08:44     GOLDEN RESORTS<01031> - Results Announcement (1)                    

    Golden Resorts Group Limited announced on 27/04/2005:                     
    (stock code: 01031 )                                                      
    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                           : 141,655            90,022            
    Profit/(Loss) from Operations      : (10,145)           1,178             
    Finance cost                       : (943)              (1,038)           
    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       : (11,092)           (144)             
    % Change over Last Period          : N/A       %                          
    EPS/(LPS)-Basic (in dollars)       : (0.0014)           (0.00009)         
             -Diluted (in dollars)     : N/A                N/A               
    Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
    Profit/(Loss) after ETD Items      : (11,092)           (144)             
    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 (-)                                                         
      General Meeting                  : N/A                                  
    Other Distribution for             : N/A                                  
      Current Period                                                          
                                                                              
    B/C Dates for Other                                                       
      Distribution                     : N/A                                  
                                                                              
    Remarks:                                                                  
                                                                              
                                                                              
    1       Segmental information                                             
                                                                              
    In accordance with the Group's internal financial reporting, the Group has
    determined that business segments be presented as the primary reporting   
    format and geographical segments as the secondary reporting format.       
                                                                              
    a)      By business segment                                               
                                                                              
    For management purposes, the Group is currently organised into two        
    divisions, namely manufacturing and selling of watches and watch          
    components, and investment in listed securities.                          
                                                                              
    The following tables represent revenue and profit/(loss) information on   
    each of the above business segments for the years ended 31 December 2003  
    and 2004.                                                                 
                                                                              
    Manufacturing and selling of watches                                      
    and watch components            Investments in                            
                                    listed securities       Consolidated      
                                                                              
    2004    2003                    2004    2003            2004    2003      
    HK$'000 HK$'000                 HK$'000 HK$'000         HK$'000 HK$'000   
    Turnover                                                                  
    External sales                                                            
    126,176 85,270                  15,479  4,752           141,655 90,022    
    =======================================================================   
    Results                                                                   
    Segment result                                                            
    (4,677) 3,312                   (1,572) 1,583           (6,249) 4,895     
    ==============================================                            
                                                                              
    Interest income                                         5       -         
    Unallocated corporate expenses                          (3,901) (3,717)   
                                                            ------------------
    (Loss)/ profit from operation                           (10,145) 1,178    
                                                            ------------------
    Finance costs                                           (943)   (1,038)   
                                                            ------------------
    (Loss)/profit before taxation                           (11,088) 140      
    Taxation                                                (4)      (284)    
                                                            ------------------
    Loss for the year                                       (11,092) (144)    
                                                            =================