GUANGZHOU PHAR<0874> - Results Announcement

Guangzhou Pharmaceutical Company Limited announced on 24/3/2000:
(stock code: 874)
Year end date: 31/12/1999
Currency: RMB                                               (Audited)
                                           (Audited)        Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/1/1999    from 1/1/1998
                                           to 31/12/1999    to 31/12/1998
                                           ('000)           ('000)
Turnover
    - Continuing                         : 3,454,492        3,326,658
    - Discontinued                       : -                -
Operating Profit/(Loss)
    - Continuing                         : 177,979          161,314
    - Discontinued                       : -                -
Total Operating Profit/(Loss)            : 177,979          161,314
Share of Profit/(Loss) of
  Associated Companies                   : 824              694
Share of Profit/(Loss) of
  Jointly Controlled Entities            : (688)            (87)
Profit/(Loss) after Tax & MI             : 128,688          123,724
% Change over Last Period                : +4.0%
EPS/(LPS)-Basic                          : RMB0.18          RMB0.17
         -Diluted                        : N/A              N/A
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : 128,688          123,724
Final Dividend per H Share               : RMB0.030         RMB0.035
(Specify if with other options)          : -                -
B/C Dates for Final Dividend             : 26/4/2000 to 26/5/2000 bdi.
Payable Date                             : on or before 9/6/2000
B/C Dates for Annual General Meeting     : 26/4/2000 to 26/5/2000 bdi.
Other Distribution for Current Period    : N/A
B/C Dates for Other Distribution         : N/A

Remarks :

(1) The Company was established in the People's Republic of China (the 
"PRC") on 1st September, 1997 as a joint stock company with limited 
liability as part of the reorganisation of a State-owned enterprise
known as Guangzhou Pharmaceutical Holdings Limited ("GZPHL").  Pursuant to 
the reorganisation on 1st September, 1997, the Company acquired the
principal business undertakings and certain assets and liabilities of 
GZPHL relating to the development, manufacture and sale of Chinese patent 
medicine as well as the trading and import and export of Western 
pharmaceutical products, Chinese patent medicine, Chinese raw medicine 
and medical apparatus by issuing 513,000,000 State-owned Shares of the 
Company with a par value of RMB1.00 each to GZPHL.

(2) The calculation of earnings per share is based on the Group's profit 
attributable to shareholders of RMB128.69 million (1998: 123.72 million) 
and the weighted average number of 732.90 million shares (1998: 732.90 
million shares) outstanding during the year ended 31st December, 1999
(31st December, 1998)

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