China New Borun Corporation (New Borun) is a producer and distributor of corn-based edible alcohol in the People's Republic of China. The Company's edible alcohol products are primarily sold as an ingredient to producers of baijiu who further blend its products into finished products sold under various brand names across China. The Company operates through three segments: Corn-base edible alcohol and its by-products, chlorinated polyethylene (CPE) and Foam insulation. The Company products three grades if edible alcohol, namely, Grade A, Grade B and Grade C. During the production of edible alcohol, the Company also produces distillers dried grains with solubles high-protein feed (DDGS feed), corn germ, crude corn oil and liquid carbon dioxide as by-products which are sold separately from its edible alcohol. New Borun operates two facilities: one in Shouguang, Shandong Province and the other in Daqing, Heilongjiang Province.