Business: China New Borun Corporation ("Borun"), founded in 2000, through their subsidiaries, is one of the largest corn-based edible alcohol producers in the PRC. Borun’s alcohol is a primary ingredient in baijiu, an alcoholic beverage consumed on almost all appropriate occasions and associated with a high standard of living. Borun is able to produce up to 490,000 tons of edible alcohol per year in two facilities in Shouguang, Shandong Province, and Daqing, Heilongjiang Province. According to Frost & Sullivan, Borun is the largest private corn-based edible alcohol producer in both Shandong and Heilongjiang provinces, and their market dominance will increase further when they finish building out capacity in their Daqing facility.