Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 484

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1C
Chunk 484
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 system which was valued at $2,310,000 and treated that part as computer hardware
and software and started for depreciation. As of March 31, 2025, the Company paid $136,580 to DFT as prepayment for software development.  

We source a significant portion of our vehicle
components from China and the United States, and then assemble them into our vehicles in a facility located in Maspeth, New York.
For the year ended March 31, 2025, we produced 4,595 E-motorcycles, 5,974 E-bikes and 1,557 E-scooters at the same facility.

Recent Developments

See “Item 1. Business
— Recent Developments.”

Key Factors that Affect Operating Results

Our results of operations and financial condition
are affected by the general factors driving the U.S.’s electric two-wheeled vehicles industry, including, among others, the U.S.’s
overall economic growth, the increase in per capita disposable income, the expansion of urbanization, the growth in consumer spending
and consumption upgrades, the competitive environment, governmental policies and initiatives towards electric two-wheeled vehicles, as
well as the general factors affecting the electric two-wheeled vehicles industry in overseas markets. Unfavorable changes in any of these
general industry conditions could negatively affect demand for our products and materially and adversely affect our results of operations.

While our business is influenced by these general
factors, our results of operations are more directly affected by company specific factors, including the following major factors:

New Customers

Our growth will depend on our ability to achieve
sales targets, including our ability to attract new customers, which in turn depends in part on our ability to execute our retail strategy
and produce effective marketing initiatives to expand our brand perception with prospective customers. As of July 15, 2025, we have 20
stores, including 19 retail stores in the U.S and one retail store in Canada. We offer rental services from selected locations.
We also operate one online store, focusing on selling E-motorcycles, E-bikes, and E-scooters and selling our product in the United States.
It is critical for us to successfully manage production ramp-up and quality control to deliver to customers in adequate volume and quality.

With respect to branding and marketing, we plan
to raise brand awareness through both traditional and social media channels and connect with customers through physical touchpoints such
as our retail