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.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

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