Huaxing Machinery Announces Results of Special Meeting

Huaxing Machinery Corp. (TSX VENTURE:HUA) ("Huaxing" or the "Company") (formerly
Samurai Capital Corp. (TSX VENTURE:SMU.P)) is pleased to announce the results of
the Company's special meeting (the "Meeting") held on Friday, November 9, 2012.
At the Meeting, disinterested shareholders of the Company approved the
settlement of the indebtedness in the aggregate amount of CDN$4,899,205 owed to
Gold Rhino International Investment Limited ("GRIL") by the issuance of a total
of 18,145,200 Series A Convertible Preferred Shares (the "Series A Shares") of
the Company at a deemed price of $0.27 per Series A Share and approved the
settlement of the indebtedness in the aggregate amount of CDN$600,000 owed to
GRIL by the issuance of a total of 2,222,222 Series A Shares at a deemed price
of $0.27 per Series A Share. The settlement of the indebtedness to GRIL and the
issuance of the Series A Shares has received final approval of the TSX Venture
Exchange.


At the Meeting, shareholders also approved an amendment to the Articles of
Company amending the special rights and restrictions of the preferred shares of
the Company by deleting the provisions which gave the holders of preferred
shares preference over the holders of common shares in the event of dissolution
or winding up. A copy of the Amended Articles of the Company is available under
the Company's profile on SEDAR at www.sedar.com.


About Huaxing Machinery Corp.

Huaxing is engaged in the business of machinery manufacturing, and became listed
on the TSX.V on January 21, 2011 upon completing the Qualifying Transaction with
Samurai Capital Corp., a CPC. Through its wholly owned subsidiary Gold Rhino
Limited, Huaxing holds an 80% controlling equity interest in Shandong Gold Rhino
Huaxing Machinery Corp., the operating entity that holds the manufacturing
facilities located in Boxing County, Shandong province, China. Its main products
are stone cutting, polishing and processing machinery and equipment for the
building and construction industry, and Robotic Welding System for the steel
structure industry.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Huaxing Machinery Corp.
Xinlin Huang
604-601-8218
[e-mail]


Huaxing Machinery Corp.
Ming (Barry) Sheng
778-882-9677
[e-mail]