Sing Lee Software (Group) Limited — Earnings Release 2004

Mar 24, 2005

GEM

SING LEE<08076> - Results Announcement (Final, 2004, Summary)

Sing Lee Software (Group) Limited announced on 24/03/2005:
(stock code: 08076 )

Year end date :31/12/2004
Currency :RMB
Auditors' report :Unqualified

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

                                         (Audited)         (Audited)
                                          Current Last Corresponding
                                           Period            Period
                                   from 01/01/2004   from 01/01/2003
                                     to 31/12/2004     to 31/12/2003
                                           RMB'000           RMB'000

Turnover : 40,303 37,848
Profit/(Loss) from Operations : (2,124) (31,362)
Finance cost : (222) (305)
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 : (2,346) (31,667)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (RMB 0.0039) (RMB 0.0525)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (2,346) (31,667)
Final Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for Final 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
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 accompanying financial statements 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 the GEM. Except as otherwise stated, the
accompanying financial statements are prepared under the historical
cost convention.

Owing to the fact that the Group principally operates in the PRC and
its business activities are principally transacted in Renminbi ("RMB"),
the financial statements are prepared in RMB.

1. Turnover
   2004 2003
   RMB RMB
   ('000) ('000)
   Sale of software 9,619 18,396
   Sale of hardware 17,062 15,622
   Maintenance income 13,622 3,830
   ______ ______
   40,303 37,848
   ====== ======

2. Taxation
   2004 2003
   RMB RMB
   ('000) ('000)
   PRC enterprise income tax(c) - -
   _____ _____
   - -
   ===== =====

(a) Overseas income tax
The company is incorporate in Bermuda and is exempt from taxation in
Bermuda until 28 March 2016. The Company's subsidiary established in
BVI is incorporated under the International Business Companies Acts of
the BVI and, accordingly, is exempt from payment of BVI income taxes.

(b) Hong Kong profits tax
No Hong Kong profits tax was provided as the Group had no assessable
profit arising in or derived from Hong Kong.

(c) PRC enterprise income tax
As foreign investment enterprise that incorporated in the Advanced
Technology Industry Development Area in Hangzhou City and Zhuhai are
entitled to full exemption from income tax for two years with effect
from its first profitable year after offsetting prior year's losses
and a 50% reduction in income tax for the following three years.
Foreign investment enterprises are also exempted from income tax in
years with financial loss.

1. Dividend
   Subsequent to 31 December 2004, the directors of the company do not
   recommend the payment of a final dividend.