08:56     VISION GRANDE<02300> - Results Announcement                         

    Vision Grande Group Holdings Limited announced on 20/04/2005:             
    (stock code: 02300 )                                                      
    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                           : 333,170            232,027           
    Profit/(Loss) from Operations      : 89,533             55,418            
    Finance cost                       : (9,274)            (8,776)           
    Share of Profit/(Loss) of                                                 
      Associates                       : 43,792             54,470            
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 110,815            90,252            
    % Change over Last Period          : +22.78    %                          
    EPS/(LPS)-Basic (in dollars)       : 0.290              0.282             
             -Diluted (in dollars)     : 0.289              N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 110,815            90,252            
    Final Dividend                     : $0.052             NIL               
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 18/05/2005         to 20/05/2005 bdi.
    Payable Date                       : 10/06/2005                           
    B/C Dates for Annual                                                      
      General Meeting                  : 18/05/2005         to 20/05/2005 bdi.
    Other Distribution for             : Special Dividend $0.03125 per share  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : 18/05/2005         to 20/05/2005 bdi.
                                                                              
    Remarks:                                                                  
                                                                              
    1.      Group reorganisation and basis of preparation                     
                                                                              
    The Company was incorporated as an exempted company with limited liability
    in the Cayman Islands on 27 November 2003 under the Companies Law, Cap. 22
    (Law 3 of 1961, as consolidated and revised) of the Cayman Islands.       
                                                                              
    Pursuant to a group reorganisation (the "Group Reorganisation") to        
    rationalise the structure of the Group in preparation for the listing of  
    the Company's shares (the "Shares") on the main board (the "Main Board")  
    of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), the    
    Company became the holding company of the subsidiaries now comprising the 
    Group on 10 March 2004.  Further details of the Group Reorganisation are  
    set out in the prospectus of the Company dated 16 March 2004.             
                                                                              
    The Shares were listed on the Main Board of the Stock Exchange on 26 March
    2004.                                                                     
                                                                              
    The Group Reorganisation has been accounted for as a reorganisation of    
    businesses under common control under the merger accounting methodology.  
    Accordingly, the consolidated financial statements have been prepared on  
    the basis of historical costs and as if the subsidiaries had been part of 
    the Group throughout the periods presented, except for any acquisitions or
    disposals subsequent to the Group Reorganisation, which are accounted for 
    under the acquisition basis of accounting.                                
                                                                              
    2.      Earnings per share                                                
                                                                              
    Basic earnings per share is calculated based on the profit attributable to
    shareholders for the year of approximately HK$110,815,000 (2003: HK$90,   
    252,000) and the weighted average number of approximately 381,589,000     
    Shares (2003: 320,000,000 Shares) outstanding after the Group             
    Reorganisation as if those Shares had been outstanding from 1 January     
    2003.                                                                     
                                                                              
    Diluted earnings per share is calculated based on the profit attributable 
    to shareholders for the year of approximately HK$110,815,000 (2003: HK$90 
    ,252,000) and the weighted average number of approximately 383,217,000    
    Shares (2003: 320,000,000 Shares) outstanding after the Group             
    Reorganisation as if those Shares has been outstanding from 1 January     
    2003.                                                                     
                                                                              
    For more details, please refer to the press announcement today.