Document:

Exhibit 4.3

 

 

No: 23060500-2011 Nian Qing Ying Di Zi No. 0014

 

 

THE MORTGAGE CONTRACT

 

 

AGRICULTURAL DEVELOPMENT BANK OF CHINA

 

 

    	 

    	 

    

  

Mortgagor (in full): Daqing
Borun Biotechnology Co., Ltd           

 

Business License Number:   230606100202956

 

Legal Representative (Main Responsible
Officer):   Wang Jinmiao

 

Address:   Jubao Village, Zhusan
Township, Datong District, Daqing

 

Postal code:   163515

 

Bank of Basic Deposit Account and Account
Number:   Daqing Datong Branch of Longjiang Bank Corporation with the Account No. 020120218000105

 

Tel and Fax:   0459-6989708

 

Mortgagee (in full): Daqing Branch of
Agricultural Development Bank of China

 

Legal Representative (Main Responsible
Officer):   Wang Weidong

 

Address:   West to Beisa Disctrict
Procuratorate, Jianshe Road, Hi-tech Zone District, Daqing City, Hei Longjiang Province

 

Postal code:   163316

 

Tel and Fax:   0459-6297106

 

In order to ensure the obligations of debtor
under the Working Capital Loan Contract (hereinafter referred to as “Principal Contract”) (Contract No: 23060500-2011
(Qing Ying) Zi No. 0034), which was entered into between Daqing BoRun Biotechnology Co., Ltd. and the pledgee on November
4, 2011, to be fully performed, and in order to protect the realization of the creditor’s right of the pledgee, the pledger
is willing to provide pledge security to the pledgee. To clarify the two parties’ rights and obligations, pursuant to the
Contract Law of the People’s Republic of China, Security Law of the People’s Republic of China and other relevant laws
and regulations, the two parties enter into this contract for the two parties to conform on the basis of equity, free will and
amicable negotiation.

 

 Article
1 Type and Amount of the Secured Principal Creditor’s Right

The secured principal creditor’s
right under this contract is the creditor’s right arising from the debtor’s business operation prescribed under the
Principal Contract with the creditor. The type of prescribed business under the Principal Contract is corn purchase loan for
leading processing enterprise, and the amount of the principal amount is RMB 10 million.

 

    	 

    	 

    

 

Article 2 Term for the Debtor to Perform
Obligations

Term for the debtor to perform obligations
is nine months, commencing from November 9, 2011 and ending on August 8, 2012. If the actual term to perform
obligations under the Principal Contract is different from this provision, the stipulation of Principal Contract shall prevail.

 

 

		Article 3	Security Scope

 

3.1          The scope to be secured hereunder shall include the principal, interest, compound interest, default interest, liquidated
damages, damage awards and expenses incurred due to the realization of credit by the creditor and all other sums, including but
not limited to expenses or fees of litigation, arbitration, property preservation, assessment, auction, execution, transfer and
agency.

 

		Article 4	Mortgage Property

 

4.1        The Mortgagor, of its own free will, mortgages to the Mortgagee all the properties listed in the Mortgage List hereunder,
which shall constitute integral parts hereof.

 

4.2        The agreed value of the mortgage properties under the Mortgage List shall not be regarded as the assessment basis when such
mortgage properties are disposed and shall not constitute any constraint on the mortgagee regarding the enforcement of the mortgage
right. The final value of the mortgage properties shall be subject to the net income of the actual disposal of the mortgage properties
when such mortgage right is realized.

 

		Article 5	Effectiveness of the Mortgage Right

 

The effectiveness of the mortgage right
hereunder shall govern the ancillary components, accessory rights, subrogated rights, affiliated things, compounds, processed things,
fructus and insurance benefit, compensation, damages arising from any damage, loss, levy or requisition to the mortgage property.

 

		Article 6	Mortgage Registration

 

6.1         Should the mortgage properties hereunder be subject to the mortgage registration in accordance with laws and regulations,
the Mortgagor shall, within fifteen (15) days after the execution of this Mortgage Contract, go to the competent authorities to
handle the mortgage registration along together with the Mortgagee.

 

6.2         In
case that he two parties hereto voluntarily are willing to procure the mortgage registration, the Mortgagor shall, within fifteen
(15) days after the execution of this Mortgage Contract, go to the competent authorities to procure the mortgage registration
along together with the Mortgagee.

    	 

    	 

    

 

6.3         Where
any changes occur to the items under the mortgage registration and such changes are subject to the registration of alteration,
the Mortgagor shall, within fifteen (15) days after the alteration of the items under mortgage registration, go to the competent
authorities to handle the mortgage registration of alteration along together with the Mortgagee.

 

		Article 7	Occupation and Keeping of the Mortgaged Property

 

7.1         The
certificates of mortgage rights hereunder, the original copies of the mortgage registration documentation and other materials
relating to the mortgaged properties shall be kept by the Mortgagee after confirmation by the Mortgagor and Mortgagee. The mortgagee
shall keep such certificates and documents of mortgage rights appropriately. If, due to the improper care, such certificates and
documents of mortgage rights are damaged or lost, the post-registration fees shall be borne by the Mortgagee.

 

7.2        The
Mortgagor shall keep the mortgaged properties properly and maintain the mortgage properties intact, and shall accept supervision
and inspection of the Mortgagee at any time.

 

7.3        Without the prior written consent of the Mortgagee, the Mortgagor shall not donate, alienate, lease, re-mortgage, pledge
or otherwise dispose of the Mortgaged properties hereunder by any means. Where a mortgagor alienates, upon the prior written consent
of the mortgagee, the mortgaged properties, the money generated from such alienation shall be used to pay off debts to the Mortgagee
in advance or be deposited to a bank account designated by the Mortgagee with the purpose of assuring the performance of the obligations
under the Principal Contract continuously.

 

7.4        In
case the mortgaged properties are damaged or lost, the Mortgagor shall promptly take measures so as to prevent the expansion of
the losses thereof and shall, at the same time, notice the Mortgagee. The insurance benefits and compensatory payment arising
from or in connection with such losses shall be used to pay off principal debts to the Mortgagee in advance or be deposited to
a bank account designated by the Mortgagee with the purpose of assuring the performance of the obligations under the Principal
Contract continuously.

 

7.5        In case the value of the mortgaged properties reduces, the Mortgagor shall resume such mortgaged properties to the original
value status or provide the necessary guarantee equal to the reduced value upon the confirmation of the Mortgagee. In case any
such request of the Mortgagee is refused, the Mortgagee shall be entitled to exercise the mortgage right in advance. In case there
are still losses after the excise of the mortgage right in advance, the Mortgagor shall undertake the compensation liabilities.
Should the Mortgagor be indemnified against the losses in relation to the reduced value of the mortgaged properties, the Mortgagor
shall provide security to the Mortgagee within the extent of the indemnity that it has thus obtained. The part of the mortgaged
properties that have not reduced shall still constitute the security of the Principal Contract.

    	 

    	 

    

 

7.6        In the event that the mortgaged properties are expropriated as the needs of the state construction, the compensation thereof
obtained by the Mortgagor shall be used to pay off debts to the Mortgagee in advance or be deposited to a bank account designated
by the Mortgagee with the purpose of assuring the performance of the obligations under the Principal Contract continuously. In
the event the compensation is in the form of land exchange, the Mortgagor shall cause the exchanged land to be subordinate mortgage
property for benefit of principal credit hereof, and proceed mortgage registration in a timely manner; if the value of mortgage
property is insufficient to cover the principal credit, additional security shall be added to cover the principal credit sufficiently.

 

		Article 8	Mortgage Insurance

 

8.1         The mortgagor shall, within fifteen (15) days after the execution of this contract, go to relevant insurance institutions
to make the mortgaged properties, which are considered by the Mortgagee as necessary and have access to the property insurance,
covered by the property insurance in favor of the Mortgagee as the first beneficiary subject to the requirements of the Mortgagee
with respect to the insurance type and amount. The period of the insurance shall not be shorter than of the performance period
of this contract and the insurance amount shall not less than the principal and interest of the loan under the Principal Contract.

 

8.2         The
mortgagor shall deliver to the Mortgagee the original copies of the insurance policies, which shall not include the provisions
that constrain the rights and benefits of the Mortgagee.

 

8.3         The Mortgagor shall not cancel or otherwise terminate the insurance for any reason during the period of this contract. In
case the Mortgagor cancels or otherwise terminates the insurance, the Mortgagee shall be entitled on their behalf to purchase the
insurance with all cost thus incurred to be borne by the Mortgagor.

 

8.4         During
the period of this contract, if insurance accidents occur to the mortgaged properties, the insurance compensation thereof obtained
by the Mortgagor shall be used to pay off debts to the Mortgagee in advance or be deposited to a bank account designated by the
Mortgagee with the purpose of assuring the performance of the obligations under the Principal Contract continuously.

 

		Article 9	Enforcement of Mortgage Right

 

9.1        Upon
the expiration of the duration of the debts under the Principal Contract, or in case the credits secured by the maximum mortgage
is confirmed, or when the Mortgagee requires to pay-off the credits under the Principal Contract in advance, should the Debtor
fail to pay-off the principal and interest as well as all other expenses, the Mortgagee shall be entitled to auction or sell the
mortgaged properties and be paid back first through the payment arising from such activities, or, through the consultation with
the Mortgagor, realize its rights through converting the mortgaged properties into money. In case that the parties hereof fail
to reach consensus regarding the realization of mortgage right, then the Mortgagee may suit to the people's court for auction
or sale of the Mortgage Properties.

 

    	 

    	 

    

 

9.2       When and if the Principal Contract is terminated by the Mortgagee in accordance with the provisions therein or laws and
regulations or the Mortgagee withdraws the principal credit in advance, subject to negotiation, the Mortgagee may enjoy the priority
to be repaid from the auction or sale the mortgaged properties or get repaid through converting the mortgaged properties into money.
In case that the parties hereof fail to reach consensus regarding the realization of mortgage right, then the Mortgagee may suit
to the people's court for auction or sale of the Mortgage Properties.

 

9.3       The
part of payment incurred due to the disposition of the mortgaged properties hereunder exceeding the principal and interest and
all other relevant expenses shall be attributed to the Mortgagee.

 

9.4       When the Mortgagee disposes the mortgaged properties hereunder the Mortgagor shall offer proper cooperation and shall not
set any obstacle.

 

		Article 10	Representations and Warranties of the Mortgagor

 

10.1       The Mortgagor understands and agrees any and all provisions hereof and, of its own will, provides the security for the Debtor.
All the declaration of intention hereunder is true.

 

10.2       The Mortgagor is the complete, valid and legal owner of the mortgaged properties hereunder or the authorized business operator
by the government and no any dispute regarding the ownership or the rights of business operation exists upon the mortgaged properties.
The mortgaged properties is not co-owned property or is co-owned property but consent of co-owners has been obtained for purpose
of mortgage issue hereof. Such properties are free to be mortgaged in compliance with laws and regulations without being subject
to any limitations, upon which no such circumstances as cancellation from use, detention, custody, tax or construction cost in
default or other circumstances that may impact the realization of the mortgage right of the Mortgagee exist. The Mortgaged Properties
are not subject to any lease or part of or all the Mortgaged Properties are subject to lease, but the lessee has been informed
of the mortgage issue hereof and the supporting documents evidencing that the lessee undertakes to terminate the lease free of
any consideration when and if the Mortgagee exercise its mortgage right hereunder; further, the detailed information of the lease
shall be reported to the Lender.

 

10.3       Should
the Principal Contract be the Bank Acceptance Agreement, the Mortgagor undertakes that any disputes arising from or in connection
with the bills or otherwise disputes occurring to the Debtor, the holder of the acceptance bills, endorser or other relevant persons
shall not jeopardize the security liabilities borne by the Mortgagor to the Mortgagee in compliance with this contract.

 

    	 

    	 

    

 

10.4      The
Mortgagor shall notice the Mortgagee in writing in the event the following issues occur:

 

		10.4.1	In case that there are modifications with respect to
the business operation system, including but not limited to contracting mechanism, lease, joint operation, merger, separation,
joint stock enterprise reform, cooperation with foreign investors and so on, or business scope or registered capital modifications,
shareholding changes, the Mortgagor shall notice the Mortgagee at least fifty (50) days in advance.

 

		10.4.2	In case that there are significant economic disputes
or disputes with respect to the ownership or preservation measures upon the mortgaged properties, bankruptcy, business close,
dissolution, business cancellation and reorganization, cancellation of business license or changes of address, telephones and
legal representatives, the Mortgagor shall notice the Mortgagee within five (5) days since the occurrence of the aforementioned
issues.

 

		10.4.3	In case that there is any change to the land use purpose
after the land use right is mortgaged, the Mortgagor shall inform the Mortgagee 30 days in advance.

 

10.5       Provided that the issues referred in Article 11.4 or some other issues occur to the Mortgagor during the valid period
of this Contract, the Mortgagor shall undertake the security liabilities hereunder continuously.

 

10.6       During
the validity term hereof and before the principal credit secured by the maximum mortgage is determined, if the Mortgagee legally
transfer part of the principal credit, the Mortgagor shall continue to undertake maximum mortgage liability to the extent hereunder.
In case that the Mortgagee legally transfer the principal credit together with the maximum mortgage right, the Mortgagor shall
undertake to acknowledge and confirm it.

 

10.7       In
the event that the Debtor fails to perform the obligations, regardless of whether the Mortgagee possesses other security rights
upon the credits under the Principal Contract, the Mortgagee shall be entitled to require the Mortgagor to bear the security obligations
to the extent of the security hereunder.

 

10.8        Without written consent of the Mortgagee, the Mortgagor shall not set up any mortgage, lien in any form upon the Mortgaged
Properties, shall not lease, transfer or gift the Mortgaged Properties to any third party and shall hold the Mortgaged Property
harmless free from any damage. In case that the mortgage right suffers or potentially will suffer the damages incurred from any
other third party, the Mortgagor shall notice immediately or assist the Mortgagee to avoid such damages.

 

    	 

    	 

    

 

10.9      Should
the agreement regarding the modification of this contract be reached between the Mortgagor and the Mortgagee, except for the extension
of this contract, the increase of the principal credit, increase of interest rate or change of currency, the Mortgagor shall still
be liable for the security obligations within the extent of the obligations hereunder without being subject to the agreement of
the Mortgagor.

 

10.10    All
the relevant expenses hereunder, including but not limited to fees of legal counsel, identification, notarization, assessment,
registration, transfer, custody or litigation shall be borne by the Mortgagor.

 

		Article 11	Default Liabilities

 

11.1     Once this contract comes into effective, both parties hereunder shall perform such liabilities as agreed under this contract.
Any party, which fails to perform such liabilities hereof or perform such liabilities incompletely as agreed under this contract,
shall bear the liabilities for breach of this contract.

 

11.2     The
Mortgagor shall indemnify the Mortgagee for all the economic losses incurred due to its false representations or breach of any
warrants declared by the Mortgagor in the Article 11 or make any disposal of the Mortgaged Property without written consent
from the Mortgagee, or failure to or decline to procure mortgage property insurance or mortgage registration or other actions
that may prejudice the Mortgagee to realize the mortgage right.

 

11.3     In
the event that this contract becomes invalid not due to any fault of the Mortgagee, the Mortgagor shall indemnify all the economic
loss to the extent of security scope as agreed hereof.

 

		Article 12	Effectiveness, Modification, and Termination of Contract

 

12.1     This contract shall enter into effective on the date when both parties sign and stamp on it. Should the mortgage registration
is required in compliance with laws and regulations or provisions hereof, the mortgage right becomes valid upon the completion
of mortgage registration.

 

12.2     Any invalidity or unenforceability of any article hereof shall not prejudice the validity and unenforceability as well as
the effectiveness of the entire contract.

 

12.3      Upon the effectiveness of this contract, except as otherwise provided, neither the Mortgagor nor the Mortgagee could modify
or terminate this contract without the prior consent of the other party. Provided that the modifications or the termination of
this contract is needed, the notice shall be delivered in writing and the written agreements in respect thereof shall be reached
upon consensus through the negotiation between two parties.

 

    	 

    	 

    

 

		Article 13	Resolution of Disputes

 

13.1         Any disputes arising out of, or in connection with the execution of this contract shall be settled through the consultations
between two parties; where the agreements fail to be reached through such consultation, such disputes shall be settled through
the following ways as provided under Article 14.1.1:

 

		13.1.1	Instituting a legal proceeding to the People's court
located at the premise of the Mortgagee.

 

		13.1.2	Submitting to [   ] commission of arbitration
with the arbitration premise at [   ] in accordance with the arbitration rules at that time.

 

		Article 14	Miscellaneous

 

14.1      [  
].

 

14.2      [   ]

 

14.3      [  
]

 

		Article 15	Supplementary

 

15.1      Except
as otherwise provided hereunder, all the notices between the Mortgagor and Mortgagee shall be delivered in writing. Upon any of
the telexes and telegrams are sent, or the postal letters are delivered to the post offices by the Mortgagee to the Mortgagor,
such telexes, telegrams and postal letters shall be deemed as reached by the Mortgagor.

 

15.2      The
appendix hereto shall constitute integral parts hereof and shall be as valid and effective as this contract.

 

15.3      The
contract is executed in triplicate, one (1) for the Mortgagor, one (1) for the mortgagee and one (1) for Datong
District Industry and Commerce Bureau..Each counterpart has equally authentic. 

 

		Article 16	Special Instructions

 

The Mortgagee has reminded the Mortgagor
of understanding the provisions hereunder comprehensively and accurately and made explanations regarding the relevant provisions
according to the requirements of the Mortgagor. There is no any discrepancy in connection with the understanding of the provisions
hereof between the two parties.

 

    	 

    	 

    

  

	The Mortgagor (seal)	 	The Mortgagee (seal)
	 	 	 
	Legal Representative (Main Responsible Officer) or Authorized Agent:	 	Legal Representative (Main Responsible Officer) Authorized Agent:
	 	 	 
	Date: November 4, 2011	 	Date: November 4, 2011

 

 

 

    	 

    	 

    

 

The following mortgages have been checked
and confirmed by both mortgagor and mortgagee.

 

This list is an appendix of Mortgage
Agreement [No. 23060500-2011 Qing Ying (di) Zi 0014)]

 

Mortgage
List 

 

 

	 	 	 	Quality	Location(Deposit,  	
        Ownership

        Certificate,

        Serial
	 	 	 	
        Situation

        for
	Insurance

Policy	 
	Name of	Specification	Quantity	and	Storage and	Number and	Original	Assessed	 	previous	 	Validity	 
	Mortgage	Model	and Unit	Status	Using Unit)	Issuance Unit)	Value	Value	Co-owner	mortgage	No..	Period	Note
	Balance Tower	PH135	1 set	good	Daqing Borun Biotechnology Co., Ltd.(大庆博润生物科技有限公司)	Daqing Borun Biotechnology Co., Ltd.	32,779.49	32,451.70	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	DTC Evapo-separated Machine	DTC250	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,454,589.74	1,440,043.84	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Air-lock Valve	BFQ30	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	36,876.92	36,508.15	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	High Pressure Positive Blower	9-19-4.5 A	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	10,243.59	10,141.15	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Wet Collector	PJS120	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	53,266.67	52,734.00	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	First Steam-flash Generator	SFX130	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	12,292.32	12,169.40	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	The Second Steam-flash Generator	ZFQ400	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	114,728.22	113,580.94	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Second Steam-flash Generator	SFX100	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	8,194.87	8,112.92	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Butterfly Stripper	DQT800	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	120,874.36	119,665.62	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Oil-Oil Heat Exchanger	HRY20	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	36,876.92	36,508.15	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Crude 

oil box	MYX120	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	6,146.15	6,084.69	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Evapo-separated, Analytic Condenser	WLN150	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	430,230.77	425,928.46	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Storage Bin	CLX80	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	18,438.46	18,254.08	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Air-lock Valve	BFQ250	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	24,584.62	24,338.77	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	1#Embedded Scraper	MC25	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	61,461.54	60,846.92	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	1#Sealant	LSM35	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	26,633.33	26,367.00	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Receiving Hopper	RLD60	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	4,097.44	4,056.47	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Rotocel Extractor	JPS650	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,536,538.46	1,521,173.08	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Disk Feeder	YLQ120	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	53,266.67	52,734.00	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Wet Dreg Embedded Scaper	MC25	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	65,558.97	64,903.38	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	2# Sealant	LSM35	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	26,633.33	26,367.00	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Cacther	XL50-D80	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	8,194.87	8,112.92	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Embedded Scaper with Extraction of Dreg 	MC25	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	61,461.54	60,846.92	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Safety Oilcan	AG180	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	30,730.77	30,423.46	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Cyclone Hydraulic Separators	XY-D13	3 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	26,633.33	26,367.00	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	1#Mixed Oilcan	GH160	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	18,438.46	18,254.08	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	2#Mixed Oilcan	GH160	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	18,438.46	18,254.08	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	The First Long Tube Evaporator	ZFQ120	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	368,769.23	365,081.54	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	First, Second Vapour Condenser	WLN250	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	717,051.28	709,880.77	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Gas Condenser	WLN80	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	245,846.15	243,387.69	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Lixiviated Equilibrium Condenser	WLN80	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	245,846.15	243,387.69	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Purifier Combination	FSG200*600	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	307,307.69	304,234.61	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Big Spray Tank	HPG70	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	10,243.59	10,141.15	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Cooking Kettle	ZG120	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	59,412.82	58,818.69	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Paraffin Absorbing Tower	XST40	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	79,900.00	79,101.00	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Paraffin Analytic Tower	JXT40	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	92,192.31	91,270.39	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Paraffin Oil-Oil Heat Exchanger	11.0-C20-10/10	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	28,682.05	28,395.23	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Paraffin Cooler	11.0-C40-10/18	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	57,374.36	56,800.62	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Paraffin Heater	JRJ10	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	16,389.74	16,225.84	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Paraffin Storage Tank	LCG120	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	10,243.59	10,141.15	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	1#Vapor Distributor	FQB273	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	10,243.59	10,141.15	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	2#Vapor Distributor	FQB219	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	8,194.87	8,112.92	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	3#Vapor Distributor	FQB219	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	8,194.87	8,112.92	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Maize Germ Pre-presser	 	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	2,905,982.91	2,615,384.62	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Oil Press	YZ390160KW*2	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,364,102.56	1,227,692.30	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Germ Mill	YPD800×1500	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,213,675.21	1,092,307.69	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Corn Pulverization and Conveyer Equipment	 	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	3,555,555.56	3,200,000.00	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Sliding Board Conveyer Equipment	 	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	3,675,213.68	3,307.692.31	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Turbine Oil Filter	TY-50	1set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	25,641.03	25,384.62	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	
        Spiral-plate Heat Exchanger

         
	 	15 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	6,410,256.41	5,769,230.77	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Circulating Water Cooler	NZF-500	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	410,256.41	406,153.85	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Fermentor Side Mixer	 	44 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,504,273.51	1,353,846.16	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Waste Mash Tank Side Mixer	 	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	21,367.52	21,153.84	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Clear Liquid Tank side Mixer	 	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	23,931.62	23,692.30	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Saccharifying Tank Vertical Mixer	 	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	56,410.16	55,846.16	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Liquefaction Vertical Tank Mixer	 	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	62,393.16	61,769.23	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Liquefaction Vertical Tank Mixer	 	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	58,119.66	57,538.46	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Worm Air Compressor and Corollary Equipments	 	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,354,700.85	1,219,230.77	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Circulating Water Cooler	GNZF-2500	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,709,401.71	1,538,461.54	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Valveless Filter	SWL-300	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	410,256.41	406,153.85	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Medicine Fetching Device	LHD-0.5*2	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	444,444.44	440,000.00	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Submersible Pump	2000QJ-50-91	12 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	48,205.13	47,723.08	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Submersible Pump	2000QJ-50-78	6 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	21,025.64	20,815.38	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Fermentation Circulating Pump	SWL-300	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	256,410.26	253,846.16	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Jet Liquefier	LHD-0.5*2	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	85,470.09	84,615.39	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Oil Press	YZ390	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	682,051.28	675,230.77	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Fluoroplastic Centrifugal Pump	Y15kw-2	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	14,358.97	14,215.38	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Fluoroplastic Centrifugal Pump	Y11kw-2	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	13,846.15	13,707.69	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Gear Fuel Supply Pump	2CY-60/2.8-1	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	16,752.14	16,584.62	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	General Air-distributing Cylinder	ф800*4300v	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	11,965.81	11,846.15	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Air-distributing Cylinder	ф600*4160v	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	7,350.43	7,276.93	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Air-distributing Cylinder	ф600*3900v	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	19,658.12	19,461.51	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Air Reservoir	ф2400*3670v	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	30,444.44	30,140.00,	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Air Reservoir	ф2800*4000v	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	42,512.82	42,087.69	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Double-screw Compressor	UD180-7B	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	5,299.15	5,246.16	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Double-screw Compressor	UD110-7B	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,452.99	1,269.15	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Water Removal Filter	UF600-V	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,292.31	1,269.15	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Dust Removal Filter	UF600-A	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,292.31	1,266.46	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Oil Removal Filter	UF600-B	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,292.31	1,279.39	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Refrigerated Type Compressed Air Dryer	DSA-650	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	2,564.10	2,538.46	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Water Removal Filter	UF210-V	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,529.91	1,514.61	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Dust Removal Filter	UF210-A	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,529.91	1,514.61	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Oil Removal Filter	UF210-B	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,538.46	1,523.08	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Refrigerated Type Compressed Air Dryer	DSA-210	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	1,538.46	1,523.08	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Air Reservoir	C-3.0/0.8	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	2,222.22	2,200.00	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Air Reservoir	C-6.0/0.8	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	2,564.10	2,512.82	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Cooler Tower	400t/h	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	94,017.09	93,076.92	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Cooler Tower	BNZF3-400	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	64,102.56	63,461.53	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Sewage Pump	IH150-125-315	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	34,188.03	33,846.15	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Alcohol Pump	IH150-125-250A	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	64,102.56	63,461.53	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Hot-water Pump	ISR100-65-250	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	3,418.80	3,384.61	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	
        Horizontal 

        Spiral

        Centrifuge

         
	LWD430B	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	3,957,264.96	3,561,538.46	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	
        Horizontal

        Spiral

        Centrifuge

         
	LW430B-1	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	791,452.99	783,538.46	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Packaging Scale	 	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	628,205.13	621,923.08	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Vibratory Screen Disintegrator	 	2 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	338,119.66	327,976.07	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Horizontal Cooler	SDHCD10	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	940,170.94	930,769.23	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

 

    	 

    	 

    

 

	Horizontal Cooler	SDHCD08	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	629,914.53	623,615.38	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Drying Tower	 	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	6,059,829.06	5,453,846.15	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 
	Steel Warehouse	 	1 set	good	Daqing Borun Biotechnology Co., Ltd.	Daqing Borun Biotechnology Co., Ltd.	4,111,111.11	3,700,000.00	Daqing Borun Biotechnology Co., Ltd.	not mortgaged	801012011230600000010	2011.11.09-2012.08.08	 

	Mortgagor (Seal)	Mortgagee(Seal)
	 	 
	Legal Representative or	Legal Representative or
	Authorized Representative ( the name is not clear in the original text)	Authorized Representative : Wang Weidong
	 	 
	(Sealed by) Daqing Borun Biotechnology Co., Ltd.	(Sealed by) Agricultural Development Bank of China, Daqing Branch
	 	 
	November 4,2011	November 4,2011Exhibit 4.6

 

 

Contract No. Zhong Lv Bao Zhi Zi 2011 No. 009-2

 

Counter Security Pledge Contract

 

Pledger (Party A): Daqing Borun Biotechnology
Co., Ltd.

 

Pledgee (Party B): Zhong Lv Credit Guarantee
Co., Ltd.

 

    	 

    	 

    

 

Pledger: Daqing Borun Biotechnology
Co., Ltd. (hereinafter referred to as “Party A”)

 

Address: Jubao Village, Zhusan County,
Datong District, Daqing Municipality, Heilongjiang Province

 

Legal representative: WANG Jinmiao

 

Contact phone number: 0536-54556688

 

Fax:

 

Pledgee: Zhong Lv Credit Guarantee Co., Ltd.
(hereinafter referred to as “Party B”)

 

Address: Floor 10, No. 2 Chaoyangmen North
Avenue, Dongcheng District, Beijing Municipality

 

Legal representative: WEI Zhenming

 

Contact phone number: 010-6551 1601

 

Fax: 010-6551 1606

 

Whereas Party B has entered into a Trust
Security Contract (Contract No.: Zhong Lv Wei Bao Zi 2011 No. 009) (hereinafter referred to as “Security Contract”)
with Daqing BoRun Biotechnology Co., Ltd. (hereinafter referred to as “Principal Debtor”);

 

Whereas Party B has entered into a Guarantee
Contract (Contract No. 23060500-2011 Qing Ying (Bao) Zi No. 0010) (hereinafter referred to as “Guarantee Contract”)
with Agricultural Development Bank of China, Daqing Branch (hereinafter referred to “Principal Creditor”). Under
the Guarantee Contract, Party B provides security for a loan of short-term working capital for industry leading enterprises
at the amount of RMB 50 million under a Loan Agreement between the Principal Debtor and the Principal Creditor (Contract No:
23060500-2011 (Qing Ying) Zi No. 0012)(hereinafter referred to as “Principal Contract”).

 

In order to secure the realization of Party
B’s security creditor’s rights, Party A hereby provides a pledge as counter security. To clarify the two parties’
rights and obligations, based on General Principles of the Civil Law, Contract Law of the People’s Republic of China, Security
Law of the People’s Republic of China, Property Law and related laws, regulations and judicial interpretations, Party A and
Party B enter this contract through consultation.

 

The “Pledge” in this contract
refers to pledge of movables and pledge of rights under the Security Law; “Pledged Assets” refers to movable properties
and rights (vouchers) that are permitted to be pledged under the Security Law.

 

Article 1 Party A’s Presentations
and Covenants

 

    	1

    	 

    

 

		1.1	Party A has the legal qualification of Pledger pursuant to laws and regulations.

 

		1.2	Party A is willing to provide Pledge of stock of corn of 20,000 tons, to which Daqing
BoRun Biotechnology Co., Ltd. enjoys proprietary rights or disposing rights, as counter security, and obtain registration.
Pledged Assets are specified in the List of Pledged Assets (as attached) under this contract, which constitutes an integral part
of this contract. This contract expresses the authentic intents of the parties. In case of any circumstances that Party B bears
security liabilities and exercises recourse right to the Principal Debtor, Party A will bear counter security liabilities by the
Pledged Assets to protect Party B’s interests according to laws.

 

		1.3	The Pledged Assets under this contract are permitted by laws to be used for Pledge, so that Party
B’s pledge rights are ensured to be realized smoothly.

 

		1.4	Party B enjoys priority right of compensation to the Pledged Assets under this contract according
to laws; in addition, if Party A pledges its entire equity interests, Party A shall also bear the compensation liabilities with
all the assets owned by it (regardless of location).

 

		1.5	Party A’s execution of this contract complies with relevant laws, regulations and its internal
rules; Party A’s Pledge of the Pledged Assets under this contract has obtained internal consent of Party A and approval from
relevant governmental authorities.

 

		1.6	Party A shall obtain the consent on the foregoing Pledge issue from the shareholders’ meeting
(board of directors) of the Principal Debtor within five working days after this contract’s execution, meanwhile go through
registration formalities with relevant governmental authorities or deliver the Pledged Assets to Party B’s possession, and
deliver certificate of rights to Party B’s custody.

 

Article 2 Scope of Counter Security Pledge

 

2.1 The principal, interests, penalty interests
(overdue interests), compound interests, compensations for losses, liquidated damages of debtor, expenses of pledging assets and
expenses incurred to the Principal Creditor for realizing creditor’s rights etc., which shall be borne by Party B to the
Principal Creditor according to the Security Contract as security liabilities, as well as repaid money use fee which shall be paid
by the Principal Debtor to Party B. Repaid money use fee shall be calculated on the basis of all debts repaid by Party B at the
rate of 0.05% per day since the repayment day.

 

2.2 Security fee, overdue interests, other
expenses etc. under the Security Contract;

 

2.3 After Party B repays the amount under
the Principal Contract for the Principal Debtor, interests, penalty interests, liquidated damages, compensations for losses and
other expenses (including but not limited to attorney’s fee, litigation (arbitration) fee, travel and accommodation cost,
investigation fee, appraisal fee, evaluation fee, translation fee, subsidy for witness etc.) incurred by Party B when exercising
recourse right with relevant debtors;

 

    	2

    	 

    

 

2.4 Expenses arising from Party B realizing
the pledge right under this contract, including but not limited to: litigation fee, arbitration fee, property preservation fee,
attorney’s fee, evaluation fee, auction fee, enforcement fee, agency fee, notary fee, consultation fee, travel and accommodation
cost, investigation fee, appraisal fee, translation fee and subsidy for witness etc.

 

Article 3 Delivery of Pledged Assets

 

3.1 Pledged Assets under this contract
shall be delivered by Party A to Party B’s custody simultaneously with execution of this contract. Party A shall expressly
inform Party B of any flaw of the Pledged Assets. If Party A fails to deliver the Pledged Assets at the prescribed time and therefore
causes losses to Party B, Party A shall undertake compensation liabilities.

 

3.2 If the Pledger provides Pledge by properties
it indirectly possesses, the pledge contract is deemed delivered when a written notice is delivered to the possessor. If the possessor
still disposes of the Pledged Assets according to the Pledger’s direction after the possessor receives the notice of pledge,
such behavior is invalid.

 

3.3 In case of discrepancy between the
prescribed Pledged Assets and the actually delivered Pledged Assets, this contract only becomes effective when all prescribed Pledged
Assets are delivered.

 

3.4 Pledge right of movables effects to
the accessory things and statutory fruits. Accessory things must be delivered to Party B simultaneously.

 

3.5 If the Pledge is provided by money
order, cheque, promissory note or company’s bond, they are only be able to be delivered after endorsed by the Pledger and
Pledgee with the sign of “Pledge”.

 

Article 4 Agreements on Pledged Assets

 

4.1 Please refer to the List of Pledged
Assets for details of the Pledged Assets.

 

4.2 The value of Pledged Assets agreed
upon by the two parties at the execution of this contract shall not be the basis of evaluation when Party B disposing of such Pledged
Assets and shall not impose any restriction on Party B’s exercise of the pledge right.

 

4.3 Party A shall provide Party B certification
documents indicating that the Pledged Assets are legally owned by Party A or under Party A’s rightful disposition.

 

4.4 If Party A provides the pledge of charging
rights to Party B, Party A shall open a charging account for special fund and special usage at a bank designated by Party B before
the execution of this contract. All charges shall be remitted to such account. After Party B obtains the recourse right to Party
A, it has the right to be compensated in priority from the whole fund in such account. Please refer to article 13 of this contract
“Other Issues Agreed upon by the Two Parties” for details.

 

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4.5 After the Principal Debtor fully repays
the principal debt and Party B’s security liabilities are relieved, Party B shall timely return the Pledged Assets and other
related materials to Party A, or release the supervision and management to the charging account.

 

4.6 Where laws and regulations stipulate
or the two parties agree that registration of pledge is required, the two parties shall go through the registration formalities
of pledge with relevant local pledge registration authorities within 15 days after this contract’s execution.

 

4.7 In case of any change to the registered
items of pledge and modification registration is legally required; the two parties shall go through modification registration formalities
with relevant local pledge registration authorities within 15 days after the change of registered items.

 

Article 5 Insurance

 

5.1 Within 15 days after this contract’s
execution, Party A shall obtain property insurances of fundamental and additional risks for the Pledged Assets from related insurance
company; insurance period shall not be shorter than the duration of counter security; insurance amount shall not be lower than
the evaluation of Pledged Assets; the insurant shall be Party B and the insurance policy shall be kept by Party B.

 

5.2 If Party B can not be made insurant,
it shall be indicated in the insurance policy that Party B shall collect the insurance compensation in case of insurance claim,
and no provision in the insurance policy could restrict Party B’s rights and benefits.

 

5.3 During the term of this contract, Party
A shall not suspend or terminate the insurance policy for any reason.

 

5.4 During the term of this contract, in
case of any insurance accident happened to the Pledged Assets, the insurance compensation shall be used for prior repayment to
Party B, and Party B may use it for prior repayment to the Principal Creditor, or keep it as security fund, or use it to restore
the value of the Pledged Assets.

 

Article 6 Realization of the Pledge Right

 

6.1 If the Principal Debtor fails to repay
the principal, interests and other related expenses to the Principal Creditor according to the Principal Contract, upon Party B’s
partial or full repayment for the Principal Debtor of the foregoing amount to the Principal Creditor, Party B has the right to
realize the right of pledge and dispose of the Pledged Assets for compensation to the amount repaid by Party B.

 

6.2 When realizing the right of pledge,
Party B has the right to, according to laws, use the Pledged Assets in discount to set off the debt or sell the Pledged Assets
at an auction or otherwise in order to be compensated in priority from the selling proceeds, or directly become compensated in
priority from the fund of the special charging account.

 

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6.3 Where Party A provides the Pledge by
the charging right, Party A may ordinarily dispose of the fund of the charging account. In case of the Principal Debtor’s
failure to repay pursuant to contract, Party B will control the charging account and Party A may dispose of the fund of the charging
account only after obtaining Party B’s written permit. If the Principal Debtor fails to repay the loan and Party B undertakes
security liabilities to the Principal Creditor, Party B has the right to forbid Party A’s disposition of the fund of the
charging account and to apply for property preservation to the charging account according to laws.

 

6.4 When Party B disposes of the Pledged
Assets pursuant to this contract, Party A shall provide cooperation and shall not pose any obstacles

 

6.5 Before Party B recovers the full repaid
amount from the Principal Debtor, Party B constantly enjoys the pledge right and Party A is constantly imposed the security liabilities
of pledge.

 

Article 7 Prior Repayment or Escrow

 

7.1 In case of any change due to objective
circumstances, the Pledged Assets shall be reasonably and timely treated pursuant to the following provisions in order to ensure
the maximization of the Pledged Assets’ values. The following circumstances are included but not limited to:

 

7.1.1 Where value of the Pledged Assets
may be impaired because of the nature of the Pledged Assets (except for natural impairment), Party A has the obligation to provide
security corresponding to the impaired value, otherwise Party B has the right to dispose of the Pledged Assets in order to make
prior repayment for the secured creditor’s right or make it in third party’s escrow. Escrow expenses shall be borne
by Party A.

 

7.1.2 During the term of the contract,
if Party A needs to transfer the pledged rights (including charging right), Party B’s written consent is required, and the
obtained proceeds of transfer and license shall be used to make prior repayment for the secured creditor’s right or make
it in third party’s escrow. Escrow expenses shall be borne by Party A.

 

7.2 Unless otherwise specifically agreed
by the two parties, the foregoing escrow organ shall be a notary organ designated by Party B.

 

Article 8 Party A’s Right and Obligation

 

8.1 To bear related expenses and expenditure
under this contract, including but not limited to the expenses for attorney’s service, property insurance, appraisal, evaluation,
registration, ownership transfer, safekeeping, escrow and litigation.

 

8.2 If any of the following circumstances
occur to Party A, it is obliged to inform Party B in writing 30 days beforehand:

 

j change
of operation mechanism, such as contracting, lease, joint venture, merger, split-up, cooperation with foreign investors
etc; 

 

    	5

    	 

    

 

k
change of business scope and registered capital, change of the nature of legal person;

 

l
involving economic disputes and litigations;

 

m
disputes relating to the Pledged Assets;

 

n
suspension, dissolution, rectification, legal person qualification or business operation permit being cancelled;

 

o
change of domicile, telephone, legal representative etc.

 

8.3 Party A agrees that in the duration
of counter security, Principal Creditor or Party B may transfer the creditor’s right to third party without prior written
consent of Party A, and Party A shall continue to bear security liabilities of pledge within the original scope of pledge.

 

8.4 After the execution of this contract,
in case company change circumstances such as merger and split-up occur to Party B, Party A shall continue to bear security liabilities
to the assignee of this contract’s rights by the Pledged Assets within the original scope of pledge.

 

Article 9 Party B’s Rights and Obligations

 

9.1 In case of the occurrence of any item
within the scope of pledge under Article 3 of this contract, Party B has the right to dispose of the Pledged Assets under this
contract.

 

9.2 Party B has the right to request assistance
from Party A lest the pledge right is impaired by any third party.

 

9.3 After fully repaying the debts within
the scope of pledge under this contract with the proceeds from Party B’s disposition of the Pledged Assets, remaining proceeds
(if any) shall be returned to Party A.

 

9.4 In the duration of the pledge right,
upon the Pledger’s consent, Party B may reasonably use the Pledged Assets. In case the Pledged Assets is damaged because
of Party B’s improper use, Party B shall bear corresponding compensation liabilities.

 

Article 10 Liabilities for Breach of Contract

 

10.1 In case of this contract’s ineffectiveness
or other consequence due to Party A’s fault, Party A shall pay liquidated damages at the amount of 10% of the secured amount
actually borne by Party B at the mature date of the Principal Contract. In addition, in case of any loss incurred by Party B because
of the repayment for Party A, Party A shall bear all compensation liabilities.

 

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10.2 Both Party A and Party B shall perform
the obligations under the contract. If any party fails to fully or partially perform the obligations under this contract, such
party shall bear corresponding breaching liabilities and compensate any loss of the other party arising therefrom.

 

10.3 In case of any of the following circumstances,
Party B has the right to refuse to execute the Guarantee Contract for the Principal Creditor or to unilaterally terminate the Guarantee
Contract, and all legal liabilities arising therefrom shall be borne by Party A:

 

j
Party A fails to deliver the Pledged Assets to Party B pursuant to the contract;

 

k
Party A fails to open a charging account for special fund and special usage and maintain the agreed balance of the account pursuant
to the contract;

 

l
Party A’s pledge of the foregoing Pledged Assets fails to obtain the approval from relevant governmental authorities and
therefore this contract fails to become effective;

 

m
this contract fails to become effective because pledge registration can not be obtained.

 

Article 11 Effectiveness of the Contract

 

11.1 This contract becomes effective on
the date when the Pledged Assets is delivered to Party B with the two parties’ signatures and official seals.

 

11.2 If approval and registration formalities
are required to be gone through by relevant laws and regulations, this contract shall become effective on the date when the approval
is obtained from relevant governmental authorities and pledge registration is completed with relevant pledge registration organ.

 

Article 12 Dispute Resolution

 

12.1 The execution, effectiveness, interpretation,
performance and dispute resolution of this contract are governed by the laws of the people’s republic of china.

 

12.2 Disputes between Party A and Party
B arising from the performance of this contract shall be resolved through the two parties’ negotiation; if the negotiation
fails to resolve the dispute, a lawsuit shall be filed with the people’s court of Party B’s location.

 

Article 13 Other Issues Agreed upon by the
Two Parties

 

13.1 In case Party A fails to perform or
fully perform security liabilities, Party B may apply for enforcement according to laws.

 

13.2  ___________________________________/
_____________________________________

 

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13.3__________________________________  / _________________________________

 

Article 14 Schedules

 

14.1 Schedules of this contract are an
integral part of this contract and have the same legal effect to this contract.

 

14.2 Schedules of this contract include:
nList of Pledged Assets; nResolution of
Shareholders’ Meeting (Board of Directors); nCertification of Equity Interests;

oOthers________________________ / ______________________

 

Article 15 Miscellaneous

 

14.1 This contract is executed in three
counterparts. Party A, Party B and registration authorities will hold each one of them. The counterparts of the contract
have the same legal effect.

 

Article 16 Special Attention

 

Party B has requested for Party A’s
attention to make full and accurate understanding of the meaning and legal consequence of each provision of this contract, and
has explained corresponding provisions at the request of Party A. The two parties do not have disagreement on the understanding
of the provisions of this contract. If Party A is a natural person who has spouse, Party A’s pledge shall obtain consent
from its spouse, who has fully learned about and understand all the provisions of this contract.

 

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<This page is intentionally left blank>

 

Official Seal of Party A (Pledger):

 

Legal Representative (signature):

 

(Or Authorized Agent)

 

Official Seal of Party B (Pledgee):

 

Legal Representative (signature):

 

(Or Authorized Agent)

 

July 1, 2011

 

    	9

    	 

    

 

Under the Counter Security Pledge Contract
(Contract No. Zhong Lv Bao Zhi Zi 2011 No. 009-2):

 

List of Pledged Assets

	Unit: RMB10000
	No.	 	Name of Pledged Assets	 	Model	 	Unit	 	Quantity	 	Status of

 Pledged

 Assets	 	No. of

 Right’s

 Voucher	 	Original Value

 of Pledged

 Assets	 	Determined

 Value of Pledged

 Assets	 	Remark
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	1	 	Stock of corn of Daqing BoRun Biotechnology Co., Ltd.	 	 	 	Ton	 	20000	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Aggregate Amount:	 	——	 	——	 	———-	 	———-	 	———-	 	 	 	 	 	———

 

	Pledger (official seal):	Pledgee (official seal):
	 	 
	Legal Representative (signature):	Legal Representative (signature):
	 	 
	(Or Authorized Agent)	(Or Authorized Agent)
	 	 
	July 1, 2011	July 1, 2011

  

    	10

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