Origin Agritech announced new strategic directions

March 16th, 2018

BVI-registered agricultural biotechnology company Origin Agritech Ltd. announced the new strategic directions set by the newly appointed Chief Executive Officer Dr. Z. James Chen. Among the key strategic directions which were discussed there are e-commerce development for the vast farmland in China, foundation corn seed technology business development, and further development of biotech and genome editing seed technologies.

Dr. Gengchen Han, Chairman of Origin Agritech, commented on the new announcement: “We believe the new strategic directions set by the new management team represents the key technology and market advantages built over the last two decades and we trust we can build new businesses while waiting for the final commercialization approval of agribiotech technology in China… the new management team’s new strategic directions have full support from our board and we look forward to new Origin post commercial seed business divestiture”

BVI company received Cloud-based Ad Terminal Order for Guangxi Autonomous Region

March 9th, 2018

China Information Technology, Inc., the BVI-incorporated company providing internet-based ad distribution and ad display terminal sharing systems in China, entered into a contract for the sale of 1,500 cloud-based ad terminals to be installed in office buildings and residential communities in Yulin, which is one of the political and economic centers of Guangxi Autonomous Region.

The contract signed with Yulin Taoping IoT Technology Limited is expected to generate sales and service revenue to CNIT of about $0.5mln. This is the second contract of BVI company’s cloud-based terminal for Guangxi region, which followed the $1mln order received in November 2017, and the twenty-second contract on the sale of CNIT’s cloud-based ad terminals since May 2017. Each sale is expected to generate recurring service and commission revenue from customers’ use of Company’s Yunfa advertising distribution system and Taoping Net/App ad screen sharing platform.

BVI company’s CEO and Chairman Mr. Jianghuai Lin said in his comments: “With successful execution of our market strategy in the prior year, proven track record and the new addition of our Taoping new-media ecosystem, CNIT is currently experiencing accelerated market demands for our cloud-based ad terminals and solutions.”

BVI-registered retail brand and Raiffeisenbank launched co-branded bank card

February 28th, 2018

Lenta Ltd., BVI-domiciled company operating one of the largest retail chains in Russia, announced the start of co-branded loyalty programme with AO Raiffeisenbank. Visa bank card launched by Lenta and Raiffeisenbank combines the existing loyalty programme benefits and the bank’s bonus point cashbacks. The card provides guaranteed 5% discount on all purchases, and allows the customer to earn bonus points.

The new co-branded cards will be issued by Lenta’s in-store information desks, without service fee throughout its effective period, as long as being issued in a Lenta store. By words of Lenta’s Chief Marketing Officer Bert Vukkink, the goal of the company is to “constantly improve customer experience, and launching this co-branding project with Raiffeisenbank is another important step in that direction.”

Origin Agritech and Elastos Foundation announced co-operation plan

February 17th, 2018

Origin Agritech Limited, an agricultural biotechnology company headquartered in China and domiciled in the British Virgin Islands, and Elastos Foundation, which aims to create a new Internet system powered by blockchain technologies, announced their plan to develop a global strategic partnership. The purpose of the partnership is joint activities fostering smart economic solutions.

Origin Agritech has been developing a system for seed tracking and e-commerce solutions in order to provide the best seed technologies to Chinese farmers. Origin and Elastos had several years of trial experience when Elastos assisted the BVI company in developing its e-commerce platform, and now the companies believe that the formal co-operation in developing the platform based in Elastos’ Smart Web technologies would provide great service to global agribusiness transactions, data services, and rural e-commerce activities. The platform is expected to solve seed piracy problems and protect agricultural seed intellectual properties.

Both companies agreed that the founder of Elastos Mr. Rong Chen will join BVI company’s board, and Dr. Gengchen Han, chairman of Origin, will serve Elastos as an advisor. The companies also agreed on mutual investments.