Xiaobai Maimai Announces the Results of Annual General Meeting and Name Change

BEIJING,Dec. 4,2021 -- Xiaobai Maimai Inc. (NASDAQ: HX) ("Xiaobai Maimai" or the "Company"),today announced that it held the 2021 annual general meeting of shareholders (the "AGM") at the Meeting Room,Futian Shangri-La,4088 Yi Tian Road,Futian District,Shenzhen 518408,People's Republic of China,at 10:00 a.m. (Beijing Time) on December 3,2021. At the AGM,holders of 71,057,650 ordinary shares (including ordinary shares represented by the Company's American Depositary Shares),out of the 71,478,550 ordinary shares issued and outstanding,were present in person or by proxy,and therefore constituted a quorum of more than one-third of the ordinary shares outstanding and entitled to vote at the AGM as of October 29,2021,the record date of the AGM.

At the AGM,the shareholders of the Company approved the name change of the Company from "Xiaobai Maimai Inc." to "Akso Health Group," as a special resolution of the Company. As an ordinary resolution of the Company,the shareholders ratified the appointment of Wei,Wei & Co.,LLP as the Company's independent registered public accounting firm.

About Xiaobai Maimai Inc.

Xiaobai Maimai Inc. (NASDAQ: HX),formerly known as Hexindai Inc.,("Xiaobai Maimai" or the "Company"),is currently engaged in two lines of business,i.e. a social e-commerce platform based inBeijing,Chinaand the planned cancer therapy and radiation oncology business.

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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