Shares of Yuan Longping High-tech Agriculture Co (Longping High-tech), a Chinese seed firm named after Yuan Longping, who is revered as China’s Father of Hybrid Rice, surged by more than 4 percent on Monday as stock investors paid tribute to the famed agriculturist who passed away on Saturday.
The company’s stock price surged by 10.01 percent to 18.8 yuan ($2.92) at opening on Monday, before edging down to some extent. As of press time the company’s stock price stood at 17.83 yuan, up 4.33 percent.
Yuan served as the company’s honorary chairman, while CITIC Group is its largest shareholder. The company’s main businesses are seed operation and agricultural services.
Mourning for Yuan continued on Saturday and Sunday as people commemorated the nation’s “food hero” who made tremendous contribution to the country’s agricultural industry. On Sunday and Monday, many residents went to pay tribute to Yuan in front of the Funeral Home in Changsha, Central China’s Hunan Province, placing flowers and leaving thank-you notes on site.
Apart from Longping High-tech, some other agricultural and seed companies also recorded share price jumps on Monday. Shares of seed processor Gansu Dunhuang Seed Co rose by 2.65 percent, while seed company Hainan Shennong Gene Technology Co saw shares rise by 1.10 percent as of press time.
Students present flowers in front of a statue of Yuan Longping at Southwest University in southwest China’s Chongqing on Sunday. Yuan, renowned for developing the first hybrid rice strain that relieved countless people of hunger, died of organ failure at 91 on Saturday. Yuan graduated from the Southwest Agricultural College (now the Southwest University) in 1953. Photo: cnsphoto
