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>2Q26 net profit and core profit were in line with expectations.</li><li>Core profit grew strongly both YoY and QoQ, driven by GHECO-One and lower interest expenses.</li><li>We maintain our Outperform rating, with a 12M FV of Bt53.25 and a 2027 fair value of Bt58.25.</li></ul>

2Q26 net profit and core profit were in line with expectations.Core profit grew strongly both YoY and QoQ, driven by GHECO-One and lower interest expenses.We maintain our Outperform rating, with a 12M FV of Bt53.25 and a 2027 fair value of Bt58.25.

GLOBAL POWER SYNERGY Plc. (GPSC): Strong 2Q26 Core Profit; PDP 2026 to Drive the Next Growth Cycle – Outperform (12M FWD Fair Value Bt53.25)

Global Power Synergy

GLOBAL POWER SYNERGY Plc. (GPSC): Strong 2Q26 Core Profit; PDP 2026 to Drive the Next Growth Cycle – Outperform (12M FWD Fair Value Bt53.25)