Huaxing Machinery Corp. Reports Consolidated Financial Results for the Year Ended December 31, 2012

Huaxing Machinery Corp. (TSX VENTURE:HUA) ("Huaxing" or the "Company") reports
its audited consolidated financial results as at and for the year ended December
31, 2012 in accordance with International Financial Reporting Standards
("IFRS"). All dollar amounts are expressed in Canadian dollars.


The Company's audited financial results for the year ended December 31, 2012 in
comparison to those of the year ended December 31, 2011 are as follows: 




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                           Year Ended   Year Ended                          
                         December 31, December 31,        Changes from      
                                 2012         2011        2011 to 2012      
                                    $            $            $          %  
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Sales                      26,740,159   26,342,834      397,325       1.51% 
Cost of sales              20,013,108   20,885,916     (872,808)     (4.18%)
Gross profit                6,727,051    5,456,918    1,270,133      23.28% 
Income from operations      3,069,020    1,592,883    1,476,137      92.67% 
Net income                  3,256,514      433,368    2,823,146     651.44% 
Net income attributable                                                     
 to equity holders of                                                       
 the Company                2,523,661       72,166    2,451,495   3,397.02% 
Earnings per share -                                                        
 basic and diluted               0.06         0.00         0.06             
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For the year ended December 31, 2012, audited consolidated income from
operations and net income were $3,069,020 (2011 - $1,592,883) and $3,256,514
(2011 - $433,368), respectively. 


Gross profit margin increased from 20.71% during fiscal 2011 to 25.16% during
fiscal 2012, as we increased the sales of our new products during fiscal 2012. 


During the year ended December 31, 2011 we recorded listing costs of $769,308
for completing the Qualifying Transaction (the "QT") with Samurai Capital Corp.
("Samurai"), a CPC. The listing costs had a substantial impact on the Company's
reported net income for 2011. However, these costs were specifically for taking
the Company public and non-recurring. 


The Board of Directors did not declare dividend for the year ended December 31,
2012.


The foregoing reflects a selected extract of the Company's financial performance
only, and must be viewed with the Company's full audited consolidated financial
statements and management's discussion and analysis on SEDAR for further details
at www.sedar.com under the Company's profile. 


About Huaxing Machinery Corp. 

Huaxing is a manufacturer of stone processing equipment and steel structure
fabrication equipment. The Company became listed on TSX.V on January 21, 2011
upon completing the QT with Samurai. 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 sawing, cutting, polishing and processing machinery, and robotic
welding system for steel structure fabrication. The processed stones and steel
structures are both used in the building and infrastructure construction
industry.


Forward-Looking Statements 

Certain information regarding Huaxing Machinery Corp. contains herein may
constitute forward-looking statements within the meaning of applicable
securities laws. Forward-looking statements may include estimates, plans,
expectations, opinions, forecasts, projections, guidance or other statements
that are not statements of fact. Although the Company believes that the
expectations reflected in such forward-looking statements are reasonable, it can
give no assurance that such expectations will prove to have been correct. The
Company cautions that actual performance will be affected by a number of
factors, many of which are beyond the Company's control, and that future events
and results may vary substantially from what the Company currently foresees. The
Company assumes no obligation to update such forward-looking statements, except
as required by applicable securities laws or exchange regulations. The Company's
forward-looking statements are expressly qualified in their entirety by this
cautionary statement. The Company seeks safe harbour.



FOR FURTHER INFORMATION PLEASE CONTACT: 
Huaxing Machinery Corp.
Xinlin Huang
778-373-1485
[e-mail]