13:39     HOP FUNG GROUP<02320> - Results Announcement (1)                    

    Hop Fung Group Holdings Limited announced on 21/04/2005:                  
    (stock code: 02320 )                                                      
    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                           : 760,981            592,554           
    Profit/(Loss) from Operations      : 77,423             65,623            
    Finance cost                       : (2,552)            (4,173)           
    Share of Profit/(Loss) of                                                 
      Associates                       : N/A                N/A               
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 67,152             55,687            
    % Change over Last Period          : +20.6     %                          
    EPS/(LPS)-Basic (in dollars)       : 0.183              0.188             
             -Diluted (in dollars)     : 0.182              0.188             
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 67,152             55,687            
    Final Dividend                     : 4.22 cents         1.26 cents        
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 25/05/2005         to 30/05/2005 bdi.
    Payable Date                       : 17/06/2005                           
    B/C Dates for Annual                                                      
      General Meeting                  : 25/05/2005         to 30/05/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
                                                                              
    1.      Group Restructuring                                               
                                                                              
    The Company is an exempted company with limited liability incorporated in 
    the Cayman Islands under the Companies Law, Cap. 22 (Law 3 of 1961, as    
    consolidated and revised) of the Cayman Islands and its shares are listed 
    on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").        
                                                                              
    Pursuant to a group reorganisation scheme (the "Group Reorganisation") to 
    rationalise the structure of the Company and its subsidiaries (hereinafter
    collectively referred to as the "Group") in preparation for the listing of
    the Company's shares on the Main Board of the Stock Exchange, on 25th     
    August, 2003, the Company issued shares in exchange for the entire issued 
    share capital of Hop Fung Group Company Limited, the former holding       
    company of the Company's subsidiaries, and thereby becoming the holding   
    company of the Group.  Details of the Group Reorganisation and the public 
    offer and placing of shares in the Company are set out in the prospectus  
    dated 15th September, 2003 issued by the Company.                         
                                                                              
    The Group resulting from the Group Reorganisation is regarded as a        
    continuing entity.  Accordingly, the financial statements of the Group for
    the year ended 31st December, 2003 have been prepared using the principles
    of merger accounting in accordance with Statement of Standard Accounting  
    Practice 27 "Accounting for Group Reconstructions" issued by the Hong Kong
    Institute of Certified Public Accountants (the "HKICPA").                 
                                                                              
    2.      Potential Impact Arising From The Recently Issued Accounting      
    Standards                                                                 
                                                                              
    In 2004, the HKICPA issued a number of new or revised Hong Kong Accounting
    Standards and Hong Kong Financial Reporting Standards ("HKFRSs") (        
    hereinafter collectively referred to as "new HKFRSs") which are effective 
    for accounting periods beginning on or after 1st January, 2005.  The Group
    has not early adopted these new HKFRSs in the financial statements for the
    year ended 31st December, 2004.                                           
                                                                              
    The Group has commenced considering the potential impact of these new     
    HKFRSs but is not yet in a position to determine whether these new HKFRSs 
    would have a significant impact on how its results of operations and      
    financial position are prepared and presented.  These new HKFRSs may      
    result in changes in the future as to how the results and financial       
    position are prepared and presented.