BEIJING, April 21, 2021 /RPNewswire/ -- TIAN RUIXIANG
Holdings Ltd (Nasdaq: TIRX) (the "Company"), a China-based insurance broker, announced today
that on April 21, 2021, it received a
notice (the "Notice") from the Nasdaq Stock Market LLC ("Nasdaq"),
indicating that, as a result of not having timely filed its Annual
Report on Form 20-F (the "Form 20-F") for the fiscal year ended
October 31, 2020, the Company is not
in compliance with Nasdaq Listing Rule 5250(c)(1), which requires
timely filing of all required periodic financial reports with the
Securities and Exchange Commission.
The Notice has no immediate impact on the listing of the
Company's securities, which will continue to trade on Nasdaq,
subject to the Company's compliance with other continued listing
requirements of Nasdaq. Nasdaq requires the Company to submit a
plan no later than May 5, 2021 to
regain compliance. If Nasdaq accepts the plan, Nasdaq can grant the
Company an exception of up to 180 calendar days from the due date
of the Form 20-F, or until August 27,
2021, to regain compliance. The Company is working
diligently and plans to file the Form 20-F as soon as practically
possible.
About TIAN RUIXIANG Holdings Ltd
TIAN RUIXIANG Holdings Ltd, headquartered in Beijing, China, is an insurance broker
operating in China. It distributes
a wide range of insurance products, which are categorized into two
major groups: (1) property and casualty insurance, such as
automobile insurance, commercial property insurance, liability
insurance; and (2) life insurance, such as individual and group
life insurances. For more information, visit the company's website
at http://ir.tianrx.com/.
Forward-Looking Statements
All statements other than statements of historical fact in
this announcement are forward-looking statements. These
forward-looking statements involve known and unknown risks and
uncertainties and are based on current expectations and projections
about future events and financial trends that the Company believes
may affect its financial condition, results of operations, business
strategy and financial needs. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's registration statement and in its
other filings with the SEC.
For more information, please contact:
Sherry Zheng
Weitian Group LLC
Phone: 718-213-7386
Email: shunyu.zheng@weitian-ir.com
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SOURCE TIAN RUIXIANG Holdings Ltd