Company: MASK
Filing Date: 2025-01-10
Form Type: 424B4
Source: 0001213900-25-002376
Chunk: 35

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-01-10
Form: 424B4
Chunk 35
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 our business, financial condition, and results of operations include, but are not limited to, the following: • Temporary lockdown of business.In response to the COVID -19pandemic, PRC local government imposed restrictions on large -scalegathering activities in various places or imposed extra requirements on participants of such activities from time to time, which caused our PRC subsidiaries to close the offices for several times from October to November 2022, temporarily. Lockdown measures were employed in closed and control areas with reported COVID -19cases. Starting from December 2022, the uncertainty and risk associated with China’s COVID -19policies and lockdown restrictions have been significantly mitigated. The Chinese government unveiled a series of new COVID -relatedpolicies to loosen its zero -COVIDpolicy and lifted the COVID prevention and control measures. However, the lasting impacts of these measures on economic recoveries, supply chains and consumer behaviors continue to disrupt our operations. • Limitations on our employees’ ability to work and travel.Resulting from the implementation of significant governmental measures in the PRC, including lockdowns, closures, quarantines, and travel bans from time to time, intended to control the spread of COVID -19, although the restrictions have been lifted in China since December 2022, our employees’ ability to work and travel in the PRC was adversely affected and therefore the Company’s ability to manage day -to -dayoperations and service delivery was impaired. All of our Guangzhou employees were tested positive for COVID -19in December 2022 and were given sick leaves ranging from 5 to 10 days, which disrupted production and increased costs. • Limitations on in -person business activities.Customers temporarily closed their operations due to COVID -19from time to time during 2020 to 2022 because of the significant governmental measures in the PRC. During this period, many major exhibitions and conferences that we provided exhibition and conference services were either cancelled or postponed, and offices and exhibition venues were closed. Although many businesses have reopened and more people travel and take on in -personmeetings, the Company cannot reasonably predict when the business activities can be fully back to normal as to the level before the outbreak of COVID -19. • Extended collection time.A few of our customers required additional time to pay us due to the negative business impact of the COVID -19pandemic on them. • Reduction of customer’s spending.The pandemic caused negative impact on the global economy, including the PRC, and severely interrupted our customers’ normal work and