Sing Lee Software (Group) Limited — Interim / Quarterly Report 2003

Aug 14, 2003

GEM

SING LEE<08076> - Results Announcement (Q2, 2003, Summary)

Sing Lee Software (Group) Limited announced on 14/08/2003:
(stock code: 08076 )

Year end date :31/12/2003
Currency :RMB
Auditors' report :N/A
Review of 2nd 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 30/06/2003     to 30/06/2002
                                             $'000             $'000

Turnover : 14,224 22,707
Profit/(Loss) from Operations : (11,892) (7,952)
Finance cost : (331) (330)
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 : (12,226) (8,282)
% Change Over the Last Period : N/A
EPS / (LPS)
Basic (in dollar) : RMB (0.0203) RMB (0.0137)
Diluted (in dollar) : N/A N/A
Extraordinary (ETD) Gain/(Loss) : N/A N/A
Profit (Loss) after ETD Items : (12,226) (8,282)
2nd Quarterly Dividends per Share : NIL NIL
(specify if with other options) : N/A N/A
B/C Dates for 2nd 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
(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.

Remark:

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 interim 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

Turnover represents revenue from sale of computer software and hardware,
and maintenance income. Turnover comprises the following:

                                    Six months ended
                                        30 June
                                      2003     2002
                                      RMB       RMB
                                     ('000)    ('000)

Sales of software 4,743 8,988
Sales of hardware 7,416 11,952
Maintenance income 2,065 1,767
_____ _____
14,224 22,707
===== =====

1. Taxation

                                   Six months ended
                                       30 June
                                     2003     2002
                                     RMB       RMB
                                    ('000)    ('000)
   

   PRC taxation (Note a) 3 -
   PRC enterprise income tax - -
   _____ _____
   3 -
   ===== =====

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

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

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

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

1. Earnings / (Loss) per share

The calculation of the Group's basic loss per share for the six months
ended 30 June 2003 is based on the Group's unaudited combined loss
attributable to shareholders of approximately Rmb12,226,000 (six months
ended 30 June 2002: loss of approximately Rmb8,282,000) divided by the
weighted average number of ordinary shares outstanding for six months
ended 30 June 2003 of 603,000,000 shares in issue (six months ended
30 June 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 six months ended 30 June
2003 and 30 June 2002.

1. Dividend

The Board does not recommend the payment of an interim dividend for the
six months ended 30 June 2003 (six months ended 30 June 2002: Nil).