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>1Q26 profit beat expectations, driven by stronger wholesale sales and better-than-expected operating expense control, lifting earnings 1% YoY and 4% QoQ.</li><li>We upgrade our rating to Outperform (from Neutral) after the share price correction opened 17% upside to our Bt17.20 fair value, based on a required return of 5.6%.</li><li>1Q26 net profit came in at Bt2.79bn (+6% YoY, +9% QoQ).</li></ul>

1Q26 profit beat expectations, driven by stronger wholesale sales and better-than-expected operating expense control, lifting earnings 1% YoY and 4% QoQ.We upgrade our rating to Outperform (from Neutral) after the share price correction opened 17% upside to our Bt17.20 fair value, based on a required return of 5.6%.1Q26 net profit came in at Bt2.79bn (+6% YoY, +9% QoQ).

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