CHINA NEW BORUN

China New Borun Corporation ("Borun") is a leading producer and distributor of corn-based edible alcohol in the People's Republic of China based on tons of edible alcohol produced. Borun currently owns and operates two facilities, one in Shouguang, Shandong province and the other in Daqing, Heilongjiang province. These locations have a stable supply and lower cost of corn, our primary raw material. Our Shouguang facility occupies a site area of 183,565.81 square meters, has 481 full-time employees and an annual production capacity of 160,000 tons of corn-based edible alcohol. Our Daqing facility occupies a site area of 219,156 square meters, has 563 full-time employees and is licensed to produce 330,000 tons of corn-based edible alcohol.