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Investing.com - Nomura/Instinet downgraded ViTrox Corp Bhd (VITRO:MK) from Neutral to Reduce on Monday, while raising its price target to MYR3.50 from MYR3.08, following the company’s second-quarter earnings report.
ViTrox reported a 30% quarter-on-quarter increase in revenue for Q2 2025, driven by strong demand rebounds in both its machine vision system (MVS) and automated board inspection (ABI) segments, according to information shared at the company’s earnings briefing.
Despite revenue growth, the company’s profitability was negatively impacted by higher tax provisions following the expiration of its pioneer tax status and unfavorable foreign exchange movements.
The standard MVS segment posted revenue of MYR14.9 million in Q2 2025, up 48% quarter-on-quarter, while tray-based MVS revenue reached MYR53.1 million, increasing 59% from the previous quarter. Total (EPA:TTEF) MVS shipments rose 51% to 350 units, and ABI shipments increased 69% to 152 units.
China remained ViTrox’s primary market, contributing 38% of first-half 2025 revenue, followed by Malaysia (15%), Taiwan (13%), and the United States (10%), with the automotive sector accounting for 35% of revenue during this period.
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