Company: MASK
Filing Date: 2025-11-25
Form Type: F-1
Source: 0001185185-25-001852
Chunk: 250

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-11-25
Form: F-1
Chunk 250
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 Group does not expect that its assessment regarding
unrecognized tax positions will materially change over the next 12 months.

F-23 3 E NETWORK TECHNOLOGY GROUP LIMITED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 12. Ordinary Shares As of June 30, 2024, the Company had 1,000Ordinary Shares, with par value of US$ 1each. On January 3, 2024, the Company filed the Amended and Restated Articles with the Registrar of Corporate Affairs to increase its authorized shares from 50,000ordinary shares, par value of $ 1per share, to 500,000,000ordinary shares, par value of $ 0.0001per share, consisting of (i) 400,000,000Class A Ordinary Shares, par value of $ 0.0001, and (ii) 100,000,000Class B Ordinary Shares, par value of $ 0.0001. In respect of matters requiring a shareholders’ vote, holders shall be entitled to one vote per share on all matters subject to the vote at general meetingsof our company, while holders of Class B Ordinary Shares shall be entitled to 20votes per share. Simultaneously, the Company effectuated a forward split of all issued and outstanding ordinary shares at a ratio of 1-for-10,000, and converted all existing issued and outstanding ordinary shares into Class A Ordinary Shares of the Company at a ratio of 1-for-1.As a result, as of the date hereof, there were 10,000,000issued and outstanding Class A Ordinary Shares of the Company. Such share number are retrospectively applied to all period presented as if the 10,000,000Class Ordinary Shares and nilClass B Ordinary Shares existed from the begining of the first year presented. On January 10, 2025, the Group issued 1,250,000Class A Ordinary Shares at $ 4.00per share for a total of $ 5,000,000gross proceeds in its Initial Public Offering (“IPO"). Net proceeds from the IPO was $ 1,695,539, net of expenses primarily including legal fees and audit fees. On January 24, 2025, the board of directors approved the issuance of 300,000shares of Class B Ordinary Shares to Ms. Jianping Niu and 280,000Class B Ordinary Shares to Mr. Huabei Zhu, totaling 580,000shares with a