CHYY Development Group Limited — Interim / Quarterly Report 2003

Feb 13, 2004

GEM

IIN INT'L<08128> - Results Announcement (Q1, 2003/2004, Summary)

IIN International Limited announced on 13/02/2004:
(stock code: 08128)

Year end date :30/09/2004
Currency :HKD
Auditors' report :N/A
1st 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 31/12/2003     to 31/12/2002
                                             $'000             $'000

Turnover : 43,679 43,764
Profit/(Loss) from Operations : (1,018) (4,619)
Finance cost : (596) (856)
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 : (1,660) (5,507)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (HKD 0.0012) (HKD 0.0039)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (1,660) (5,507)
1st Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st 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

                                       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.

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 three months
                                            ended 31 December
                                              2003        2002
                                           HK$��000     HK$��000
                                       (Unaudited) (Unaudited)

Network infrastructure solutions 20,226 34,134
Network management solutions 2,647 1,653
Other network solutions for
sectors other than telecommunications 8,126 7,977
Transmission 12,680 �V
------- -------
43,679 43,764
======= =======

1. Loss from operating activities

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

                                           For the three months
                                             ended 31 December
                                              2003        2002
                                           HK$��000     HK$��000
                                       (Unaudited) (Unaudited)

Staff costs (including directors��
emoluments) 2,983 4,550
Depreciation 889 1,004
Amortisation of deferred development costs 344 344
Amortisation of goodwill 859 195
Minimum lease payments under
operating leases in respect
of land and buildings 257 1,002

1. Loss per share

The calculation of basic loss per share is based on the unaudited
net loss from ordinary activities attributable to shareholders for
the three months ended 31 December 2003 of HK$1,660,000 (three
months ended 31 December 2002: HK$5,507,000) and the weighted
average of 1,436,517,350 shares (three months ended
31 December 2002: 1,417,781,698 shares) in issue during the
three months ended 31 December 2003.

The diluted loss per share for the three months ended 31 December
2003 and 2002 are not presented as the potential ordinary shares
outstanding had an anti-dilutive effect on the basic loss per
share for the three months ended 31 December 2003 and 2002.

1. Dividend
   The Board does not recommend payment of any dividend for
   the three months ended 31 December 2003 (2002: Nil)