Sing Lee Software (Group) Limited — Earnings Release 2003

May 13, 2003

GEM

SING LEE<08076> - Results Announcement (Q1, 2003, Summary)

Sing Lee Software (Group) Limited announced on 13/05/2003:
(stock code: 08076)

Year end date :31/12/2003
Currency :RMB
Auditors' report :N/A
Review of 1st 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 31/03/2003     to 31/03/2002
                                             $'000             $'000

Turnover : 6,244 8,371
Profit/(Loss) from Operations : (12,217) (5,806)
Finance cost : (212) (110)
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 : (12,432) (5,948)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (RMB 0.0206) (RMB 0.0099)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (12,432) (5,948)
1st Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st 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.

1. Taxation
   Three months ended
   31 March
   2003 2002
   RMB RMB
   ('000) ('000)
   PRC taxation (Note a) 3 -
   PRC enterprise income tax - 32
   _____ _____
   3 32
   ===== =====

Hong Kong profits tax has not been provided as the Group had no income
assessable for profits tax in Hong Kong for the three months ended 31
March 2003 (2002: Nil).

PRC enterprise income tax has not been provided as the Group had no
estimated assessable profits for the three months ended 31 March 2003
(2002: RMB32,000).

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

Notes:
(a) Tax paid in respect to interest income of PRC source.

1. Loss per share

The calculation of the Group's basic loss per share is based on the
Group's unaudited combined loss attributable to shareholder of
approximately RMB12,432,000 (2002: a loss of approximately RMB5,948,000)
divided by the weighted average number of ordinary shares outstanding
as at 31 March 2003 of 603,000,000 shares (2002: 603,000,000 shares).

No diluted loss per share was presented as the exercise of share options
would have an anti-dilutive effect during the reported periods.