Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 9

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 9
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2, a Statement of
Protocol was signed by the PCAOB, the CSRC and the Ministry of Finance of the PRC (the “MOF”) governing inspections and
investigations of audit firms based in mainland China and Hong Kong (the “Statement of Protocol”). Pursuant to the
Statement of Protocol, the PCAOB conducted inspections on select registered public accounting firms subject to the Determination
Report in Hong Kong between September and November 2022. On December 15, 2022, the PCAOB board announced that it has
completed the inspections, determined that it had complete access to inspect or investigate completely registered public accounting
firms headquartered in mainland China and Hong Kong, and voted to vacate the Determination Report. On December 29, 2022,
the Consolidated Appropriations Act, 2023 (the “CAA”) was signed into law by President Biden. The CAA contained, among
other things, an identical provision to the AHFCAA, which reduces the number of consecutive non-inspection years required for
triggering the prohibitions under the HFCA Act from three years to two. Our registered public accounting firm, HTL
International, LLC (“HTL”), is headquartered in Houston, Texas. HTL is subject to PCAOB inspections on a regular basis.
HTL is not headquartered in mainland China or Hong Kong and was not identified in the Determination Report as a firm subject to
the PCAOB’s determination. Notwithstanding the foregoing, in the future, if there is any regulatory change or step taken by
PRC regulatory agencies that does not permit HTL to provide audit workpapers to the PCAOB for inspection or investigation, or the
PCAOB re-evaluates its determination as a result of any obstruction with the implementation of the Statement of Protocol in the
future, you may be deprived of the benefits of such inspection which could result in limitation or restriction to our access to the
U.S. capital markets and trading of our securities on a national exchange or “over-the-counter” markets may be
prohibited under the HFCA Act. See “Risk Factors — Risks Related to Doing Business in
China — Our Class A Ordinary Shares may be delisted under the HFCA Act if the PCAOB is unable to inspect our auditors for two consecutive years. The delisting of our Class A Ordinary Shares, or the threat of their being delisted, may materially and adversely affect the value of your investment..”

Neither 3e Network nor its