GUANGZHOU PHAR<00874> - Results Announcement (Summary)

Guangzhou Pharmaceutical Company Limited announced on 4/4/2002:
(stock code: 874)
Year end date: 31/12/2001
Currency: RMB
Auditors' Report: Neither
Review of Interim Report by: N/A
                                                            (Audited)
                                           (Audited)        Last
                                           Current          Corresponding
                                           Period           Period
                                           from 1/1/2001    from 1/1/2000
                                           to 31/12/2001    to 31/12/2000
                                           ('000)           ('000)
Turnover                                 : 5,334,029        4,222,857
Profit/(Loss) from Operations            : 245,110          247,877
Finance cost                             : (29,726)         (39,207)
Share of Profit/(Loss) of Associates     : 509              (3,257)
Share of Profit/(Loss) of
  Jointly Controlled Entities            : (9,906)          (841)
Profit/(Loss) after Tax & MI             : 95,868           135,250
% Change over Last Period                : -29%
EPS/(LPS)-Basic                          : RMB0.119         RMB0.185
         -Diluted                        : N/A              N/A
Extraordinary (ETD) Gain/(Loss)          : -                -
Profit/(Loss) after ETD Items            : 95,868           135,250
Final Dividend per H Share               : RMB0.06          RMB0.03
(Specify if with other options)          : -                -
B/C Dates for Final Dividend             : 8/5/2002 to 7/6/2002 bdi.
Payable Date                             : 21/6/2002
B/C Dates for Annual General Meeting     : 8/5/2002 to 7/6/2002 bdi.
Other Distribution for Current Period    : N/A
B/C Dates for Other Distribution         : N/A              

Remark:

In 2001, there was an impairment charge on fixed assets and construction 
in progress amounted to Rmb50,119,000, arising from continuing operations. 

Impairment charge included:                             
                                Rmb'000

Fixed assets                     38,191 
Construction in progress         11,928 
                                --------
                                 50,119 
                                ========

Impairment charge mainly arose as a result of technology upgrade and 
modernisation of production facilities.