date:May 26, 2014
cash and bank deposits of RMB424.4 million ($69.0 million) decreased by RMB96.9 million, compared with RMB521.3 million as of December 31, 2013. Cash flows used in operating activities for the first quarter of 2014 were RMB332.0 million ($54.0 million), which was mainly due to that the Company completed the pre-stored of corn during this quarter.
These corns could satisfy the Company's production needs during the non-harvest season in 2014. As of March 31, 2014, inventory balance of RMB937.4 m