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>2Q25 net profit was Bt6.8bn, in line with expectations, including a foreign exchange loss of Bt237mn.</li><li>The CVS business recorded sales of Bt118bn (+5% YoY, +3% QoQ) with SSSG of -0.8% (strongest in April but weakened in May-June due to the rainy season, fewer tourists, and the domestic economic slowdown, leading to a 4% YoY drop in daily customer traffic per store, despite a 3.5% increase in average spending per bill).</li><li>The 3Q outlook is the low season for the CVS business, during which the company typically runs sales promotions to stimulate demand.</li></ul>

2Q25 net profit was Bt6.8bn, in line with expectations, including a foreign exchange loss of Bt237mn.The CVS business recorded sales of Bt118bn (+5% YoY, +3% QoQ) with SSSG of -0.8% (strongest in April but weakened in May-June due to the rainy season, fewer tourists, and the domestic economic slowdown, leading to a 4% YoY drop in daily customer traffic per store, despite a 3.5% increase in average spending per bill).The 3Q outlook is the low season for the CVS business, during which the company typically runs sales promotions to stimulate demand.

CP ALL Plc. (CPALL): 2Q25 Core Profit Grew 14% YoY but Declined 7% QoQ...

CP ALL PCL

CP ALL Plc. (CPALL): 2Q25 Core Profit Grew 14% YoY but Declined 7% QoQ...