Company: TOP
Filing Date: 2025-04-04
Form Type: POS AM
Source: 0001213900-25-029013
Chunk: 23

Company: TOP Financial Group Ltd
Filing Date: 2025-04-04
Form: POS AM
Chunk 23
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 six months ended September 30,
2024 and the years ended March 31, 2024, 2023 and 2022, our Operating Subsidiaries provided futures brokerage services and other services
(including stock brokerage, options brokerage, consulting services, currency exchange services, structured note subscriber services,
margin financing services, OTC derivative trading and loan business). We generate revenues primarily from brokerage fees the Operating
Subsidiaries charge clients for executing and/or arranging the trades and transactions for them. Our revenues for the years ended March
31, 2024, 2023 and 2022 were US$8.0 million, US$9.7 million and US$7.8 million, respectively. Our revenues for the six months ended September
30, 2024 and 2023 were US$1.8 million and US$7.1 million, respectively. The commissions on futures brokerage accounted for 42.1%, 44.6%
and 54.9% of the total revenues for the years ended March 31, 2024, 2023 and 2022, respectively. The commissions on futures brokerage
accounted for 52.5% and 32.6% of the total revenues for the six months ended September 30, 2024 and 2023, respectively. Revenues from
the trading solution services accounted for 34.0%, 45.3% and 42.3% of the total revenues for the fiscal year ended March 31, 2024, 2023
and 2022, respectively. Revenues from the trading solution services accounted for 23.3% and 23.7% of the total revenues for the six months
ended September 30, 2024 and 2023, respectively. Revenues from the structured note subscription fees accounted for 9.4% of the total
revenues for the fiscal year ended March 31, 2022. We did not have any revenues from the structured note subscription fees during the
six months ended September 30, 2024 or during the fiscal year ended March 31, 2024 and 2023. Our Operating Subsidiaries also provide
other financial services including stock brokerage, options brokerage, consulting services, currency exchange services, margin financing
services, OTC derivative trading and loan business to our clients. Revenues generated from stock brokerage, consulting services, and
currency exchange services accounted for 3.