3 E Network Technology Group Ltd

Snapshot

3E Network is a tiny Hong Kong-based B2B IT firm pivoting toward AI infrastructure. FY2024 revenue was $4.8M (up 6%), with $765K in net profit and a healthy 49.8% gross margin, but operating cash flow was only $14K.

What's Happening Right Now

• Wed 28th Oct '26 · Reverse split: On Oct 28, 2026, 3E Network's board approved a second 2-for-1 share consolidation in five days, stacking to a cumulative 4-for-1 reverse split, with split-adjusted trading beginning Oct 30 and issued Class A shares falling from about 5.23 million to roughly 1.31 million.
• Tue 27th Oct '26 · Private placement: On Oct 27, 2026, 3E Network detailed plans to use its $5.0 million private placement for AI storage controller R&D, early infrastructure at its Mikkeli, Finland compute center, and working capital; CEO Tingjun Yang subscribed about $2.1 million of the raise through an affiliated entity.
• Fri 23rd Oct '26 · Related-party financing: On Oct 23, 2026, 3E Network signed a subscription agreement for a $5 million unregistered private placement of 2,751,789 Class A shares at about $1.817 per share, with the CEO-controlled entity subscribing roughly $2.1 million as the largest related-party purchaser.
• Fri 23rd Oct '26 · Reverse split: On Oct 23, 2026, 3E Network announced an initial 2-for-1 share consolidation of its Class A and Class B shares, effective at the Oct 30 open, cutting Class A shares outstanding from about 5.23 million to about 2.62 million under a new CUSIP.
• Fri 23rd Oct '26 · Offering: Priced a private placement (PIPE) for $5.00M in gross proceeds (closing not yet reported in the filings reviewed).
• Thu 22nd Oct '26 · Hardware order: After signing an approximately $5.0 million core storage hardware sales contract on Oct 21, 2026, 3E Network's Hong Kong subsidiary began phased shipment of enterprise memory modules and storage controllers under the order on Oct 22, 2026.
• Wed 2nd Sep '26 · Offering: Priced a private placement (PIPE) for $1.00M in gross proceeds (closing not yet reported in the filings reviewed).
• Wed 26th Aug '26 · Registration: Registered 3.85M shares for sale on Form S-1.
• Tue 18th Aug '26 · Dilution filing: In an F-1/A filed Aug 18, 2026, 3E Network registered resale of up to 15.4 million shares under a $20 million equity line of credit plus 21 million shares tied to a convertible note and warrants sold to an affiliated fund, combining for over 1,013% of shares outstanding at the time; the prospectus itself warned of significant dilution and downward price pressure.