On 26 April 2017, Aoxin Q & M Dental Group Limited (“Aoxin Q & M” or the “Company”), the subsidiary of Q & M Dental Group (Singapore) Limited (“Q & M Singapore”), was spun off from the formerly listed parent company and successfully listed on the Catalist Board of the Singapore Exchange (the “SGX”). The Company offered 57 million placement shares at S$0.20 apiece in its initial public offering. The price appreciated by 15% immediately after the market opened, and the Company raised capital of about S$11.4 million (about RMB 56 million) by such placement and became the first Chinese private dental entity ever listed on the SGX. As another successful spin-off and overseas listing advised by King & Wood Mallesons (“KWM”), the Aoxin Q & M project has demonstrated our outstanding ability to assist our clients in various areas in successfully expanding their financing market overseas and realizing their international business objectives.

Q & M Singapore, the largest private dental group in Singapore, has a history of nearly 20 years. Aoxin Q & M is a leading supplier of private dental services and dental equipment in northern China, operating and managing 11 dental centres.

KWM acted as the Company’s PRC counsel in this project. In the critical period of filing to the SGX, our team exploited their rich experience and strong domestic and international influence to help with the Company’s successful listing. The team reviewed key Chinese law matters of the restructuring in this project and issued a supplemented PRC legal opinion in a short time. Our close cooperation, efficient work, prompt response and professional competence in the project have been highly recognized and praised by our client and other agenies. The project was led by Wang Lixin, Xiao Lan and Sun Haotian from KWM’s South China offices.