Quarterly Report for Quarter Ending July 31, 2025 (Form 10-Q)

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, 2025 (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

Statements made in this Form 10-Q that are not 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 statement or to reflect the occurrence of anticipated or unanticipated events.

Financial information contained in this report and in our financial statements is stated in United States dollars and are prepared in accordance with United States generally accepted accounting principles.

Corporate Overview

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.

Meanwhile, the Company continues to look for other opportunities which could potentially increase the profits of the Company in 2025.

Results of Operations

We currently provide business consulting services and market and supply healthcare products to domestic and international customers..

The following table sets forth certain operational data for the three months ended July 31, 2025 and 2024:

		Three Months Ended July 31,
		2025				2024
Revenues		$	103,899			$	108,477
Cost of revenue			(35,118	)			(35,304	)
Gross profit			68,781				73,173
Total operating expenses			(101,221	)			(118,587	)
Loss before income tax			(32,440	)			(45,414	)
Income tax expense			(13,861	)			(9,797	)
Net loss		$	(46,301	)		$	(55,211	)

Revenue

For the three months ended July 31, 2025 and 2024, we generated revenues of $103,899 and $108,477, respectively. Our major customers are located in Hong Kong and the United States of America. Our revenue decreased by $4,578, or 4%, respectively.

During the three ended July 31, 2025 and 2024, the nature of businesses and segment was shown as below:

Currently, the Company has two reportable business segments:

(i)	Consulting Service Segment, mainly provides consulting advisory services in management business, accounting and financial services; and
(ii)	Healthcare Segment, mainly provides healthcare products and healthcare consultation services to the customers.

In the following table, revenue is disaggregated by primary major product line, including a reconciliation of the disaggregated revenue with the reportable segments. For the three months ended July 31, 2025 and 2024, healthcare segment did not generate any revenue, and all the revenue was generated from consulting services segment.

		Three Months ended July 31, 2025
		Healthcare Segment				Consulting Service Segment				Total
Revenue from external customers:
Consulting service income		$	-			$	4,225			$	4,225
Sale of healthcare products			99,674				-				99,674
Total revenue			99,674				4,225				103,899
Cost of revenue:
Consulting service income			-				-				-
Sale of healthcare products			(35,118	)			-				(35,118	)
Total cost of revenue			(35,118	)			-				(35,118	)
Gross profit			64,556				4,225				68,781
Operating Expenses
Personal and benefit costs			(11,740	)			(23,188	)			(34,928	)
General and administrative			(2,414	)			(63,879	)			(66,293	)
Total operating expenses			(14,154	)			(87,067	)			(101,221	)
Segment income (loss)		$	50,402			$	(82,842	)		$	(32,440	)

		Three Months ended July 31, 2024
		Healthcare Segment				Consulting Service Segment				Total
Revenue from external customers:
Consulting service income		$	-			$	-			$	-
Sale of healthcare products			108,477				-				108,477
Total revenue			108,477				-				108,477
Cost of revenue:
Consulting service income			-				-				-
Sale of healthcare products			(35,304	)			-				(35,304	)
Total cost of revenue			(35,304	)			-				(35,304	)
Gross profit			73,173				-				73,173
Operating Expenses
Selling and distribution			(7,030	)			-				(7,030	)
Personal and benefit costs			(18,739	)			(35,245	)			(53,984	)
General and administrative			(751	)			(56,822	)			(57,573	)
Total operating expenses			(26,520	)			(92,067	)			(118,587	)
Segment income (loss)		$	46,653			$	(92,067	)		$	(45,414	)

The revenues presented below are based on the countries in which the customers are located. Summarized financial information concerning the geographic segments is shown in the following tables:

		Three Months ended July 31,
		2025				2024
Hong Kong		$	-			$	108,477
United States of America			103,899				-
		$	103,899			$	108,477

Cost of revenue

Cost of revenue as a percentage of net revenue was approximately 34% and 33% for the three months ended July 31, 2025 and 2024, respectively. Cost of revenue decreased by $186, or 1%.

Gross profit

For the three months ended July 31, 2025 and 2024, the gross profit was $68,781 and $73,173, respectively, and the gross profit margin was 66% and 67%, respectively.

Personnel and benefit costs

We incurred personnel and benefit costs of $34,928 and $53,984 for the three months ended July 31, 2025 and 2024, respectively. The decrease in personnel and benefit costs for the periods ended July 31, 2025, compared to the same periods in 2024, is primarily attributable to the decrease in the salaries of key management personnel.

General and administrative expenses

We incurred general and administrative expenses of $66,293 and $57,573 for the three months ended July 31, 2025 and 2024, respectively. General and administrative expenses increased by $8,721 or 15% for the three months ended July 31, 2025 compared to the same periods in 2024. The increase in general and administrative expenses is primarily attributable to an increase in legal and professional fees.

Net loss

As a result of the factors described above, we reported net loss of $46,301 and $55,211 for the three months ended July 31, 2025 and 2024, respectively.

Liquidity and capital resources

On July 31, 2025, we had total current assets of $2,242,358, which consisted primarily of $1,046,620 in cash, $1,014,282 in accounts receivable, $158,802 in advances to vendor, $9,130 in inventories, $10,083 in prepayment and $3,441 in other current assets. We had total current liabilities of $379,975, which consisted of $67,431 in accounts payable and accrued expenses, $1,226 in other current liabilities, $10,775 in deferred revenue and $300,543 in income tax payable.

On April 30, 2025, we had total current assets of $2,256,251, which consisted primarily of $782,810 in cash, $1,266,951 in accounts receivable, $158,802 in advances to vendor, $44,247 in inventories and $3,441 in other current assets. We had total current liabilities of $347,567, which consisted of $60,065 in accounts payable and accrued expenses, $820 in other current liabilities and $286,682 in income tax payable.

We have never paid dividends on our Common Stock. Our present policy is to apply cash to investments in product development, acquisitions or expansion; consequently, we do not expect to pay dividends on Common Stock in the foreseeable future.

Cash Flows

The following table sets forth a summary of our cash flows for the periods indicated:

		Three Months ended July 31,
		2025				2024
Net cash provided by (used in) operating activities		$	263,810			$	(504,001	)
Net cash provided by financing activities			-				52,600

Operating Activities

For the three months ended July 31, 2025, net cash provided by operating activities was $263,810 which consisted primarily of a net loss of $46,301, decrease in accounts receivable of $252,669, decrease in inventories of $35,117, increase in deferred revenue of $10,775, increase in other current liabilities of $406, increase in accounts payable and accrued expenses of $7,366 and increase in income tax payable of $13,861. The amounts were partially offset by increase in prepayment of $10,083.

For the three months ended July 31, 2024, net cash used in operating activities was $504,001 which consisted primarily of a net loss of $55,211, decrease in inventory of $80,590, decrease in advances to vendor of $379,392, and decrease in other current liabilities of $6,443. The amounts were partially offset by adjusted non-cash item consisting of share-based compensation of $750, increase in other current assets of $588, increase in accounts payable and accrued expenses of $6,500, and increase in income tax payable of $9,797.

Financing Activities

For the three months ended July 31, 2025, net cash provided by financing activities was $0.

For the three months ended July 31, 2024, net cash provided by financing activities was $52,600, which consisted primarily of proceed from a director.

Limited operating history; need for additional capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are in a start-up stage of operations and have generated limited revenues since inception. 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 and possible cost overruns due to price and cost increases in services and products.

Off-Balance Sheet Arrangements

As of July 31, 2025, the Company did not have any off-balance sheet arrangements that had or were reasonably likely to have a current or future effect on the Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

Contractual Obligations and Commercial Commitments

We had no contractual obligations and commercial commitments as of July 31, 2025.