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Description of Business
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Through the Company's operating subsidiaries, the Company is a supplier of
day-old chickens raised for meat production, or broilers, in the People's
Republic of China, the "PRC" or "China". The Company purchases parent breeding
stock from breeder farms, raises them to produce hatching eggs, and hatches the
eggs to day-old broilers. By the end of March 2011, the Company has 43 breeder
farms with 28 in operation and three hatcheries with a total annual capacity of
3.15 million sets of breeders and 160 hatchers through its wholly-owned
subsidiary, Weifang Yuhe Poultry Co. Ltd., "PRC Yuhe". The Company's day-old
broilers are primarily purchased by broiler farms and integrated chicken
companies for the purpose of raising them to market-weight broilers. The
Company's customers are located in the eight provinces and special
municipalities centered around Shandong Province, which are Jiangsu, Anhui,
Henan, Hebei, Heilongjiang, Tianjin, Beijing, and Shanghai.
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