CHYY Development Group Limited — Earnings Release 2004

Dec 29, 2004

GEM

IIN INT'L<08128> - Results Announcement (Final, 2003/2004, Summary)

IIN International Limited announced on 28/12/2004:
(stock code: 08128 )

Year end date :30/09/2004
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 01/10/2003   from 01/10/2002
                                     to 30/09/2004     to 30/09/2003
                                             $'000             $'000

Turnover : 113,944 166,849
Profit/(Loss) from Operations : (49,568) (35,663)
Finance cost : (2,057) (3,757)
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 : (48,462) (37,603)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0331) (HKD 0.0263)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (48,462) (37,603)
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 Annual General Meeting :27/01/2005 to 28/01/2005 bdi.
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A
(bdi: both days inclusive)

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. Turnover

Turnover represents the net invoiced value of goods sold, after
allowances for returns, trade discounts and business tax where
applicable, and services rendered.

An analysis of the Group��s turnover is as follows:

                                               For the year
                                             ended 30 September
                                              2004        2003
                                           HK$��000     HK$��000
                                         (audited)   (audited)

Network infrastructure solutions 51,721 95,522
Network management solutions 2,838 23,255
Other network solutions for
sectors other than telecommunications 14,467 13,915
Transmission 44,918 34,157
------- -------
113,944 166,849
======= =======

1. Loss from operating activities

The Group��s loss from operating activities is arrived at after
charging:

                                               For the year
                                            ended 30 September
                                              2004        2003
                                           HK$��000     HK$��000
                                          (audited)   (audited)

Cost of inventories sold and
services provided 97,790 143,183
Depreciation 4,780 4,959
Research and development cost:
Deferred development cost amortised 958 1,375
Current year expenditure 5,820 6,850
------- -------
6,778 8,225
------- -------
Goodwill:
Amortisation for the year 3,872 2,773
Impairment arising during the year 15,000 3,407
------- -------
18,872 6,180
------- -------
Minimum lease payments under
operating leases in respect
of land and buildings 1,153 3,308
Auditors' remuneration 580 780
Staff costs (including directors' emoluments)
Wages and salaries 13,186 16,764
Pension scheme contributions 163 274
------- -------
13,349 17,038
------- -------
Provision for doubtful debts 6,889 8,765

Provision for other receivables 2,821 1,275
Provision for obsolete inventory - 165
Loss on disposal of fixed assets 128 44

1. Loss per share

The calculation of basic loss per share is based on the net loss
from ordinary activities attributable to shareholders for the
year of HK$48,462,000 (2003: HK$37,603,000) and the weighted
average of 1,464,197,941 (2003: 1,431,608,528) ordinary
shares in issue during the year.

Diluted loss per share amounts for the years ended 30 September
2004 and 2003 have not been disclosed as the potential ordinary
shares outstanding had an anti-dilutive effect on the basic
loss per share for these years.

1. Dividend

The Company resolved not to declare a final dividend in respect
of the year (2003:Nil).