China New Borun Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenues of RMB 570,925,219 compared to RMB 625,731,081 a year ago. Operating income was RMB 46,219,683 compared to RMB 78,777,323 a year ago. Income before income taxes was RMB 21,047,966 compared to RMB 52,422,130 a year ago. Net income was RMB 15,785,974 or RMB 0.61 per basic and diluted share compared to RMB 39,316,597 or RMB 1.53 per basic and diluted share a year ago. The decrease in revenue was mainly due to the decrease in the average selling price in edible alcohol and its by-products and lower sales volume in by-products.

The company provided earnings guidance for the second quarter of 2015. The Company estimates that its revenue for the second quarter of 2015 will be in the range of RMB 620 million to RMB 660 million, a decrease of approximately 1.3% to a decrease of 7.3% over the same quarter of 2014.