13:38     FUSHAN HOLDINGS<00639> - Results Announcement                       

    Fushan Holdings Limited announced on 21/04/2005:                          
    (stock code: 00639 )                                                      
    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                           : 7,560              1,470             
    Profit/(Loss) from Operations      : (15,901)           (1,504)           
    Finance cost                       : (109)              N/A               
    Share of Profit/(Loss) of                                                 
      Associates                       : (2,743)            (1,301)           
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : (14,708)           (2,805)           
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : (0.0071)           (0.0013)          
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : (14,708)           (2,805)           
    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 (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.  BASIS OF PRESENTATION                                                 
                                                                              
    The financial statements have been prepared on a going concern basis,     
    notwithstanding that the Group had net current liabilities as at 31       
    December 2004. In the opinion of the directors, the Group will have       
    sufficient cash resources to satisfy its future working capital and other 
    financing requirements, after taking into consideration an undertaking    
    made by China Merit Limited, the ultimate holding company of the Company, 
    to provide continuing financial support to the Group so as to enable the  
    Group to continue in business as a going concern and to meet its          
    liabilities and obligations as and when they fall due for the period at   
    least up to 31 December 2005. Accordingly, the financial statements have  
    been prepared on a going concern basis.                                   
                                                                              
                                                                              
    2.  LOSS PER SHARE                                                        
                                                                              
    (a) Basic                                                                 
                                                                              
    The calculation of basic loss per share is based on the Group's loss      
    attributable to shareholders for the year of HK$14,708,000 (2003:         
    HK$2,805,000) and 2,080,800,000 (2003: 2,080,800,000) ordinary shares     
    in issue during the year.                                                 
                                                                              
    (b) Diluted                                                               
                                                                              
    No diluted loss per share has been presented as the Company did not       
    have any share options outstanding for both 2003 and 2004.