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

GFPT Public Company Limited / Equity Bottom-Up

<ul><li>Core profit for 2024 and 4Q24 came in slightly below expectations due to higher-than-expected tax expenses.</li><li>The 4Q24 profit declined YoY as 4Q-1Q is the low season for the broiler export <span style="font-size: var(--content-font-size);">business.</span></li><li>The valuation metrics show that the stock remains fundamentally attractive, with the stock price decline opening up 43% upside to the fair value.</li></ul>

Core profit for 2024 and 4Q24 came in slightly below expectations due to higher-than-expected tax expenses.The 4Q24 profit declined YoY as 4Q-1Q is the low season for the broiler export business.The valuation metrics show that the stock remains fundamentally attractive, with the stock price decline opening up 43% upside to the fair value.

GFPT - 4Q24 Core Profit Down 23% YoY and 45% QoQ