China New Borun Corp (BORN)

China New Borun Corporation was incorporated in the Cayman Islands. The Company is a producer and distributor of corn-based edible alcohol in the People's Republic of China based on tons of edible alcohol produced. The Company's edible alcohol products are mainly sold as an ingredient to producers of baijiu who further blend its products into finished products sold under various brand names throughout China. 'Baijiu' is a grain-based alcoholic beverage, generally made from corn, wheat or barley, clear in color, with alcohol content ranging from 18% to 68%. Baijiu is sold throughout China in retail stores, bars, banquet halls, restaurants and other locations where alcoholic beverages are typically consumed. Baijiu is consumed in almost all the occasions in China where alcoholic beverages are desirable, from daily residential consumption, gatherings of family and friends, business and social occasions, to the Chinese Spring Festival celebrations. In China, consumption of baijiu is generally associated with a higher standard of living, and consumption of baijiu has grown with the expansion of the PRC economy. It currently owns and operates two facilities: one in Shouguang, Shandong Province and the other in Daqing, Heilongjiang Province. The Company's Shouguang facility occupies a site area of roughly 102,909.28 square meters and has an annual production capacity of approximately 160,000 tons of corn-based edible alcohol. The Company's Daqing facility occupies a site area of roughly 219,156 square meters and currently has an annual production capacity of approximately 100,000 tons of corn-based edible alcohol. It intends to sell its edible alcohol to western and southern provinces such as Sichuan and Guizhou Province. The Company's major competitors include the other top 10 edible alcohol producers in China such as Jilin New Tian Long, COFCO Zhaodong, Meihekou Fukang and Lianyungang Dongcheng. It is subject to the PRC laws and regulations relating to the protection of the environment.