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INSURANCE AGENTS, BROKERS & SERVICE · SMALL CAP

Tian Ruixiang Holdings Ltd. TIRXF

7 fiscal years on record · USD · FY2024 reported · SEC filings only
$3.2M
▲ 158.7% YoY
$-4.0M
$897,894
▼ 9.7% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

We are not a Chinese operating company. Investors of our Class A Ordinary Shares will not own any equity interests in the VIE, but instead own shares of a Cayman Islands holding company. Our operations are conducted in China by the VIE and its subsidiaries. We do not have any equity ownership of the VIE, instead, we control and receive the economic benefits of the VIE’s business operations through contractual arrangements, or “VIE Agreements” entered into among WFOE, TRX ZJ and TRX ZJ’s sole shareholder. Under United States generally accepted accounting principles (“U.S. GAAP”), the Company is deemed to have a controlling financial interest in, and be the primary beneficiary of, the VIE, for accounting purposes, because such contractual arrangements are designed so that the operations of the VIE are solely for the benefit of WFOE and, ultimately, the Company.

Written from the business description in Tian Ruixiang Holdings Ltd's annual report to the U.S. Securities and Exchange Commission, filed 31 January 2025. Every sentence was checked against that document before publication.

Growth

USD 3.2M
Revenue, FY2024 · full 7-year series below
Revenue $M Net income $M
FY2024 · Revenue 3.2 · Net income -4.0
2M3M-2M-4M
201820212024
Compound annual growth
+4.9%
+10.0%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +10.0% a year over the five years to FY2024.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−124 cents
lost on every revenue dollar
Operating margin Net margin
FY2024 · Operating -144.3% · Net -123.8%
20%40%-100%-200%-300%
201820212024
ROE
FY2024 · ROE -12.0%
5%10%15%-5%-10%
201820212024
Three returns, three denominators.

Each USD of equity lost 12 cents this year.

Cash & shareholders

·
returned in FY2024 · dividends + net buybacks
Free cash flow $M
FY2024 · FCF 0.9
0.5M1.0M-0.5M-1.0M
201820212024

Total assetsUSD 40.0M
EquityUSD 33.9M
CashUSD 297,288.00
Current ratio6.74×

Equity funds 85% of total assets.

The 7-year record

7 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
TIRXF, 7-year financial record
Metric 2024202320222021202020192018
Revenue $B0.00.00.00.00.00.00.0
Operating income $B−0.0−0.0−0.0−0.00.00.00.0
EBITDA $B−0.0−0.0−0.0−0.00.00.00.0
Income tax $B0.00.00.00.00.00.00.0
Net income $B−0.0−0.0−0.0−0.00.00.00.0
Free cash flow $B0.00.0−0.0−0.0−0.00.00.0
EPS, diluted $−2.42−3.87−9.03−5.650.630.040.22
Dividend / sh $◌◌◌◌◌◌◌
Payout % — not applicable: no dividend———————
ROE %−12.0−7.4−12.9−8.27.82.315.0
Shares out B◌◌◌◌0.010.01◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 26 reconciliationsAUDITED

Reconciled in 7 of the 7 fiscal years we could check. 24 checks were skipped: the balance sheet is not tagged before 2019. 11 checks were skipped: EPS is not tagged before 2018.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityInsurance Agents, Brokers & Service
Listed onnot stated in the filings
Incorporated inoutside the United States — SEC code E9
Fiscal year endsOctober 31
SEC categoryemerging growth company
Data on record since2018

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