China New Borun Corporation
 
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Form 20-F
CHINA NEW BORUN CORP filed this Form 20-F on 05/15/2018
Document Outline
Entire Document (5958 KB)
Subdocument 1 - 20-F - 20-F
Page 1 - UNITED STATES
Page 2 - CHINA NEW BORUN CORPORATION
Page 3 - USE OF PROCEEDS
Page 4 - N/A
Page 5 - INTRODUCTION
Page 6 - FORWARD-LOOKING STATEMENTS
Page 7 - N/A
Page 8 - PART I.
Page 9 - Selected Audited Consolidated Statement of Income Data:
Page 10 - Exchange Rate Information
Page 11 - C. Reasons for the Offer and Use of Proceeds
Page 12 - Our inability to expand or to manage the expansion of our production capacity and growth could mater
Page 13 - If we are unable to access corn of the quality required to meet our production standards for our key
Page 14 - If we experience problems with our product quality, customer satisfaction with respect to pricing of
Page 15 - Any interruption in our manufacturing operations or production and distribution processes could impa
Page 16 - Interruptions with our coal-fired power-generating systems, whether planned or unexpected, may have
Page 17 - Transportation delays, including as a result of disruptions to infrastructure, could adversely affec
Page 18 - Our operations are subject to various risks associated with our use, handling, storage and disposal
Page 19 - Environmental compliance and remediation could result in substantially increased capital requirement
Page 20 - Our production activities are conducted and will continue to be conducted in concentrated locations.
Page 21 - Our business is capital intensive and our growth strategy may require additional capital, which may
Page 22 - We will continue to incur increased costs as a result of being a public company, which will adversel
Page 23 - We may be exposed to potential risks relating to our internal control over financial reporting.
Page 24 - Our business, financial condition and results of operations, as well as our ability to obtain financ
Page 25 - One of our shareholders has significant control over the outcome of our shareholder votes.
Page 26 - Our operating results for a particular period could fall below our expectations or the expectations
Page 27 - As a company incorporated in the Cayman Islands, we may adopt certain home country practices in rela
Page 28 - The PRC government exerts substantial influence over the manner in which we must conduct our busines
Page 29 - N/A
Page 30 - We may become subject to PRC taxation on our worldwide income, which could result in a material adve
Page 31 - Fluctuations in the value of RMB will affect the amount of the value of, and dividends payable on, o
Page 32 - PRC regulations relating to offshore investment activities by PRC residents may increase the adminis
Page 33 - We may face regulatory uncertainties that could restrict our ability to issue equity compensation to
Page 34 - The application of PRC regulations relating to the overseas listing of PRC domestic companies is unc
Page 35 - Compliance with certain PRC regulations with respect to acquisitions may be time-consuming, and any
Page 36 - Substantial uncertainties exist with respect to the enactment timetable, interpretation and implemen
Page 37 - We face uncertainties with respect to indirect transfers of equity interests in PRC resident enterpr
Page 38 - Our certificates, permits and licenses related to our operations are subject to governmental control
Page 39 - Labor laws in the PRC may adversely affect our results of operations.
Page 40 - Our auditor, like other independent registered public accounting firms operating in the PRC, is not
Page 41 - We believe we were a passive foreign investment company, or PFIC, for 2017 and we may be a PFIC for
Page 42 - Our articles of association contain anti-takeover provisions that could discourage a third party fro
Page 43 - Future issuances of ordinary shares or ADSs may depress the trading price of our ADSs.
Page 44 - Your right to participate in any future rights offerings may be limited, which may cause dilution to
Page 45 - You may be subject to limitations on transfer of your ADSs.
Page 46 - N/A
Page 47 - N/A
Page 48 - Acquisition of Daqing Borun
Page 49 - N/A
Page 50 - N/A
Page 51 - Proposed Going-private Transaction
Page 52 - B. Business Overview
Page 53 - N/A
Page 54 - Our Competitive Strengths
Page 55 - Corn Sourcing Expertise
Page 56 - N/A
Page 57 - Continuous Improvement of our Borun Wet Process
Page 58 - DDGS Feed
Page 59 - Crude Corn Oil
Page 60 - Our Key Production Technology
Page 61 - Our Supply of Electricity
Page 62 - Quality Control Measures
Page 63 - Our Production Facilities and Current Production Capabilities
Page 64 - Our Customers and Methods of Distribution of our Products
Page 65 - Our Sales and Marketing
Page 66 - Our Suppliers and Raw Materials
Page 67 - Seasonality
Page 68 - Safety Procedures and Measures
Page 69 - Intellectual Property
Page 70 - Insurance
Page 71 - Legal Proceedings
Page 72 - Industry Policy
Page 73 - Material Licenses Relating to Our Products
Page 74 - Regulation on Work Safety
Page 75 - Regulation on Work Safety Licenses
Page 76 - Regulation on Labor Protection
Page 77 - Patent Enforcement
Page 78 - Foreign Exchange Regulation
Page 79 - Tax
Page 80 - Provisions Regarding Mergers and Acquisitions of Domestic Enterprises by Foreign Investors
Page 81 - Tort Liability Law
Page 82 - Principal Factors Affecting our Financial Performance
Page 83 - Fluctuation of Demand for and Price of Edible Alcohol
Page 84 - Expansion of Our Product Mix and Sales Network
Page 85 - Component of Revenues and Expenses
Page 86 - Operating Expenses
Page 87 - China
Page 88 - Income Taxes
Page 89 - N/A
Page 90 - N/A
Page 91 - Results of Operations
Page 92 - Results of Operations for the Year Ended December 31, 2016 Compared to the Year Ended December 31, 2
Page 93 - N/A
Page 94 - Gross Profit
Page 95 - Other Expenses/(income)
Page 96 - N/A
Page 97 - Gross Profit
Page 98 - Impairment loss on Property, Plant and Equipment
Page 99 - Net Cash Provided by Financing Activities
Page 100 - N/A
Page 101 - Net Cash Used In Investing Activities
Page 102 - Future Capital Requirements We had cash on hand of RMB495.6 million ($75.9 million), RMB795.3 millio
Page 103 - F. Tabular Disclosure of Contractual Obligations
Page 104 - Biographies of Officers and Directors
Page 105 - Mr. Binbin Jiang, Independent Director
Page 106 - B. Compensation
Page 107 - C. Board Practices
Page 108 - Compensation Committee
Page 109 - Corporate Governance and Nominating Committee
Page 110 - D. Employees
Page 111 - ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS
Page 112 - B. Related Party Transactions.
Page 113 - N/A
Page 114 - Reorganization of Shandong Borun and merger of WGC into Shandong Borun
Page 115 - Additional Related Party Transactions
Page 116 - ITEM 8. FINANCIAL INFORMATION
Page 117 - B. Significant Changes
Page 118 - B. Plan of Distribution
Page 119 - ITEM 10. ADDITIONAL INFORMATION.
Page 120 - D. Exchange Controls
Page 121 - United States Taxation
Page 122 - You should consult your own tax advisor concerning the particular U.S. federal income tax consequenc
Page 123 - Effect of Uncertainty Relating to PRC Taxation
Page 124 - Foreign Tax Credit Considerations
Page 125 - Passive Foreign Investment Company
Page 126 - You are urged to consult your tax advisors concerning the U.S. federal income tax consequences of ho
Page 127 - Medicare Contribution Tax on Unearned Income
Page 128 - Disclosure of Information with respect to Foreign Financial Assets
Page 129 - HOLDERS OF OUR ADSs SHOULD CONSULT THEIR OWN TAX ADVISORS REGARDING THE APPLICATION OF PRC AND UNITE
Page 130 - ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
Page 131 - ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES
Page 132 - Fees and Payments by Depositary
Page 133 - PART II.
Page 134 - Attestation Report of Independent Registered Public Accounting Firm
Page 135 - ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES
Page 136 - ITEM 16G. CORPORATE GOVERNANCE
Page 137 - N/A
Page 138 - SIGNATURE
Page 139 - CHINA NEW BORUN CORPORATION AND SUBSIDIARIES
Page 140 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Page 141 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Page 142 - CHINA NEW BORUN CORPORATION AND SUBSIDIARIES
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Subdocument 2 - EX-8.1 - EX-8.1
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Subdocument 3 - EX-12.1 - EX-12.1
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Subdocument 4 - EX-12.2 - EX-12.2
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Subdocument 5 - EX-13.1 - EX-13.1
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Subdocument 6 - EX-13.2 - EX-13.2
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