China New Borun Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported revenues of RMB 555,093,952 against RMB 530,379,367 a year ago. Operating income was RMB 39,298,666 against RMB 31,908,499 a year ago. Income before income taxes was RMB 22,707,942 against RMB 19,837,509 a year ago. Net income was RMB 17,030,957 against RMB 14,878,131 a year ago. Basic and diluted earnings per share were RMB 0.66 against RMB 0.58 a year ago. The increase in revenue was mainly attributable to higher sales volume of edible alcohol and its by-products. Cash flows generated from operating amounted to RMB 333.4 million which was mainly generated form the decrease in inventory during the second quarter of 2017.

For the six months, the company reported revenues of RMB 1,071,003,283 against RMB 1,016,961,602 a year ago. Operating income was RMB 115,453,835 against RMB 78,301,897 a year ago. Income before income taxes was RMB 82,607,482 against RMB 53,505,984 a year ago. Net income was RMB 61,955,612 against RMB 40,129,488 a year ago. Basic and diluted earnings per share were RMB 2.41 against RMB 1.56 a year ago.

Reflecting the comparatively shorter year-over-year production period, the company estimates that its revenue for the third quarter of 2017 will be In the range of RMB 380 million to RMB 420 million a decrease of approximately 36.9% to approximately 30.3%, respectively, over the same quarter of 2016.