ING BEIJING<01062> - Results Announcement

ING Beijing Investment Company Limited announced on 17/09/2003:
(stock code: 01062 )
Year end date: 31/12/2003
Currency: HKD
Auditors' Report: N/A
Review of Interim Report by: Both Audit Committee and Auditors

                                                        (Unaudited )
                                     (Unaudited )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/01/2003    from 01/01/2002
                                     to 30/06/2003      to 30/06/2002 
                               Note  ($         )       ($         )
Turnover                           : 408,939            5,618,616         
Profit/(Loss) from Operations      : 12,571,120         (273,161)         
Finance cost                       : N/A                N/A               
Share of Profit/(Loss) of 
  Associates                       : (1,092,863)        N/A               
Share of Profit/(Loss) of
  Jointly Controlled Entities      : 1,136,020          1,412,970         
Profit/(Loss) after Tax & MI       : 12,558,916         1,094,135         
% Change over Last Period          : +1,047.84 %
EPS/(LPS)-Basic (in dollars)       : 0.02328            0.00203           
         -Diluted (in dollars)     : N/A                0.00202           
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : 12,558,916         1,094,135         
Interim Dividend                   : NIL                NIL               
  per Share                                                               
(Specify if with other             : N/A                N/A               
  options)                                                                
                                                                          
B/C Dates for 
  Interim 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)   Explanatory notes to the change of figures reported in the Results 
Announcement Form submitted previsously for the Last Corresponding Period  
    
                                                for the period ended
                                                           30-Jun-02
                                                                 HKD
                                                                        
Loss from operations reported in Last 
  Corresponding Period                                  (2,658,516.00)
                                                                        
Add:    Gain on disposal of non-trading 
        listed investments                               2,714,000.00 
                                                                        
Less:   Loss on disposal of convertible 
        loan and non-trading unlisted investments       (328,645.00)
                                                        ------------------ 
                     
Revised loss from operations for the Last 
 Corresponding Period                                   (273,161.00)
                                                        ==================
        


(2)   Basic EPS and diluted EPS for the period ended June 30, 2003      

Basic EPS       

        The calculation of basic earnings per share is based on profit 
attributable to shareholders of $12,558,916 and on 539,512,000 ordinary 
shares in issue during the period.

        =$12,558,916 / 539,512,000

        =2.328 cent
         ===========        


Diluted EPS                                                                
    
Diluted earnings per share is not shown for the period ended June 
30, 2003 as the potential ordinary shares are anti-dilutive.               
            
The calculation of diluted earnings per share for the period ended 
June 30, 2002 is based on the profit attributable to shareholders of 
$1,094,135 and on 542,238,399 ordinary shares after adjusting for the 
effects of all potential dilutive ordinary shares.                         
                                      
                                                As at June 30, 2002
                                                  No. of shares

Number of ordinary shares used in 
  calculating basic earnings per share                  539,512,000 

Deemed issue of ordinary shares for 
  no consideration                                      2,726,399 
                                                -----------------------    
                     
Number of ordinary shares used in 
  calculating diluted earnings per share                542,238,399 
                                                        ===========
                        
        =$1,094,135 / 542,238,399

        =0.202 cent
        ============