Aoxin Q & M Dental Group Limited has disclosed that additional allegations have surfaced against its former executive director and group chief executive officer, Dr Shao Yongxin.

The Catalist-listed dental services provider said it has received written declarations from former and current employees as well as minority shareholders claiming that, between 2017 and 2024, Dr Shao purportedly raised about RMB 28 million through the alleged sale of shares he said he owned and obtained personal loans totalling roughly RMB 26 million from the same group of individuals.

One individual who alleges he paid RMB 6.5 million for around 6.89 million shares has lodged a police report in Shenyang on Jul, 2 2026, requesting authorities to investigate and pursue criminal charges. The company noted it is not involved in this action.

Aoxin Q & M reiterated that Dr Shao no longer holds any position in the group and that neither he nor affiliated entity Harvest Fund Enterprise Limited owns any shares in the company following Q & M Dental Group’s enforcement action on Apr, 7 2026. Consequently, the board does not expect the emerging claims to have a material impact on the group’s operations.

The company will update shareholders on any significant developments and advised investors to exercise caution when trading its securities. The announcement was released on Jul, 4 2026 and reviewed by the firm’s sponsor, PrimePartners Corporate Finance.