At the time of writing, some 262,335 shares of the ACE Market-listed company have exchanged hands in what is the counter’s highest trade since more than a month ago.

The group reported a RM3.36 million net loss for the financial period ended Jan 31, 2023 (Q1 FY2023), plummeting 221% year-on-year (y-o-y) from a net profit of RM2.77 million, and 162% quarter-on-quarter (q-o-q) from RM5.45 million.

The group’s Q1 FY2023 revenue of RM2.90 million, meanwhile, has dropped 80% y-o-y from RM14.50 million and 75% q-o-q from RM11.60 million.

VisDynamics attributed in its bourse filing that this decrease was due to the shortage of sales in machinery. Its Q1 FY2023 inventory had increased to RM21.1 million from the previous quarter’s RM19.9 million.

Its trade receivables in the same quarter, meanwhile, has dropped from RM9.7 million in Q4 FY2022 to RM5.6 million.

On Feb 13, VisDynamics emerged on Bursa Malaysia’s top gainers list after it had proposed a bonus issue, which saw its share price rise 40.14% or 29.5 sen, closing at a one-year high of RM1.03 with 37.51 million shares traded.

The company had proposed a bonus issue of up to 87.6 million new shares on the basis of one bonus share for every two existing shares, which was followed by a bonus issue of warrants involving up to 65.7 million warrants on the basis of one warrant for every four shares.

Moving ahead, the company hopes that the rising emphasis on renewables and electric vehicles, China’s economic reopening, and introduction of new products will cushion the impact of its financial performance this year.

At mid-day break, VisDynamic recovered marginally by 7 sen to 67 sen with a market capitalisation of RM116.79 million.