Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 57

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 57
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     | 2,247,559 |     |       61.3 | % |
| General and Administrative Expenses |     |                              | 3,931,203 |   |     | 2,309,927 |   |     | 1,621,276 |     |       70.2 | % |
| Total Operating Expenses            |     | $                            | 9,845,989 |   |     | 5,977,154 |   |     | 3,868,835 |     |       64.7 | % |
| Percentage of Revenue               |     |                              |      30.6 | % |     |      27.4 | % |     |           |     |            |   |

Total operating expenses were $9.8 million for the year ended March 31, 2024, an increase of $3.8 million, or 64.7%, compared to $6.0 million for the year ended March 31, 2023. The increase in operating expenses was attributable to the increase in our payroll expenses, rent expenses, meals and entertainment expenses, professional fees, and development expenses as we expanded our business. Selling expenses primarily consist of payroll expenses, rent and utilities expenses of retail stores and other sales and marketing expenses. Total payroll expenses were $1.6 million for the year ended March 31, 2024, compared to $1.4 million for the year ended March 31, 2023. Rent expenses were $2.4 million for the year ended March 31, 2024, compared to $1.7 million for the year ended March 31, 2023. Because delivery drivers are our main retail customers, customer referral is the most effective way to market promotion. August through November is the low -seasoncomparing to other months, as such, the Company focuses on client referrals during this period to boost sales. As a result, our marketing referral expense increased to $1.1 million for the year ended March 31, 2024, compared to $15,756 for the year ended March 31, 2023. Utilities expenses were $0.16 million for the year ended March 31, 2024, compared to $0.13 million for the year ended March 31, 2023. The increase in these expenses was primarily due to the increase in the number of new stores and new employees hired for these new stores in the year ended March