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 1Q26E core profit of Bt12.5bn (+18% YoY, +1% QoQ), driven by stronger mobile service revenue and lower costs.</li><li>Despite March’s strategy being impacted by unexpected war-related factors, ADVANC’s share price has remained resilient; going forward, we see a need to focus on short-term trading given limited upside.</li><li>A slight share price pullback has reopened some upside. We upgrade to Neutral from Underperform, maintaining our FV at Bt400 (4.4% required return).</li></ul>

We expect 1Q26E core profit of Bt12.5bn (+18% YoY, +1% QoQ), driven by stronger mobile service revenue and lower costs.Despite March’s strategy being impacted by unexpected war-related factors, ADVANC’s share price has remained resilient; going forward, we see a need to focus on short-term trading given limited upside.A slight share price pullback has reopened some upside. We upgrade to Neutral from Underperform, maintaining our FV at Bt400 (4.4% required return).

ADVANCED INFO SERVICE Plc. (ADVANC): Flat Profit, Solid Outlook...

Advanced Info Service

ADVANCED INFO SERVICE Plc. (ADVANC): Flat Profit, Solid Outlook...