Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 901

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 4
Chunk 901
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 payables of $0.3 million, offset by an increase in inventories of $2.0
million, and a decrease in operating lease liabilities of $1.9 million.

Investing Activities

Net cash used in investing
activities was $2.9 million for the year ended March 31, 2025, which was due to purchase of properties and equipment  of $1.6
million, purchase of GO FLY App and computer hardware and software from a related party of $1.4 million, and the advance to a related
party of $0.5 million, and partially offset by the repayment from a related party of $0.7 million.

41

Net cash used in investing activities was $3.2 million for the year
ended March 31, 2024, which was due to purchase of software from a related party of $1.3 million, the purchase of equipment of $1.3 million,
advance to related parties of $0.3 million, a prepayment for purchase of property of $0.5 million and the purchase of property rights
of $0.03 million, offset by repayment from related parties of $0.1 million.

Financing Activities

Net cash provided by financing activities was
$12.5 million for the year ended March 31, 2025, which consisted of net proceeds from the IPO of $9.2 million, and loan proceeds
of $7.4 million, partially offset by repayments of loans of $3.7 million and payment of IPO costs of $0.3 million.

Net cash used in financing activities was $0.05 million for the year
ended March 31, 2024, which consisted of deferred IPO cost of $0.2 million, repayments of loan payables of $0.6 million, repayments to
former related parties on other payables of $0.3 million and payments of former related party loan of $0.2 million, offset by borrowings
from loan payable of $1.1 million and capital contributions from stockholders of $0.1 million.

Commitments and Contractual Obligations

The following table presents
our material contractual obligations as of March 31, 2025:

    Contractual Obligations 
    Total  
    Less than  1 year  
    1 – 2 years  
    3 – 5 years  
    Thereafter 
  
    Operating