Akso Health AHG

Akso Health Group is a Cayman Islands incorporated holding company that has transitioned from financial services to healthcare and e-commerce operations. Originally established as Hexindai Inc. in April 2016 the company underwent two name changes first to Xiaobai Maimai Inc. in December 2020 to reflect its social e-commerce focus and then to Akso Health Group on December 3 2021 to underscore its commitment to the health sector. Historically engaged in online microlending and peer-to-peer marketplace businesses from 2017 to 2019 the company completed the disposal of these operations in December 2020. Following this strategic shift Akso Health Group concentrates on three primary areas: its social e-commerce platform Xiaobai Maimai its cancer therapy and radiotherapy oncology service provider initiatives and its COVID-19 Rapid Antigen Test sales. Beyond these core areas the company has expanded into medical device sales online healthcare services and marketing promotion services for insurance brokers. These activities are conducted through a network of wholly-owned subsidiaries located in China the United States Hong Kong and other jurisdictions. The company maintains its principal executive offices in the Qingdao Pilot Free Trade Zone in Shandong Province China while its legal domicile remains in the Cayman Islands.

Akso Health Group derives revenue from multiple streams tied to its evolving business portfolio. The social e-commerce platform Xiaobai Maimai generates income through a commission model where users receive small rewards for purchases shares or product recommendations made to friends leveraging cooperation with major domestic e-commerce platforms to source goods. As of June 30 2022 the platform had approximately 288 858 active customer accounts defined as those with at least one transaction. The medical devices business conducted through Qingdao Akso in China involves the bulk purchase and resale of products such as defibrillators classified as Class III devices and anesthesia laryngoscopes classified as Class II devices under Chinese regulatory frameworks with revenue from this segment amounting to $0.4 million representing 2.8% of total revenue for the fiscal year ended March 31 2025. Although the company previously marketed COVID-19 Rapid Antigen test kits through Akso Online Medoteh in the United States this activity ceased following the end of the pandemic. The online healthcare segment leverages the acquisition of Tianjin Wangyi Cloud and its subsidiaries Tianjin Deyihui Online Hospital and Tianjin Deyihui Clinic to offer services including teleconsultations electronic prescriptions and digital health product sales. Marketing promotion services provided to car insurance broker agencies in China involve the delivery of targeted consumer data for which the company earns negotiated commissions. This segment demonstrated meaningful client concentration with four accounts contributing 19.9% 17.7% 15.6% and 10.1% of total revenue respectively for the year ended March 31 2025.

Akso Health Group faces varying competitive landscapes across its business lines. In the United States radiation oncology market the company plans to establish specialized centers that will compete with hospital-based providers and private clinics offering similar services. Success will depend on factors such as treatment efficacy patient experience integration with existing healthcare networks and ability to navigate regulatory requirements for medical equipment. The diagnostic testing sector for COVID-19 remains highly contested with competition from diagnostic manufacturers pharmaceutical companies and public health entities where variables like test accuracy speed cost and user experience determine market position. The medical device industry in which Qingdao Akso operates is characterized by frequent innovation regulatory complexity and strong incumbent players requiring careful navigation of approval processes pricing strategies and hospital relationships. Within China's pharmaceutical retail sector the company sees opportunity in the convergence of online and offline channels despite challenges from established chains evolving consumer preferences and increasing operational costs. For its marketing promotion service Akso Health Group believes it holds a pioneering position in applying internet technology to insurance distribution contrasting with competitors who rely on traditional relationship-based approaches. The company cites its analytical capabilities team expertise data-driven customization and deep understanding of insurance consumer behavior as key advantages in this niche.

Akso Health Group's customer base varies significantly by business segment reflecting the diversity of its operations. For medical device sales the company serves institutional and individual buyers including hospitals clinics and medical equipment distributors with Qingdao New Xiekang Medical Technology Co., Ltd. as its sole significant customer accounting for 100% of this segment's revenue. The marketing promotion service division works exclusively with insurance carriers and intermediaries in China where relationships are governed by multi-year contracts and performance is measured by successful policy introductions. During the fiscal year ended March 31 2025 this segment derived revenue from four primary clients contributing 19.9% 17.7% 15.6% and 10.1% respectively to the company's total sales. The online healthcare business targets partnerships with health technology firms such as Shiji Health Technology Co., Ltd. and Beijing Yimai Technology Co., Ltd. which focus on digital health solutions medical device commerce and chronic disease management though formal commercial arrangements remain pending as the company integrates its newly acquired assets. The social e-commerce platform Xiaobai Maimai built a user base of approximately 288 858 active accounts by mid-2022 with engagement driven by its reward mechanism for product sharing and recommendations and its function as a one-stop platform for price comparisons across merchants. Across all segments the company emphasizes direct customer relationships rather than long-term contracts maintaining flexibility to adapt to market conditions regulatory requirements and evolving consumer preferences while building its healthcare ecosystem.