Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 143

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 143
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, results of operations and cash flows. Therefore, it is important that we develop new products and new customers.
For the year ended June 30, 2024, our total revenue increased by 173.0%, or US$2,890,612, compared to the year ended June 30,
2023. The revenue for the year ended June 30, 2024 derived from new customers amounted to US$4,267,601, or 93.5% of our total revenue,
while revenues from our existing customers only represented 6.7% for the same period. For the six months ended December 31, 2024, revenue
derived from new customers amounted to US$2,917,618 or 93.3% of our total revenue. For the six months ended December 31, 2023, the revenue
derived from new customers amounted to US$2,701,157, or 90.9% of our revenue.

| ● | Our ability to expand our software product range.    Based on our experience, our revenue from existing                                          
 customers will drop after they have installed the basic software system. Therefore, it is important that we introduce new software products      
 that meet the evolving needs of our customers and attract new customers. Our product design team is in close contact with participants           
 in the markets that we operate to gain first-hand knowledge of the latest trends and issues of concerns to the participants in the markets,      
 which allows us to design software products that can improve the efficiency of our customers and meet their needs in a cost-effective            
 way. Also, through research and development, we have actively invested in broadening our product lines. Due to the concentration of our          
 customer base and our billing model as a seller of one-time software solution rather than as a Software-as-a-Service (SaaS) provider,            
 we will need to continue to launch new products to serve our existing customers and attract new customers. In 2023, we launched a new            
 software product category, solar plant management system, which generated US$386,420 in revenue and accounted for 23.5% of software development  
 services revenue in the years ended June 30, 2023. In 2024, we developed software products for Intelligent music generation and highway          
 monitoring and control, which generated US$1,125,680 and US$776,452 in revenue and accounted for 24.7% and 17.0% of software development service 
 revenue in the