Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 167

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 167
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----|:----------|:--|:----|:----------|--------:|
| PJMG LLC                      |     | Ruifeng Guo (CFO) owns over 50% equity interest of this entity |     | Loan payable |     | $         | - |     | $         | 150,000 |
| Loan Payables-related parties |     |                                                                |     |              |     | $         | - |     | $         | 150,000 |

On February 1, 2023, PJMG LLC (“PJMG”),
a company in which Mr. Guo, the Company’s CFO, holds over % of the equity interests, provided a loan of $ to the Company
(the “PJMG Loan”). The PJMG Loan was unsecured, bore no interest and was set to mature on May 31, 2024. Furthermore, the Company
has agreed to retain the services of PJMG as a consultant following the completion of its IPO. To secure these services, the Company prepaid
a total of $ to PJMG during the year ended March 31, 2024, of which $ was applied to offset the PJMG Loan. The remaining
prepayments balance was $ as of March 31, 2024, and it will be used from June 2024. See Note 13 - Prepayments and other receivables
- related parties.

F-31

(B) Related party transactions

Revenues - related party

|                          | Name of Related Party |                                                            | Relationship |               | Nature | For the Years ended 
 March 31,           |    2024 |     |   |    2023 |
|:-------------------------|:----------------------|:-----------------------------------------------------------|:-------------|:--------------|:-------|:--------------------|--------:|:----|:--|--------:|
| Fly E Bike SRL           |                       | Zhou Ou (CEO) owns over 50% equity interest of this entity |              | Product sales |        | $                   | 326,914 |     | $ | 136,565 |
| Revenues-related parties |                       |                                                            |              |               |        | $                   | 326,914 |     | $ | 136,565 |

During the years ended March 31, 2024 and 2023,
Fly E Bike SRL purchased certain EV products from the Company in the amount of $ and $, respectively.

(C) Other Related Party Transactions

(i)