Aoxin acquired a 51% stake in Acumen back in October 2021 to capture such demand amid pandemic-related restrictions still in place, recalls Chua Ser Miang, Aoxin’s non-executive chairman, in the same interview with Ng. With vaccines soon discovered and widely available, testing demand was no longer required. “Earnings and revenue came down significantly,” says Chua.
Q&M Dental may have made a handsome gain of more than 87% in its share price over the past year, but its separately listed subsidiary, Aoxin Q&M Dental Group (SGX:1D4
) , outshines the parent with a gain of more than 320% in the same period. Much of the gain came only starting from last December.
Before this, Aoxin, quoted on the Catalist, had a rough ride, no thanks to a series of negative corporate developments. The company operates dental clinics and hospitals primarily in the north-eastern region of China. Among its holdings was a 51% stake in Acumen Diagnostics, which, for a brief couple of years, was in the business of providing Covid-19 test kits.
