Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 633

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 2
Chunk 633
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 Investing Activities 
     (2,901,272) 
     (3,200,843)
  
    Net Cash Provided by (Used in) Financing Activities 
     12,486,104  
     (49,628)
  
    Net changes in cash including cash classified within current assets held for sale 
    $(474,634) 
    $1,058,449 

Operating Activities

Net cash used in operating
activities for the year ended March 31, 2025 was $10.1 million, which was due to net loss of $5.3 million, a decrease in tax
payable of $1.5 million, an increase in inventories of $2.7 million, a decrease in operating lease liabilities of $4.8 million, and
an increase in prepayments and other receivables of $2.7 million, partially offset by amortization of right-of-use assets of $5.1
million, an increase in accrued expenses and other payables of $0.5 million, and a decrease in accounts receivables-related parties of
$0.2 million.

Net cash provided by operating activities for
the year ended March 31, 2024 was $4.3 million, which was mainly comprised of net income of $1.9 million, amortization of right-of-use
assets of $2.3 million and inventories reserve of $0.5 million, an increase in account payable of $2.5 million, an increase in tax payable
of $0.6 million, and an increase of accrued expenses and other payables of $0.3 million, offset by an increase in inventories of $2.0
million, and a decrease in operating lease liabilities of $1.9 million.

Investing Activities

Net cash used in investing
activities was $2.9 million for the year ended March 31, 2025, which was due to purchase of properties and equipment  of $1.6
million, purchase of GO FLY App and computer hardware and software from a related party of $1.4 million, and the advance to a related
party of $0.5 million, and partially offset by the repayment from a related party of $0.7 million.

41

Net cash used in investing activities was $3.2 million for the year
ended March 31, 2024, which was due to purchase of software from a related