08:52     FULBOND HOLDING<01041> - Results Announcement (1)                   

    Fulbond Holdings Limited announced on 22/04/2005:                         
    (stock code: 01041 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: USD                                                             
    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  ($         )       ($         )      
    Turnover                           : 24,532             28,114            
    Profit/(Loss) from Operations      : (4,109)            (8,739)           
    Finance cost                       : (794)              (1,161)           
    Share of Profit/(Loss) of                                                 
      Associates                       : (1,176)            (1,386)           
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : (2,995)            (4,653)           
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : (0.0003)           (0.0005)          
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : (2,995)            (4,653)           
    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 Annual                                                      
      General Meeting                  : 30/05/2005         to 03/06/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
                                                                              
    (1)     Included in loss from operations, there are four items disclosed  
    as follows:-                                                              
                                                                              
                                                    2004            2003      
                                                    USD'000         USD'000   
            a)     Other operating income comprises:                          
                                                                              
                    Interest income                 26              16        
                    Value added tax refund (note)   2,729           2,048     
                    Net realised gain on disposals                            
                      of investments in securities  ----            11        
                    Rental income (net of negligible                          
                            outgoings)              ----            153       
                    Others                          194             560       
                                                    ------------------------  
                                                    2,949           2,788     
                                                    ========================  
                                                                              
    Note:                                                                     
    Certain subsidiaries of the Company established in the PRC are involved in
    the production of wooden products which require the use of the raw        
    materials that are environmental friendly.  Pursuant to the relevant rules
    and regulations of the PRC governing the value added tax ("VAT") treatment
    of such subsidiaries entitled to VAT refund totalling US$2,729,000 (2003: 
    US$2,048,000) for the year ended 31 December 2004.                        
                                                                              
                                                    2004            2003      
                                                    -----------------------   
                                                    USD'000         USD'000   
            b)     Impairment loss recognised in                              
                     respect of goodwill            ----            (2,138)   
                                                    =======================   
                                                                              
                                                    2004            2003      
                                                    ----------------------    
                                                    USD'000         USD'000   
            c)     Impairment loss recognised in                              
                    respect of investment in                                  
                    securities                      (1,974)         ----      
                                                    ======================    
                                                                              
                                                    2004            2003      
                                                    -----------------------   
                                                    USD'000         USD'000   
            d)     Impairment loss recognised in                              
                    respect of property, plant and                            
                    equipment                       (449)           (710)     
                                                    ======================