09:07     GUANGZHOU SHIP<00317> - Results Announcement                        

    Guangzhou Shipyard International Company Limited announced on 31/03/2005: 
    (stock code: 00317 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: RMB                                                             
    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                           : 2,363,403          2,840,446         
    Profit/(Loss) from Operations      : 56,528             66,175            
    Finance cost                       : (22,046)           (41,426)          
    Share of Profit/(Loss) of                                                 
      Associates                       : 681                224               
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 60,945             24,555            
    % Change over Last Period          : +148.2    %                          
    EPS/(LPS)-Basic (in dollars)       : 0.1232             0.0496            
             -Diluted (in dollars)     : 0.1232             0.0496            
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 60,945             24,555            
    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 Annual                                                      
      General Meeting                  : 27/04/2005         to 26/05/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    For more details, please refer to the press announcement today.