Company: FLYE
Filing Date: 2025-05-05
Form Type: S-1/A
Source: 0001213900-25-039419
Chunk: 209

Company: Fly-E Group, Inc.
Filing Date: 2025-05-05
Form: S-1/A
Chunk 209
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,580 |     | March 31, 
 2024      | 1,279,000 |
|:---------------------------------------------------------------------|:----|:--------------------------------------------------------------------------------------------------------|:----|:----------------------------------------------|:----|:-------------|--------:|:----|:----------|----------:|
| Long-term prepayment for software development - related parties, net |     |                                                                                                         |     |                                               |     | $            | 536,580 |     | $         | 1,279,000 |

F-61

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. As of December 31, 2024 and March 31, 2024, the Company paid $ and $ to DFT as prepayment
for software development, respectively. As of December 31, 2024 and March 31, 2024, construction in progress was $ and $,
respectively (see Note 5 - Property and Equipment).

Other payables - related parties

| Name of Related Party          |     | Relationship                 |     | Nature        |     | December 31, 
 2024(i)      |   |     | March 31, 2024(i) |        |
|:-------------------------------|:----|:-----------------------------|:----|:--------------|:----|:-------------|:--|:----|:------------------|-------:|
| Zhou Ou                        |     | Chairman, CEO of the Company |     | Other payable |     | $            | - |     | $                 | 92,229 |
| Other Payables-related parties |     |                              |     |               |     | $            | - |     | $                 | 92,229 |

| (i) | Represents the remaining balance of the advance provided                                                    
 by the related party to the Company’s subsidiaries for the purpose of supporting their business operations. |

All of the above payables are unsecured, non-interest
bearing, and due on demand. The Company paid a total of $ and $ to Mr. Zhou Ou during the nine months ended December 31,
2024 and 2023, respectively.

(B) Related party transactions

Revenues - related parties

|                            | Name of Related Party |                                                             | Relationship |               | Nature | For the Nine Months