08:56     ZHONGTIAN INT'L<02379> - Results Announcement (1)                   

    Zhongtian International Limited announced on 25/04/2005:                  
    (stock code: 02379 )                                                      
    Year end date: 31/12/2004                                                 
    Currency: RMB                                                             
    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                           : 114,956,000        109,395,000       
    Profit/(Loss) from Operations      : 35,977,000         54,319,000        
    Finance cost                       : (1,143,000)        N/A               
    Share of Profit/(Loss) of                                                 
      Associates                       : (52,000)           (598,000)         
    Share of Profit/(Loss) of                                                 
      Jointly Controlled Entities      : N/A                N/A               
    Profit/(Loss) after Tax & MI       : 34,901,000         46,137,000        
    % Change over Last Period          : -24.4     %                          
    EPS/(LPS)-Basic (in dollars)       : 0.1121             0.1676            
             -Diluted (in dollars)     : 0.1067             N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : 34,901,000         46,137,000        
    Final Dividend                     : HK$0.025           Nil               
      per Share                                                               
    (Specify if with other             : N/A                N/A               
      options)                                                                
                                                                              
    B/C Dates for                                                             
      Final Dividend                   : 06/06/2005         to 10/06/2005 bdi.
    Payable Date                       : 11/07/2005                           
    B/C Dates for Annual                                                      
      General Meeting                  : 06/06/2005         to 10/06/2005 bdi.
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
    1.  REORGANISATION AND BASIS OF PREPARATION OF THE FINANCIAL STATEMENTS   
                                                                              
    The Company was incorporated in the Cayman Islands as an exempted company 
    with limited liability on 23 December 2003 under the Companies Law of the 
    Cayman Islands. Its shares have been listed on the Main Board of The Stock
    Exchange of Hong Kong Limited (the "Stock Exchange") since                
    22 September 2004.                                                        
                                                                              
    Pursuant to a group reorganisation (the "Reorganisation") in preparation  
    for the listing of the Company's shares, the Company became the ultimate  
    holding company of the subsidiaries now comprising the Group on           
    6 January 2004. Details of the Reorganisation are set out in the          
    prospectus issued by the Company on 10 September 2004.                    
                                                                              
    The Group resulting from the Reorganisation is regarded as a continuing   
    entity. Accordingly, the financial statements of the Group have been      
    prepared using the principle of merger accounting in accordance with      
    Statement of Standard Accounting Practice No. 27 "Accounting for Group    
    Reconstructions" issued by 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 (herein collectively
    referred to as "New HKFRSs") which are effective for accounting periods   
    beginning on or after 1 January 2005. The Group has not early adopted     
    these New HKFRSs in the financial statements for the year ended           
    31 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.                                      
                                                                              
    3. BUSINESS AND GEOGRAPHICAL SEGMENTS                                     
                                                                              
    Business segments                                                         
                                                                              
    For management purposes, the Group's operation is currently categorised   
    into four operating divisions - system integration, customised software   
    products, sale of hardware and software products and maintenance and other
    services. These divisions are the basis on which the Group reports its    
    primary segment information.