中阳金融2022年度报告

UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION Washington,D.C.20549FORM20-F (MarkOne) ☐REGISTRATIONSTATEMENTPURSUANTTOSECTION12(B)OR12(G)OFTHESECURITIESEXCHANGEACTOF1934 OR ☒ANNUALREPORTPURSUANTTOSECTION13OR15(D)OFTHESECURITIESEXCHANGEACTOF1934 ForthefiscalyearendedMarch31,2023OR ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(D)OFTHESECURITIESEXCHANGEACTOF1934 OR ☐SHELLCOMPANYREPORTPURSUANTTOSECTION13OR15(D)OFTHESECURITIESEXCHANGEACTOF1934 ForthetransitionperiodfromtoCommissionfilenumber:001-41407 TOPFinancialGroupLimited (ExactnameofRegistrantasspecifiedinitscharter) CaymanIslands (Jurisdictionofincorporationororganization) 118ConnaughtRoadWestRoom1101 HongKong (Addressofprincipalexecutiveoffices) KaFaiYuen +852-3107-0731 paul.yuen@zyzq.com.hk118ConnaughtRoadWestRoom1101 HongKong (Name,Telephone,E-mailand/orFacsimilenumberandAddressofCompanyContactPerson)SecuritiesregisteredortoberegisteredpursuanttoSection12(b)oftheAct: TitleofeachclassTradingSymbol(s)Nameofeachexchangeon whichregistered Ordinaryshares,parvalue$0.001pershare TOP TheNasdaqStockMarketLLCNasdaqCapitalMarket SecuritiesregisteredortoberegisteredpursuanttoSection12(g)oftheAct:None SecuritiesforwhichthereisareportingobligationpursuanttoSection15(d)oftheAct:None Indicatethenumberofoutstandingsharesofeachoftheissuer’sclassesofcapitalorcommonstockasofthecloseoftheperiodcoveredbytheannualreport:35,004,635ordinarysharesissuedandoutstandingasofMarch31,2023. Indicatebycheckmarkiftheregistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct. ☐Yes☒No Ifthisreportisanannualortransitionreport,indicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934. ☐Yes☒No Indicatebycheckmarkwhethertheregistrant:(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days. ☒Yes☐No IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyandpostedonitscorporateWebsite,ifany,everyInteractiveDataFilerequiredtobesubmittedandpostedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitandpostsuchfiles). ☒Yes☐No Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,oranemerginggrowthcompany.Seedefinitionof“largeacceleratedfiler,”“acceleratedfiler,”and“emerginggrowthcompany”inRule12b-2oftheExchangeAct. Largeacceleratedfiler☐Acceleratedfiler☐Non-acceleratedfiler☒ Emerginggrowthcompany☒ IfanemerginggrowthcompanythatpreparesitsfinancialstatementsinaccordancewithU.S.GAAP,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandards†providedpursuanttoSection13(a)oftheExchangeAct.☐ Indicatebycheckmarkwhethertheregistranthasfiledareportonandattestationtoitsmanagement’sassessmentoftheeffectivenessofitsinternalcontroloverfinancialreportingunderSection404(b)ofthe Sarbanes-OxleyAct(15U.S.C.7262(b))bytheregisteredpublicaccountingfirmthatpreparedorissueditsauditreport.☐ IfsecuritiesareregisteredpursuanttoSection12(b)oftheAct,indicatebycheckmarkwhetherthefinancialstatementsoftheregistrantincludedinthefilingreflectthecorrectionofanerrortopreviouslyissuedfinancialstatements.☐ Indicatebycheckmarkwhetheranyofthoseerrorcorrectionsarerestatementsthatrequiredarecoveryanalysisofincentivebasedcompensationreceivedbyanyoftheregistrant’sexecutiveofficersduringtherelevantrecoveryperiodpursuantto§240.10D-1(b).☐ Indicatebycheckmarkwhichbasisofaccountingtheregistranthasusedtopreparethefinancialstatementsincludedinthisfiling: U.S.GAAP☒InternationalFinancialReportingStandardsasissuedOther☐bytheInternationalAccountingStandardsBoard☐ If“Other”hasbeencheckedinresponsetothepreviousquestion,indicatebycheckmarkwhichfinancialstatementitemtheregistranthaselectedtofollow. ☐Item17☐Item18 Ifthisisanannualreport,indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b-2oftheSecuritiesExchangeActof1934). ☐Yes☒No (APPLICABLEONLYTOISSUERSINVOLVEDINBANKRUPTCYPROCEEDINGSDURINGTHEPASTFIVEYEARS) IndicatebycheckmarkwhethertheregistranthasfiledalldocumentsandreportsrequiredtobefiledbySections12,13or15(d)oftheSecuritiesExchangeActof1934subsequenttothedistributionofsecuritiesunderaplanconfirmedbyacourt. ☐Yes☐No TableofContents Page PARTI ITEM2.OFFERSTATISTICSANDEXPECTEDTIMETABLE1 ITEM1.IDENTITYOFDIRECTORS,SENIORMANAGEMENTANDADVISERS1 ITEM4.INFORMATIONONTHECOMPANY40 ITEM3.KEYINFORMATION1 ITEM5.OPERATINGANDFINANCIALREVIEWANDPROSPECTS75 ITEM4A.UNRESOLVEDSTAFFCOMMENTS74 ITEM6.DIRECTORS,SENIORMANAGEMENTANDEMPLOYEES94 ITEM7.MAJORSHAREHOLDERSANDRELATEDPARTYTRANSACTIONS101 ITEM8. FINANCIALINFORMATION 101 ITEM9. THEOFFERANDLISTING 103 ITEM10. ADDITIONALINFORMATION 103 ITEM11. QUANTITATIVEANDQUALITATIVEDISCLOSURESABOUTMARKETRISK 112 ITEM12. DESC