Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 104

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 104
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RC Labor Contract Law (the “Labor Contract Law”) that became effective
in January 2008 and was last amended in December 2012 and its implementing rules that became effective in September 2008,
employers are subject to stricter requirements in terms of signing labor contracts, minimum wages, paying remuneration, determining the
term of employees’ probation and unilaterally terminating labor contracts. In the event that we decide to terminate some of our
employees or otherwise change our employment or labor practices, the Labor Contract Law and its implementation rules may limit our ability
to effect those changes in a desirable or cost-effective manner, which could adversely affect our business and results of operations.
Furthermore, the Labor Contract Law sets forth additional restrictions and increases the costs involved with dismissing employees. In
addition, for employees whose employment contracts include noncompetition terms, the Labor Contract Law requires us to pay monthly compensation
after such employment is terminated, which will increase our operating expenses. We expect that our labor costs, including wages and employee
benefits, will continue to increase. Companies operating in China are also required to withhold individual income tax on employees’
salaries based on the actual salary of each employee upon payment. We believe our current practice complies with the Labor Contract Law
and its amendments. However, the relevant governmental authorities may take a different view and impose fines on us.

As the interpretation and implementation of labor-related
laws and regulations are still evolving, we cannot assure you that our employment practice does not and will not violate labor-related
laws and regulations in China, which may subject us to labor disputes or government investigations. If we are deemed to have violated
relevant labor laws and regulations, we could be required to provide additional compensation to our employees and be subject to orders
by competent labor authorities for rectification, and failure to comply with the orders may further subject us to administrative fines.
We may also be subject to late fees and fines in relation to the under-withheld individual income tax. In any of such events, our business,
financial conditions and results of operations could be materially and adversely affected.

If the chops of our PRC subsidiaries
are not kept safely, are stolen or are used by unauthorized persons or for unauthorized purposes, the corporate governance of
these entities could be severely and adversely compromised.

In mainland China, a company chop or seal serves
as the legal representation of the company towards third parties even when unaccompanied by a signature. Each legally registered company
in mainland China is required to maintain a company chop