13:40     HOP FUNG GROUP<02320> - Results Announcement (2)                    

    3.      Earnings Per Share                                                
                                                                              
    The calculation of the basic and diluted earnings per share is based on   
    the following data:                                                       
                                                                              
                                                   Year ended 31 December,    
                                                             2004    2003     
                                                          HK$'000 HK$'000     
    Earnings                                                                  
                                                                              
    Profit for the year                                    67,152  55,687     
                                                           ==============     
                                                                              
                                                             2004    2003     
    Number of shares                                                          
                                                                              
    Weighted average number of shares for the                                 
            purpose of basic earnings per share   366,362,661   295,735,003   
                                                                              
    Effect of dilutive potential shares in respect                            
            of share options                        2,567,132       170,995   
                                                   ------------------------   
    Weighted average number of shares for the                                 
        purpose of diluted earnings per share     368,929,793   295,905,998   
                                                  =========================   
                                                                              
    The weighted average number of shares for 2003 has been arrived at on the 
    assumption that the 2,000,000 shares issued upon the Group Reorganisation 
    and the 268,000,000 shares issued pursuant to the capitalisation issue had
    been completed prior to 1st January, 2003.