Company: MASK
Filing Date: 2025-01-10
Form Type: 424B4
Source: 0001213900-25-002376
Chunk: 250

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-01-10
Form: 424B4
Chunk 250
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 have been exhausted and the potential for recovery is considered remote. i)Property and equipment, net The Group’s property and equipment are recorded at cost less accumulated depreciation and impairment loss, if any. Depreciation is calculated on the straight -linemethod after taking into account their respective estimated residual values over the following estimated useful lives:

| Leasehold improvement                  |     | Shorter of    
 3 years       
 or lease term |
| Furniture, fixture and other equipment |     | 2 – 3 years   |
| Electronic equipment                   |     | 3 years       |

When property and equipment are retired or otherwise disposed of, resulting gain or loss is included in net income in the period of disposition. For the years ended June 30, 2024 and 2023, the Group recognized nil and US$30 gain from disposal of property and equipment. j)Impairment of long -lived assets All long -livedassets, which include tangible long -livedassets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long -livedassets to be held and used is measured by a comparison of the carrying amount of the asset to the estimated undiscounted future cash flows expected to be generated by the assets. If the carrying amount of an asset exceeds its estimated future undiscounted cash flows, an impairment loss is recognized for the difference between the carrying amount of the asset and its fair value. For the year ended June 30, 2024 and 2023, the Group did not recognize any impairment loss on long -livedassets. k)Deferred IPO costs Deferred IPO costs consist of legal, accounting, underwriting fee and other costs incurred through the balance sheet date that are directly related to the proposed public offering. These costs, together with the underwriting discounts and commissions, will be charged to additional paid -incapital upon completion of the proposed public offering. Should the proposed public offering prove to be unsuccessful, the deferred cost, as well as additional expenses to be incurred, will be charged to operations. l)Fair value of financial instruments The Group’s financial instruments primarily consist of cash and cash equivalents, accounts receivable, net, due from related parties, accounts payable and due to a related party. The carrying values of these financial instruments approximate fair values due to their short maturities.

F-9

3 E NETWORK TECHNOLOGY GROUP LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS