Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 147

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 147
---
 to US$149,785 for the six months ended December 31, 2024 from US$119,437 for the
six months ended December 31, 2023. The increase was mainly due to the increase in research project due to the expansion of our business.
We expect R&D expenses to increase as we develop more new products in future years.

General and administrative expenses

General and administrative expenses primarily consisted
of salary and compensation expenses relating to our finance, human resources and executive office personnel, and included rental expenses,
depreciation and amortization expenses, office overhead, professional service fees and travel and transportation costs.

General and administrative expenses increased by
US$69,741 or 53.7% from US$129,772 for the six months ended December 31, 2023 to US$199,513 for the six months ended December 31, 2024, which
was due to a combination of increase in social insurance fee of US$19,453 and bad debt expenses of US$62,093 for the six months ended December
31, 2024, compared to the social insurance fee of US$9,832 and bad debt expenses of US$36,670 for the six months ended December 31, 2023.

Exchange gain/(loss)

Exchange gain/(loss) primarily included gain and
loss from accounts receivable due to exchange rate fluctuation.

Other income, net

Other income primarily included government subsidies.

Income before income taxes

Our income before income taxes increased by US$466,199
to US$1,267,095 for the six months ended December 31, 2024 from US$800,896 for the six months ended December 31, 2023.

Provision for income taxes

Our provision for income taxes for the six months
ended December 31, 2024 was tax expense of US$197,768 and US$116,503 for the six months ended December 31, 2023, which were mainly from our
Hong Kong and PRC subsidiaries.

Net Income

Net income increased by US$384,934 or 56.2% to US$1,069,327
for the six months ended December 31, 2024 from US$684,393 for the six months ended December 31, 2023.

Other comprehensive income

Foreign currency translation adjustments amounted
to an expense of US$12,244 and an income of US$42,311 for the six months ended