Company: MASK
Filing Date: 2025-01-10
Form Type: 424B4
Source: 0001213900-25-002376
Chunk: 157

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-01-10
Form: 424B4
Chunk 157
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 in financing activities was $888,932 for the year ended June30, 2024, as compared to $871,487 used in for the year ended June 30, 2023. The net cash used in financing activities for the years ended on June 30, 2024 and 2023 was mainly amounts due to related parties and payment of deferred IPO costs.

83 INDUSTRY As of December 31, 2023 The PRC software and information technology service industry (“Software Industry”) displayed a steady development trend in 2023. Statistics from the MIIT shows that in 2023, total revenue of the industry surpassed RMB12 trillion, profitability remain steady, and export continued to grow. 1. Overview Revenue from Software Industry grew above RMB12 trillion in 2023. According to number released by MIIT’s Report on Economic Operation of the Software Industry for 2023, more than 380,000 companies in the Software Industry have reached the milestone of receiving more than RMB5 million in revenue for their core operations in 2023. Total revenue from the Software Industry was RMB12,325.8 billion, a year -on -yearincrease of 13.4%, the growth rate went up by 2.2% when compared with that of 2022. Figure 1 Growth of software Industry revenue in 2014 – 2023 84 The total proﬁt of the Software Industry was RMB1,459.1billion in 2023, a year -on-yearincrease of 13.6%. Compared against 2022, the rate of increase went up by 7.9% and the profit ratio of the main business of surveyed companies in the industry increased by 0.1% to 9.2%. Figure 2 Growth of total proﬁt in 2022 – 2023 Export sales of Software Industry amounted to USD 51.42billion, a decrease of 3.6% year -on-year, but was 5.4% higher than the growth rate in 2022, according to the MIIT. Of the total export revenue, export of software outsourcing services increased by 5.4%, year -on-year. Figure 3 Growth in export sales of Software Industry in 2014 – 2023 85 2. Sector analysis In 2023, the domestic revenues from the sales of software products, IT services, information security products and services, and