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

Somboon Advance Technology / Equity Bottom-Up

<ul>
<li>We expect SAT's 2Q26E core profit to decline to Bt140mn (-8% YoY, -32% QoQ), mainly due to Thailand's vehicle production falling 7% YoY in 2Q26, marking its weakest level in six quarters.</li>
<li>The outlook has become increasingly challenging.</li>
<li>We therefore maintain our Neutral rating and unchanged fair value of Bt16.00.</li>
</ul>


We expect SAT's 2Q26E core profit to decline to Bt140mn (-8% YoY, -32% QoQ), mainly due to Thailand's vehicle production falling 7% YoY in 2Q26, marking its weakest level in six quarters.
The outlook has become increasingly challenging.
We therefore maintain our Neutral rating and unchanged fair value of Bt16.00.


SOMBOON ADVANCE TECHNOLOGY (SAT): 2Q26E Earnings Expected to Soften; Outlook Turns More Cautious