Company: FLYE
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078571
Chunk: 29

Company: Fly-E Group, Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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The provisions of this update are effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning
after December 15, 2027, using either a prospective or retrospective approach. The Company is currently evaluating the impact of this
guidance on its unaudited condensed consolidated financial statements.

3 — INVENTORIES, NET

Inventories, net consisted of the following:

    June 30,  2025  
    March 31,  2025 
  
    Batteries 
    $1,803,102  
    $2,084,890 
  
    Electric Vehicles 
     3,059,766  
     3,070,224 
  
    Tires 
     457,548  
     482,364 
  
    Accessories 
     1,812,829  
     1,867,365 
  
    Inventories 
     7,133,245  
     7,504,843 
  
    Inventory reserves 
     (1,189,455) 
     (1,107,569)
  
    Inventories, net 
    $5,943,790  
    $6,397,274 

Movements of inventory reserves are as follows:

    For the Three Months Ended
June 30, 

    2025  
    2024 
  
    Beginning balance 
    $1,107,569  
    $514,021 
  
    Addition 
     229,780  
     176,072 
  
    Write off 
     (147,894) 
     (131,930)
  
    Ending Balance 
    $1,189,455  
    $558,163 

As of June 30, 2025 and March 31, 2025, the inventory allowance balance was $1,189,455
and $1,107,569 respectively. For the three months ended June 30, 2025 and 2024, the impairment loss was $229,780 and $176,072, respectively.

17

4 — PREPAYMENTS AND
OTHER RECEIVABLES

Prepayments
and other receivables   as
of June 30, 2025 and March 31, 2025 consisted of the following:

    June 30,  2025  
    March 31,