CHYY Development Group Limited — Interim / Quarterly Report 2004

May 13, 2004

GEM

IIN INT'L<08128> - Results Announcement (Q2, 2003/2004, Summary)

IIN International Limited announced on 12/05/2004:
(stock code: 08128 )

Year end date :30/09/2004
Currency :HKD
Auditors' report :N/A
2nd Quarterly Report Reviewed 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 1/10/2003    from 1/10/2002
                                     to 31/03/2004     to 31/03/2003
                                             $'000             $'000

Turnover : 63,619 80,242
Profit/(Loss) from Operations : (7,485) (8,043)
Finance cost : (1,060) (1,851)
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 : (7,984) (9,882)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0056) (HKD 0.0069)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (7,984) (9,882)
2nd Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 2nd Quarter 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
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.

1. Basis of Preparation

The unaudited results have been prepared in accordance with the
Hong Kong Statement of Standard Accounting Practice No. 25
"Interim Financial Reporting" issued by Hong Kong Society of
Accountants.

The unaudited results have been reviewed by the audit committee
of the Company.

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 six months
                                            ended 31 March
                                              2004        2003
                                           HK$��000     HK$��000
                                       (Unaudited) (Unaudited)

Network infrastructure solutions 28,636 35,636
Network management solutions 2,647 22,303
Other network solutions for
sectors other than telecommunications 12,027 12,839
Transmission 20,309 9,464
------- -------
63,619 80,242
======= =======

1. Loss from operating activities

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

                                           For the six months
                                             ended 31 March
                                              2004        2003
                                           HK$��000     HK$��000
                                       (Unaudited) (Unaudited)

Staff costs (including directors��
emoluments) 6,031 7,798
Depreciation 2,400 2,193
Amortisation of deferred development costs 614 688
Amortisation of goodwill 1,720 984
Minimum lease payments under
operating leases in respect
of land and buildings 537 2,075

1. Loss per share

The calculation of basic loss per share for the three months and
six months ended 31 March 2004 is based on the respective unaudited
consolidated net loss from ordinary activities attributable to
shareholders of approximately HK$6,324,000 and HK$7,984,000
(three months ended 31 March 2003: approximately HK$4,375,000 and
six months ended 31 March 2003: approximately HK&9,882,000) and
the weighted average number of 1,436,517,350 shares and
1,436,517,350 shares respectively (2003: 1,436,517,350 and
1,426,672,735 respectively) in issue during the period.

The diluted loss per share for the three months and six months
ended 31 March 2003 and 2004 are not presented as the potential
ordinary shares outstanding had an anti-dilutive effect
on the basic loss per share for the three months and six months
ended 31 March 2003 and 2004.

1. Dividend
   The Directors do not recommend payment of an interim dividend
   for the period (2003: Nil)