Sing Lee Software (Group) Limited — Earnings Release 2006

May 12, 2006

GEM

SING LEE<08076> - Results Announcement (Q1, 2006, Summary)

Sing Lee Software (Group) Limited announced on 12/05/2006:
(stock code: 08076 )

Year end date :31/12/2006
Currency :RMB
Auditors' report :N/A
1st 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 01/01/2006   from 01/01/2005
                                      to 31/3/2006     to 31/03/2005
                                          RMB$'000          RMB$'000

Turnover : 4,731 1,744
Profit/(Loss) from Operations : (1,628) (13,865)
Finance cost : (247) (81)
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 : (2,021) (13,961)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : (RMB0.0034) (RMB0.0232)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (2,021) (13,961)
1st Quarter Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 1st 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
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
   Three months ended
   31 March
   2006 2005
   RMB RMB
   ('000) ('000)
   Sale of software 4,386 814
   Sale of hardware 234 568
   Maintenance income 111 362
   _____ ______
   4,731 1,744
   ===== ======

2. Taxation
   Three months ended
   31 March
   2006 2005
   RMB RMB
   ('000) ('000)
   Business tax (Note a) 146 15
   ==== ====

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 2006 (three months ended 31 March 2005: Nil).

PRC enterprise income tax has not been provided as the Group had no
estimated assessable profits for the three months ended 31 March
2006 (three months ended 31 March 2005: 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 three
months ended 31 March 2006 based on the Group's unaudited loss
attributable to shareholder of approximately RMB2,021,000
(three months ended 31 March 2005: loss attributable to
shareholders of approximately RMB13,961,000) divided by the
weighted average number of ordinary shares outstanding for three
months ended 31 March 2006 of 603,000,000 shares (three months
ended 31 March 2005 : 603,000,000 shares) in issue respectively.

Diluted loss per share has not been presented as the exercise of
share options would have an anti-dilutive effect during the three
months ended 31 March 2006 and three months ended 31 March 2005.

1. Dividend

The Board does not recommend the payment of dividend for the three
months ended 31 March 2006 (three months ended 31 March
2005 : Nil).