Company: MASK
Filing Date: 2025-01-10
Form Type: 424B4
Source: 0001213900-25-002376
Chunk: 57

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-01-10
Form: 424B4
Chunk 57
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 and challenges with which we are unfamiliar, and it may require substantial management efforts and skills to mitigate these risks and challenges. As a result of any of these problems associated with expansion, our business, results of operations and financial conditions could be materially and adversely affected. Furthermore, we may not be able to achieve anticipated growth, which could materially and adversely affect our business and prospects. The event and hospitality industry where we provide software development and other business solution services for our exhibition and conference customers are still recovering from the COVID-19 pandemic. Our Exhibition and Conference Service Portfolio business constituted approximately 0.7% and 1.4% of total revenues for the years ended June 30, 2024 and June 30, 2023, respectively. Our business is sensitive to adverse trends in the event and hospitality industry, including declines or disruptions in the demand for events, exhibitions and 25 conferences, like those due to economic downturns, natural disasters, geopolitical upheaval and global pandemic (such as the global COVID -19pandemic), and discretionary consumer and corporate spending. Any decline in attendance at or reduction in the number of events, as well as any restrictions on the hospitality industry to host events, has had and is expected to continue to have an adverse effect on our revenue and operating income would adversely affect our business, results of operations and financial conditions. The event and hospitality industry has suffered significant loss during the past three years, and have yet to fully recover from the COVID -19pandemic. As a result of the COVID -19pandemic, many in -personconferences scheduled for 2020 beginning in late February/early March 2020 were cancelled. The industry began holding virtual conferences during the second half of 2020. These virtual conferences resulted in significantly less revenue and gross contribution. Some of our customers have re -launchedin -persondestination conferences during the second quarter of 2022 and expect to focus on in -persondestination conferences in future periods as conditions permit. Although many of our customers have returned to offering some in -personconferences, our revenues may continue to be negatively impacted if in -personconferences are not permitted to be held in the jurisdictions of the conference venues, if local policies prohibit or restrict business travel or if there are public health concerns for attendees, exhibitors or conference employees. As the event and hospitality industry depends largely on the ability and willingness of people, whether exhibitors, event attendees, tourists, or others, to travel, factors adversely affecting the travel industry,