China New Borun Announces Opening of Daqing Phase III Facility

BEIJING, Jan. 24, 2011 /PRNewswire-Asia-FirstCall/ -- China New Borun Corporation (NYSE: BORN; "Borun" or the "Company"), a leading producer and distributor of corn-based edible alcohol in China, announces the opening of Borun's Daqing Phase III facility. The opening ceremony featured dignitaries from government officials, Borun's customers, investors and analysts, as well as Borun's senior management team.

Commenting on the announcement, Mr. Jinmiao Wang, Chairman and Chief Executive Officer of Borun, said, "We are very excited about the opening of our Daqing Phase III facility, and we are very appreciative of the broad support from Daqing's local government, as well as our customers, suppliers, investors, and employees in making our opening ceremony a great success, despite the frigid Daqing winter weather.  We are very pleased that the completion of our Phase III facility was on schedule, and we have already won pre-sale letters of intent for approximately 90% of our expanded production capacity. The edible alcohol market in China continues to grow at a rapid pace, and given our leading brand name in the market and our nearly 50% higher capacity to 380,000 tons per annum, we are well positioned to meet such growing demand.

Mr. Wang continued, "We are also excited that the full operation of our Daqing Phase III facility will enable us to further expand our customer base and increase our by-products offering. In addition to our existing by-products, DDGS, corn germ, and liquid carbon dioxide, we will have one newly- introduced by-product, crude corn oil, after the opening of Daqing Phrase III facility. With our expanded capacity and by-products offering, we are confident that Borun can deliver strong revenue and profit growth in 2011, and we continue to march ever closer towards our goal of becoming the largest producer and distributor of corn-based edible alcohol in China."

Investors may visit China New Borun's Website for additional information on the opening of the Daqing Phase III facility.

About China New Borun Corporation

China New Borun Corporation (NYSE: BORN) is a leading producer and distributor of corn-based edible alcohol in China.  Borun's edible alcohol products are primarily sold as an ingredient to producers of baijiu, a popular grain-based alcoholic beverage that is sold throughout China in retail stores, restaurants and bars. The Company also produces DDGS Feed, Corn Germ and liquid carbon dioxide as by-products of edible alcohol production.  China New Borun is based in Shouguang, Shandong Province. Additional information about the company can be found at http://www.chinanewborun.com and in documents filed with the U.S. Securities and Exchange Commission, which are available on the SEC's website at www.sec.gov.

Forward-looking Statements

All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our products, industry and business, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. Actual results, events and performance may differ materially from those presented herein. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to update these forward-looking statements as a result of events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

SOURCE China New Borun Corporation

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