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<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The accompanying unaudited condensed consolidated
financial statement (“statements”) have been prepared in accordance with generally accepted accounting principles for
interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly,
they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial
statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for
a fair presentation have been included.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Operating results for the period are not necessarily
indicative of the results that may be expected for the full year. These statements should be read in conjunction with the consolidated
financial statements and footnotes thereto included in Yasheng Group's Form 10-K. The statements are prepared in accordance with
accounting principles generally accepted in the United States of America (“US GAAP”). All necessary adjustments have
been made to present the financial statements in accordance with US GAAP.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Yasheng Group (“The Company”) is
a California corporation with primary operations in China. The Company produces and markets high-quality farming and sideline products
including livestock and poultry. It also designs, develops and markets new technologies related to agriculture.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Product offerings include 30+ major agriculture
goods under 6 major product categories which include: <b><i>field crops:</i></b> cotton, corns, barley, wheat, flax, alfalfa; <b><i>vegetables:</i></b>
onions, potatoes, beet, and peas; <b><i>fruit trees:</i></b> apples, pears, apricots; <b><i>specialty crops:</i></b> hops, wolfberries,
cumin, liquorices; <b><i>seeds:</i></b> black melon seeds, sunflower seeds, corn seeds, Hemp Seeds, flax seeds; <b><i>poultry:</i></b>
eggs. </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Yasheng sells its products through an extensive
nationwide sales and distribution network covering 18 provinces and over 100 cities in China. Products are also sold directly to
food processors as well as processed internally by the company and then resold to supermarkets or other distributors, or further
processed for retail food distribution. The Company also sells many of its products fresh within Gansu province as well as
nationally to food processors and distributors, or directly to supermarkets. Customers are based primarily in China and include
national and international leading companies. Products are also sold as feed for livestock, ingredients for Chinese traditional
medicines as well as other important ingredients in the food industry.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">(a)</font></td>
<td style="width: 97%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Accounting standards</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The consolidated financial statements have been prepared on a historical
cost basis to reflect the financial position and results of operations of the Company in accordance with accounting principles
generally accepted in the United States of America.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">(b)</font></td>
<td style="width: 97%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Fiscal year</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company’s fiscal year ends on the 31st of December of each
calendar year.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">(c)</font></td>
<td style="width: 97%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Consolidation</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The consolidated financial statements include the accounts of the
Company and its subsidiaries. All material intercompany balances and transactions have been eliminated.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">(d)</font></td>
<td style="width: 97%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Use of estimates</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company’s discussion and analysis of its financial condition
and results of operations are based upon its consolidated financial statements, which have been prepared in accordance with accounting
principles generally accepted in the United States. The preparation of these financial statements requires the Company to make
estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure
of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates based on historical experience
and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis
for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual
results may differ from these estimates under different assumptions or conditions.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">  </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">(e)</font></td>
<td style="width: 97%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Revenue recognition</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">We mainly sell food products.  We recognize revenue when
title and risk of loss are transferred to our customers.  This generally happens upon delivery of our products.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">(f)</font></td>
<td style="width: 97%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Shipping and handling costs</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company records outward freight, purchasing and receiving costs
in selling expenses; inspection costs and warehousing costs are recorded as general and administrative expenses.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">(g)</font></td>
<td style="width: 97%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Cash and cash equivalents</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Cash and cash equivalents include cash on hand, demand deposits held
by banks, and securities with maturities of three months or less. The Company considers all highly liquid investments with an original
maturity of three months or less when purchased to be cash equivalents. Cash equivalents are composed primarily of investments
in money market accounts stated at cost, which approximates fair value.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">(h)</font></td>
<td style="width: 97%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Inventories</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Inventories are recorded using the weighted average method and are
valued at the lower of cost or market.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">(i)</font></td>
<td style="width: 97%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Accounts receivable, net</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The carrying amount of accounts receivable is reduced by a valuation
allowance that reflects the Company’s best estimate of the amounts that will not be collected. In addition to reviewing delinquent
accounts receivable, the Company considers many factors in estimating its general allowance, including aging analysis, historical
bad debt records, customer credit analysis and any specific known troubled accounts.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">(j)</font></td>
<td style="width: 97%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Property, plant and equipment</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Property, plant and equipment are carried at cost less accumulated
depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful
lives of the assets. Amortization of leasehold improvements is calculated on a straight-line basis over the life of the asset or
the term of the lease, whichever is shorter. Major renewals and betterments are capitalized and depreciated; maintenance and repairs
that do not extend the life of the respective assets are charged to expense as incurred. Upon disposal of assets, the cost and
related accumulated depreciation are removed from the accounts and any gain or loss is included in income. Depreciation related
to property and equipment used in production is reported in cost of sales. Property and equipment are depreciated over their estimated
useful lives as follows:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 32%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Buildings and improvements </font></td>
<td style="width: 68%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">20 - 40 years</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 32%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Farming facilities </font></td>
<td style="width: 68%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">10 years</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 31%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Machinery and equipment </font></td>
<td style="width: 69%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">7 years</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 32%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Transportation and other facilities </font></td>
<td style="width: 68%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">3 - 15 years</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Long-term assets of the Company are reviewed annually to assess whether
the carrying value has become impaired, according to the guidelines established in Statement of Accounting Standards (SFAS) No.
144, "Accounting for the Impairment of Disposal of Long-Lived Assets." The Company also evaluates the periods of amortization
to determine whether subsequent events and circumstances warrant revised estimates of useful lives. No impairment of assets was
recorded in the periods reported.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">  </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td style="vertical-align: bottom; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-top: white 1pt solid; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">03/31/2015</font></td>
<td style="vertical-align: top; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-top: white 1pt solid; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">03/31/2014</font></td>
<td style="vertical-align: top; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td></tr>
<tr>
<td style="vertical-align: bottom"> </td>
<td style="vertical-align: top"> </td>
<td colspan="2" style="vertical-align: bottom"> </td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top"> </td>
<td colspan="2" style="vertical-align: bottom"> </td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; width: 64%; text-align: center"><font style="font-size: 8pt">Buildings and improvements</font></td>
<td style="vertical-align: top; width: 1%; text-align: right"> </td>
<td style="vertical-align: top; width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 15%; text-align: right"><font style="font-size: 8pt">  122,270,094</font></td>
<td style="vertical-align: top; width: 1%"> </td>
<td style="vertical-align: top; width: 1%; text-align: right"> </td>
<td style="vertical-align: top; width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 15%; text-align: right"><font style="font-size: 8pt">  114,271,116</font></td>
<td style="vertical-align: top; width: 1%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">Farming facilities</font></td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right"><font style="font-size: 8pt">   109,733.203</font></td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right"><font style="font-size: 8pt">   102,554,395</font></td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">Machinery and equipment</font></td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">14,884,058</font></td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">13,910,335</font></td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">Transportation</font></td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">353,861,690</font></td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">326,951,346</font></td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">Windbreak and Sand-break Trees</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">430,237,964</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">402,091,555</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">Total</font></td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,030,987,009</font></td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">959,778,748</font></td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; text-indent: -9pt"><font style="font-size: 8pt">Less: Accumulated Depreciation and amortization</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">118,299,457</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">105,819,463</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; padding-bottom: 3pt; text-align: center"><font style="font-size: 8pt">Net</font></td>
<td style="vertical-align: top; padding-bottom: 3pt; text-align: right"> </td>
<td style="vertical-align: top; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="vertical-align: top; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">912,687,552</font></td>
<td style="vertical-align: top; padding-bottom: 3pt"> </td>
<td style="vertical-align: top; padding-bottom: 3pt; text-align: right"> </td>
<td style="vertical-align: top; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="vertical-align: top; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">853,959,285</font></td>
<td style="vertical-align: top; padding-bottom: 3pt"> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"><font style="font-size: 8pt">(k)</font></td>
<td style="width: 97%"><font style="font-size: 8pt">Intangible assets</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Intangible assets consist of land use rights and are recorded at
cost. Under PRC’s current property rights regime, use rights for specified periods (e.g., 40 to 70 years) can be obtained
from the state through the up-front payment of land use fees. The fees are determined by the location, type and density of the
proposed development. This separation of land ownership and use rights allows the trading of land use rights while maintaining
state ownership of land. The Company has over 300,000 acres of agriculture land that are utilized for grazing, cultivation, and
reclamation, of which 65,000 acres are under cultivation using the latest scientific technologies to produce a wide variety of
agricultural products.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"><font style="font-size: 8pt">(l)</font></td>
<td style="width: 97%"><font style="font-size: 8pt">Impairment of long-lived assets</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The carrying amounts of long-lived assets are reviewed for impairment
whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability
of assets to be held and used is evaluated by a comparison of the carrying amount of assets to future undiscounted net cash flows
expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured
by the amount by which the carrying amounts of the assets exceed the fair value of the assets. Assets to be disposed of are reported
at the lower of the carrying amount or fair value less cost to sell.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"><font style="font-size: 8pt">(m)</font></td>
<td style="width: 97%"><font style="font-size: 8pt">Investments</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Investments consist primarily of less than 20% equity positions in
non-marketable securities and are recorded at lower of cost or market.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"><font style="font-size: 8pt">(n)</font></td>
<td style="width: 97%"><font style="font-size: 8pt">Foreign currency translation</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The accompanying financial statements are presented in United States
(US) dollars. The functional currency is the Renminbi (“RMB”). The financial statements are translated into US dollars
from RMB at year-end exchange rates for assets and liabilities, and weighed average exchange rates for revenues and expenses. Capital
accounts are translated at their historical exchange rates when the capital transactions occurred.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Gains and losses resulting from foreign currency translation are
recorded in a separate component of shareholders’ equity. Foreign currency translation adjustments are included in accumulated
other comprehensive income in the consolidated statements of shareholders’ equity for the years presented.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">RMB is not freely convertible into the currency of other nations.
All such exchange transactions must take place through authorized institutions. There is no guarantee the RMB amounts could have
been, or could be, converted into US dollars at rates used in translation.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"><font style="font-size: 8pt">(o)</font></td>
<td style="width: 97%"><font style="font-size: 8pt">Income taxes</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">As an agricultural enterprise, the Company and all of its agricultural
subsidiaries are exempted from enterprise income taxes with approval from the Gansu Provincial Bureau of Local Taxation. The only
non-agricultural subsidiary, Baiyin Cement Plant, has suffered net loss for the years shown and therefore has no applicable taxable
income. Because of the uncertainty of future profits, no deferred tax assets have been set up at this time.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"><font style="font-size: 8pt">(p)</font></td>
<td style="width: 97%"><font style="font-size: 8pt">Earnings per share</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Basic earnings per share are computed using the weighted average
number of common shares outstanding during the year. Diluted earnings per share are computed using the weighted average number
of common and, if dilutive, potential common shares outstanding during the year. The Company has no potentially dilutive shares
for the periods shown.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"><font style="font-size: 8pt">(q)</font></td>
<td style="width: 97%"><font style="font-size: 8pt">Economic and Political Risks</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company faces a number of risks and challenges as a result of
having primary operations and markets in the PRC. Changing political climates in the PRC could have a significant effect on the
Company's business.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"><font style="font-size: 8pt">(r)</font></td>
<td style="width: 97%"><font style="font-size: 8pt">Advertising expense</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company records advertising expenses in the period incurred.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"><font style="font-size: 8pt">(s)</font></td>
<td style="width: 97%"><font style="font-size: 8pt">Comprehensive income</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Comprehensive income is defined as the change in equity of a company
during a period from transactions and other events and circumstances excluding transactions resulting from investments from owners
and distributions to owners. Accumulated other comprehensive income, as presented on the accompanying consolidated balance sheets,
consists of mainly the cumulative foreign currency translation adjustment.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"><font style="font-size: 8pt">(t)</font></td>
<td style="width: 97%"><font style="font-size: 8pt">Recently issued accounting standards</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Recent Accounting Guidance Not Yet Adopted</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In May 2014, as part of its ongoing efforts to assist in the convergence
of U.S. GAAP and International Financial Reporting Standards, the Financial Accounting Standards Board (FASB) issued a new standard
related to revenue recognition.  Under the new standard, recognition of revenue occurs when a customer obtains control
of promised goods or services in an amount that reflects the consideration which the entity expects to receive in exchange for
those goods or services.  In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty
of revenue and cash flows arising from contracts with customers.  The new standard will be effective for us beginning
in 2017, and early adoption is not permitted.  We are currently evaluation the impact of this st5andard on our consolidated
financial statements.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In April 2015, the FASB issued guidance to simplify
the presentation of debt issuance costs.  This new guidance requires that debt issuance costs related to a recognized
debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent
with debt discounts.  This new guidance will be effective in 2016.  We are currently evaluating the impact
of this standard on our consolidated financial statements.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 3%"><font style="font-size: 8pt">(u)</font></td>
<td style="width: 97%"><font style="font-size: 8pt">Value added tax (VAT)</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Value added tax is a consumption tax levied on value added. While
the standard VAT rate in PRC is 17%, the Company's agricultural subsidiaries enjoy a reduced VAT rate of 4%.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The major classes of inventory: raw materials, packaging materials,
products in process, finished goods, stocks, low-value consumable goods, materials in transit as well as others.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The following is a breakdown of the major categories of inventories.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Inventory Breakdown</b></font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"><b>As of 3/31/2015</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"><b>As of 3/31/2014</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 54%; text-align: center"><font style="font-size: 8pt">Raw material</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 20%; text-align: right"><font style="font-size: 8pt">67,463,960</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 20%; text-align: right"><font style="font-size: 8pt">66,141,137</font></td>
<td nowrap="nowrap" style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="text-align: center"><font style="font-size: 8pt">Finished goods</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">180,593,123</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">175,502,312</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: center"><font style="font-size: 8pt">Low value consumable goods</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">45,953,618</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">45,052,567</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="text-align: center"><font style="font-size: 8pt">Packaging material</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">30,101,978</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">29,511,743</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: center"><font style="font-size: 8pt">Maintenance material</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">15,777,758</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">15,468,390</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="text-align: center"><font style="font-size: 8pt">Total</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">339,890,437</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">331,676,149</font></td>
<td nowrap="nowrap"> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company’s subsidiaries in China participate in a government-mandated
multi-employer defined contribution plan pursuant to which certain retirement, medical and other welfare benefits are provided
to employees. Chinese labor regulations require the Company’s subsidiaries to pay to the local labor bureau a monthly contribution
at a stated contribution rate based on the monthly basic compensation of qualified employees. The relevant local labor bureau is
responsible for meeting all retirement benefit obligations; the Company has no further commitments beyond its monthly contribution.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Pursuant to the laws applicable to China’s Foreign Investment
Enterprises, each of the Company’s subsidiaries in China allow make appropriations from its after-tax profit to non-distributable
reserve funds as determined by the Board of Directors. These reserve funds include a (i) general reserve, (ii) enterprise expansion
fund and (iii) staff bonus and welfare fund. The general reserve fund requires annual appropriations of 10% of after-tax profit
(as determined under PRC GAAP) until these reserves equal 50% of the amount of paid-in capital; the other fund appropriations are
at the Company’s discretion. Payment to the statutory general reserve fund is at the Company discretion. Allocations
to these statutory reserve funds can only be used for specific purposes and are not transferable to us in the form of loans, advances
or cash dividends.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The operations of the Company are substantially located in the PRC
and accordingly, investing in the shares of the Company is subject to among others, the PRC’s political, economic and legal
risks.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company and all of its agricultural subsidiaries are exempt from
income taxes in the PRC. The Company has not filed an income tax return in the US.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company obtains secured lending from the banks using two types
of arrangements, collateral and guarantee. Collateral are loans secured against the assets of the Yasheng Group, while guarantee
are loans provided with the guarantee from a third party.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company provides the following benefits for all employees:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">A. Employee Welfare Fund: An amount equal to 14% of payroll is set
aside by the Company for standard employee benefits. This fund is managed and controlled by the Company. All required payments
current.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">B. Open Policy Pension: The Company pays to national and community
insurance agents an amount equal to 20% of payroll. This insurance continues to cover the employee subsequent to retirement.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">C. Unemployment Insurance: The Company pays to the national employment
administrative entities an amount equal to 1% of payroll. Any dismissed employee thereby receives a specified amount of family-support
funds for a designated period.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">D. Housing Surplus Reserve: The Company pays to the national housing
fund administrative entities an amount equal to 10% of payroll for deposit into the employees' future housing allowance accounts.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The aforesaid items are for employee's benefits and should be accounted
for as the Company's expenses.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company has no operating leases for the periods shown.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In its operation of the business, management, including upper management
and the board of director’s, reviews certain information as it relates to the Company as a whole.  The information most
used and useful is the profitability by subsidiary.  Accordingly, these are the segments which are presented in the table
below.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><b> </b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><b>Breakdown by Subsidiary   
Unit: US Dollar</b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Net Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Net Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Cost of Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Cost of Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Gross Profit</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Gross Profit</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td><font style="font-size: 8pt">Subsidiaries</font></td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 34%"><font style="font-size: 8pt">Gansu Tiaoshan Agricultural-Industrial-Commercial Group Co., Ltd</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">51,070,601</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">50,870,112</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">45,972,220</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">45,779,409</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">5,098,092</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">5,089,234</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 8pt">Gansu Tiaoshan Agricultural-Industrial-Commercial Group Co., Ltd</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">49,444,537</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">49,250,432</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">43,662,026</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">43,478,856</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">5,782,276</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">5,772,229</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 8pt">Gansu Hongtai Agricultural Technology Co., Ltd. </font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">28,865,148</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">28,751,832</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">27,102,040</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">26,988,342</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">1,762,981</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">1,759,918</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 8pt">Gansu Xiaheqing Industrial Co., Ltd.</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">4,699,751</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">4,681,301</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">4,146,232</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">4,128,838</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">553,497</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">552,535</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 8pt">Gansu Jinta Hengsheng Agricultural Development Co., Ltd.</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">25,886,476</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">25,784,853</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">23,108,405</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">23,011,461</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">2,777,949</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">2,773,122</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 8pt">Gansu Jinta Xingsheng Industrial Co., Ltd.</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">25,307,674</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">25,208,323</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">21,796,408</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">21,704,968</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">3,511,143</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">3,505,042</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 8pt">Gansu Jinta Yongsheng Agricultural Development Company.</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">24,500,425</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">24,404,243</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">20,956,678</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">20,868,761</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">3,543,677</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">3,537,520</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Gansu Jinta Yuantai Commercial Trading Co., Ltd.  </font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">261,454</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">260,428</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">262,784</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">261,682</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-344</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-343</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 3pt"><font style="font-size: 8pt">Totals for Quarter</font></td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">210,036,064</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">209,211,523</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">187,006,793</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">186,222,266</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">23,029,272</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">22,989,257</font></td>
<td style="padding-bottom: 3pt"> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><br />
Other segments that assist management in its analysis of the company's performance are the segments by product group, namely, agriculture,
livestock and biotechnology.  The following table contains that breakout of gross profit by product group.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"><b>3 months ended 3-31-2015</b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Cost of Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Cost of Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Gross Profit</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Gross Profit</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Gross Profit %</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Gross Profit %</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 20%"><font style="font-size: 8pt">Agriculture</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">208,308,014</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">207,490,256</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">185,370,473</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">184,592,811</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">23,442,903</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">22,897,445</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">11.25</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">11.04</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 8pt">Livestock</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">371,128</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">369,671</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">352,285</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">350,807</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">19,314</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">18,865</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">5.2</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">5.1</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Biotechnology</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,356,923</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,351,596</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,284,036</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,278,649</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">74,685</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">72,947</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">5.5</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">5.4</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-bottom: 3pt"><font style="font-size: 8pt">Total for Quarter</font></td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">210,036,064</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">209,211,523</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">187,006,793</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">186,222,266</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">23,029,272</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">22,493,438</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid; padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">10.96</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">10.99</font></td>
<td style="padding-bottom: 3pt"> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The consolidated financial statements have been prepared on a historical
cost basis to reflect the financial position and results of operations of the Company in accordance with accounting principles
generally accepted in the United States of America.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company’s fiscal year ends on the 31st of December of each
calendar year.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The consolidated financial statements include the accounts of the
Company and its subsidiaries. All material intercompany balances and transactions have been eliminated.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company’s discussion and analysis of its financial condition
and results of operations are based upon its consolidated financial statements, which have been prepared in accordance with accounting
principles generally accepted in the United States. The preparation of these financial statements requires the Company to make
estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure
of contingent assets and liabilities. On an on-going basis, the Company evaluates its estimates based on historical experience
and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis
for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual
results may differ from these estimates under different assumptions or conditions.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">We mainly sell food products.  We recognize revenue when
title and risk of loss are transferred to our customers.  This generally happens upon delivery of our products.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company records outward freight, purchasing and receiving costs
in selling expenses; inspection costs and warehousing costs are recorded as general and administrative expenses.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Cash and cash equivalents include cash on hand, demand deposits held
by banks, and securities with maturities of three months or less. The Company considers all highly liquid investments with an original
maturity of three months or less when purchased to be cash equivalents. Cash equivalents are composed primarily of investments
in money market accounts stated at cost, which approximates fair value.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Inventories are recorded using the weighted average method and are
valued at the lower of cost or market.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The carrying amount of accounts receivable is reduced by a valuation
allowance that reflects the Company’s best estimate of the amounts that will not be collected. In addition to reviewing delinquent
accounts receivable, the Company considers many factors in estimating its general allowance, including aging analysis, historical
bad debt records, customer credit analysis and any specific known troubled accounts.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Property, plant and equipment are carried at cost less accumulated
depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the estimated useful
lives of the assets. Amortization of leasehold improvements is calculated on a straight-line basis over the life of the asset or
the term of the lease, whichever is shorter. Major renewals and betterments are capitalized and depreciated; maintenance and repairs
that do not extend the life of the respective assets are charged to expense as incurred. Upon disposal of assets, the cost and
related accumulated depreciation are removed from the accounts and any gain or loss is included in income. Depreciation related
to property and equipment used in production is reported in cost of sales. Property and equipment are depreciated over their estimated
useful lives as follows:</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 32%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Buildings and improvements </font></td>
<td style="width: 68%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">20 - 40 years</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 32%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Farming facilities </font></td>
<td style="width: 68%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">10 years</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 31%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Machinery and equipment </font></td>
<td style="width: 69%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">7 years</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="width: 32%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">Transportation and other facilities </font></td>
<td style="width: 68%; font: 8pt Times New Roman, Times, Serif"><font style="font-size: 8pt">3 - 15 years</font></td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Long-term assets of the Company are reviewed annually to assess whether
the carrying value has become impaired, according to the guidelines established in Statement of Accounting Standards (SFAS) No.
144, "Accounting for the Impairment of Disposal of Long-Lived Assets." The Company also evaluates the periods of amortization
to determine whether subsequent events and circumstances warrant revised estimates of useful lives. No impairment of assets was
recorded in the periods reported.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">  </p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td style="vertical-align: bottom; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-top: white 1pt solid; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">03/31/2015</font></td>
<td style="vertical-align: top; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-top: white 1pt solid; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">03/31/2014</font></td>
<td style="vertical-align: top; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td></tr>
<tr>
<td style="vertical-align: bottom"> </td>
<td style="vertical-align: top"> </td>
<td colspan="2" style="vertical-align: bottom"> </td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top"> </td>
<td colspan="2" style="vertical-align: bottom"> </td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; width: 64%; text-align: center"><font style="font-size: 8pt">Buildings and improvements</font></td>
<td style="vertical-align: top; width: 1%; text-align: right"> </td>
<td style="vertical-align: top; width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 15%; text-align: right"><font style="font-size: 8pt">  122,270,094</font></td>
<td style="vertical-align: top; width: 1%"> </td>
<td style="vertical-align: top; width: 1%; text-align: right"> </td>
<td style="vertical-align: top; width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 15%; text-align: right"><font style="font-size: 8pt">  114,271,116</font></td>
<td style="vertical-align: top; width: 1%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">Farming facilities</font></td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right"><font style="font-size: 8pt">   109,733.203</font></td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right"><font style="font-size: 8pt">   102,554,395</font></td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">Machinery and equipment</font></td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">14,884,058</font></td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">13,910,335</font></td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">Transportation</font></td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">353,861,690</font></td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">326,951,346</font></td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">Windbreak and Sand-break Trees</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">430,237,964</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">402,091,555</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">Total</font></td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,030,987,009</font></td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">959,778,748</font></td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; text-indent: -9pt"><font style="font-size: 8pt">Less: Accumulated Depreciation and amortization</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">118,299,457</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">105,819,463</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; padding-bottom: 3pt; text-align: center"><font style="font-size: 8pt">Net</font></td>
<td style="vertical-align: top; padding-bottom: 3pt; text-align: right"> </td>
<td style="vertical-align: top; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="vertical-align: top; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">912,687,552</font></td>
<td style="vertical-align: top; padding-bottom: 3pt"> </td>
<td style="vertical-align: top; padding-bottom: 3pt; text-align: right"> </td>
<td style="vertical-align: top; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="vertical-align: top; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">853,959,285</font></td>
<td style="vertical-align: top; padding-bottom: 3pt"> </td></tr>
</table>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Intangible assets consist of land use rights and are recorded at
cost. Under PRC’s current property rights regime, use rights for specified periods (e.g., 40 to 70 years) can be obtained
from the state through the up-front payment of land use fees. The fees are determined by the location, type and density of the
proposed development. This separation of land ownership and use rights allows the trading of land use rights while maintaining
state ownership of land. The Company has over 300,000 acres of agriculture land that are utilized for grazing, cultivation, and
reclamation, of which 65,000 acres are under cultivation using the latest scientific technologies to produce a wide variety of
agricultural products.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The carrying amounts of long-lived assets are reviewed for impairment
whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability
of assets to be held and used is evaluated by a comparison of the carrying amount of assets to future undiscounted net cash flows
expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured
by the amount by which the carrying amounts of the assets exceed the fair value of the assets. Assets to be disposed of are reported
at the lower of the carrying amount or fair value less cost to sell.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Investments consist primarily of less than 20% equity positions in
non-marketable securities and are recorded at lower of cost or market.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The accompanying financial statements are presented in United States
(US) dollars. The functional currency is the Renminbi (“RMB”). The financial statements are translated into US dollars
from RMB at year-end exchange rates for assets and liabilities, and weighed average exchange rates for revenues and expenses. Capital
accounts are translated at their historical exchange rates when the capital transactions occurred.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Gains and losses resulting from foreign currency translation are
recorded in a separate component of shareholders’ equity. Foreign currency translation adjustments are included in accumulated
other comprehensive income in the consolidated statements of shareholders’ equity for the years presented.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">RMB is not freely convertible into the currency of other nations.
All such exchange transactions must take place through authorized institutions. There is no guarantee the RMB amounts could have
been, or could be, converted into US dollars at rates used in translation.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">As an agricultural enterprise, the Company and all of its agricultural
subsidiaries are exempted from enterprise income taxes with approval from the Gansu Provincial Bureau of Local Taxation. The only
non-agricultural subsidiary, Baiyin Cement Plant, has suffered net loss for the years shown and therefore has no applicable taxable
income. Because of the uncertainty of future profits, no deferred tax assets have been set up at this time.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Basic earnings per share are computed using the weighted average
number of common shares outstanding during the year. Diluted earnings per share are computed using the weighted average number
of common and, if dilutive, potential common shares outstanding during the year. The Company has no potentially dilutive shares
for the periods shown.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company faces a number of risks and challenges as a result of
having primary operations and markets in the PRC. Changing political climates in the PRC could have a significant effect on the
Company's business.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">The Company records advertising expenses in the period incurred.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Comprehensive income is defined as the change in equity of a company
during a period from transactions and other events and circumstances excluding transactions resulting from investments from owners
and distributions to owners. Accumulated other comprehensive income, as presented on the accompanying consolidated balance sheets,
consists of mainly the cumulative foreign currency translation adjustment.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Recent Accounting Guidance Not Yet Adopted</i></b></p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">In May 2014, as part of its ongoing efforts to assist in the convergence
of U.S. GAAP and International Financial Reporting Standards, the Financial Accounting Standards Board (FASB) issued a new standard
related to revenue recognition.  Under the new standard, recognition of revenue occurs when a customer obtains control
of promised goods or services in an amount that reflects the consideration which the entity expects to receive in exchange for
those goods or services.  In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty
of revenue and cash flows arising from contracts with customers.  The new standard will be effective for us beginning
in 2017, and early adoption is not permitted.  We are currently evaluation the impact of this st5andard on our consolidated
financial statements.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In April 2015, the FASB issued guidance to simplify
the presentation of debt issuance costs.  This new guidance requires that debt issuance costs related to a recognized
debt liability be presented in the balance sheet as a direct deduction from the carrying amount of the debt liability, consistent
with debt discounts.  This new guidance will be effective in 2016.  We are currently evaluating the impact
of this standard on our consolidated financial statements.</p>
<p style="font: 8pt Times New Roman, Times, Serif; margin: 0">Value added tax is a consumption tax levied on value added. While
the standard VAT rate in PRC is 17%, the Company's agricultural subsidiaries enjoy a reduced VAT rate of 4%.</p>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr>
<td style="vertical-align: bottom; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-top: white 1pt solid; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">03/31/2015</font></td>
<td style="vertical-align: top; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="vertical-align: bottom; border-top: white 1pt solid; border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">03/31/2014</font></td>
<td style="vertical-align: top; border-top: white 1pt solid; padding-bottom: 1.5pt"> </td></tr>
<tr>
<td style="vertical-align: bottom"> </td>
<td style="vertical-align: top"> </td>
<td colspan="2" style="vertical-align: bottom"> </td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top"> </td>
<td colspan="2" style="vertical-align: bottom"> </td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; width: 64%; text-align: center"><font style="font-size: 8pt">Buildings and improvements</font></td>
<td style="vertical-align: top; width: 1%; text-align: right"> </td>
<td style="vertical-align: top; width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 15%; text-align: right"><font style="font-size: 8pt">  122,270,094</font></td>
<td style="vertical-align: top; width: 1%"> </td>
<td style="vertical-align: top; width: 1%; text-align: right"> </td>
<td style="vertical-align: top; width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 15%; text-align: right"><font style="font-size: 8pt">  114,271,116</font></td>
<td style="vertical-align: top; width: 1%"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">Farming facilities</font></td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right"><font style="font-size: 8pt">   109,733.203</font></td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right"><font style="font-size: 8pt">   102,554,395</font></td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">Machinery and equipment</font></td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">14,884,058</font></td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">13,910,335</font></td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">Transportation</font></td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">353,861,690</font></td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">326,951,346</font></td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center"><font style="font-size: 8pt">Windbreak and Sand-break Trees</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">430,237,964</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right; text-indent: 0.25in"><font style="font-size: 8pt">402,091,555</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; text-align: center"><font style="font-size: 8pt">Total</font></td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">1,030,987,009</font></td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"> </td>
<td style="vertical-align: top"> </td>
<td style="vertical-align: top; text-align: right"><font style="font-size: 8pt">959,778,748</font></td>
<td style="vertical-align: top"> </td></tr>
<tr style="background-color: #CCEEFF">
<td style="vertical-align: bottom; padding-bottom: 1.5pt; text-align: center; text-indent: -9pt"><font style="font-size: 8pt">Less: Accumulated Depreciation and amortization</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">118,299,457</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: right"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid"> </td>
<td style="vertical-align: top; border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">105,819,463</font></td>
<td style="vertical-align: top; padding-bottom: 1.5pt"> </td></tr>
<tr style="background-color: white">
<td style="vertical-align: bottom; padding-bottom: 3pt; text-align: center"><font style="font-size: 8pt">Net</font></td>
<td style="vertical-align: top; padding-bottom: 3pt; text-align: right"> </td>
<td style="vertical-align: top; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="vertical-align: top; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">912,687,552</font></td>
<td style="vertical-align: top; padding-bottom: 3pt"> </td>
<td style="vertical-align: top; padding-bottom: 3pt; text-align: right"> </td>
<td style="vertical-align: top; border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="vertical-align: top; border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">853,959,285</font></td>
<td style="vertical-align: top; padding-bottom: 3pt"> </td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt"><b>Inventory Breakdown</b></font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"><b>As of 3/31/2015</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt"><b>As of 3/31/2014</b></font></td>
<td nowrap="nowrap" style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 54%; text-align: center"><font style="font-size: 8pt">Raw material</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 20%; text-align: right"><font style="font-size: 8pt">67,463,960</font></td>
<td nowrap="nowrap" style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 20%; text-align: right"><font style="font-size: 8pt">66,141,137</font></td>
<td nowrap="nowrap" style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="text-align: center"><font style="font-size: 8pt">Finished goods</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">180,593,123</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">175,502,312</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: center"><font style="font-size: 8pt">Low value consumable goods</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">45,953,618</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">45,052,567</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="text-align: center"><font style="font-size: 8pt">Packaging material</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">30,101,978</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">29,511,743</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: center"><font style="font-size: 8pt">Maintenance material</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">15,777,758</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">15,468,390</font></td>
<td nowrap="nowrap"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="text-align: center"><font style="font-size: 8pt">Total</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">339,890,437</font></td>
<td nowrap="nowrap"> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">331,676,149</font></td>
<td nowrap="nowrap"> </td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Net Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Net Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Cost of Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Cost of Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Gross Profit</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Gross Profit</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td><font style="font-size: 8pt">Subsidiaries</font></td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 34%"><font style="font-size: 8pt">Gansu Tiaoshan Agricultural-Industrial-Commercial Group Co., Ltd</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">51,070,601</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">50,870,112</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">45,972,220</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">45,779,409</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">5,098,092</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 8%; text-align: right"><font style="font-size: 8pt">5,089,234</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 8pt">Gansu Tiaoshan Agricultural-Industrial-Commercial Group Co., Ltd</font></td>
<td style="text-align: right"> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">49,444,537</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">49,250,432</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">43,662,026</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">43,478,856</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">5,782,276</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td><font style="font-size: 8pt">$</font></td>
<td style="text-align: right"><font style="font-size: 8pt">5,772,229</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 8pt">Gansu Hongtai Agricultural Technology Co., Ltd. </font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">28,865,148</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">28,751,832</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">27,102,040</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">26,988,342</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">1,762,981</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">1,759,918</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 8pt">Gansu Xiaheqing Industrial Co., Ltd.</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">4,699,751</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">4,681,301</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">4,146,232</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">4,128,838</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">553,497</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">552,535</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 8pt">Gansu Jinta Hengsheng Agricultural Development Co., Ltd.</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">25,886,476</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">25,784,853</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">23,108,405</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">23,011,461</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">2,777,949</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">2,773,122</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 8pt">Gansu Jinta Xingsheng Industrial Co., Ltd.</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">25,307,674</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">25,208,323</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">21,796,408</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">21,704,968</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">3,511,143</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">3,505,042</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><font style="font-size: 8pt">Gansu Jinta Yongsheng Agricultural Development Company.</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">24,500,425</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">24,404,243</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">20,956,678</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">20,868,761</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">3,543,677</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">3,537,520</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Gansu Jinta Yuantai Commercial Trading Co., Ltd.  </font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">261,454</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">260,428</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">262,784</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">261,682</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-344</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">-343</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 3pt"><font style="font-size: 8pt">Totals for Quarter</font></td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">210,036,064</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">209,211,523</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">187,006,793</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">186,222,266</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">23,029,272</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">22,989,257</font></td>
<td style="padding-bottom: 3pt"> </td></tr>
</table>
<table cellspacing="0" cellpadding="0" style="font: 8pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Cost of Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Cost of Sales</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Gross Profit</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Gross Profit</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Gross Profit %</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">Gross Profit %</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td>
<td> </td>
<td colspan="2" style="text-align: center"><font style="font-size: 8pt">ended</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2015</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><font style="font-size: 8pt">3/31/2014</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 20%"><font style="font-size: 8pt">Agriculture</font></td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">208,308,014</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">207,490,256</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">185,370,473</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">184,592,811</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">23,442,903</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"><font style="font-size: 8pt">$</font></td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">22,897,445</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">11.25</font></td>
<td style="width: 1%"> </td>
<td style="width: 1%; text-align: right"> </td>
<td style="width: 1%"> </td>
<td style="width: 7%; text-align: right"><font style="font-size: 8pt">11.04</font></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td><font style="font-size: 8pt">Livestock</font></td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">371,128</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">369,671</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">352,285</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">350,807</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">19,314</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">18,865</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">5.2</font></td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td style="text-align: right"><font style="font-size: 8pt">5.1</font></td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 1.5pt"><font style="font-size: 8pt">Biotechnology</font></td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,356,923</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,351,596</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,284,036</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">1,278,649</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">74,685</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">72,947</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">5.5</font></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><font style="font-size: 8pt">5.4</font></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: white">
<td style="padding-bottom: 3pt"><font style="font-size: 8pt">Total for Quarter</font></td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">210,036,064</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">209,211,523</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">187,006,793</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">186,222,266</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">23,029,272</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"><font style="font-size: 8pt">$</font></td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">22,493,438</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 1.5pt solid; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid; padding-bottom: 1.5pt; text-align: right"><font style="font-size: 8pt">10.96</font></td>
<td style="padding-bottom: 3pt"> </td>
<td style="padding-bottom: 3pt; text-align: right"> </td>
<td style="border-bottom: black 2.25pt double"> </td>
<td style="border-bottom: black 2.25pt double; text-align: right"><font style="font-size: 8pt">10.99</font></td>
<td style="padding-bottom: 3pt"> </td></tr>
</table>
1030987009
122270094
109733203
14884058
353861690
430237964
114271116
102554395
13910335
326951346
402091555
959778748
912687552
853959285
118299457
105819463
.17
.04
15777758
15468390
30101978
29511743
45953618
45052567
180593123
175502312
67463960
66141137
The general reserve fund requires annual appropriations of 10% of after-tax profit (as determined under PRC GAAP) until these reserves equal 50% of the amount of paid-in capital; the other fund appropriations are at the Companys discretion. Payment to the statutory general reserve fund is at the Company discretion.
.14
.20
.01
.10