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 forecast 2Q26E core profit to decline 71% YoY and 18% QoQ, driven by lower GPM on both a YoY and QoQ basis.</li><li>For 3Q26E, the company expects livestock prices to recover QoQ, while corn prices, which surged in June, should gradually ease as the harvest season begins.</li><li>We maintain our Underperform rating.</li></ul>

We forecast 2Q26E core profit to decline 71% YoY and 18% QoQ, driven by lower GPM on both a YoY and QoQ basis.For 3Q26E, the company expects livestock prices to recover QoQ, while corn prices, which surged in June, should gradually ease as the harvest season begins.We maintain our Underperform rating.

BETAGRO Plc. (BTG): 2Q26E Earnings Decline YoY/QoQ on Lower GPM and One-Off Expense - Underperform (12M FWD Fair Value Bt18.00)