The following is a summary of the audited consolidated financial statements of Van Shung Chong Holdings Limited (the "Company" or "VSC") and its subsidiaries (together the "VSC Group") for the respective years as hereunder stated.

The Hong Kong Institute of Certified Public Accountants has issued a number of revised Hong Kong Financial Reporting Standards ("HKFRS") that are effective or available for early adoption for accounting periods beginning on or after 1st January 2006. Information on the changes in accounting policies resulting from initial application of these revised HKFRSs is provided in note 2 to the consolidated financial statements.

Certain prior years' figures have been reclassified to conform with the current year's presentation.