SHENZHEN International Holdings has reported a 93.26 per cent profit fall to $3.21 million for the year ended March 31, compared with profits of $46.37 million previously, that included an exceptional item of $42.51 million. The company pointed out that it had changed its accounting system which had resulted in extraordinary items of $42.51 million in the 1993 results. Chairman Chen Xiaoxiong said the company had made the changes in compliance with the recent rules issued by the Hong Kong Society of Accountants. Turnover was down slightly to $37.22 million from $38.82 million. Earnings per share was down to 0.37 cents from 5.37 cents. No final dividend was declared. Mr Chen said in addition to its core business of optical wholesaling and retailing, the company expanded its activities by making its initial investment in property development in China. He said Maxton International, a private company which is 60 per cent owned by a state-owned enterprise Shenzhen Building Materials Industrial Group Co, had acquired a controlling interest in Shenzhen International Holdings on January 12.