Q & M Dental Group 2026 H1: Revenue of RMB 524 million, dental business up 13.01% year-on-year.

Source: Q&M Dental 2026 First Half Results Report

Revenue RMB 524 million / Net Profit Attributable to Shareholders of the Parent Company up 27% YoY / Dental business up 13.01% YoY

DentalGoodNews｜August 14, 2026, Singapore-listed dental services group Q & M Dental Group (Singapore) Limited (hereinafter referred to as "Q&M Dental Group") released its first half of 2026 (1H26) results report. During the reporting period, the Group recorded revenue of S$99.462 million (approximately RMB 524 million), up 12.54% YoY; net profit attributable to shareholders of the parent company stood at S$4.897 million (approximately RMB 25.8072 million), up 27.00% YoY. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) reached S$19.243 million (approximately RMB 101 million), up 19.12% YoY.

At the core business level, Q&M Dental Group's dental business recorded revenue of S$98.551 million (approximately RMB 519 million) in 1H26, up 13.01% YoY, accounting for 99.08% of total revenue. The after-tax profit of this segment was S$15.022 million (approximately RMB 79.1659 million), up 9.82% YoY. Growth was primarily driven by increased contributions from dental clinics in Singapore and Malaysia, as well as revenue growth from the China region following the consolidation of Aoxin Q&M. In contrast, other businesses, including general medical and aesthetic services, saw revenue decline by 22.47% to S$0.911 million (approximately RMB 4.8010 million), mainly due to the closure of 4 medical clinics in the first half of the year.

Source: Q&M Dental 2026 First Half Results Report

In terms of regional market layout, Q&M Dental Group's China operations grew rapidly. In 1H26, China region revenue reached S$13.977 million (approximately RMB 73.6588 million), up 420.36% from S$2.686 million (approximately RMB 14.1552 million) in the same period last year, with its share of total Group revenue rising from 3.04% to 14.05%. According to previous reports by DGN, the significant increase in China region revenue was mainly attributed to Aoxin Q&M becoming a subsidiary of the Group and being consolidated into the financial statements after the close of its offer in June 2025. The Group currently operates 7 dental clinics, 4 dental hospitals, and 3 dental laboratories in Liaoning Province. While Singapore market revenue declined slightly by 1.29% YoY to S$78.922 million (approximately RMB 416 million), the number of clinics increased from 108 in the same period last year to 113. The Malaysia market grew by 14.38% to S$6.563 million (approximately RMB 34.5870 million).

Regarding financial costs and distribution, the Group's employee benefit expenses in 1H26 amounted to S$59.883 million (approximately RMB 316 million), up 15.94% YoY, primarily driven by revenue growth at Singapore clinics and the consolidation of Aoxin Q&M, and included approximately S$0.7 million (approximately RMB 3.6890 million) in Performance Share Plan (PSP) and talent incentive expenses. Finance costs increased by 56.75% to S$3.668 million (approximately RMB 19.3304 million), mainly due to higher interest expenses from the S$130 million (approximately RMB 685 million) Medium Term Notes (MTN) issued in July 2025. The Board declared an interim cash dividend for the first half of FY2026 of S$0.004 per share (approximately RMB 0.02), payable on September 4, 2026.

In terms of capital operations and expansion, Q&M Dental Group disclosed progress on its cross-border acquisitions in the report. On July 10, 2026, the Group signed a binding agreement to acquire 100% of the equity of Experteeth Group in Australia for A$119.64 million (approximately RMB 560 million), with the target operating 39 clinics across New South Wales, Victoria, Queensland, Tasmania, and the Australian Capital Territory. The transaction includes an 8-year profit guarantee (approximately A$112.6 million), with part of the consideration paid in new shares subject to a 15-year Lock-up Period. The 8 founding dentist shareholders have also committed to signing 15-year service agreements. Additionally, the Group stated in the report its intention to acquire 51% of Deezy Q&M in Thailand for THB 994.5 million (approximately RMB 202 million), with the target operating 33 clinics. The transaction includes a 6-year profit guarantee (approximately THB 1.25 billion), with part of the consideration paid in new shares subject to a 15-year Lock-up Period.

According to previous reports by DGN, the aforementioned two cross-border acquisitions were publicly announced in July 2026. Furthermore, the Group completed the sale of its Jurong East Central property in Singapore in June 2026 for S$4.75 million (approximately RMB 25.0325 million), generating a gain on disposal of assets of S$1.367 million (approximately RMB 7.2041 million).

Source: Q&M Dental 2026 First Half Results Report

As of June 30, 2026, Q&M Dental Group held cash and cash equivalents of S$119.2 million (approximately RMB 628 million). Total assets stood at S$343.4 million (approximately RMB 1.810 billion), down 0.67% from the end of 2025. The Group stated that it will continue to focus on integrating the newly acquired businesses in Australia and Thailand into its regional platform, while maintaining operational efficiency and growth in its existing markets of Singapore, Malaysia, and China.