China New Borun H1 Profit Down 83.1% - Quick Facts

(RTTNews) - China New Borun Corp. (BORN), a distributor of corn-based edible alcohol in China, reported that its net income for the first half of 2018 fell 83.1 percent to RMB 10.50 million, or $1.6 million, from RMB 61.96 million in the first half year of 2017.

Earnings per American Depositary Share or ADS for the half-year period were RMB 0.41, or $0.06, compared to RMB 2.41 in the prior-year period.

Total revenue for the half year decreased 12.2 percent to RMB 940.4 million, or $142.1 million, from RMB 1.07 billion in the year-ago period, mainly due to lower sales volume of edible alcohol and its by-products.