Company: TOP
Filing Date: 2025-04-04
Form Type: CORRESP
Source: 0001213900-25-029015
Chunk: 2

Company: TOP Financial Group Ltd
Filing Date: 2025-04-04
Form: CORRESP
Chunk 2
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 ● | You                                                                                                                                     
 state that, “Should the Chinese government choose to exercise significant oversight and discretion over the conduct of [y]our business, 
 they may intervene in or influence the operations.” Please revise to clearly state that the Chinese government may exercise significant 
 oversight and discretion over the conduct of your business and may intervene in or influence your operations at any time.               |

| ● | In                                                                                                                                    
 the second bullet of this paragraph, you state that the Chinese government’s actions “could hinder [y]our ability to continue to      
 offer securities to investors.” Please revise to clearly state that such governmental actions could significantly limit or completely 
 hinder your ability to offer or continue to offer securities to investors. Refer to prior comment 4.                                  |

| ● | In                                                                                                                                      
 the third bullet of this paragraph, you state that the Chinese government’s actions “may cause the value of [y]our Class A ordinary     
 shares to significantly decline or be worthless” (emphasis added). Please revise to clarify that such actions may cause the value       
 of your securities (not just Class A ordinary shares) to significantly decline or be worthless. Also, please make corresponding changes 
 elsewhere on the prospectus cover page and throughout your filing, as applicable.                                                       |

Response: We note the Staff’s comment, and
in response hereto, respectfully advise the Staff that we have revised the disclosures to address the points on the cover page and page
7 of the Form F-3/A.

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We hope this response has addressed all of the
Staff’s concerns relating to the comment letter. Should you have additional questions regarding the information contained herein,
please contact the Company’s securities counsel William S. Rosenstadt, Esq., Mengyi “Jason” Ye, Esq. or Yarona Yieh,
Esq., of Ortoli Rosenstadt LLP at wsr@orllp.legal, jye@orllp.legal or yly@orllp.legal.

| Very truly yours,           |                         |
| TOP Financial Group Limited |                         |
| /s/ Ka Fai Yuen             |                         |
| Name:                       | Ka Fai Yuen             |
| Title:                      | Chief Executive Officer |

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