Akso Health

Track record is poor.

The company raised significant capital via multiple private placements and registered offerings in 2023–2024, then recorded very large impairments of goodwill and intangibles in FY2025 and FY2026. It prepaid 175.7 million dollars for development of “Internet Hospital” modules and subsequently terminated the contracts and obtained refunds, indicating planning and diligence issues.

Extremely heavy warrant issuance in prior periods and a surge in share count (2.56 billion Class A shares outstanding by March 31, 2026; ADS ratio 1 ADS = 3 ordinary shares) reflect major dilution. We see little evidence of disciplined, high‑return reinvestment.