Fly-E Group, Inc. (FLYE) - Not Halal (Non-Compliant)
Fly-E Group, Inc. (FLYE) is classified as Not Halal (Non-Compliant) according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
- Sector
- Consumer Cyclical
- Industry
- Auto Manufacturers
- Result
- Pass
- Reason
- The sector "Consumer Cyclical" and industry "Auto Manufacturers" are not in the excluded categories.
Financial Ratios
- Debt Ratio
- Value: 295.3% | Threshold: 30% | Result: Fail
- Cash & Interest-bearing Securities Ratio
- Value: 1.8% | Threshold: 30% | Result: Pass
- Non-Permissible Income Ratio
- Value: 9.5% | Threshold: 5% | Result: Fail
Dividend Purification
Purification percentage: 9.47%.Based on the company's financial statements, approximately 9.47% of dividend income should be donated to charity for purification. This is derived from identified interest income (9.47% of total income). Some scholars may differ on the exact calculation method.
About Fly-E Group, Inc.
Fly-E Group, Inc., through its subsidiaries, designs, installs, and sells smart electric motorcycles and related accessories under the Fly E-Bike brand in the United States. The company offers e-mopeds, e-motorcycles, e-tricycles, and e-scooters; e-bikes, including city, foldable, standard; and traditional bikes. It also provides accessories and spare parts, such as raincoats, gloves, knee pads, storage baskets and tail boxes, smart phone holders, backrests, locks, and branded apparel; and upgrade components for wheels, shock absorbers, brake calipers, and carbon fiber body panels. In addition, the company offers after sales services, such as repair and bodywork; maintenance services, including exterior check, mechanical structure, motor system check, electrification, battery maintenance, tire pressure check, and cleaning services; and other value-added services, such as GPS add-on and installation, and theft reporting services. It sells its products to food delivery workers through distributors, and its retail and online stores. Fly-E Group, Inc. was founded in 2018 and is based in Flushing, New York.