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>SSSG and the GPM are expected to support YoY growth in 2Q25E core profit, though a seasonal QoQ decline is anticipated.</li><li>1H25E profit is expected to account for 47% of the full-year 2025E estimate. 3Q25E profit is expected to remain flat QoQ before peaking in 4Q.</li><li>We maintain our current earnings forecast.</li></ul>

SSSG and the GPM are expected to support YoY growth in 2Q25E core profit, though a seasonal QoQ decline is anticipated.1H25E profit is expected to account for 47% of the full-year 2025E estimate. 3Q25E profit is expected to remain flat QoQ before peaking in 4Q.We maintain our current earnings forecast.

Moshi Moshi Retail Corporation - 2Q25E Core Profit to Grow 62%YoY but Fall 18% QoQ