Company: MASK
Filing Date: 2025-06-24
Form Type: F-1
Source: 0001185185-25-000685
Chunk: 153

Company: 3 E Network Technology Group Ltd
Filing Date: 2025-06-24
Form: F-1
Chunk 153
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 available from the activities mentioned above, should enable us to meet presently
anticipated cash needs for at least the next 12 months after the date that the consolidated financial statements are issued and we
have prepared the consolidated financial statements on a going concern basis. However, we continue to have ongoing obligations and we
expect that we will require additional capital in order to execute our longer-term business plan. If we encounter unforeseen circumstances
that place constraints on our capital resources, management will be required to take various measures to conserve liquidity, which could
include, but not necessarily be limited to, initiating private and public offerings, curtailing our business development activities, suspending
the pursuit of our business plan, obtaining credit facilities, controlling overhead expenses and seeking to further dispose of non-core
assets. Management cannot provide any assurance that we will be able to raise additional capital if needed.

Substantially all of our operations are conducted
in China and all of our revenue, expenses, cash and cash equivalents are denominated in RMB. RMB is subject to the exchange control
regulation in China, and, as a result, we may have difficulty distributing any dividends outside of China due to PRC exchange control
regulations that restrict our ability to convert RMB into U.S. dollars. As of December 31, 2024, cash and cash equivalents of approximately
RMB507,698 (US$69,554), HKD5,951 (US$766), USD1,270 were held by the Company and its subsidiaries in mainland China, and Hong Kong. We
would need to accrue and pay withholding taxes if we were to distribute funds from our subsidiaries in China to our offshore subsidiaries.
We do not intend to repatriate such funds in the foreseeable future, as we plan to use existing cash balance in PRC for general corporate
purposes.

In assessing our liquidity, we monitor and analyze
our cash on hand, our ability to generate sufficient revenue sources in the future and our operating and capital expenditure commitments.
The Company plans to fund working capital through its operations, bank borrowings and additional capital contribution from shareholders.
Our operating cash flow was positive for the six months ended December 31, 2024. We have historically funded our working capital
needs primarily from operations, advance payments from customers and loans from shareholders. Our working capital requirements are affected
by the efficiency of our operations, the numerical volume and dollar value of our sales contracts, the progress or execution on our customer
contracts, and the timing of