Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 158

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 158
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 uncertain tax positions. 11 — LEASES Effective on April 1, 2019, the Company adopted Topic 842. At the inception of a contract, the Company determines if the arrangement is, or contains, a lease. The leases of the Company mainly consisted of offices, retail stores and warehouses.

F-26

FLY-E GROUP, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 11 — LEASES (cont.) The Company’s operating right -of-use(“ROU”) assets and lease liabilities were as follows:

|                            |     |   |  March 31, 
       2024 |     |   |  March 31, 
       2023 |
|:---------------------------|:----|:--|-----------:|:----|:--|-----------:|
| Operating ROU:             |     |   |            |     |   |            |
| ROU assets                 |     | $ | 16,000,742 |     | $ | 10,261,556 |
| Total operating ROU assets |     | $ | 16,000,742 |     | $ | 10,261,556 |

|                                         |     |   |  March 31, 
       2024 |     |   |  March 31, 
       2023 |
|:----------------------------------------|:----|:--|-----------:|:----|:--|-----------:|
| Operating lease obligations:            |     |   |            |     |   |            |
| Current operating lease liabilities     |     | $ |  2,852,744 |     | $ |  1,836,737 |
| Non-current operating lease liabilities |     |   | 13,986,879 |     |   |  8,979,193 |
| Total lease liabilities                 |     | $ | 16,839,623 |     | $ | 10,815,930 |

The Company had 38 and 31 leases as of March 31, 2024 and 2023, respectively. The weighted average lease term, discount rates, and remaining lease terms for the operating leases as of March 31, 2024 were as follows: Remaining lease term and discount rate:

| Weighted average discount rate                |     | 6.4%       |
| Weighted average remaining lease term (years) |     | 5.51 years |

The weighted average lease