Sapphire Corporation Limited provided group earnings guidance for the full financial year ended 31 December 2023. The group is expected to report a material decrease in its consolidated net profit, compared to the corresponding period in 2022 or maybe even a net loss for FY2023. This is mainly attributable to lower revenue and lower gross margin, higher administrative expenses, impairment of other receivables, and additional provision for the guaranteed accounts receivables of the Group's
significant associated company Ranken Railway.