09:22     CO-WINNER<08108> - Quarterly Results Announcement (1)               

    Co-winner Enterprise Limited announced on 11/05/2005:                     
    (stock code: 08108 )                                                      
                                                                              
    Year end date                         :31/12/2005                         
    Currency                              :HKD                                
    Auditors' report                      :N/A                                
    1st Quarterly Report Reviewed by      :Audit Committee                    
                                                                              
    Important Note :                                                          
                                                                              
    This result announcement form only contains extracted information from    
    and should be read in conjunction with the detailed results announcement  
    of the issuer, which can be viewed on the GEM website at                  
    http://www.hkgem.com                                                      
                                                                              
                                               (Unaudited)       (Unaudited)  
                                                  Current Last Corresponding  
                                                   Period            Period   
                                           from 01/01/2005   from 01/01/2004  
                                             to 31/03/2005     to 31/03/2004  
                                                     $'000             $'000  
                                                                              
    Turnover                              :          1,227                 0  
    Profit/(Loss) from Operations         :             79             (940)  
    Finance cost                          :            (1)               (1)  
    Share of Profit/(Loss) of Associates  :            N/A              (92)  
    Share of Profit/(Loss) of Jointly                                         
             Controlled Entites           :            N/A               N/A  
    Profit/(Loss) after Taxation & MI     :        (1,564)             (898)  
    % Change Over the Last Period         :            N/A                    
    EPS / (LPS)                                                               
              Basic (in dollar)           :    (HKD 0.019)       (HKD 0.017)  
              Diluted (in dollar)         :            N/A               N/A  
    Extraordinary (ETD) Gain/(Loss)       :            N/A               N/A  
    Profit (Loss) after ETD Items         :        (1,564)             (898)  
    1st Quarter Dividends per Share       :            NIL               NIL  
    (specify if with other options)       :            N/A               N/A  
    B/C Dates for 1st Quarter Dividends   :            N/A                    
    Payable Date                          :            N/A                    
    B/C Dates for (-) General Meeting     :            N/A                    
    Other Distribution for Current Period :            NIL                    
    B/C Dates for Other Distribution      :            N/A                    
                                           (bdi: both days inclusive)         
                                                                              
    For and on behalf of                                                      
    Co-winner Enterprise Limited                                              
                                                                              
    Signature :                                                               
    Name      : TAI Chi-ching                                                 
    Title     : Executive Director                                            
                                                                              
    Responsibility statement                                                  
                                                                              
    The directors of the Company (the "Directors") as at the date hereof      
    hereby collectively and individually accept full responsibility for the   
    accuracy of the information contained in this results announcement form   
    (the "Information") and confirm, having made all reasonable inquiries,    
    that to the best of their knowledge and belief the Information are        
    accurate and complete in all material respects and not misleading and     
    that there are no other matters the omission of which would make the      
    Information herein inaccurate or misleading.The Directors acknowledge     
    that the Stock Exchange has no responsibility whatsoever with regard to   
    the Information and undertake to indemnify the Exchange against all       
    liability incurred and all losses suffered by the Exchange in connection  
    with or relating to the Information.                                      
                                                                              
    Remarks:                                                                  
                                                                              
    1. BASIS OF PREPARATION                                                   
                                                                              
    The financial statements have been prepared in accordance with Hong       
    Kong Statements of Standard Accounting Practice issued by the Hong        
    Kong Institute of Certified Public Accountants ("HKICPA"), accounting     
    principles generally accepted in Hong Kong, the disclosure requirements   
    of the Hong Kong Companies Ordinance and the disclosure requirements      
    set out in Chapter 18 of the Rules Governing the Listing of Securities    
    on the Growth Enterprise Market of the Stock Exchange.                    
                                                                              
    In 2004, the HKICPA issued a number of new or revised Hong Kong           
    Accounting Standards and Hong Kong Financial Reporting Standards          
    ("new HKFRSs") which are effective for accounting periods beginning on    
    or after 1 January 2005. The adoption of the new HKFRSs had no material   
    impact on the Group's results of operations and financial position.       
                                                                              
    The principal accounting policies and methods of computation used in      
    the preparation of the first quarterly financial statements are           
    consistent with those used in the annual audited financial statements     
    for the year ended 31 December 2004.