09:14     GREENCOOL TECH<08056> - Quarterly Results Announcement (2)          

                                                                              
    Turnover from continuing operations and discontinued operations           
                                                                              
                                 For the three months ended 31 March          
                                                2005          2004            
                                             RMB'000       RMB'000            
    Continuing Operations                     53,258        22,675            
    Discontinued Operations                        0             0            
                                           ----------     ---------           
                                              53,258        22,675            
                                          ===========     =========           
                                                                              
    (3) Profit from continuing operations and discontinued operations         
                                                                              
                                 For the three months ended 31 March          
                                                2005          2004            
                                             RMB'000       RMB'000            
    Continuing Operations                      7,846         3,171            
    Discontinued Operations                        0             0            
                                            ----------     ---------          
                                               7,846         3,171            
                                            ===========    =========          
                                                                              
    (4) Taxation                                                              
                                For the three months ended 31 March           
                                                2005          2004            
                                             RMB'000       RMB'000            
    PRC enterprise Income Tax charge                                          
     - Current year                            1,049           691            
                                            ----------     ---------          
                                               1,049           691            
                                            ===========    =========          
                                                                              
    Pursuant to the relevant income tax laws of the PRC applicable to         
    enterprises with foregin investment and foreign enterprises, the          
    Group's PRC subsidiaries with foreign investment are subject to           
    PRC Enterprise Income Tax at rates ranging from 7.5% to 15%               
    (2004: 7.5% to 15%). Certain of the Group'S PRC subsidiaries are          
    foreign investment enterprises of a production nature established         
    in the PRC. Accordingly, these subsidiaries are entitled to tax           
    exemption for the first two years of profitable operations and 50%        
    tax reduction in the following three years of operations. In              
    addition, one of the Group's PRC subsidiaries is a foreign                
    investment enterprise of production nature and is located in New          
    and High Technology Development Zone in the PRC. Accordingly,             
    this subsidiary is entitled to tax exemption for the first three          
    years of operations and 50% tax reduction in the following three          
    years of operations.                                                      
                                                                              
                                                                              
    The income tax rate for one of the Group's PRC subsidiaries is 33%.       
                                                                              
                                                                              
    No provision for Hong Kong Profits Tax has been made in the               
    financial statements as the Group's income neither arises in              
    nor is derived from Hong Kong.                                            
                                                                              
                                                                              
    (4) Earnings per share                                                    
                                                                              
    The calculation of the basic earnings per share is based on the net       
    profit for first quarter of 2005 of RMB4,888,000 (2004:                   
    RMB1,460,000) and on 1,000,000,000 shares (2004: 1,000,000,000            
    shares ) outstanding during the period.                                   
                                                                              
    No diluted earnings per share have been presented as there were no        
    dilutive potential ordinary shares in issue in both periods.