Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 2368

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 12
Chunk 2368
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Other payables — related parties

  Name of Related Party  Relationship  Nature  March 31,  2025(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 $92,229 and $290,252 to Mr. Zhou Ou during the years ended March 31, 2025 and
2024, respectively.

(B) Related party transactions  

Revenues — related parties

           For the Years Ended March 31   Name of Related Party  Relationship  Nature  2025   2024   Fly E Bike SRL  Zhou Ou (CEO), owns over 50% equity interest of this entity  Product sales  $42,010   $326,914   Revenues — related parties        $42,010   $326,914  

During the years ended March 31, 2025 and 2024,
Fly E Bike SRL, a distributor the Company works with and in which Mr. Ou holds over 50% of the equity interest, purchased certain
EV products from the Company in the amount of $42,010 and $326,914, respectively.

Purchase of Intangible Assets — related
parties

  Name of Related Party   Relationship   Nature   March 31, 
2025     March 31, 2024    DF Technology US Inc   Ruifeng Guo (former CFO who resigned on November 6, 2024), owns over 50% equity interest of this entity   Purchase of Software   $ 500,000     $ —    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
50% of the equity interest in DFT