Reliance Global Holdings Limited provides earnings guidance for the six months ended 30 September 2023. The Group expects to record a loss attributable to owners of the Company for HY2023 of not more than HKD 3.5 million as compared to the profit of approximately HKD 2.3 million recorded for the six months ended 30 September 2022. Such turnaround of the Group's results is mainly the combined effect of (i) the loss recorded by the Group's timber supply chain operation primarily due to the decline in its revenue, the squeeze in profit margin, the surge in energy costs in Europe and the impairment loss on trade receivables; and (ii) the decrease in profit recorded by the Group's money lending operation primarily due to the decline in its revenue owing to the reduced size of its loan portfolio.