Company: MASK
Filing Date: 2025-12-02
Form Type: POS AM
Source: 0001185185-25-001899
Chunk: 20

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-12-02
Form: POS AM
Chunk 20
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 in
China — Because substantially all of our operations are in China historically, and we expect to generate revenue in China through our wholly-owned subsidiary based in Hong Kong, we face risks arising from the legal system in China, including risks and uncertainties regarding the enforcement of laws and that rules and regulations in China can change quickly with little advance notice. The PRC government may exercise oversight and discretion over the conduct of our business or may intervene or influence our operations at any time, and our operations may be affected by evolving regulatory policies, all of which could result in a material change in our operations or the value of our securities, significantly limit or completely hinder our ability to offer or continue to offer securities to investors, or cause the value of our securities to significantly decline or become worthless.”, “We are subject to the laws and regulations of the PRC, which can change quickly with little advance notice and differs in material aspects from the laws of the United States.”

There are significant liquidity risks related to our
Class A Ordinary Shares and certain limitations on our ability to transfer cash between us or our Hong Kong subsidiary. In order for
us to pay dividends to our shareholders, we may rely on the distribution of profits of the Hong Kong subsidiary to our BVI
subsidiary. PRC regulations currently permit the payment of dividends only out of accumulated profits, as determined in accordance with
accounting standards and PRC regulations. To the extent any funds or assets in the business is in mainland China or a mainland China
entity, the funds or assets may not be available to fund operations or for other use outside of mainland China, unless such transfer
of cash or assets are in compliance with the requirements of relevant PRC laws and regulations as mentioned above. Otherwise, our ability
to transfer funds, pay dividends or make distribution may be restricted. See “Prospectus Summary — Summary of Significant
Risk Factors — Risks Related to Doing Business in China — To the extent any funds or assets in the business is in mainland China or a mainland China entity, the funds or assets may not be available to fund operations or for other use outside of mainland China.”, and “Risk Factors — Risks Related to Doing Business in China — To the extent any funds or assets in the business is in mainland China or a mainland China entity, the funds or assets may not be available to fund operations or for other use outside of mainland China.”

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Furthermore, if our subsidiaries in mainland China
incur debt on their own in the