China New Borun Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company's total revenue increased 25.0% to RMB 661.4 million from RMB 529.2 million in the third quarter of 2014. The increase in revenue was mainly attributable to higher sales volume in edible alcohol and its by-products. Net income increased 272.9% to RMB 21.8 million from RMB 5.8 million in the third quarter of 2014. Basic and diluted earnings per share was RMB 0.85 compared with RMB 0.23 a year ago. Operating income increased by 50.5% to RMB 50.7 million in the third quarter of 2015, from RMB 33.7 million in the same period of 2014, primarily attributable to higher gross profit earned. Income before income taxes was RMB 29.1 million compared with RMB 7.8 million a year ago. The company reported operating cash flows of RMB 624 million, which nearly doubled its cash balance to almost one billion RMB. Driven by recovering trends in China's baijiu industry, its third quarter's revenue grew 25%, and net income nearly tripled year-over-year.

For the nine months, the company's revenues were RMB 1.95 million compared with RMB 1.82 million a year ago. Operating income was RMB 169.3 million compared with RMB 167.8 million a year ago. Income before income taxes was RMB 100.9 million compared with RMB 88.2 million a year ago. Net income was RMB 75.7 million or RMB 2.94 per basic and diluted share compared with RMB 66.1 million or RMB 2.57 per basic and diluted share a year ago.

The company estimates that its revenue for the fourth quarter of 2015 will be in the range of RMB 650 million to RMB 700 million, an increase of approximately 6.6% to 14.8% over the same quarter of 2014.