Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 192

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 192
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 $ million and $ million, respectively. The increase in prepayments to vendors was primarily due to the
Company’s anticipation of growth in future sales and rental services. The Company plans to purchase more E-vehicles and related
accessories from oversea vendors to support the expansion in retail and rental markets. These prepayments to vendors are expected to be
settled by the end of March 2025.

5 - PROPERTY AND EQUIPMENT, NET

Property and equipment as of December 31, 2024 and March 31, 2024 consisted
of the following:

|                                   |     |   | December 31, 
         2024 |   |     |   | March 31, 
      2024 |   |
|:----------------------------------|:----|:--|-------------:|:--|:----|:--|----------:|:--|
| Furniture & Fixtures              |     | $ |      419,950 |   |     | $ |   400,558 |   |
| Machinery & Equipment             |     |   |      267,477 |   |     |   |   212,317 |   |
| Automobile                        |     |   |      669,909 |   |     |   |   306,607 |   |
| Leasehold improvements            |     |   |      963,759 |   |     |   |   976,870 |   |
| Building                          |     |   |    3,663,215 |   |     |   |         - |   |
| Construction in progress-Software |     |   |    1,910,000 |   |     |   |   275,000 |   |
| Properties for rental business    |     |   |       65,618 |   |     |   |         - |   |
| Property and Equipment            |     |   |    7,959,928 |   |     |   | 2,171,352 |   |
| Less: Accumulated depreciation    |     |   |     (727,239 | ) |     |   |  (416,330 | ) |
| Property and Equipment, net       |     | $ |    7,232,689 |   |     | $ | 1,755,022 |   |

For the nine months ended December 31, 2024 and
2023, the depreciation expenses were $ and $