Huaxing Machinery Corp.
TSX VENTURE : HUA

Huaxing Machinery Corp.

July 15, 2013 13:11 ET

Huaxing Announces Cash Dividend

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 15, 2013) - Huaxing Machinery Corp. (TSX VENTURE:HUA) ("Huaxing" or the "Company") is pleased to announce that the Board of Director (the "Board") of the Company has decided to pay cash dividend on a bi-annual basis to the shareholders of the Company.

A dividend of 1 cent per share on common shares and preferred shares of the Company for the first half year ending June 30, 2013 will be payable on September 15, 2013 to shareholders of record at the close of business on August 15, 2013.

The declaration and payment of future dividends will be subject to the Company's cash requirements as well as the satisfaction of statutory solvency tests. In addition, the Board will assess future year's dividend payout levels, from time to time, in light of the Company's financial performance and its then current and anticipated business needs at that time.

For further information:

Y.B. Ian He, Deputy Chairman, 604-306-5867, or Xinlin Huang, CFO, 604 601 8218

About Huaxing Machinery Corp.

Huaxing is engaged in the business of machinery manufacturing. 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 processing machinery for the building and construction industry, and Robotic Welding System for the steel structure industry.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain information regarding Huaxing 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.

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