Company: FLYE
Filing Date: 2025-12-18
Form Type: 10-Q
Source: 0001213900-25-123281
Chunk: 94

Company: Fly-E Group, Inc.
Filing Date: 2025-12-18
Form: 10-Q
Item: Item 1
Chunk 94
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  September 30, 

    2025  
    2024 
  
    Net Cash Used in Operating Activities 
    $(7,707,529) 
    $(9,412,145)
  
    Net Cash Used in Investing Activities 
     (452,040) 
     (2,845,468)
  
    Net Cash Provided by Financing Activities 
     9,803,019  
     12,126,060 
  
    Net changes in cash including cash classified within current assets held for sale 
    $1,643,450  
    $(131,553)

Operating Activities

Net cash used in operating activities for the
six months ended September 30, 2025 was $7.7 million, which was due to net loss of $3.8 million, a decrease in accounts payable
of $0.7 million, a decrease of accrued expenses and other payables of $0.8 million, an increase in accounts receivable of $1.0 million,
an increase in inventory of $1.1 million, an increase in prepayments and other receivables of $1.4 million, and decrease in operating
lease liabilities of $2.7 million partially offset by amortization of right-of-use assets of $2.7 million,  depreciation expenses
of $0.4 million, and inventories impairment loss of $0.6 million provided during the six months ended September 30, 2025.

Net cash used in operating activities for the
six months ended September 30, 2024 was $9.4 million, which was due to net loss of $1.3 million, a decrease in tax payable of
$1.5 million, and a decrease in accrued expenses and other payables of $0.4 million, an increase in inventories of $3.6 million,
a decrease in account payable of $0.8 million, a decrease in operating lease liabilities of $1.5 million, and an increase in prepayments
and other receivables of $1.8 million, partially offset by amortization of right-of-use assets of $1.7 million and a decrease in
accounts receivables-related parties of $0.2 million.

Investing Activities

Net cash used in investing activities was $0.5 million
for the six months ended September 30, 2025, which was due to purchase