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 SYNEX to report 1Q26E net profit of Bt173mn (+14% YoY, +7% QoQ).</li><li>Near-term outlook remains challenging, particularly for Apple, phone, and consumer segments (accounting for over 70% of total revenue), due to soft purchasing power, higher IT product prices, and the loss of HONOR-related revenue since 4Q25.</li><li>We still expect SYNEX to deliver earnings growth in 2026, but its catalysts may be less compelling than peers as the company remains in a transition phase toward more sustainable long-term growth.</li></ul>

We expect SYNEX to report 1Q26E net profit of Bt173mn (+14% YoY, +7% QoQ).Near-term outlook remains challenging, particularly for Apple, phone, and consumer segments (accounting for over 70% of total revenue), due to soft purchasing power, higher IT product prices, and the loss of HONOR-related revenue since 4Q25.We still expect SYNEX to deliver earnings growth in 2026, but its catalysts may be less compelling than peers as the company remains in a transition phase toward more sustainable long-term growth.

SYNNEX (THAILAND) Plc. (SYNEX): Earnings Growing, But Still Modest Amid Transition

Synnex

SYNNEX (THAILAND) Plc. (SYNEX): Earnings Growing, But Still Modest Amid Transition