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 $285,847 in expenses for the year ended March 31, 2021.

The following table provides selected financial data about our company as of March 31, 2021 and 2020.





                         March 31,        March 31,
                            2021             2020
Cash                    $        300     $        775
Total Assets                  81,630          118,940
Total Liabilities          2,024,937        1,721,723
Stockholders' Deficit   $ (1,943,307 )   $ (1,602,783 )

As of March 31, 2021, the Company's cash balance was $300 compared to $775 as of March 31, 2020, and our total assets as of March 31, 2021, were $81,630 compared with $118,940 as of March 31, 2020. The decrease in total assets was due to the lessor operating lease right of use asset, net recognized as of March 31, 2021.

As of March 31, 2021, the Company had total liabilities of $2,024,937 compared with total liabilities of $1,721,723 as of March 31, 2020. 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 accounts payable and accrued liabilities, other payables.





                             Year Ended      Year Ended
                              March 31,       March 31,
                                2021            2020
Revenue                      $         -     $         -

Operating Expenses General and administrative 211,426 158,412 Professional fees

                 75,055          47,939

Total Operating Expenses 286,481 206,351 Loss from Operations $ (286,481 ) $ (206,351 )






Revenues

The Company has generated no operating revenues during the years ended March 31, 2021 and 2020.





Operating expenses

For the year ended March 31, 2021, total operating expenses were $286,481 which consisted of general and administrative fees and professional fees. For the year ended March 31,2020, total operating expenses were $206,351 which consisted of general and administrative fees and professional fees. The increase in operating expense was mainly due to the increase in both general and administrative expense and professional fees which mainly resulted from more consulting expenditure occurred and the increase in brokerage fees for the year ended March 31, 2021.






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Liquidity and Capital Resources





Working Capital



                                As of            As of
                              March 31,        March 31,
                                 2021             2020
Current Assets               $      1,995     $      1,721
Current Liabilities          $  2,024,936     $  1,675,918
Working Capital Deficiency   $ (2,022,941 )   $ (1,674,197 )

As of March 31, 2021, the Company had a working capital deficiency of $2,022,941 compared with working capital deficiency of $1,674,197 as of March 31, 2020. 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,
                                                     2021             2020

Cash Used in Operating Activities                 $  (348,186 )   $    (39,870 )
Cash Flows from Investing Activities              $         -     $          -
Cash Flows from Financing Activities              $   347,678     $     39,532

Effects on changes in foreign exchange rate $ 33 $ (338 ) Net (Decrease)/Increase in Cash During the Year $ (475 ) $ 594

Cash Flows Used in Operating Activities

During the year ended March 31, 2021, the Company had $348,186 in cash used in operating activities which was mainly attributed to loss from operations of $286,314, a decrease in account payable of $80,421 and a decrease in operating lease liability of $66,953 partially offset by the depreciation of $73,040, compared to cash used in operating activities of $39,870 during the year ended March 31, 2020. The increase in cash used for operating activities was due to the increase in net loss and decrease in accounts payable, operating lease liabilities, and other payables for the year ended March 31, 2021.






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Cash Flows from Investing Activities

During the years ended March 31, 2021 and 2020, the Company used no cash in investing activities.

Cash Flows from Financing Activities

Financing activities for both 2021 and 2020 mainly referred to the proceeds from related party for operating.

Mr. Jiang Libin advanced $347,678 and $39,532 to the Company for the years ended March 31, 2021 and 2020 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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