13:08     SHOUGANG CENT<00103> - Results Announcement (2)                     

    2.  Earnings per share                                                    
                                                                              
    The calculation of the basic and diluted earnings per share is based on   
    the following data:                                                       
                                                                              
                                                                              
                                                         2004           2003  
                                                         ----           ----  
                                                      HK$'000        HK$'000  
                                                      -------        -------  
                                                                              
    Profit for the year for the purpose of                                    
    calculation of basic and diluted earnings per                             
    share                                             148,114         66,092  
                                                     ========       ========  
                                                                              
                                                                              
    Weighted average number of ordinary shares for                            
    the purposes of basic earnings per share    1,019,614,692    881,110,017  
                                                                              
                                                                              
    Effect of dilutive potential ordinary shares:                             
      Options                                     103,108,012     63,319,274  
                                                -------------    -----------  
                                                                              
                                                                              
    Weighted average number of ordinary shares for                            
    the purposes of diluted earnings per share  1,122,722,704    944,429,291  
                                                ==============   ===========