The following discussion should be read in conjunction with our audited financial statements and the related notes that appear elsewhere in this annual report. The following discussion contains forward-looking statements based upon current expectations that involve risks and uncertainties, such as our plans, objectives, expectations and intentions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of a number of factors, including those set forth under the Item 1A.

Our audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles.





Overview

Yinfu Gold Corporation (the "Company") is a Wyoming corporation incorporated on September 1, 2005, under the name Ace Lock & Security, Inc. Our name was changed to Yinfu Gold Corporation as of November 18, 2010.We are working to enter into new-emerging application industries of Internet Technology, Artificial Intelligence (AI) and the Internet of Things (IOT).

We have had limited operations and based upon our reliance on the sale of our common stock and the advances from our president, there are no assurances of any future source of funds for our operations.





Plan of Operation

We devote substantial efforts to enter into new-emerging application industries of Internet Technology, Artificial Intelligence (AI) and the Internet of Things (IOT).. However, our planned principal operations have not yet commenced.

Need for Additional Capital

The Company has not generated any revenues from operations, and may be unable to fund on-going activities. We cannot guarantee that we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in developing our own hardware and software, and the possibility of new regulations that will make our company difficult or impossible to operate.






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If we are unable to meet our needs for cash from either our operations, or possible alternative sources, then we may be unable to continue, develop, or expand our operations.

If we are unable to complete any phase of our development program or fail to raise additional capital to maintain our operations in the future, we may be unable to carry out our full business plan or we may be forced to cease operations.





Results of Operations

We have generated no revenues and have incurred $472,803 in expenses for the year ended March 31, 2022.

The following table provides selected financial data about our company as of March 31, 2022 and 2021.





                         March 31,        March 31,
                            2022             2021
Cash                    $        525     $        300
Total Assets                  13,321           81,630
Total Liabilities          2,457,748        2,024,936
Stockholders' Deficit   $ (2,444,427 )   $ (1,943,306 )

As of March 31, 2022, the Company's cash balance was $525 compared to $300 as of March 31, 2021, and our total assets as of March 31, 2022, were $13,321 compared with $81,630 as of March 31, 2021. The decrease in total assets was due to the lessor operating lease right of use asset, net recognized as of March 31, 2022.

As of March 31, 2022, the Company had total liabilities of $2,457,748 compared with total liabilities of $2,024,936 as of March 31, 2021. The increase in total liabilities was primarily attributed to an increase in related party debt owed to the President of the Company, offset by a decrease in operating lease liabilities - current and other payables.





                             Year Ended      Year Ended
                              March 31,       March 31,
                                2022            2021
Revenue                      $         -     $         -
Operating Expenses
General and administrative       416,283         211,426
Professional fees                 56,520          75,055
Total Operating Expenses         472,803         286,481
Loss from Operations         $  (472,803 )   $  (286,481 )




Revenues

The Company has generated no operating revenues during the years ended March 31, 2022 and 2021.





Operating expenses

For the year ended March 31, 2022, total operating expenses were $472,803 which consisted of general and administrative fees and professional fees. For the year ended March 31,2021, total operating expenses were $286,481 which consisted of general and administrative fees and professional fees. The increase in operating expense was mainly due to the increase in general and administrative expense which mainly resulted from the increased management salary for the year ended March 31, 2022.






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Liquidity and Capital Resources





Working Capital



                                As of            As of
                              March 31,        March 31,
                                 2022             2021
Current Assets               $      6,840     $      1,995
Current Liabilities          $  2,457,748     $  2,024,936
Working Capital Deficiency   $ (2,450,908 )   $ (2,022,941 )

As of March 31, 2022, the Company had a working capital deficiency of $2,450,908 compared with working capital deficiency of $2,022,941 as of March 31, 2021. The increase in working capital deficiency was primarily attributed to the increase in current liabilities due to an increase in payable to related party of the Company.





Cash Flows



                                                  Year Ended      Year Ended
                                                   March 31,       March 31,
                                                     2022            2021

Cash Used in Operating Activities                 $  (172,771 )   $  (348,186 )
Cash Used in Investing Activities                 $         -     $         -
Cash Provided by Financing Activities             $   172,981     $   347,678

Effects on changes in foreign exchange rate $ 15 $ 33 Net (Decrease)/Increase in Cash During the Year $ 225 $ (475 )

Cash Flows Used in Operating Activities

During the year ended March 31, 2022, the Company had $172,771 in cash used in operating activities which was mainly attributed to loss from operations of $473,220, an increase in other receivable of $4,508 and a decrease in operating lease liability of $74,895 partially offset by the amortization of right-of-use asset of $74,895, the increase in wage payable to related party of $251,778, compared to cash used in operating activities of $348,186 during the year ended March 31, 2021. The decrease in cash used for operating activities was due to the increase in accounts payable and accrued liabilities and the increase in wage payable to related party for the year ended March 31, 2022.






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Cash Flows Used in Investing Activities

During the years ended March 31, 2022 and 2021, the Company used no cash in investing activities.

Cash Flows Provided by Financing Activities

Financing activities for both 2022 and 2021 mainly referred to the proceeds from related party for operating.

Mr. Jiang Libin advanced net amount of $120,541 and $347,678 to the Company for the years ended March 31, 2022 and 2021 respectively. Mr. Huang Jing advanced net amount of $52,440 and $0 to the Company for the years ended March 31, 2022 and 2021 respectively.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

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