Hanfeng Evergreen Inc. reported earnings results for the third quarter and nine months ended March 31, 2013. For the quarter, the company reported sales of CAD 55.8 million versus CAD 98.8 million a year ago. The decrease in sales is due primarily to reduced sales in China as a result of a lack of a large order from the company's larger customer, coupled with production issues relating to excessive snowfall during the 2012/2013 winter season, offset by a small increase in sales in Indonesia (after taking into account sales returns of non-compliant product as reported in the second quarter fiscal 2013 results). Sales were also negatively impacted during third quarter of fiscal year 2013 at Hanampi due to lower market prices for crude palm oil in Indonesia, resulting in a deferral of purchases by palm oil producers. Adjusted EBITDA was CAD 3.7 million versus CAD 12.3 million in the same period last year. Net income was CAD 7.6 million compared to CAD 8.4 million during third quarter of fiscal year 2012. Basic and diluted income per share was CAD 0.13 versus CAD 0.14 in the same period in fiscal 2012. On a non-IFRS basis, basic and diluted income per share was CAD 0.20 versus CAD 0.14 in third quarter of fiscal year 2012. For the nine month, the company reported revenue of CAD 106.7 million versus CAD 156.3 million during the same period last year. The decrease in sales is due primarily to reduced sales in China as noted above, as well as reduced sales from the previously disposed Shandong and Shanxi joint ventures, offset by a small increase in sales in Indonesia. Net loss was CAD 113.9 million or CAD 1.89 per basic and diluted share compared to a profit of CAD 9.3 million or CAD 0.15 per basic and diluted share during the comparative period last year. The main reasons for the decreased net income resulted from impairment charges recorded in the second quarter of fiscal 2013 in property and equipment and the impairment of inventory and advances to suppliers, as described above. Adjusted EBITDA was CAD 5.5 million versus to CAD 17.3 million in the same period last year. On a non-IFRS basis, basic and diluted was CAD 0.01 versus CAD 0.16 in the comparative period last year.

Hanfeng Evergreen Inc. reported earnings results for the second quarter and six months ended December 31, 2012. For the quarter, sales decreased by $37.2 million to $8.6 million from $45.8 million in second quarter of fiscal 2012. The decrease in sales is due primarily to the absence of any sales to Beidahuang from HLJ during second quarter of fiscal 2013 and minimal sales in JS, as well as a shift in seasonal production during Fiscal 2012, where sales were made in the second quarter of fiscal 2012 as opposed to the first quarter of Fiscal 2012, due to the HLJ 2011 Maintenance Turnaround. Sales were also negatively impacted during second quarter of fiscal 2013 at Hanampi due to sales returns relating to non-compliant product. EBITDA decreased to negative $1.9 million compared to $6.0 million during second quarter of fiscal 2012. The main reason for the decrease was lower production and sales volumes during second quarter of fiscal 2013, which generated reduced gross profit. The company reported a net loss of $122.8 million compared to net income of $2.9 million during the same quarter in fiscal 2012. As a result, loss per share was $2.04 compared to income per share of $0.05 for the same quarter during fiscal 2012. Non-IFRS loss per share was $0.07 for second quarter of fiscal 2013. For the six month period in fiscal 2013, sales were $50.9 million versus $57.5 million in the comparative six month period last year. EBITDA decreased to $1.9 million compared to $5.0 million during first half of fiscal 2012. The main reason for the decrease was reduced gross profit and operating income. Net loss was $121.4 million compared to a profit of $0.9 million during first half of fiscal 2012. As a result, loss per share was $2.02 compared to income per share of $0.02 for first half of fiscal 2012. Non-IFRS loss per share was $0.04. Impairment loss of $78.5 million is related to property and equipment in second quarter of fiscal 2013, versus nil for second quarter of fiscal 2012. The increase is due primarily to the measurement of the recoverable amount of the HLJ/JS CGUs based on fair value less cost to sell as a result of the valuation analysis conducted in connection with the Special Committee's assessment of the Privatization Proposal.

Hanfeng Evergreen Inc., Annual General Meeting, Mar 15, 2013., at 08:30 US Eastern Standard Time. Location: Toronto Board of Trade-Downtown Centre. Agenda: To receive the audited consolidated financial statements of the Corporation as at and for the financial year ended June 30, 2012 and the auditors' report thereon; to elect directors; to re-appoint the Corporation's auditors and to authorize the Board of Directors to fix their remuneration; to consider and approve a plan of arrangement under section 182 of the Business Corporations Act (Ontario) involving the Corporation and 8310831 Canada Inc. , and pursuant to which, among other things, the Purchaser will acquire all of the issued and outstanding Shares of the Corporation not already owned or controlled by Mr. Yu or other members of the insider group for cash consideration of $2.25 per Share, all as more particularly described in the Circular; and to transact such other business as may properly come before the meeting or any adjournment or postponement thereof.