Company: MASK
Filing Date: 2025-12-02
Form Type: POS AM
Source: 0001185185-25-001899
Chunk: 148

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-12-02
Form: POS AM
Chunk 148
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Our total revenues increased by US$822,214, or 2214.40%, to US$859,344 for the year ended June 30, 2024 from US$37,130 for the year ended June 30, 2023. The increase in overall revenues reflects a recovery from the operational challenges experienced during the year ended June 30, 2023, caused by COVID-19 restrictions in our operating markets. The growth is also contributed by our efforts in attracting new customers.

Revenue from software development services increased by US$822,214 or 2214.40% to US$859,344 for the year ended June 30, 2024 from US$37,130 for the year ended June 30, 2023. It was mainly driven by our efforts to expand our customer base and develop new software customized to the needs of new customers.

Cost of revenues

Our cost of revenues mainly comprised of outsourcing fees, employee salaries, social security dues and housing funds, and other incidental costs. Cost of revenues increased by US$23,558 or 321.04% to US$30,896 for the year ended June 30, 2024 from US$7,338 for the year ended June 30, 2023. The increase in cost of revenues was primarily caused by our efforts to expand the customer base, and it was aligned with our overall revenue growth. As a percentage of revenue, our cost of revenues decreased to 3.60% for the year ended June 30, 2024 from 19.76% for the year ended June 30, 2023. The decrease was driven by technological advancements and improved product development efficiency, which resulted in a higher profit margin.

Gross profit

Our gross profit increased by US$798,656, or 2680.75%, to US$828,448 for the year ended June 30, 2024 from US$29,792 for the year ended June 30, 2023. As a percentage of revenues, our gross margin increased from 80.24% for the year ended June 30, 2023 compare to 96.40% for the year ended June 30, 2024. The increase was driven by technological advancements and improved product development efficiency, as it was aligned with our cost of revenue trends.

General and administrative expenses

General and administrative expenses decreased by US$659, or 5.72%, from