Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 290

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 290
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|:----|-------------:|:----|:----|---------:|
|                           |     | US$ |              |     | US$ |          |
| Deferred tax assets       |     |     |       39,872 |     |     |  104,857 |
| Less, valuation allowance |     |     |            — |     |     |        — |
| Deferred tax assets, net  |     |     |       39,872 |     |     |  104,857 |

Deferred tax assets represented
net operating losses (NOLs) carryforward and accrued credit losses expense. Total NOLs carryforwards of the Group’s subsidiary in
mainland China is RMB989,572 and RMB2,708,625 as of December 31, 2024 and June 30, 2024, respectively. As of December 31,
2024, nil NOL would expire by 2024 if not utilized. For the six months ended December 31, 2024 and 2023, deferred tax assets
from accrued credit losses expense were RMB43,644 and nil, respectively.

For the six months
ended December 31, 2024 and 2023, the Group did not have any material interest or penalties associated with tax positions. The Group
did not have any significant unrecognized uncertain tax positions as of December 31, 2024 or June 30, 2024. The Group does not
expect that its assessment regarding unrecognized tax positions will materially change over the next 12 months.

8. Ordinary Shares

As of December 31, 2024
and June 30, 2024, the Company had 10,000,000 Ordinary Shares, with par value of US$0.0001 each. On January 3, 2024, the
Company filed the Amended and Restated Articles with the Registrar of Corporate Affairs to increase its authorized shares from 50,000
ordinary shares, par value of US$1 per share, to 500,000,000 ordinary shares, par value of US$0.0001 per share, consisting of (i) 400,000,000
Class A Ordinary Shares, par value of US$0.0001, and (ii) 100,000,000 Class B Ordinary Shares, par value of US$0.0001. In respect
of matters requiring a shareholders’ vote, holders of Class A Ordinary Shares