Akso Health

Pricing power appears absent. FY2026 gross margin was negative 0.1% and FY2025 was −1.9%, despite a modest year‑over‑year revenue decline. The business earns fixed per‑lead commissions from insurance brokers and pays suppliers for traffic, leaving little room to raise prices without losing business. Medical device trading is also price‑competitive.

No evidence of latent pricing power or regulatory monopolies.