13:31     KINGBOARD CHEM<00148> - Results Announcement (1)                    

    Kingboard Chemical Holdings Limited announced on 30/03/2005:              
    (stock code: 00148 )                                                      
    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                           : 7,082,390          4,435,503         
    Profit/(Loss) from Operations      : 1,353,661          607,071           
    Finance cost                       : (90,345)           (47,077)          
    Share of Profit/(Loss) of                                                 
      Associates                       : N/A                N/A               
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : (4,092)            N/A               
    Profit/(Loss) after Tax & MI       : 1,103,845          472,366           
    % Change over Last Period          : +133.68   %                          
    EPS/(LPS)-Basic (in dollars)       : 1.669              0.809             
             -Diluted (in dollars)     : 1.587              0.769             
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 1,103,845          472,366           
    Final Dividend                     : 20.0 CENTS         10.0 CENTS        
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 13/05/2005         to 18/05/2005 bdi.
    Payable Date                       : 25/05/2005                           
    B/C Dates for Annual                                                      
      General Meeting                  : 13/05/2005         to 18/05/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
                                                                              
    1. Principal accounting policies                                          
                                                                              
    In 2004, the Hong Kong Institute of Certified Public Accountants (the "   
    HKICPA") issued a number of new or revised Hong Kong Accounting Standards 
    and Hong Kong Financial Reporting Standards (hereinafter collectively     
    referred to as "new HKFRSs") which are effective for accounting periods   
    beginning on or after 1 January 2005. The Group has not early adopted     
    these new HKFRSs in the financial statements for the year ended 31        
    December 2004.                                                            
                                                                              
    The Group has commenced considering the potential impact of these new     
    HKFRSs but is not yet in a position to determine whether these new HKFRSs 
    would have a significant impact on how its results of operations and      
    financial position are prepared and presented.  These new HKFRSs may      
    result in changes in the future as to how the results and financial       
    position are prepared and presented.                                      
                                                                              
    2. TAXATION                                                               
                                                                              
                                                    2004            2003      
                                                    HK$'000         HK$'000   
    The amount comprises:                                                     
    Hong Kong Profits Tax                                                     
     Charge for the year                            48,912          36,043    
     (Over)underprovision in previous periods       (18,742)        416       
                                                    ----------------------    
                                                    30,170          36,459    
    Taxation arising in other jurisdictions         31,118          10,230    
                                                                              
    Deferred taxation                                                         
     Credit for the year                            (104)           (9,088)   
                                                    -----------------------   
                                                    61,184          37,601    
                                                    =======================   
                                                                              
    Hong Kong Profits Tax is calculated at 17.5% on the estimated assessable  
    profits of the Group derived from Hong Kong during the year.              
                                                                              
    Taxation arising in other jurisdictions is calculated at the rates        
    prevailing in the respective jurisdictions.