INVX Overweight Food Prefer CPF BTG :+CPF High Conviction list , raised target price from Bt 26 to Bt 28 higher China/ Vietnam / Thailand Poultry with 2Q24 core Earnings Bt 4.3 bn and 2024 core Earnings Bt 11,000 mn, higher GM***Overweight Energy PTTEP High Conciction list Outperform tp Bt 204, solid 2Q24 Earnings Bt 21,000 mn with forex gain base on Brent Oil +14% to $86***AEONTS cut target to Bt 158 from Bt 170,cut 2024 Earnings by 2% vs Prefer TIDLOR MTC ***GS Prefer INDIA Korea Taiwan and Tech Pharma Biotech for strong growth / Thailand prefer BDmS healthcare innovation *** IPO CHAO Bt 11.80 listing in SET / Food on July 9,2567

INVX 5/7/2567: Prefer CPALL -2SD and best SSSg and Gulf 2Q24 Earnings high record.-1.5 SD/ Overweight Food Prefer CPF BTG TU to GFPT *** TU share buyback selling period ( July 8-12,2024) ***TU 2Q24 Earnings Preview Core Profit Bt 1.3 bn +2% yoy better Sales and margin,+45%qoq / 3Q24 Core Earnings +qoq/+yoy with no loss RL***TU Outperform tp Bt 18***Today INVX Event 10.45 PTTGC Group / MS team***GS Asia Portfolio Strategy Positive Sector Tech Phama Biotechnology and Prefer INDIA North Asia ***Program trading Buy CRC positive surprise on SSSg Fashion in June 2567

INVX 4/7/2567: Overweight Energy Prefer GRM play BCP TOP PTTEP and Gulf -1.5 sd ( 2Q24 Earnings positive/Gov. PDP 2024 review ) / Flows Buy Tech DELTA HANA ( KCE Outperform and laggard but no ESG list and SET50 deletion) / Bank 2Q24 Earnings play Prefer BBL KTB ( Flows Buy KBANK SCB) *** Foreign net buy both Equity and TFEX ***GS Overweight 3 month Oil Gold Cash *** Overweight Food Preference CPF BTG but TU negative impact short term on 8-12 July 2024 Share repurchase 200 mil. shs selling period but positive from. ITC 2Q24 Earnings recovery

INVX 3/7/2567: Overweight Food Prefer CPF ราคาหุ้น+3.96% ทำนิวไฮรอบ 17 เดือน/ Cover short / ไตรมาส2 กำไรโดดเด่น/ BTG vs Short term cautious TU สามารถขายหุ้นซื้อคืน 200 ลห 4.2% ระหว่าง 8-12 กค 2567 ***Neutral Bank 2Q24 Earnings slip both qoq ( TISCO) /yoy ( KBANK)***downside risk on sector loan growth at 3%*** TTB strongest 2Q24 Earnings growth yoy at 15% from Tax benefit / Commerce 2Q24 negaive SSSG Neutral top picks CPALL CPAXT GLOBAL / Flows Buy BDI +5.27% logistic +PSL TTA WICE SINO vs Sell SGC JMT JMART EA NEX TU

INVX 2/7/2567 : BDMS Site Visit negative tone on issuance claim system at Samithivej Sriracha concern *** Low season on Tourism / Program trading Buy EA BYD NRF / GS Asia Pacific. Buy Energy and Telecom *** INVX Prefer TOP and ADVANC TRUE ( Earnings upside) vs Cautious Auto

INVX 1/7/2567: Today Effective date for new SET50/100 and Uptick Rule/ Share buyback COM7 starts / EA Khun Sompote physical meeting today 13.30 ( EA office) / Research TRUE Outperform tp Bt 10, 2Q24 core Earnings preview Bt 835 mn +4% QoQ/ sharp turnaround yoy from 2Q23 loss 2.3 bn*** upside from core Earnings24 at Bt 3,064 mn*** Overweight Telecom Prefer ADVANC and TRUE / Overweight Food Prefer CPF BTG / Program Trading active more Sell EA BYD JPARK vs Buy COM7 WiCE / Flows Buy ROCTEC + sector change from Media to ICT

INVX 28/6/2567: Funds Flow Buy Healthcare vs Sell Energy and Bank/ Program Trading Sell EA NEX BYD vs Buy SYNNEX VGI / Energy sector : Short term negative : low GRM to mark soft 2QEarnings with stock loss ( BCP Outperform tp Bt 51 ,Shutdown/ Turnaround factor but DY 6.7% *** 3 Q GRM +Q/-Y ( Outperform BCP TOP PTT OR PTTEP/ Neutral IRPC SPRC ) *** GS Buy PTT PTTEP TOP / Sell IRPC PTTGC*** Today INVX Invitation Electronic sector / Group MS Team at 14.00*** Today SET50/100 adjusting Portfolio SET50 + BJC ITC BCP TIDLOR / - SAWAD BANPU KCE COM7 / Com7 share repurchase 40 mil. share during July1-Dec.2567

INVX 27/6/2567: Overweight Telecom ADVANC and TRUE with upside Earnings play from Data Centre and Cloud Policy/ Overweight Healthcare BDMS BH BCH CHG high season of Covid+ Influenza and Benefit from Monkutwattana Hospital : SSC cancellation / Overweight Energy Power Gulf and GRM TOP, short covering / Stocks of the Day Prefer ADVANC and AOT to spin-off AOTGA( 49% holding by AOT and 51% SAL (SKY +III) to be listed in SET in year 2568***Land Transportation Prefer BEM to BTS ***

INVX 26/6/2567: ERW 355,369,696 shs. (ERW-W3 ) starts trading today / Cautious Auto Petrochem / Prefer Food CPF BTG TU GFPT / SNNP cut target price to Bt 20.50 from Bt 23.40, weak GPM, high SG&A, lower Vietnam contribution and no ESG list vs Prefer OSP and CBG/ SET Index target 1380-1400 Positive Thai ESG and Uptick Rules impact / Program trading Buy BBGI (KSL holding#2 at 30%) with 2H24 Earnings all time high vs Flows Buy Energy Bank vs Take profit Tech

INVX 25/6/2567: AOT cut target price to Bt 78 from Bt 80 and Earnings down by 1% this year and next year by -4%/ Stock of the day Prefer MINT and BCP

🔶Thai ESG impact คาดบวก 3 % + BEM BBL MINT TOP SCGP

🔶ในช่วงที่มีกองทุน LTF SET Index ให้ผลตอบแทนอยู่ในระดับประมาณ 5-6% มองเป็นปัจจัยเชิงบวกต่อตลาดหุ้นไทย อ้างอิงบทวิเคราะห์ “การกลับมาของ LTF กับผลกระทบตลาดหุ้นไทย” วันที่ 23 พ.ค. ที่ผ่านมา เราแนะนำหุ้น 17 ตัวที่มีพื้นฐานดี valuations ไม่แพง มี ESG ระดับ A-AAA ตามรายงานที่แนบมา โดยหากเลือกหุ้นที่มีปริมาณ short sell outstanding สูงกว่า 1% ตามมุมมองผลบวกจากการ cover short จะมี 5 หุ้นได้แก่ BEM BBL MINT TOP SCGP

🔶ในช่วงที่มีกองทุน LTF SET Index ให้ผลตอบแทนอยู่ในระดับประมาณ 5-6% ต่อปี (หรือ 70-90 จุด) ***SET Index target 2024 at 1450-1500