FUDANZHANGJIANG<08231> - Results Announcement (Q2, 2004, Summary) (Revised)

Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. announced on 11/08/2004:
(stock code: 08231 )

Year end date                         :31/12/2004
Currency                              :RMB
Auditors' report                      :N/A
2nd 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
http://www.hkgem.com

                                           (Unaudited)       (Unaudited)
                                              Current Last Corresponding
                                               Period            Period
                                       from 01/01/2004   from 01/01/2003
                                         to 30/06/2004     to 30/06/2003
                                               RMB'000           RMB'000

Turnover                              :          6,915             4,978
Profit/(Loss) from Operations         :        (8,615)           (6,976)
Finance cost                          :              0                 0
Share of Profit/(Loss) of Associates  :        (1,082)             (232)
Share of Profit/(Loss) of Jointly
         Controlled Entites           :            N/A               N/A
Profit/(Loss) after Taxation & MI     :        (8,139)           (6,831)
% Change Over the Last Period         :            N/A
EPS / (LPS)
          Basic (in dollar)           :   (RMB 0.0115)      (RMB 0.0096)
          Diluted (in dollar)         :            N/A               N/A
Extraordinary (ETD) Gain/(Loss)       :             0                 0
Profit (Loss) after ETD Items         :        (8,139)           (6,831)
2nd Quarter Dividends per Share       :            NIL               NIL
(specify if with other options)       :            N/A               N/A
B/C Dates for 2nd 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
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd.

Signature :
Name      : Wang Rui
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.

Remarks:
	
1. General
	
Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co., Ltd. was
established in the PRC on 11 November 1996 as a limited liability
company with an initial registered capital of RMB5,295,000.
	
Pursuant to a series of capital injections on 10 November 1997,
11 May 2000, and 12 September 2000 from the existing or the then
existing shareholders of the Company and the capitalisation of
reserves of the Company on 11 December 1997 and 20 October 2000,
the registered capital of the Company was increased from
RMB5,295,000 to RMB53,000,000.
	
On 8 November 2000, the Company was transformed into a joint stock
company with limited liability.
	
On 20 January 2002, all of the shares of the Company, being
53,000,000 ordinary shares with a par value of RMB1.00 each, were
subdivded into 530,000,000 ordinary shares with a par value of
RMB0.10 each.
	
On 13 August 2002, the Company commenced the trading of the newly
issued 198,000,000 ordinary shares of Rmb0.1 each on the GEM of the
Stock Exchange, including 18,000,000 H Shares converted from
Domestic Shares. Therefore, the registered capital of the Company
was increased to Rmb 71,000,000.
	
As at the date of this report, the Company has direct interests of
68.75% and 65% in two subsidiaries, namely Shanghai Morgan-Tan
International Center for Life Sciences, Co., Ltd. and Shanghai Ba
Dian Medicine Co., Ltd., respectively.
	
2. Financial review
	
The Group is principally engaged in research, development and selling
of in-house generated bio-pharmaceutical know-how,manufacturing and
selling of medical diagnostic products and the provision of related
ancillary services.
	
For the period ended 30 June 2004, the Group realized a turnover of
approximately RMB6,915,000, compared to RMB4,978,000 for the
corresponding period in 2003.
	
Of the total turnover of the Group for the first half year of 2004,
RMB2,700,000 (or 39% of total turnover) came from the income of
technology transfer, and the rest of approximately RMB4,215,000
(or 61% of total turnover) was derived from the sale of diagnostic
products and the provision of relevant auxiliary services. In contrast,
the entire turnover for the same period last year was derived from
the sale of diagnostic reagents.
	
As compared with the same period in 2003, the Group's turnover for
the first half of 2004 increased by 39%. This is mainly because that
the Group has undertaken handovers of several technology transfer
projects, and has obtained part of the income during the period.
	
The sales of diagnostic products dropped by 15% in comparison with
the same period in 2003. This is mainly because that the Group has
transformed its sales and marketing strategies, from pure pursuing
short-term sales revenues towards emphasizing on selecting better
credit-rating custmers, and exploiting new market development for
new products.
	
The total costs and expenses of the Group for the period ended 30
June 2004 were approximately RMB18,762,000 compared with
RMB15,031,000 for the same period last year. The increase was
mainly due to the Group's increased investment in capital and
resources in R&D and commercialization.
	
The Group recorded a loss attributable to shareholders of approximately
RMB8,139,000 for the period ended 30 June 2004, compared
with a loss attributable to shareholders of approximately RMB6,831,000
for the same period in 2003.
	
3. Taxation
	
The Company is subject to the Income Tax of the PRC and the normal
income tax rate applicable is 33%.  As the Company is recognised
as a New and High Technology Enterprise, it is entitled to a reduced
Income Tax rate of 15%.  Accordingly, the Company is subject to Income
Tax at a rate of 15%.
	
The subsidiaries are subject to the Income Tax Law of the PRC and
the income tax rate applicable is 33%.
	
4. Loss per share
	
The calculation of the loss per share for six months ended 30 June
2004 was based on the loss of approximately RMB8,139,000
(for the six months ended 30 June 2003: loss of approximately
RMB6,831,000) and total shares issued 710,000,000 as at 30 June
2004 (2003: 710,000,000 shares)
	
Diluted loss per share has not been calculated for the
the three months ended 30 June 2004 and 30 June 2003 respectively
as there were no dilutive potential ordinary shares during the
periods then ended.