Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 210

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 210
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 Ended 
 December 31               |   2024 |     |   |    2023 |
|:---------------------------|:----------------------|:------------------------------------------------------------|:-------------|:--------------|:-------|:--------------------------|-------:|:----|:--|--------:|
| Fly E Bike SRL             |                       | Zhou Ou (CEO), owns over 50% equity interest of this entity |              | Product sales |        | $                         | 47,785 |     | $ | 309,484 |
| Revenues - related parties |                       |                                                             |              |               |        | $                         | 47,785 |     | $ | 282,814 |

During the nine months ended December 31, 2024
and 2023, Fly E Bike SRL, a distributor the Company works with and in which Mr. Ou holds over % of the equity interest, purchased certain
EV products from the Company in the amount of $ and $, respectively.

F-62

Purchase of Intangible Assets - related parties

| Name of Related Party                           
 DF Technology US Inc                            |     | Relationship                                                                                            
 Ruifeng Guo (former CFO who resigned on November 6, 2024), owns over 50% equity interest of this entity |     | Nature               
 Purchase of Software |     | December 31, 
 2024         | 500,000 |     | March 31, 2024 | - |
|:------------------------------------------------|:----|:--------------------------------------------------------------------------------------------------------|:----|:---------------------|:----|:-------------|--------:|:----|:---------------|:--|
| Purchase of Intangible Assets - related parties |     |                                                                                                         |     |                      |     | $            | 500,000 |     | $              | - |

In December 2023, the Company engaged DFT for
development of certain technology services. Mr. Guo, the Company’s former CFO who resigned on November 6, 2024, owns over % of
the equity interest in DFT. In July 2024, the Company engaged DFT for development of a new APP, GO FLY APP, for the rental business. The
total contract price for the GO FLY APP is $, and the GO FLY APP was delivered on September 5, 2024.

(C) Other Related Party Transactions

On March 6, 2021, the Company and DGLG entered into an engagement letter