Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 17

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 17
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 A Ordinary Shares, discussed under “Risk Factors” before deciding whether to buy our Class A Ordinary Shares.

Business Overview

We are a business-to-business (“B2B”)
information technology (“IT”) business solutions provider. Historically, through our two PRC subsidiaries, Guangzhou Sanyi
Network and Guangzhou 3E Network, we started as a business that focuses on integrated software solutions in the property management and
exhibition services spaces. Over time, we expanded our software solution offering to reach across a variety of industries and sectors,
including food establishments, real estate, exhibition & conferencing, and clean energy utilities. Following the sale of our
controlling interests in the PRC subsidiaries in March 2025, our current business operations are conducted our Hong Kong subsidiary, HK
3e Network, which continues to develop and provide software solutions across these sectors.

Our business mainly comes from software development
portfolio. The proportion of revenue was 100% and 99.9% for the six months ended December 31, 2024 and 2023, respectively. The proportion
of revenue was 99.25% and 98.6% for the years ended June 30, 2024 and 2023, respectively.

We also conduct exhibition and conference services,
as well as hardware sales, which are two minor portfolios that generated no revenue for the six months ended December 31, 2024 and 2023,
and 0.74% and 0.01% for the year ended June 30, 2024, and 1.4% and nil for the year ended June 30, 2023, respectively.

As an IT business solution provider, we take pride
in our technical acumen in delivering software solutions for our business customers. The key pillar of our growth story and the primary
engine of our growth is the development of custom software solutions for our customers.

For the six months ended December 31,
2024 and 2023, our main products under our custom software solutions offering include software products developed for property management
companies, restaurant management, intelligent music generation, and highway monitoring and control. Customers can choose to buy a basic
version with minimal alterations or customize additional functions to suit their needs. We plan to significantly expand the number of
customers we serve to diversify our customer base and grow our revenues. Revenues from a new customer often rise quickly over the first
several years following our initial engagement as we expand the services that we provide