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 establish and build a peer-to-peer ("P2P") online lending service platform.

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 establishing a P2P online lending service platform. However, our planned principal operations have not yet commenced.

In 2020, we plan to establish the Company as a known P2P online lending service provider. We provide an online lending platform that matches lenders directly with the borrowers and charge a commission fee. Through our P2P platform, lenders can earn higher returns compared to savings and investment products offered by banks, while borrowers can borrow money at lower interest rate.





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 $207,316 in expenses for the year ended March 31, 2020.

The following table provides selected financial data about our company as of March 31, 2020 and 2019.





                         March 31,        March 31,
                            2020             2019
Cash                    $        775     $        519
Total Assets                 118,940            7,558
Total Liabilities          1,721,723        1,423,662
Stockholders' Deficit   $ (1,602,783 )   $ (1,416,104 )

As of March 31, 2020, the Company's cash balance was $775 compared to $519 as of March 31, 2019, and our total assets as of March 31, 2020, were $118,940 compared with $7,558 as of March 31, 2019. The increase in total assets was due to the recognition of operating lease right of use asset, net as of March 31, 2020.

As of March 31, 2020, the Company had total liabilities of $1,721,723 compared with total liabilities of $1,423,662 as of March 31, 2019. The increase in total liabilities was primarily attributed to an increase in related party debt owed to the President of the Company, and an increase in accounts payable and accrued liabilities, other payables, and operating lease liabilities. The Company received $141,088 as deposit from an unrelated third party to secure a potential joint venture with the Company.





                              Year Ended      Year Ended
                              March 31,        March 31,
                                 2020            2019
Revenue                      $          -     $         -
Operating Expenses
General and administrative        158,412         214,852
Professional fees                  47,939          48,473
Total Operating Expenses          206,351         263,325
Loss from Operations         $    206,351     $  (263,325 )




Revenues

The Company has generated no operating revenues during the years ended March 31, 2020 and 2019.





Operating expenses

For the year ended March 31, 2020, total operating expenses were $206,351 which consisted of general and administrative fees and professional fees. For the year ended March 31,2019, total operating expenses were $263,325 which consisted of general and administrative fees and professional fees. The decrease in operating expense was due to the decrease in general and administrative fees, which mainly resulted from lessor daily expenditure occurred, such as the travelling expense, entertainment expense,etc, for the year ended March 31, 2020.






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Liquidity and Capital Resources





Working Capital



                                As of            As of
                              March 31,        March 31,
                                 2020             2019
Current Assets               $      1,721     $      7,558
Current Liabilities          $  1,675,918     $  1,423,662
Working Capital Deficiency   $ (1,674,197 )   $ (1,416,104 )

As of March 31, 2020, the Company had a working capital deficiency of $1,674,197 compared with working capital deficiency of $1,416,104 as of March 31, 2019. The increase in working capital deficiency was primarily attributed to the increase in current liabilities due to an increase in account payable and notes payable to the President of the Company.





Cash Flows



                                                   Year Ended      Year Ended
                                                   March 31,        March 31,
                                                      2020            2019

Cash Used in Operating Activities                 $    (39,870 )   $  (317,633 )
Cash Flows from Investing Activities              $          -     $         -
Cash Flows from Financing Activities              $     39,532     $   250,092

Effects on changes in foreign exchange rate $ 594 $ 13,006 Net (Decrease)/Increase in Cash During the Year $ 256 $ (54,535 )

Cash Flows Used in Operating Activities

During the year ended March 31, 2020, the Company had $39,870 in cash used in operating activities which was mainly attributed to loss from operations of $207,316 partially offset by decrease in other receivable of $2,297 and increase in accounts payable and accrued liabilities of $15,255, compared to cash used in operating activities of $317,633 during the year ended March 31, 2019. The decrease in cash used for operating activities was due to the decrease in net loss and increase in accounts payable, accrued liabilities, operating lease liabilities, and other payables for the year ended March 31, 2020. Other payables consist of $138,045 received as deposit from an unrelated third party to secure a potential joint venture with the Company.






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Cash Flows from Investing Activities

During the years ended March 31, 2020 and 2019, the Company used no cash in investing activities.

Cash Flows from Financing Activities

During the years ended March 31, 2020 and 2019, the President had advanced the Company $145,647 for operating expenses, received $119,981 from the Company as repayments, and collected $12,555 on behalf of the Company as a deposit for a potential joint venture. During the years ended March 31, 2020 and 2019, the repayment of unrelated party short-term loan was $1,436 and $0 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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