Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 40

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 40
---
 our corporate structure
as of the date of this prospectus, 40% of the equity interests of Guangzhou Sanyi Network are held by HK 3e Network, and 100% of the equity
interests of HK 3e Network are held by BVI 3e Holdings. Therefore, each of our subsidiaries should be regarded as a foreign-invested enterprise
and comply with both the PRC Company Law and other applicable foreign investment laws.

Increase of Authorized Shares and Forward Stock Split and Conversion

On January 3, 2024, the Company filed the Amended and Restated Memorandum
and Articles of Association (“Amended and Restated Articles”) with the Registrar of Corporate Affairs of BVI to increase our
authorized shares from 50,000 ordinary shares, par value US$1 per share, to 500,000,000 ordinary shares, par value US$0.0001 per share, consisting
of (i) 400,000,000 Class A Ordinary Shares, par value US$0.0001 per share, and (ii) 100,000,000 Class B Ordinary Shares, par value US$0.0001
per share. Simultaneously, the Company effectuated a forward split of all issued and outstanding shares at a ratio of 1-for-10,000, and
converted all existing issued and outstanding ordinary shares into Class A Ordinary Shares of the Company at a ratio of 1-for-1. As a
result, as of the date hereof, there are 10,000,000 issued and outstanding Class A Ordinary Shares of the Company.

Recent Regulatory Development in PRC

We are a holding company incorporated in the BVI
with all of our operations conducted by the operating entities in mainland China and Hong Kong. We are aware that, recently, the
PRC government initiated a series of regulatory actions and statements to regulate business operations in certain areas in mainland China,
including cracking down on illegal activities in the securities market, enhancing supervision over China-based companies listed overseas
using VIE structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement.
For example, on July 6, 2021, the General Office of the Communist Party of China Central Committee and the General Office of the
State Council jointly issued a document to crack down on illegal activities in the securities market and promote high-quality development
of the capital market, which, among other things, requires the relevant