Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 114

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 114
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 it more
difficult for us to pursue growth through acquisitions.

Among other things, the M&A Rules and Anti-Monopoly
Law established additional procedures and requirements that could make merger and acquisition activities by foreign investors more time-consuming
and complex. Such regulation requires, among other things, that SAMR be notified in advance of any change-of-control transaction in which
a foreign investor acquires control of a PRC domestic enterprise or a foreign company with substantial PRC operations, if certain thresholds
under the Provisions of the State Council on the Standard for Declaration of Concentration of Business Operators, issued by the State
Council in 2008, are triggered. Moreover, the Anti-Monopoly Law requires that transactions which involve the national security, the examination
on the national security shall also be conducted according to the relevant provisions of the State. In addition, PRC Measures for the
Security Review of Foreign Investment which became effective in January 2021 require acquisitions by foreign investors of PRC companies
engaged in military-related or certain other industries that are crucial to national security be subject to security review before consummation
of any such acquisition. We may pursue potential strategic acquisitions that are complementary to our business and operations.

Complying with the requirements of these regulations
to complete such transactions could be time-consuming, and any required approval processes, including obtaining approval or clearance
from the MOFCOM, may delay or inhibit our ability to complete such transactions, which could affect our ability to expand our business
or maintain our market share.

Our business may be negatively affected
by the potential obligations if our PRC subsidiaries fail to comply with social insurance and housing provident fund related laws and
regulations.

Our PRC subsidiaries are required by PRC labor-related
laws and regulations to pay various statutory employee benefits, including pensions insurance, medical insurance, work-related injury
insurance, unemployment insurance, maternity insurance and housing provident fund, to designated government agencies for the benefit of
its employees and associates. In October 2010, SCNPC promulgated the Social Insurance Law of PRC, effective on July 1, 2011
and amended December 29, 2018. On April 3, 1999, the State Council promulgated the Regulations on the Administration of Housing
Provident Fund, which was amended March 24, 2002 and March 24, 2019. Companies registered and operating in China are required
under the Social Insurance Law of PRC and the Regulations on