Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 30

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 30
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 the PRC Ministry of Industry and Information Technology (the “MIIT”) shows that in 2023, total revenue
of the industry surpassed RMB12 trillion with profitability remaining steady and export continuing to grow. More than 380,000 companies
in the Software Industry reached the milestone of receiving more than RMB5 million in revenue for their core operations in 2023.
Total revenue from the Software Industry was RMB12,325.8 billion, a year-on-year increase of 13.4%, the growth rate went up by 2.2%
when compared with that of 2022. The total profit of the Software Industry was RMB1,459.1 billion in 2023, a year-on-year increase
of 13.6%. Compared against 2022, the rate of increase went up by 7.9% and the profit ratio of the main business of surveyed companies
in the industry increased by 0.1% to 9.2%. Export sales of Software Industry amounted to USD 51.42 billion, a decrease of 3.6%
year-on-year, but was 5.4% higher than the growth rate in 2022, according to the MIIT.

In 2023, the domestic revenues from the sales of
software products, IT services, information security products and services, and embedded system software were RMB2,903 billion, RMB8,122.6 billion,
RMB223.2 billion and RMB1,077 billion, respectively.

There are several factors driving the overall growth
of China’s IT services industry, including the growth of China’s economy and domestic demand for IT services, the strategic
importance of China as a target market for global customers, strong offshore outsourcing demand, availability of low-cost qualified IT
professionals with global and regional language skills, well-developed infrastructure in China and strong government support and spending.
We believe that the market development trends include a growing emphasis on big data services, innovation in channel solutions, risk management
and prevention and more customer-oriented services. With our technical expertise, we believe that we are well positioned to capture the
market opportunities in the IT services industry in China.

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The COVID-19 pandemic has affected every industry, and has disrupted trade, supply chains, work and business models, employment and consumer behaviors. The pandemic presents both challenges and opportunities. During the pandemic, companies across the world had to accelerate their digital transformation initiatives to