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 maintain our Outperform rating, as the fair value (FV) has potential for an upward revision given a more positive market risk premium outlook following greater clarity on US reciprocal tariff measures, which turned out better than expected.</li><li>Additionally, the stock carries very limited downside risk from a tactical perspective.</li><li>ADVANC announced an interim dividend of Bt6.89/share for the 1H25 performance, implying a dividend yield of 2.4% (XD date: August 19, 2025).</li></ul>

We maintain our Outperform rating, as the fair value (FV) has potential for an upward revision given a more positive market risk premium outlook following greater clarity on US reciprocal tariff measures, which turned out better than expected.Additionally, the stock carries very limited downside risk from a tactical perspective.ADVANC announced an interim dividend of Bt6.89/share for the 1H25 performance, implying a dividend yield of 2.4% (XD date: August 19, 2025).

Advanced Info Service - Solid 2Q25 Earnings