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>4Q25 core profit (excluding earthquake-related hotel repair costs pending insurance claims) was in line with estimates.</li><li>In the near term, 1Q26E should benefit from higher Chinese tourist arrivals during Chinese New Year (13% of total revenue).</li><li>Risks are emerging from a potential slowdown in Chinese tourists, with up to 20% of summer flight slots at AOT airports reportedly canceled by Chinese airlines.</li></ul>

4Q25 core profit (excluding earthquake-related hotel repair costs pending insurance claims) was in line with estimates.In the near term, 1Q26E should benefit from higher Chinese tourist arrivals during Chinese New Year (13% of total revenue).Risks are emerging from a potential slowdown in Chinese tourists, with up to 20% of summer flight slots at AOT airports reportedly canceled by Chinese airlines.

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