Tian Ruixiang Holdings Ltd (TIRX)

Tian Ruixiang Holdings Ltd is a holding company incorporated in the Cayman Islands whose operating subsidiaries are based in Beijing, China. Through those subsidiaries it operated as an insurance brokerage, distributing insurance products from third-party insurers to individual and institutional customers in China. The business traces its origins to about 2010.

The company's brokerage covered both property and casualty insurance and life insurance. Property and casualty products included automobile insurance, commercial property coverage, liability insurance, and accident insurance, while life products included individual and group policies. Revenue came mainly from commissions paid by insurance carriers for policies placed with customers, and the company relied on its own sales network and partnerships.

Tian Ruixiang completed its initial public offering and listed its ordinary shares on the Nasdaq Capital Market under the symbol TIRX in early 2021. Like many small China-based issuers listed in the United States, it was exposed to regulatory developments in China, particularly around financial services and offshore listings, and to the thin trading and price volatility common among micro-capitalization stocks.

In the years after its listing, the share price fell substantially, and the company received notices from Nasdaq concerning minimum bid price compliance. It disclosed receipt of a delisting notification relating to the minimum bid price deficiency. The stock's decline continued to levels far below the $1.00 minimum bid price required for continued listing on the Nasdaq Capital Market.

In early March 2026, Nasdaq staff determined that, as of February 27, 2026, the company's securities had a closing bid price of $0.10 or less for ten consecutive trading days. Nasdaq cited its Low Priced Stocks Rule as an additional basis for delisting. The company announced the notification on March 4, 2026, and trading was suspended at the opening of business on March 5, 2026.

After the suspension, Nasdaq filed a Form 25 with the SEC to remove the company's ordinary shares from listing and registration on the exchange; the Form 25 was filed on June 26, 2026. Following the suspension, the shares were quoted over the counter under the symbol TIRXF. The delisting was not connected to an acquisition or merger, and the company remained an independent business. The company's securities remain registered under its home-country incorporation as a Cayman Islands exempted company, and its Beijing-based brokerage subsidiaries continue to be its operating base. Investors who held shares at the time of suspension may still trade them in the over-the-counter market, subject to the limited liquidity typical of such quotations. The company has not announced a plan to relist on a U.S. national exchange.