Sanbase Corporation Limited provided consolidated earnings guidance for the six months ended 30 September 2021. The company announced that based on the preliminary assessment of the unaudited condensed consolidated management accounts of the Group for the six months ended 30 September 2021 (the ?relevant period?) and the information currently available to the Board, the Group is expected to record a substantial decrease in the net profit and gross profit of approximately 50.1% and 22.4% respectively for the Relevant Period as compared with the corresponding period in 2020. The substantial decrease in the net profit and gross profit anticipated were mainly attributable to the combined effects of (i) the prolonged adverse impact on the economy of Hong Kong brought by the constant spread of COVID-19 worldwide, in which certain project owners and/or customers have suffered tight cashflow, leading to postponement and/or slowdown in certain projects; and (ii) the impact of decrease in revenue resulting from fierce competitions in the bare shell fit-out market in Hong Kong outweighing the benefits of the cost control initiatives implemented by the management to reduce the cost of sales in the relevant period.