3 E Network Technology Group Limited Announces 2 for 1 Share Consolidation

3 E Network Technology Group (MASK) will consolidate its ordinary shares on a 2-for-1 basis, effective October 30, 2026.

Rhea-AI Summary

3 E Network Technology Group (MASK) will consolidate its ordinary shares on a 2-for-1 basis, effective October 30, 2026.

The board approved the consolidation on October 10, 2026. Every two Class A or Class B ordinary shares will combine into one share. Class A shares will begin split-adjusted trading on the Nasdaq Capital Market on October 30 under the unchanged symbol MASK. Outstanding Class A shares will change from 5,230,209 to approximately 2,615,105, while outstanding Class B shares will change from 23,200 to approximately 11,600.

News Explained

The company’s total authorized share capital remains US$375,000 despite the lower authorized share limits.

The board-approved 2-for-1 consolidation is scheduled to take effect on October 30, 2026; at that point, the authorized Class A share limit changes from 100,000,000 to 50,000,000 and the Class B limit from 50,000,000 to 25,000,000, while par value per share changes from US$0.0025 to US$0.005.

No fractional shares will be issued: any fractional result from the consolidation will be rounded up to the next whole share.

Key Figures

Consolidation ratio: 2-for-1 Marketplace effective date: October 30, 2026 Authorized Class A shares: 100,000,000 to 50,000,000 shares +2 more

Consolidation ratio

2-for-1

Class A and Class B ordinary shares

Marketplace effective date

October 30, 2026

Split-adjusted trading begins

Authorized Class A shares

100,000,000 to 50,000,000 shares

At consolidation effectiveness

Authorized Class B shares

50,000,000 to 25,000,000 shares

At consolidation effectiveness

Par value per share

$0.0025 to $0.005

Class A and Class B ordinary shares

Key Terms

share consolidation, cusip number, par value

3 terms

share consolidation financial

"approved ... that the Company’s Class A ordinary shares ... be consolidated"

Share consolidation is a process where a company reduces the total number of its shares by combining multiple existing shares into a smaller number of higher-value shares. This can make each share more expensive and potentially improve the company’s image. For investors, it often means their ownership remains the same, but the value of each share increases, which can influence how the stock is perceived and traded.

cusip number financial

"under a new CUSIP Number, G8849D136"

A CUSIP number is a nine-character code that uniquely identifies a specific U.S. or Canadian stock, bond, or other security, similar to a barcode or a social-security number for a financial instrument. It matters to investors because it removes confusion between similar securities, ensures trades and settlements are applied to the correct issue, and helps locate official documents and transaction records quickly.

par value financial

"Class A Ordinary Shares with a par value of US$0.005 each"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

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HONG KONG, Oct. 23, 2026 (GLOBE NEWSWIRE) -- 3 E Network Technology Group Limited (Nasdaq: MASK) (the “Company” or “3e Network”), a business-to-business (“B2B”) information technology (“IT”) business solutions provider, today announced that the Company’s board of directors approved on October 10, 2026 that the Company’s Class A ordinary shares (the “Class A Ordinary Shares”) and Class B ordinary shares (the “Class B Ordinary Shares”) be consolidated on a 2 for 1 ratio with the marketplace effective date of October 30, 2026.

Beginning with the opening of trading on October 30, 2026, the Company’s Class A Ordinary Shares will trade on the Nasdaq Capital Market on a split-adjusted basis, under the same symbol “MASK” but under a new CUSIP Number, G8849D136.

As a result of the share consolidation, each two (2) ordinary shares outstanding will automatically combine and convert to one (1) issued and outstanding ordinary share without any action on the part of the shareholders. No fractional shares will be issued to any shareholders in connection with the share consolidation, and any fractional shares which would have resulted from the share consolidation will be rounded up to the next whole number.

At the time the share consolidation is effective, the Company’s authorized share capital will be changed from US$375,000 divided into: (i) 100,000,000 Class A Ordinary Shares of par value of US$0.0025 each, and (ii) 50,000,000 Class B Ordinary Shares of par value of US$0.0025 each, to US$375,000 divided into: (i) 50,000,000 Class A Ordinary Shares with a par value of US$0.005 each, and (ii) 25,000,000 Class B Ordinary Shares with a par value of US$0.005 each. The Company’s total issued and outstanding Class A Ordinary Shares will be changed from 5,230,209 Class A Ordinary Shares with a par value of US$0.0025 each to approximately 2,615,105 Class A Ordinary Shares with a par value of US$0.005 each. The Company’s total issued and outstanding Class B Ordinary Shares will be changed from 23,200 Class B Ordinary Shares with a par value of US$0.0025 each to approximately 11,600 Class B Ordinary Shares with a par value of US$0.005 each.

About 3 E Network Technology Group Limited

3 E Network Technology Group Limited is a business-to-business ("B2B") information technology ("IT") business solutions provider, committed to becoming a next-generation artificial intelligence ("AI") infrastructure solutions provider. It upholds the industry consensus of “AI and energy symbiosis” and has excellent vision in the field of energy investment. The Company’s business comprises two main portfolios: the data center operation services portfolio and the software development portfolio. For more information, please visit the Company’s website at https://3emask.com/.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.

For more information, please contact:

3 E Network Technology Group Limited
Investor Relations Department
Email: ird@3emask.com
Website: https://3emask.com/

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When does the MASK share consolidation take effect, and what is the ratio?

3 E Network Technology Group’s 2-for-1 share consolidation takes effect on October 30, 2026. Every two ordinary shares will combine into one ordinary share. Class A shares will begin trading on a split-adjusted basis that day on the Nasdaq Capital Market under the same symbol, MASK.

Do MASK shareholders need to act, and what happens to fractional shares?

MASK shareholders do not need to take any action for the share consolidation. Shares will combine automatically. No fractional shares will be issued; any fractional share resulting from the consolidation will be rounded up to the next whole share.