Welcome to our dedicated page for 3 E Network Technology Group news (Ticker: MASK), a resource for investors and traders seeking the latest updates and insights on 3 E Network Technology Group stock.
MASK delivers specialized solutions in property management and enterprise IT services, serving diverse sectors through integrated technology platforms. This dedicated news hub provides stakeholders with verified updates directly from corporate operations.
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3 E Network Technology Group (MASK) reported strong financial results for H1 FY2025. Revenue increased 5.3% to $3.13 million, driven by expanded software development services. Gross profit surged 49.3% to $1.59 million, with gross margin improving from 35.9% to 50.9% year-over-year.
Net income grew 56.2% to $1.07 million, with EPS increasing 57.1% to $0.11. R&D expenses rose 25.4% to $149,785, while cost of revenue decreased 19.2% through outsourcing and focus on high-margin business.
The company completed its IPO on January 10, 2025, raising $5 million by offering 1.25 million shares at $4.00 each. Cash and equivalents stood at $71,590 as of December 31, 2024.
3 E Network Technology Group (MASK) has announced a strategic equity investment in HashBeaver, a Singapore-based cloud mining platform company. Through a non-binding Memorandum of Understanding (MoU), 3e Network plans to acquire a 4.9% equity stake in HashBeaver at a pre-money valuation of $30 million.
HashBeaver has demonstrated significant operational achievements, including:
- Management of 9.6 EH/s of computing power
- Establishment of 5 global mining facilities
- Completion of 290 MW capacity as of July 2, 2024
- Projected capacity increase to 425 MW by end of 2024
The partnership aims to combine 3e Network's B2B software expertise with HashBeaver's blockchain infrastructure. HashBeaver has also secured strategic investment from MinerVa Semiconductor, a cryptocurrency mining hardware manufacturer.
3 E Network Technology Group (MASK), a B2B IT solutions provider, has successfully completed its initial public offering on the Nasdaq Capital Market. The company offered 1,250,000 Class A ordinary shares at $4.00 per share, raising gross proceeds of $5.00 million. Trading began on January 8, 2025, under the symbol 'MASK'.
The underwriters have a 45-day option to purchase up to 187,500 additional shares at the public offering price. The proceeds will fund business expansion, working capital, R&D, and talent development. Craft Capital Management and Boustead Securities, served as underwriters for this firm commitment offering.
3 E Network Technology Group (MASK) has announced the pricing of its initial public offering on the Nasdaq Capital Market. The company is offering 1,250,000 Class A ordinary shares at $4.00 per share, aiming to raise approximately $5.00 million in gross proceeds. Trading is expected to commence on January 8, 2025, under the ticker symbol 'MASK'.
The underwriters have a 45-day option to purchase up to 187,500 additional shares. The offering is expected to close around January 10, 2025. Proceeds will be used for business expansion, working capital, R&D, and talent development. Craft Capital Management and Boustead Securities, are acting as underwriters for this firm commitment offering.
