SHUN CHEONG<00650> - Results Announcement (Summary)

Shun Cheong Holdings Limited announced on 24/8/2001:
(stock code: 650)

The auditors' report on the financial statements which contain the 
following result is qualified by the Company's auditors.  For more 
details, please refer to the press announcement issued by the Company on 
27/8/2001.

Year end date: 31/3/2001
Currency: HKD                                               (Audited)
                                           (Audited)        Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/4/2000    from 1/4/1999
                                           to 31/3/2001     to 31/3/2000

Turnover                                 : 828,534,000      699,967,000
Profit/(Loss) from Operations            : 32,422,000       41,114,000
Finance cost                             : (4,645,000)      (3,562,000)
Share of Profit/(Loss) of Associates     : (19,000)         (158,000)
Share of Profit/(Loss) of
  Jointly Controlled Entities            : -                -
Profit/(Loss) after Tax & MI             : (35,419,000)     32,028,000
% Change over Last Period                : N/A
EPS/(LPS)-Basic                          : (9.14 cents)     9.63 cents
         -Diluted                        : (9.14 cents)     9.54 cents
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : (35,419,000)     32,028,000
Final Dividend per Share                 : NIL              1.75 cents
(Specify if with other options)          : NIL              -
B/C Dates for Final Dividend             : N/A
Payable Date                             : N/A
B/C Dates for (-) General Meeting        : N/A
Other Distribution for Current Period    : N/A
B/C Dates for Other Distribution         : N/A

Remarks:

(1) (Loss) Profit after Taxation and Minority Interest

(Loss) Profit after taxation and minority interest was determined after 
charging the following item:
                                                  Year ended 31 March
                                                2001            2000
                                                HK$'000         HK$'000
Provision for impairment in value of other
 investment                                     13,202          -
Provision for impairment in value of 
 investment securities                          38,298          -
Provision for impairment in value of stock      2,922           -
Provision for impairment in value of fixed
 assets                                         7,972           -
                                                ------------------------
                                                62,394          -
                                                ========================

(2) (Loss) Earnings per Share
                                                  Year ended 31 March
                                                2001            2000
                                                HK$'000         HK$'000
(Loss) Earnings for the purpose of computing
 basic and diluted (loss) earnings per share    (35,419)        32,028
                                                ========================
Number of shares
Weighted average number of ordinary shares
 for the purposes of computing basic (loss)
 earnings per share                             387,357,016    332,445,350
Effect of dilutive potentional ordinary share:
 Share option                                   85,264          3,384,281
                                                --------------------------
Weighted average number of ordinary shares
 for the purposes of computing diluted
 (loss) earnings per share                      387,442,280    335,829,631
                                                ==========================

(3) Comparison with Unaudited Final Results

Save in respect of the Qualified Audit Opinion, there is no material 
difference between these results and the unaudited final results of the 
Group for the year ended 31 March 2001 disclosed by the Company in the 
announcement dated 9 August, 2001.

(4) Comparative Figures

Certain of the 2000 comparative figures have been reclassified to conform 
to the current year's presentation.

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