Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 67

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1
Chunk 67
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 Our accounts payable turnover period increased to 33 days for the year
ended March 31, 2025 from 25 days for the year ended March 31, 2024, which was primarily the result of longer payment cycles.

40

Our prepayments and other receivables primarily
represent prepayments to vendors and other service providers. These prepayments and receivables increased by $3.1 million, from $0.6
million as of March 31, 2024, to $3.7 million as of March 31, 2025. This significant increase is mainly due to the launch of Company’s
E-bike rental services, which required additional inventory. As a result, during the year ended March 31, 2025, the Company made substantial
prepayments to vendors to secure inventory for the new services.

Our inventories primarily include our EVs, their
accessories and spare parts. As of March 31, 2025 and 2024, our inventories, net of allowance, were $6.4 million and $5.4 million,
respectively. The increase in inventories was primarily due to our preparation for the new rental business. Our inventory turnover days
increased to 143 days in the year ended March 31, 2025, from 89 days in the year ended March 31, 2024, which was primarily due to
strategic inventory buildup, allowing us to start new services.

As of March 31, 2025 and
2024, the total outstanding amount of loan principal was $7.4 million and $1.6 million, respectively. For the year ended March 31, 2025
and 2024, the interest expenses on our outstanding loans amounted to $405,615 and $152,050, respectively. See Note 8 to the Consolidated
Financial Statements included within this annual report for further information on details of our outstanding loans.

The following table summarizes our cash flow
data for the years ended March 31, 2025 and 2024:

    For the Year Ended  March 31, 

    2025  
    2024 
  
    Net Cash (Used in) Provided by Operating Activities 
    $(10,059,466) 
    $4,308,920 
  
    Net Cash Used in Investing Activities 
     (2,901,272) 
     (