FLEXSYSTEM<08050> - Results Announcement (Q2, 2002/2003, Summary)


FlexSystem Holdings Limited announced on 12/11/2002:
(stock code:  08050)

Year end date                         :31/03/2003
Currency                              :HKD
Auditors' report                      :N/A
Review of 2nd Quarterly Report 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 01/04/2002   from 01/04/2001
                                         to 30/09/2002     to 30/09/2001
                                                 $'000             $'000

Turnover                              :        27,688            28,963
Profit/(Loss) from Operations         :        (1,522)            4,599
Finance cost                          :             0                (4)
Share of Profit/(Loss) of Associates  :          (407)                0
Share of Profit/(Loss) of Jointly
         Controlled Entites           :            88              (154)
Profit/(Loss) after Taxation & MI     :        (2,022)            4,033
% Change Over the Last Period         :            N/A
EPS / (LPS)
          Basic (in dollar)           :   (HKD 0.0034)        HKD 0.0067
          Diluted (in dollar)         :            N/A               N/A
Extraordinary (ETD) Gain/(Loss)       :            N/A               N/A
Profit (Loss) after ETD Items         :        (2,022)            4,033
2nd Quarterly Dividends per Share     :      0.5 cents        1.00 cents
(specify if with other options)       :            N/A               N/A
B/C Dates for 2nd Quarterly Dividends :28/11/2002   to 03/12/2002   bdi.
Payable Date                          :     04/12/2002
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
                                       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 compnay 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") were 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) (Loss)/Earnings per share
The calculation of the Group's basic (loss)/earnings per share for the
six months ended 30th September, 2002 is based on the Group's unaudited
consolidated loss attributable to shareholders of approximately
HK$2,022,000 (2001: profit of HK$4,033,000) and the weighted average
number of 600,000,000 (2001: 600,000,000) ordinary shares in issue
during the period.

There were no dilutive potential shares in issue during the periods
ended 30th September, 2001 and 2002.