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.