WINFOONG INT'L<00063> - Results Announcement

Winfoong International Limited announced on 28/03/2003:
(stock code: 00063 )
Year end date: 31/12/2002
Currency: HKD
Auditors' Report: Unqualified

                                                        (Audited   )
                                     (Audited   )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/01/2002    from 01/01/2001
                                     to 31/12/2002      to 31/12/2001 
                               Note  ('000      )       ('000      )
Turnover                           : 62,631             77,869            
Profit/(Loss) from Operations      : (11,257)           (15,876)          
Finance cost                       : (17,549)           (27,204)          
Share of Profit/(Loss) of 
  Associates                       : (84,521)           (3,420)           
Share of Profit/(Loss) of
  Jointly Controlled Entities      : N/A                N/A               
Profit/(Loss) after Tax & MI       : (115,978)          (46,066)          
% Change over Last Period          : N/A       %
EPS/(LPS)-Basic (in dollars)       : (0.0928)           (0.0673)          
         -Diluted (in dollars)     : N/A                N/A               
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : (115,978)          (46,066)          
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:


(1) Turnover and loss from operation                                                
                


                                         Turnover        Loss 
                                         HK$'000         HK$'000 

From continuing operations              62,631           (11,257)
From discontinued operations             -               - 
                                        ---------       -----------
                                        62,631           (11,257)
                                        =========       ===========
                                                                
(2) Loss per share                                                                  

The calculation of basic loss per share is based on the net loss 
attributable to shareholders for the year of HK$115,978,000 
(2001 : HK$46,066,000) and the weighted average of 
1,249,489,358 (2001 : 684,416,993) ordinary shares in issue 
during the year.                                                                

The fully diluted loss per share is not shown for both periods because 
the effect of any dilution is antidilutive.