China New Borun, Corp. (NYSE:BORN) Will Hold Annual General Meeting on January 6, 2017, How Will the Market Respond?

Leading producer and distributor of corn-based edible alcohol in China, China New Borun, Corp. (NYSE:BORN), will hold its annual general meeting of shareholders on January 6, 2017.

BEIJING, Nov. 10, 2016 /PRNewswire/ — China New Borun Corporation (NYSE: BORN; “Borun” or the “Company”), a leading producer and distributor of corn-based edible alcohol in China, announces today that it will hold its annual general meeting of shareholders at 10:00 a.m. Beijing/Hong Kong time on January 6, 2017 at the Company’s corporate office located at Bohai Industrial Park (Yangkou Town), Shouguang, Shandong province, People’s Republic of China.

Record holders of ordinary shares as of the close of business on November 28, 2016, New York time, are entitled to notice of, and to vote at, the annual general meeting or any adjournment or postponement thereof. Holders of the Company’s American depositary shares (“ADSs”) who wish to exercise their voting rights for the underlying ordinary shares must act through the depositary of the Company’s ADS program, The Bank of New York Mellon.

The purpose of the annual general meeting will be to re-elect Mr. Hengxiu Song, Mr. Jinmiao Wang, Mr. Binbin Jiang, Mr. Wen Jiang and Mr. Xisheng Lu to the Company’s board of directors and ratify the re-appointment of its auditors, BDO China Shu Lun Pan Certified Public Accountants LLP for the fiscal year ending December 31, 2016.

The notice of the annual general meeting, which sets forth the resolutions to be submitted to shareholder approval at the meeting, is available on the Investor Relations section of the Company’s website at http://ir.chinanewborun.com. A copy of the Company’s proxy statement has been filed with the U.S. Securities and Exchange Commission (the “SEC”).

Additionally, a copy of China New Borun Corporation’s 2015 Annual report on Form 20-F, including its audited financial statements, for the fiscal year ended December 31, 2015, has been posted on the Investor Relations section of the Company’s website for download at the following link: http://ir.chinanewborun.com/phoenix.zhtml?c=236223&p=irol-sec, and can be also accessed on the SEC’s website at http://www.sec.gov.

About China New Borun Corporation

China New Borun Corporation (NYSE: BORN) is a leading producer and distributor of corn-based edible alcohol sold as an ingredient to producers of baijiu, a popular grain-based alcoholic beverage in China. The Company also produces DDGS Feed, liquid carbon dioxide and crude corn oil as by-products of edible alcohol production, and chlorinated polyethylene (CPE) that are widely used in chemical industries. China New Borun is based in Shouguang, Shandong Province. Additional information about the company can be found at http://www.chinanewborun.com and in documents filed with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at http://www.sec.gov.

Original Source

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China New Borun, Corp. (NYSE:BORN) shares are trading +3.85% on the news and in the range of $1.29 – 1.36 during the current trading session.  When taking a look at which direction the stock might be headed, investors often look to brokerage analysts who cover the stock.  Sell-side research firms on Wall Street currently have a consensus one-year price target of $7.00 on the stock.  This is according to brokerage analysts polled by Thomson Reuters First Call.

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Sell-side analysts are projecting earnings per share of $0.00 for the next fiscal quarter.  For the current year, analysts are predicting earnings of $1.52 per share according to First Call.

In looking at where the stock is trading on a technical level, the stock is trading -4.46% away from its 50-day moving average of $1.41.  Based on the most recent available data, the equity is -28.95% off of its 52-week high of $1.90 and +23.85% away from its 52-week low which is $1.09.

In taking a look at the company’s valuation, the firm’s price to earnings ratio stands at 2.04.  Today, the stock opened at $1.29 and the last bid at the time of writing stood at $1.35.  During the session thus far, the equity dipped down to $1.29 and touched $1.36 as the high point.  China New Borun, Corp. (NYSE:BORN) has a market cap of $34.73M and has seen an average daily volume of 35,605 over the past three months.

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Disclaimer: Nothing contained in this publication is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.

 

 

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