# EDGAR Filing Document

**Accession Number:** 0001782941
**File Stem:** 0001354457-26-000623
**Filing Date:** 2026-6
**Character Count:** 6029
**Document Hash:** b7a5ca875b70fdfcf487f54110018584
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001354457-26-000623.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0001354457-26-000623

**CONFORMED SUBMISSION TYPE**: 25-NSE

**CONFIRMING COPY**: 

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TIAN RUIXIANG HOLDINGS LTD
- **CENTRAL INDEX KEY:** 0001782941
- **STANDARD INDUSTRIAL CLASSIFICATION:** INSURANCE AGENTS BROKERS & SERVICES [6411]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 25-NSE
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-39925

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 2107, SHOUDONG INTERNATIONAL BUILDING
- **STREET 2:** DONGCHENG DISTRICT
- **CITY:** BEIJING
- **PROVINCE COUNTRY:** F4
- **ZIP:** 100000
- **BUSINESS PHONE:** 01087529409

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 2107, SHOUDONG INTERNATIONAL BUILDING
- **STREET 2:** DONGCHENG DISTRICT
- **CITY:** BEIJING
- **PROVINCE COUNTRY:** F4
- **ZIP:** 100000
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nasdaq Stock Market LLC
- **CENTRAL INDEX KEY:** 0001354457

**ORGANIZATION NAME:**
- **EIN:** 521165937
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 25-NSE

**BUSINESS ADDRESS:**
- **STREET 1:** One Liberty Plaza
- **CITY:** New York
- **STATE:** NY
- **ZIP:** 10006
- **BUSINESS PHONE:** 301-978-4144

**MAIL ADDRESS:**
- **STREET 1:** Office of General Counsel
- **STREET 2:** 805 King Farm Blvd.
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** The Nasdaq Stock Market LLC
- **DATE OF NAME CHANGE:** 20060224

## Exhibit 99.25

```

Delisting Determination, The Nasdaq Stock Market, LLC, May 11, 2026
TIAN RUIXIANG Holdings Ltd
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the Class A Ordinary Shares of TIAN RUIXIANG Holdings Ltd
effective at the opening of the trading session on July 6, 2026.
Based on review of information provided by the Company, Nasdaq Staff
determined that the Company no longer qualified for listing on the
Exchange pursuant to Listing Rule 5550(a)(2).The Company was
notified of the Staff determination on January 20, 2026.
On January 22, 2026 the Company exercised its right to appeal
the Staff determination to the Listing Qualifications Hearings
Panel (Panel) pursuant to Listing Rule 5815.
On February 17, 2026 the hearing was held.
Additionally, Nasdaq Staff determined that the Company no longer
qualified for listing on the Exchange pursuant to
Listing Rule 5810(c)(3)(A)(iii).
The Company was notified of the Staff determination on March 3, 2026.
The Company Class A Ordinary Shares were suspended on March 5, 2026.
On March 11, 2026 the Panel reached a decision and a
Decision letter was issued on March 12, 2026.
The Company Class A Ordinary Shares were to
remain suspended from the Exchange.
The Staff determination to delist the Company
Class A Ordinary Shares became final on April 27, 2026.

```

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 25

### NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

**Commission File Number:** 001-39925

|  |  |
|:---|:---|
| Issuer:                                                                                                             | TIAN RUIXIANG HOLDINGS LTD                     |
| Exchange:                                                                                                           | Nasdaq Stock Market LLC                        |
| (Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered) |  |
| Address:                                                                                                            | 21A Jingyuan Art Center, Beijing, CHINA, 00000 |
| Telephone number:                                                                                                   | (010) 87529554                                 |
| (Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)   |  |
| (Description of class of securities)                                                                                | Class A Ordinary Shares                        |

---

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

- [ ] 17 CFR 240.12d2-2(a)(1)
- [ ] 17 CFR 240.12d2-2(a)(2)
- [ ] 17 CFR 240.12d2-2(a)(3)
- [ ] 17 CFR 240.12d2-2(a)(4)
- [x] Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange.
- [ ] Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d2-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

---

Pursuant to the requirements of the Securities Exchange Act of 1934, Nasdaq Stock Market
LLC certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing the Form 25 and has caused this notification to be signed on its
behalf by the undersigned duly authorized person.

| Date       | By   | Name          | Title            |
|:---|:---|:---|:---|
| 2026-06-26 |  | Aravind Menon | Hearings Advisor |

Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR
240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number.