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 marked the ninth consecutive quarter that KCE reported downbeat earnings.</li><li>Net profit came in at Bt139mn (-45% YoY, -50% QoQ), representing the largest miss at 40%/43% below our and consensus estimates, respectively.</li><li>Performance weakened across the board, with revenue at a 21-quarter low and soft GPM.</li></ul>

4Q25 marked the ninth consecutive quarter that KCE reported downbeat earnings.Net profit came in at Bt139mn (-45% YoY, -50% QoQ), representing the largest miss at 40%/43% below our and consensus estimates, respectively.Performance weakened across the board, with revenue at a 21-quarter low and soft GPM.

KCE 일렉트로닉스(KCE): 2025년 4분기 순이익 5년 만에 최저치 기록

KCE Electronics PCL

KCE 일렉트로닉스(KCE): 2025년 4분기 순이익 5년 만에 최저치 기록