Interim Report 2003

	GUORUN HOLDINGS LIMITED (0175)

COVER CORPORATE INFORMATION CONDENSED CONSOLIDATED PROFIT AND LOSS ACCOUNT CONDENSED CONSOLIDATED BALANCE SHEET CONDENSED STATEMENT OF CHANGES IN EQUITY CONDENSED CONSOLIDATED CASH FLOW STATEMENT NOTES TO CONDENSED FINANCIAL STATEMENTS INTERIM DIVIDEND MANAGEMENT DISCUSSION AND ANALYSIS LIQUIDITY AND CAPITAL STRUCTURE EMPLOYEES' REMUNERATION POLICY DIRECTORS' INTERESTS IN SHARES SHARE OPTION SCHEME PURCHASE, SALE OR REDEMPTION OF THE COMPANY'S LISTED SECURITIES SUBSTANTIAL SHAREHOLDERS COMPLIANCE WITH THE CODE OF BEST PRACTICE AUDIT COMMITTEE