Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 106

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 106
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 obstacles to obtaining information needed for
shareholder investigations or litigation outside mainland China or otherwise with respect to foreign entities. Although the local authorities
in mainland China may establish a regulatory cooperation mechanism with the securities regulatory agencies of another country or region
to implement cross-border supervision and administration, such regulatory cooperation with the securities regulatory agencies in the U.S. have
not been efficient in the absence of mutual and practical cooperation mechanism. According to Article 177 of the PRC Securities
Law which became effective in March 2020, no overseas securities regulator is allowed to directly conduct investigation or evidence
collection activities within the territory of the PRC. Accordingly, without the consent of the competent PRC securities regulatory
agencies and relevant authorities, no organization or individual may provide the documents and materials relating to securities business
activities to overseas parties. See “Risk Factors — Risks Associated with This Offering —You may face difficulties in protecting your interests, and your ability to protect your rights through U.S. courts may be limited, because we are incorporated under BVI law” for risks associated with investing in us as a BVI company.

Our Class A Ordinary Shares may be delisted under the HFCA Act if the PCAOB is unable to inspect our auditors for two consecutive years. The delisting of our Class A Ordinary Shares, or the threat of their being delisted, may materially and adversely affect the value of your investment.

The HFCA Act was enacted on December 18, 2020.
The HFCA Act states if the SEC determines that a company has filed audit reports issued by a registered public accounting firm that has
not been subject to inspection by the PCAOB for three consecutive years beginning in 2021, the SEC shall prohibit such ordinary shares
from being traded on a national securities exchange or in the over the counter trading market in the U.S. On December 23, 2022, the AHFCA
Act was enacted, which amended the HFCA Act by requiring the SEC to prohibit an issuer’s securities from trading on any U.S. stock
exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three. As a result, the time period
before our Ordinary Shares may be prohibited from trading or delisted has been reduced accordingly.

On March 24, 2021, the SEC adopted interim final
rules relating to the implementation of certain disclosure and documentation requirements of the HFCA Act. A company will be required
to comply with these rules if the SEC identifies it as