Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 102

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 102
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 by structuring the transaction through
a proxy or contractual control arrangement. In the future, we may grow our business by acquiring complementary businesses. Complying with
the requirements of the above-mentioned regulations and other relevant rules to complete such transactions could be
time consuming, and any required approval processes, including obtaining approval from the MOC or its local counterparts may delay or
inhibit our ability to complete such transactions, which could affect our ability to expand our business or maintain our market share.

Failure to make adequate contributions
to various mandatory social security plans as required by PRC regulations may subject us to penalties.

Under the PRC Social Insurance Law and the Administrative
Measures on Housing fund, we are required to participate in various government sponsored employee benefit plans, including certain social
insurance, housing funds and other welfare-oriented payment obligations, and contribute to the plans in amounts equal to certain percentages
of salaries, including bonuses and allowances, of our employees up to a maximum amount specified by the local government from time to
time at locations where we operate our businesses. The requirement of employee benefit plans has not been implemented consistently by
the local governments in mainland China given the different levels of economic development in different locations. If the local governments
deem our contribution to be not sufficient, we may be subject to late contribution fees or fines in relation to any underpaid employee
benefits, our financial conditions and results of operations may be adversely affected.

Currently, certain of our affiliated entities are
making contributions to the plans based on the basic salary of our employees which may not be adequate in strict compliance with the relevant
regulations. As of the prospectus date, the accumulated impact in this regard was immaterial to our financial conditions and results of
operations. We have not received any order or notice from the local authorities nor any claims or complaints from our current and former
employees regarding our current practice in this regard. As the interpretation of implementation of labor-related laws and regulations
are still involving, we cannot assure you that our practice in this regard will not be violate any labor-related laws and regulations
regarding including those relating to the obligations to make social insurance payments and contribute to the housing funds and other
welfare-oriented payments. If we are deemed to have violated relevant labor laws and regulations, we could be required to provide additional
compensation to our employees and subject to penalties, and our business, financial conditions and results of operations will be adversely
affected.

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Enforcement of stricter labor