{"id":702347,"date":"2022-10-27T18:05:29","date_gmt":"2022-10-27T22:05:29","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/tian-ruixiang-holdings-ltd-reports-financial-results-for-the-six-months-ended-april-30-2022\/"},"modified":"2022-10-27T18:05:29","modified_gmt":"2022-10-27T22:05:29","slug":"tian-ruixiang-holdings-ltd-reports-financial-results-for-the-six-months-ended-april-30-2022","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tian-ruixiang-holdings-ltd-reports-financial-results-for-the-six-months-ended-april-30-2022\/","title":{"rendered":"TIAN RUIXIANG Holdings Ltd Reports Financial Results for the Six Months Ended April 30, 2022"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n BEIJING<\/span>
\n <\/span>, Oct. 27, 2022<\/span><\/span> \/PRNewswire\/ —\u00a0TIAN RUIXIANG Holdings Ltd (Nasdaq:\u00a0TIRX) (the “Company”), a\u00a0China-based insurance broker conducting business through its variable interest entity in China<\/span>, announced today its unaudited financial results for the six months ended\u00a0April 30, 2022.<\/p>\n

Mr.\u00a0Zhe Wang, Chairman of the board of the directors and Chief Executive Officer of the Company, commented, “The challenging macro environment and disruptions caused by the ongoing regional Covid-19 pandemic restrictions in China<\/span> has impacted our business. Our revenue decreased by 42.2% for the six months ended April 30, 2022<\/span>, which was primarily attributable to a significant decrease in the commissions from liability insurance. We executed our strategy to expand our business in commercial property insurance and other insurances to partially offset the decrease in the revenue from liability insurance. We plan to continue attracting new customers and strengthening our relationship with existing customers through our dedicated sales team and high-quality customer services. Looking forward, we remain committed in our business strategy to expand our market share and growth opportunities in the insurance industry in China<\/span>, while improving our operational efficacy to achieve sustainable development goal and provide long-term returns to our shareholders.”<\/p>\n

\n First Half of Fiscal Year 2022 Financial Highlights<\/b>\n <\/p>\n

\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n

\n
\n For the Six Months Ended April 30,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n ($ in millions, except per share data)<\/i>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n
\n 2022<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2021<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n % Change<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Revenue<\/span>\n <\/p>\n<\/td>\n

\n

\n 0.95<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1.64<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (42.2)\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Operating expenses<\/span>\n <\/p>\n<\/td>\n

\n

\n 4.83<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2.10<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 129.6\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Loss from operations<\/span>\n <\/p>\n<\/td>\n

\n

\n (3.88)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.47)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 733.6\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Net <\/span>
\n loss<\/span>
\n <\/span>\n <\/p>\n<\/td>\n

\n

\n (3.50)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.40)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 767.4\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n Loss<\/span>
\n per share<\/span>\n <\/p>\n<\/td>\n

\n

\n (0.28)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (0.06)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 366.7\u00a0%<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n