08:34     GUANGNAN (HOLD)<01203> - Results Announcement (1)                   

    Guangnan (Holdings) Limited announced on 15/04/2005:                      
    (stock code: 01203 )                                                      
    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                           : 828,349            1,525,807         
    Profit/(Loss) from Operations      : 78,511             72,949            
    Finance cost                       : (697)              (7,664)           
    Share of Profit/(Loss) of                                                 
      Associates                       : 27,252             19,376            
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : 0                  0                 
    Profit/(Loss) after Tax & MI       : 132,248            102,762           
    % Change over Last Period          : +28.69    %                          
    EPS/(LPS)-Basic (in dollars)       : 0.0147             0.0114            
             -Diluted (in dollars)     : N/A                0.0112            
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 132,248            102,762           
    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                  : 14/06/2005         to 15/06/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.      Analysis of turnover and profit/(loss) from operations            
                                                                              
    Analysis of the turnover and profit/(loss) from operations by principal   
    activities of Guangnan (Holdings) Limited and its subsidiaries            
    ("the Group") are as follows:-                                            
                                                                              
                                                    Group turnover            
                                            12 months ended 31 December       
                                            2004            2003              
                                            HK$'000         HK$'000           
    By principal activities                                                   
    Continuing operations                                                     
    Tinplating                              574,443         538,765           
    Live and fresh foodstuffs distribution  50,572          751,901           
    Foodstuffs trading                      31,438          52,190            
    Property leasing                        25,422          37,059            
                                            ---------       ---------         
                                            681,875         1,379,915         
    Discontinued operations                                                   
    Feed production and livestock farming   146,474         145,892           
                                            ---------       ---------         
                                            828,349         1,525,807         
    Unallocated operating income and                                          
      expenses                              -               -                 
                                            ----------      ---------         
                                            828,349         1,525,807         
                                            ==========      =========         
                                                                              
                                            Profit/(Loss) from operations     
                                            12 months ended 31 December       
                                            2004            2003              
                                            HK$'000         HK$'000           
    By principal activities                                                   
    Continuing operations                                                     
    Tinplating                              48,214          57,153            
    Live and fresh foodstuffs distribution  13,872          11,100            
    Foodstuffs trading                      113             646               
    Property leasing                        17,479          26,491            
                                            ----------      ---------         
                                            79,678          95,390            
    Discontinued operations                                                   
    Feed production and livestock farming   2,468           (12,122)          
                                            ----------      ---------         
                                            82,146          83,268            
    Unallocated operating income and                                          
      expenses                              (3,635)         (10,319)          
                                            ----------      ---------         
                                            78,511          72,949            
                                            ==========      =========