บทวิเคราะห์ (Research)

AH : Earnings preview - 3Q earnings pressured by weak margins We estimate 3Q24 earnings would drop 58% yoy and 14% qoq to Bt184m due to a weak gross margin. Thailand car production remains weak and domestic sales have continued to disappoint. We maintain our call to avoid AH in the near-term given (1) the company would halt share buyback prior to the release of 3Q24 results, (2) expectations of slower earnings in 3Q24, and (3) fragile prospects for Thailand’s automotive sector. Maintain NEUTRAL rating and Bt17.50 TP.