08:52     AVICHINA<02357> - Results Announcement                              

    AviChina Industry & Technology Company Limited announced on 04/04/2005:   
    (stock code: 02357 )                                                      
    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                           : 12,877,452         15,065,942        
    Profit/(Loss) from Operations      : 386,997            988,416           
    Finance cost,net                   : (170,804)          (209,873)         
    Share of Profit/(Loss) of                                                 
      Associates                       : 14,187             (13,811)          
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 71,439             452,074           
    % Change over Last Period          : -84.2     %                          
    EPS/(LPS)-Basic (in dollars)       : 0.015              0.134             
             -Diluted (in dollars)     : 0.015              0.134             
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 71,439             452,074           
    Final Dividend                     : NIL                RMB 0.0105        
      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                  : 17/05/2005         to 16/06/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1       Basis of preparation and accounting policies                      
                                                                              
    The financial statements have been prepared in accordance with            
    International Financial Reporting Standard ("IFRS") promulgated by the    
    International Accounting Standards Board ("IASB") under the historical    
    cost convention except that non-current investments and trading           
    investments are shown at fair value.                                      
                                                                              
    IASB has issued a number of new and revised IFRS which are effective for  
    accounting periods beginning on or after 1st January 2005.  The Group has 
    not early adopted these new IFRS in these financial statements for the    
    year ended 31st December 2004.  The Group has already commenced an        
    assessment of the impact of these new IFRS but is not yet in a position to
    state whether these new IFRS would have a significant impact on its       
    results of operations and financial position.                             
                                                                              
    2       Turnover and profit from operating activities                     
                                                                              
    The turnover and profit from operating activities of approximately        
    RMB 12.877 billion (2003: RMB15.066 billion) and RMB 387million (2003:    
    RMB988 million), respectively, were all generated from continuing         
    operations.                                                               
                                                                              
    3       Earnings per share                                                
                                                                              
    The calculation of basic earnings per share is based on the Group's profit
    attributable to shareholders of RMB71,439,000 (2003: RMB 452,074,000) and 
    based on the weighted average number of 4,643,608,500 (2003:              
    3,377,707,623) shares in issue during the year.                           
                                                                              
    There was no dilution effect on the basic earnings per share for the years
    ended 31st December 2003 and 2004 as there were no dilutive shares        
    outstanding during the years ended 31st December 2003 and 2004.           
                                                                              
    4       Dividends                                                         
                                                                              
    At a meeting held on 4th April 2005, the directors proposed not to        
    distribute any dividend for the year ended 31st December 2004.            
                                                                              
    For more details, please refer to the press announcement today.