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Tian Ruixiang Holdings ( (TIRX) ) has issued an announcement.
Tian Ruixiang Holdings Ltd has reported that the equity shares of its variable interest entity, TRX ZJ, owned by WDZG Consulting, have been judicially frozen due to debts. This freeze poses a risk of losing control over TRX ZJ if shares are auctioned to third parties, potentially voiding the VIE agreements. While the business remains unaffected currently, the company plans to participate in potential auctions to retain control, though outcomes remain uncertain.
More about Tian Ruixiang Holdings
Tian Ruixiang Holdings Ltd is a company operating in the insurance brokerage industry, primarily offering services through its variable interest entity, Zhejiang Tianruixiang Insurance Broker Co. LTD. The company focuses on leveraging contractual arrangements to control and benefit from its VIE, rather than owning it directly.
Average Trading Volume: 133,156
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $4.08M
For detailed information about TIRX stock, go to TipRanks’ Stock Analysis page.
