09:05     FUDANZHANGJIANG<08231> - Yearly Results Announcement (1)            

                                                                              
    Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. announced on       
    29/03/2005:                                                               
    (stock code: 08231 )                                                      
                                                                              
    Year end date                         :31/12/2004                         
    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  
                                                   RMB'000           RMB'000  
                                                                              
    Turnover                              :         10,567             8,131  
    Profit/(Loss) from Operations         :       (24,446)          (20,206)  
    Finance cost                          :              0                 0  
    Share of Profit/(Loss) of Associates  :        (2,240)           (1,381)  
    Share of Profit/(Loss) of Jointly                                         
             Controlled Entites           :            N/A               N/A  
    Profit/(Loss) after Taxation & MI     :       (24,901)          (18,347)  
    % Change Over the Last Period         :            N/A                    
    EPS / (LPS)                                                               
              Basic (in dollar)           :   (RMB 0.0351)       (RMB 0.0258) 
              Diluted (in dollar)         :            N/A               N/A  
    Extraordinary (ETD) Gain/(Loss)       :             0                 0   
    Profit (Loss) after ETD Items         :       (24,901)          (18,347)  
    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  :24/05/2005   to 24/06/2005   bdi.  
    Other Distribution for Current Period :            NIL                    
    B/C Dates for Other Distribution      :            N/A                    
                                           (bdi: both days inclusive)         
                                                                              
    For and on behalf of                                                      
    Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd.                    
                                                                              
    Signature :                                                               
    Name      : Wang Rui                                                      
    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. Basis of preparation                                                   
                                                                              
    The consolidated financial statements have been prepared in               
    accordance with International Financial Reporting Standards ("IFRS").     
    These financial statements are prepared under the historical cost         
    convention, except that the available-for-sale investments are shown at   
    fair value.                                                               
                                                                              
    The results are audited and have also been reviewed by the Audit          
    Committee.                                                                
                                                                              
    2. Financial review                                                       
                                                                              
    The Group's consolidated turnover for the year ended 31                   
    December 2004 amounted to RMB10,567,000, compared to                      
    RMB8,131,000 for the previous year. During the year under                 
    review, RMB4,200,000(or 40% of the total turnover) was derived            
    from the income of technology transfer, and the rest of                   
    approximately RMB6,367,000 (or 60% of the total turnover) came from       
    the sale of diagnostic products and the provision of the ancillary        
    services. In contrast, the total turnover for the year 2003 was           
    generated from the sale of diagnostic products.