Akso Health Group (NASDAQ: AHG)

Akso Health Group, also known as Hexindai Inc., operates in the healthcare industry, specifically focusing on social e-commerce platform business, healthcare equipment and products trading, and radiation oncology services. The company was established in April 2016 and has since expanded its operations to include various business activities.

Akso Health Group's main business activity is its social e-commerce platform, Xiaobai Maimai, which offers high-quality and affordable branded products to customers. The platform sources goods and services from major domestic e-commerce platforms and services marketplaces, providing a selection of the most desirable items. As of June 30, 2022, Xiaobai Maimai had approximately 288,858 active customer accounts since its launch. In addition to its social e-commerce business, the company has also engaged in the sale of healthcare equipment and products, including COVID-19 Rapid Antigen test kits and medical devices such as defibrillators and anesthesia laryngoscope.

The company's radiation oncology services business is focused on providing cancer therapy and radiation oncology services to patients in the United States. Although the company had signed a product purchase agreement with a third-party supplier to purchase equipment for the new cancer therapy and radiation oncology business, it terminated the agreement in February 2022 due to the continuous influence of COVID-19 and the global chip shortage.

Akso Health Group competes with manufacturers and distributors of medical devices in the medical device industry. The company's main competitors in the radiation oncology and cancer therapy center business include government-owned and private hospitals that offer radiotherapy, diagnostic imaging, and other oncology healthcare services. The diagnostic testing industry, especially for COVID-19, is highly competitive, and the company expects ongoing intense competition from different sources.

The company's customers are primarily medical product dealers and end-users such as hospitals. The main customers of the company are Xi'an Nazhi Hengsheng Medical Equipment Co., Ltd, Xuzhou Bowei Medical Equipment Co., Ltd. and Sichuan Nazhi Tongchuang Medical Equipment Co., Ltd, which represented approximately 100% of its total purchases for the fiscal year ended March 31, 2024.

Regarding the company's intellectual property, Akso Health Group has registered a website at http://www.ahgtop.com/en/index.html. However, the company cannot be certain that the steps it has taken or will take in the future will prevent misappropriation of its technology and intellectual property rights.