Fly-E Group (NASDAQ: FLYE) loses CFO and two key directors

Rhea-AI Filing Summary

Fly-E Group, Inc. reported several leadership changes. On August 20, 2025, Chief Financial Officer Shiwen Feng resigned from her position, and the company stated her resignation was not due to any disagreement over accounting, operations, policies, or practices. Effective August 26, 2025, the Board appointed Chief Executive Officer Zhou Ou to also serve as interim CFO while a search is conducted for a permanent finance chief.

The company also disclosed that on August 21, 2025, independent directors Lun Feng and Zanfeng Zhang resigned from the Board. Both served on the Audit, Compensation, and Nominating and Corporate Governance Committees, and each chaired one of the latter two committees. The company stated that their resignations were not due to disagreements with the company. The Board plans to keep these two independent director seats temporarily vacant while it conducts a search, and the company says it will act promptly to remain compliant with Nasdaq listing and other applicable rules.

Positive

• None.

Negative

• Simultaneous CFO and independent director resignations create near-term governance and oversight uncertainty, especially with key board committee chairs stepping down.
• CEO serving as interim CFO concentrates executive responsibilities in one person, potentially weakening financial oversight until a permanent CFO is appointed.

Insights

Corporate governance analyst

Multiple finance and board departures raise short-term governance risk.

Fly-E Group, Inc. disclosed the resignation of its Chief Financial Officer, Shiwen Feng, effective August 20, 2025, and the resignation of two independent directors, Lun Feng and Zanfeng Zhang, effective August 21, 2025. The company states that none of the resignations were due to disagreements on accounting, operations, policies, or practices, which reduces concern about an identified dispute but does not explain the timing.

The Board appointed CEO Zhou Ou as interim CFO effective August 26, 2025. This consolidates key executive roles in a single individual, which can strain management bandwidth and weaken separation of duties in finance oversight until a new CFO is hired. Governance investors typically prefer distinct CEO and CFO roles, especially for a Nasdaq-listed issuer.

The departure of two independent directors who served on all three major committees, and chaired the Compensation and Nominating and Corporate Governance Committees, leaves those seats temporarily vacant. The company indicates it will conduct a thorough search and act promptly to satisfy Nasdaq listing requirements and other rules. Subsequent disclosures about new director and permanent CFO appointments will clarify how quickly board independence and committee leadership are restored.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 20, 2025 

Fly-E Group, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-42122		92-0981080
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification Number)

136-40 39th Avenue, Suite 202 Flushing, New York		11354
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (929) 410-2770

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of each exchange on which registered
Common stock, $0.01 par value per share		FLYE		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Resignation of Shiwen Feng as Chief Financial Officer

On August 20, 2025, Ms. Shiwen Feng, the Chief Financial Officer (the “CFO”) of the Company, notified the Company of her resignation from the CFO position, effective on August 20, 2025. Ms. Feng’s resignation was not a result of any disagreement with the Company on any matter relating to its accounting, operations, policies or practices.

Appointment of Zhou Ou as Interim Chief Financial Officer

Effective August 26, 2025, the Board appointed Mr. Zhou Ou, the current Chief Executive Officer (the “CEO”) and Chairman of the Board of Directors (the “Board”) of the Company, to serve as the interim CFO of the Company to fill the vacancy created by the resignation of Ms. Feng while the Board conducts a search for a permanent Chief Financial Officer. Mr. Ou will continue to serve as the Company’s Chief Executive Officer and a member of the Board.

Resignation of Lun Feng and Zanfeng Zhang as Directors

On August 21, 2025, Lun Feng, a member of the Board, a member of the Board’s Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee, and the Chair of the Compensation Committee, notified the Company of his resignation from the Board effective August 21, 2025. Mr. Lun Feng’s resignation was not a result of any disagreement with the Company on any matter relating to its accounting, operations, policies or practices.

On August 21, 2025, Zanfeng Zhang, a member of the Board, a member of the Board’s Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee, and the Chair of the Nominating and Corporate Governance Committee, notified the Company of his resignation from the Board effective August 21, 2025. Mr. Zhang’s resignation was not a result of any disagreement with the Company on any matter relating to its accounting, operations, policies or practices.

The Board has elected to leave the two independent directors’ positions temporarily vacant until the Board has identified and appointed one or more qualified candidates to fill the positions. The Company intends to conduct a thorough search and anticipates making the necessary appointments in due course. The Company will act promptly to ensure that it satisfies the requirements under the Nasdaq listing rules as well as all other relevant rules and regulations in a timely manner.

1

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	FLY-E GROUP, INC.
Date: August 26, 2025	By:	/s/ Zhou Ou
	Name:	Zhou Ou
	Title:	Chief Executive Officer

2

FAQ

What executive leadership changes did Fly-E Group (FLYE) report?

Fly-E Group, Inc. reported that Chief Financial Officer Shiwen Feng resigned effective August 20, 2025. The Board appointed Chief Executive Officer Zhou Ou to serve as interim CFO effective August 26, 2025 while it searches for a permanent CFO.

Did Fly-E Group (FLYE) indicate any disagreements related to the CFO or director resignations?

The company stated that Ms. Shiwen Feng’s resignation as CFO and the resignations of directors Lun Feng and Zanfeng Zhang were not the result of any disagreement with the company on matters relating to its accounting, operations, policies, or practices.

Which directors resigned from Fly-E Group (FLYE) and what roles did they hold?

On August 21, 2025, Lun Feng and Zanfeng Zhang resigned from the Board. Both served on the Audit Committee, Compensation Committee, and Nominating and Corporate Governance Committee. Lun Feng chaired the Compensation Committee, and Zanfeng Zhang chaired the Nominating and Corporate Governance Committee.

How will Fly-E Group (FLYE) handle the vacant independent director positions?

The Board has elected to leave the two independent director positions temporarily vacant while it identifies and appoints qualified candidates. The company states it intends to conduct a thorough search before making these appointments.

Is Fly-E Group (FLYE) addressing Nasdaq listing rule requirements after the board changes?

Yes. The company said it will act promptly to ensure it satisfies Nasdaq listing rules and all other relevant rules and regulations in a timely manner following the resignations and interim appointments.

Will Fly-E Group’s CEO continue in his current role while serving as interim CFO?

Yes. The filing states that Mr. Zhou Ou will continue to serve as the company’s Chief Executive Officer and a member of the Board while he also serves as interim CFO.