Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 42

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 42
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 revised the Archives Rules and the revised Archives Rules came into effect together with the Trial Measures on March 31,
2023. The revised Archives Rules will expand their application to cover indirect overseas offering and listing, stipulating that a domestic
company which plans to publicly disclose any documents and materials containing state secrets or working secrets of government agencies,
shall first obtain approval from competent authorities according to law, and file with the secrecy administrative department at the same
level.

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Since these statements and regulatory actions are new, it is highly uncertain
how soon the legislative or administrative regulation making bodies will respond and what existing or new laws or regulations or detailed
implementations and interpretations will be modified or promulgated, if any. It is also highly uncertain what the potential impact such
modified or new laws and regulations will have on the daily business operations of our PRC subsidiaries, their ability to accept foreign
investments and the listing of our Class A Ordinary Shares on a U.S. or other foreign exchanges. If the CAC, CSRC or other regulatory
agencies later promulgate new rules or explanations requiring that we obtain their approvals for this offering and any follow-on offering,
we may be unable to obtain such approvals which could significantly affect our ability to offer or continue to offer securities to our
investors on a U.S. or any other foreign exchanges. The CAC, CSRC or other PRC regulatory agencies may also take actions requiring
us, or making it advisable for us, to halt this offering before the settlement and delivery of the Class A Ordinary Shares that we are
offering. Consequently, if you engage in market trading or other activities in anticipation of and prior to the settlement and delivery
of the Class A Ordinary Shares we are offering, you would be doing so at the risk that the settlement and delivery may not occur. Any
uncertainties or negative publicity regarding such approval requirements could have a material adverse effect on our ability to complete
this offering or any follow-on offering of our securities or the market for and market price of our Class A Ordinary Shares.

See “Risk Factors — Risks Related
to Doing Business in China — With the promulgation of the new filing-based administrative rules for overseas offering and listing by domestic companies in China, the PRC government may exert more oversight over overseas public offerings conducted by China-based issuers, which could significantly affect our ability to offer or continue to offer our Class A Ordinary Shares to investors and could cause the value of our Class A