Expect to enhance income and profit considerably
Hong Kong China, Oct. 25, 2022 (GLOBE NEWSWIRE) — TOP Financial Group Limited (“TOP” or the “Company”) (NASDAQ: TOP), a fast-growing on-line brokerage agency situated in Hong Kong specializing in the buying and selling of native and overseas equities, futures, choices merchandise and different monetary companies, at the moment introduced that the corporate is planning to provoke its over-the-counter (OTC) derivatives business in 2023. In addition to present trade traded equities, futures and choices, TOP will add the OTC derivatives, which together with China A-share, Hong Kong and US inventory choices.
Mr. Ka Fai Yuen, CEO of the Company commented: ‘We are thrilled about this enlargement. Derivatives market presents large alternative for us. Just China A share market alone, the derivatives merchandise have been RMB 2.08 trillion1 (USD 328 billion) in January 2022, and the U.S. derivatives market was RMB a number of hundred trillion. Our new service will present diversified choices to deal with elevated purchasers’ wants and enhance acquisition of worldwide purchasers. Leveraging TOP’s superior expertise infrastructure, we’ll present a quick, seamless, and economical channel for our purchasers globally to commerce OTC inventory choices throughout totally different markets. The main members in the OTC inventory choices market embody massive institutional buyers akin to mutual funds, business banks, pension funds, and funds of funds, and personal buyers. With this enlargement, we’re assured about buying extra clients and speed up income development.’
According to the most recent statistics from STCN (Securities Association of China), as of the top of January 2022, the nominal principal of over-the-counter derivatives reached 2.08 trillion RMB, a year-on-year enhance of 57.73%; the compound development charge from 2018 to 2021 reached 79.85%. TOP plans to work with high worldwide funding banks and third-party brokers to supply the buying and selling designated merchandise and different complementary middleman companies. Similar to its customary securities brokerage providing, TOP will obtain fee charges and the Company expects vital income enhance after the launch of the brand new business.
The Company will proceed to take a position in its fintech business to counterpoint services providing, aiming to supplies monetary companies to its skilled investor purchasers via self-developed one-stop-shop monetary platform and to develop into a world main monetary companies platform. The Company will purchase extra regulatory licenses in main monetary markets and proceed to strengthen its expertise benefit.
About TOP Financial Group Limited
Founded in Hong Kong, the Company, via its working subsidiaries, operates on-line brokerage platforms specializing in the buying and selling of native and overseas equities, futures, and choices merchandise.
The buying and selling platforms, which the working subsidiaries license from third events allow its buyers to commerce on famend inventory and futures exchanges world wide, together with the Chicago Mercantile Exchange (“CME”), Hong Kong Futures Exchange (“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). The working subsidiaries are licensed with the Securities and Futures Commission of Hong Kong (“HKSFC”) to carry out type 1 (dealing in securities), type 2 (dealing in futures contracts) regulated activities, and are licensed with the HKSFC to carry out type 4 (advising on securities), type 5 (advising on futures contracts), and type 9 (asset management) regulated activities in Hong Kong. TOP is also in the process of completing its acquisition of Australia licensed company TOP 500 Sec Pty Ltd, which will provide dealing services in derivatives and foreign exchange contracts, and financial product advices for derivatives, foreign exchange contracts, debentures, stocks or bonds in the near future.
For more information, please visit http://www.zyfgl.com/.
Forward-Looking Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “could, “will, “intend,” “ought to,” “imagine,” “anticipate,” “anticipate,” “mission,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. These forward-looking statements include, without limitation, the Company’s statements regarding the expected trading of its Ordinary Shares on the Nasdaq Capital Market and the closing of the Offering. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
The Company:
IR Department
Email: [email protected]
Investor Relations:
EverGreen Consulting Inc.
Ms. Hana Yin, Managing Partner
Email: [email protected]
Phone: +1-949-416-8888 (from U.S.)
+86- 185-0119-2929 (from China)
1: The latest statistics from STCN (Securities Association of China), as of the end of January 2022
