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

Srinanaporn Marketing Public Company Limited / Equity Bottom-Up

Srinanaporn Marketing Public Company Limited (SNNP TB)

Srinanaporn Marketing Public Company Limited

<ul><li>We have revised down our earnings estimates for 2024-26E by an average of 8% per year, following a reduction in the sales forecasts by 10% per year.</li><li>This adjustment reflects the lower- than-expected foreign sales, particularly in the Vietnamese market.</li><li>As a result, the revised forecasts call for sales and profit growth at a 6% and 9% CAGR, respectively, over the next three years.</li></ul>

We have revised down our earnings estimates for 2024-26E by an average of 8% per year, following a reduction in the sales forecasts by 10% per year.This adjustment reflects the lower- than-expected foreign sales, particularly in the Vietnamese market.As a result, the revised forecasts call for sales and profit growth at a 6% and 9% CAGR, respectively, over the next three years.

Srinanaporn Marketing - 3Q24E Growth of 5% YoY