M	CN¥66.1M	CN¥62.3M	CN¥62.3M	CN¥99.7M	CN¥99.7M	CN¥123.8M	CN¥123.8M	CN¥141.8M	CN¥141.8M
Property, plant & equipment (net)	CN¥29.3M	CN¥29.3M	CN¥32.5M	CN¥32.5M	CN¥23.2M	CN¥23.2M	CN¥28.6M	CN¥28.6M	CN¥23.2M	CN¥23.2M	CN¥21.9M	CN¥21.9M
Goodwill & intangible assets	CN¥2.4M	CN¥2.4M	CN¥2.1M	CN¥2.1M	CN¥1.7M	CN¥1.7M	CN¥3.2M	CN¥3.2M	CN¥3.2M	CN¥3.2M	CN¥3.3M	CN¥3.3M
Long-term investments	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥67.5M	CN¥0	CN¥66.6M	CN¥0
Other non-current assets	CN¥0	CN¥0	CN¥0	CN¥1	CN¥1.6M	CN¥1.6M	CN¥0	CN¥0	CN¥5.6M	CN¥73.1M	CN¥4.9M	CN¥71.5M
Total assets	CN¥92.6M	CN¥92.6M	CN¥100.6M	CN¥100.6M	CN¥88.7M	CN¥88.7M	CN¥131.6M	CN¥131.6M	CN¥223.4M	CN¥223.4M	CN¥238.5M	CN¥238.5M
Liabilities
Accounts payable	CN¥14.1M	CN¥18.7M	CN¥12.1M	CN¥18.0M	CN¥9.8M	CN¥17.1M	CN¥8.5M	CN¥16.7M	CN¥11.3M	CN¥14.8M	CN¥4.9M	CN¥10.3M
Short-term debt	CN¥29.1M	CN¥46.6M	—	CN¥42.6M	CN¥21.7M	CN¥32.5M	—	CN¥36.1M	CN¥128,634	CN¥113,000	—	CN¥4.3M
Deferred revenue	CN¥38.9M	CN¥47.2M	—	—	CN¥43.6M	CN¥78.7M	—	—	CN¥84.7M	CN¥114.8M	—	—
Total current liabilities	CN¥155.6M	CN¥155.6M	CN¥149.3M	CN¥149.3M	CN¥145.7M	CN¥145.7M	CN¥184.3M	CN¥184.3M	CN¥293.7M	CN¥293.7M	CN¥313.5M	CN¥313.5M
Long-term debt	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0	CN¥0
Lease obligations	CN¥17,000	—	CN¥2.6M	—	CN¥128,000	—	CN¥128,000	—	CN¥241,000	—	CN¥241,000	—
Other long-term liabilities	CN¥12.5M	CN¥12.5M	CN¥12.8M	CN¥12.8M	CN¥5.7M	CN¥5.7M	CN¥5.9M	CN¥5.9M	CN¥6.1M	CN¥6.1M	CN¥6.3M	CN¥6.3M
Total liabilities	CN¥168.1M	CN¥168.1M	CN¥162.2M	CN¥162.2M	CN¥151.4M	CN¥151.4M	CN¥190.2M	CN¥190.2M	CN¥299.8M	CN¥299.8M	CN¥319.8M	CN¥319.8M
Shareholders' equity
Retained earnings (deficit)	−CN¥648.6M	−CN¥648.6M	−CN¥634.2M	−CN¥634.2M	−CN¥606.4M	−CN¥606.4M	−CN¥580.9M	−CN¥580.9M	−CN¥600.2M	−CN¥600.2M	−CN¥601.6M	−CN¥601.6M
Accumulated other comprehensive income	−CN¥23.0M	−CN¥23.0M	—	−CN¥23.0M	−CN¥23.1M	−CN¥23.1M	—	−CN¥22.8M	−CN¥22.9M	−CN¥22.9M	—	−CN¥23.0M
Minority interest	−CN¥37.9M	—	−CN¥38.2M	—	—	—	—	—	—	—	—	—
Total shareholders' equity	−CN¥37.7M	−CN¥37.7M	−CN¥23.3M	−CN¥23.3M	−CN¥31.2M	−CN¥31.2M	−CN¥31.3M	−CN¥31.3M	−CN¥55.9M	−CN¥55.9M	−CN¥57.4M	−CN¥57.4M
Key figures
Total debt	CN¥29.1M	CN¥46.6M	—	CN¥45.0M	CN¥21.7M	CN¥32.6M	—	CN¥36.1M	CN¥241,000	CN¥241,000	—	CN¥241,000
Net cash (debt)	−CN¥15.7M	−CN¥33.2M	—	−CN¥29.1M	−CN¥19.3M	−CN¥30.2M	—	−CN¥27.8M	CN¥10.2M	CN¥10.2M	—	CN¥23.5M
Working capital	−CN¥94.8M	−CN¥94.8M	−CN¥83.3M	−CN¥83.3M	−CN¥83.4M	−CN¥83.4M	−CN¥84.5M	−CN¥84.5M	−CN¥169.8M	−CN¥169.8M	−CN¥171.7M	−CN¥171.7M
Tangible book value	−CN¥40.1M	−CN¥40.1M	−CN¥25.4M	−CN¥25.4M	−CN¥32.8M	−CN¥32.8M	−CN¥34.5M	−CN¥34.5M	−CN¥59.2M	−CN¥59.2M	−CN¥60.7M	−CN¥60.7M
Shares outstanding	7.5M	11.9M	11.9M	7.8M	7.2M	7.2M	6.3M	6.6M	6.3M	6.3M	6.0M	6.9M
Current ratio	0.39	0.39	0.44	0.44	0.43	0.43	0.54	0.54	0.42	0.42	0.45	0.45
Quick ratio	0.15	0.12	0.13	0.13	0.12	0.06	0.07	0.07	0.05	0.05	0.08	0.08
Equity / assets	−40.7%	−40.7%	−23.2%	−23.2%	−35.1%	−35.1%	−23.8%	−23.8%	−25.0%	−25.0%	−24.1%	−24.1%

Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed January 30, 2026); data from EODHD.

SEED financial position

At the end of fiscal 2025 (September 30, 2025), Origin Agritech had total assets of CN¥100.6 million (down 23.5% from a year earlier), total liabilities of CN¥162.2 million and shareholders' equity of -CN¥23.3 million. It held CN¥15.9 million in cash and short-term investments against CN¥26.1 million of debt, net debt of CN¥10.3 million. Its current ratio was 0.44. In the latest quarter (ended March 31, 2026) total assets were CN¥92.6 million and equity -CN¥37.7 million.

Related: SEED income statement, SEED cash flow statement, SEED key metrics. See the SEED stock overview for the latest quote and news.

SEED balance sheet FAQ

What are Origin Agritech's total assets?

Origin Agritech reported total assets of CN¥100.6 million at the end of fiscal 2025 (September 30, 2025), compared with CN¥131.6 million a year earlier.

How much debt does Origin Agritech have?

Origin Agritech had CN¥26.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.

How much cash does Origin Agritech have?

Origin Agritech held CN¥15.9 million in cash and short-term investments at the end of fiscal 2025; with CN¥26.1 million of debt that is net debt of CN¥10.3 million.

What is Origin Agritech's book value?

Origin Agritech's shareholders' equity (book value) was -CN¥23.3 million at the end of fiscal 2025.

What is Origin Agritech's current ratio?

Origin Agritech had current assets of CN¥66.1 million and current liabilities of CN¥149.3 million, a current ratio of 0.44 (current liabilities exceed current assets).

How much goodwill does Origin Agritech have?

Origin Agritech carried CN¥2.1 million of goodwill and intangible assets, 2.1% of total assets, at the end of fiscal 2025.