Founder, CEO, GSBR Research

Garvit Bhandari

Founder, CEO

Leading Provider of Equity and Investment Research

GSBR Research

We are an independent equity research provider focused on covering global markets. The aim of the research is to provide an unbiased view of the fundamentals of the company.

Thematic (Sector/Industry)

<ul>
<li>EV charging stations totaled 83,226 nationwide (September 2025), rising 0.8% month-on-month, but the pace remains inadequate to achieve NREL’s 2030 goal of 1M Level 2 and 182k DC Fast chargers.</li>
<li>California leads with 24% of stations and 26% of ports, while Tesla dominates DC Fast charging (54% share). ChargePoint maintains overall leadership with 33% of total ports across its network.</li>
<li>Ultrafast charging is the emerging trend, with 600kW–1.6MW systems from ChargePoint, BYD, CATL, and Zeekr offering range gains up to 300km in five minutes and setting a new global benchmark.</li>
</ul>


EV charging stations totaled 83,226 nationwide (September 2025), rising 0.8% month-on-month, but the pace remains inadequate to achieve NREL’s 2030 goal of 1M Level 2 and 182k DC Fast chargers.
California leads with 24% of stations and 26% of ports, while Tesla dominates DC Fast charging (54% share). ChargePoint maintains overall leadership with 33% of total ports across its network.
Ultrafast charging is the emerging trend, with 600kW–1.6MW systems from ChargePoint, BYD, CATL, and Zeekr offering range gains up to 300km in five minutes and setting a new global benchmark.


US EV Charging Infrastructure Tracker - September 2025

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

<ul><li>The SET rebounded for three consecutive days, supported by gains in DELTA and AOT, which helped lift the index.</li><li>The index climbed closer to the 1,300-point level once again and it is likely to stay above it.</li><li>Hence, we recommend selective speculation, expecting the index to reclaim the 1,300-point level and establish a base for further upside potential.</li></ul>

The SET rebounded for three consecutive days, supported by gains in DELTA and AOT, which helped lift the index.The index climbed closer to the 1,300-point level once again and it is likely to stay above it.Hence, we recommend selective speculation, expecting the index to reclaim the 1,300-point level and establish a base for further upside potential.

Krungthai XSpring Technical Eng. October 6, 2025

Asset Allocation & Fund Positioning, Copley Fund Research

Steven Holden

Asset Allocation & Fund Positioning

Copley Fund Research

Copley Fund Research provide research and data on asset allocation among Global and Emerging Market equity funds.  The analysis details absolute and relative positioning across countries, sectors and industries together with highly granular data on single stock and single fund allocations.  The data is updated monthly with time series going back to January 2011.

Global Research - Analysis of 165 prominent Global equity funds, combined AUM $335bn
GEM Research - Analysis of 127 prominent global EM equity funds, combined AUM $250bn

Asset Allocation - Global and GEM Equity

Cross Asset Strategy

<ul>
<li>Global funds remain structurally underweight Asia, with Japan and China &amp; HK widely held but still below index weight; India stands out as the clearest consensus underweight.</li>
<li>Taiwan Technology dominates sector positioning as the largest regional overweight, while Australian and Asian Financials are structural underweights; rotation shows China sectors and Japan Financials/Industrials gaining traction.</li>
<li>Stock leadership is highly concentrated in TSMC, now owned by 61% of funds; second-tier names stagnate while SK Hynix, BYD, and Sea Ltd attract rising investor participation.</li>
</ul>


Global funds remain structurally underweight Asia, with Japan and China &amp; HK widely held but still below index weight; India stands out as the clearest consensus underweight.
Taiwan Technology dominates sector positioning as the largest regional overweight, while Australian and Asian Financials are structural underweights; rotation shows China sectors and Japan Financials/Industrials gaining traction.
Stock leadership is highly concentrated in TSMC, now owned by 61% of funds; second-tier names stagnate while SK Hynix, BYD, and Sea Ltd attract rising investor participation.


<ul><li>The SET came under profit-taking pressure amid a lack of new catalysts, while a sharp drop in DELTA added to the drag.</li><li>Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline.</li><li>We do not anticipate a deep correction in the index and believe it will eventually rebound.</li></ul>

The SET came under profit-taking pressure amid a lack of new catalysts, while a sharp drop in DELTA added to the drag.Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline.We do not anticipate a deep correction in the index and believe it will eventually rebound.

Krungthai XSpring Technical Eng. SEPTEMBER 29, 2025

<ul><li>The SET advanced for a second consecutive day, supported by two straight sessions of foreign investor buying.</li><li>The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.</li><li>We expect the index to continue climbing toward the 1,300-point target.</li></ul>

The SET advanced for a second consecutive day, supported by two straight sessions of foreign investor buying.The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.We expect the index to continue climbing toward the 1,300-point target.

Krungthai XSpring Technical Eng. September 26, 2025

China

BYD Company Limited manufactures automotive products. The Company produces ordinary passenger cars, commercial vehicles, and other products. BYD also operates battery making, rail transportation construction, and other businesses.

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BYD (002594 CH)

US EV Charging Infrastructure Tracker - September 2025

EV charging stations in the US are increasing, but not fast enough to reach NREL's 2030 goals. California leads in stations and ports, while Tesla...

GSBR Research

Krungthai XSpring Technical Eng. October 6, 2025

The SET rebounded for three consecutive days, supported by gains in DELTA and AOT, which helped lift the index. The index climbed closer to the...

Krungthai XSpring

Global Fund Positioning in Asia

Global funds stay structurally underweight Asia, with Japan and China leading the way. Taiwan Tech dominates sector overweights, while TSMC tops...

Steven Holden

Krungthai XSpring Technical Eng. SEPTEMBER 29, 2025

Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline. We do not anticipate a deep correction in the index...

Krungthai XSpring

Krungthai XSpring Technical Eng. September 26, 2025

The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

US EV Charging Infrastructure Tracker - September 2025

​EV charging stations in the US are increasing, but not fast enough to reach NREL's 2030 goals. California leads in stations and ports, while Tesla...

GSBR Research

Krungthai XSpring Technical Eng. October 6, 2025

The SET rebounded for three consecutive days, supported by gains in DELTA and AOT, which helped lift the index. The index climbed closer to the...

Krungthai XSpring

Global Fund Positioning in Asia

Global funds stay structurally underweight Asia, with Japan and China leading the way. Taiwan Tech dominates sector overweights, while TSMC tops...

Steven Holden

Krungthai XSpring Technical Eng. SEPTEMBER 29, 2025

Fund outflows were a key factor weighing on the index, in addition to DELTA’s sharp decline. We do not anticipate a deep correction in the index...

Krungthai XSpring

Krungthai XSpring Technical Eng. September 26, 2025

The index regained a positive pattern after breaking above the resistance at 1,284 points, signaling a reversal that supports further gains.

Krungthai XSpring

EV charging stations in the US are increasing, but not fast enough to reach NREL's 2030 goals. California leads in stations and ports, while Tesla...