China New Borun Corporation is a producer and distributor of corn-based edible alcohol in the PRC based on tons of edible alcohol produced. The Company’s business consists of three reportable segments: Corn-base edible alcohol and its by-products, CPE and Foam insulation. The Company produces its edible alcohol through the distillation of fermented corn. CPE products being special synthetic rubber are widely used as raw materials. Foam insulation offers substantial benefits, such as heat insulation, anti-corrosion and oil resistance, and is widely used in a range of industries and products, including construction, textile, pharmaceutical chemicals, metallurgy, refrigeration facilities, electromechanical equipment, and fire retardants.