TOP Financial Group Limited Announces Company Name Change

Hong Kong China, July 22, 2022 – TOP Financial Group Limited (the “Company”) (NASDAQ: TOP), a fast-growing Hong Kong-based online brokerage firm specializing in the trading of local and foreign equities, of futures and options products and other financial services, announced today that on July 13, 2022, the shareholders of the Company approved an amendment to the certificate of incorporation of the Company to change the name of the Company of Zhong Yang Financial Group Limited in “TOP Financial Group Limited”. Accordingly, the Company amended its certificate of incorporation to update its new name. The common shares of the Company trade under the symbol “TOP” and will begin trading under the new name “TOP Financial Group Limited” on July 22, 2022.

About TOP Financial Group Limited

Founded in Hong Kong, the company, through its operating subsidiaries, operates online brokerage platforms specializing in the trading of local and foreign equities, futures and options products.

The trading platforms, which the Operating Subsidiaries license to third parties, enable its investors to trade on renowned stock and futures exchanges around the world, including the Chicago Mercantile Exchange (“CME”), the 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 operating subsidiaries are licensed by the Hong Kong Securities and Futures Commission (“HKSFC”) to engage in Type 1 (securities trading) and Type 2 (futures trading) regulated activities, and are licensed by the HKSFC to engage in regulated business type 4 (securities advice), type 5 (futures advice) and type 9 (asset management) in Hong Kong. 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 regarding future plans, objectives, goals, strategies, events or performance, as well as underlying assumptions and other statements other than statements of historical fact. Where the Company uses words such as “may”, “will”, “intend”, “should”, “believe”, “expect”, “anticipate”, “plan”, “estimate” or similar expressions that do not relate solely to matters, it makes forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company’s expectations described in the forward-looking statements. These statements are subject to uncertainties and risks, including, but not limited to, uncertainties relating to market conditions and the completion of the initial public offering on the terms provided or not at all, and to other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these and other reasons, investors are cautioned not to place undue reliance on any forward-looking statements contained in this press release. Other factors are discussed in the Company’s filings with the SEC, which may be viewed at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances occurring after the date hereof.

For more information please contact:

The company:

RI Department

Email: [email protected]

Investor Relations:

EverGreen Consulting Inc.

Ms. Janice Wang, Managing Partner

Email: [email protected]

Phone: +1 470-940-3308 (from the United States)

+86 13811768559 (from China)