Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 142

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 142
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 complying with new or revised accounting standards. This allows an EGC to delay adoption of certain accounting standards until
those standards would otherwise apply to private companies. We have adopted the extended transition period.

For detailed discussion on recent accounting pronouncements,
please see Note 2 to our consolidated financial statements, “Summary of Significant Accounting Policies”, included elsewhere
in this form.

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Seasonality and customer concentration

There is no seasonality in our business operations
throughout the year. Our customer base for software development services tends to vary from one year to another, as each purchase agreement
tends to be a one-off event with few repeat customers. A major customer in one year may not provide the same level of revenues for us
in any subsequent year. For the exhibition and conference services, we believe that in the foreseeable future we will continue to derive
a significant portion of our revenues from a small number of major customers.

Factors Affecting Our Results of Operations

We believe that the most significant factors that
affect our business and financial results include the following:

| ● | Our ability to expand our customer base and generate more business from existing customers.    We strive                                  
 to provide our customers with the best services as satisfied customers are more likely to stay as our existing customers. Also, satisfied 
 customers are more likely to recommend us to their peers. We work closely with our customers so that software solutions recommended by    
 us can satisfy their needs and improve their efficiencies.                                                                                |

This marketing strategy allows us to minimize our
marketing expenses but still get effective marketing. Revenue derived from a customer will usually decline after the initial order when
the customer has acquired the basic IT system that it needs. In addition, for the year ended June 30, 2024, our top 4 customers,
Zhejiang Kewoyi International Trading Limited, Dongguan Fanxin Electric Technology Limited, Beijing Boyuanhua Technology Co., Ltd. and
Henan Chuanyi Technology Partnership Limited account for 25%, 17%, 12% and 10%, respectively of our revenue. There are inherent risks
with having a large percentage of total revenues concentrated with a limited number of customers. Changes to or reductions in the buying
patterns of these larger customers may expose our business and results of operations to greater volatility. The mix and type of customers,
and sales to any single customer, may vary significantly from quarter to quarter and from year to year, and have a significant impact
on our financial condition