Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 8

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 1
Chunk 8
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ikes are often cheaper to operate and maintain than trucks. We expect that other large densely populated
cities in the United States, such as Miami and Dallas, face similar challenges and will continue to adopt the use of E-bikes, E-motorcycles,
and E-scooters to meet their delivery needs.

4

Our Strengths

Early Entry into the
Market: We entered the EV market early and were able to seize the market opportunities to experience rapid
growth. We started our business in 2018 and were able to leverage the potential created by the thriving E-commerce industry. Additionally,
the COVID-19 lockdown further amplified the demand for online food and essential item deliveries, creating a favorable environment for
the expansion and utilization of EVs, particularly E-bikes, which further accelerated our business growth.

Brand Reputation: We
have a strong brand reputation for consistent delivery of high-quality EV products and excellent customer service. Our brand and retail
stores have become reliable business partners for most food delivery workers, especially in New York City. As a result, they have
come to recognize our name and trust our services, establishing a loyal customer base for us.

Innovative Products and
Services: We continue to offer innovative, differentiated products and services that help set us apart
from our competitors. Since 2018, we have launched over 67 new products and introduced new versions to our existing products with upgrades
to design, motor and battery technology. Additionally, we are developing the Fly E-Bike app, which will be used by customers to better
manage and enjoy their riding experience. We are also developing the Fly E-Bike Care, an extended warranty program that will provide value-added
options for our customers in the near future.

Our Strategies

Our plan to grow our business
using the following key strategies:

Enhance our position
as a leader in urban mobility: We believe we are one of the leading providers of urban mobility solutions
for New York City, particularly for food and package delivery workers. We intend to leverage this first mover advantage to continue
to solidify our market leadership, by enhancing our brand, continuing to innovate, growing our product and service portfolio and expanding
our sales network.

Improve brand recognition: We
will maintain our commitment to providing exceptional customer service as a means of further enhancing our brand. We will provide an enhanced
shopping experience by effectively managing and upgrading our retail stores. In addition, we plan to open more flagship stores in high-traffic
retail locations in New