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>We upgrade our rating on HANA from Underperform to Neutral, with a revised target price of Bt33.</li><li>We recommend a parallel investment strategy: 1) Continue to speculate on the AIP trend, as the market is expected to revise up the 2027 EPS following a clearer AI plan, similar to how HANA's stock price previously surged by over 91% after the Phononic project announcement.</li><li>We expect AI-related revenue to account for 10% of total revenue in 27, and have therefore revised our 26/27 profit forecasts by 4%/24% respectively.</li></ul>

We upgrade our rating on HANA from Underperform to Neutral, with a revised target price of Bt33.We recommend a parallel investment strategy: 1) Continue to speculate on the AIP trend, as the market is expected to revise up the 2027 EPS following a clearer AI plan, similar to how HANA's stock price previously surged by over 91% after the Phononic project announcement.We expect AI-related revenue to account for 10% of total revenue in 27, and have therefore revised our 26/27 profit forecasts by 4%/24% respectively.

HANA MICROELECTRONICS Plc. (HANA): AIP-Driven Speculation Is Permissible, But Trade With Caution

Hana Microelectronics

HANA MICROELECTRONICS Plc. (HANA): AIP-Driven Speculation Is Permissible, But Trade With Caution