09:04     SPREADPROSPECTS<00572> - Results Announcement (2)                   

                                                                              
    3.      EARNINGS PER SHARE                                                
                                                                              
    The calculation of the basic and diluted earnings per share is based on   
    the following data:                                                       
                                                                              
                                            2004            2003              
                                            RMB'000         RMB'000           
    Earnings:                                                                 
    Net profit for the year for the                                           
    purposes of basic                                                         
    earnings per share                       90,135       78,718              
                                                         --------             
    Effect of dilutive potential ordinary                                     
    shares:                                                                   
    Interest on convertible notes                94                           
                                            --------                          
    Net profit for the year for the purpose of                                
    diluted earnings per share                90,229                          
                                            ---------                         
                                                                              
                                                    2004            2003      
                                                    ----            ----      
    Number of shares:                                                         
                                                                              
    Weighted average number of ordinary shares for                            
    the purposes of basic earnings per share    404,767,213    344,916,164    
                                                              -------------   
                                                                              
    Effect of dilutive potential ordinary shares:                             
    Convertible notes                             1,557,377                   
                                                -----------                   
    Weighted average number of ordinary shares                                
    for the purpose of diluted earnings per share                             
                                                406,324,590                   
                                               -------------                  
                                                                              
    The 300,000,000 shares that were issued prior to the listing of the       
    Company's shares on the Stock Exchange on 2 July 2003 and pursuant to the 
    group reorganisation are treated as if they had been in issue throughout  
    the year ended 31 December 2003.                                          
                                                                              
    The computation of diluted earnings per share does not assume the exercise
    of the Company's outstanding share options as the exercise price of these 
    options is higher than the average market price for the Company's shares  
    for the year ended 31 December 2004.                                      
                                                                              
    There were no potential dilutive ordinary shares outstanding during the   
    year ended 31 December 2003.                                              
                                                                              
    For more details, please refer to the press announcement today.