Eastern Bell Entities and Li Yan's Ownership in TIAN RUIXIANG Holdings Ltd

The SEC filing details the ownership of Class A ordinary shares in TIAN RUIXIANG Holdings Ltd by Eastern Bell International XXVII Limited and related entities, including Eastern Bell Capital Fund II, L.P., Eastern Bell Capital II Limited, Yan Capital Limited, and Li Yan. Eastern Bell International XXVII Limited directly holds 14,595,114 Class A ordinary shares, representing 12.09% of the total outstanding shares as of June 30, 2025. Li Yan, through his ownership in Yan Capital Limited, indirectly controls these shares. The filing includes a joint filing agreement under Rule 13d-1(k) of the Securities Exchange Act of 1934, signed by all reporting entities and Li Yan, confirming their joint filing of the Schedule 13D. The filing emphasizes that the shares were not acquired for the purpose of influencing the control of the issuer.