Company: FLYE
Filing Date: 2025-06-02
Form Type: 424B4
Source: 0001213900-25-050035
Chunk: 49

Company: Fly-E Group, Inc.
Filing Date: 2025-06-02
Form: 424B4
Chunk 49
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 to DFT as prepayment for software development. Key Factors that Affect Operating Results Our results of operations and financial condition are affected by the general factors driving the U.S.’s electric two -wheeledvehicles industry, including, among others, the U.S.’s overall economic growth, the increase in per capita disposable income, the expansion of urbanization, the growth in consumer spending and consumption upgrades, the competitive environment, governmental policies and initiatives towards electric two -wheeledvehicles, as well as the general factors affecting the electric two -wheeledvehicles industry in overseas markets. Unfavorable changes in any of these general industry conditions could negatively affect demand for our products and materially and adversely affect our results of operations. 32 While our business is influenced by these general factors, our results of operations are more directly affected by company specific factors, including the following major factors: New Customers Our growth will depend on our ability to achieve sales targets, including our ability to attract new customers, which in turn depends in part on our ability to execute our retail strategy and produce effective marketing initiatives to expand our brand perception with prospective customers. As of May 1, 2025, we have 25 stores, including 24 retail stores in the U.S and one retail store in Canada. We offer rental services from selected locations. We also operate one online store, focusing on selling E -motorcycles, E -bikes, and E -scootersand selling our product in the United States. It is critical for us to successfully manage production ramp -upand quality control to deliver to customers in adequate volume and quality. With respect to branding and marketing, we plan to raise brand awareness through both traditional and social media channels and connect with customers through physical touchpoints such as our retail stores and distributors. We believe that effective marketing can boost our brand awareness and contribute to increased sales. In addition, we intend to provide superior customer experience through our trained technicians who will provide after -salemaintenance and repair services at our retail stores. An inability to attract new customers would substantially impact our ability to grow revenue or improve our financial results. Product Sales Price and Volume For the year ended March 31, 2024, our net revenues increased by 47.9% to $32.2 million, compared to $21.8 million for the same period in 2023, which was primarily driven by increased product sales volume and higher average sales price. In particular, the number of EVs sold increased by 7,389, or