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>AH reported 2Q26 net profit of Bt195mn and core profit of Bt202mn (+78% YoY, -35% QoQ), beating our forecast by 17%.</li>
<li>AH is the only auto stock under our coverage with slight upside risk to our 2026E earnings forecast, supported by strong 1H26 earnings of Bt510mn (+22% YoY).</li>
<li>We maintain our Outperform rating and Bt17 FV, with AH remaining our sector top pick.</li>
</ul>


AH reported 2Q26 net profit of Bt195mn and core profit of Bt202mn (+78% YoY, -35% QoQ), beating our forecast by 17%.
AH is the only auto stock under our coverage with slight upside risk to our 2026E earnings forecast, supported by strong 1H26 earnings of Bt510mn (+22% YoY).
We maintain our Outperform rating and Bt17 FV, with AH remaining our sector top pick.


AAPICO HITECH Plc. (AH): Diversification Sets the Company Apart

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AAPICO HITECH Plc. (AH): Diversification Sets the Company Apart