Yijia Group Corp. Files Q2 2024 10-Q

TL;DR

Yijia Group Corp. 10-Q filed: Financials for July 2024 quarter out. Check balance sheet details.

AI Summary

Yijia Group Corp. filed its 10-Q for the period ending July 31, 2024. The filing details financial information for the quarter and year-to-date, including balance sheet items like common stock, additional paid-in capital, shares to be issued, and retained earnings for both 2024 and 2023 fiscal periods. The company's fiscal year ends on April 30.

Why It Matters

This filing provides investors with a quarterly update on Yijia Group Corp.'s financial health and performance, crucial for understanding its current standing and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures without immediate red flags.

Key Numbers

• 2024-07-31 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 2024-09-10 — Filing Date (Shows when the company submitted this quarterly report to the SEC.)
• 0430 — Fiscal Year End (Defines the company's annual financial reporting cycle.)

Key Players & Entities

• YIJIA GROUP CORP. (company) — Filer of the 10-Q
• 20240731 (date) — End of the reporting period
• 20240910 (date) — Filing date
• 0430 (date) — Fiscal year end

FAQ

Key Financial Figures

• $1 — 100 shares of common stock, par value $1 per share 100 % YJGJ and its subsid
• $0.05 — al Officer - Steve Niu at fair value of $0.05 per share, subject to vesting condition

Filing Documents

• yijia_i10q-073124.htm (10-Q) — 366KB
• yijia_ex3101.htm (EX-31.1) — 9KB
• yijia_ex3102.htm (EX-31.2) — 10KB
• yijia_ex3201.htm (EX-32.1) — 5KB
• 0001683168-24-006282.txt ( ) — 2534KB
• yjgj-20240731.xsd (EX-101.SCH) — 23KB
• yjgj-20240731_cal.xml (EX-101.CAL) — 31KB
• yjgj-20240731_def.xml (EX-101.DEF) — 56KB
• yjgj-20240731_lab.xml (EX-101.LAB) — 203KB
• yjgj-20240731_pre.xml (EX-101.PRE) — 162KB
• yijia_i10q-073124_htm.xml (XML) — 261KB

Financial Statements

Financial Statements 3 Unaudited Condensed Consolidated Balance Sheets as of July 31, 2024 and April 30, 2024 4 Unaudited Condensed Consolidated Statements of Operations for the Three Months ended July 31, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Changes in Shareholders' Equity (Deficit) for the Three Months Ended July 31, 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months ended July 31, 2024 and 2023 7 Notes to the Unaudited Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 15 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 19 PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 20 Item 1A

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5. Other Information 20 Item 6. Exhibits 20

Signatures

Signatures 21 2 PART 1 – FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS The accompanying interim consolidated financial without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with United States generally accepted principles have been condensed or omitted pursuant to such rules and regulations. The interim consolidated financial statements are condensed and should be read in conjunction with the Company's latest annual consolidated financial statements. In the opinion of management, the consolidated financial statements contain all material adjustments, consisting only of normal adjustments considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented. 3 YIJIA GROUP CORP. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS July 31, 2024 April 30, 2024 (Unaudited) ASSETS Current assets: Cash $ 141,635 $ 593,036 Inventories 213,463 132,873 Advances to vendors 840,262 460,870 Other current assets 5,491 6,079 Total current assets 1,200,851 1,192,858 TOTAL ASSETS $ 1,200,851 $ 1,192,858 LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT) Current Liabilities: Accounts payable and accrued expenses $ 67,249 $ 60,749 Other current liabilities 1,859 8,302 Amounts due to related parties 55,600 3,000 Income tax payable 74,666 64,869 Total current liabilities 199,374 136,920 TOTAL LIABILITIES 199,374 136,920 Commitments and Contingencies – – Shareholders' equity: Ordinary shares, $ 0.001 par value; 75,000,000 shares authorized; 25,012,270 shares issued and outstanding as of July 31 and April 30, 2024 25,012 25,012 Additional paid in capital 1,012,971 1,012,971 Shares to be issued – 35,000 and 20,000 shares of ordinary s

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS NOTE 1 – ORGANIZATION AND NATURE OF

BUSINESS

BUSINESS Yijia Group Corp. ("the Company" or "YJGJ") was incorporated on January 25, 2017 under the laws of the State of Nevada, United States of America, formerly known as Soldino Group Corp. The Company has currently commenced its operation in the rendering of consulting advisory services in management business, accounting and finance services; and provides healthcare products and health consultation services to domestic and international customers. The details of the Company's subsidiary are described below: Schedule of details of company subsidiary Name Place of incorporation and kind of legal entity Principal activities and place of operation Particulars of issued/ registered share capital Effective interest Held Nutripeak Trading Corporation ("NTC") Marketing and supplying healthcare products 100 shares of common stock, par value $1 per share 100 % YJGJ and its subsidiary are hereinafter referred to as (the "Company"). NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by management in accordance with both accounting principles generally accepted in the United States ("GAAP"), and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Certain information and note disclosures normally included in audited consolidated financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to those rules and regulations, although the Company believes that the disclosures made are adequate to make the information not misleading. The unaudited condensed consolidated financial statements are presented in US dollars, which is the Company's functional currency. In the opinion of management, the condensed balance sheet as of April 30, 2024 which has been derived from audited consolidated financial statem

financial statements and accompanying notes. Actual results could differ from those estimates

financial statements and accompanying notes. Actual results could differ from those estimates. Significant areas for which management uses estimates include: sales returns at point in time and allowances; inventory; income tax valuation allowances These estimates require the use of judgment as future events, and the effect of these events cannot be predicted with certainty. The estimates will change as new events occur, as more experience is acquired and as more information is obtained. We evaluate and update our assumptions and estimates on an ongoing basis and we may consult outside experts to assist as considered necessary. Revenue Recognition identify the contract with a customer; identify the performance obligations in the contract; determine the transaction price; allocate the transaction price to performance obligations in the contract; and recognize revenue as the performance obligation is satisfied. Currently, the Company operates in two business segments. The Consulting Service Segment mainly provides consulting advisory services in management, business, accounting and finance; and the Healthcare Segment mainly provides healthcare products and health consultation services to customers. The sale and distribution of healthcare products, such as Nicotinamide Riboside capsules, has only one performance obligation under the fixed-fee arrangements. Revenue is recognized from the sale of their healthcare products upon delivery to the customers, whereas the title and risk of loss are fully transferred to customers. 9 Shipping term under Ex Works ("EXW"), the Company fulfills the obligation to deliver when the products are available on their premises, i.e. the warehouse. Customers are responsible for all transportation costs, risk of loss, and any other costs that point onward. Revenue is earned from the rendering of consulting advisory services to customers. The Company recognizes services revenue over the period in which such services a

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of our results of operations and financial condition should be read together with our unaudited condensed consolidated financial statements and the notes thereto, which are included elsewhere in this report and our Annual Report on Form 10-K for the fiscal year ended April 30, 2024 (the "Annual Report") filed with SEC. Our financial statements have been prepared in accordance with U.S. GAAP. In addition, our financial statements and the financial information included in this report reflect our organizational transactions and have been prepared as if our current corporate structure had been in place throughout the relevant periods. Forward looking statement notice historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate," "approximate" or "continue," or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such st

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