Huaxing Machinery Corp. Announces Plan to Restate Audited Financial Information - Seite 2

About Huaxing Machinery Corp.

Huaxing is a manufacturer of stone processing equipment and steel structure fabrication equipment. 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 and its subsidiaries 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, including statements regarding the nature of the restatement of the financial information and that the Company plans to restate the financial information in its audited financial statements for the year ended December 31, 2014. 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. Developing forward-looking information involves reliance on a number of assumptions and consideration of certain risks and uncertainties, some of which are specific to the Company and others that apply to the industry generally. The factors or assumptions on which the forward-looking information is based include without limitation: management's current expectations, estimates and assumptions about the Company's current assets, the global economic environment, and the Company's ability to manage our assets and operating results. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: potential negative financial impact from regulatory investigations, claims, lawsuits and other legal proceedings and challenges and other factors beyond our control. 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.