Tiny Hong Kong based online brokerage TOP Financial Group (NASDAQ: TOP) has become the latest crazy meme stock. They have just $5.2M in revenue ($1.8M in net income) for the last six months they reported financials (for the six months ended September 30, 2022)… Hong Kong broker Top Financial stock soars as much as 900% on meme trade (Yahoo Finance Video) 1:46 Min.
Note: Previously known as “Zhong Yang Financial Group Limited.” TOP Financial Group Limited Announces Corporate Name Change
“ZYFGL is a holding company incorporated in the Cayman Islands with no material operations of its own. As a holding company with no material operations of its own, ZYFGL conducts its operations in Hong Kong through its subsidiaries, Zhong Yang Securities Limited (“ZYSL”) and Zhong Yang Capital Limited (“ZYCL”), both incorporated in Hong Kong, and WIN100 TECH Limited, incorporated in the British Virgin Islands (“WIN100 TECH”, and collectively with ZYSL and ZYCL, the “Operating Subsidiaries”). The Ordinary Shares offered in this offering are shares of ZYFGL, the Cayman Islands holding company, instead of shares of the Operating Subsidiaries. Investors in this offering will not directly hold equity interests in the Operating Subsidiaries.” Prospectus [Rule 424(b)(4)]
“Currently our customers are mainly high volume and frequency trading institutional and individual investors. Our clients primarily reside in Asia and we are currently focusing on expanding our customer base to Southeast Asian investors. Our trading platforms, which our Operating Subsidiaries license from third parties, enable investors to place trades on more than 100 futures products on multiple exchanges around the world including the Chicago Mercantile Exchange (CME), Hong Kong Futures Exchange Limited (HKFE), The New York Mercantile Exchange (NYMEX), The Chicago Board of Trade (CBOT), The Commodity Exchange (COMEX), Eurex Exchange (EUREX), ICE Clear Europe Limited (ICEU), Singapore Exchange (SGX), Australia Securities Exchange (ASX), Bursa Malaysia Derivatives Berhad (BMD), and Osaka Exchange (OSE).” Prospectus [Rule 424(b)(4)]
REVENUE: Total revenues increased by 60.6% from US$3.2 million in six months ended September 30, 2021 to US$5.2 million in six months ended September 30, 2022… NET INCOME: As a result of the foregoing, our net income increased by 112.2% from US$0.9 million in the six months ended September 30, 2021 to US$1.8 million in the six months ended September 30, 2022. Management’s Discussion and Analysis of Financial Condition and Results of Operations for the Six Months Ended September 30, 2022 and 2021
P/E (Google Finance): n/a / P/E (Yahoo! Finance): 284.76
Dividend Yield (Google Finance): n/a / Forward Dividend & Yield (Yahoo! Finance): n/a
5-Day + 1 YEAR CHART:
LONG TERM CHART:
Investor Relations (Chinese)
Press Release – TOP Financial Group Limited Issues Statement Regarding Market Activity, dated April 28, 2023
Hong Kong broker Top Financial stock soars as much as 900% on meme trade (Yahoo Finance Video) 1:46 Min
TOP Financial Group Limited Announces 63% and 178% Year-Over-Year Growths in Revenue and Net Profit (Oct 2022)
Management’s Discussion and Analysis of Financial Condition and Results of Operations for the Six Months Ended September 30, 2022 and 2021
Zhong Yang Financial Group Limited Announces Closing of $25,000,000 Initial Public Offering (June 2022)
Prospectus [Rule 424(b)(4)]
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TOP Cayman Islands Chinese Scam Called Out A Week Before The Big Run
Episode 330: David brings up the topic of TOP, a Chinese Cayman Islands IPO scam to Dan McClory on The Friendly Bear Podcast on 4/21/2023. TOP later ran to an all time high of 260 in the afterhours a few days later on 4/27/2023.