Aoxin Q&M gets SGX’s nod for mainboard move
The dental group’s net profit sank 87.2% for its first half year
Dental healthcare services provider Aoxin Q&M has received provisional approval from the Singapore Exchange to move its listing from the Catalist bourse to the mainboard. The company disclosed an 87.2% decrease in net profit for its first half year ended June 30, 2023, to 0.351 million yuan (US$0.526 million) compared to 2.7 million yuan in the same period a year prior.
Revenue also declined by 12.1% to 76.4 million yuan from 86.8 million yuan the previous year, primarily due to lower patient volumes, reduced average billing per patient, and decreased sales of dental equipment to government hospitals. However, Aoxin Q&M's dental laboratory services operations in Singapore showed improved performance.
The company is also pursuing a proposed acquisition of a 100% stake in a dental group in central China, valued at 150 million yuan, to expand its footprint in China.
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- Aoxin Q&M gets SGX’s nod for mainboard move businesstimes.com.sg
