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TOP Financial Group Limited

Company price
13.25 USD 1.42 ( 12.00%)
Last update at 2026-11-06T21:27:00Z
VOLUME
139423
Market Cap
1890.22M

Momentum Score

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TOP Financial Group Limited, through its subsidiaries, operates as an online brokerage company in Hong Kong. It is involved in the trading of equities, futures, and options products; and the provision of brokerage and value-added services, including trade order placement and execution, account management, and customer support services. The company also provides a range of futures products, such as index, forex, agricultural product, energy, and precious metal futures; and operates as an escrow agent in transactions relating to securities sales and transfers. In addition, it offers stock and options brokerage, structured note subscriber, consulting, currency exchange, margin financing, OTC derivative trading, and loan services. The company was formerly known as Zhong Yang Financial Group Limited and changed its name to TOP Financial Group Limited in July 2022. TOP Financial Group Limited was founded in 2015 and is headquartered in Singapore.

Source: TradingView
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Day Price Range
11.17
Low
13.38
High
52 Week Price Range
3.06
Low
17.42
High

Momentum Score

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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Public disclosures for Zhong Yang Financial Group Limited (NASDAQ: TOP) are limited, making its operating scope and financial profile difficult to verify. The company’s name indicates a focus on financial services and it may benefit from long-term growth and digitization in Chinese financial markets, which could support fee income and business expansion and may attract investors seeking China financial-sector exposure.
Material risks include limited transparency and scarce public information, low trading liquidity, regulatory and geopolitical exposure related to China, and execution and financial-reporting uncertainty.

Risk Score
High

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
11.83
Dividend Yield
-
Revenue TTM
4.47M
Revenue Per Share
0.60
Gross Profit TTM
2.84M
Debt / Equity
0.08
ROE
-3.83%
Net Debt
-10.13M
ROCE
-3.22%
Diluted EPS TTM
-0.18

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2026-03-31 2025-03-31 2024-03-31 2023-03-31 2022-03-31
Type yearly yearly yearly yearly yearly
Date 2026-03-31 2025-03-31 2024-03-31 2023-03-31 2022-03-31
Income before tax -1.18M -5.82M 0.99M 3.43M 3.58M
Minority interest 0.00M 0.00M - - -
Net income -1.17M -5.97M 1.05M 3.40M 3.49M
Selling general administrative 0.70M 2.92M 2.22M 2.25M 0.95M
Selling and marketing expenses - 4.56M 0.85M 0.19M -
Gross profit 2.46M 0.25M 4.35M 5.87M 4.53M
Reconciled depreciation 0.46M 0.18M 0.14M 0.12M 0.06M
Ebit -1.18M -5.57M 0.99M 3.43M 3.58M
Ebitda -0.72M -5.39M 1.13M 3.55M 3.64M
Depreciation and amortization 0.46M 0.18M 0.14M 0.12M 0.06M
Operating income -0.68M -5.57M 0.99M 3.43M 3.58M
Other operating expenses 5.40M 8.90M 7.05M 6.27M 4.24M
Interest expense - - - - 0.00M
Tax provision -0.00M 0.15M -0.06M 0.03M 0.09M
Income tax expense 0.00M 0.15M -0.06M 0.03M 0.09M
Total revenue 4.72M 3.33M 8.04M 9.70M 7.82M
Total operating expenses 3.13M 5.81M 3.36M 2.44M 0.95M
Cost of revenue 2.27M 3.08M 3.69M 3.83M 3.29M
Total other income expense net -0.50M -0.26M -3.16M - -
Net income from continuing ops -1.18M -5.97M 1.05M 3.40M 3.49M
Net income applicable to common shares - - - - 3.49M
Breakdown 2026-03-31 2025-03-31 2024-03-31 2023-03-31 2022-03-31
Type yearly yearly yearly yearly yearly
Date 2026-03-31 2025-03-31 2024-03-31 2023-03-31 2022-03-31
Total assets 86.06M 46.80M 57.64M 40.28M 13.88M
Intangible assets 0.06M 0.06M 0.06M - -
Other current assets 18.72M 2.95M 12.78M - 1.76M
Total liab 51.81M 11.91M 17.11M 4.33M 3.69M
Total stockholder equity 33.94M 34.89M 40.53M 35.95M 10.20M
Other current liab -0.11M 0.60M 0.65M 0.69M 0.13M
Common stock 0.04M 0.04M 0.04M 0.04M 0.03M
Capital stock 0.04M 0.04M 0.04M 0.04M 0.03M
Retained earnings 4.57M 5.74M 11.71M 10.66M 7.26M
Good will 0.03M 0.00M - - -
Other assets 65.45M - 26.57M - 0.30M
Cash 12.99M 12.23M 25.92M 15.97M 6.20M
Total current liabilities 49.54M 11.64M 10.91M 4.23M 3.44M
Current deferred revenue - - -0.06M - -
Net debt -10.13M -11.96M -25.86M -15.82M -5.95M
Short term debt 0.64M - 0.06M - -
Short long term debt 0.64M - - - -
Short long term debt total 2.86M 0.27M 0.06M 0.15M 0.24M
Other stockholder equity 29.04M 28.98M 28.90M 25.17M 2.93M
Property plant equipment - - - - 0.66M
Total current assets 77.89M 40.00M 52.49M 35.23M 11.57M
Long term investments 4.46M 5.65M 3.94M 4.20M 1.29M
Net tangible assets - - - - 10.13M
Short term investments - - 0.99M - -
Net receivables 46.19M 24.83M 13.79M 17.38M 3.61M
Long term debt 0.64M - - - -
Inventory - - 66.26M - -
Accounts payable 48.86M 10.98M 10.26M 3.54M 3.31M
Accumulated other comprehensive income 0.30M 0.13M -0.12M 0.08M -0.03M
Non currrent assets other 1.15M 0.80M 1.62M 0.16M 0.71M
Non current assets total 8.42M 6.80M 5.15M 5.06M 2.31M
Capital lease obligations 1.58M 0.27M 0.06M 0.15M 0.24M
Breakdown 2026-03-31 2025-03-31 2024-03-31 2023-03-31 2022-03-31
Type yearly yearly yearly yearly yearly
Date 2026-03-31 2025-03-31 2024-03-31 2023-03-31 2022-03-31
Investments 1.02M -9.36M -1.28M -6.54M -0.41M
Change to liabilities - - - 0.00M 0.07M
Total cashflows from investing activities 1.28M -9.36M -1.28M - -0.41M
Net borrowings 0.69M 0.00M - - -
Total cash from financing activities 0.99M 0.00M 4.39M 22.50M 0.00M
Change to operating activities - - - -4.91M -0.99M
Net income -1.18M -5.97M 1.05M 3.40M 3.49M
Change in cash 16.53M -23.52M 20.85M 9.88M 1.12M
Begin period cash flow 15.17M 38.70M 17.85M 7.96M 6.84M
End period cash flow 31.71M 15.17M 38.70M 17.83M 7.96M
Total cash from operating activities 14.02M -14.47M 17.76M -6.03M 1.58M
Issuance of capital stock - 0.00M 4.39M 22.65M -
Depreciation 0.46M 0.18M 0.14M 0.12M 0.06M
Other cashflows from investing activities 1.21M -6.96M 0.47M - -
Dividends paid - - - 0.00M 0.00M
Change to account receivables -21.91M -5.68M 4.35M -4.93M -0.90M
Other cashflows from financing activities 0.99M - -1.28M -0.15M -0.41M
Capital expenditures 0.90M 0.00M 0.01M 0.09M 0.41M
Change in working capital 15.35M -11.04M 17.04M -9.60M -1.97M
Stock based compensation 0.06M 0.07M 0.05M 0.05M -
Other non cash items -0.63M 2.29M -0.53M - -
Free cash flow 13.12M -14.47M 17.75M -6.12M 1.17M

Peer Comparison*

Sector: Financial Services Industry: Capital Markets

Stock Name
Change
(USD)
Price
(USD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
Enterprise Value
to EBITDA (x)
TOP
TOP Financial Group Limited
1.42
12.00%
13.25 - - 423.15 50.56 413.52 11.97
GS
Goldman Sachs Group Inc
-3.13
0.36%
865.82 17.21 16.00 4.47 2.26 11.15 -
SCHW
Charles Schwab Corp
-1.09
1.18%
91.49 19.53 13.89 7.16 4.22 8.80 -
MS
Morgan Stanley
-1.00
0.55%
181.44 16.50 13.76 2.80 1.65 - -
IBKR
Interactive Brokers Group Inc
-
-%
75.82 35.95 27.93 22.14 6.96 3.01 3.37

Profile*

TOP Financial Group Limited

TOP Financial Group Limited, through its subsidiaries, operates as an online brokerage company in Hong Kong. It is involved in the trading of equities, futures, and options products; and the provision of brokerage and value-added services, including trade order placement and execution, account management, and customer support services. The company also provides a range of futures products, such as index, forex, agricultural product, energy, and precious metal futures; and operates as an escrow agent in transactions relating to securities sales and transfers. In addition, it offers stock and options brokerage, structured note subscriber, consulting, currency exchange, margin financing, OTC derivative trading, and loan services. The company was formerly known as Zhong Yang Financial Group Limited and changed its name to TOP Financial Group Limited in July 2022. TOP Financial Group Limited was founded in 2015 and is headquartered in Singapore.

#13-05 Tong Eng Building, Singapore, Singapore, 069533

65 6252 8998

30

Name Title Year Born
Ms. Junli Yang Exec. Chairman 1979
Mr. Ka Fai Yuen CEO & Director 1975
Ms. Yung Yung Lo Chief Financial Officer 1983
Ms. Hoi Ling Tam Chief Operating Officer 1978
Ms. Junli Yang Chairman 1979
Ms. Junli Yang Executive Chairwoman 1979
Mr. Ka Fai Yuen CEO & Director 1975

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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