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 December 31, 2022 and 2021





                               Three months      Three months
                                   ended             ended
                               December 31,      December 31,
                                   2022              2021           Fluctuation          %

Revenue                        $           -     $           -     $           -           N/A
Operating Expenses:
General and administrative           103,579           105,631            (2,052 )          -2 %
Professional fees                      6,924            12,830            (5,906 )         -46 %
Total Operating Expenses             110,503           118,461            (7,958 )          -7 %
Net loss from Operations            (110,503 )        (118,461 )           7,958            -7 %
Net loss                       $    (110,512 )   $    (118,461 )   $       7,949            -7 %




Revenues

The Company has generated no revenues during the three months ended December 31, 2022 and 2021.





Operating expenses

For the three months ended December 31, 2022, total operating expenses were $110,503, which consisted general and administrative fees and professional fees. For the three months ended December 31, 2021, total operating expenses were $118,461, 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.

Nine Months Ended December 31, 2022 and 2021





                                Nine months       Nine months
                                   ended             ended
                               December 31,      December 31,
                                   2022              2021           Fluctuation          %

Revenue                        $           -     $           -     $           -           N/A
Operating Expenses:
General and administrative           299,225           312,311           (13,086 )          -4 %
Professional fees                     44,389            41,824             2,565             6 %
Total Operating Expenses             343,614           354,135           (10,521 )          -3 %
Net loss from Operations            (343,614 )        (354,135 )          10,521            -3 %
Net loss                       $    (342,635 )   $    (354,385 )   $      11,750            -3 %




Revenues

The Company has generated no revenues during the nine months ended December 31, 2022 and 2021.





Operating expenses

For the nine months ended December 31, 2022, total operating expenses were $343,614, which consisted general and administrative fees and professional fees. For the nine months ended December 31, 2021, total operating expenses were $354,135, which consisted general and administrative fees and professional fees. The total operating expenses remained stable for the nine months ended December 31, 2022.

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





                                 December 31,       March 31,
                                     2022              2022
Cash                             $         560     $        525
Total Assets                     $      36,694     $     13,321
Total Liabilities                $   2,738,769     $  2,457,748

Stockholders' Equity (Deficit) $ (2,702,075 ) $ (2,444,427 )

As of December 31, 2022, the Company's cash balance was $560 compared to $525 as of March 31, 2022, and our total assets as of December 31, 2022, were $36,694 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 December 31, 2022, the Company had total liabilities of $2,738,769 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



                             December 31,       March 31,
                                 2022              2022
Current Assets               $       9,478     $      6,840
Current Liabilities          $   2,738,769     $  2,457,748
Working Capital Deficiency   $  (2,729,291 )   $ (2,450,908 )

As of December 31, 2022, the Company had a working capital deficiency of $2,729,291, 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



                                                 Nine Months        Nine Months
                                                    Ended              Ended
                                                 December 31,       December 31,
                                                     2022               2021

Cash Flows Used in Operating Activities $ (86,706 ) $ (137,412 ) Cash Flows Provided by Investing Activities $

            -     $            -

Cash Flows Provided by Financing Activities $ 100,050 $ 137,708 Effects on change in foreign exchange rate $ (13,309 ) $

           93
Net increase (decrease) in Cash During Period   $           35     $          389

Cash Flows Used in Operating Activities

During the nine months ended December 31, 2022, the Company had $86,706 in cash used in operating activities, which was mainly attributed from the net loss of $342,635, the decrease of $30,108 in operating lease liability, the increase of $3,148 in other receivable, and offset by the amortization of $25,325 in right-of-use asset, an increase of $78,884 in account payable and accrued expense, and an increase of $184,976 in wage payable to related parties.

During the nine months ended December 31, 2021, the Company had $137,412 in cash used in operating activities, which was mainly attributed from loss from operations of $354,385 and offset by the increase in salary payable to related party of $180,000.

Cash Flows Provided by Investing Activities

During the nine months ended December 31, 2022 and 2021, the Company used no cash in investing activities.

Cash Flows Provided by Financing Activities

During the nine months ended December 31, 2022, the President and one individual creditor have advanced the Company $60,925 and $39,125 respectively, for operating expenses.

During the nine months ended December 31, 2021, the President and one individual creditor have advanced the Company $111,493 and $26,215 respectively, 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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