Q&M Dental seeks $13m from Aoxin CEO after profit guarantee shortfall

The shortfall remains unpaid as of 31 December 2024.

Q&M Dental Group is seeking repayment of $13m (RMB72.3m) from Dr. Shao Yongxin, CEO and Executive Director of Aoxin Q&M Dental Group Limited, over a shortfall under a Profit Guarantee arrangement.

The letter of demand was issued on 17 April.

The Profit Guarantee was part of a 2016 restructuring related to the spin-off and listing of Aoxin, during which Dr. Shao committed to guarantee certain profits tied to an acquisition.

The arrangement was secured by an escrow account funded by Dr. Shao and a share pledge over Aoxin shares held by Health Field Enterprises Limited, a company ultimately controlled by him.

Despite repeated reminders, the shortfall remains unpaid as of 31 December 2024.

The Board said it is now seeking legal advice on enforcement options, including the potential seizure of pledged shares under the Share Security Agreement.

The company stated that the issuance of the letter of demand is not expected to have a material impact on its financial position but advised shareholders and investors to exercise caution pending further developments.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

Daily Markets Briefing: STI down 0.19%; Top stock is MPACT

Mapletree Pan Asia Commercial Trust is the top stock with a 0.75% increase.

Stocks

2 hours ago

'Christian Horner: Unfiltered' Comes to Singapore During F1 Week

The former Oracle Red Bull Racing Team Principal headlines a one-night-only live conversation on leadership, team culture and life at the pinnacle of Formula 1

Leisure & Entertainment

13 hours ago

SC Capital acquires townhouse compound in Chung Hom Kok, Hong Kong