VP GREENCHIP<01186> - Results Announcement

Value Partners China Greenchip Fund Limited announced on 22/03/2005:
(stock code: 01186 )
Year end date: 31/12/2004
Currency: HKD
Auditors' Report: Unqualified

                                                        (Audited   )
                                     (Audited   )       Last
                                     Current            Corresponding
                                     Period             Period
                                     from 01/01/2004    from 01/01/2003
                                     to 31/12/2004      to 31/12/2003
                               Note  ('000      )       ('000      )
Turnover                           : 14,714             17,195            
Profit/(Loss) from Operations      : 11,971             317,790           
Finance cost                       : 0                  0                 
Share of Profit/(Loss) of 
  Associates                       : 0                  0                 
Share of Profit/(Loss) of
  Jointly Controlled Entities      : 0                  0                 
Profit/(Loss) after Tax & MI       : 11,971             261,703           
% Change over Last Period          : -95       %
EPS/(LPS)-Basic (in dollars)       : 0.39               8.52              
         -Diluted (in dollars)     : N/A                N/A               
Extraordinary (ETD) Gain/(Loss)    : 0                  0                 
Profit/(Loss) after ETD Items      : 11,971             261,703           
Final Dividend                     : NIL                NIL
  per Share                                              
(Specify if with other             : N/A                N/A
  options)                                               
                                                         
B/C Dates for 
  Final 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   
  
Remarks:

1.      Basis of preparation of the financial statements

The financial statements are prepared in accordance with International 
Financial Reporting Standards.  They have been prepared under the 
historical cost convention as modified by the fair valuation of available
-for-sale securities and derivative financial instruments.

2.      The turnover and profit from operating activities of HK$14,713,705 
(2003: HK$17,195,059) and HK$11,970,615 (2003: HK$317,790,440) 
respectively, were all generated from continuing operations.

3.      The basic earnings per share of HK$0.39 (2003: HK$8.52) is 
calculated by dividing the net income for the year of HK$11,970,615 (2003: 
HK$261,702,520) by the weighted average number of ordinary shares in issue 
during the year, being 30,700,000 (2003: 30,700,000).