Sapphire Corporation Limited said its effective 49.8% indirectly owned subsidiary, Shengshi Fanmu (Sichuan) Cultural and Creative Development Co., Ltd. (SFCCD), incorporated a new associated company in China, Benxishi Benxihu Industrial Tourism Co., Ltd., on 21 May 2025. SFCCD subscribed for a 35% equity interest for RMB 350,000 out of the company’s registered capital of RMB 1,000,000, with the remaining 65% held by Benxishi Cultural and Tourism Industry Development Group Co., Ltd. The investment will be funded by internal resources and is not expected to have a material impact on FY2025 EPS or NTA per share.

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