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>HANA’s profit is expected to enter a recovery phase in 2H25, supported by expectations of reduced losses from PMS and improving orders. We forecast HANA’s 2025 profit at Bt974mn (+7% YoY).</li><li>Although HANA has restructured PMS by downsizing the business, demand in the SiC industry remains weak. While PMS losses—which have weighed on HANA’s performance—are likely to decline from last year, the medium-term outlook is still subdued.</li><li>We view HANA as one of the companies most exposed to US tariff-related geopolitical risk, with the US accounting for 26% of its revenue. The company also operates a plant in China that contributes 17% of total revenue and is directly impacted by tariff issues.</li></ul>

HANA’s profit is expected to enter a recovery phase in 2H25, supported by expectations of reduced losses from PMS and improving orders. We forecast HANA’s 2025 profit at Bt974mn (+7% YoY).Although HANA has restructured PMS by downsizing the business, demand in the SiC industry remains weak. While PMS losses—which have weighed on HANA’s performance—are likely to decline from last year, the medium-term outlook is still subdued.We view HANA as one of the companies most exposed to US tariff-related geopolitical risk, with the US accounting for 26% of its revenue. The company also operates a plant in China that contributes 17% of total revenue and is directly impacted by tariff issues.

HANA MICROELECTRONICS Plc. (HANA): The Share Price Has Largely Priced In Future Optimism

Hana Microelectronics

HANA MICROELECTRONICS Plc. (HANA): The Share Price Has Largely Priced In Future Optimism