GREAT CHINA<00141> - Results Announcement (Summary)

Great China Holdings Limited announced on 20/9/2002:
(stock code: 141)
Year end date: 31/12/2002
Currency: HK$
Auditors' Report: N/A
Review of Interim Report by: Both Audit Committee and Auditors

                                                            (Unaudited)
                                           (Unaudited)      Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/1/2002    from 1/1/2001
                                           to 30/6/2002     to 30/6/2001
                                           ('000)           ('000)
Turnover                                 : 359,088          475,693
Profit/(Loss) from Operations            : 22,484           (15,675)
Finance cost                             : (5,681)          (12,050)
Share of Profit/(Loss) of Associates     : 1,473            2,027
Share of Profit/(Loss) of
  Jointly Controlled Entities            : NIL              NIL
Profit/(Loss) after Tax & MI             : 18,163           (25,310)
% Change over Last Period                : N/A
EPS/(LPS)-Basic                          : 6.94 cents       (9.67 cents)
         -Diluted                        : N/A              N/A
Extraordinary (ETD) Gain/(Loss)          : NIL              NIL
Profit/(Loss) after ETD Items            : 18,163           (25,310)
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.  Adoption of Statements of Standard Accounting Practice

    These unaudited consolidated condensed accounts are prepared in       
    accordance with Statement of Statement of Standard Accounting Practice 
    ("SSAP") 25, "Interim Financial Reporting", issued by the Hong Kong   
    Society of Accountants ("HKSA") 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 methods of computation used in the        
    preparation of these condensed accounts are consistent with those used 
    in the annual accounts for the year ended 31st December,
    2001 except that the Group has adopted the following SSAPs issued by  
    the HKSA which are effective for accounting periods commencing on or  
    after 1st January, 2002:                                            
                
    SSAP 1 (revised)    :       Presentation of financial statements      
    SSAP 15 (revised)   :       Cash flow statements                      
    SSAP 25 (revised)   :       Interim financial reporting             
    SSAP 34             :       Employee benefits                      

2. An analysis of turnover and contributions to operating loss from 
continuing operations and discontinued operations                       

                                TURNOVER                  CONTRIBUTION  
                Six months ended 30th June   Six months ended 30th June 
                        2002        2001        2002            2001
                        HK$'000     HK$'000     HK$'000         HK$'000
Continuing operations                                           
General trading         347,298     461,982     (11,516)        (7,290)
Property investment     11,171      13,036      50,626          10,042 
Real estate agency 
services                619             675     (1,041)         (1,858)
                        ----------------------------------------------- 
                        359,088     475,693     38,069          894 
                        ===================
Unallocated corporate expenses (Note)           (15,585)        (16,569)
                                                ------------------------  
                                                22,484          (15,675)
                                                ========================

Note:                                                           

a.  Unallocated corporate expenses                                      
                                                Six months ended 30th June 
                                                 2002            2001 
                                                HK$'000         HK$'000
Impairment of land and buildings                -               (10,761)
Other operating income                          -               1,202 
Judgement debt                                  (8,791)         -
     Others                                     (1,544)         -
Unallocated administration expenses             (5,250)         (7,010)
                                                ----------------------- 
                                                (15,585)        (16,569)
                                                ======================== 

3.  Earnings/(loss) per share                                           

Earnings/(loss) per share is calculated based on the profit attributable 
to shareholders of the Group for the six months ended 30.6.2002 of 
HK$18,163,000 (30.6.2001 : loss of HK$25,310,000) and 261,684,910 shares 
(30.6.2001 : 261,684,910 shares) of the Company in issue during the 
period.                                                                   

No diluted earnings/(loss) per share has been presented for current and 
prior periods because the exercise of the options have no dilutive effect 
for those periods.