13:33     YUGANG INT'L<00613> - Results Announcement (1)                      

    Yugang International Limited announced on 30/03/2005:                     
    (stock code: 00613 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    Auditors' Report: Unqualified                                             
                                                            (Restated)(Note 1)
                                                            (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                           : 392,766            217,499           
    Profit/(Loss) from Operations      : 213,859            107,945           
    Finance cost                       : (4,150)            (5,313)           
    Share of Profit/(Loss) of                                                 
      Associates                       : 54,001             22,934            
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : (725)              1,215             
    Profit/(Loss) after Tax & MI       : 227,416            107,267           
    % Change over Last Period          : +112      %                          
    EPS/(LPS)-Basic (in dollars)       : 0.0269             0.0127            
             -Diluted (in dollars)     : 0.0247             0.0119            
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 227,416            107,267           
    Final Dividend                     : $0.003             $0.002            
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 27/04/2005         to 29/04/2005 bdi.
    Payable Date                       : 09/05/2005                           
    B/C Dates for Annual                                                      
      General Meeting                  : 27/04/2005         to 29/04/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      Basis of presentation and comparative figures                     
                                                                              
    The Hong Kong Institute of Certified Public Accountants ("HKICPA",        
    formerly the Hong Kong Society of Accountants) 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 1 January 2005. The Group has not early     
    adopted these new HKFRSs in the accounts for the year ended 31 December   
    2004. The Group has already commenced an assessment of the impact of these
    new HKFRSs but is not yet in a position to state whether these new HKFRSs 
    would have a significant impact on its results of operations and financial
    position.                                                                 
                                                                              
    The financial statements have been prepared in accordance with all        
    applicable Hong Kong Financial Reporting Standards (which include all     
    applicable Statements of Standard Accounting Practice and Interpretations)
    issued by the HKICPA, accounting principles generally accepted in Hong    
    Kong and the requirements of the Hong Kong Companies Ordinance. The       
    financial statements also comply with the applicable disclosure provisions
    of the Rules Governing the Listing of Securities on The Stock Exchange of 
    Hong Kong Limited.                                                        
                                                                              
    The accounting policies and basis of preparation used in the preparation  
    of these consolidated financial statements are consistent with those used 
    in the audited financial statements for the year ended 31 December 2003   
    except that the trading of securities, interest income from securities    
    investment and provision of financing services are reclassified under     
    treasury investment as part of the principal activities of the Group. The 
    directors are of the opinion that such reclassification is necessary to   
    give a better understanding of the performance of the Group and the       
    comparative amounts presented have been restated to conform to the changed
    classification.                                                           
                                                                              
    2.      The Group's profit/(loss) from operating activities is arrived at 
    after (charging)/crediting:                                               
                                                                              
                                                 2004            2003         
                                            HK$'000         HK$'000           
    Unrealized holding gain on other        128, 179        91,116            
      Investments                                                             
    Provision for impairment loss on        (30,000)        -                 
      unlisted investments                                                    
    Gain on partial disposal of a                                             
      subsidiary                            22,480          -                 
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