09:52     ZHENGZHOU GAS<08099> - Quarterly Results Announcement (2)           

                                                                              
    2.Turnover                                                                
                                         Three months ended 31 March          
                                                                              
                                                 2005          2004           
                                              RMB'000       RMB'000           
                                                                              
    Natural gas                               128,848        74,037           
    LPG                                         3,217             0           
    Gas appliances and pressure control                                       
    equipment                                   1,665           853           
    Gas pipelines:                                                            
    -Construction of gas pipelines             34,407        30,932           
    -Repairs and maintenance of gas pipelines   8,316         5,573           
    Others                                         23            24           
                                           ----------     ----------          
                                              176,476       111,419           
                                                                              
    Less: Business tax and                                                    
          government surcharges                (1,353)         (992)          
                                           ----------     ---------           
                                                                              
    Turnover                                  175,123       110,427           
                                           ==========     =========           
                                                                              
                                                                              
                                                                              
    3.Income tax expenses                                                     
    According to the relevant PRC laws and regulations, the Company and       
    its subsidiaries are subject to corporate income tax at a rate of         
    33% of their taxable profits. No provision for Hong Kong profits tax      
    has been made as the Group had no assessable profits arising in HK        
    during the three months ended 31 March 2005 ("the Relevant Period").      
                                                                              
                                         Three months ended 31 March          
                                                2005          2004            
                                             RMB'000       RMB'000            
                                                                              
    Provision for income tax                                                  
    for the Relevant Period:                                                  
                                                                              
    -Current                                    1,153        2,500            
    -Deferred                                   5,541        4,940            
                                           ----------     ---------           
    Tax expenses                                6,694        7,440            
                                           ==========     ========            
                                                                              
    4.Earnings per share                                                      
    Basic earnings per share for the Relevant Period is computed by           
    dividing net profit attributable to shareholders of approximately         
    RMB27,186,000 (2004: approximately RMB18,859,000) by the weighted         
    average number of 1,251,500,000 ordinary shares (2004:1,251,500,000       
    ordinary shares) in issue during the Relevant Period.                     
                                                                              
    Diluted earnings per share for the three months ended 31 March            
    2004 and 2005 have not been calculated because there were no              
    potential dilutive ordinary shares outstanding during the three           
    months ended 31 March 2004 and 2005.                                      
                                                                              
                                                                              
    5.Dividend                                                                
    The Board does not recommend the payment of any dividend for the          
    three months ended 31 March 2005.