09:04     CHINA METAL<00319> - Results Announcement                           

    China Metal International Holdings Inc. announced on 31/03/2005:          
    (stock code: 00319 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: USD                                                             
    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                           : 88,759             45,722            
    Profit/(Loss) from Operations      : 19,605             11,433            
    Finance cost                       : (679)              (82)              
    Share of Profit/(Loss) of                                                 
      Associates                       : 38                 4                 
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 17,849             11,333            
    % Change over Last Period          : +57.5     %                          
    EPS/(LPS)-Basic (in dollars)       : 0.0238             0.0151            
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 17,849             11,333            
    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.      Basis of preparation of the financial statements and principal    
    accounting policies                                                       
                                                                              
    The measurement basis used in the preparation of the financial statements 
    is historical cost and the marking to market of certain investments in    
    securities.                                                               
                                                                              
    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 ("SSAP") and        
    Interpretations) issued by the Hong Kong Institute of Certified Public    
    Accountants ("HKICPA"), accounting principles generally accepted in Hong  
    Kong and the disclosure requirements of the Hong Kong Companies Ordinance.
     These financial statements also comply with the applicable disclosure    
    provisions of the Rules Governing the Listing of Securities on the Stock  
    Exchange.  A summary of the principal accounting policies adopted by the  
    Group is set out below.                                                   
                                                                              
    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 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 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.               
                                                                              
    2.      Earning per share                                                 
                                                                              
    (a)     Basic earnings per share                                          
                                                                              
    The calculation of basic earnings per share for the year ended 31 December
    2004 is based on the profit attributable to shareholders of USD17,849,000 
    and the weighted average number of 750,685,000 ordinary shares in issue   
    during the year. The calculation of basic earnings per share for the year 
    ended 31 December 2003 was based on the profit attributable to            
    shareholders of USD11,333,000 and on the 750,000,000 ordinary shares of   
    the Company in issue as at the date of the Prospectus, as if the shares   
    were outstanding after the Reorganisation and capitalisation issue.       
                                                                              
    (b)     There were no dilutive potential ordinary shares during 2003 and  
    2004 and, therefore, diluted earnings per share are not presented.        
                                                                              
    For more details, please refer to the press announcement today.