3 E Network Technology Group Limited Receives Determination Letter from Nasdaq

HONG KONG, Oct. 30, 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, received a written determination letter (the “Staff Determination”) from the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) on October 27, 2026, notifying the Company that the Staff has determined to delist the Company’s Class A ordinary shares from The Nasdaq Capital Market unless the Company timely requests a hearing before an independent Hearings Panel (the “Panel”).

The Staff Determination was issued pursuant to Nasdaq Listing Rule 5810(c)(3)(A)(iv) on the following grounds: (i) the closing bid price of the Company’s Class A ordinary shares was below $1.00 per share for the 30 consecutive business days from September 15, 2026 through October 26, 2026, and therefore the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2), which requires a minimum bid price of at least $1.00 per share for continued listing (the “Minimum Bid Price Requirement”); and (ii) the Company is not eligible for any compliance period specified in Nasdaq Listing Rule 5810(c)(3)(A) because it effected a one-for-twenty-five (1-for-25) reverse share split on March 16, 2026, within the prior one-year period.