08:34     VISION CENTURY<00535> - Results Announcement (1)                    

    Vision Century Corporation Limited announced on 24/03/2005:               
    (stock code: 00535 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Unqualified                                             
                                                                              
                                                            (Audited   )      
                                         (Audited   )       Last              
                                         Current            Corresponding     
                                         Period             Period            
                                         from 01/01/2004    from 01/01/2003   
                                         to 31/12/2004      to 31/12/2003     
                                   Note  ('000      )       ('000      )      
    Turnover                           : 547,396            184,989           
    Profit/(Loss) from Operations      : 30,530             (126,468)         
    Finance cost                       : (6,933)            (10,221)          
    Share of Profit/(Loss) of                                                 
      Associates                       : 581                4,340             
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : (3,920)            2,299             
    Profit/(Loss) after Tax & MI       : 16,398             (846,103)         
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : 0.0058             (0.298)           
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 16,398             (846,103)         
    Final Dividend                     : Nil                Nil               
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : N/A                                  
    Payable Date                       : N/A                                  
    B/C Dates for (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    (1)     TURNOVER                                                          
                                            2004            2003              
                                            HK$'000         HK$'000           
    Continuing operations                   541,980         176,942           
    Discontinuing operations                  5,416           8,047           
                                            ------------------------          
                                            547,396         184,989           
                                            ========================          
                                                                              
    Included in discontinuing operations is the Infocomm technology           
    business.                                                                 
                                                                              
    (2)     PROFIT/(LOSS) FROM OPERATIONS                                     
                                            2004            2003              
                                            HK$'000         HK$'000           
    Gross profit/(loss)                      30,020         (43,255)          
    Other revenues (3)                        3,080           3,447           
    Provisions made for operations (4)       (2,984)        (36,919)          
    Administrative expenses                 (24,720)        (46,529)          
    Other income/(expenses), net             18,749          (3,212)          
    Gain on sale of discontinuing operation   6,385               -           
                                            --------------------------        
                                             30,530        (126,468)          
                                            ==========================        
                                                                              
    Analysis of profit/(loss) from continuing operations and                  
    discontinuing operations :                                                
                                            2004            2003              
                                            HK$'000         HK$'000           
    Continuing operations                   36,820          (94,755)          
    Discontinuing operations                (6,290)         (31,713)          
                                            ------------------------          
                                            30,530         (126,468)          
                                            ========================          
                                                                              
    (3)     OTHER REVENUES                                                    
                                            2004            2003              
                                            HK$'000         HK$'000           
    Interest income                            618            1,730           
    Others                                   2,462            1,717           
                                            ------------------------          
                                             3,080            3,447           
                                            ========================