Garden Stage Limited shares surge 12.23% intraday after reporting strong customer concentration and dividend support in annual report.

Garden Stage Limited surged 12.23% intraday, driven by its 2025 annual report revealing that its top five customers contributed 88% of revenue for the fiscal year ending March 31, 2025, with the largest customer accounting for 54%. The company's operating subsidiary also has no foreign exchange or cross-border cash flow restrictions, supporting fund distribution to shareholders.