天睿祥2022年度报告

TableofContents UNITEDSTATES SECURITIESANDEXCHANGECOMMISSIONWASHINGTON,D.C.20549 FORM20-F ☐REGISTRATIONSTATEMENTPURSUANTTOSECTION12(b)OR(g)OFTHE SECURITIESEXCHANGEACTOF1934 OR ☒ANNUALREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIES EXCHANGEACTOF1934 ForthefiscalyearendedOctober31,2022OR ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIES EXCHANGEACTOF1934 Forthetransitionperiodfromto. OR ☐SHELLCOMPANYREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIES EXCHANGEACTOF1934 Dateofeventrequiringthisshellcompanyreport:Commissionfilenumber:001-39925 TIANRUIXIANGHoldingsLtd (ExactnameofRegistrantasSpecifiedinitsCharter) CaymanIslands (JurisdictionofIncorporationorOrganization) Room1001,10/F,No.25,NorthEastThirdRingRoad, ChaoyangDistrict,Beijing,ThePeople’sRepublicofChina(010)87529554 (AddressofPrincipalExecutiveOffices) ZheWang,ChiefExecutiveOfficer(010)87529554 wangzhe@tianrx.com Room1001,10/F,No.25,NorthEastThirdRingRoad,ChaoyangDistrict,Beijing, ThePeople’sRepublicofChina (Name,Telephone,E-mailand/orFacsimileNumberandAddressofCompanyContactPerson) SecuritiesregisteredortoberegisteredpursuanttoSection12(b)oftheAct: TitleofeachclassTradingSymbol(s) Nameofeachexchangeonwhichregistered ClassAOrdinarySharesTIRXTheNasdaqStockMarketLLC SecuritiesregisteredortoberegisteredpursuanttoSection12(g)oftheAct: None (TitleofClass) SecuritiesforwhichthereisareportingobligationpursuanttoSection15(d)oftheAct: None TableofContents (TitleofClass) Indicatethenumberofoutstandingsharesofeachoftheissuer’sclassesofcapitalstockasofthecloseoftheperiodcoveredbytheannualreport. 2,527,200ClassAOrdinaryShares,parvalue$0.005pershare,and250,000ClassBOrdinaryShares,parvalue$0.005pershare,asofOctober31,2022. Indicatebycheckmarkiftheregistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct.Yes☐No☒ Ifthisreportisanannualortransitionreport,indicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934.Yes☐No☒ Indicatebycheckmarkwhethertheregistrant(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days.Yes☒No☐ IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyeveryInteractiveDataFilerequiredtobesubmittedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitsuchfiles).Yes☒No☐ Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,oranon-acceleratedfiler.Seedefinitionof“acceleratedfilerandlargeacceleratedfiler”inRule12b-2oftheExchangeAct.(Checkone): Largeacceleratedfiler ☐ Acceleratedfiler ☐ Non-acceleratedfiler ☒ Emerginggrowthcompany ☒ IfanemerginggrowthcompanythatpreparesitsfinancialstatementsinaccordancewithU.S.GAAP,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandards†providedpursuanttoSection13(a)oftheExchangeAct.☐ Indicatebycheckmarkwhichbasisofaccountingtheregistranthasusedtopreparethefinancialstatementsincludedinthisfiling: ☒U.S.GAAP☐InternationalFinancialReportingStandardsasissued☐Otherbythe InternationalAccountingStandardsBoard If“Other”hasbeencheckedinresponsetothepreviousquestion,indicatebycheckmarkwhichfinancialstatementitemtheregistranthaselectedtofollow:Item17☐Item18☐ Ifthisisanannualreport,indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b-2oftheExchangeAct).Yes◻No☒ Indicatebycheckmarkwhethertheregistranthasfiledareportonandattestationtoitsmanagement’sassessmentoftheeffectivenessofitsinternalcontroloverfinancialreportingunderSection404(b)oftheSarbanes-OxleyAct(15 U.S.C.7262(b))bytheregisteredpublicaccountingfirmthatpreparedorissueditsauditreport.☐ TableofContents TABLEOFCONTENTS INTRODUCTION1 FORWARD-LOOKINGINFORMATION2 PARTI3 ITEM1.IDENTITYOFDIRECTORS,SENIORMANAGEMENTANDADVISERS3 ITEM2.OFFERSTATISTICSANDEXPECTEDTIMETABLE3 ITEM3.KEYINFORMATION3 ITEM4.INFORMATIONONTHECOMPANY40 ITEM4A.UNRESOLVEDSTAFFCOMMENTS62 ITEM5.OPERATINGANDFINANCIALREVIEWANDPROSPECTS63 ITEM6.DIRECTORS,SENIORMANAGEMENTANDEMPLOYEES80 ITEM7.MAJORSHAREHOLDERSANDRELATEDPARTYTRANSACTIONS87 ITEM8.FINANCIALINFORMATION89 ITEM9.THEOFFERANDLISTING89 ITEM10.ADDITIONALINFORMATION90 ITEM11.QUANTITATIVEANDQUALITATIVEDISCLOSURESABOUTMARKETRISK101 ITEM12.DESCRIPTIONOFSECURITIESOTHERTHANEQUITYSECURITIES102 PARTII102 ITEM13.DEFAULTS,DIVIDENDARREARAGESANDDELINQUENCIES102 ITEM14.MATERIALMODIFICATIONSTOTHERIGHTSOFSECURITYHOLDERSANDUSEOFPROCEEDS102 ITEM15.CONTROLSANDPROCEDURES103 ITEM16A. AUDITCOMMITTEEFINANCIALEXPERT 105 ITEM16B. CODEOFETHICS 105 ITEM16C. PRINCIPALACCOUNTANTFEESANDSERVICES 105 ITEM16D. EXEMPTIONSFROMTHELISTINGSTANDARDSFORAUDITCOMMITTEES 105 ITEM16E. PURCHASESOFEQUITYSECURITIESBYTHEISSUERANDAFFILIATEDPURCHASERS 105 ITEM16F. CHANGEINREGISTRANT’