Company: TOP
Filing Date: 2025-04-30
Form Type: POS AM
Source: 0001213900-25-037641
Chunk: 15

Company: TOP Financial Group Ltd
Filing Date: 2025-04-30
Form: POS AM
Chunk 15
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 China; |

| ● | “Operating Subsidiaries”                                      
 refers to WIN100 TECH, WIN100 WEALTH, Winrich, ZYCL and ZYSL; |

| ● | “Predecessor Parent                                                                                               
 Company” or “ZYHL” refers to Zhong Yang Holdings Limited, a company with limited liability under the laws of Hong 
 Kong.                                                                                                             |

| ● | “SEC” refers                                             
 to the United States Securities and Exchange Commission; |

| ● | “SEHK” refers                               
 to the Stock Exchange of Hong Kong Limited; |

| ● | “TFGL”,                                                                     
 the “Company”, “we,” “us,” “or “our” refers to TOP Financial Group Limited, 
 a Cayman Islands exempted company;                                          |

| ● | “TOP 500” refers                                                      
 to TOP 500 SEC PTY LTD, a company formed under the laws of Australia; |

| ● | “TOP ASSET MANAGEMENT”                                                                 
 refers to TOP ASSET MANAGEMENT PTE.LTD., a company formed under the laws of Singapore; |

| ● | “TOP FINANCIAL”                                                                 
 refers to TOP FINANCIAL PTE.LTD., a company formed under the laws of Singapore; |

| ● | “US$” or “U.S.                                              
 dollars” refers to the legal currency of the United States; |

| ● | “WIN100                                                                                                               
 MANAGEMENT” refers to WIN100 Management Limited, a company incorporated under the laws of the British Virgin Islands; |

| ● | “WIN100 TECH”                                                                                   
 refers to WIN100 TECH Limited, a company incorporated under the laws of British Virgin Islands. |

<div align='center'>iii</div>

| ● | “WIN100 WEALTH”                                                                                       
 refers to WIN100 WEALTH LIMITED, a company incorporated under the laws of the British Virgin Islands; |

| ● | “Winrich” refers                                                                    
 to Winrich Finance Limited, a company incorporated under the laws of the Hong Kong; |

| ● | “ZYAL BVI”                                                                                     
 refers to ZYAL (BVI) Limited, a company incorporated under the laws of British Virgin Islands. |

| ● | “ZYCL” refers                                                                                
 to Zhong Yang Capital Limited, a company with limited liability under the laws of Hong Kong. |

| ● | “ZYCL BVI”                                                                                     
 refers to ZYCL (BVI) Limited, a company incorporated under the laws of British Virgin Islands. |

| ● | “ZY