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>The market already priced in the one-off expenses that led to a net loss in 2Q25.</li><li>However, risks from one-time expenses have declined, and concerns over trade receivables from EDL have been resolved on sales of receivables at discount with payments received on Jul-2025.</li><li>Looking ahead, positive drivers for the stock price are expected to come from 3Q25E, which is projected to be the strongest quarter of the year — supported by higher capacity rates and electricity sellable output from the US CCGT projects, and peak season at Nam San 3A &amp; 3B project.</li></ul>

The market already priced in the one-off expenses that led to a net loss in 2Q25.However, risks from one-time expenses have declined, and concerns over trade receivables from EDL have been resolved on sales of receivables at discount with payments received on Jul-2025.Looking ahead, positive drivers for the stock price are expected to come from 3Q25E, which is projected to be the strongest quarter of the year — supported by higher capacity rates and electricity sellable output from the US CCGT projects, and peak season at Nam San 3A &amp; 3B project.

BCPG - Turnaround to a Net Loss in 2Q25 Due to One-Time Expenses

BCPG PCL

BCPG - Turnaround to a Net Loss in 2Q25 Due to One-Time Expenses