Forward-Looking Statements

Except for historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve risks and uncertainties, including, among other things, statements regarding our business strategy, future revenues and anticipated costs and expenses. Such forward-looking statements include, among others, those statements including the words "expects", "anticipates", "intends", "believes" and similar language. Our actual results may differ significantly from those projected in the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, those discussed in the sections "Business", "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations". You should carefully review other documents we file from time to time with the Securities and Exchange Commission ("SEC"). You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this report. We undertake no obligation to publicly release any revisions to the forward-looking statements or reflect events or circumstances after the date of this document.

Although we believe that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements.

All references in this Form 10-Q to the "Company", "Yinfu", "we", "us" or "our" are to Yinfu Gold Corporation.

Our unaudited 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.






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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.

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

Three Months Ended September 30, 2022 and 2021





                              Three months       Three months
                                 ended              ended
                             September 30,      September 30,
                                  2022               2021           Fluctuation          %

Revenue                      $            -     $            -     $           -           N/A
Operating Expenses:
General and administrative           96,310            103,388            (7,078 )          -7 %
Professional fees                    16,395             20,730            (4,335 )         -21 %
Total Operating Expenses            112,705            124,118           (11,413 )          -9 %
Net loss from Operations           (112,705 )         (124,118 )          11,413            -9 %
Net loss                     $     (112,550 )   $     (124,368 )   $      11,818           -10 %




Revenues

The Company has generated no revenues during the three months ended September 30, 2022 and 2021.





Operating expenses

For the three months ended September 30, 2022, total operating expenses were $112,705, which consisted general and administrative fees and professional fees. For the three months ended September 30, 2021, total operating expenses were $124,118, which consisted general and administrative fees and professional fees. The decrease in operating expense was due to the decrease in professional fees and general and administrative expense.

Six Months Ended September 30, 2022 and 2021





                                Six months        Six months
                                   ended             ended
                               September 30,     September 30,
                                   2022              2021           Fluctuation          %

Revenue                        $           -     $           -     $           -           N/A
Operating Expenses:
General and administrative           195,646           206,680           (11,034 )          -5 %
Professional fees                     37,465            28,994             8,471            29 %
Total Operating Expenses             233,111           235,674            (2,563 )          -1 %
Net loss from Operations            (233,111 )        (235,674 )           2,563            -1 %
Net loss                       $    (232,123 )   $    (235,924 )   $       3,801            -2 %




Revenues

The Company has generated no revenues during the six months ended September 30, 2022 and 2021.





Operating expenses

For the six months ended September 30, 2022, total operating expenses were $233,111, which consisted general and administrative fees and professional fees. For the six months ended September 30, 2021, total operating expenses were $235,674, which consisted general and administrative fees and professional fees. The total operating expenses remained stable for the six months ended September 30, 2022.

The following table provides selected financial data about our company as of September 30, 2022 and March 31, 2022.





                                  September 30,       March 31,
                                      2022               2022
Cash                             $         2,108     $        525
Total Assets                     $        36,186     $     13,321
Total Liabilities                $     2,596,437     $  2,457,748

Stockholders' Equity (Deficit) $ (2,560,251 ) $ (2,444,427 )

As of September 30, 2022, the Company's cash balance was $2,108 compared to $525 as of March 31, 2022, and our total assets as of September 30, 2022, were $36,186 compared with $13,321 as of March 31, 2022. The increase in cash was immaterial and increase in total assets was mainly due to the increase in operating lease right of use asset, net.






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As of September 30, 2022, the Company had total liabilities of $2,596,437 compared with total liabilities of $2,457,748 as of March 31, 2022. The fluctuation of total liabilities was immaterial.

Liquidity and Capital Resources





Working Capital



                              September 30,       March 31,
                                  2022               2022
Current Assets               $         9,761     $      6,840
Current Liabilities          $     2,596,437     $  2,457,748
Working Capital Deficiency   $    (2,586,676 )   $ (2,450,908 )

As of September 30, 2022, the Company had a working capital deficiency of $2,586,676, compared with working capital deficiency of $2,450,908 as of March 31, 2022. The slight increase in working capital deficiency was primarily attributed to the increase in current liabilities due to the increase of advance from the President and one individual creditor for operating expenses.





Cash Flows



                                                  Six Months          Six Months
                                                     Ended               Ended
                                                 September 30,       September 30,
                                                     2022                2021

Cash Flows Used in Operating Activities $ (89,853 ) $ (96,699 ) Cash Flows Provided by Investing Activities $

             -     $             -

Cash Flows Provided by Financing Activities $ 91,477 $ 96,945 Effects on change in foreign exchange rate $

           (41 )   $            (6 )
Net increase (decrease) in Cash During Period   $         1,583     $           240

Cash Flows Used in Operating Activities

During the six months ended September 30, 2022, the Company had $89,853 in cash used in operating activities, which was mainly attributed from the net loss of $232,123, the decrease of $43,799 in operating lease liability, the increase of $2,124 in other receivable, and offset by the amortization of $25,564 in right-of-use asset, an increase of $37,606 in account payable and accrued expense, and an increase of $125,023 in wage payable to related parties.

During the six months ended September 30, 2021, the Company had $96,699 in cash used in operating activities, which was attributed from loss from operations of $235,924 and offset by the increase in other payable of $30,959, and amortization of $36,735.

Cash Flows Provided by Investing Activities

During the six months ended September 30, 2022 and 2021, the Company used no cash in investing activities.

Cash Flows Provided by Financing Activities

During the six months ended September 30, 2022, the President and other related parties creditor have advanced the Company $91,477 for operating expenses.

During the six months ended September 30, 2021, the President has advanced the Company $96,945 for operating expenses.

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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