Quarterly Results announcement form
     
Name of listed company                 : FlexSystem Holdings Limited
     
Stock code                             : 8050
     
Year end date                          : 31/03/2002
     
    
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
     
Currency: HK$'000
                                           (Unaudited)      (Unaudited)
                                                                   Last
Quarterly Results Announcement                 Current    Corresponding
                                                Period           Period
                                       from 01/04/2001  from 01/04/2000
                                         to 31/12/2001    to 31/12/2000
                                               HK$'000          HK$'000
     
Turnover                               :        44,483           45,760
Profit/(Loss) from Operations          :         2,189           16,330
Finance cost                           :            -6               -7
Share of Profit/(Loss) of Associates   :             0                0
Share of Profit/(Loss) of
     Jointly Controlled Entites        :          -565                0
Profit/(Loss) after Taxation & MI                2,028           14,323
% Change Over the Last Period          :     -85.84  %
EPS / (LPS) - Basic                    :    0.34 cents       2.51 cents
            - Diluted                  :           N/A              N/A
Extraordinary (ETD) Gain/(Loss)        :             0                0
Profit (Loss) after ETD Items          :         2,028           14,323
3rd Q Dividend per Share               :             0                0
(specify if with other options)        :           N/A              N/A
B/C Dates for  3rd Q Dividend          :        N/A to         N/A bdi.
Payable Date                           :           N/A
B/C Dates for AGM/SGM                  :        N/A to         N/A bdi.
Other Distribution for Current Period  :           N/A
B/C Dates for Other Distribution       :        N/A to         N/A bdi.
                                             (bdi: both days inclusive)
     
                                        For and on behalf of
                                        FlexSystem Holdings Limited
                             Signature :
                                  Name :    Gary Leung
                                 Title :Executive Director and C.F.O
     
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.
     
Remark:
(1) Basis of presentation
FlexSystem Holdings Limited (the "Company") was Incorporated in the
Cayman Islands as an exempted company with limited liability on
8th May, 2000 under the Companies Law (2000 Revision) of the Cayman
Islands. In preparation for the listing of the Company's shares on
GEM, a group reorganization was effected whereby the Company became
the holding company of the Group on 10th July, 2000. The shares of
the Company (the "Shares") wew listed on GEM on 24th July, 2000
(the "Listing Date").
     
The results of the Company and its subsidiaries (the "Group") have
been prepared on a merger basis as if the current group structure
had been in existence throughout the periods under review or since
the respective dates of incorporation or establishment of the
respective subsidiaries now comprising the Group, whichever is a
shorter period.
     
All significant intra-group transactions and balances have been
eliminated on combination.
     
(2) Earnings per share
The calculation of the Group's basic earnings per share for the
nine months ended 31st December, 2001 is based on the Group's
unaudited consolidated profit attributable to shareholders of
approximately HK$2,028,000 and 600,000,000 shares in issue during
the period.
     
The calculation of the Group's basic earnings per share for the
nine months ended 31st December, 2000 is based on the Group's
unaudited consolidated profit attributable to shareholders of
approximately HK$14,323,000 and the weighted average number of
approximately 570,000,000 shares in issue.
     
There were no dilutive potential shares in issue during the periods
ended 31st December, 2000 and 2001.