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Home Product Center Public Co Ltd: 1 director
A director at Home Product Center Public Co Ltd sold 210,000 shares at 7.150THB and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last...
- Benjaphol Suthwanish
- Kasemsun Koonnara
- Tanapon Cholkadidamrongkul
- Tanaporn Visaruthaphong
Thailand Daily - Wednesday, July 30, 2025
KEY HIGHLIGHTS Results Home Product Center (HMPRO TB/SELL/Bt7.30/Target: Bt5.60) 2Q25: Earnings drop yoy, in line with our forecast. Update Airports of Thailand (AOT TB/SELL/Bt42.00/Target: Bt24.00) Weaker yoy earnings expected in 3QFY25. Amata Corporation (AMATA TB/BUY/Bt15.70/Target: Bt25.00) 2Q25 results preview: Net profit momentum likely to moderate. Central Pattana (CPN TB/BUY/Bt51.75/Target: Bt79.60) Ex...
- Anas Fitri Bin Ahmad
- Benjaphol Suthwanish
- Carol Dou Xiao Qin
- Jonathan Koh
- Julia Pan Mengyao
- Kasemsun Koonnara
- Keith Wee Teck Keong
- Lester Siew
- Ming San Soong
- Posmarito Pakpahan
- Roy Chen Chengzhi
- Sunny Chen
- Tanapon Cholkadidamrongkul
- Tanaporn Visaruthaphong
Regional Morning Meeting Notes: Wednesday, July 30, 2025
GREATER CHINA Sector Internet WAIC - Battlefield of AI applications and agents to reshape productivity. Results WuXi AppTec (2359 HK/BUY/HK$111.70/Target: HK$146.00) 1H25: Results beat; benefitting from growing CRDMO service demand. Upgrade to BUY. INDONESIA Results AKR Corporindo (AKRA IJ/BUY/Rp1,345/Target: Rp1,525) 2Q25: Momentum builds, but 4Q25 to del...
AKRA PT AKR CORPORINDO TBK
AMATA AMATA CORP
3K1 KINGSOFT CORP. LTD.
C6L SINGAPORE AIRLINES LTD.
CPN CENTRAL PATTANA PUBLIC CO. LTD.
00700 TENCENT HOLDINGS LTD.
AOT AIRPORTS OF THAILAND PUBLIC CO. LTD.
BURSA BURSA MALAYSIA BHD
HAPL HAP SENG PLANTATIONS HOLDINGS BHD
09988 ALIBABA GROUP HOLDING LTD.
HMN ASCOTT RESIDENCE TRUST
KORE KEPPEL PACIFIC OAK US REIT
01024 KUAISHOU TECHNOLOGY CLASS B
09888 BAIDU INC
WUXI APPTEC CO. LTD. CLASS H
- Tanapon Cholkadidamrongkul
Home Product Center (HMPRO TB) - Weak Outlook Expected Throughout The ...
We expect 2Q25 earnings to come in at Bt1.35b, declining both yoy and qoq due to sluggish same-store sales and a lower gross margin. The unusually cold summer significantly impacted sales of cooling products. We also anticipate continued weakness in same-store sales in 2H25, which could weigh on both top-line and profitability. Given the downside risk to consensus forecast, we downgrade HMPRO to SELL with a lower target price of Bt5.60.
- Tanapon Cholkadidamrongkul
Thailand Daily - Tuesday, July 15 , 2025
KEY HIGHLIGHTS Update Betagro (BTG TB/HOLD/Bt17.60/Target: Bt18.50) 2Q25 earnings will be the peak of 2025, but swine price downcycle pressures outlook. Home Product Center (HMPRO TB/SELL/Bt6.70/Target: Bt5.60) Downgrade to SELL. Weak outlook expected throughout the year.
- Benyamin Mikael
- Claire Wang Kelai
- Ejann Hiew
- Gigi Cheuk
- Heidi Mo Jinghui
- Jack Goh Tooan Orng
- John Cheong Ming Chern
- Julia Pan Mengyao
- Kate Luang
- Ming San Soong
- Philip Wong
- Shirley Wang Xueyi
- Stella Guo Yuting
- Tanapon Cholkadidamrongkul
- Tham Mun Hon
Regional Morning Meeting Notes: Tuesday, July 15, 2025
GREATER CHINA Economics Money Supply New credit jumps in June, but annual credit growth edges lower. Trade June data above expectations. Strategy Small-Mid Cap Monthly Maintain BUY on Crystal for its strong order growth momentum in 1H25; long-term wallet share gains intact. In...
5225 IHH HEALTHCARE BHD.
7090 APEX HEALTHCARE
02331 LI NING COMPANY LIMITED
3182 GENTING BHD.
MAG MAGMATIC RESOURCES
BST BERJAYA SPORTS TOTO BHD
KPJ KPJ HEALTHCARE BERHAD
GENM GENTING MALAYSIA BHD
DBB DUOPHARMA BIOTECH BHD
RGB RGB INTERNATIONAL BHD
2232 CRYSTAL INTERNATIONAL GROUP LTD
02161 JBM (HEALTHCARE) LTD
BTG BETAGRO PUBLIC COMPANY LIMITED
0303 ALPHA IVF GROUP
1523 PLOVER BAY TECHNOLOGIES LTD (1523 HK)
OTEK OILTEK INTERNATIONAL (OTEK SP)
9660 HK HORIZON ROBOTICS INC (9660 HK)
DEWA IJ DARMA HENWA (DEWA IJ)
QSG US QUANTASING GROUP LIMITED
- Chong Lee Len
- Claire Wang Kelai
- Desmond Chong Chee Wai
- Ejann Hiew
- John Cheong Ming Chern
- Kitpon Praipaisarnkit
- Krit Tanarattananon
- Malaysia Research Team
- Paula Ruth
- Shirley Wang Xueyi
- Stella Guo Yuting
- Tanapon Cholkadidamrongkul
- Thailand Research Team
- Tham Mun Hon
- Vincent Khoo Boo Aik
Regional Morning Meeting Notes: Wednesday, July 02, 2025
GREATER CHINA Economics PMI Modest recovery with construction rebound. Sector Macau Gaming Jun 25 GGR beat consensus by 9%; GGR has regained momentum in recent months. INDONESIA Small/Mid Cap Highlights MAP Aktif Adiperkasa (MAPA IJ/NOT RATED/Rp700) Expanding active lifestyle retail business; 1Q25 NPAT up 21% yoy. MAL...
BDMS BANGKOK DUSIT MEDICAL SERVICES PUBLIC CO. LTD.
BJC BERLI JUCKER PUBLIC CO. LTD.
ERW ERAWAN GROUP
BN2 VALUETRONICS HOLDINGS
IVL INDORAMA VENTURES PUBLIC CO. LTD.
COM7 COM7
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
00027 GALAXY ENTERTAINMENT GROUP LIMITED
5347 TENAGA NASIONAL BHD
599A SANDS CHINA LTD.
CPN CENTRAL PATTANA PUBLIC CO. LTD.
BCH BANGKOK CHAIN HOSPITAL PCL
INRI INARI AMERTRON BHD
MLK MALAKOFF CORP BHD
GAM GAMUDA BHD
MTC MUANGTHAI CAPITAL PCL
MYEG MY EG SERVICES BHD
IJM IJM CORP BHD
CPALL TB CP ALL
ECW ECO WORLD DEVELOPMENT GROUP
GMB GAS MALAYSIA BHD
RATCH RATCH GROUP PUBLIC CO. LTD.
DBB DUOPHARMA BIOTECH BHD
CSSC CHINA SUNSINE CHEMICAL HOLDINGS LTD
SCGP SCG PACKAGING PCL
CORAZA CORAZA INTEGRATED TECHNOLOGY BERHAD
HUME HUME CEMENT INDUSTRIES BHD
PEKAT PEKAT GROUP BHD
TIDLOR TIDLOR HOLDINGS PCL
MAPA IJ MAP AKTIF ADIPERKASA (MAPA IJ)
- Kampon Akaravarinchai
Home Product Center (HMPRO TB) - 1Q25: Flattish yoy Earnings Momentum
HMPRO reported 1Q25 net profit of Bt1.7b, down 0.3% yoy and 1.1% qoq, and in line with our and market estimates. Top-line and profitability for 1Q25 were flat yoy. SSS for Apr 25 remains unexciting with a negative momentum. We maintain our 2025 earnings, expecting a 3% yoy growth. We still foresee a lack of share price catalysts in the short term. Maintain HOLD. Target price: Bt10.00.
- Arsit Pamaranont
- Benjaphol Suthwanish
- Kampon Akaravarinchai
Thailand Daily - Wednesday, April 30, 2025
KEY HIGHLIGHTS Results Home Product Center (HMPRO TB/HOLD/Bt8.25/Target: Bt10.00) 1Q25: Flattish yoy earnings momentum. Update Bangchak Corporation (BCP TB/BUY/Bt35.50/Target: Bt45.00) 1Q25 results preview: Expect a soft quarter, but remain positive on the long-term outlook. Bangchak Sriracha (BSRC TB/BUY/Bt5.35/Target: Bt7.00) 1Q25 results preview: Expect slim core and net profits. SCG Packaging (SCGP TB/HOLD/Bt14.00/Target: Bt13.20) 2Q25 net profit expected to contin...
- Arsit Pamaranont
- Benjaphol Suthwanish
- Benyamin Mikael
- Chong Lee Len
- Claire Wang Kelai
- Colin Lee
- Ejann Hiew
- Heidi Mo Jinghui
- John Cheong Ming Chern
- Johnny Yum Chung Man
- Jonathan Koh
- Kampon Akaravarinchai
- Kenny Yong Hui Lim
- Kong Ho Meng
- Lester Siew
- Shirley Wang Xueyi
- Stella Guo Yuting
- Ziv Ang Sze Champ
Regional Morning Notes - Wednesday, April 30, 2025
GREATER CHINA Results China Construction Bank (939 HK/HOLD/HK$6.79/Target: HK$7.00): 1Q25: Earnings miss due to weaker NIM and fee income; tariff risk is limited. Downgrade to HOLD. China Longyuan Power (916 HK/HOLD/HK$6.10/Target: HK$6.60): 1Q25: In line; cautious outlook amid rising curtailment rates and upcoming policy shift. China Merchants Bank (3968 HK/BUY/HK$44.50/Target: HK$49.00): 1Q25: Earnings down 2.1% yoy on weaker trading gains. Estun Automation (002747 CH/SELL/Rmb19.17/Target: Rmb...
BCP THE BANGCHAK PETROLEUM PCL
FCT FRASERS CENTREPOINT TRUST
BRPT PT BARITO PACIFIC TBK
F34 WILMAR INTERNATIONAL LIMITED
ESSO ESSO (THAILAND)
6WX CHINA LONGYUAN POWER GROUP CORP. LTD. CLASS H
600519 KWEICHOW MOUTAI CO. LTD. CLASS A
601939 CHINA CONSTRUCTION BANK CORPORATION CLASS A
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
002472 ZHEJIANG SHUANGHUAN DRIVELINE (A)
5243 VELESTO ENERGY
M4B CHINA MERCHANTS BANK CO. LTD. CLASS H
333 MIDEA GROUP
2747 ESTUN AUTOMATION
MPM MARCO POLO MARINE LTD
SCGP SCG PACKAGING PCL
- Kampon Akaravarinchai
Home Product Center (HMPRO TB) - 4Q24: Results In Line
HMPRO reported a 4Q24 net profit of Bt1,727m, up 3% yoy and 19.8% qoq, in line with our and market expectations. The key driver for 4Q24 was from a higher gross margin yoy. We still foresee an unexciting SSS growth momentum for 1Q25, expected at around -4% yoy. We maintain our earnings forecast for 2025, and anticipate a growth of 3% yoy. Maintain HOLD. Target price: Bt10.00.
- Arsit Pamaranont
- Benjaphol Suthwanish
- Kampon Akaravarinchai
- Kasemsun Koonnara
Thailand Daily - Wednesday, February 26, 2025
KEY HIGHLIGHTS Results CP ALL (CPALL TB/BUY/Bt49.25/Target: Bt66.00) 4Q24: Better-than-expected earnings. Home Product Center (HMPRO TB/HOLD/Bt8.15/Target: Bt10.00) 4Q24: Results in line. Quality Houses (QH TB/HOLD/Bt1.61/Target: Bt1.70) 4Q24: Below expectations, decreasing yoy and qoq. Ratchaburi Group (RATCH TB/BUY/Bt27.00/Target: Bt40.00) 4Q24: Results below expectations, but bo...
- Kampon Akaravarinchai
Home Product Center (HMPRO TB) - Expect 4Q24 Earnings To Be Flat yoy
We expect HMPRO to post a 4Q24 net profit of Bt1,690m, up 0.8% yoy, driven by a slight improvement in gross margin which offset the higher interest expense. Looking forward, we foresee development in cost management following the strategy to open hybrid stores. However, we still expect an unexciting 2024 top-line momentum amid intensifying competition. Maintain HOLD. Target price: Bt10.00.
- Bella Lu Yifei
- Claire Wang Kelai
- Jo Yee Ng
- Jonathan Koh
- Julia Pan Mengyao
- Kampon Akaravarinchai
- Ken Lee
- Kitpon Praipaisarnkit
- Kong Ho Meng
- Ming San Soong
- Posmarito Pakpahan
- Thanawat Thangchadakorn
- Ziv Ang Sze Champ
Regional Morning Notes - Friday, January 24, 2025
GREATER CHINA Sector Automobile: Weekly: PV sales up 14% yoy and 30% wow. Maintain MARKET WEIGHT. Top BUYs: Geely, CATL, Fuyao and Desay. Renewable Energy: Solar energy equipment: Prolonged industry consolidation, moderation of global installation growth and rising protectionism challenge survivability. Results TAL Educational Group (TAL US/BUY/US$11.07/Target: US$14.00): 3QFY25: Strong earnings beat; profit turnaround amid investment in learning devices. INDONESIA Results Bank Negara Indonesia...
- Kampon Akaravarinchai
Home Product Center (HMPRO TB) - 3Q24: Earnings In Line; Unexciting Ou...
HMPRO report 3Q24 net profit of Bt1,442m, down 5.9% yoy, pressured by negative SSS of Home Pro. We expect unexciting 4Q24 earnings due to the sluggish SSS momentum. We revise down HMPRO’s 2024-25 net profit by 3% and 4.4% respectively. Its share price is trading at an unappealing valuation of nearly -1SD of PE while the outlook remains unexciting. Downgrade to HOLD. Target price: Bt11.00.
- Benjaphol Suthwanish
- Kampon Akaravarinchai
- Tanaporn Visaruthaphong
Thailand Daily - Wednesday, October 30, 2024
KEY HIGHLIGHTS Results Home Product Center (HMPRO TB/HOLD/Bt9.65/Target: Bt11.00) 3Q24: Earnings in line; unexciting outlook with unappealing valuation. Downgrade to HOLD. SCGP (SCGP TB/HOLD/Bt25.50/Target: Bt26.00) 3Q24: Net profit below our and consensus estimates. Update Bangkok Dusit Medical Services (BDMS TB/BUY/Bt28.25/Target: Bt32.00) Expecting a record-high quarter in 3Q24.
- Adrian Loh Tzum Yung
- Bella Lu Yifei
- Benjaphol Suthwanish
- Carol Dou Xiao Qin
- Chong Lee Len
- Colin Lee
- Gigi Cheuk
- Heidi Mo Jinghui
- Jo Yee Ng
- John Cheong Ming Chern
- Johnny Yum Chung Man
- Jonathan Koh
- Kampon Akaravarinchai
- Kate Luang
- Ken Lee
- Kong Ho Meng
- Shirley Wang Xueyi
- Stella Guo Yuting
- Stevanus Juanda
- Sunny Chen
Regional Morning Notes - Wednesday, October 30, 2024
GREATER CHINA Initiate Coverage VSTECS Holdings (856 HK/BUY/HK$4.46/Target: HK$5.47): Leading IT distributor riding the AI wave. Results Haier Smart Home (6690 HK/BUY/HK$29.80/Target: HK$42.00): 3Q24: Earnings growth driven by efficiency improvement; expect potential tariff hike to have limited impact. Joyson Electronics (600699 CH/BUY/Rmb16.68/Target: Rmb30.00): 3Q24: Earnings in line; maintain BUY with unchanged target price of Rmb30.00. Shenzhen Inovance (300124 CH/HOLD/Rmb56.46/Target: Rmb56...
VST HOLDINGS LTD.
NANO NANOCO GROUP
BN4 KEPPEL CORPORATION LIMITED
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
ROTI NIPPON INDOSARI CORPINDO
0168 TSINGTAO BREWERY CO. LTD. CLASS H
BDMS-R BANGKOK DUSIT MEDICAL SERVICES PCL NVDR
AXIATA AXIATA GROUP BERHAD
SCGP SCG PACKAGING PCL
06690 HAIER SMART HOME CO. LTD. CLASS H
8AZ WUXI APPTEC CO. LTD. CLASS H
Z29 AZTECH GLOBAL LTD
600699 029 GROUP SE
JOYSON ELECTRONICS CORP
- Adrian Loh Tzum Yung
- Bella Lu Yifei
- Kampon Akaravarinchai
- Ken Lee
- Kitpon Praipaisarnkit
- Philip Wong
- Posmarito Pakpahan
- Thailand Research Team
Regional Morning Meeting Notes: Monday, September 09, 2024
GREATER CHINA Sector Automobile Weekly: PV sales rebound by 10% yoy, beating estimates. Maintain MARKET WEIGHT. Top BUYs: CATL and Desay SV. Top SELL: XPeng. INDONESIA Update Pertamina Geothermal Energy (PGEO IJ/BUY/Rp1,130/Target: Rp1,400) Additional capacity of 55MW by Dec 24. Upgrade to BUY with target price unchanged. MALAYSIA Initiate Coverage 99 Speed Mart Retail (99SMART MK/BUY/RM1.65/Target: RM2.00) ...
300014 EVE ENERGY CO. LTD. CLASS A
CK CH. KARNCHANG PCL
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
COM7 COM7
KBANK KASIKORNBANK PUBLIC CO. LTD.
M3I MINTH GROUP LIMITED
002340 GEM CO. LTD. CLASS A
5Z0 ZHONGSHENG GROUP HOLDINGS LTD.
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
002709 GUANGZHOU TINCI MATERIALS TECHNOLOGY CO LTD CLASS A
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
01585 YADEA GROUP HOLDINGS LTD.
2333 GREAT WALL MOTOR CO. LTD. CLASS H
1211 BYD COMPANY LIMITED CLASS H
2338 WEICHAI POWER CO. LTD. CLASS H
02238 GUANGZHOU AUTOMOBILE GROUP CO. LTD. CLASS H
AOT AIRPORTS OF THAILAND PUBLIC CO. LTD.
MTC MUANGTHAI CAPITAL PCL
CPALL TB CP ALL
1772 GANFENG LITHIUM CO. LTD. CLASS H
WHA TB WHA CORP PCL
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
3606 FUYAO GLASS INDUSTRY GROUP CO LTD-H
603305 NINGBO XUSHENG AUTO TECHNOLOGY (A)
002920 HUIZHOU DESAY SV AUTOMOTIVE CO LTD
PGEO PERTAMINA GEOTHERMAL ENERGY
STM SEATRIUM LTD
EPIC 1CM INC
Z29 029 GROUP SE
02015 LI AUTO INC
09868 XPENG INC
600699 NINGBO JOYSON ELECTRONIC CORP
99SMART 99 SPEED MART RETAIL HOLDINGS BHD
- Carol Dou Xiao Qin
- Chong Lee Len
- Jo Yee Ng
- Johnny Yum Chung Man
- Jonathan Koh
- Julia Pan Mengyao
- Kate Luang
- Kitpon Praipaisarnkit
- Krit Tanarattananon
- Ming San Soong
- Ringo Tang Chi Yu
- Shirley Wang Xueyi
- Stella Guo Yuting
- Stevanus Juanda
- Sunny Chen
- Tham Mun Hon
- Ziv Ang Sze Champ
Regional Morning Meeting Notes: Tuesday, August 27, 2024
GREATER CHINA Strategy Cross Currents We expect the MSCI China index to range trade for the rest of 2024; we prefer TMT, tech hardware and defensives like banks, communication services and utilities. Results Goldwind Science & Technology (2208 HK/BUY/HK$4.46/Target: HK$5.30) 1H24: In line; shifting focus to offshore WTG and overseas markets. Jiumaojiu International Holdings (9922 HK/BUY/HK$2.49/Target: HK$3.50) 1H24: Result...
U11 UNITED OVERSEAS BANK LTD. (SINGAPORE)
MYOR MAYORA INDAH
LPPF PT MATAHARI DEPARTMENT STORE TBK CLASS A
UNVR PT UNILEVER INDONESIA TBK
MAPI MITRA ADIPERKASA
X2S SINOPHARM GROUP CO. LTD. CLASS H
ROTI NIPPON INDOSARI CORPINDO
2899 ZIJIN MINING GROUP CO. LTD. CLASS H
PDD PINDUODUO INC. SPONSORED ADR CLASS A
T TELEKOM MALAYSIA BHD
ICBP INDOFOOD CBP SUKSES MAKMUR T
CPALL TB CP ALL
TXG 10X GENOMICS INC CLASS A
TDC TIME DOTCOM BHD
02208 XINJIANG GOLDWIND SCIENCE & TECHNOLOGY CO. LTD. CLASS H
1888 KINGBOARD LAMINATES HOLDINGS LTD
09922 JIUMAOJIU INTERNATIONAL HOLDINGS LTD.
CMRY PT CISARUA MOUNTAIN DAIRY TBK
TIMECOM 029 GROUP SE
Z29 ACE HARDWARE INDONESIA
- Kampon Akaravarinchai
Home Product Center (HMPRO TB) - More Challenging Outlook But Share Pr...
HMPRO is maintaining its focus on the domestic market by strengthening existing stores and adding new hybrid stores. We foresee more intense competition, but we still see room for HMPRO’s improvement. We maintain our 2024-25 earnings growth estimates of 2.7% yoy and 5.9% yoy respectively. The share price is trading at a deep PE discount of -2SD. Maintain BUY. Target price: Bt12.10.
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