Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 499

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1C
Chunk 499
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 to our preparation for the new rental business. Our inventory turnover days
increased to 143 days in the year ended March 31, 2025, from 89 days in the year ended March 31, 2024, which was primarily due to
strategic inventory buildup, allowing us to start new services.

As of March 31, 2025 and
2024, the total outstanding amount of loan principal was $7.4 million and $1.6 million, respectively. For the year ended March 31, 2025
and 2024, the interest expenses on our outstanding loans amounted to $405,615 and $152,050, respectively. See Note 8 to the Consolidated
Financial Statements included within this annual report for further information on details of our outstanding loans.

The following table summarizes our cash flow
data for the years ended March 31, 2025 and 2024:

    For the Year Ended  March 31, 

    2025  
    2024 
  
    Net Cash (Used in) Provided by Operating Activities 
    $(10,059,466) 
    $4,308,920 
  
    Net Cash Used in Investing Activities 
     (2,901,272) 
     (3,200,843)
  
    Net Cash Provided by (Used in) Financing Activities 
     12,486,104  
     (49,628)
  
    Net changes in cash including cash classified within current assets held for sale 
    $(474,634) 
    $1,058,449 

Operating Activities

Net cash used in operating
activities for the year ended March 31, 2025 was $10.1 million, which was due to net loss of $5.3 million, a decrease in tax
payable of $1.5 million, an increase in inventories of $2.7 million, a decrease in operating lease liabilities of $4.8 million, and
an increase in prepayments and other receivables of $2.7 million, partially offset by amortization of right-of-use assets of $5.1
million, an increase in accrued expenses and other payables of $0.5 million, and a decrease in accounts receivables-related parties of
$0.2 million.

Net cash provided by operating activities for
the year ended March 31, 2024