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TOP Financial Group Limited (TOP)

USD1.95 +0.08 (+4.17%)
HK NASDAQ Financial Services Financial - Capital Markets
Address 118 Connaught Road West
Hong Kong, HK
CEO Ka Fai Yuen
Website zyfgl.com
IPO 2022-06-01
CIK 1848275 ISIN KYG989A61029

Explore sections of this company profile

Description

TOP Financial Group Limited operates as a Hong Kong-based online brokerage, offering a diverse array of trading services to its clientele. The company facilitates transactions in both domestic and international equities, futures, and options markets. Its comprehensive brokerage solutions encompass trade execution, account administration, and dedicated client assistance. TOP Financial's extensive futures product line covers index, foreign exchange, agricultural commodities, energy, and precious metals. Additionally, the group provides stock and options brokerage, advisory services, foreign exchange, structured note subscriptions, and margin lending. Founded in 2015, the firm was known as Zhong Yang Financial Group Limited until its rebranding in July 2022. It functions as a subsidiary of Zhong Yang Holdings (BVI) Limited.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
USD1.95 +0.08 (+4.17%)
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Volume Profile
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Liquidity & share structure
Average Volume
117.5K
Beta
-0.93
Float Shares
5.18M
Free Float %
14.0%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+2.26% +0.11% +18.90% -5.84% -14.32% -4.90% -22.05% -89.67% -94.40% -94.40% -94.40%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
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Annual Monthly Returns
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Daily Returns Distribution
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
1.95
DCF (Unlevered) 0.73 -62.3%
DCF (Levered) 0.29 -85.0%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Quality scores
Altman Z-Score
0.95
Distress
Piotroski F-Score
2 / 9
Weak
MOAT Score
3 / 10
No MOAT
Composite Rating
C
Overall Score
2 / 5
Medium
DCF Score
3 / 5
Medium
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
3 / 5
Medium
P/E Score
1 / 5
Low
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Financial - Capital Markets: +19.7%
    -58.6% Q1'26: +108.9% (vs Q1'24)
  • EPS growth Financial - Capital Markets: +35.3%
    -590.8% Q1'26: +49.2% (vs Q1'24)
  • FCF margin FCF growth · Financial - Capital Markets: +29.5%
    -497.9% Q1'26: +329.2% (vs Q1'24)
  • EBIT margin Financial - Capital Markets: +33.5%
    -167.2% Q1'26: -73.7% (vs Q1'24)
  • ROIC Financial - Capital Markets: +4.0%
    -24.3% Q1'26: -23.3% (vs Q1'24)
  • Share dilution Financial - Capital Markets: +0.0%
    +14.7% Q1'26: +2.3% (vs Q1'24)
  • Debt / EBITDA Net debt/EBITDA · Financial - Capital Markets: -0.30×
    -0.05× Q1'26: -0.41× (vs Q1'24)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (-0.89) × ERP
WACC = 99% × Ke + 1% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 0.73 Current price: 1.95
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-28 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-05-27 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-05-26 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-05-22 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-05-21 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-05-20 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-05-19 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-05-18 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-05-15 C+ 2/5 3/5 1/5 1/5 4/5 1/5 2/5
2026-05-14 C+ 2/5 3/5 1/5 1/5 4/5 1/5 2/5
2026-05-13 C+ 2/5 3/5 1/5 1/5 4/5 1/5 2/5
2026-05-12 C+ 2/5 3/5 1/5 1/5 4/5 1/5 2/5
2026-05-11 C+ 2/5 3/5 1/5 1/5 4/5 1/5 2/5
2026-05-08 C+ 2/5 3/5 1/5 1/5 4/5 1/5 2/5
2026-05-07 C+ 2/5 3/5 1/5 1/5 4/5 1/5 2/5
2026-05-06 C+ 2/5 3/5 1/5 1/5 4/5 1/5 2/5
2026-05-05 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-05-04 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-05-01 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-04-30 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-04-29 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-04-28 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-04-27 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-04-24 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-04-23 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-04-22 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-04-21 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-04-20 C 2/5 3/5 1/5 1/5 3/5 1/5 2/5
2026-04-17 C 2/5 3/5 1/5 1/5 2/5 1/5 2/5
2026-04-16 C 2/5 3/5 1/5 1/5 2/5 1/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
7.76M
OE per share TTM
0.22
Owner's Yield
22.00%
Maintenance CapEx ratio
54.66%
Maint CapEx / Avg PPE
2.4%

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
6
Total invested
135.2K
Insider transactions (90d)
0
Beneficial owners (>5%)
5
Beneficial owners (>5%)
# Reporting person Amount owned % of class Sole voting Shared voting Sole dispositive Shared dispositive Type Citizenship Filing date SEC filing
1 Chen Tseng Yuan 30.00M 85.59% 30.00M 30.00M IN or Place of Organization 2023-02-10
2 Ji An 30.00M 85.59% 30.00M 30.00M IN or Place of Organization 2023-02-10
3 Junli Yang 30.00M 85.59% 30.00M 30.00M IN or Place of Organization 2023-02-10
4 Yung Yung Lo 30.00M 85.59% 30.00M 30.00M IN or Place of Organization 2023-02-10
5 Zhong Yang Holdings (BVI) Limited 30.00M 85.59% 30.00M 30.00M CO or Place of Organization 2023-02-10

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2026 Q1
Investors holding
6
+0 vs prev Q
New positions
1
Closed positions
1
Increased
3
Reduced
1
Put/Call ratio
0.00
Calls held
Puts held
Top institutional holders
# Investor Shares / Δ Mkt value / Δ Own% / Δ Weight% / Δ Avg px / Perf. Hold / Status
1 SUSQUEHANNA INTERNATIONAL GROUP, LLP 71.9K +20.1K (+38.8%) 71.9K +4.5K (+6.7%) 0.19% +0.054 pp 0.00% +0.000 pp USD1.18 -15.3% 4 qtrs
2 RENAISSANCE TECHNOLOGIES LLC 47.3K +6.2K (+15.1%) 47.5K -5.5K (-10.3%) 0.13% +0.017 pp 0.00% +0.000 pp USD1.34 -25.4% 5 qtrs
3 XTX TOPCO LTD 35.1K +35.1K (+100.0%) 35.1K +35.1K (+100.0%) 0.09% +0.095 pp 0.00% +0.001 pp USD1.00 +0.0% 1 qtrs NEW
4 BLACKROCK, INC. 23.6K +— (+0.0%) 23.7K -6.7K (-22.1%) 0.06% 0.000 pp 0.00% +0.000 pp USD1.93 -48.2% 6 qtrs
5 GEODE CAPITAL MANAGEMENT, LLC 11.1K +— (+0.0%) 11.1K -3.3K (-23.1%) 0.03% +0.000 pp 0.00% +0.000 pp USD18.59 -94.6% 15 qtrs
6 UBS GROUP AG 1.2K +1.2K (+116,100.0%) 1.2K +1.2K (+116,700.0%) 0.00% +0.003 pp 0.00% +0.000 pp USD1.00 +0.0% 15 qtrs
7 TOWER RESEARCH CAPITAL LLC (TRC) -36.0 (-100.0%) -46.0 (-100.0%) 0.00% 0.000 pp 0.00% +0.000 pp USD 4 qtrs SOLD
8 VIRTU FINANCIAL LLC -32.5K (-100.0%) -42.0K (-100.0%) 0.00% -0.088 pp 0.00% -0.002 pp USD 2 qtrs SOLD
Ownership breakdown by holder

ETF Ownership

Top ETFs holding this stock

This company is not held by any ETF in our universe.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions From To
Date Person Role Transaction A/D Security Shares Price Value Owned after D/I Filing
2014-03-14 McAllister Robert Director / Officer / 10% Owner P-Purchase D Warrant 200,000 0.20 40.0K 3,410,000

Executive team

Top executives
EBIT / Employee
-107.0K
Shares Outstanding
37.07M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings
Filing date Form type Filing
2026-05-29 6-K
2026-05-12 6-K
2026-05-11 6-K
2026-05-04 6-K
2026-03-26 6-K
2026-01-20 6-K
2025-08-25 6-K
2025-08-13 20-F
2025-07-31 NT 20-F
2025-07-21 6-K

Executive team

NameTitleCompensationGender
Hoi Ling Tam Chief Operating Officer female
Junli Yang Executive Chairwoman female
Ka Fai Yuen Chief Executive Officer & Director male
Yung Yung Lo Chief Financial Officer female
ESG Rating
B
FINANCIAL - CAPITAL MARKETS
Rank: 49 out of 83
2025
E (Environmental)
62.2 / 59.1
Company / Sector avg.
S (Social)
67.0 / 74.1
Company / Sector avg.
G (Governance)
70.9 / 72.6
Company / Sector avg.
ESG Total
66.7 / 68.6
Company / Sector avg.
ESG Score History FINANCIAL - CAPITAL MARKETS
Benchmark vs Sector
Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend history

Earnings history

Earnings reports

Stock splits