728 x 90

Aoxin Q&M Sees 30.8% Share Price Increase After Reporting RMB7.3M Profit

Aoxin Q&M Sees 30.8% Share Price Increase After Reporting RMB7.3M Profit

Strong Financial Results Signal Recovery

SINGAPORE: Aoxin Q&M shares rose by 30.8% on August 12 after the company revealed a profit of RMB7.3 million (approximately S$1.3 million) for the first half of fiscal year 2024. This marks a dramatic recovery from a loss of RMB1.2 million during the same period last year.

As reported by The Edge Singapore, by 9:38 am, Aoxin Q&M shares were priced at 6.8 cents, a significant increase from 5.2 cents on August 8.

The company had hinted at improved results on July 31, reporting a 6.0% year-on-year (YoY) revenue growth to RMB85.4 million, driven mainly by its primary healthcare and laboratory services. This growth offset the declines in revenue from dental equipment sales.

Revenue from primary healthcare services rose by 12.5% YoY to RMB57.0 million, supported by an increase in patients seeking dental treatments. Additionally, the laboratory services segment saw a 20.5% YoY increase, bringing in RMB10.8 million due to expansion into overseas markets.

Conversely, revenue from dental equipment distribution fell by 15.8% YoY to RMB17.7 million, attributed to reduced demand from government hospitals resulting from budget cuts.

Aoxin Q&M’s EBITDA, excluding associate results, jumped 95.2% YoY to RMB13.1 million. The profit for the period, excluding shares from associates, was RMB4.7 million, significantly better than last year’s loss of RMB3.2 million.

The company also recorded a 30.6% YoY increase in its share of results from Acumen Diagnostics, contributing RMB2.7 million. As of June 30, Aoxin Q&M had cash and cash equivalents totaling RMB57.8 million.

Dr. Shao Yongxin, Group CEO, stated that the company is cautiously optimistic about the next year, expecting improved consumer spending and economic activity in China. He highlighted the competitive landscape of the public healthcare sector, driven by changing regulations.

For the future, Dr. Shao noted plans to explore digital technologies for enhancing treatment plans and uncovering new growth opportunities. He assured that no significant changes are expected in the competitive environment barring any unforeseen circumstances.

Andy Thomas
ADMINISTRATOR
PROFILE

Posts Carousel

Leave a Comment

Your email address will not be published. Required fields are marked with *

Latest Posts

Top Authors

Most Commented

Featured Videos