08:29     SHENZHEN INVEST<00604> - Results Announcement                       

    Shenzhen Investment Limited announced on 15/04/2005:                      
    (stock code: 00604 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: HKD                                                             
    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                           : 2,000,131          1,893,413         
    Profit/(Loss) from Operations      : 373,537            292,399           
    Finance cost                       : (115,034)          (89,802)          
    Share of Profit/(Loss) of                                                 
      Associates                       : N/A                (58,727)          
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : 374,499            308,177           
    Profit/(Loss) after Tax & MI       : 354,779            236,011           
    % Change over Last Period          : +50.32    %                          
    EPS/(LPS)-Basic (in dollars)       : 0.1429             0.0969            
             -Diluted (in dollars)     : 0.1426             0.0962            
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 354,779            236,011           
    Final Dividend                     : 3.00 cents         2.50 cents        
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 01/06/2005         to 06/06/2005 bdi.
    Payable Date                       : 27/06/2005                           
    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 and accounting policies                          
                                                                              
    The financial statements have been prepared in accordance with Hong Kong  
    Financial Reporting Standards  (which also include Statements of Standard 
    Accounting Practice ("SSAPs") and Interpretations) issued by the Hong Kong
    Institute of Certified Public Accountants ("HKICPA") , accounting         
    principles generally accepted in Hong Kong and the Companies Ordinance.   
    They have been prepared under the historical cost convention, except for  
    the periodic remeasurement of investment properties, equity investments   
    and certain fixed assets.                                                 
                                                                              
    The HKICPA has issued a number of new Hong Kong Financial Reporting       
    Standards and Hong Kong Accounting Standards, herein collectively referred
    to as the new HKFRSs, which are generally 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 new HKFRSs may result in changes in the future as to
    how the Group's financial performance and financial position are prepared 
    and presented.                                                            
                                                                              
                                                                              
    2.   Earnings per share                                                   
                                                                              
    The calculation of basic earnings per share is based on the net profit    
    attributable to shareholders for the year of HK$354,779,000 (2003:        
    HK$236,011,000), and the weighted average of 2,482,413,966 (2003:         
    2,434,376,158) ordinary shares in issue during the year.                  
                                                                              
    The calculation of diluted earnings per share is based on the net profit  
    attributable to shareholders for the year of HK$354,779,000 (2003:        
    HK$236,011,000). The weighted average number of ordinary shares used in   
    the calculation is the 2,482,413,966 (2003: 2,434,376,158) ordinary shares
    in issue during the year, as used in the basic earnings per share         
    calculation, and the weighted average of 5,952,105 (2003: 19,190,504)     
    ordinary shares assumed to have been issued at no consideration on the    
    deemed exercise of all share options during the year.                     
                                                                              
                                                                              
    3.  Comparative amounts                                                   
                                                                              
    During the current year, the presentation of certain items in the         
    financial statements has been revised and certain comparative amounts have
    been reclassified to conform with the current year's presentation.        
                                                                              
    For more details, please refer to the press announcement today.