09:11     WING SHAN INT'L<00570> - Announcement (2)                           

    represented less than 8% of the Group's total assets value of             
    approximately HK$2,259,685,000 as shown in the Company's latest           
    published annual report for the year ended 31 December 2003;              
    and (ii) prior to 31 March 2004,  no corresponding disclosure             
    obligation had arisen in connection with the relevant trade               
    receivables pursuant to the then Listing Rules, the Company was           
    genuinely but inadvertently of the view that the relevant trade           
    receivables were exempt from the disclosure requirements under            
    the new Listing Rules.                                                    
                                                                              
    Owing to the misapprehension of the applicable test in respect            
    of the trade receivables, the Company failed to release an                
    announcement pursuant to Rules 13.13, 13.14 and 13.15 of the              
    Listing Rules in a timely manner.  The Stock Exchange reserves            
    its rights to take appropriate action against the Company and/or          
    the Directors.                                                            
                                                                              
                                                                              
    Trade Receivables as at 31 March 2004 - Rules 13.13 and 13.15             
    of the Listing Rules                                                      
                                                                              
    Pursuant to the requirements under Rules 13.13 and 13.15 of the           
    Listing Rules, where any of the Percentage Ratios of the relevant         
    advance to an entity exceeds 8%, a general disclosure obligation          
    for the Company will arise.                                               
                                                                              
    As at 31 March 2004, the trade receivables owed to the Group              
    by Guangdong Guan-Dian, in aggregate amounted to RMB90,727,956            
    (equivalent to approximately HK$84,903,571), represented                  
    approximately 19.84% of the Market Capitalization on 31 March             
    2004.  Pursuant to Rule 13.13 of the Listing Rules, the Company           
    was required to disclose details of such trade receivables.               
                                                                              
    Increase in Trade Receivables - Rules 13.14 and Rule 13.15 of             
    the Listing Rules                                                         
                                                                              
    Pursuant to the requirements under Rules 13.14 and 13.15 of the           
    Listing Rules, where any of the Percentage Ratios of the relevant         
    advance to an entity increases from that previously disclosed             
    under Rules 13.13, 13.14 or 13.20 of the Listing Rules by 3%              
    or more, a general disclosure obligation for the Company will             
    arise.                                                                    
                                                                              
    As at 30 April 2004, the trade receivables owed to the Group              
    by Guangdong Guan-Dian increased to RMB136,461,113 (equivalent            
    to approximately HK$127,700,836), represented approximately               
    34.49% of the Market Capitalization on 30 April 2004.  Such               
    increase in trade receivables therefore gave rise to a disclosure         
    obligation of the Company under Rule 13.14 of the Listing Rules.          
                                                                              
    As at 30 November 2004, the trade receivables owed to the Group           
    by Guangdong Guan-Dian further increased to RMB141,358,335                
    (equivalent to approximately HK$132,283,675), represented                 
    approximately 38.31% of the Market Capitalization on 30 November          
    2004.  Such further increase in trade receivables therefore               
    triggered off the disclosure obligation of the Company under              
    Rule 13.14 of the Listing Rules.                                          
                                                                              
    As at 31 December 2004, the trade receivables owed to the Group           
    by Guangdong Guan-Dian further increased to RMB184,231,331                
    (equivalent to approximately HK$172,404,390), represented                 
    approximately 53.80% of the Market Capitalization on 31 December          
    2004.  Such further increase in trade receivables also triggered          
    off the disclosure obligation of the Company under Rule 13.14             
    of the Listing Rules                                                      
                                                                              
    Misinterpretation of of Rules 13.13, 13.14 and 13.15 of the               
    Listing Rules