China Netcom Technology Holdings Limited — Earnings Release 2004

Mar 22, 2005

GEM

GLORY FUTURE GP<08071> - Results Announcement (Final, 2004, Summary)

Glory Future Group Limited announced on 22/03/2005:
(stock code: 08071 )

Year end date :31/12/2004
Currency :HKD
Auditors' report :Unqualified

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

                                         (Audited)         (Audited)
                                          Current Last Corresponding
                                           Period            Period
                                   from 01/01/2004   from 01/01/2003
                                     to 31/12/2004     to 31/12/2003
                                             $'000             $'000

Turnover : 133 1,063
Profit/(Loss) from Operations : (2,933) (4,843)
Finance cost : (832) (913)
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : (3,756) (5,756)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.005) (HKD 0.0076)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (3,756) (5,756)
Final Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for Final 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 : Tsui Chun Kuen
Title : Company Secretary

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

These financial statements have been prepared in accordance
with Hong Kong Statements of Standard Accounting Practice
and interpretations, accounting principles generally accepted in
Hong Kong and the disclosure requirements of the Hong Kong
Companies Ordinance. They have been prepared under the historical
cost convention.

1. Loss per share

The calculation of basic loss per share is based on the net loss
attributable to shareholders for the year of HK$3,765,000
(2003 : HK$5,756,000) and 753,720,000 (2003 : 753,720,000)
ordinary shares of the Company in issue during the year.

Diluted loss per share for the years ended 31 December 2004
and 2003 have not been disclosed as the share options and
convertible redeemable notes outstanding during these years had
an anti-dilutive effect on the basic loss per share for these
years.