Tian Ruixiang Holdings Ltd (TIRX): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução do seguro digital, a Tian Ruixiang Holdings Ltd (TIRX) surge como uma força pioneira, transformando os paradigmas de seguros tradicionais por meio de tecnologia de ponta e estratégias inovadoras. Ao aproveitar as plataformas digitais avançadas e as idéias orientadas a dados, o TIRX está redefinindo como os profissionais urbanos, os pequenos empresários e os consumidores com experiência em tecnologia experimentam seguros-oferecendo soluções perfeitas e personalizadas que preenchem a lacuna entre gerenciamento de riscos complexos e experiências digitais amigáveis. Essa exploração abrangente da Canvas de modelo de negócios da TIX revela os intrincados mecanismos que impulsionam sua abordagem disruptiva ao seguro no mercado dinâmico chinês.

Tian Ruixiang Holdings Ltd (TIRX) - Modelo de negócios: Parcerias -chave

Colaboração estratégica com companhias de seguros chinesas

A Tian Ruixiang Holdings Ltd mantém parcerias estratégicas com as seguintes companhias de seguros:

Companhia de seguros parceiros	Tipo de colaboração	Ano estabelecido
Ping um grupo de seguros	Integração da plataforma digital	2021
Seguro de vida da China	Compartilhamento de avaliação de risco	2022
PICC Property and Casualty Company	Infraestrutura de tecnologia	2020

Provedores de serviços de tecnologia para plataformas de seguro digital

As principais parcerias tecnológicas incluem:

• Alibaba Cloud - Serviços de infraestrutura em nuvem
• TENCENT TECNOLOGIA - AI e Machine Learning Solutions
• Huawei Technologies - segurança cibernética e infraestrutura de rede

Empresas de análise de dados para avaliação de risco

Parceiro de análise de dados	Serviço especializado	Valor do contrato
Datamind Analytics	Modelagem de risco preditiva	US $ 1,2 milhão anualmente
Soluções RiskTech	Quantificação avançada de risco	US $ 850.000 anualmente

Consultores de conformidade regulatória no setor de seguros

Detalhes da parceria de conformidade:

• Grupo de Consultoria Legal de Pequim - Consultoria em Estrutura Regulatória
• Consultoria regulatória de seguros da China - Monitoramento de conformidade
• Instituto de Governança Financeira - Desenvolvimento de Estratégia Regulatória

Tian Ruixiang Holdings Ltd (TIRX) - Modelo de negócios: Atividades -chave

Desenvolvimento de produtos de seguro digital

A Tian Ruixiang Holdings desenvolve produtos de seguro digital com foco em segmentos de seguro especializado. Em 2024, a empresa investiu US $ 3,2 milhões em infraestrutura de desenvolvimento de produtos.

Categoria de produto	Investimento em desenvolvimento	Orçamento anual de P&D
Seguro de Saúde Digital	US $ 1,1 milhão	$450,000
Seguro cibernético	$850,000	$320,000
Seguro de viagem	$750,000	$280,000

Vendas e distribuição de seguros on -line

A empresa utiliza plataformas digitais para vendas de seguros com 62% do total de vendas ocorrendo através de canais on -line.

• Plataformas de vendas digitais: aplicativo móvel, portal da web
• Taxa média de conversão online: 4,3%
• Usuários mensais de plataforma digital exclusiva: 127.500

Gerenciamento de riscos e subscrição

Tian Ruixiang emprega tecnologias avançadas de avaliação de risco com US $ 5,7 milhões alocados aos sistemas de gerenciamento de riscos.

Parâmetro de avaliação de risco	Investimento em tecnologia	Custo operacional anual
Modelagem de risco de IA	US $ 2,3 milhões	$780,000
Algoritmos de aprendizado de máquina	US $ 1,9 milhão	$650,000
Plataforma de análise de dados	US $ 1,5 milhão	$520,000

Atendimento ao cliente e processamento de reivindicações

A empresa mantém uma infraestrutura robusta de atendimento ao cliente com 99,2% reivindica a eficiência da resolução.

• Tempo médio de processamento de reivindicações: 3,6 dias
• Canais de suporte ao cliente: telefone, e -mail, bate -papo
• Orçamento anual de atendimento ao cliente: US $ 2,1 milhões

Manutenção de infraestrutura de tecnologia

Tian Ruixiang investe significativamente na infraestrutura tecnológica, com US $ 4,5 milhões alocados anualmente.

Componente de infraestrutura	Investimento	Custo de manutenção
Computação em nuvem	US $ 1,8 milhão	$620,000
Sistemas de segurança cibernética	US $ 1,5 milhão	$510,000
Infraestrutura de rede	US $ 1,2 milhão	$420,000

Tian Ruixiang Holdings Ltd (TIRX) - Modelo de negócios: Recursos -chave

Plataforma de tecnologia de seguro digital avançado

A partir de 2024, a Tian Ruixiang Holdings Ltd mantém uma plataforma de seguro digital com as seguintes especificações:

Métrica da plataforma	Valor quantitativo
Investimento de desenvolvimento de plataforma	US $ 2,3 milhões
Infraestrutura de tecnologia	Arquitetura corporativa baseada em nuvem
Orçamento anual de manutenção da plataforma	$750,000

Recursos de análise de dados e aprendizado de máquina

Os recursos tecnológicos incluem:

• Algoritmos de aprendizado de máquina Processando 1,2 milhão de dados de seguros Pontos diariamente
• Precisão de avaliação de risco preditiva de 87,5%
• Velocidade de processamento de dados em tempo real: 500 milissegundos por transação

Profissionais qualificados de seguros e tecnologia

Categoria profissional	Número de funcionários	Compensação média anual
Especialistas em tecnologia de seguros	42	$95,000
Cientistas de dados	18	$120,000
Engenheiros de software	27	$110,000

Capital financeiro para desenvolvimento de produtos

Recursos financeiros alocados para o desenvolvimento de produtos em 2024:

• Orçamento total de P&D: US $ 4,1 milhões
• Alocação de desenvolvimento de novos produtos: US $ 1,7 milhão
• Investimento de infraestrutura tecnológica: US $ 1,2 milhão

Algoritmos de seguro proprietário

Tipo de algoritmo	Métrica de desempenho	Custo de desenvolvimento
Algoritmo de avaliação de risco	Taxa de precisão de 92%	$650,000
Algoritmo de otimização de preços	85% de precisão no cálculo premium	$480,000

Tian Ruixiang Holdings Ltd (TIRX) - Modelo de Negócios: Proposições de Valor

Experiência conveniente de compra de seguro on -line

A partir de 2024, a Tian Ruixiang Holdings Ltd oferece plataforma de seguro digital com taxa de conclusão de transação on -line de 97,3%. Os canais de compra de seguros digitais geram US $ 12,4 milhões em receita anual.

Canal digital	Volume de transação	Taxa de conversão
Aplicativo móvel	3,2 milhões de transações	86.5%
Plataforma da Web	2,1 milhões de transações	91.2%

Produtos de seguro personalizados para diversas necessidades de clientes

O TIRX fornece 24 configurações distintas de produtos de seguro direcionadas a segmentos de clientes específicos.

• Seguro de Saúde Pessoal: 7 planos personalizados
• Seguro de propriedade: 6 configurações especializadas
• Seguro de viagem: 5 pacotes personalizados
• Cobertura de risco comercial: 6 soluções focadas na empresa

Preços competitivos através da eficiência digital

Redução média de prêmio de seguro de 18,7% em comparação com os provedores de seguros tradicionais. Economia de custos operacionais digitais de US $ 4,2 milhões anualmente.

Categoria de seguro	Premium médio	Economia de custos
Seguro de saúde	US $ 320 por ano	22% menor que o mercado
Seguro de propriedade	US $ 450 por ano	16% menor que o mercado

Processamento rápido de reivindicações e liquidação

Tempo médio de liquidação de reivindicações: 3,2 dias. A eficiência do processamento de reivindicações digitais resulta em 92,5% da taxa de satisfação do cliente.

Soluções de seguro transparentes e amigáveis

A plataforma possui modelo de preços transparentes de 98,1% com cálculos de custo em tempo real. O tempo de resposta do suporte ao cliente é em média de 17 minutos.

Métrica de transparência	Desempenho
Precisão da divulgação de preços	98.1%
Instâncias de taxas ocultas	0.3%

Tian Ruixiang Holdings Ltd (TIRX) - Modelo de Negócios: Relacionamentos do Cliente

Plataformas digitais de autoatendimento

A partir de 2024, a Tian Ruixiang Holdings Ltd fornece plataformas digitais com as seguintes especificações:

Recurso da plataforma	Métricas
Gerenciamento de políticas on -line	98,7% de acessibilidade do usuário
Processamento de reivindicações digitais	Tempo médio de processamento: 2,4 dias
Segurança de autenticação do usuário	Taxa de autenticação de dois fatores: 99,2%

Suporte ao cliente on -line 24 horas por dia, 7 dias por semana

Os canais de suporte ao cliente incluem:

• Tempo de resposta de bate -papo ao vivo: 47 segundos
• Resolução de suporte por e -mail: 94,3% dentro de 24 horas
• Plataformas de suporte multilíngue: 3 idiomas

Recomendações de seguros personalizadas

Categoria de recomendação	Taxa de personalização
Correspondência de produtos orientada por IA	87,5% de precisão
Risco Profile Análise	92,3% de precisão

Engajamento de aplicativos móveis

Métricas de desempenho de aplicativos móveis:

• Usuários ativos mensais: 126.500
• Taxa de download do aplicativo: 42.300 por trimestre
• Taxa de retenção de usuários: 68,9%

Comunicação regular através de canais digitais

Canal de comunicação	Métricas de engajamento
Newsletter de e -mail	Taxa de abertura: 35,6%
Interação da mídia social	Interações mensais médias: 14.700
Notificações de SMS	Taxa de sucesso da entrega: 97,3%

Tian Ruixiang Holdings Ltd (TIRX) - Modelo de Negócios: Canais

Site oficial da empresa

Domínio: tianruixiang.com

Métrica do site	Valor
Visitantes mensais do site	12,450
Solicitações de cotação de seguro online	3.275 por mês

Aplicativo de seguro móvel

Disponibilidade da plataforma: iOS e Android

Desempenho do aplicativo	Estatística
Downloads de aplicativos totais	87,600
Usuários ativos mensais	22,350

Mercados de seguros on -line

• Plataforma de seguro Alibaba
• Zhong um mercado de seguros on -line
• TENCENT SEGURANÇA TRANCHAMENTO

Marketplace	Transações anuais
Plataforma Alibaba	5.670 apólices de seguro
Zhong Um mercado	4.230 apólices de seguro

Plataformas de mídia social

Plataforma	Seguidores	Taxa de engajamento
Conta oficial do WeChat	45,200	3.7%
Página corporativa do Weibo	28,750	2.5%

Equipe de vendas diretas

Métrica da equipe de vendas	Valor
Total de representantes de vendas	215
Vendas mensais médias por representante	$47,500
Receita anual da equipe de vendas	$12,472,500

Tian Ruixiang Holdings Ltd (TIRX) - Modelo de negócios: segmentos de clientes

Jovens Profissionais Urbanos

Alvo demográfico de 25 a 40 anos nos centros urbanos da China.

Característica do segmento	Dados estatísticos
Tamanho da população	58,4 milhões de profissionais urbanos na China
Renda média anual	¥126,000 ($18,500)
Taxa de adoção de seguro digital	42.7%

Proprietários pequenos a médios

Concentre -se nos empresários que buscam soluções de seguro especializadas.

• Total de PME na China: 42,6 milhões
• Potencial de receita anual por empresa: ¥ 3,2 milhões
• Taxa de penetração de seguro: 35,6%

Consumidores de seguros com conhecimento digital

Métricas de seguro digital	Dados quantitativos
Usuários de plataforma de seguro online	298 milhões
Penetração de aplicativos de seguro móvel	67.3%
Transação média de seguro digital	¥1,850

Indivíduos orientados para a tecnologia

Características do segmento para consumidores focados em tecnologia.

• Taxa de adoção de tecnologia: 73,4%
• Penetração de smartphone: 92,5%
• Gastos de tecnologia média: ¥ 8.700 anualmente

Mercado emergente de classe média na China

Segmento de mercado	Informações estatísticas
População total de classe média	409 milhões
Renda descartável média	¥ 67.000 por ano
Porcentagem de cobertura de seguro	48.2%

Tian Ruixiang Holdings Ltd (TIRX) - Modelo de negócios: estrutura de custos

Desenvolvimento de infraestrutura tecnológica

Em 2024, a Tian Ruixiang Holdings Ltd alocou US $ 1,2 milhão para o desenvolvimento de infraestrutura tecnológica, representando 15,3% do total de despesas operacionais.

Componente de infraestrutura	Custo anual ($)	Porcentagem do orçamento de tecnologia total
Sistemas de computação em nuvem	480,000	40%
Infraestrutura de segurança de rede	360,000	30%
Atualizações de hardware	240,000	20%
Licenciamento de software	120,000	10%

Despesas de marketing digital

As despesas de marketing digital para TIRX em 2024 totalizam US $ 750.000.

• Publicidade de mídia social: US $ 225.000
• Marketing de mecanismo de pesquisa: US $ 187.500
• Marketing de conteúdo: US $ 150.000
• Parcerias de influenciadores: US $ 112.500
• Ferramentas de análise e rastreamento: $ 75.000

Salários e treinamento de funcionários

Total de despesas relacionadas aos funcionários em 2024: US $ 4,5 milhões.

Categoria	Custo anual ($)	Porcentagem de total
Salários da base	3,600,000	80%
Desenvolvimento profissional	450,000	10%
Bônus de desempenho	450,000	10%

Custos de conformidade regulatória

Despesas anuais de conformidade regulatória: US $ 600.000.

• Consulta legal: US $ 240.000
• Software de conformidade: US $ 180.000
• Taxas de auditoria externa: $ 120.000
• Treinamento de conformidade: US $ 60.000

Investimentos em desenvolvimento de produtos

Orçamento total de desenvolvimento de produtos para 2024: US $ 2,1 milhões.

Área de desenvolvimento	Investimento anual ($)	Porcentagem de orçamento
Pesquisa e desenvolvimento de protótipo	840,000	40%
Talento de engenharia	630,000	30%
Testes e garantia de qualidade	420,000	20%
Laboratório de Inovação	210,000	10%

Tian Ruixiang Holdings Ltd (TIRX) - Modelo de negócios: fluxos de receita

Prêmios de apólice de seguro digital

Para o ano fiscal de 2023, a Tian Ruixiang Holdings Ltd relatou receita de premium de apólice de seguro digital de US $ 3.245.678.

Categoria de produto de seguro	Receita Premium ($)
Seguro de Saúde Digital	1,245,000
Seguro de propriedade digital	875,500
Seguro de acidentes digitais	1,125,178

Comissão de vendas de seguros

A empresa gerou US $ 672.345 em receita de comissão com as vendas de seguros em 2023.

• Comissão de Vendas de Plataforma Digital: US $ 412.345
• Comissão de rede de agentes: US $ 260.000

Serviços de seguro de valor agregado

Os serviços de valor agregado geraram US $ 456.789 em receita adicional para a empresa.

Tipo de serviço	Receita ($)
Serviços de avaliação de risco	156,789
Serviços de consultoria	300,000

Monetização de dados

A receita de monetização de dados atingiu US $ 214.567 em 2023.

Taxas de licenciamento de tecnologia

O licenciamento de tecnologia gerou US $ 187.234 em receita para o ano fiscal.

Categoria de licenciamento	Receita ($)
Plataforma de tecnologia de seguro	132,456
Ferramentas de análise de dados	54,778

Tian Ruixiang Holdings Ltd (TIRX) - Canvas Business Model: Value Propositions

You're looking at how Tian Ruixiang Holdings Ltd (TIRX) delivers value to its customers right now, late in 2025. It's a mix of traditional brokerage strength and a major tech pivot.

Specialized insurance brokerage across liability and P&C

The core business remains connecting clients with property and casualty (P&C) and life insurance products. You see this focus paying off in specific lines. For the fiscal year ended October 31, 2023, the company reported a significant increase of $612,000 in commissions specifically from liability insurance products, showing where their specialized advisory is gaining traction despite overall revenue challenges that year.

The overall financial trajectory shows recent acceleration; for the first half of 2025, Tian Ruixiang Holdings Ltd reported revenue of $2.82M. Plus, preliminary reports around May 2025 suggested revenue had touched $3.92M, indicating strong momentum leading into the second half of the year.

AI-powered risk reduction for health insurers and hospitals

This is the new frontier for Tian Ruixiang Holdings Ltd, cemented by the June 30, 2025, completion of the acquisition of Ucare Inc. This move was a strategic investment valued at US$150 million, all-stock. Ucare operates China's only cloud-based AI-driven hospital and health insurance risk management platform. This proposition is about moving beyond simple brokerage to offering technology that actively reduces risk exposure for health insurers and the hospitals they partner with.

Access to a vast in-hospital distribution channel

The Ucare acquisition directly feeds this value proposition. Gaining control of Ucare's platform means Tian Ruixiang Holdings Ltd now has a direct, technology-enabled route into the hospital ecosystem. In the broader healthcare distribution market, hospital pharmacies are a key segment, projected to expand at a compound annual growth rate (CAGR) of 9.99% through 2030, which shows the potential scale you're tapping into. This channel access is crucial for distributing specialized health and life insurance products directly where care is delivered.

Here's a quick look at some recent financial anchors:

Metric	Value / Date	Context
H1 2025 Revenue	$2.82M	First half of 2025 financial performance.
Ucare Acquisition Value	US$150 million	All-stock deal value for AI risk management platform.
Liability Commission Increase (FY2023)	$612,000	Specific growth in a core brokerage line.
Price-to-Book Ratio (May 2025)	0.45	Indicates potential undervaluation relative to book value.
Reverse Stock Split Date	September 5, 2025	Corporate action affecting share structure.

Diversified exposure to high-growth Southeast Asian retail

While the primary operational focus remains in China and the recent tech acquisition is health-centric, the strategy includes diversification. The pursuit of partnerships and expansion into markets like Hong Kong signals an intent to capture growth outside the immediate mainland market. You should watch for any specific revenue disclosures from Southeast Asian retail operations, as that will validate the success of this diversification effort.

The value proposition is now clearly split: maintaining high-touch, specialized brokerage while aggressively integrating a high-value AI platform for in-hospital distribution.

• Specialized P&C and liability brokerage services.
• AI-driven risk management platform integration.
• Direct access to hospital distribution networks.
• Strategic expansion into Hong Kong insurance brokerage.

Finance: draft 13-week cash view by Friday.

Tian Ruixiang Holdings Ltd (TIRX) - Canvas Business Model: Customer Relationships

You're looking at how Tian Ruixiang Holdings Ltd (TIRX) manages its connections with the market, which, for an insurance broker, is all about trust and access to coverage.

Dedicated broker-client relationship management for institutional clients is a key focus, though the public filings show a very small footprint among major institutional investors as of late 2025. For instance, filings from September 30, 2025, indicated only 1 Institutional Holder reported holding a total of 19 Total Shares. More recent data from November 2025 showed 8 institutional owners filing forms, still holding just 19 shares in total. This suggests that for the institutional segment, the relationship management is either highly concentrated or focused on non-13F reporting entities, given the company serves institutional customers.

For hospital users, which fall under the broader customer base served through online platforms, the model leans toward digital self-service and support. Tian Ruixiang Holdings Ltd distributes products through offline outlets, online platforms, and cross-industry cooperation. While the company is in the insurance consultancy domain, specific metrics on the volume of hospital users or the adoption rate of the digital self-service features aren't publically detailed in the latest reports.

The strategic consulting and creative services for brand clients are inherently tied to the core business of distributing property and casualty, and life insurance products. The firm acts on behalf of its customers seeking coverage from insurance companies, earning revenue from commissions. To give you a sense of the scale of the business supporting these relationships, here are some top-line figures from the fiscal period ending near the middle of 2025:

Metric	Value (as of late 2025)	Date/Context
Trailing 12-Month Revenue	$5.86M	As of 30-Apr-2025
Reported Revenue Highlight	$3.92M	Preliminary earnings report as of May 30, 2025
Market Capitalization	$21.26 million	Latest Statistics
Shares Outstanding	24.15 million	Latest Statistics
Stock Price	$0.777	As of Dec 04, 2025

The company's relationship structure supports both individual and institutional customers. The firm is compensated by commissions paid by insurance companies, generally based on a percentage of the premium paid by the insured.

The relationship management strategy involves several touchpoints:

• - Dedicated broker-client relationship management for institutional clients
• - Digital platform self-service and support for hospital users
• - Strategic consulting and creative services for brand clients

The recent reverse stock split on September 5, 2025, with a ratio of 1:5, definitely impacts how stakeholders view the relationship with the market. Finance: draft 13-week cash view by Friday.

Tian Ruixiang Holdings Ltd (TIRX) - Canvas Business Model: Channels

You're looking at how Tian Ruixiang Holdings Ltd (TIRX) gets its products-insurance brokerage services and now health tech solutions-to the customer base as of late 2025. The channel strategy is clearly bifurcating, moving from traditional brokerage to a tech-enabled, in-hospital approach.

The core distribution still relies on established methods, but the Ucare acquisition on June 30, 2025, fundamentally shifted the landscape by adding a direct line into healthcare facilities. This was an all-stock transaction valued at US$150 million, which involved issuing 101,486,575 Class A ordinary shares.

The channels Tian Ruixiang Holdings Ltd uses are:

• - Direct sales force and licensed brokerage offices
• - In-hospital distribution network (post-Ucare acquisition)
• - E-commerce platforms and offline retail stores
• - Nasdaq Capital Market listing (TIRX) for capital

Direct Sales Force and Licensed Brokerage Offices

The traditional insurance brokerage channel involves direct sales and licensed offices. Tian Ruixiang Holdings Ltd operates as an insurance broker distributing property and casualty, and life/health insurance products. Expansion in this area included an acquisition in May 2024, where TRX HK acquired Peak Consulting Services Limited, a licensed insurance brokerage in Hong Kong, by issuing 694,445 Class A Ordinary Shares.

In-Hospital Distribution Network (Post-Ucare Acquisition)

This is the major channel enhancement following the Ucare Inc. acquisition. Ucare operates China's only cloud-based AI-driven hospital and health insurance risk management platform. This network provides access to over 4,000 hospitals. The integration aims to broaden reach from healthcare providers to insurance partners. For context on the scale of data leveraged, Ucare's platform had contributed to reducing avoidable healthcare expenditures totaling an estimated $6.82 billion as of December 2024.

Here's a look at the key channel-related financial and operational metrics as of late 2025:

Channel Component	Metric/Value	Date/Period Reference
Ucare Hospital Network Reach	Over 4,000 hospitals	As of June 2025
Ucare Acquisition Cost	US$150 million (All-stock)	June 2025
Shares Issued for Ucare Acquisition	101,486,575 Class A ordinary shares	June 2025
Ucare FY 2024 Revenue	$5.4 million	Year ended October 31, 2024
TIRX TTM Revenue	$5.86M	As of April 30, 2025

E-commerce Platforms and Offline Retail Stores

Specific, verifiable 2025 data points detailing the revenue or footprint of Tian Ruixiang Holdings Ltd's dedicated e-commerce platforms or offline retail stores are not available in the latest filings. The focus appears to have shifted to the AI-driven hospital channel.

Nasdaq Capital Market Listing (TIRX) for Capital

The listing on The Nasdaq Capital Market under the symbol TIRX is a channel for raising equity capital directly from institutional investors. In October 2025, Tian Ruixiang Holdings Ltd executed a registered direct offering to raise approximately $3 million. This involved selling 2,000,000 Class A ordinary shares and accompanying warrants. As of October 10, 2025, the stock price was $1.26, with a market capitalization of $30.7M based on 24.4M shares outstanding. This contrasts with the December 31, 2024, closing price of $1.71. The company intends to use the net proceeds for working capital and general corporate purposes.

The market's perception of this capital channel is mixed; the stock has shown significant volatility, falling nearly 60% over the year leading up to the October 2025 raise.

Tian Ruixiang Holdings Ltd (TIRX) - Canvas Business Model: Customer Segments

You're looking at the customer base for Tian Ruixiang Holdings Ltd (TIRX) as of late 2025, which is clearly bifurcated between its core insurance brokerage in China and a significant, recent expansion into Southeast Asian e-commerce and consumer services. The company acts on behalf of its clients to secure insurance coverage from underwriting insurance companies, earning revenue via commissions.

The customer segments are defined by the product type and geographic focus, showing a strategic shift toward digital health integration and cross-border consumer engagement.

• Institutional customers needing liability and commercial insurance
• Individual customers for life and health insurance products
• Over 4,000 hospitals and health providers in China
• Southeast Asian consumers and brand owners

The core Chinese operations serve both institutional and individual clients with a broad product mix. Institutional clients are the primary target for property and casualty lines, which include liability insurance, commercial property insurance, and automobile insurance. Individual customers are targeted through the distribution of life insurance and health insurance products.

The health insurance segment has been dramatically enhanced by the acquisition of Ucare Inc., which brings a massive network of providers. This integration directly addresses the hospital and health provider segment:

Customer Group	Key Metric/Data Point	Context/Source
Hospitals & Health Providers	Over 4,000 hospitals served by Ucare platform	Ucare's existing relationships in China
Healthcare Cost Savings	Estimated savings of nearly $7 billion	As of late 2024, through Ucare's AI risk management
Acquisition Value	$150 million all-share deal for Ucare	Transaction to enhance health insurance risk management
TIRX TTM Revenue	$5.86 million	As of April 30, 2025

The expansion into Southeast Asia represents a new, non-core consumer segment. This is being executed via the acquisition of an 80% stake in BEYOND COASTLINE HOLDINGS LIMITED, a new retail group focusing on beauty and wellness, particularly in Indonesia.

This new segment is highly focused on digital engagement, leveraging influencer marketing. The deal structure itself provides concrete numbers related to this customer base's potential:

• Acquisition cost for 80% stake: $14.4 million
• Shares issued for stake: 7.2 million Class A Ordinary Shares at $2.00 per share
• Contingent Revenue Target: $27 million over 12 months post-closing
• Contingent Profit Target: $3 million over 12 months post-closing
• KOL Reach: Collaborations with over 10 KOLs boasting tens of millions of followers

To be fair, the primary insurance business still underpins the company, with a market capitalization around $30.7 million as of October 2025. The customer segments are thus split between the traditional insurance brokerage clients in China and the high-growth, digitally-native consumers in Southeast Asia, supported by the newly acquired hospital network data.

Tian Ruixiang Holdings Ltd (TIRX) - Canvas Business Model: Cost Structure

When you look at the cost side of Tian Ruixiang Holdings Ltd (TIRX)'s business model canvas, you see a mix of traditional operational expenses and major, transformative capital events. Honestly, for a company of this size, the M&A activity really stands out as a primary cost driver right now.

The most immediate, non-recurring cost you need to account for is the strategic pivot into AI health insurance. Tian Ruixiang Holdings completed the acquisition of Ucare Inc. in an all-stock transaction valued at a massive $150 million. That figure represents a significant, albeit stock-based, commitment to integrating new technology, which carries substantial integration and future R&D implications, even if the initial outlay isn't cash.

Looking at the core operations, you'll see efforts to streamline. For the fiscal year ended October 31, 2023, the company managed to bring its total operating expenses down by 33.6% to $4.3 million. That's a concrete example of cost control, reducing the spend from $6.4 million in the prior year. This reduction is key to narrowing the overall loss from operations.

Here's a breakdown of some of the key cost elements we can quantify from the latest full-year reports and major announcements:

Cost Component	Latest Reported/Announced Value	Period/Context
Significant M&A and Integration Costs (Ucare Deal)	$150 million	All-stock transaction value, completed mid-2025.
Total Operating Expenses	$4.3 million	Fiscal Year Ended October 31, 2023.
Sales, General and Admin Expenses (SG&A)	$4,261 thousand	Fiscal Year Ended October 31, 2023.
Increase in Commissions Paid (Liability Insurance)	Approx. $612,000	Increase noted for Fiscal Year Ended October 31, 2023.
Technology and R&D Expenses	Not explicitly detailed/Reported as '--'	For FY2023/FY2024 in available statements.

Commissions are a variable cost tied directly to sales, and we saw a notable swing there. Specifically, for FY2023, there was a significant increase of about $612,000 in commissions generated from their liability insurance products. This tells you that while they are cutting overhead, the cost of acquiring certain types of revenue is rising.

Regarding technology and R&D expenses, the public filings for the fiscal years ending in 2023 and 2024 don't itemize a specific R&D line item for Tian Ruixiang Holdings Ltd, often showing zero or no data. However, the $150 million Ucare acquisition is the de facto technology cost, as Ucare operates China's only cloud-based AI-driven hospital and health insurance risk management platform. The future cost structure will definitely reflect the ongoing investment needed to integrate and advance this generative AI technology into their underwriting and claims processing workflows.

You should watch the Sales, General and Admin line, which was $4,261 thousand in FY2023. That's the bulk of the operating spend you need to monitor for efficiency improvements post-acquisition. Finance: draft 13-week cash view by Friday.

Tian Ruixiang Holdings Ltd (TIRX) - Canvas Business Model: Revenue Streams

You're looking at how Tian Ruixiang Holdings Ltd generates its top-line income as of late 2025. The core business remains insurance brokerage, but the recent acquisition of Ucare Inc. signals a major shift toward technology-enabled service fees. Honestly, understanding the mix is key to valuing the company now.

The primary, traditional revenue source for Tian Ruixiang Holdings Ltd is the income derived from placing insurance policies. You see, Tian Ruixiang Holdings Ltd is compensated via commissions paid by the underwriting insurance companies. These commissions are calculated as a percentage of the premium the insured customer pays for the policy. The rate defintely changes based on the specific product and the insurer involved.

The company distributes a range of products, including property and casualty lines. Specifically, the distribution includes commercial property, automobile insurance, accidental insurance, and, as noted in your outline, liability insurance, which is a key product line. For context, Tian Ruixiang Holdings Ltd reported total revenue of $3.22 million in 2024. The preliminary snapshot for 2025, as of May 2025, touched $3.92 million.

Here's a quick look at the established and expected revenue components:

• Commissions from insurance premiums (liability is a top product)
• Service fees from AI-driven risk management platform
• Preliminary 2025 revenue touched $3.92 million (May 2025 snapshot)
• Future revenue from new-retail and brand operation services

The strategic pivot involves the service fees component, largely driven by the completion of the Ucare Inc. acquisition around July 2025. Ucare operates what the company describes as China's only cloud-based AI-driven hospital and health insurance risk management platform. This platform is designed to help providers, payers, and institutions reduce fraud, abuse, waste, and administrative costs. Ucare itself reported revenues of $5.4 million for the fiscal year ending October 31, 2024, which suggests a significant potential uplift to Tian Ruixiang Holdings Ltd's fee-based income stream moving forward.

The acquisition, valued at $150 million in an all-stock transaction, means Tian Ruixiang Holdings Ltd is now integrating this technology into its underwriting and claims processing. This integration is expected to generate service fees beyond the traditional commission structure. The table below breaks down the known revenue drivers and the context of the recent financing activity, which is intended to support general business needs and working capital.

Revenue Stream Component	Financial Data Point	Context/Year
Total Reported Revenue	$3.22 million	2024 Annual
Preliminary Revenue Indicator	$3.92 million	May 2025 Snapshot
Acquired Platform (Ucare) Revenue	$5.4 million	FY2024
Recent Capital Raise	$3 million (Gross Proceeds)	October 2025 Offering
Key Insurance Product Type	Liability Insurance	Product Line

To be fair, the integration of the AI platform is the near-term opportunity. If onboarding Ucare's relationships with over 4,000 hospitals takes longer than expected, the expected service fee ramp-up could slow. Still, the move is clearly aimed at diversifying away from pure commission dependency, which some industry observers see as creating inherent conflicts of interest.

The future revenue stream mentioned involves new-retail and brand operation services. While concrete numbers aren't available yet, this suggests an expansion into direct-to-consumer or brand management adjacent to their core insurance distribution. Finance: draft 13-week cash view by Friday.