The total investment involved in the establishment of the New Zealand Facility by the Company is estimated to be RMB1.1 billion, out of which RMB950 million will be for acquisition of land and cost of construction, and RMB150 million will be utilized as working capital of Yashili New Zealand Dairy Co., Limited, a wholly-owned subsidiary of the Company which will establish and operate the New Zealand Facility expected to be completed and put into operation in the second half of 2014.
