G CHINA HOLD<00431> - Results Announcement

Greater China Holdings Limited announced on 20/04/2005:
(stock code: 00431 )
Year end date: 31/12/2004
Currency: HKD
Auditors' Report: Unqualified

                                                        (Audited   )
                                     (Audited   )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/01/2004    from 01/01/2003
                                     to 31/12/2004      to 31/12/2003
                               Note  ('000      )       ('000      )
Turnover                           : 15,207             25,287            
Profit/(Loss) from Operations      : 14,932             (107,663)         
Finance cost                       : (2,984)            (8,712)           
Share of Profit/(Loss) of 
  Associates                       : N/A                N/A               
Share of Profit/(Loss) of
  Jointly Controlled Entities      : N/A                N/A               
Profit/(Loss) after Tax & MI       : 12,262             (107,791)         
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : 0.06               (0.73)            
         -Diluted (in dollars)     : N/A                (0.73)            
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : 12,262             (107,791)         
Final Dividend                     : NIL                NIL
  per Share                                              
(Specify if with other             : N/A                N/A
  options)                                               
                                                         
B/C Dates for 
  Final Dividend                   : N/A   
Payable Date                       : N/A
B/C Dates for (-)            
  General Meeting                  : N/A   
Other Distribution for             : N/A
  Current Period                     
                                     
B/C Dates for Other 
  Distribution                     : N/A   
  
Remarks:

    EARNINGS (LOSS) PER SHARE

    The calculation of basic earnings (loss) per share for the year is 
    based on the net profit for the year of HK$12,262,000 (2003: net 
    loss of HK$107,791,000) and on the weighted average number of 
    221,341,000 (2003: 146,686,000) ordinary shares in issue during 
    the year.

    The diluted earnings per share for the year has not been presented 
    as there were no dilutive potential ordinary shares in existence 
    during the year.

    The computation of diluted loss per share for prior year did not 
    assume the exercise of the outstanding warrants since their 
    exercises would decrease the loss per share.