08:55     ZJ PROSPECT<08273> - Yearly Results Announcement (1)                

                                                                              
    Zhejiang Prospect Company Limited announced on 17th March 2005:           
    (stock code: 08273 )                                                      
                                                                              
    Year end date                         :31st December, 2004                
    Currency                              :RMB                                
    Auditors' report                      :Unqualified                        
                                                                              
                                                                              
    Important Note :                                                          
                                                                              
    This result announcement form only contains extracted information from    
    and should be read in conjunction with the detailed results announcement  
    of the issuer, which can be viewed on the GEM website at                  
    http://www.hkgem.com                                                      
                                                                              
                                                 (Audited)       (Audited)    
                                                  Current Last Corresponding  
                                                   Period            Period   
                                           from 01/01/2004   from 01/01/2003  
                                             to 31/12/2004     to 31/12/2003  
                                                     $'000             $'000  
                                                                              
    Turnover                              :         79,071            66,089  
    Profit/(Loss) from Operations         :         16,232            16,715  
    Finance cost                          :        (2,274)           (1,918)  
    Share of Profit/(Loss) of Associates  :            N/A               N/A  
    Share of Profit/(Loss) of Jointly                                         
             Controlled Entites           :            N/A               N/A  
    Profit/(Loss) after Taxation & MI     :          8,964             9,180  
    % Change Over the Last Period         :          -2.35%                   
    EPS / (LPS)                                                               
              Basic (in dollar)           :       RMB 0.12          RMB 0.17  
              Diluted (in dollar)         :            N/A               N/A  
    Extraordinary (ETD) Gain/(Loss)       :            N/A               N/A  
    Profit (Loss) after ETD Items         :          8,964             9,180  
    Final Dividends per Share             :            NIL               NIL  
    (specify if with other options)       :            N/A               N/A  
    B/C Dates for Final Dividends         :            N/A                    
    Payable Date                          :            N/A                    
    B/C Dates for Annual General Meeting  :     18/04/2005 to 17/05/2005 bdi. 
    Other Distribution for Current Period :            NIL                    
    B/C Dates for Other Distribution      :            N/A                    
                                           (bdi: both days inclusive)         
                                                                              
    For and on behalf of                                                      
    Zhejiang Prospect Company Limited                                         
                                                                              
    Signature :                                                               
    Name      : Kwok Pui Ching                                                
    Title     : Company Secretary                                             
                                                                              
    Responsibility statement                                                  
                                                                              
    The directors of the Company (the "Directors") as at the date hereof      
    hereby collectively and individually accept full responsibility for the   
    accuracy of the information contained in this results announcement form   
    (the "Information") and confirm, having made all reasonable inquiries,    
    that to the best of their knowledge and belief the Information are        
    accurate and complete in all material respects and not misleading and     
    that there are no other matters the omission of which would make the      
    Information herein inaccurate or misleading.The Directors acknowledge     
    that the Stock Exchange has no responsibility whatsoever with regard to   
    the Information and undertake to indemnify the Exchange against all       
    liability incurred and all losses suffered by the Exchange in connection  
    with or relating to the Information.                                      
                                                                              
    Remarks:                                                                  
                                                                              
    1. Significant accounting policies                                        
                                                                              
    (a) Basis of preparation                                                  
                                                                              
    This financial statements has been prepared in accordance with            
    generally accepted accounting principles in Hong Kong and comply          
    with all applicable Hong Kong Financial Reporting Standards               
    (which includes all applicable Statements of Standard Accounting          
    Practice and interpretations) issued by the Hong Kong Institute of        
    Certified Public Accountants ("HKICPA"), the disclosure requirements      
    of the Hong Kong Companies Ordiance and the applicable disclosure         
    provisions of the Rules Governing the Listing of Securities on the        
    Growth Enterprise Market. The financial statements are prepared           
    under the historical cost convention as modified by the revaluation       
    of certain property, plant and equipment.                                 
                                                                              
    The HKICPA has issued a number of new and revised Hong Kong Financial     
    Reporting Standards and Hong Kong Accounting Standards ("new HKFRSs")     
    which are effective for accounting periods beginning on or after 1st      
    January 2005.                                                             
                                                                              
    The financial statements are prepared under the historical cost           
    convention.