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update these forward looking statements, except as required by law, in the event that management beliefs, estimates or opinions, or other factors, should change.

a negative gross margin of 0.2% during the same period in 2013.The Company continues to manage its capacity utilization in reaction to market conditions. During the second quarter, the Company Changtu and Daqing plants had little operation (approximately 1% capacity utilization) while the Tieling facility remained closed pending a decision regarding its relocation.Net loss for the second quarter was $10.3 million ( $0.12 per share) compared with a net loss of $8.5 million ( $0.10 per share) during the second quarter of 2013.The company EBITDA decreased to negative $3.0 million during the second quarter compared with negative $1.5 million during the second quarter of 2013.The Company continues to enjoy the strong support of its banking group and successfully renewed $33.3 million in loans in the second quarter.The Company maintains unrestricted cash balance of $4.0 million at Air Max Zero Marine

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During the second quarter, lower starch prices caused a negative gross margin of 14.5% compared with Nike Air Max 1 Leather Premium Wheat

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June 30, 2014.Beidahuang has recently advised the Company that it intends to amend the previous letter of intent ("LOI") which would result in the purchase of a 49% interest in the operating subsidiaries of Asia Bio Chem rather than the purchase of Asia Bio Chem shares from the major shareholders as previously contemplated. Management is currently working through the details of the transaction and in the process of obtaining various levels Air Max Zero Maroon of approvals."We are pleased to announce that we have completed the due diligence and audit process with Beidahuang Group", stated Mr. Zhiping Wang, President and CEO of Asia Bio Chem. "We have been actively working with Beidahuang to finalize the transaction and to secure the necessary approvals."For the second quarter ended June 30, 2014, sales were $15.5 million, which represents a 51.3% decline compared with the corresponding period of 2013. A weak Chinese economy caused starch, germ and gluten prices to deteriorate compared with the same period in 2013.During the second quarter, the Company ceased production in response to lower margins. Capacity at the Daqing and Changtu plants was 1% during the second quarter compared with 30% during the same second quarter of 2013.During the second quarter, the Company refinanced $33.3 million in loans which resulted in the reduction in restricted cash. Unrestricted cash position at June 30, 2014 was $4.0 million compared with $1.6 million at December 31, 2013.Beidahuang has recently advised the Company that it intends to amend the previous letter of intent ("LOI") which would result in the purchase of a 49% interest in the operating subsidiaries of Asia Bio Chem rather than the purchase of Asia Bio Chem shares from the major shareholders as previously contemplated. The operating subsidiaries namely; Chang Tu Bio Chem Technology Co. Ltd., Daqing Biochemical Company Ltd. and Tieling Wanshunda Starch Company Ltd. will become party to joint venture agreement with a subsidiary of BDH Commerce and Trade Co. Ltd, (a subsidiary of Beidahuang) which will bring together 10 facilities in the corn processing industry.Management is currently working through the details of the transaction and the various levels of approval.About Asia Bio Chem Group Corp.Asia Bio Chem Group, through its wholly owned subsidiaries in the People Republic of China, is in the business of processing corn into cornstarch, germ and gluten for sale into the domestic Chinese market. From its plants in Liaoning and Heilongjiang Province, the Company has a total processing capacity of 1.5 million tonnes of corn per year.This news release contains certain statements that may be deemed "forward looking statements". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects,", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company management on the date the statements are made. The Company undertakes no obligation to Air Max 1 Size

Announces Second Quarter 2014 Financial Results and Strategic Transaction Update

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