Company: MASK
Filing Date: 2025-11-25
Form Type: F-1
Source: 0001185185-25-001852
Chunk: 229

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-11-25
Form: F-1
Chunk 229
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2023              |     |           100 | % |     | PRC            |     | IT consulting and solutions service        |

| * | The Company has disposed. |

The company sold 60% of equity in Guangzhou Sanyi Network and all equity in Guangzhou 3E Network on March 21, 2025.The divestment of Guangzhou Sanyi Network and Guangzhou 3E Network falls under the category of non-continuing operations. These transactions, which have a significant impact on the company's entity operations and financial statements or represent a strategic shift, align with the definition of discontinued operations as outlined in ASC 205-20-45-1A to 45-1C and ASC 205-20-45-1E. We have retrospectively classified them as discontinued operations.

b. Stock Split

On January 3, 2024, the Company
filed the Amended and Restated Memorandum and Articles of Association (“Amended and Restated Articles”) with the Registrar
of Corporate Affairs to increase its authorized shares from ordinary shares, par value of $ per share, to ordinary
shares, par value of $ per share, consisting of (i) Class A Ordinary Shares, par value of $, and (ii)
Class B Ordinary Shares, par value of $. As a result, as of June 30, 2024, there were issued and outstanding Class A Ordinary Shares
of the Company.

2. Summary of Significant Accounting Policies a) Basis of presentation The Group’s consolidated financial statements are prepared and presented in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). b) Principles of consolidation The Group’s consolidated financial statements include the accounts of the Company and its subsidiaries from the dates they were incorporated or acquired. All inter-company transactions and balances have been eliminated upon consolidation. F-8 3 E NETWORK TECHNOLOGY GROUP LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 2. Summary of Significant Accounting Policies(cont.)

c) Discontinued Operation

A discontinued
operation may include a component of an entity or a group of components of an entity, or a business or non-profit activity. A disposal
of a component of an entity is required to be reported in discontinued operation if the disposal represents a strategic shift that has
(or will have) a major effect on an entity’s operations and financial results when any of the following occurs: (1) the component
of an entity or group of components of an entity