GUANGZHOU PHAR<0874> - Results Announcement

Guangzhou Pharmaceutical Company Limited announced on 20/8/1999:
(stock code: 874)
Year end date: 31/12/1999
Currency: RMB
                                                            Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/1/1999    from 1/1/1998
                                           to 30/6/1999     to 30/6/1998
                                           ('000)           ('000)
Turnover                                 : 1,890,770        1,823,443
Profit-Continuing Operations
    - Operating Profit                   : 92,392           102,335
    - Exceptional Items                  : -                -
    - Discontinued Operations            : -                -
Total Operating Profit                   : 92,392           102,335
Share of (Losses)/Profit of Jointly      : (252)            22
 Controlled Entities
Share of Profit/(Loss) of                : 356              267
  Associated Companies
Profit/(Loss) after Tax & MI             : 67,822           77,428
% Change over Last Period                : -12.4%
EPS/(LPS)-Basic                          : RMB0.09          RMB0.11
         -Diluted                        : N/A              N/A
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : 67,822           77,428
Interim Dividend per H Share             : RMB0.02          RMB0.025
                                           (HK$0.0188)      -
(Specify if with other options)          : -                -
B/C Dates for Interim Dividend           : 27/9/1999 to 5/10/1999 bdi.
Payable Date                             : 15/10/1999
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) The consolidated accounts of the Group incorporate the
accounts of the Company and all of its subsidiaries made
up to 30th June 1999.  All material intragroup transactions
and balances have been eliminated on consolidation.

(2) The calculation of earnings per share of the six months
ended 30th June 1999 is based on the profit attributable
to shareholders of approximately RMB67,822,000 and
the weighted average number of 732,900,000 shares
in issue during the period.

The calculation of eanings per share of the six months ended
30th June 1998 is based on the profit attributable to
shareholders of approximately RMB77,428,000 and the
weighted average number of 732,900,000 shares in issue
during the period.

Diluted earnings per share is not presented as the Company does
not have any dilutive potential shares.

(3) Dividend 

The exchange rate of RMB1.0658 for HK$1, being the average closing rates 
published by the People's Bank of China for the five working days before 
20th August, 1999, the interim dividend per "H" share will be HK$0.0188.

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