hmvod Limited — Earnings Release 2005

Nov 8, 2004

GEM

TAI SHING<08103> - Results Announcement

Tai Shing International (Holdings) Limited announced on 08/11/2004:
(stock code: 08103 )
Year end date: 31/03/2005
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Audit Committee

Important Note:

This result announcement form only contain extracted information
from and should be read in conjunction with the detailed results
announcement of the issuer, which can be view on the GEM website
at http://www.hkgem.com

                                                    (Unaudited )
                                 (Unaudited )       Last
                                 Current            Corresponding
                                 Period             Period
                                 from 01/04/2004    from 01/04/2003
                                 to 30/09/2004      to 30/09/2003 
                           Note  ('000      )       ('000      )

Turnover 1 : 3,438 15,952
Profit/(Loss) from Operations 2 : (1,160) (848)
Finance cost : (3) (14)
Share of Profit/(Loss) of
Associates : N/A N/A
Share of Profit/(Loss) of
Jointly Controlled Entities : N/A N/A
Profit/(Loss) after Tax & MI : (1,158) (770)
% Change over Last Period : N/A %
EPS/(LPS)-Basic (in dollars) 3 : (0.0239) (0.00018)
-Diluted (in dollars) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit/(Loss) after ETD Items : (1,158) (770)
2nd Quarter Dividend : N/A N/A
per Share
(Specify if with other : N/A N/A
options)

B/C Dates for
2nd Quarter Dividend : N/A
Payable Date : N/A
B/C Dates for (-)
General Meeting : N/A
Other Distribution for : N/A
Current Period

B/C Dates for Other
Distribution : N/A

For and on behalf of 
Tai Shing International (Holdings) Limited

Name : Luk Yat Hung
Title : Chairman

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:

Notes:

1. Turnover

The principal activities of the Group are the provision of systems
development, sales of software and hardware products, provision of
professional services and provision of training services. Turnover
represents income arising from the provision of systems development and
consultancy services, provision of IT engineering and technical support
services, provision of training courses and the sales of software and
hardware products.

An analysis of the turnover by principal activities of the operations of
the Group during the reporting periods is as follows:

                              Three months ended     Six months ended  
                                 30 September          30 September  
                                  2004      2003       2004       2003  
                               HK$'000   HK$'000    HK$'000    HK$'000

Principal activities

Systems development 1,074 1,411 1,976 8,637
Sales of software and
hardware products - 215 11 2,732
Professional services fees 558 2,024 1,376 3,835
Training fees 34 402 75 748

                                1,666      4,052      3,438     15,952

1. Loss from operations

Loss from operations is stated after charging / (crediting):

                              Three months ended     Six months ended  
                                 30 September          30 September  
                                  2004      2003       2004       2003  
                               HK$'000   HK$'000    HK$'000    HK$'000

Auditors' remuneration 127 67 127 145
Depreciation 7 299 14 756
Finance costs - bank interests 1 3 3 14
Operating leases 48 483 90 1,190
Staff costs 1,503 3,424 3,264 11,268
Net exchange (gain) / loss - (5) - (350)

1. Loss per share

The calculation of basic loss per share for the three months and six
months ended 30 September 2004 were based on the loss attributable to
the shareholders of approximately of HK$893,000 and HK$1,158,000 (2003:
loss of HK$572,000 and HK$770,000) divided by the weighted average
number of 49,428,913 shares and 48,452,802 shares for the three months
and six months ended respectively (2003: 41,455,000 shares as restated)
in issue during the period.

There were no potential dilutive ordinary shares in issue during the
three months and six months ended 30 September 2004 and 2003.