Victory Securities (Holdings) Company Limited provided earnings guidance for the year ended 31 December 2021. For the year, the company expects to record a decrease in its net profit by approximately 35% as compared to that for the year ended 31 December 2020. The Board considers the expected decreases in the Group's net profit for the year ended 31 December 2021 is mainly attributable to the adverse market conditions since the fourth quarter of year 2021, which results in increase in allowance for expected credit losses on accounts receivable.