Condensed Financial Information of New Borun (Tables)

12 Months Ended

Dec. 31, 2013

Condensed Financial Information of New Borun

CONDENSED BALANCE SHEETS

	As of December 31,
	2012	2013	2013
	(RMB)	(RMB)	($)
ASSETS
Current assets
Cash	5,494	128	21
Amounts due from subsidiaries	244,532,160	244,532,160	40,107,622
Total current assets	244,537,654	244,532,288	40,107,643
Investments in subsidiaries	1,273,050,179	1,351,862,978	221,729,564
Total assets	1,517,587,833	1,596,395,266	261,837,207
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accrued expenses and other payables	4,808	4,664	764
Total current liabilities and total liabilities	4,808	4,664	764
Total shareholders’ equity	1,517,583,025	1,596,390,602	261,836,443
Total liabilities and shareholders’ equity	1,517,587,833	1,596,395,266	261,837,207

CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

	Year Ended December 31,
	2011		2012	2013		2013
	(RMB)		(RMB)	(RMB)		($)
Operating expenses:
General and administrative	(2,584,881	)	—	(5,188	)	(851	)
Loss from operations	(2,584,881	)	—	(5,188	)	(851	)
Other income:
Interest income	164		—	—		—
Equity in earnings of subsidiaries	315,579,191		188,151,454	79,533,497		13,044,908
Income before income tax expense	312,994,474		188,151,454	79,528,309		13,044,057
Income tax expense	—		—	—		—
Net income	312,994,474		188,151,454	79,528,309		13,044,057

CONDENSED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2011		2012		2013		2013
	(RMB)		(RMB)		(RMB)		($)
Net cash used in operating activities	(2,592,878	)	(18	)	(5,332	)	(875	)
Net cash provided by investing activities	—		—		—		—
Net cash provided by financing activities	—		—		—		—
Net increase (decrease) in cash	(2,592,878	)	(18	)	(5,332	)	(875	)
Cash—beginning of year	2,730,413		5,494		5,494		901
Effect of exchange rate changes on cash and cash equivalents	(132,041	)	18		(34	)	(5	)
Cash—end of year	5,494		5,494		128		21