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

Charoen Pokphand Foods / Equity Bottom-Up

<ul><li>We expect 1Q26E core profit to surge 155x QoQ, driven by a strong rebound in Vietnamese swine and Thai broiler prices, which lifts GPM and equity income.</li><li>However, profit is expected to decline 60% YoY due to weaker GPM from lower Thai swine prices and reduced equity income.</li><li>Thai swine and broiler prices have risen, while Vietnamese swine has remained elevated, supporting 2Q26 momentum from tighter supply (heat, seasonal disease) and benefiting GPM.</li></ul>

We expect 1Q26E core profit to surge 155x QoQ, driven by a strong rebound in Vietnamese swine and Thai broiler prices, which lifts GPM and equity income.However, profit is expected to decline 60% YoY due to weaker GPM from lower Thai swine prices and reduced equity income.Thai swine and broiler prices have risen, while Vietnamese swine has remained elevated, supporting 2Q26 momentum from tighter supply (heat, seasonal disease) and benefiting GPM.

CHAROEN POKPHAND FOODS Plc. (CPF): 1Q26E Earnings Down YoY, Up QoQ...