Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 148

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 148
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 December 31, 2024 and 2023, respectively. The balance sheet
amounts with the exception of equity as of December 31, 2024 were translated at 7.2993 RMB to 1.00 USD as compared to 7.0999 RMB to 1.00
USD as of December 31, 2023. The equity accounts were stated at their historical rate. The average translation rates applied to the income
statements accounts for the six months ended December 31, 2024 and 2023 were 7.1767 RMB to 1.00 USD and 7.2347 RMB to 1.00 USD, respectively.
The change in the value of the RMB relative to the U.S. dollar may affect our financial results reported in the U.S, dollar terms without
giving effect to any underlying change in our business or results of operation.

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For the years ended June 30, 2024
and 2023

Revenues

We derive our revenues by providing IT consulting
and solutions, mainly including: (1) software development services, which primarily includes customized software development service
with acceptance requirement, which are billed on a fixed price basis, (2) exhibition and conference services, where we provide hardware
and personnel to exhibition and conference organizers for a fixed price over an agreed period, generally covering the set up time and
the exhibition and/or conference period, (3) hardware sales of gates and face recognition gate units and (4) others which includes
transaction-based commissions for providing client with property management fee collection tools.

The following table presents our revenues by our
service lines.

|                                    |     |         |    Year ended 
 June 30, 2024 |     |   |       |     |         |    Year ended 
 June 30, 2023 |     |   |       |     |          |           |     |   |       |   |
|:-----------------------------------|:----|:--------|--------------:|:----|:--|------:|:----|:--------|--------------:|:----|:--|------:|:----|:---------|----------:|:----|:--|------:|:--|
|                                    |     | Revenue |               |     | % |       |     | Revenue |               |     | % |       |     | Variance |           |     | %