Akso Health Group Announces Effective Date of Name Change and Ticker Symbol Change

BEIJING,Dec. 16,2021 -- Akso Health Group ("Akso Health",the "Company" or "We") (NASDAQ: AHG),formerly known as Xiaobai Maimai Inc.,today announced that the Company will update its name and ticker symbol on the Nasdaq Stock Market,effective at the start of trading on December 16,2021 (the "Effective Date").

On the Effective Date,the Company's ADS and ordinary shares will be quoted under the new name "Akso Health Group" which was previously approved by the Company's shareholders (the "Name Change"),and the Company's ticker symbol will be updated to "AHG".

Ms. Yilin Wang,Chairwoman and Chief Executive Officer of Akso Health,commented,"We are excited to align our Nasdaq ticker symbol AHG with our new name,Akso Health Group,in recognition of our new business development as a cancer therapy and radiotherapy oncology service provider. These updates are a proactive measure,approved by the Board and our shareholders,which we believe aligns with our core business operations moving forward and will help investors better understand our long term growth strategy and positioning in the US health market."

About Akso Health Group

Akso Health Group (NASDAQ: AHG),operates a social e-commerce platform in China that collaborates with other domestic e-commerce platforms and offers users a wide selection of high-quality and affordable products. In addition,the Company plans to develop a new business as a cancer therapy and radiotherapy oncology service provider with operations in the U.S. The Company plans to open 2 vaccine research centers and 100 radiation oncology centers to be located on the east coast serving cancer patients in need of varying stages of treatment,including specialized radiation therapy centers for radiotherapy (RT),personalized consultation,conventional treatment planning,and other cancer related treatment services.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934,as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"),in its annual report to shareholders,in press releases and other written materials and in oral statements made by its officers,directors or employees to third parties. Any statements that are not historical facts,including statements about the Company's beliefs and expectations,are forward-looking statements that involve factors,risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include,but not limited to the following: risks related to our ability to obtain equipment,technology,license and talents at satisfactory terms to start the planned business,if at all; risks regarding the effect of the COVID-19 pandemic on the Company and the Company's position in a post-COVID-19 environment; risks related to the Company's ability to adapt and make the necessary adjustments to compete and operate effectively; risks related to decisions or changes in governmental or private insurers' reimbursement levels for our radiotherapy services or our ability to obtain reimbursement for our radiotherapy services; risks related to increased competition and the development of new competing services; the risk that we may be unable to develop or achieve commercial success for radiotherapy services in a timely manner,or at all; risks related to regulatory requirements or enforcement inthe United Statesand changes in the structure of the healthcare system or healthcare payment systems; risks related to our ability to successfully integrate and derive benefits from any technologies that we license or acquire; risks related to our projections about our business,results of operations and financial condition; and risks related to the potential market opportunity for our products and services. Further information regarding these and other risks,uncertainties or factors is included in the Company's filings with the SEC. All information provided in this announcement is current as of the date of this announcement,and the Company does not undertake any obligation to update such information,except as required under applicable law.

For more information,please visitir.xiaobaimaimai.com

For investor inquiries,please contact:

The Company

Investor Relations

Ms. Zenabo Ma

Email:ir@xiaobaimaimai.com

Christensen

InChina

Mr.Eric Yuan

Phone: +86-10- 5900-1548

E-mail:Eyuan@christensenir.com

In US

Mr. Tip Fleming

Phone: +1-917-412-3333

Email:tfleming@Christensenir.com

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