Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 2461

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 13
Chunk 2461
---
 Company’s ability to maintain current levels of gross margin and operating expenses as a percentage
of sales revenue if the revenues do not increase with such increased costs.

F-29

13 — RELATED PARTY TRANSACTIONS

(A) Related party balances

Accounts receivable, net — related
parties

  Name of Related Party  Relationship  Nature  March 31,  2025   March 31,  2024   Fly E Bike SRL  Zhou Ou (CEO), owns over 50% equity interest of this entity  Accounts receivable  $78,565   $326,914   Accounts receivable – related parties         78,565    326,914   Less: Allowance for credit loss         41,100    —   Accounts receivable, net - related parties        $37,465   $326,914  

During the year ended March 31, 2025, the Company
received $290,359 from Fly E Bike SRL. The Company accrued $41,100 credit losses during the year ended March 31, 2025.

Prepayments and other receivables — related
parties

  Name of Related Party  Relationship  Nature  March 31,  2025   March 31,  2024   Fly E Bike SRL  Zhou Ou (CEO), owns over 50% equity interest of this entity  Other receivables  $—   $180,256   PJMG LLC  Ruifeng Guo (former CFO who resigned on November 6, 2024), owns over 50% equity interest of this entity  Prepayments   120,000    60,000   Prepayments and other receivables – related parties        $120,000   $240,256  

During the year ended March 31, 2025, the Company
advanced nil to Fly E Bike SRL, a distributor the Company works with and in which Mr. Ou holds over 50% of the equity interest. This advance
is unsecured, bears no interest and does not have a maturity date. On June 12, 2024, the Company received $180,256 from Fly E Bike SRL.
On April 1, 2023, the Company agreed to retain the services of PJ