{"id":56795,"date":"2024-07-02T00:03:31","date_gmt":"2024-07-02T00:03:31","guid":{"rendered":"https:\/\/english.saigonbiz.com.vn\/2024\/07\/02\/fly-e-group-inc-announces-fiscal-year-2024-financial-results\/"},"modified":"2024-07-02T00:03:31","modified_gmt":"2024-07-02T00:03:31","slug":"fly-e-group-inc-announces-fiscal-year-2024-financial-results","status":"publish","type":"post","link":"https:\/\/english.saigonbiz.com\/vn\/fly-e-group-inc-announces-fiscal-year-2024-financial-results\/","title":{"rendered":"Fly-E Group, Inc. Announces Fiscal Year 2024 Financial Results"},"content":{"rendered":"<div>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">NEW YORK<\/span>, July 2, 2024 \/PRNewswire\/ &#8212; Fly-E Group, Inc. (Nasdaq: FLYE) (&#8220;Fly-E&#8221; or the &#8220;Company&#8221;), an electric vehicle company engaged in designing, installing and selling smart electric motorcycles, electric bikes, electric scooters, and related accessories, today announced its financial results for the fiscal year ended <span class=\"xn-chron\">March 31, 2024<\/span>.<\/span><\/p>\n<p>Mr. <span class=\"xn-person\">Zhou (Andy) Ou<\/span>, Chairman and Chief Executive Officer of Fly-E, remarked, &#8220;We are thrilled to present our robust inaugural financial results for fiscal year 2024 following our IPO in <span class=\"xn-chron\">June 2024<\/span>. Our net revenues and gross profit surged by an impressive 47.9% and 58.1%, respectively, for fiscal year 2024. This growth has been accompanied by an improvement in our gross profit margin from 38.1% to 40.7%. Despite the challenges posed by inflation, which has led to higher labor and raw material costs that have impacted profitability and customer demand, our income from operations\u00a0and net income still rose significantly by 41.0%\u00a0and 37.5%, respectively. Our EBITDA also saw a significant increase of 43.2%, reaching <span class=\"xn-money\">$3.5 million<\/span>. All these impressive numbers demonstrate the success of our adept management team in their oversight of our pricing strategies and sales enhancement, supplier diversification, logistics optimization, and continuous upgrading of our product portfolio. These efforts collectively reinforce our brand and position in the market. As a fast-growing EV company with eco-friendliness at our core, we are focused on expanding into new territories through online sales and diversifying our product offerings to meet ever-evolving customer demands and travel scenarios. We will continue to invest in our intelligent management service mobile software, the Fly E-Bike app, to further enhance the customer experience. Looking ahead, we are committed to ongoing innovation and expanding our sales network to create greater long-term growth for our company.&#8221;<\/p>\n<p><b>Fiscal Year 2024 Financial Highlights<\/b><\/p>\n<ul type=\"disc\">\n<li><b>Net<\/b><b> revenues<\/b> were <span class=\"xn-money\">$32.2 million<\/span> in fiscal year 2024, an increase of 47.9% from <span class=\"xn-money\">$21.8 million<\/span> in fiscal year 2023.<\/li>\n<li><b>Gross <\/b><b>p<\/b><b>rofit<\/b> was <span class=\"xn-money\">$13.1 million<\/span> in fiscal year 2024, an increase of 58.1% from <span class=\"xn-money\">$8.3 million<\/span> in fiscal year 2023.<\/li>\n<li><b>Gross margin<\/b> was 40.7% in fiscal year 2024, increased from 38.1% in fiscal year 2023.<\/li>\n<li><b>Income from operations<\/b> was <span class=\"xn-money\">$3.3 million<\/span> in fiscal year 2024, an increase of 41.0% from <span class=\"xn-money\">$2.3 million<\/span> in fiscal year 2023.<\/li>\n<li><b>Net income<\/b> was <span class=\"xn-money\">$1.9 million<\/span> in fiscal year 2024, an increase of 37.5% from <span class=\"xn-money\">$1.4 million<\/span> in fiscal year 2023.<\/li>\n<li><b>Basic and <\/b><b>d<\/b><b>iluted <\/b><b>e<\/b><b>arnings per share<\/b> were <span class=\"xn-money\">$0.09<\/span> in fiscal year 2024, increased from <span class=\"xn-money\">$0.06<\/span> in fiscal year 2023.<\/li>\n<li><b>EBITDA<\/b> was <span class=\"xn-money\">$3.5 million<\/span> in fiscal year 2024, an increase of 43.2% from <span class=\"xn-money\">$2.4 million<\/span> in fiscal year 2023.<\/li>\n<\/ul>\n<p><b>Fiscal Year 2024 Financial Results<\/b><\/p>\n<p><b>Net R<\/b><b>evenues<\/b><\/p>\n<p>Net revenues were <span class=\"xn-money\">$32.2 million<\/span> in fiscal year 2024, an increase of 47.9% from <span class=\"xn-money\">$21.8 million<\/span> in fiscal year 2023. The increase was driven primarily by the increase of the average sale price of EVs by 2.0%, from <span class=\"xn-money\">$941<\/span> in fiscal year 2023 to <span class=\"xn-money\">$960<\/span> in fiscal year 2024, and the increase in sales volume of EVs by 7,389 units, from 11,263 units in fiscal year 2023 to 18,652 units in fiscal year 2024.<\/p>\n<p>Retail sales revenue was <span class=\"xn-money\">$26.4 million<\/span> in fiscal year 2024, an increase of 40.0% from <span class=\"xn-money\">$18.8 million<\/span> in fiscal year 2023. Wholesale revenue was <span class=\"xn-money\">$5.8 million<\/span> in fiscal year 2024, an increase of 98.5% from <span class=\"xn-money\">$2.9 million<\/span> in fiscal year 2023.<\/p>\n<p><b>Cost of Revenues<\/b><\/p>\n<p>Cost of revenues was <span class=\"xn-money\">$19.1 million<\/span> in fiscal year 2024, an increase of 41.6% from <span class=\"xn-money\">$13.5 million<\/span> in fiscal year 2023. The increase in cost of revenues was primarily attributable to the increase in sales volume mentioned above and increase in logistics costs as the Company sourced and imported more EV parts and accessories outside <span class=\"xn-location\">the United States<\/span> during the year ended <span class=\"xn-chron\">March 31, 2024<\/span>.<\/p>\n<p><b>Gross Profit<\/b><\/p>\n<p>Gross profit was <span class=\"xn-money\">$13.1 million<\/span> in fiscal year 2024, an increase of 58.1% from <span class=\"xn-money\">$8.3 million<\/span> in fiscal year 2023. Gross margin was 40.7% in fiscal year 2024, increased from 38.1% in fiscal year 2023. The increase in gross profit and gross margin was a result of higher average per unit selling price, increasing from <span class=\"xn-money\">$941<\/span> in fiscal year 2023 to <span class=\"xn-money\">$960<\/span> in fiscal year 2024. These improvements were driven by product upgrades, enhanced sales channels, and an improved brand image in the market.<\/p>\n<p><b>Total <\/b><b>Operating <\/b><b>E<\/b><b>xpenses<\/b><\/p>\n<p>Total operating expenses were <span class=\"xn-money\">$9.8 million<\/span> in fiscal year 2024, an increase of 64.7% compared to <span class=\"xn-money\">$6.0 million<\/span> in fiscal year 2023. The increase was attributable to the increase in the payroll expenses, rent expenses, meals and entertainment expenses, professional fees, and development expenses as the Company expanded its business.<\/p>\n<ul type=\"disc\">\n<li>Selling expenses were <span class=\"xn-money\">$5.9 million<\/span> in fiscal year 2024, compared to <span class=\"xn-money\">$3.7 million<\/span> in fiscal year 2023. Selling expenses primarily consist of payroll expenses, rent and utilities expenses of retail stores and other sales and marketing expenses. Total payroll expenses were <span class=\"xn-money\">$1.6 million<\/span> in fiscal year 2024, compared to <span class=\"xn-money\">$1.4 million<\/span> in fiscal year 2023. Rent expenses were <span class=\"xn-money\">$2.4 million<\/span> in fiscal year 2024, compared to <span class=\"xn-money\">$1.7 million<\/span> in fiscal year 2023. Because delivery drivers are the Company&#8217;s main retail customers, customer referral is the most effective way to market promotion. August through November is the low-season comparing 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 <span class=\"xn-money\">$1.1 million<\/span> in fiscal year 2024, compared to <span class=\"xn-money\">$15,756<\/span> in fiscal year 2023. Utilities expenses were <span class=\"xn-money\">$0.16 million<\/span> in fiscal year 2024, compared to <span class=\"xn-money\">$0.13 million<\/span> in fiscal year 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 fiscal year 2024.<\/li>\n<li>General and administrative expenses were <span class=\"xn-money\">$3.9 million<\/span> in fiscal year 2024, compared to <span class=\"xn-money\">$2.3 million<\/span> in fiscal year 2023. Meals and entertainment expenses increased to <span class=\"xn-money\">$0.4 million<\/span> in fiscal year 2024, compared to <span class=\"xn-money\">$0.3 million<\/span> in fiscal year 2023, primarily due to increased meal expenses for employees who worked overtime. Professional fees increased to <span class=\"xn-money\">$1.0 million<\/span> in fiscal year 2024, compared to <span class=\"xn-money\">$0.7 million<\/span> in fiscal year 2023, primarily attributable to the increase in audit fee, consulting fee, and legal expenses associated with the Company&#8217;s initial public offering. Payroll expenses increased to <span class=\"xn-money\">$1.1 million<\/span> in fiscal year 2024 from <span class=\"xn-money\">$0.5 million<\/span> in fiscal year 2023 primarily due to additional employees hired in operation and accounting departments. Rent expenses increased to <span class=\"xn-money\">$0.2 million<\/span> in fiscal year 2024, compared to <span class=\"xn-money\">$0.1 million<\/span> in fiscal year 2023 as a result of office space expansion in fiscal year 2024.<\/li>\n<\/ul>\n<p><b>Net Income<\/b><\/p>\n<p>Net income was <span class=\"xn-money\">$1.9 million<\/span> in fiscal year 2024, an increase of 37.5% from <span class=\"xn-money\">$1.4 million<\/span> in fiscal year 2023, mainly attributable to the reasons discussed above.<\/p>\n<p><b>Basic and Diluted Earnings per Share<\/b><\/p>\n<p>Basic and diluted earnings per share were <span class=\"xn-money\">$0.09<\/span> in fiscal year 2024, increased from <span class=\"xn-money\">$0.06<\/span> in fiscal year 2023.<\/p>\n<p><b>EBITDA<\/b><\/p>\n<p>EBITDA was <span class=\"xn-money\">$3.5 million<\/span> in fiscal year 2024, an increase of 43.2% from <span class=\"xn-money\">$2.4 million<\/span> in fiscal year 2023.<\/p>\n<p><b>Financial Condition<\/b><\/p>\n<p>As of <span class=\"xn-chron\">March 31, 2024<\/span>, the Company had cash of <span class=\"xn-money\">$1.4 million<\/span>, increased from <span class=\"xn-money\">$0.4 million<\/span> as of <span class=\"xn-chron\">March 31<\/span>, 2023.\u00a0<\/p>\n<p>Net cash provided by operating activities was <span class=\"xn-money\">$4.3 million<\/span> in fiscal year 2024, compared to <span class=\"xn-money\">$1.8 million<\/span> in fiscal year 2023.<\/p>\n<p>Net cash used in investing activities was <span class=\"xn-money\">$3.2 million<\/span> in fiscal year 2024, compared to <span class=\"xn-money\">$0.4 million<\/span> in fiscal year 2023.<\/p>\n<p>Net cash used in financing activities was <span class=\"xn-money\">$0.05 million<\/span> in fiscal year 2024, compared to <span class=\"xn-money\">$1.4 million<\/span> in fiscal year 2023.<\/p>\n<p><b>Recent Development<\/b><\/p>\n<p>On <span class=\"xn-chron\">June 7, 2024<\/span>, the Company completed its initial public offering (the &#8220;Offering&#8221;) of 2,250,000 shares of common stock, at a price of <span class=\"xn-money\">$4.00<\/span> per share. On <span class=\"xn-chron\">June 25, 2024<\/span>, the underwriter of the Offering exercised its over-allotment option in full to purchase an additional 337,500 shares of the Company&#8217;s common stock at the public offering price of <span class=\"xn-money\">$4.00<\/span> per share. After giving effect to the full exercise of the over-allotment option, the Company sold an aggregate 2,587,500 shares of its common stock for aggregate gross proceeds of <span class=\"xn-money\">$10.35 million<\/span>, before deducting underwriter discounts, commissions and other related expenses. The Company&#8217;s shares of common stock began trading on the Nasdaq Capital Market under the symbol &#8220;FLYE&#8221; on <span class=\"xn-chron\">June 6, 2024<\/span>.<\/p>\n<p><b>About Fly-E Group, Inc.<\/b><\/p>\n<p>Fly-E Group, Inc. is an electric vehicle company that is principally engaged in designing, installing and selling smart electric motorcycles, electric bikes, electric scooters and related accessories under the brand &#8220;Fly E-Bike.&#8221; The Company&#8217;s commitment is to encourage people to incorporate eco-friendly transportation into their active lifestyles, ultimately contributing towards building a more environmentally friendly future. For more information, please visit the Company&#8217;s website: <a href=\"https:\/\/investors.flyebike.com\/\" target=\"_blank\" rel=\"nofollow noopener\">https:\/\/investors.flyebike.com<\/a>.\u00a0<\/p>\n<p><b>Non-GAAP Financial Measures<\/b><\/p>\n<p>To supplement the Company&#8217;s financial information presented in accordance with the generally accepted accounting principles in <span class=\"xn-location\">the United States<\/span> (the &#8220;U.S. GAAP&#8221;), management periodically uses certain &#8220;non-GAAP financial measures,&#8221; as such term is defined under the rules of the SEC, to clarify and enhance understanding of past performance and prospects for the future. Generally, a non-GAAP financial measure is a numerical measure of a company&#8217;s operating performance, financial position or cash flows that excludes or includes amounts that are included in or excluded from the most directly comparable measure calculated and presented in accordance with U.S. GAAP. For example, non-GAAP measures may exclude the impact of certain items such as acquisitions, divestitures, gains, losses and impairments, or items outside of management&#8217;s control. Management believes that the following non-GAAP financial measure provides investors and analysts useful insight into its financial position and operating performance. Any non-GAAP measure provided should be viewed in addition to, and not as an alternative to, the most directly comparable measure determined in accordance with U.S. GAAP. Further, the calculation of these non-GAAP financial measures may differ from the calculation of similarly titled financial measures presented by other companies and therefore may not be comparable among companies.<\/p>\n<p>The Company uses EBITDA (earnings before interest, taxes, depreciation, and amortization) to evaluate its operating performance. The Company believes EBITDA provides additional insight into its underlying, ongoing operating performance and facilitates year-to-year comparisons by excluding the earnings impact of interest, tax, depreciation and amortization and that presenting EBITDA is more representative of its operational performance and may be more useful for investors.<\/p>\n<p>The Company reconciles its non-GAAP financial measure to its net income, which is its most directly comparable financial measure calculated and presented in accordance with U.S. GAAP. EBITDA includes adjustments for provision for income taxes, as applicable, interest income and expense, depreciation, and amortization. EBITDA does not represent and should not be considered an alternative to net income as determined by U.S. GAAP, and its calculations thereof may not be comparable to those reported by other companies. The Company believes EBITDA is an important measure of operating performance and provides useful information to investors because it highlights trends in its business that may not otherwise be apparent when relying solely on U.S. GAAP measures and because it eliminates items that have less bearing on its operating performance. EBITDA, as presented herein, is a supplemental measure of its performance that is not required by, or presented in accordance with, U.S. GAAP. The Company uses non-GAAP financial measures as supplements to its U.S. GAAP results in order to provide a more complete understanding of the factors and trends affecting its business. EBITDA is a measure of operating performance that is not defined by U.S. GAAP and should not be considered a substitute for net (loss) income as determined in accordance with U.S. GAAP.<\/p>\n<p><b>Forward-Looking Statements<\/b><\/p>\n<p>Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company&#8217;s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as &#8220;approximates,&#8221; &#8220;believes,&#8221; &#8220;hopes,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;estimates,&#8221; &#8220;projects,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;will,&#8221; &#8220;would,&#8221; &#8220;should,&#8221; &#8220;could,&#8221; &#8220;may&#8221; or other similar expressions. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct. The Company cautions investors that actual results may differ materially from the anticipated results, and that the forward-looking statements contained in this press release are subject to the risks set forth in the Company&#8217;s filings with the Securities and Exchange Commission (the &#8220;SEC&#8221;), including the section under &#8220;Risk Factors&#8221; of its most recent Annual Report on Form 10-K for the fiscal year ended <span class=\"xn-chron\">March 21, 2024<\/span>, filed with the SEC on <span class=\"xn-chron\">June 28, 2024<\/span>. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.<\/p>\n<p><b>For investor and media inquiries, please contact:<\/b><\/p>\n<p><b>Fly-E Group, Inc.<br \/><\/b>Investor Relations Department<br \/>Email: <a href=\"mailto:ir@flyebike.com\" target=\"_blank\" rel=\"nofollow noopener\">ir@flyebike.com<\/a><\/p>\n<p><b>Ascent Investor Relations LLC<br \/><\/b><span class=\"xn-person\">Tina Xiao<\/span><br \/>Phone: +1-646-932-7242<br \/>Email: <a href=\"mailto:investors@ascent-ir.com\" target=\"_blank\" rel=\"nofollow noopener\">investors@ascent-ir.com<\/a><\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody>\n<tr>\n<td class=\"prngen2\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>FLY-E\u00a0GROUP, INC.<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>CONSOLIDATED BALANCE SHEETS<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(Expressed in\u00a0<\/span>U.S<span class=\"prnews_span\">.\u00a0dollars, except for the number of shares)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"9\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>March\u00a031, <br \/>2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>March\u00a031, <br \/>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">ASSETS<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Current Assets<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,403,514<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">358,894<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Accounts receivable<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">212,804<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">389,077<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Accounts receivable\u00a0\u2013\u00a0related parties<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">326,914<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">136,565<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Inventories, net<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">5,364,060<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">3,838,754<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Prepayments and other receivables<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">588,660<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">782,819<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Prepayments and other receivables\u00a0\u2013\u00a0related parties<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">240,256<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Total Current Assets<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">8,136,208<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">5,506,109<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Property and equipment, net<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,755,022<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">785,285<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Security deposits<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">781,581<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">424,942<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred IPO costs<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">502,198<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">75,819<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred tax assets, net<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">35,199<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">211,100<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating lease right-of-use assets<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">16,000,742<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">10,261,556<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Intangible assets, net<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">36,384<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Long-term prepayment for property<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">450,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Long-term prepayment for software development\u2013 related parties<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,279,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Total Assets<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">28,976,334<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">17,264,811<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">LIABILITIES AND STOCKHOLDERS&#8217; EQUITY<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Current Liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Accounts payable<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,180,796<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,005,401<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Current portion of long-term loan payables<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,213,242<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">412,224<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Accrued expenses and other payables<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">925,389<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">365,662<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Other payables\u00a0\u2013\u00a0related parties<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">92,229<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">332,481<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating lease liabilities\u00a0\u2013\u00a0current<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,852,744<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,836,737<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Taxes payable<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,530,416<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">959,456<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Total Current Liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">7,794,816<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">4,911,961<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Long-term loan payables<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">412,817<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">723,228<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Long-term loan payables\u00a0\u2013\u00a0related parties<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">150,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating lease liabilities\u00a0\u2013\u00a0non-current<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">13,986,879<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">8,979,193<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Total Liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">22,194,512<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">14,764,382<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Commitment and Contingencies<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Stockholders&#8217; Equity<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Preferred stock, $0.01 par value, 4,400,000 shares authorized and nil <br \/>\u00a0 \u00a0outstanding as of March 31, 2024 and March 31, 2023*<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Common stock, $0.01 par value, 44,000,000 shares authorized and<br \/>\u00a0 \u00a022,000,000 shares outstanding as of March 31, 2024 and March 31, <br \/>\u00a0 \u00a02023*<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">220,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">220,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Additional Paid-in Capital<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,400,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Shares Subscription Receivable<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(219,998)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(219,998)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Retained Earnings<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">4,395,649<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,500,427<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Accumulated other comprehensive loss<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(13,829)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Total FLY-E Group, Inc. Stockholders&#8217; Equity <\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">6,781,822<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,500,429<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Total Liabilities and Stockholders&#8217; Equity<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">28,976,334<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">17,264,811<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">*<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Shares and per share data are presented on a retroactive basis to reflect the nominal share issuance\u00a0<br \/>on December\u00a021, 2022 and to give effect to the stock split completed on April 2, 2024.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody>\n<tr>\n<td class=\"prngen13\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>FLY-E\u00a0GROUP, INC.<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(Expressed in\u00a0<\/span>U.S<span class=\"prnews_span\">.\u00a0dollars, except for the number of shares)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"9\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen5\" colspan=\"6\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>For the Years Ended <br \/>March\u00a031,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Revenues<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">32,205,666<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">21,774,937<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Cost of Revenues<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">19,099,120<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">13,485,405<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Gross Profit<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">13,106,546<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">8,289,532<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating Expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Selling Expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">5,914,786<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">3,667,227<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">General and Administrative Expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">3,931,203<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,309,927<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Total Operating Expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">9,845,989<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">5,977,154<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Income from Operations<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">3,260,557<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,312,378<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Other Expenses, net<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(30,352)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(11,524)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Interest Expenses, net<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(152,050)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(100,387)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Income Before Income Taxes<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">3,078,155<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,200,467<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Income Tax Expense<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,182,933)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(821,896)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Net Income<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,895,222<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,378,571<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Other Comprehensive Income (Loss)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Foreign currency translation adjustment<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(13,829)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Total Comprehensive Income<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,881,393<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,378,571<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Earnings per Share*<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">0.09<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">0.06<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Weighted Average Number of Common Stock<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2013\u00a0Basic and Diluted*<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">22,000,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">22,000,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\">\n<tbody>\n<tr>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen12\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">*<\/span><\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Shares and per share data are presented on a retroactive basis to reflect the nominal share issuance <br \/>on December\u00a021, 2022 and to give effect to the stock split completed on April 2, 2024.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody>\n<tr>\n<td class=\"prngen13\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>FLY-E\u00a0GROUP, INC.<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>CONSOLIDATED STATEMENTS OF CASH FLOWS<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\" colspan=\"9\" rowspan=\"1\">\n<p class=\"prnml4\"><span class=\"prnews_span\">(Expressed in\u00a0<\/span>U.S<span class=\"prnews_span\">.\u00a0dollars, except for the number of shares)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"9\" rowspan=\"1\"><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen5\" colspan=\"6\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>For the Years Ended <br \/>March\u00a031,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash flows from operating activities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"2\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Net income<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,895,222<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,378,571<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Adjustments to reconcile net income to net cash provided by operating<br \/>activities:<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Loss on disposal of property, and equipment<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">46,084<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Depreciation expense<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">272,708<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">145,783<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Amortization expense<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,648<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred income taxes expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">176,093<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">448,800<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Amortization of operating lease right-of-use assets<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,277,910<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,905,028<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Loss from termination of operating lease<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">5,957<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Inventories reserve<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">456,209<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">151,378<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Changes in operating assets and liabilities:<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Accounts receivable<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">176,273<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(334,752)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Accounts receivable\u00a0\u2013\u00a0related parties<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(190,349)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(136,565)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Inventories<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,981,515)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">615,394<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Prepayments and other receivables<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">194,160<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(637,630)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Prepayments for operation services to related parties<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(60,000)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Security deposits<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(422,240)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(130,680)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Accounts payable<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,489,025<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(70,928)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Accrued expenses and other payables<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">334,726<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(105,097)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Operating lease liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,933,760)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,697,190)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Taxes payable<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">570,769<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">225,027<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Net cash provided by operating activities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">4,308,920<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,757,139<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash flows from investing activities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Purchases of equipment<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,253,555)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(442,915)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Purchases of property rights<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(38,032)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Prepayments for property<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(450,000)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Prepayment for purchasing software from a related party<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,279,000)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Payment received from a related party<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">111,500<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Advance to a related party<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(291,756)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Net cash used in investing activities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(3,200,843)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(442,915)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash flows from financing activities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Borrowing from loan payables<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,095,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,500,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Repayments of loan payables<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(639,367)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(278,222)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Repayments on other payables &#8211; related parties<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(290,252)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(2,496,323)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Payments of related party loan<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(150,000)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Deferred IPO Cost<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(201,379)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(75,819)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Capital contributions from Stockholders<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">136,370<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Net cash used in financing activities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(49,628)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(1,350,364)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Net changes in cash<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,058,449<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(36,140)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Effect of exchange rate changes on cash<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(13,829)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash at beginning of the year<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">358,894<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">395,034<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash at the end of the year<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,403,514<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">358,894<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Supplemental disclosure of cash flow information<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash paid for interest expense<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">152,050<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">100,341<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Cash paid for income taxes<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">435,881<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">148,064<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Supplemental disclosure of non-cash investing and financing activities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Settlement of accounts payable by related parties<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">50,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Settlement of accounts payable by capital contribution<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">2,263,630<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Purchase of vehicle funded by loan<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">34,974<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Unpaid deferred IPO cost<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">225,000<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">11,717<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Termination of operating lease right-of-use assets and operating lease<br \/>liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(2,814,235)<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Right-of-use assets obtained in exchange for operating lease liabilities<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">10,771,688<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">4,082,664<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>The following table sets forth the components of our EBITDA for the years ended <span class=\"xn-chron\">March 31, 2024<\/span> and 2023:<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"1\" class=\"prnbcc\">\n<tbody>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen5\" colspan=\"14\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>For the\u00a0Year Ended March\u00a031,<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2024<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen14\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2023<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Change<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen5\" colspan=\"2\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>Percentage <br \/>Change<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Net Income from Operations<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,895,222<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,378,571<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">516,651<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">37.5<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Income Tax Provision<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,182,933<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">821,896<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">361,037<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">43.9<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Depreciation<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">272,708<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">145,783<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">126,925<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">87.1<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Interest Expenses<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">152,050<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">100,387<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">51,663<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">51.5<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Amortization<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,648<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">\u2014<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,648<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">100<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>EBITDA<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>3,504,561<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>$<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\"><b>2,446,637<\/b><\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">$<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">1,057,924<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">43.2<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">Percentage of Revenue<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">10.9<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">11.2<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap><\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">(0.3)<\/span><\/p>\n<\/td>\n<td class=\"prngen15\" colspan=\"1\" rowspan=\"1\" nowrap>\n<p class=\"prnml4\"><span class=\"prnews_span\">%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, July 2, 2024 \/PRNewswire\/ &#8212; Fly-E Group, Inc. (Nasdaq: FLYE) (&#8220;Fly-E&#8221; or the &#8220;Company&#8221;), an electric vehicle company engaged in designing, installing and selling smart electric motorcycles, electric bikes, electric scooters, and related accessories, today announced its financial results for the fiscal year ended March 31, 2024. Mr. Zhou (Andy) Ou, Chairman and [&#8230;]\n","protected":false},"author":1,"featured_media":79226,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-56795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pr-newswire"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.6 (Yoast SEO v21.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fly-E Group, Inc. 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