TOP Financial Group Ltd Files 2024 Annual Report

TL;DR

TOP Financial Group Ltd filed its 2024 20-F, covering its fiscal year ending March 31.

AI Summary

TOP Financial Group Ltd filed its annual report on Form 20-F for the fiscal year ended March 31, 2024. The company, formerly known as Zhong Yang Financial Group Ltd, is incorporated in E9 and headquartered in Hong Kong. The filing indicates its primary business is in the Security & Commodity Brokers, Dealers, Exchanges & Services sector.

Why It Matters

This filing provides investors and stakeholders with the company's official financial performance and operational overview for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a financial services company, it operates in a regulated industry with inherent market and credit risks, and its 20-F filing is a standard disclosure for public companies.

Key Numbers

• 0331 — Fiscal Year End (Indicates the end of the reporting period for financial statements.)
• 001-41407 — SEC File Number (Unique identifier for the company's filings with the SEC.)

Key Players & Entities

• TOP Financial Group Ltd (company) — Filer of the 20-F
• Zhong Yang Financial Group Ltd (company) — Former name of TOP Financial Group Ltd
• March 31, 2024 (date) — Fiscal year end date
• 001-41407 (dollar_amount) — SEC file number
• Hong Kong (location) — Business and mailing address city

FAQ

Key Financial Figures

• $0.001 — registered Ordinary shares, par value $0.001 per share TOP The Nasdaq Stock Market L
• $7.8259 — were made at a year-end spot rate of HK$7.8259 to US$1.00 or an average rate of HK$7.8
• $1.00 — a year-end spot rate of HK$7.8259 to US$1.00 or an average rate of HK$7.8246 to US$1
• $7.8246 — 8259 to US$1.00 or an average rate of HK$7.8246 to US$1.00 for the fiscal year ended Ma
• $7.8499 — 31, 2024, at a year-end spot rate of HK$7.8499 to US$1.00 or an average rate of HK$7.8
• $7.8389 — 8499 to US$1.00 or an average rate of HK$7.8389 to US$1.00 for the fiscal year ended Ma
• $7.8325 — 2023, and at a year-end spot rate of HK$7.8325 to US$1.00 and an average rate for HK$7
• $7.7844 — 25 to US$1.00 and an average rate for HK$7.7844 to US$1.00 for the fiscal year ended Ma
• $2.3 million — ital of HKD 18,000,000 (approximately US$2.3 million). ZYSL is a limited liability corporati
• $0.6 million — pital of HKD 5,000,000 (approximately US$0.6 million). ZYCL is a limited liability corporati
• $6 million — n July 21, 2021. WIN100 WEALTH borrowed $6 million from TGFL in the form of intra-company
• $3.9 million — CL declared interim cash dividends of HK$3.9 million (approximately US$0.5 million) and HK$1
• $0.5 million — ends of HK$3.9 million (approximately US$0.5 million) and HK$1.5 million (approximately US$0
• $1.5 million — on (approximately US$0.5 million) and HK$1.5 million (approximately US$0.2 million), respect
• $0.2 million — on) and HK$1.5 million (approximately US$0.2 million), respectively, to the then sole shareh

Filing Documents

• ea0210143-20f_topfinan.htm (20-F) — 2017KB
• ea021014301ex2-1_topfinan.htm (EX-2.1) — 75KB
• ea021014301ex4-15_topfinan.htm (EX-4.15) — 141KB
• ea021014301ex8-1_topfinan.htm (EX-8.1) — 9KB
• ea021014301ex12-1_topfinan.htm (EX-12.1) — 9KB
• ea021014301ex12-2_topfinan.htm (EX-12.2) — 10KB
• ea021014301ex13-1_topfinan.htm (EX-13.1) — 4KB
• ea021014301ex13-2_topfinan.htm (EX-13.2) — 4KB
• ea021014301ex15-1_topfinan.htm (EX-15.1) — 2KB
• ea021014301ex97-1_topfinan.htm (EX-97.1) — 27KB
• image_001.jpg (GRAPHIC) — 112KB
• image_002.jpg (GRAPHIC) — 112KB
• image_003.jpg (GRAPHIC) — 91KB
• image_004.jpg (GRAPHIC) — 57KB
• image_005.jpg (GRAPHIC) — 54KB
• image_006.jpg (GRAPHIC) — 112KB
• ex4-15_001.jpg (GRAPHIC) — 5KB
• ex4-15_002.jpg (GRAPHIC) — 3KB
• ex15-1_001.jpg (GRAPHIC) — 6KB
• 0001013762-24-002682.txt ( ) — 8793KB
• top-20240331.xsd (EX-101.SCH) — 61KB
• top-20240331_cal.xml (EX-101.CAL) — 45KB
• top-20240331_def.xml (EX-101.DEF) — 278KB
• top-20240331_lab.xml (EX-101.LAB) — 478KB
• top-20240331_pre.xml (EX-101.PRE) — 272KB
• ea0210143-20f_topfinan_htm.xml (XML) — 662KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934). Yes No (APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS) Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes No Table of Contents Page PART I Item 1. Identity of Directors, Senior Management and Advisers 1 Item 2. Offer Statistics and Expected Timetable 1 Item 3. Key Information 1 Item 4. Information on the Company 39 Item 4A. Unresolved Staff Comments 75 Item 5. Operating and Financial Review and Prospects 76 Item 6. Directors, Senior Management and Employees 96 Item 7. Major Shareholders and Related Party Transactions 103 Item 8. Financial Information 103 Item 9. The Offer and Listing 105 Item 10. Additional Information 105 Item 11. Quantitative and Qualitative Disclosures About Market Risk 114 Item 12. Description of Securities Other than Equity Securities 115 PART II Item 13. Defaults, Dividend Arrearages and Delinquencies 116 Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds 116 Item 15. Controls and Procedures 117 Item 16 [Reserved] 118 Item 16A. Audit Committee Financial Expert 118 Item 16B. Code of Ethics 118 Item 16C. Principal Accountant Fees and Services 119 Item 16D. Exemptions from the Listing Standards for Audit Committees 119 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 119 Item 16F. Change in Registrant's Certifying Accountant 119 Item 16G. Corporate Governance 120 Item 16H. Mine Safety Disclosure 120

View Full Filing

View this 20-F filing on SEC EDGAR