Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 1323

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 7
Chunk 1323
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 2024.

Director Independence

We believe that
each of our directors, Messrs. Wang, Feng, and Zhang, is an independent director under the Nasdaq listing rules.

55

Related Party Transaction Policy

Our Company has adopted a
written Audit Committee Charter, which contains the procedures used to identify, review, approve and disclose, if necessary, any transaction
in which (i) the Company is a participant and (ii) a related person has or will have a direct or indirect material interest.

Once a related party transaction
in which the aggregate amount involved will or may be expected to exceed the lesser of $120,000 or 1% of the Company’s total assets
at year-end for the last two completed fiscal years if the Company qualifies as a smaller reporting company in any calendar year has been
identified, the Audit Committee or the full board must review the transaction for approval or ratification. In determining whether to
approve or ratify a related party transaction, the Audit Committee or the full board shall consider all relevant facts and circumstances,
including the following factors: (i) the materiality and character of the related person’s direct or indirect interest; (ii) the
commercial reasonableness of the terms; (iii) any Company contractual obligations; (iv) the benefit or perceived benefit, or lack thereof,
to the Company; (v) the opportunity cost of alternate transactions; and (vi) the actual or apparent conflict of interest of the related
person.

Any director who has a direct
or indirect material interest in the proposed related person transaction may be present during initial presentation of the related person
transaction to the Audit Committee or the board, but should not participate in the Audit Committee or the board action regarding whether
to approve or ratify the transaction. If, however, a proposed transaction arises in which all directors are deemed to have a direct or
indirect material interest in the transaction, the interested directors may participate in the consideration and approval of the proposed
transaction, and the Company may enter into any such related person transaction that is approved in accordance with the provisions of
the Delaware General Corporation Law.

Item 14. Principal Accounting Fees and Services 

The following table sets forth
the fees billed by Marcum Asia CPAs LLP (“Marcum Asia”), our registered independent public accounting firm, for 2025 and 2024
for the categories of services indicated.

    Year Ended March 31, 

    2025  
    2024 
  
    Audit fees