China Netcom Technology Holdings Limited — Earnings Release 2003

Nov 12, 2003

GEM

GLORY FUTURE GP<08071> - Results Announcement (Q3, 2003, Summary)

Glory Future Group Limited announced on 12/11/2003:
(stock code: 08071 )

Year end date :31/12/2003
Currency :HKD
Auditors' report :N/A
Review of 3rd Quarterly Report 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 1/1/2003     from 1/1/2002
                                      to 30/9/2003      to 30/9/2002
                                             $'000             $'000

Turnover : 604 582
Profit/(Loss) from Operations : (3,444) (6,891)
Finance cost : 723 683
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : (4,167) (7,424)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0055) (HKD 0.0114)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (4,167) (7,424)
3rd Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 3rd Quarterly 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
                                   Glory Future Group Limited
                        Signature :
                             Name :Leung Wai Sze
                            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 preparaton

The accounting policies and methods of computation adopted in the
preparation of the accounts are consistent with those adopted in
the annual accounts for the year ended 31 December 2002, except
that the Group has adopted the revised SSAPs which became
effective on 1 January 2003. The adoption of these revised SSAPs
has no material effect on the Group's results.

1. Interim dividend

The Board does not recommend the payment of an interim dividend in
respect of the nine months ended 30 September 2003 (nine months
ended September 2002 : Nil).

1. Loss per share

The calculaton of basic loss per share is based on the net loss
attributable to shareholders for the three months and nine months
ended 30 September 2003 of HK$1,095,000 and HK$4,167,000
respectively (three months and nine months ended 30 September 2002:
HK$2,385,000 and HK$7,424,000 respectively) and the weighted
average number of 753,720,000 ordinary shares of the Company
in issue during the aforementioned two periods ended
30 September 2003 (three months and nine months ended
30 September 2002 : 653,720,000 shares).

Diluted loss per share for the three months and nine months ended
30 September 2003 and that for the three months and nine months
ended 30 September 2002 have not been presented as the share
options outstanding during the periods had an anti-dilutive effect
on the basic loss per share for the relevant periods.