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Tag: TIRX

  • Tian Ruixiang Holdings (TIRX) Soars After Acquisition Announcement

    Tian Ruixiang Holdings Ltd (Nasdaq: TIRX) witnessed a significant surge in its stock value today following the unveiling of its acquisition plans. The company, predominantly engaged in insurance brokerage in China, experienced a slight drop, falling nearly 4% during yesterday’s trading session. However, the real frenzy unfolded this morning in premarket trading, with the stock rebounding by an astonishing 34%.

    Acquisition Sparks Investor Excitement

    The abrupt spike in Tian Ruixiang’s stock value is attributed to its recent strategic maneuver. The company’s subsidiary, TRX HongKong Investment Limited, disclosed its intention to acquire Peak Consulting Services Limited, a licensed insurance brokerage based in Hong Kong. This acquisition, valued at $1.5 million, marks a significant stride for Tian Ruixiang in broadening its reach beyond mainland China’s insurance market.

    Strategic Vision and Market Expansion

    Mr. Zhe Wang, Chairman and CEO of Tian Ruixiang Holdings Ltd, expressed enthusiasm about the acquisition, emphasizing its alignment with the company’s long-term strategic objectives. He underscored the growth prospects in the Hong Kong insurance market and the company’s dedication to leveraging its expertise to seize these opportunities. The acquisition aims to seamlessly integrate operations, ultimately enhancing value propositions for clients in the Hong Kong market.

    Conclusion

    Tian Ruixiang’s remarkable surge in stock value mirrors investor optimism surrounding its strategic foray into the Hong Kong insurance brokerage market. With the impending acquisition of Peak Consulting Services Limited, the company is positioned to capitalize on growth prospects beyond mainland China. As Tian Ruixiang continues to execute its strategic vision, investors eagerly anticipate unfolding developments and potential value creation in the dynamic insurance landscape.

  • Tian Ruixiang Holdings Ltd. (TIRX) stock Advances Further After Hours. Why?

    On March 14, shares of Tian Ruixiang Holdings Ltd. (TIRX) continued to rise in the after-hours while it also remained bullish in the regular session. The latest news from the company was fiscal 2021 results, announced on March 07.

    During the regular trading session, TIRX remained bullish as 489.28K shares exchanged hands. The volume of the shares exchanged was above the average at 190%. The stock closed the session in the green with a gain of 9.52% at a price of $0.92 per share. TRIX advanced further in the after-hours to reach a value of $1.00 per share. Thus, the stock added a further 8.70% in the after-hours on Monday.

    The insurance products provider, Tian Ruixiang Holdings Ltd. has a market capitalization of $6.78 million with 11.65 million outstanding shares.

    TIRX’s Movement

    On March 07, the company reported its financial results for fiscal 2021. Following this, the stock entered a downtrend that continued till March 11. The stock closed Friday’s session just above its 52-week low at $0.84. Since there is no recent news after the earnings report, it seems the low price ultimately caused the stock to rebound on Monday. Most likely, the low price was taken as a good purchase opportunity by investors to stock up. Thus resulting in a bullish momentum on Monday which continued into the after-hours as well.

    TIRX currently stands at a year-to-date loss of 44.91%. The stock subtracted a huge value of over 98.9% in the past year.

    Source: HR BIling Services

    Fiscal 2021 Results

    For the fiscal year ended on October 31, 2021, TIRX reported a 14.1% YOY decline in revenue to $2.79 million.

    Moreover, the company incurred a net loss of $1.94 million in fiscal 2021, against a net income of $0.63 million in the previous year. Resultantly, the company had a net loss of $0.23 per share in fiscal 2021, against a net income of $0.13 per share in fiscal 2020.

    At the end of the year, the company’s cash and cash equivalents totaled $30.02 million while the total working capital was $30.51 million. This compares to cash and cash equivalents of $6.14 million and working capital of $8.27 million for fiscal 2020.

    TIRX’s 2021 Performance Incentive Plan

    On December 08, the company announced the adoption of a performance incentive plan for motivating and rewarding eligible employees based on their performance. TIRX registered 5,000,000 Class A ordinary shares with the SEC for issuance under the 2021 Plan.

  • Here’s to know why Tian Ruixiang Holdings Ltd (TIRX) stock is Popping high in Pre-Market today

    Here’s to know why Tian Ruixiang Holdings Ltd (TIRX) stock is Popping high in Pre-Market today

    Tian Ruixiang Holdings Ltd (TIRX) stock announced the comprehensive strategic cooperation agreement with Anqing Road Transport Administrative Center of Anhui Province today after which the Tian Ruixiang Holdings Ltd (TIRX) happened to be bullish and saw an uptrend of  12.19% to reach $7.18% a share at the time of this writing. TIRX stock was bearish in the previous trading session and dropped by 5.47% at closing. Let’s check out more about TIRX stock.

    What’s Happening?

    Tian Ruixiang Holdings Ltd, founded in 2010 and based in Beijing, China, is operating as the insurance broker in the People’s Republic of China. The agreement between TIRX and Anqing has been signed on  June 15, 2021, according to which Anqing Road Transport Administrative Center will get the professional risk management services by the Tian Ruixiang.

    The Chief executive officer considered this agreement as a win-win situation for both Anqing city and the TIRX stock. The CEO further added that Tian Ruixiang will continue to cooperate with government entities in order to meet the needs of its customers.

    Previous Activity by TIRX stock:

    On June 08, 2021, TIRX stock did announce the closing of a follow-on public offering the pricing of which was announced previously on June 03, 2021. The offering was intended to sell 4,800,000 units of the TIRX stock at a per-unit purchase price of US$7.50. The initial closing of 2,000,000 units happened on June 02, 2021, between Tian Ruixiang Holdings Ltd (TIRX) and certain institutional investors and the gross proceeds estimated for that closing were $15 million. Each unit consisted of  TIRX’s one Class A ordinary share along with one warrant having an exercise price of $8 per warrant for the purchasing of class A ordinary share of the Tian stock.

    Tian Ruixiang is planning to use net proceeds in the establishment of an information data platform and intelligent customer service system. Furthermore, net proceeds from this offering would also be used in the building of key customers department and research and development activities by the TIRX stock. Part of the proceeds would be used for general corporate purposes.

    Conclusion:

    Tian Ruixiang stock is hot among investors so far due to the announcement of a strategic cooperation agreement with Anqing Road Transport Administrative Center by the TIRX stock. The management is looking forward to expanding its business by seeking further cooperation projects in the future and focused on the improvement of the company’s infrastructure. In a nutshell, investors need to keep an eye on this stock.