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Listed Companies Information

YU MING INV<00666> - Results Announcement

Yu Ming Investments Limited announced on 28/08/2006:
(stock code: 00666 )
Year end date: 31/12/2006
Currency: HKD
Auditors' Report: N/A
Interim report reviewed by: Both Audit Committee and Auditors

                                                        (Unaudited )
                                     (Unaudited )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/01/2006    from 01/01/2005
                                     to 30/06/2006      to 30/06/2005
                               Note  ($         )       ($         )
Turnover                           : 53,978,550         9,248,818         
Profit/(Loss) from Operations      : 50,186,360         11,945,226        
Finance cost                       : (17,326,051)       (501,485)         
Share of Profit/(Loss) of 
  Associates                       : (1,688,011)        176,904,411       
Share of Profit/(Loss) of
  Jointly Controlled Entities      : 945,542            N/A               
Profit/(Loss) after Tax & MI       : 21,518,252         188,283,152       
% Change over Last Period          : -88.57    %
EPS/(LPS)-Basic (in dollars)       : 0.0127             0.1113            
         -Diluted (in dollars)     : N/A                N/A               
Extraordinary (ETD) Gain/(Loss)    : N/A                N/A               
Profit/(Loss) after ETD Items      : 21,518,252         188,283,152       
Interim Dividend                   : NIL                NIL
  per Share                                              
(Specify if with other             : N/A                N/A
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   


(1)     Comparative figures of turnover and share of results of associates 
have been reclassified to conform with the new HKFRS 's presentation.

(2)     The calculation of basic earnings per share is based on the profit 
attributable to equity holders of the Company of HK$21,518,252 (2005 : 
HK$188,283,152) and on 1,691,171,989 (2005 : 1,691,171,989) ordinary 
shares in issue.

No diluted earnings per share is presented as the Group had no dilutive 
potential ordinary shares.

(3)     Summary of auditors' independent review report
The auditors' independent review report on the Group's financial 
statements for the six months period ended 30th June, 2006 contained a 
modified opinion because of the limitation of the scope of their review.   
The following is an extract of the auditors' review report:

"The scope of our review was limited in respect of the acquisition cost of 
the equity interests in Grand China Air Company Limited ("Grand China Air
") recorded as available-for-sale financial asset at a carrying value of 
HK$190,190,000 as at 30 June 2006, which was considered by the directors 
as its fair value at date of initial recognition and its carrying value as 
at 30 June 2006.  As detailed in the interim financial report, the 
official registration procedures of the issuance of the shares of Grand 
China Air to the Group are still in progress as of the date of this 
report.  However, we are unable to obtain sufficient financial information 
nor any sufficient evidence relating to the acquisition cost of equity 
interests in Grand China Air to satisfy ourselves that this amount is 
properly classified as available-for-sale financial assets and properly 
recognised under the measurement and recognition principles in accordance 
with Hong Kong Accounting Standard No. 39 "Financial Instruments: 
Recognition and Measurement".  In addition, we are unable to obtain 
sufficient evidence in order to determine whether its carrying value is 
fairly stated as at 30 June 2006.
The scope of our review was also limited in respect of a preference share 
dividend income of HK$22,587,377 for the six months ended 30 June 2006 and 
a corresponding dividend receivable of HK$22,587,377 as at 30 June 2006 
recorded by the Group.  No sufficient evidence has been made available to 
us for the assessment of the timing and amount of distribution of the 
dividend.  As a result, we are unable to determine whether the dividend 
income for the six months ended 30 June 2006 and the dividend receivable 
as at 30 June 2006 are fairly stated.
Inability to reach a review conclusion
Because of the significance of the possible effect of the limitation in 
evidence available to us, we are unable to reach a review conclusion as to 
whether material modifications should be made to the interim financial 
report for the six months ended 30 June 2006."