Thursday, August 18 2022

Hong Kong, China, June 03, 2022 (GLOBE NEWSWIRE) — Zhong Yang Financial Group Limited (the “Company”) (TOP), a fast-growing Hong Kong-based online brokerage firm specializing in stock trading local and foreign markets, futures, options products and other financial services, today announced the closing of its initial public offering (the “Offering”) of 5,000,000 common shares (the “Common Shares”) ) at a public offering price of $5.00 per share for aggregate gross proceeds of $25,000,000 before deducting underwriting discounts and offering costs. The Offer was made on the basis of a firm commitment. In addition, the Company has granted subscribers an option, exercisable one or more times in whole or in part, to purchase up to 750,000 additional Ordinary Shares at the IPO price, less subscription discounts, in 45 days following the closing date of the Offer to cover over-allotments, if any. The Offering closed on June 3, 2022 and the Ordinary Shares began trading on June 1, 2022 on the Nasdaq Capital Market under the symbol “TOP”.

Univest Securities, LLC acted as lead bookkeeper for the offering; Valuable Capital Limited served as co-editor of the book. Ortoli Rosenstadt LLP acted as corporate counsel and Hunter Taubman Fischer & Li LLC acted as underwriters’ counsel. Stevenson, Wong & Co. served as Hong Kong legal counsel for the company.

The Company intends to use the proceeds from this Offering primarily for (i) the development of Contract for Difference (“CFD”) products and services, in particular to connect with leading CFD liquidity providers such as UBS and Morgan Stanley to further develop its Hong Kong and global business, (ii) acquisitions and/or license applications in New Zealand and Australia in other regulated securities, futures and/or other businesses structured financial products, when the time comes, (iii) optimization of sales network coverage and geographical coverage, realization of more Internet-related services and sales (online), development of white label CFD partners and introduction of brokerage services to develop and strengthen the existing brokerage business, (iv) purchase of IT equipment and software to transform and upgrade our IT infrastructure tic and capability, including online trading platforms, risk monitoring programs, and computer software and program frameworks that provide customized trading and risk management functions, and (v) the working capital, operating expenses and other general business needs.

A registration statement on Form F-1 (File No. 333-259441) relating to the offering, as amended, has been filed with the United States Securities and Exchange Commission (“SEC”) and has been declared effective by the SEC on May 31, 2022. The Offering is made by means of a prospectus only. Copies of the final prospectus relating to the offering may be obtained, when available, from Univest Securities, LLC by email at [email protected] or by standard mail to Univest Securities, LLC, 75 Rockefeller Plaza, Suite 18 C, New York, NY 10019. In addition, a copy of the final prospectus may also be obtained through the SEC’s website at www.sec .gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, and there will be no sale of such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or territory.

About Zhong Yang 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, allow 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). 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.

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”, “intends”, “should”, “believes”, “expects”, “anticipates”, “projects”, “estimates” or similar expressions that do not relate solely to material, 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 whether the IPO will be achieved on the terms expected or not at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SECOND. 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
E-mail: [email protected]

Investor Relations:

Evergreen Consulting Inc.

Ms. Janice Wang, Managing Partner

E-mail: [email protected]

Phone: +1 571-464-9470 (from the United States)

+86 13811768559 (from China)

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