Aoxin cited “differences in views and opinions” with its parent Q&M Dental Group, regarding the strategic direction of the dental business as the reason for Shao’s resignation.
The Aoxin audit committee has found “reasonable evidence” to suggest that Aoxin Q&M’s ex-group CEO Dr Shao Yongxin has obtained funds for his own personal use, according to an investigations update filed on Sept 8.
Shao announced his resignation from the Catalist-listed company which is a Chinese spin-off from mainboard listed Q&M Dental, on July 22, after a whistleblowing report was filed against him to the company’s audit committee.
