13:10     HANS ENERGY<00554> - Results Announcement (1)                       

    Hans Energy Company Limited announced on 25/04/2005:                      
    (stock code: 00554 )                                                      
    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                           : 192,184            165,712           
    Profit/(Loss) from Operations      : 143,098            103,673           
    Finance cost                       : (9,060)            (9,731)           
    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       : 114,769            86,315            
    % Change over Last Period          : +33       %                          
    EPS/(LPS)-Basic (in dollars)       : 0.208              0.163             
             -Diluted (in dollars)     : 0.191              N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 114,769            86,315            
    Final Dividend                     : $0.01              Nil               
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 18/05/2005         to 23/05/2005 bdi.
    Payable Date                       : 31/05/2005                           
    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 PREPARATION OF FINANCIAL STATEMENT                           
                                                                              
    On 10th January, 2005, the Company changed its financial year end date    
    from 31st March to 31st December.                                         
                                                                              
    In December 2004, the Company completed the acquisition of the entire     
    interest in Union Petro-Chemicals (BVI) Company Limited ("UPC") (the      
    "Acquisition").  Under accounting principles generally accepted in Hong   
    Kong, the Acquisition has been accounted for as a reverse acquisition     
    because the issuance of the consideration shares and convertible note in  
    exchange for the entire interest in UPC resulted in Vand Petro-Chemicals  
    (BVI) Company Limited ("Vand Petro-Chemicals") becoming the controlling   
    shareholder of the Company. For accounting purposes, UPC and its          
    subsidiaries (the "UPC Group") is treated as the acquirer while the       
    Company and its subsidiaries are deemed to have been acquired by the UPC  
    Group. Along this principle, these consolidated financial statements have 
    been prepared as a continuation of the consolidated financial statements  
    of the UPC Group and comparative information presented are that of UPC    
    Group.                                                                    
                                                                              
    2.  PROFIT FROM OPERATIONS                                                
                                                                              
    The profit from operations included a gain on disposal of subsidiaries    
    amounting HK$6,432,000 (2003:nil) which represented the gain on disposal  
    of the Group's entire interest in subsidiaries engaging in paper packaging
    products business during the year ended 31st December, 2004.