Sing Lee Software (Group) Limited — Earnings Release 2002

Nov 14, 2002

GEM

SING LEE<08076> - Results Announcement (Q3, 2002, Summary)

Sing Lee Software (Group) Limited announced on 14/11/2002:
(stock code: 08076)

Year end date :31/12/2002
Currency :RMB
Auditors' report :N/A
Review of 3rd Quarterly Report 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 01/01/2002   from 01/01/2001
                                     to 30/09/2002     to 30/09/2001
                                           RMB'000           RMB'000

Turnover : 43,095 38,600
Profit/(Loss) from Operations : (9,230) (2,130)
Finance cost : (454) (964)
Share of Profit/(Loss) of Associates : 0 0
Share of Profit/(Loss) of Jointly
Controlled Entites : 0 0
Profit/(Loss) after Taxation & MI : (9,684) (2,614)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (RMB 0.0161) (RMB 0.0056)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : 0 0
Profit (Loss) after ETD Items : (9,684) (2,614)
3rd Quarterly Dividends per Share : NIL Note 3
(specify if with other options) : N/A N/A
B/C Dates for 3rd Quarterly Dividends : N/A
Payable Date : N/A
B/C Dates for Annual General Meeting : N/A
Other Distribution for Current Period : NIL
B/C Dates for Other Distribution : N/A

                                          For and on behalf of
                                    Sing Lee Software (Group) Limited
                        Signature :
                             Name :          Hung Yung Lai
                            Title :        Executive Director

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 Company was incorporated in Bermuda as an exempted company
with limited liability on 27th October, 2000 under the Company Act
1981 of Bermuda. In preparation for the listing of the Company's
shares on GEM, a group reorganization was effected whereby the
Company became the holding company of the Group on 27th August,
2001. The shares of the Company (the "Shares") were listed on GEM
on 5th September, 2001 (the "Listing Date").

All significant intra-group transactions and balances have been
eliminated on consolidation.

The consolidated results have been prepared in accordance with
International Financial Reporting Standards ("IFRS") issued by
the International Accounting Standards Board, the disclosure
requirements of the Hong Kong Companies Ordinance and the
Rules Governing the Listing of Securities on GEM.

The principal accounting policies and methods of computation
adopted for the preparation of the third quarterly financial
statements are consistent with those adopted by the Group in its
audited annual financial statements for the year ended
31st December, 2001.

1. Earnings (Loss) per share

The calculation of the Group's basic earnings (loss) per share for
the three and nine months ended 30th September, 2002 is based on the
Group's unaudited consolidated profit (loss) attributable to
shareholders of approximately Rmb (1,403,000) and Rmb (9,684,000)
(2001: profit of approximately Rmb3,970,000 and loss of
approximately Rmb(2,614,000) respectively) and the weighted average
number of 603,000,000 shares (three and nine months ended 30th
September, 2001: 495,391,300 shares and 467,233,600 shares)in issue
respectively.

Diluted earnings (loss) per share has not been presented as the
exercise of share option would have an anti-dilutive effect during
the periods.

1. Dividend

The Board does not recommend the payment of an interim dividend
for the three and nine months ended 30th September 2002.

A dividend of Rmb1,500,000 was declared and paid to the then
owners / shareholders of subsidiaries of the Company during the
the nine months ended 30th September, 2001 before the listing
of the shares of the Company on GEM.