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 downgrade our rating to Sell from Outperform and revise our 12-month forward fair value to Bt3.26, based on a required return of 7.7%, implying a PER of 15.8x (previously Bt5.55, based on a required return of 5.8%).</li><li>The lower fair value reflects downward earnings revisions. While revised profit is projected to grow at a 37% CAGR in 2026–28E, this is largely driven by a low base.</li><li>The 4Q25 loss underscores limited business flexibility amid weak consumption, while drowsy Oh! Juice revenue continues to challenge the company’s new-brand expansion.</li></ul>

We downgrade our rating to Sell from Outperform and revise our 12-month forward fair value to Bt3.26, based on a required return of 7.7%, implying a PER of 15.8x (previously Bt5.55, based on a required return of 5.8%).The lower fair value reflects downward earnings revisions. While revised profit is projected to grow at a 37% CAGR in 2026–28E, this is largely driven by a low base.The 4Q25 loss underscores limited business flexibility amid weak consumption, while drowsy Oh! Juice revenue continues to challenge the company’s new-brand expansion.

플룩팍프라우락매 주식회사(OKJ): 제한적인 판매 확장성으로 인해 운영에 압박을 받고 있다

Ohhaju

플룩팍프라우락매 주식회사(OKJ): 제한적인 판매 확장성으로 인해 운영에 압박을 받고 있다