Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 41

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 41
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 governmental authorities to strengthen cross-border law-enforcement
and judicial cooperation, enhance supervision over China-based companies listed overseas, and establish and improve the system of extraterritorial
application of the PRC securities laws.

In addition, on December 28, 2021, the CAC
adopted an amended Cybersecurity Review Measures, which became effective on February 15, 2022. Pursuant to the Cybersecurity Review
Measures, online platform operators holding more than one million users’ individual information shall be subject to cybersecurity
review before listing abroad. We believe that we may not be subject to the cybersecurity review by the CAC, pursuant to the Cybersecurity
Review Measures and the Data Security Management Regulations, given that:
(i) we presently maintain fewer than one (1) million individual customers in our business operations as of the date of this
prospectus; and (ii) data processed in our business is less likely to have a bearing on national security, thus it may not be classified
as core or important data by the authorities.

Furthermore, on February 17, 2023, the CSRC
promulgated the Trial Administrative Measures and five supporting guidelines, which became effective on March 31, 2023. According
to the Trial Administrative Measures, among other requirements, any domestic companies that seek to offer or list securities overseas,
including those indirect overseas offering and listing which meet certain conditions, should fulfil the filing procedures with the CSRC
within three business days after the submission of the overseas offering and listing application. We believe that we are required
to complete filing procedures with the CSRC pursuant to the Trial Administrative Measures. We submitted the initial filing documents to
the CSRC on October 9, 2023, and the CSRC published the notification on our completion of the required filing procedures on January 8,
2024 for this offering. As the Trial Administrative Measures was newly published, the implementation and interpretation thereof is subject
to change, if the filing procedure with the CSRC under the Trial Administrative Measures is required for any future offerings or any other
capital raising activities, we cannot assure you that we will be able to complete such filings in a timely manner, or even at all. Any
failure by us to comply with such filing requirements under the Trial Administrative Measures may result in an order to rectify, warnings
and fines against us and could materially hinder our ability to offer or to continue to offer our securities. On February 24, 2023,
the CSRC