Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 186

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 186
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business operators and the rights and interests of the customers. Pursuant to this law, business operators must guarantee that the commodities
they sell satisfy the requirements for personal or property safety, provide customers with authentic information about the commodities,
and guarantee the quality, function, usage and term of validity of the commodities. Failure to comply with the Customer Protection Law
may subject business operators to civil liabilities such as refunding purchase prices, exchange of commodities, repairing, ceasing damages,
compensation, and restoring reputation, and even subject the business operators or the responsible individuals to criminal penalties if
business operators commit crimes by infringing the legitimate rights and interests of customers.

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Regulations Relating to Tax in the PRC

Income Tax

The PRC Enterprise Income Tax Law was
promulgated in March 2007 and was most recently amended in December 2018. The PRC Enterprise Income Tax Law applies
a uniform 25% enterprise income tax rate to both foreign-invested enterprises and domestic enterprises, except where tax incentives are
granted to special industries and projects. Under the PRC Enterprise Income Tax Law, an enterprise established outside China with
“de facto management bodies” within China is considered a “resident enterprise” for PRC enterprise income
tax purposes and is generally subject to a uniform 25% enterprise income tax rate on its worldwide income. Under the implementation regulations
to the PRC Enterprise Income Tax Law, a “de facto management body” is defined as the body that exercises full and
substantial control and overall management over the business, productions, personnel, accounts and properties of an enterprise.

In April 2009, MOF and SAT jointly issued the Notice on Issues
Concerning Process of Enterprise Income Tax in Enterprise Restructuring Business, or Circular 59, which was subsequently amended
in December 2014. In December 2009, SAT issued the Notice on Strengthening Administration of Enterprise Income Tax for Share
Transfers by Non-PRC Resident Enterprises, or Circular 698. Both Circular 59 and Circular 698 became effective retroactively as of
January 2008. In March 2011, SAT issued the Notice on Several Issues Regarding the Income Tax of Non-PRC Resident Enterprises, or
SAT Circular 24, effective in April 2011. By promulgating and implementing these circulars, the PRC tax authorities have enhanced
their scrutiny over the direct or indirect transfer of equity interests in a PRC resident