Company: MASK
Filing Date: 2025-01-10
Form Type: 424B4
Source: 0001213900-25-002376
Chunk: 160

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-01-10
Form: 424B4
Chunk 160
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 2023 Revenue from the Software Industry in major cities grew steadily, while total proﬁt dropped slightly. The MIIT surveyed the software industries in 15 major cities (or “sub -provincialcities”), where the heads of government ranked at the sub -provinciallevel because of its size in population, economic significance or for being the seat of a provincial government. In 2023, 15 major cities surveyed in the MIIT report across the country achieved revenue from Software Industry of RMB5,960.4 billion, representing 48.4% of the national software industry revenue, and a year -on -yearincrease of 11.2%. The growth rate was 1.2% higher than that of previous year. The total proﬁt achieved in these 15 sub -provincialcities was RMB793.6 billion, a year -on -yearincrease of 15.6%, the growth rate was 13.2% higher than that of the previous year. Among them, the year -on -yeargrowth rate of software business revenue in Harbin, Wuhan, Dalian, Shenzhen, Jinan, Xiamen and Shenyang exceeded the industry average. 88 Figure 7 Top 10 Growth of software business revenue in sub -provincialcities in 2023 89 BUSINESS Business Overview We are a business -to -business(“B2B”) information technology (“IT”) business solutions provider. Through our two PRC subsidiaries, Guangzhou Sanyi Network and Guangzhou 3E Network, we started as a business that focuses on integrated software and hardware solutions in the property management and exhibition services spaces, but expanded our software solutions offering to a variety of industries and sectors, including food establishments, real estate, exhibition & conferencing, and clean energy utilities. Our business includes two main portfolios, namely the software development portfolio and exhibition and conference portfolio, and the proportion of revenue from each of these two main portfolios was 99.25% and 0.74% in the year ended June30, 2024, respectively, and 98.6% and 1.4% in the year ended June30, 2023, respectively. Guangzhou Sanyi Network primarily serves our software development and exhibition and conference portfolios, while Guangzhou 3E Network primarily focuses on expanding into the solar energy sector. 1. Software Development Portfolio As an IT business solution provider, we take pride in our technical acumen in delivering software