Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 53

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 53
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 Service Portfolio
business constituted approximately 0.7% and 1.4% of total revenues for the years ended June 30, 2024 and June 30, 2023, respectively.
We did not generate revenue from this business segment in the six months ended December 31, 2024 and 2023. Our business is sensitive to
adverse trends in the event and hospitality industry, including declines or disruptions in the demand for events, exhibitions and conferences,
like those due to economic downturns, natural disasters, geopolitical upheaval and global pandemic (such as the global COVID-19 pandemic),
and discretionary consumer and corporate spending. Any decline in attendance at or reduction in the number of events, as well as any restrictions
on the hospitality industry to host events, has had and is expected to continue to have an adverse effect on our revenue and operating
income would adversely affect our business, results of operations and financial conditions.

The event and hospitality industry has suffered
significant loss during the past three years, and have yet to fully recover from the COVID-19 pandemic. As a result of the COVID-19
pandemic, many in-person conferences scheduled for 2020 beginning in late February/early March 2020 were cancelled. The industry
began holding virtual conferences during the second half of 2020. These virtual conferences resulted in significantly less revenue and
gross contribution. Some of our customers have re-launched in-person destination conferences during the second quarter of 2022 and expect
to focus on in-person destination conferences in future periods as conditions permit. Although many of our customers have returned to
offering some in-person conferences, our revenues may continue to be negatively impacted if in-person conferences are not permitted to
be held in the jurisdictions of the conference venues, if local policies prohibit or restrict business travel or if there are public health
concerns for attendees, exhibitors or conference employees.

As the event and hospitality industry depends largely
on the ability and willingness of people, whether exhibitors, event attendees, tourists, or others, to travel, factors adversely affecting
the travel industry, and particularly the airline and hotel industries, generally also adversely affect our and our customers’ business
and results of operations. Factors that could adversely affect the travel industry include high or rising fuel prices, levels of consumer
discretionary or corporate marketing spending, increased security and passport requirements, weather conditions, health epidemics, pandemics
and endemics, airline accidents, acts of terrorism, and international