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.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Equity Bottom-Up

<ul>
<li>We expect AH's 2Q26E core profit to recover strongly to Bt171mn (+51% YoY, -45% QoQ).</li>
<li>Although the industry backdrop remains challenging, AH's diversified business portfolio, together with our view that it remains the least exposed to geopolitical tensions in the Middle East among auto parts companies, should provide greater resilience against industry risks.</li>
<li>We maintain our Outperform rating and unchanged fair value of Bt17.00.</li>
</ul>


We expect AH's 2Q26E core profit to recover strongly to Bt171mn (+51% YoY, -45% QoQ).
Although the industry backdrop remains challenging, AH's diversified business portfolio, together with our view that it remains the least exposed to geopolitical tensions in the Middle East among auto parts companies, should provide greater resilience against industry risks.
We maintain our Outperform rating and unchanged fair value of Bt17.00.


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