08:57     GOLDEN MEDITECH<08180> - Quarterly Results Announcement (2)         

                                                                              
    2.2  Basic earnings per share                                             
                                                                              
    The calculation of basic earnings per share for the nine months ended     
    31 December 2004 is based on the unaudited consolidated profit            
    attributable to shareholders of HK$104,225,000 (2003:  HK$75,176,000)     
    divided by the weighted average number of 1,196,850,086                   
    (2003: 1,004,837,346 restated) shares in issue during the period.         
    The weighted average number of shares has been restated to reflect        
    the Bonus Issue as if it were effected during the period.                 
                                                                              
    2.3  Diluted earnings per share                                           
                                                                              
    The calculation of diluted earnings per share for the nine months ended   
    31 December 2004 is based on the unaudited adjusted profit                
    attributable to shareholders of HK$104,881,000 (2003:  HK$75,176,000)     
    which is the profit attributable to shareholders for the period adjusted  
    for the accrued interest expense related to the convertible bond of       
    HK$656,000 divided by the weighted average number of 1,256,571,707        
    (2003:  1,018,947,210 restated) shares in issue during the period after   
    adjusting for the effects of all dilutive potential shares.               
    The weighted average number of shares has been restated to reflect        
    the Bonus Issue as if it were effected during the period.                 
                                                                              
    3  Convertible bond                                                       
                                                                              
    A principal amount of HK$124,000,000 remains oustanding as at             
    31 December 2004 under the convertible bond issued by the Company         
    on 6 September 2004.                                                      
                                                                              
    The convertible bond bears interest at the rate of 1% per annum           
    and will mature in three years subsequent to the date of issue.           
    The outstanding principal amount of the convertible bond may be           
    converted into ordianry shares of the Company at an initial conversion    
    price of HK$3.8 per share, subject to adjustment at any time              
    and from time to time, after three months subsequent to its date of       
    issue.  As a result of the Bonus Issue, the conversion price has been     
    adjusted to HK1.9 per share, with effect from 24 September 2004, in       
    accordance with the terms of the convertible bond.                        
                                                                              
    4  Share option exercise price                                            
                                                                              
    As a result of the Bonus Issue, the exercise price of the outstanding     
    share options pursuant to the terms of the share option scheme adopted    
    by the Company on 30 July 2002 has been adjusted from HK$1.15 per share   
    to HK$0.575 per share, with effect from 24 September 2004.