Sing Lee Software (Group) Limited — Earnings Release 2003

Nov 13, 2003

GEM

SING LEE<08076> - Results Announcement (Q3, 2003, Summary)

Sing Lee Software (Group) Limited announced on 13/11/2003:
(stock code: 08076)

Year end date :31/12/2003
Currency :RMB
Auditors' report :N/A
Review of 3rd Quarterly Report by :Audit Committee & Auditors

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 01/01/2003   from 01/01/2002
                                     to 30/09/2003     to 30/09/2002
                                             $'000             $'000

Turnover : 18,942 43,095
Profit/(Loss) from Operations : (20,855) (9,684)
Finance cost : (370) (454)
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 : (20,855) (9,684)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (RMB 0.0346) (RMB 0.0161)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (20,855) (9,684)
3rd Quarterly Dividends per Share : NIL NIL
(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 (-) 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 :         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 results have been prepared in accordance with International
Financial Reporting Standards issued by the International Accounting
Standards Board, the disclosure requirements of the Hong Kong Companies
Ordinance and the Rules Governing the Listing Securities on GEM.

The Group principally operates in the Peoples's Republic of China
(the "PRC") and its business activities are principally transacted
in Renminbi ("RMB"), the results are prepared in RMB.

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

The principal accounting policies and methods of computation adopted
for the preparation of the financial statements are same and
consistent with those adopted by the Group in its audited annual
financial statements for the year ended 31 December 2002.

1. Turnover
   Nine months ended
   30 September
   2003 2002
   RMB RMB
   ('000) ('000)
   Sales of software 7,782 17,254
   Sales of hardware 8,392 22,819
   Maintenance income 2,768 3,022
   _____ _____
   18,942 43,095
   ===== =====

2. Taxation

                                   Nine months ended
                                     30 September
                                    2003      2002
                                     RMB       RMB
                                    ('000)    ('000)
   

   Other PRC taxation (Note a) 59 -
   Business tax 350 -
   _____ _____
   409 -
   ===== =====

Hong Kong profits tax has not been provided as the Group had no income
assessable for profits tax in Hong Kong for the nine months ended 30
September 2003 (Nine months ended 30 September 2002: Nil).

PRC enterprise income tax has not been provided as the Group had no
estimated assessable profits for the nine months ended 30 September 2003
(Nine months ended 30 September 2002: Nil).

There was no significant unprovided deferred taxation for the reported
periods.

Notes:

(a) Tax paid in respect to business operation and interest income
of PRC source.

1. Loss per share

The calculation of the Group's basic loss per share for the nine months
ended 30 September 2003 is based on the Group's unaudited combined loss
attributable to shareholders of approximately Rmb20,855,000 (nine
months ended 30 September 2002: loss of approximately Rmb9,684,000)
divided by the weighted average number of ordinary shares outstanding
for nine months ended 30 September 2003 of 603,000,000 shares in issue
(nine months ended 30 September 2002: 603,000,000 shares).

No diluted loss per share was presented as the exercise of share options
would have an anti-dilutive effect for the nine months ended 30
September 2003 and 30 September 2002.

1. Dividend

The Board does not recommend the payment of dividend for the
nine months ended 30 September 2003 (nine months ended 30 September
2002: Nil).