hmvod Limited — Earnings Release 2006

Feb 14, 2006

GEM

TAI SHING<08103> - Results Announcement (Q3, 2005/2006, Summary)

Tai Shing International (Holdings) Limited announced on 14/2/2006:
(stock code: 08103 )

Year end date :31/03/2006
Currency :HKD
Auditors' report :N/A
3rd 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 01/04/2005   from 01/04/2004
                                     to 31/12/2005     to 31/12/2004
                                             $'000             $'000

Turnover : 58,196 12,676
Profit/(Loss) from Operations : 2,867 454
Finance cost : (10) (140)
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 : 3,198 (685)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : HKD 4.26 (HKD 1.26)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : 3,198 (685)
3rd Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 3rd 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
Tai Shing International (Holdings) Limited

Signature :
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:

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  Nine months ended
                           31 December           31 December
                            2005      2004        2005     2004
                         HK$'000   HK$'000     HK$'000  HK$'000

Principal
activities

System
development 27,795 8,753 57,444 10,729
Sales of software and
hardware products 8 - 8 11
Professional
services fees 103 393 553 1,769
Training fees 72 92 191 167

                          27,978     9,238      58,196   12,676

1. Profit/(Loss) from operations

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

                      Three months ended     Nine months ended
                         31 December           31 December
                        2005      2004         2005      2004
                     HK$'000   HK$'000      HK$'000   HK$'000

Auditors'
remuneration 300 - 400 127
Depreciation 459 115 1,361 129
Finance costs
-bank interests (17) 137 10 140
Operating leases 520 122 1,727 212
Staff costs 6,142 1,825 13,116 5,089
Net exchange
(gain)/loss - - 30 -

1. Other gain-net
   Nine months ended
   December 31
   2005 2004
   HK$'000 HK$'000

Sales proceed on disposal of Hung Luen 3,746 -
Carrying value of Hung Luen (1,421) -
Direct cost relating to the disposal (881) -

Gain on disposal 1,444 -
Excess of The Group's interest in fair
value of the subsidiary's net assets
acquired over cost 2,165 -
Less: Impairment loss on Tung Hing (1,303) -
Exchange loss (24) -
2,282 -

1. Earnings/(Loss) per share

The calculation of basic earnings/(loss) per share for
the three months and nine months ended 31 December 2005
were based on the profit attributable to the
shareholders of approximately of HK$1,355,000
and HK$3,198,000 (2004: profit of HK$473,000 and
loss of HK$685,000) divided by the weighted average
number of 75,105,000 shares for the three months and
nine months ended (2004: 65,615,000 shares)
in issue during the period.

There were no potential dilutive ordinary shares
in issue during the three months and nine months
ended 31 December 2005. On 18 September 2004,
18,160,000 new ordinary shares of HK$0.05 each were
issued at HK$0.50 to an independent third party as
consideration for the acquisition of interest in a
subsidiary. These shares rank pair passu in all respect
with the existing ordinary shares of the Company.