Company: MASK
Filing Date: 2025-01-10
Form Type: 424B4
Source: 0001213900-25-002376
Chunk: 55

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-01-10
Form: 424B4
Chunk 55
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 by almost 11 times when compared with the sales revenue for six months ended December31, 2022. In addition, our business also faced significant operational challenges, where lockdowns and restrictive policies left our offices closed from time to time. To address these challenges and uncertainties, during the height of the pandemic, all of our employees were occasionally asked to work from home. As a result, our financial performance was significantly impacted with a decline in product sales declined and operational costs increases during 2020 to 2022. However, in December 2022, the Chinese government unveiled a series of new COVID -relatedpolicies to loosen its zero -COVIDpolicy, and lifted the existing prevention and control measures that were in place for the COVID -19pandemic. On December 26, 2022, China’s National Health Commission (“NHC”) announced that the COVID -19infections will not be subject to the prevention and control measures of a Class A infectious disease, which means that COVID -19infections will no longer be included in the administration of quarantinable infectious diseases. Starting from January 8, 2023, among other changes, China no longer conducts nucleic acid tests and centralized quarantine for all inbound travelers, and measures to control the number of international passenger flights have been lifted. Nevertheless, there remains significant uncertainties surrounding COVID -19, including the continued spread of existing and new variants of COVID -19, and its lasting effect on issues ranging from supply chains, consumer prices, to economic conditions. The extent to which the long -termeffects of the pandemic may continue to affect our results of operations may be difficult to predict, as the resulting disruptions on our operations may continue extending over a prolonged period. 24 Our limited operating history subsidiaries may not be indicative of our future growth and may make it difficult to predict our future prospects, business and financial performance. We may not be able to achieve anticipated growth, which could materially and adversely affect our business and prospects. We have a relatively short operating history, with significant but uneven growth, interrupted by significant disruptions of the COVID -19pandemic. Our revenues declined from $2,164,119 in the year ended June30, 2021 based on management account to $1,296,377 in the year ended June30, 2022, but rebounded to $1,671,351 in the year ended June30, 2023, and continuously grew to $4,561,963 in the year ended June30, 2024