CHYY Development Group Limited — Earnings Release 2003

May 13, 2003

GEM

IIN INT'L<08128> - Results Announcement (Q2, 2002/2003, Summary)

IIN International Limited announced on 12/05/2003:
(stock code :08128)

Year end date :30/09/2003
Currency :HKD
Auditors' report :N/A
Review of 2nd 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 01/10/2002   from 01/10/2001
                                     to 31/03/2003     to 31/03/2002
                                             $'000             $'000

Turnover : 80,242 48,151
Profit/(Loss) from Operations : (8,043) 1,043
Finance cost : (1,851) (2,373)
Share of Profit/(Loss) of Associates : N/A N/A
Share of Profit/(Loss) of Jointly
Controlled Entites : N/A N/A
Profit/(Loss) after Taxation & MI : (9,882) 204
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0069) HKD 0.0002
Diluted (in dollar) : N/A HKD 0.0002
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (9,882) 204
2nd Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 2nd 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

                                          For and on behalf of
                                       IIN International Limited
                        Signature :
                             Name :      Chang Ye Min, William
                            Title :         President & CEO

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 unaudited results have been prepared in accordance with the
Hong Kong Statements of Standard Accounting Practice issued by
Hong Kong Society of Accountants.

1. Earnings/(loss) per share

The calculation of basic loss per share for the six months
ended 31 March 2003 is based on the unaudited consolidated
net loss from ordinary activities attributable to shareholders
of HK$9,882,000 (six months ended 31 March 2002: net profits
attributable to shareholders of HK$204,000) and the weighted
average of 1,426,672,735 shares (2002: 1,234,415,086 shares)
in issue during the period.

The diluted loss per share for the six months ended
31 March 2003 is not presented as the potential ordinary shares
outstanding had an anti-dilutive effect on the basic loss per
share for the six months ended 31 March 2003.

The calculation of diluted earnings per share for the six months
ended 31 March 2002 is based on the unaudited consolidated net
profits from ordinary activities attributable to shareholders
of HK$204,000. The weighted average number of ordinary shares
used in the calaulation of diluted earnings per share for the
six months ended 31 March 2002 is 1,274,221,396 shares.

1. Dividend

The Board does not recommend payment of any dividend for
the six months ended 31 March 2003 (2002: Nil)