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>SYNEX’s 2Q25E core profit is expected to have remained stable at Bt152mn (+17% YoY, +1% QoQ), supported by continued revenue growth reaching an all-time high, propelled by the strong sales of the NSW2.</li><li>We believe the company’s performance remains strong relative to the retail sector, as the 2Q25E and 2H25E earnings are expected to continue growing, supported by the launch of the new iPhone and the steady stream of new games for NSW2.</li><li>We maintain our Outperform stock rating with an unchanged fair value of Bt12, while adjusting the valuation rating from buy to undervalued.</li></ul>

SYNEX’s 2Q25E core profit is expected to have remained stable at Bt152mn (+17% YoY, +1% QoQ), supported by continued revenue growth reaching an all-time high, propelled by the strong sales of the NSW2.We believe the company’s performance remains strong relative to the retail sector, as the 2Q25E and 2H25E earnings are expected to continue growing, supported by the launch of the new iPhone and the steady stream of new games for NSW2.We maintain our Outperform stock rating with an unchanged fair value of Bt12, while adjusting the valuation rating from buy to undervalued.

シネックス（タイランド） - 2025年第2四半期の利益は安定すると予想されており、これは前向きな兆候である。

Synnex Thailand

シネックス（タイランド） - 2025年第2四半期の利益は安定すると予想されており、これは前向きな兆候である。