CHINA SHIP DEV<1138> - Results Announcement

China Shipping Developing Co. Ltd. announced on 17/8/1999:
(stock code: 1138)
Year end date: 31/12/1999
Currency: RMB
                                                            Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/1/1999    from 1/1/1998
                                           to 30/6/1999     to 30/6/1998
                                           ('000)           ('000)
Turnover                                 : 1,616,780        1,459,023
Profit-Continuing Operations
    - Operating Profit/(Loss)            : 91,903           (8,216)
    - Exceptional Items                  : 28,983           19,161
    - Discontinued Operations            : -                -
Total Operating Profit/(Loss)            : 120,886          10,945
Share of Profit/(Loss) of
  Associated Companies                   : (30,068)         (9,904)
Profit/(Loss) after Tax
  & MI                                   : 73,978           1,105
% Change over Last Period                : +6595%
EPS/(LPS)-Basic                          : RMB0.0249        RMB0.0004
         -Diluted                        : -                -
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : 73,978           1,105
Interim Dividend per H Share             : Nil              Nil
(Specify if with other options)          : -                -
B/C Dates for Interim Dividend           : -
Payable Date                             : -
B/C Dates for (-) General Meeting        : -
Other Distribution for Current Period    : -
B/C Dates for Other Distribution         : -

Remark:

The exceptional items for 1999 represents the gain of disposal of vessels.

For more details, please refer to the press announcement today.