Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 152

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 152
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 US$284,416 and US$74,496, respectively, which were tax expenses mainly generated from our Hong Kong and PRC
subsidiaries.

Net Income

Net income increased by US$552,190 or 55.4% to US$1,548,347
for the year ended June 30, 2024 from US$996,157 for the year ended June 30, 2023.

Other comprehensive income

Foreign currency translation adjustments amounted
to losses of US$9,281 and US$98,014 for the years ended on June 30, 2024 and 2023, respectively. The balance sheet amounts with
the exception of equity as of June 30, 2024 were translated at 7.2672 RMB to 1.00 USD as compared to 7.2513 RMB to 1.00USD as of
June 30, 2023. The equity accounts were stated at their historical rate. The average translation rates applied to the income statements
accounts for the years ended on June 30, 2024 and 2023 were 7.2248 RMB to 1.00 USD and 6.9536 RMB to 1.00 USD, respectively.
The change in the value of the RMB relative to the U.S. dollar may affect our financial results reported in the U.S, dollar terms
without giving effect to any underlying change in our business or results of operation.

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Liquidity and Capital Resources

As of December 31, 2024, we had cash and cash
equivalents of US$71,590. Our current assets were approximately US$3,185,466, and our current liabilities were US$1,487,148 as of December 31,
2024. Total retained earnings as of December 31, 2024 were US$3,878,142. Our cash flows provided by operating activities was US$389,450
for the six months ended December 31, 2024.

Our operating results for future periods are subject
to numerous uncertainties and it is uncertain whether we will be able to achieve a net income position for the foreseeable future. If
management is not able to increase revenue and/or manage costs and operating expenses in line with revenue forecasts, we may not be able
to achieve profitability.

We believe that available cash and cash equivalents,
cash provided by operating activities, together with cash