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 expect strong 2Q26E SSSG and GPM to drive YoY earnings growth, despite a QoQ decline on seasonality.</li><li>SSSG momentum has remained strong at above 5% in the first half of July, extending the positive momentum from the Friend of Moshi campaign in 2Q26.</li><li>We maintain our Outperform rating.</li></ul>

We expect strong 2Q26E SSSG and GPM to drive YoY earnings growth, despite a QoQ decline on seasonality.SSSG momentum has remained strong at above 5% in the first half of July, extending the positive momentum from the Friend of Moshi campaign in 2Q26.We maintain our Outperform rating.

MOSHI MOSHI RETAIL CORPORATION Plc. (MOSHI): Earnings to Rise 18% YoY but Fall 17% QoQ on Seasonality - Outperform (12M FWD Fair Value Bt37.50)

Moshi Moshi Retail

MOSHI MOSHI RETAIL CORPORATION Plc. (MOSHI): Earnings to Rise 18% YoY but Fall 17% QoQ on Seasonality - Outperform (12M FWD Fair Value Bt37.50)