ZJ PROSPECT<08273> - Results Announcement (Q1, 2005, Summary)

Zhejiang Prospect Company Limited announced on 12th May 2005:
(stock code: 08273 )

Year end date                         :31st December 2005
Currency                              :RMB
Auditors' report                      :N/A
1st Quarterly Report Reviewed by      :Audit Committee

Important Note :

This result announcement form only contains extracted information from
and should be read in conjunction with the detailed results announcement
of the issuer, which can be viewed on the GEM website at

                                          (Un-Audited)     (Un-Audited)
                                              Current Last Corresponding
                                               Period            Period
                                       from 01/01/2005   from 01/01/2004
                                         to 31/03/2005     to 31/03/2004
                                                 $'000             $'000

Turnover                              :         19,465            14,916
Profit/(Loss) from Operations         :          4,264             3,061
Finance cost                          :          (223)             (540)
Share of Profit/(Loss) of Associates  :            N/A               N/A
Share of Profit/(Loss) of Jointly
         Controlled Entites           :            N/A               N/A
Profit/(Loss) after Taxation & MI     :          2,807             1,689
% Change Over the Last Period         :         +66.19%
          Basic (in dollar)           :      RMB 0.037         RMB 0.026
          Diluted (in dollar)         :            N/A               N/A
Extraordinary (ETD) Gain/(Loss)       :            N/A               N/A
Profit (Loss) after ETD Items         :         2,807             1,689
1st Quarter Dividends per Share       :            NIL               NIL
(specify if with other options)       :            N/A               N/A
B/C Dates for 1st Quarter Dividends   :            N/A
Payable Date                          :            N/A
B/C Dates for (-) General Meeting     :            N/A
Other Distribution for Current Period :            NIL
B/C Dates for Other Distribution      :            N/A
                                       (bdi: both days inclusive)

For and on behalf of
Zhejiang Prospect Company Limited

Signature :
Name      : Kwok Pui Ching
Title     : Company Secretary

Responsibility statement

The directors of the Company (the "Directors") as at the date hereof
hereby collectively and individually accept full responsibility for the
accuracy of the information contained in this results announcement form
(the "Information") and confirm, having made all reasonable inquiries,
that to the best of their knowledge and belief the Information are
accurate and complete in all material respects and not misleading and
that there are no other matters the omission of which would make the
Information herein inaccurate or misleading.The Directors acknowledge
that the Stock Exchange has no responsibility whatsoever with regard to
the Information and undertake to indemnify the Exchange against all
liability incurred and all losses suffered by the Exchange in connection
with or relating to the Information.

1. Significant accounting policies
(a) Basis of preparation
This financial statements has been prepared in accordance with
accepted accounting principles in Hong Kong and comply with
Statements of Standard Accounting Practice ("SSAP") issued
by the Hong Kong Institute of Certified Public Accountants
("HKICPA"), the disclosure requirements of the Hong Kong
Companies Ordiance and the applicable disclosure provisons
of the Rules governing the Listing of Securities on The
Growth Enterprise Market ("GEM"). The financial statements
are prepared under the historical cost convention as modified
by the revaluation of certain property, plant and equipment.
The Company was established as a limited liability company
and became a joint stock limited company on 9th August, 2002.
The Company was principally engaged in the manufacturing and
sale of universal joints for automobiles. The financial
statements as set out has been prepared on continuing basis.
In the current period, the Company adopted the following Statements
of the Standard Accounting Practice ("SSAP") issued by the HKICPA
which are effective for accounting periods commencing or after
1st January, 2002.
SSAP 1 (Revised): Presentation of financial statements
SSAP 11 (Revised): Foreign currency translation
SSAP 15 (Revised): Cash flow statements
SSAP 33: Discontinuing operations
SSAP 34 (Revised): Employee benefits
2. Earning per share
The basic earnings per share for each of the two periods ended 31st
March 2005 and 31st March 2004 are calculated based on net profits
after tax for the period of RMB 2,807,000 (2004: RMB 1,689,000) and
on the 76,600,000 shares (2004: the weighted average number of
64,333,333 shares) in issue during the periods.
No diluted earnings per share have been presented as the Company
did not have any dilutive potential shares for the periods ended
31st March 2004 and 2005.