Company: TOP
Filing Date: 2025-08-13
Form Type: 20-F
Source: 0001213900-25-075728
Chunk: 54

Company: TOP Financial Group Ltd
Filing Date: 2025-08-13
Form: 20-F
Item: Item 8
Chunk 54
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Item
8. Financial Information

8. A. Consolidated Statements and Other Financial
Information

Please refer to“ Item
18. Financial Statements.”

Legal and Administrative Proceedings

We may from time to time
be subject to various legal or administrative claims and proceedings arising in the ordinary course of our business. We are currently
not a party to any pending any material legal or administrative proceedings and are not aware of any events that are likely to lead to
any such proceedings.

As of the date of this annual report, we are not
a party to, and we are not aware of any threat of, any legal proceeding that, in the opinion of our management, is likely to have a material
adverse effect on our business, financial condition or operations, nor have we experienced any incident of non-compliance which, in the
opinion of our directors, is likely to materially and adversely affect our business, financial condition or operations.

Litigation or any other
legal or administrative proceeding, regardless of the outcome, is likely to result in substantial costs and diversion of our resources,
including our management’s time and attention. For potential impact of legal or administrative proceedings on us, see “Item
3. KeyInformation - 3. D. Risk Factors - Risks Relating to Our Business and Industry - We may be subject
to litigation and regulatory investigations and proceedings and may not always be successful in defending ourselves against such claims
or proceedings” and “Item 3. KeyInformation - 3. D. Risk Factors - Risks
Relating to Our Business and Industry - We may face intellectual property infringement claims, which could be time-consuming and
costly to defend and may result in the loss of significant rights by us”.