GREAT CHINA<00141> - Results Announcement (Summary)

Great China Holdings Limited announced on 18/9/2001:
(stock code: 141)
Year end date: 31/12/2001
Currency: HKD                                               (Unaudited)
                                           (Unaudited)      Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/1/2001    from 1/1/2000
                                           to 30/6/2001     to 30/6/2000
                                           ('000)           ('000)
Turnover                                 : 475,693          588,881
Profit/(Loss) from Operations            : (15,675)         4,916
Finance cost                             : (12,050)         (15,334)
Share of Profit/(Loss) of Associates     : 2,027            2,334
Share of Profit/(Loss) of
  Jointly Controlled Entities            : NIL              NIL
Profit/(Loss) after Tax & MI             : (25,310)         (9,242)
% Change over Last Period                : N/A
EPS/(LPS)-Basic                          : (9.67 cents)     (3.53 cents)
         -Diluted                        : N/A              N/A
Extraordinary (ETD) Gain/(Loss)          : NIL              NIL
Profit/(Loss) after ETD Items            : (25,310)         (9,242)
Interim Dividend per Share               : NIL              NIL
(Specify if with other options)          : N/A              N/A
B/C Dates for Interim 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.  Principal accounting policies

These unaudited consolidated condensed interim accounts are prepared in 
accordance with Hong Kong Statement of Standard Accounting Practice 
("SSAP") 25, "Interim financial reporting", issued by the Hong Kong 
Society of Accountants and Appendix 16 of the Rules Governing the Listing
of Securities on the Stock Exchange of Hong Kong Limited (the "Listing 
Rules").

The accounting policies and method of computation used in the preparation 
of these condensed interim accounts are consistent with those used in the 
annual accounts for the year ended 31st December, 2000 except that the 
Group has adopted SSAP 26 "Segment reporting" and SSAP 30 "Business 
combinations" which are effective for accounting periods commencing on or 
after 1st January, 2001.                                                
                
2.  An analysis of turnover and operating loss from continuing operations 
and discontinued operations                                             
                                                                
                        TURNOVER               OPERATING (LOSS)/PROFIT  
                Six months ended 30th June    Six months ended 30th June  
                2001            2000            2001            2000
                HK$'000         HK$'000         HK$'000         HK$'000

Continuing operations                                                   

General trading                                 
                461,982         555,189         (7,290)         15,674 
Property investment                                     
                13,036          11,086          10,042          8,862 
Real estate agency services                                     
                675             1,131           (1,858)         (3,747)
Other operations (Note a)                                       
                -               -               (9,559)         4,599
                --------------------------------------------------------
                475,693         567,406         (8,665)         25,388 

Discontinuing operations                                                

Ship chartering                                         
                -               21,475          -               (12,944)
                --------------------------------------------------------
                475,693         588,881         (8,665)         12,444 
                =======================
Less : Unallocated administration expenses      (7,010)         (7,528)
                                                ------------------------
                                                (15,675)        4,916 
                                                ========================

Notes :                                                         

a.  Operating (loss)/profit from other operations                       

                                                Six months ended 30th June 
                                                 2001            2000
                                                HK$'000         HK$'000
Gain/(loss) on disposal of fixed assets         50              -
Gain on disposal of investment securities       -               3,014   
Other operating income                          1,151           1,585 
Gain on disposal of subsidiaries                1               -
Write down of land and buildings to recoverable 
   amount                                       (10,761)        -
                                                ------------------------- 
                                                (9,559)         4,599 
                                                ========================= 
     
3.  Loss per share                                                      
        
Loss per share is calculated based on the loss attributable to 
shareholders of the Group for the six months ended 30.6.2001 of 
HK$25,310,000 (six months ended 30.6.2000 : HK$9,242,000) and 261,684,910 
shares (30.6.2000 : 261,684,910 shares) of the Company in issue during the 
year.                                                           

No diluted loss per share has been presented for current period and prior 
period because the exercise of the outstanding potential ordinary shares 
would have anti-dilutive effect for the period.

4.  Comparatives

Comparative figures of turnover, cost of sales and other net operating 
(expenses)/income have been reclassified to conform with current period's 
presentation.