TIAN RUIXIANG Holdings Ltd Enters into Strategic Cooperation Agreement with Yunnan Anhua Disaster Prevention and Mitigation Technology Co., Ltd.

Rhea-AI Summary

TIAN RUIXIANG Holdings Ltd (Nasdaq: TIRX) has signed a strategic cooperation agreement with Yunnan Anhua Disaster Prevention and Mitigation Technology Co., Ltd. to enhance disaster mitigation and risk management services in Yunnan, China. This partnership aims to develop consulting and training services while establishing a professional team to facilitate insurance management and related products, including liability insurance for carbon emissions. The company's CEO expressed optimism about expanding into the southwestern market of China, aiming to leverage expertise in risk management.

Positive

• Strategic cooperation with Yunnan Anhua enables TIRX to enhance disaster risk management services.
• Plans to establish a provincial branch in Yunnan align with the company's growth strategy.
• Development of consulting and training services creates potential revenue streams.

Negative

• None.

BEIJING, Nov. 24, 2021 /PRNewswire/ -- TIAN RUIXIANG Holdings Ltd (Nasdaq: TIRX) (the "Company"), a China-based insurance broker, announced today that it has entered into a strategic cooperation agreement (the "Agreement") with Yunnan Anhua Disaster Prevention and Mitigation Technology Co., Ltd. (" Yunnan Anhua"), to explore business opportunities in disaster mitigation and risk management in Yunnan province, China. Yunnan Anhua specializes in disaster assessment, risk model technology development, disaster prevention and mitigation technology innovation, and risk protection products designing.

Pursuant to the Agreement, both parties agreed to jointly develop risk management related consulting and training services. Both parties also agreed to establish a professional service team to execute in-depth strategic cooperation in insurance broker-related business, insurance plan framework, and insurance management business, including but not limited to: liability insurance for carbon emission reduction of Electronic Toll Collection ("ETC"), and industry database think tanks.

Mr. Zhe Wang, Chairman of the board of the directors and Chief Executive Officer of the Company, commented, "We're pleased to cooperate with Yunnan Anhua and plan to set up a provincial branch in Yunnan province in the near future. One of the Company's core growth strategies is to establish branches and contribute to regional economic development in the fast growing economic regions in China. This strategic cooperation agreement is the result of the Company's effort to expand its business to the southwest market in China. Looking forward, we are confident to provide our customers with better products and services by leveraging our expertise in risk management."

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. Additionally, the Company also provides risk management services to institutional customers. For more information, visit the company's website at http://ir.tianrx.com/.

Forward-Looking Statements

Certain statements 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 risk factors that may affect its future results in the Company's registration statement and in its other filings with the SEC.

For investor and media enquiries, please contact:

TIAN RUIXIANG Holdings Ltd
Investor Relations Department
Email: ir@tianrx.com 

Ascent Investor Relations LLC
Tina Xiao
Phone: +1 917-609-0333
Email: tina.xiao@ascent-ir.com 

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SOURCE TIAN RUIXIANG Holdings Ltd

FAQ

What is the recent agreement announced by TIRX?

TIAN RUIXIANG Holdings Ltd announced a strategic cooperation agreement with Yunnan Anhua to develop disaster mitigation and risk management services in Yunnan, China.

How will the cooperation with Yunnan Anhua benefit TIRX?

The cooperation is expected to enhance TIRX's consulting and training services in risk management, potentially leading to new revenue opportunities.

What market is TIRX planning to expand into with the new agreement?

TIAN RUIXIANG is planning to expand into the southwestern market of China with the establishment of a new branch in Yunnan.

What type of insurance services will TIRX focus on in the partnership?

The partnership will focus on liability insurance related to carbon emission reduction and risk management consulting.

When was the cooperation agreement between TIRX and Yunnan Anhua announced?

The cooperation agreement was announced on November 24, 2021.