Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 5

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 5
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 Factor — Risks Related to Doing Business in China — The PRC government has significant authority to exert influence on our operations in mainland China. Mainland China’s economic, political and social conditions, as well as changes in any government policies, laws and regulations may be quick and, could have a material adverse effect on our business and the value of our Class A Ordinary Shares.”, and under “Risk Factor — Risks Related to Doing Business in China — We are subject to the laws and regulations of the PRC, which can change quickly with little advance notice and differ in material aspects from the laws of the United States.”

The operational risks associated with being based
in and having operations in China also apply to operations in Hong Kong. With respect to the legal risks associated with being based in
and having operations in China, the laws, regulations and discretion of the governmental authorities in China discussed in this prospectus
are expected to apply to entities and businesses in mainland China, rather than to entities or businesses in Hong Kong which operate under
different sets of laws from those of mainland China.

The PRC government initiated a series of regulatory actions and made
a number of public statements on the regulation of business operations in China, including cracking down on illegal activities in the
securities market, enhancing supervision over China-based companies listed overseas using a variable interest entity (VIE) structure,
adopting new measures to extend the scope of cybersecurity reviews, and expanding efforts in anti-monopoly enforcement. On February 17,
2023, the China Securities Regulatory Commission (the “CSRC”) issued the Trial Administrative Measures of Overseas Securities
Offering and Listing by Domestic Companies (the “Trial Administrative Measures”) and relevant supporting guidelines (collectively,
the “New Administrative Rules Regarding Overseas Listings”), which came into force since March 31, 2023. According to
the New Administrative Rules Regarding Overseas Listings, among other things, a domestic company in the PRC that seeks to offer and list
securities in overseas markets, both directly and indirectly, shall fulfill the filing procedure with the CSRC as per requirement of the
Trial Administrative Measures. Where a domestic company seeks to directly offer and list securities in overseas markets, the issuer shall
file with the CSRC. Where a domestic company seeks to indirectly offer and list securities in overseas markets, the issuer shall
designate a major domestic operating entity, which shall, as the domestic responsible entity, file with the CSRC. Initial public
offerings or listings in overseas markets shall be filed