13:11     CHINA FORCE<01194> - Results Announcement (2)                       

                                                                              
    Turnover recognized during the year may be analyzed as follows:           
                                                                              
                                            2004            2003              
                                            '000            '000              
    Sales of                                                                  
     - Refined soyabean oil                 2,358,205       1,341,087         
     - Crude soyabean oil                     525,742         865,700         
     - Palm oil                             1,519,000         981,573         
     - Sunflower seed oil                      34,566               -         
     - Other edible oils and related products  90,794          79,101         
    Logistics and storage charges              29,782          32,528         
    Processing charges of edible oil products  10,933           8,870         
                                            --------------------------        
                                            4,569,022       3,308,859         
                                            ==========================        
                                                                              
    3.      Profit from ordinary activities before taxation                   
                                                                              
    Profit from ordinary activities before taxation is arrived at after       
    charging/(crediting):                                                     
                                                                              
                                            2004            2003              
                                            '000            '000              
    (a) Finance costs:                                                        
    Interest expense on bank advances wholly repayable within five years      
                                            36,095          21,881            
    Discounting charges                        823             274            
                                            ------------------------          
                                            36,918          22,155            
                                            ========================          
                                                                              
                                            2004            2003              
                                            '000            '000              
    (b) Staff costs:                                                          
    Salaries, wages and bonuses             19,516          10,244            
    Staff welfare                            2,542           2,432            
    Contributions to retirement benefit schemes 958            304            
                                            -----------------------           
                                            23,016          12,980            
                                            =======================           
    (c) Other items:                                                          
    Realised (gain)/loss on forward and future commodity contracts            
                                           (52,653)          8,437            
    Depreciation                            23,486          15,064            
    Auditors' remuneration                   1,880              72            
    Operating lease charges: property rentals 4,829          1,598            
                                            =======================           
                                                                              
    4.      Earnings per share                                                
                                                                              
    (a)     Basic earnings per share                                          
                                                                              
    The calculation of basic earnings per share is based on the profit        
    attributable to shareholders of HK$103,312,000 (2003: HK$103,716,000) and 
    the weighted average of 612,602,740 ordinary shares (2003: 560,000,000    
    ordinary shares after adjusting for the capitalization issue in 2004) in  
    issue during the year.                                                    
                                                                              
    (b)     Diluted earnings per share                                        
                                                                              
    There were no dilutive potential ordinary shares in issue during the year 
    ended 31 December 2003 and 2004.