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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.
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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.
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.
Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.
| 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 |
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 |
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.
| 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 |
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