China New Borun Corporation (New Borun) 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 primarily sold as an ingredient to producers of baijiu, who further blend the Company�s products into finished products sold under various brand names throughout China. Baijiu is a grain-based alcoholic beverage 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 consumed. The Company Daqing facility is licensed to build up to 330,000 tons of production capacity of edible alcohol.