NewzIntel.com

Category: Asia Pacific

  • MIL-OSI New Zealand: Barrio Brings the Taste of Home to Filipinos in New Zealand

    Source: Press Release Service – Press Release/Statement:

    Headline: Barrio Brings the Taste of Home to Filipinos in New Zealand

    Barrio, a new Filipino online grocery store, has officially launched in New Zealand. Founded by the team behind Bini Beauty, Barrio offers a wide selection of authentic Filipino products, including Mama Sita’s meal mixes, shrimp paste, chili garlic oil, Burong Hipon (fermented shrimp), sauces, childhood snacks, and Filipino coffee. With free shipping on orders over $100, Barrio aims to bring the comfort and flavours of home to Filipinos living in New Zealand. The store offers an easy online shopping experience, making it simple to enjoy beloved Filipino flavours no matter the distance.

    The post Barrio Brings the Taste of Home to Filipinos in New Zealand first appeared on PR.co.nz.

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    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Brace yourself – Windy weather ahead for Wellington drivers

    Source: New Zealand Transport Agency

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    Wellington drivers will need to take extra care on the region’s roads with wind weather warnings in force.

    The Metservice has issued a Strong Wind Watch for the region from one am Tuesday morning to one pm Tuesday afternoon. North to northwest winds are forecast to approach severe gale in exposed places.

    It means drivers will need to exercise caution on exposed routes like State Highway 2 Remutaka Hill and the Wainui Saddle on State Highway 1 Transmission Gully.

    This particularly applies to drivers of high-sided vehicles (eg trucks and vans), light and towing vehicles, and motorcycles.

    Strong winds increase the risk of treefalls, downed powerlines and wind-blown debris. Road users should be ready for such hazards and should check road and weather conditions before they travel.

    Tags

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: New High Dependency Unit will expand critical care services in Wellington

    Source: New Zealand Government

    Health Minister Simeon Brown has today officially opened Wellington Regional Hospital’s first High Dependency Unit (HDU).“This unit will boost critical care services in the lower North Island, providing extra capacity and relieving pressure on the hospital’s Intensive Care Unit (ICU) and emergency department.“Wellington Regional Hospital has previously relied on the ICU for all patients that require critical care. This includes high dependency patients who do not need the same level of care as intensive care patients.“This was putting significant pressure on the ICU, which was often at capacity with unplanned admissions, and impacted its ability to support elective surgery admissions. As a result, planned surgeries that required significant post-operative care, such as heart surgery or major cancer surgery, would be postponed.“The ICU being at capacity was also creating patient flow issues and causing longer wait times for patients in ED needing critical care as they waited for a bed to become available.“The addition of an HDU now means that patients who do not need to be in the ICU but are not well enough to be discharged to a ward and still require close observation can be cared for in a separate unit.“Expanding critical care capacity and ensuring that patients are cared for in the right environment will free up bed availability and help to improve hospital flow from the emergency department, while also reducing the need to postpone planned surgeries.“This is key to achieving the Government’s health target for shorter stays in emergency departments and shorter wait times for elective treatment.“The unit will have 12 beds and the latest in critical care equipment, and will be staffed by intensive care specialists, registrars, and critical care trained nurses.“Improving health infrastructure is a priority for the Government to enable access to timely, quality healthcare. This new HDU will enhance health services for the region, ensuring patients in the lower North and upper South Islands who require support after major surgery will be able to receive it when they need it,” Mr Brown says.

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Safety switch: Date set for Average Speed Camera trial

    Source: New South Wales Premiere

    Published: 16 March 2025

    Released by: Minister for Regional Transport and Roads, Minister for Roads

    Average speed cameras will be switched on to warning mode for light vehicles in two key regional locations from 1 May.

    The trial, a recommendation from the 2024 NSW Road Safety Forum, will see the NSW Government flick the switch on cameras which measure a 15km stretch of the Pacific Highway between Kew and Lake Innes and cameras on the Hume Highway which measure a 16km stretch between Coolac and Gundagai to capture speeding light vehicles.

    These two stretches have been chosen based on several factors, including known crash history. There were a combined total of six fatalities and 33 serious injuries between 2018 and 2022 at these locations.

    In NSW average speed cameras only enforce speeding offences for heavy vehicles, however data shows that in the past five years (2018-2022) almost 80% of all fatalities and serious injuries across all existing 31 average speed camera lengths in NSW did not involve a heavy vehicle.

    NSW is unique in that it’s the only place known to use these cameras for just a subset of vehicles. Most other Australian jurisdictions either use Average Speed Cameras for all vehicles or plan to do so in the future. Studies from around the world have shown that average speed enforcement for all vehicles leads to significant reductions in crash-related injuries and fatalities.

    The trial will have a two-month warning letter period for light vehicle drivers caught speeding on both lengths of road before it is switched to full enforcement mode. From 1 July, those detected speeding will face fines and demerit point penalties. Existing enforcement of heavy vehicle offences at these sites will be unaffected by the trial.

    A comprehensive communications campaign will begin to roll out before the warning letter period to help alert motorists to the trial.

    Road signs will notify all drivers that their speed is being monitored by the cameras on the trial stretches, giving them the opportunity to adjust their speed as needed.

    The average speed camera trial builds on other road safety initiatives introduced by the Minns Labor Government, including:

    • seatbelt enforcement by the existing mobile phone camera detection network
    • removing a loophole to force all motorists driving on a foreign licence to convert to a NSW licence within six months
    • the demerit return trial that rewarded more than 1 million drivers for maintaining a demerit-offence-free driving record during the second year of the trial
    • doubling roadside enforcement sites used for mobile speed cameras, with the addition of 2,700 new locations where a camera can be deployed. Enforcement hours will remain the same
    • hosting the state’s first Road Safety Forum with international and local experts
    • signed National Road Safety Data Agreement with the Commonwealth

    Minister for Roads, John Graham said:

    “We know that speed remains our biggest killer on the road, contributing to 41 per cent of all fatalities over the past decade.

    “Studies from around the world show that using average speed enforcement cameras for all vehicles reduces the road toll, and road trauma.

    “We know the trial will be a change for motorists in New South Wales, so it will be supported by community and stakeholder communications. All average speed camera locations have warning signs installed.

    Minister for Regional Transport and Roads, Jenny Aitchison said:

    “Regional NSW is home to a third of the population but is where two-thirds of all road deaths happen.

    “With the majority of road trauma occurring in our regions we have chosen two regional locations to test the impact these cameras could have on road safety for all road users.

    “I know this trial will be a change, particularly for regional people who travel through the areas where these two camera lengths are in place, which is why we are committed to ensuring that the community is aware of what we are doing.

    “We will have a communications strategy in place including the use of print, radio and social media as well as variable messaging signs and mobile billboards to help communicate the trial details to drivers and riders.

    “We will also have clear warning signs installed before the enforcement sites, but most importantly we will have a 60 day warning period in place so that people have an opportunity to adjust their driving behaviour before they receive a penalty.”

    Background

    • Enforcement of average speed is generally considered a fair form of enforcement as drivers demonstrate intentional and consistent speeding behaviour over a long length of road and/or time, not only at a single point.
    • Research conducted in New South Wales in 2024 found that 68 per cent of respondents thought that average speed cameras were important in making New South Wales roads safer.
    • A 2015 study in Norway found that average speed cameras cut deaths and serious injuries by 49%. Similarly, a 2016 study in the United Kingdom showed a 36% reduction in fatal and serious injury crashes with the use of average speed cameras.
    • Average speed cameras in NSW have cut fatalities and serious injuries from crashes involving heavy vehicles. There was a reduction on fatalities and serious injuries from crashes involving heavy vehicles at average speed camera locations of about 50%, when data from the five years before they were installed is compared to the five years after installation.
    • The Road Transport Act 2013 (the Act) was amended in October 2024 so that average speed cameras can enforce speeding by all vehicle types.
    • The trial will run for 14 months in total. (2 months in warning mode, 12 months in enforcement)
    • Warning mode will begin on 1 May, enforcement mode will begin on 1 July.
    • The NSW Government will report back to Parliament on the outcomes of the trial in 2026, consistent with legislative changes made in late 2024.

    MIL OSI News –

  • MIL-OSI Australia: Custom designed armoured vehicles handed over to NSW Police Force

    Source: New South Wales Premiere

    Published: 17 March 2025

    Released by: Minister for Police and Counter-terrorism

    The NSW Government is today launching five new Tactical Armoured Vehicles, which will significantly strengthen the capability of the NSW Police Force (NSWPF) to respond to high-risk, tactical and counter-terrorism situations.

    The armoured Lenco ‘Bearcat’ vehicles were custom designed and custom built for the specific needs of the NSWPF – at a total cost of $3.5 million.

    All five Bearcats will be strategically positioned across NSW to support the work of Tactical Police and Police Negotiaters.

    Key features include ballistically rated steel and glass with riot shield covers, rotating roof hatches, spotlights, external speakers, high-tech camera systems and advanced technical and communication capabilities.

    In an Australian first, one of the new Bearcats is equipped with an extendable ramp to allow police to quickly and safely access multi-storey buildings and aircraft. This vehicle will be stationed in Sydney, the other four vehicles will be stationed in northern, western and southern regions – allowing the Tactical Operation Unit and Tactical Operations Regional Squads to quickly respond to high-risk situations.

    The five new Bearcats bring the total number of specialised armoured vehicles in NSW to six and will further allow officers to swiftly and effectively respond to high-risk and counter-terrorism situations, ensuring the safety of the people of NSW.

    Minister for Police and Counter-terrorism, Yasmin Catley said:

    “These custom vehicles will greatly improve the capability of the Tactical Operations Unit to respond to and disrupt high-risk situations across the state.

    “The NSW Police Force is world class so it’s only fitting it has modern resources and technology to fight crime and keep our community safe.

    “Only a Labor Government backs our hardworking police 100% and ensures they have the capability they need.”

    NSW Police Commissioner Karen Webb APM said:

    “These vehicles are deployed by the Tactical Operation Unit during high-risk situations.

    “This is about protecting our specialist officers.

    “All of these vehicles are bullet and blast resistant and have the capacity to transport hostages or injured personnel.”

    MIL OSI News –

  • MIL-OSI Australia: Export grants supporting Aussie businesses

    Source: Minister for Trade

    The Albanese Labor Government is rolling out larger grants for Australian exporters to help them take on the world through the Export Market Development Grants (EMDG) program.

    Since the most recent grant round opened in November 2024, the government has delivered over $74 million in grant agreements to over 700 Australian exporters.

    The average value of grant agreements executed in the most recent round has risen to $53,000. This is more than double the average grant amount for businesses than was provided under the former coalition government.

    When we came to government, it was clear that the declining size of grants significantly reduced the value of the program for our exporters. We have worked to improve the program, so that exporters have greater support and the program is more effective.

    Since its inception in 1974, the EMDG program has supported more than 51,000 Australian businesses to market their products and services in over 180 countries. It is administered by the Australian Trade and Investment Commission.

    The government is committed to continuously improve businesses’ experience in applying for EMDG, and has appointed Mr Timothy Yeend to conduct the next independent review in accordance with section 106A of the Export Market Development Grants Act 1997.

    Mr Yeend is trade expert with over 30 years’ experience working on trade and international business issues. He is a current board member of Tourism Australia and former Associate Secretary at the Department of Foreign Affairs and Trade. His knowledge of trade and what support export businesses need to compete on the global stage, coupled with his experience in government, will provide a solid foundation for this legislative review.

    Consultations will commence in May 2025, with the final report to be provided to government by November 2025, in accordance with legislative timeframes.

    MIL OSI News –

  • MIL-OSI Australia: About the Register of Foreign Ownership of Australian Assets

    Source: Australian Department of Revenue

    The Register’s role

    Foreign investment is essential to Australia’s prosperity. It helps to build our economy and enhance the wellbeing of Australians by supporting financial growth.

    The Register of Foreign Ownership of Australian AssetsExternal Link was introduced to provide transparency and extract information which we use to report on who is investing in Australian assets.

    The Register commenced operating on 1 July 2023. This Register replaced all other registers.

    Register functions

    The Register:

    • replaces existing foreign investment registers we manage (relating to agricultural and residential land, and water interests)
    • expands on assets to be registered
    • provides a streamlined experience for foreign persons to manage their investment affairs
    • supports compliance with Australia’s foreign investment framework
    • increases the government’s visibility of foreign investments made in Australia.

    Information the Register holds

    The Register holds details about foreign ownership of Australian assets, including:

    For information on registering assets other than residential property, see Steps to invest in Australian non-residential assets.

    Who is responsible for administering the Register

    The role of the Commissioner of Taxation as Registrar

    The Commissioner of Taxation is the Registrar responsible for administering the Register, under the Commonwealth Registers (Appointment of Registers) Instrument 2021.

    The Commissioner was appointed as the Registrar of the Register by the Assistant Treasurer, commencing 29 November 2022.

    The Registrar’s role in administering the Register includes:

    • maintaining accurate records of interests and changes that need to be registered for the purposes of administration of the foreign investment laws, such as case management and compliance
    • accurate reporting to government of foreign ownership in Australia.

    The visibility of interests held by foreign persons in specified assets in Australia will also inform future policy development by government.

    How the information on the Register is used

    The Registrar will take steps to protect personal information they hold about individuals against loss, unauthorised access, use, modification or disclosure and other misuse.

    Information on the Register can be used, recorded or disclosed for any purpose that protected information can be used under Division 3 of Part 7 of the FATA. Secrecy provisions apply to the information disclosed or obtained under or for the purposes of the FATA.

    It is an offence under section 128 of the FATA for a person to disclose protected information. That is unless the disclosure is permitted either under section 130V of the FATA or under one of the exceptions in Division 3 of Part 7 to the FATA.

    There are safeguards to protect an individual’s right to privacy and this applies to the information collected by the Registrar. In particular, the Registrar complies with obligations under the Australian Privacy Principles (APPs) contained in the Privacy Act 1988 and records authorities issued by the National Archives of Australia.

    Supporting legislation and reforms

    For more information, see:

    MIL OSI News –

  • MIL-OSI Australia: Registration of commercial land for foreign investors

    Source: Australian Department of Revenue

    Registering an asset

    If you are a foreign investor, you or your authorised representative must register your Australian asset after both of the following has occurred:

    You register your asset using Online services for foreign investorsExternal Link. Registration is free.

    You must also register a legal interest as lessee in a lease giving rights to occupy commercial land if the term of the lease (including any extension or renewal) is reasonably likely to exceed 5 years, at the time the interest is acquired.

    Registration is required regardless of the value.

    Who must register

    If you are a foreign person and have invested in Australian commercial land from 1 July 2023, you or your authorised representative must register the asset, unless an exemption applies. Generally, the person with the direct legal interest is required to register the commercial land with us, the Australian Taxation Office.

    Joint tenants

    If you have direct legal interest and own property jointly with one or more foreign investors, one owner must register the asset first. Other foreign owners in the joint tenant ownership will then add themselves to the registered asset.

    You need to decide which owner will register the property. Once registered, that owner will need to give the other joint tenants the Asset ID. They will then add themselves to the asset.

    Once all foreign owners are added, any owner can access and update the registered asset details.

    Tenants in common

    If the asset is owned with others and assigned specific ownership, each individual foreign person must register the asset with their percentage of ownership.

    When to register

    A foreign person or their authorised representative must register any interest, other than an equitable interest acquired in commercial land that occurred on or after 1 July 2023, within 30 days of either:

    • purchasing commercial land (settlement)
    • becoming a foreign person while holding an interest in commercial land
    • becoming aware they have an interest in commercial land, which has changed in nature from another type of Australian land.

    Exemptions may apply, see Guidance Note 15External Link.

    Settlement is when you can occupy the property if there is a building on it or you can commence building on vacant land.

    How to register your investment in Australian commercial land

    To register, log in to Online services for foreign investors and select Register asset.

    For more information on registering and for joint tenants to add themselves to the asset, see How to register or manage an asset for foreign investors.

    If you own multiple properties, each property must be registered separately.

    Log in to Online services for foreign investors

    If your situation changes

    You’ll need to update your details in Online services for foreign investorsExternal Link if:

    • you are no longer a foreign person, see Guidance Note 2 at foreigninvestment.gov.auExternal Link
    • your contact details change
    • you no longer hold commercial land
    • other Australian land that you hold becomes commercial land
    • the land ceases to be commercial while you are holding it
    • you become a foreign person while holding commercial land
    • details of the registration change, such as partial divestment, title, or use of land.

    If your:

    Penalties and reporting breaches

    If you do not comply with your obligations to give a register notice or keep your details up to date, you may face an infringement notice or civil penalties.

    As a foreign investor, you should know your obligationsExternal Link and comply with Australia’s foreign investment rules. Together with Treasury, we take compliance actionExternal Link if a foreign investor breaches the foreign investment rules.

    If you have information about someone you think may be deliberately breaking our foreign investment rules, you can confidentially report a breach to us.

    If you are having difficulties meeting your obligations, contact us.

    Statistics and reporting

    The Registrar provides a report to the Treasurer about the operation of the Register. They publish aggregate statistics of foreign ownership.

    The reported statistics may include:

    • number of acquisitions and divestments
    • value of foreign held commercial land
    • land use of foreign held commercial land
    • value of foreign held commercial and by country of ownership.

    Only aggregated statistics are included in the report. Privacy restrictions prevent publishing information which may identify an individual or entity.

    You can view the latest report on the Foreign InvestmentExternal Link website.

    MIL OSI News –

  • MIL-OSI Australia: New requirements for Child Care Subsidy providers from 1 April

    Source: Australian Department of Revenue

    All new Child Care Subsidy (CCS) provider approval applicants will need to supply a statement of tax record (STR) to the Australian Government Department of EducationExternal Link. Some existing providers may also be asked to provide an STR. The Department of Education will notify those existing providers who will require an STR.

    The STR demonstrates your satisfactory engagement with the tax system and is required when applying to administer CCS.

    To apply for an STR, use our online services. After you submit your application, you’ll get a receipt and your STR within 4 business days.

    Important tips:

    1. Check your registration: Make sure you have an Australian business number (ABN), tax file number (TFN) and goods and service tax (GST) registration if your income is above the relevant limits.
    2. Review your tax lodgements: Ensure you’ve submitted at least 90% of your income tax returns, business activity statements (BAS), and fringe benefits tax (FBT) due in the past 4 years (or since your tax record started, if less than 4 years).
    3. Address outstanding debts: If you owe $10,000 or more (not including disputed debts), either pay them off or set up a payment plan.

    Taking these steps will help you resolve any tax issues with us before applying for your STR.

    Keep up to date

    We have tailored communication channels for medium, large and multinational businesses, to keep you up to date with updates and changes you need to know.

    Read more articles in our online Business bulletins newsroom.

    Subscribe to our free:

    • fortnightly Business bulletins email newsletterExternal Link
    • email notifications about new and updated information on our website – you can choose to receive updates relevant to your situation. Choose the ‘Business and organisations’ category to ensure your subscription includes notifications for more Business bulletins newsroom articles like this one.

    MIL OSI News –

  • MIL-Evening Report: Gains for Labor as they lead in three of last five polls

    Source: The Conversation (Au and NZ) – By Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne

    A national Freshwater poll for The Financial Review, conducted March 13–15 from a sample of 1,051, gave the Coalition a 51–49 lead by respondent preferences, a one-point gain for Labor since the late February Freshwater poll.

    Primary votes were 39% Coalition (down two), 31% Labor (steady), 14% Greens (up one) and 16% for all Others (up one). By 2022 election preference flows, this would be about a 50–50 tie.

    Anthony Albanese’s net approval improved one point to -10, while Peter Dutton’s slid four points to -12. In the last two months, Albanese is up eight and Dutton down eight. It’s the first time since May 2024 that Albanese has had a better net approval than Dutton in this poll.

    Albanese led Dutton by 45.9–42.5 as preferred PM, his best lead in this poll since last September. By 42–40, respondents thought Dutton better suited to negotiate with US President Donald Trump than Albanese (47–36 in November).

    The Coalition leads on important issues, but Labor has gained seven points on economic management and three points on cost of living since February.

    There has been improvement for Labor across a range of polls in the last few weeks, and the graph below has Labor leads in three of the last five national polls (two YouGovs and a Morgan), with the Coalition still ahead in Newspoll and Freshwater.

    In analyst Kevin Bonham’s aggregate, Labor now leads by 50.5–49.5 using 2022 election flows, while it’s a 50–50 tie adjusting for a likely pro-Coalition shift in One Nation preferences.

    Last Wednesday Trump imposed 25% tariffs on steel and aluminium imports into the US, including on Australia. I believe this will assist Labor as the tariff imposition will appear unjustified to most Australians, and the Coalition is the more pro-Trump party. If the stock market continues to fall, this will undermine support for Trump’s economic agenda.

    Trump has been threatening Canada with tariffs for much longer than Australia, and the centre-left governing Liberals have surged back in the polls to a near-tie with the Conservatives from over 20 points behind, and have taken the lead since Mark Carney’s March 9 election as Liberal leader.

    Labor retains lead in YouGov

    A national YouGov poll, conducted March 7–13 from a sample of 1,526, gave Labor a 51–49 lead, unchanged from the February 28 to March 6 YouGov poll. YouGov is conducting weekly polls, and the previous poll was the first Labor lead in YouGov since July 2024.

    Primary votes were 36% Coalition (steady), 31% Labor (steady), 13.5% Greens (up 0.5), 7.5% One Nation (up 0.5), 1% Trumpet of Patriots (steady), 9% independents (down one) and 2% others (steady). YouGov is using weaker preference flows for Labor than occurred in 2022, and by 2022 flows Labor would have a lead above 52–48.

    Albanese’s net approval improved three points to -6, with 49% dissatisfied and 43% satisfied, while Dutton’s net approval slid two points to -6. Albanese led Dutton as better PM by an unchanged 45–39.

    Since the first weekly YouGov poll in late February, Albanese has gained six points on net approval while Dutton has slid four points. This is the first time Dutton has not had a better net approval than Albanese in YouGov since March 2024.

    On the ongoing conflict caused by Russia’s invasion of Ukraine, 69% of Australians thought we should stand with Ukraine President Zelensky, while 31% wanted us to stand with Trump.

    Labor regains lead in Morgan poll

    A national Morgan poll, conducted March 3–9 from a sample of 1,719, gave Labor a 51.5–48.5 lead by headline respondent preferences, a two-point gain for Labor since the February 24 to March 2 poll. This is Labor’s second lead in the last three Morgan polls, after they had trailed in this poll since November.

    Primary votes were 37% Coalition (down three), 30% Labor (up 1.5), 13.5% Greens (steady), 5% One Nation (up one), 10.5% independents (steady) and 4% others (up 0.5). By 2022 election flows, Labor led by 52–48, a two-point gain for Labor.

    By 51.5–33, respondents said the country was going in the wrong direction (52–31.5 previously). Morgan’s consumer confidence index was down 0.8 points to 86.9.

    Poll of teal-held seats has the teals struggling

    Freshwater took a poll for the News Corporation tabloids of six seats held by teal independents. These are Curtin in WA, Goldstein and Kooyong in Victoria and Mackellar, Warringah and Wentworth in NSW. The poll was conducted March 5–7 from an overall sample of 830.

    Across the six seats polled, the Liberals had a 51–49 lead, representing a 5% swing to the Liberals since the 2022 election. On these figures, the Liberals would gain four of these teal seats (Curtin, Goldstein, Kooyong and Mackellar).

    Primary votes were 41% Liberals (up two since 2022), 33% teals (steady), 7% Labor (down six), 7% Greens (down two) and 12% others (up six). Albanese and Dutton were tied at 39–39 on better PM. By 47–42, respondents opposed their local MP backing an Albanese Labor minority government.

    The YouGov MRP poll that was conducted between late January and mid-February from a sample of over 40,000 had all the teals holding their seats. At the March 8 Western Australian election, swings to the Liberals were lowest in affluent Perth seats.

    WA election late counting

    With 70% of enrolled voters counted for the WA election, the ABC is calling 43 of the 59 lower house seats for Labor, six for the Liberals, four for the Nationals and six seats remain undecided. The Poll Bludger has Labor ahead in 47 seats, with the Liberals and Nationals ahead in six seats each.

    On election night, it had appeared likely that an independent would win Labor-held Fremantle. However, the independent has performed badly on absent and postal votes, and Labor will retain.

    In the upper house, all 37 seats are elected by statewide proportional representation with preferences, and a quota for election is just 2.63%. With 63% of enrolled counted, Labor has 15.8 quotas, the Liberals 10.5, the Greens 4.1, the Nationals 2.1, One Nation 1.35, Legalise Cannabis and the Australian Christians 1.0 each, an independent group 0.48 and Animal Justice 0.43.

    On current figures, Labor will win 16 seats, the Liberals ten, the Greens four, the Nationals two, One Nation, Legalise Cannabis and the Christians one each and two seats are unclear (Liberals, independent group and Animal Justice contesting). Counting of absents in the lower house has hurt the Liberals, so their vote is likely to drop further. Labor and the Greens will have a combined upper house majority.

    Liberals hold Port Macquarie at NSW byelection

    A byelection occurred on Saturday in the New South Wales Liberal-held state seat of Port Macquarie. Labor did not contest after finishing third behind the Nationals and Liberals at the 2023 NSW election with 19.2%.

    With 59% of enrolled counted, The Poll Bludger is projecting that the Liberals will defeat the Nationals by 52.8–47.2, a 7.9% swing to the Nationals since 2023. Current primary votes are 34.2% Liberals (down 4.1%), 31.2% Nationals (up 5.5%), 12.8% for an independent (new), 10.7% Greens (up 3.7%) and 7.9% Legalise Cannabis (up 3.4%).

    Adrian Beaumont does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Gains for Labor as they lead in three of last five polls – https://theconversation.com/gains-for-labor-as-they-lead-in-three-of-last-five-polls-252016

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI New Zealand: MIL-OSI News

    Greenpeace Statement: The deep sea mining industry is crumbling and desperate

    Source: Greenpeace
    The 30th Session of the International Seabed Authority, which starts today in Kingston, Jamaica, is the first under the new Secretary-General Leticia Carvalho, a scientist whose appointment brings an opportunity to reset the ISA’s focus away from prioritising deep sea mining industry interests and towards its mandate of protecting the seabed for all.[1][2]
    In stark contrast with Carvalho’s science-driven approach, delegates are being forced to address The Metals Company’s (TMC) threat to submit the world’s first ever deep sea mining application for the international seabed in June without any rules and regulations in place.[3] TMC are seeking regulatory certainty from governments at this meeting, calling on governments to deliver a pathway to greenlight the start of deep sea mining despite growing headwinds.
    Greenpeace International campaigner Louisa Casson, who is attending the meeting, said: “The deep sea mining industry is crumbling and resorting to increasingly desperate tactics as they lose support from governments and investors. The last weeks have repeatedly shown that companies are failing to live up to their hype and downsizing plans before they’ve even started. There’s never been a better time for governments to take decisive action to protect the ocean from this faltering, risky industry.”
    Earlier this year, in a further sign of a faltering industry, TMC gave up one third of their exploration areas in the north-eastern Pacific Ocean. [5]
    Alongside the threat of the first-ever commercial mining application, deep sea mining contractors have sent a joint letter to the ISA Council complaining they have spent US$2 billion, yet governments have not finalised the Mining Code. Indigenous representatives attending the ISA challenged the letter.
    Louisa Casson added: “Deep sea mining companies seem to be confused about the role of the ISA. Governments are not gathered here to protect corporate interests but to co-operate on how to preserve the ocean for future generations. The only way to responsibly respond to these dangerous threats is by putting a moratorium in place.”
    Greenpeace Aotearoa seabed mining campaigner Juressa Lee says: “Wannabe miners like Trans-Tasman Resources also want to plunder the ocean here in Aotearoa, encouraged by the Luxon government’s reckless fast-track process. The threat of seabed mining in Aotearoa is imminent and seabed miners around the world are watching closely what happens here. If TTR is given the go-ahead, it will encourage wannabe miners like TMC to push their application to start deep sea mining in the Pacific.”
    Thirty-two governments have voiced opposition to the start of deep sea mining, calling for a moratorium at the International Seabed Authority in 2025.
    [1] Leticia Carvalho’s inaugural statement: “We will embark on a new era defined by collaboration, equity, inclusiveness, transparency, accountability, effectiveness and sustainability-values that will guide our collective efforts to ensure ISA remains a trusted steward of the ocean […] Together, we must ensure that the ISA embodies the spirit of multilateral cooperation, serving as a model for transparent, inclusive and science-driven governance.”
    [5] The company’s financial filings show that the company’s subsidiary DeepGreen Engineering Pte Ltd has ended its services agreement with Kiribati-sponsored Marawa, which gave TMC exclusive exploration rights to an area covering 74,990 square kilometres in the Clarion Clipperton Zone, the area of international seabed targeted for deep sea mining. https://www.sec.gov/Archives/edgar/data/1798562/000110465924119467/tmc-20240930x10q.htm

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Universities – Fiordland’s marine habitats surveyed to develop first complete picture of biodiversity – Vic

    Source: Te Herenga Waka—Victoria University of Wellington

     

    Scientists have long known Fiordland’s marine habitats are home to a diverse range of species, from bright orange cup corals to huge black corals. A project to survey and catalogue these habitats is now underway to help support evidence-based management of this unique environment. 

     

    Researchers from Te Herenga Waka—Victoria University of Wellington have been working with Environment Southland to develop the first comprehensive classification of the different habitats in the Fiordland (Te Moana o Atawhenua) Marine Area. This area includes 14 fiords and 10 marine reserves.

     

    “The aim of this project is to describe the distribution of different marine communities throughout Fiordland so, in the future, we can precisely map where they occur,” said Professor James Bell, a marine biologist at Te Herenga Waka.

     

    The research team has already spent several weeks diving on rocky reefs and soft sediments on the seafloor in Fiordland’s Te Puaitaha—Breaksea and Tamatea—Dusky Sounds to collect data on the marine communities that live in these areas.

     

    “Many locations we surveyed had a high diversity of species, while others had very different and very low diversity. At one site near Entry Island in Te Puaitaha—Breaksea, we found diverse communities of ascidians, bryozoans, and sponges living on rocky reefs. In contrast, neighbouring soft sediment areas of the seafloor had comparatively few species. It’s important to capture these extremes,” said Professor Bell.

     

    The researchers dived to depths of about 30 metres, taking high resolution videos in Breaksea and Dusky Sounds. Analysis of this footage was used to classify the different communities found.

     

    “Understanding which species are present is important, but we also need to know where they’re located. This project will eventually enable comprehensive maps of the different habitats across Fiordland and the wider Southland coast. This information can then be used to support management decisions.”

     

    Professor Bell said further research was being undertaken to collect data from more locations in Breaksea and Dusky Sounds, and from deeper areas in the fiords.

     

    “Eventually, we hope to have a complete picture of the different habitats in the entire Fiordland (Te Moana o Atawhenua) Marine Area.”

     

    The research was funded by Environment Southland.  

     

    Ash Rabel, Environment Southland’s team leader—aquatic ecosystems, said cataloguing the communities and their composition in this way provides a strong foundation for future scientific endeavour and supports evidence-based management of these ecosystems.

     

    “By undertaking this work with Te Herenga Waka—Victoria University of Wellington, we’re able to tap into world-class expertise and knowledge the team holds of the underwater realm,” he said.

     

    Reports resulting from the research are available on Environment Southland’s website. The research is part of wider work to understand Fiordland’s ocean floor ecosystems as well as the rest of Murihiku Southland’s coastal marine area.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Banks and Security – ASB launches Caller Check to combat scammers

    Source: ASB

    ASB has launched Caller Check, its latest innovation in its fight against scammers to help protect customers from impersonation scams.

    Research by the Global Anti-Scam Alliance last year found half of New Zealanders had experienced a rise in scam encounters over the past 12 months, and more than 40% received these by phone call. [1] Impersonation scammers will often claim to work for a bank or another key service provider and trick victims into providing personal information or access to bank accounts.

    Caller Check allows ASB customers to confirm they’re speaking with an actual ASB employee when they receive a call from the bank by sending a push notification in the ASB Mobile Banking app.

    ASB’s General Manager Fraud and Scams Brodie Macdonald says Caller Check is another critical tool in the bank’s toolbox to help keep customers safe.

    “We know people are often busy, distracted or multi-tasking when they’re receiving calls, and want to give our customers the confidence they’re speaking to the right person.”

    “We are working harder than ever to keep scammers and fraudsters at bay, alongside Government, telcos and the banking industry. In 2024, we extended our 0800 FRAUD hotline to operate 24/7, and worked with the banking industry to launch Confirmation of Payee as an added check for customers when making online payments.”

    Customers interested in downloading ASB’s Mobile Banking app can head to our website to learn more here: Caller Check – Security notifications for ASB Bank calls | ASB

    [1] The State of Scams in New Zealand 2024 conducted by the Global Anti-Scam Alliance (www.gasa.org) in partnership with Netsafe. 1,071 respondents.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Research – Gender parity clarity: New Zealand’s deepest dive into KiwiSaver balances reveals crucial demographic insights

    Source: Te Ara Ahunga Ora Retirement Commission

    Results from the largest analysis of KiwiSaver, encompassing more than 3.2 million members, reveal no progress has been made on closing the gender retirement savings gap.  
    With shades of the recent estimate by the World Economic Forum that at the existing rate of progress, full gender parity won’t be achieved until the year 2158, the report released today by Te Ara Ahunga Ora Retirement Commission shows the average gender KiwiSaver retirement savings gap remains at 25%. It also delivers essential insights into KiwiSaver balances, trends and opportunities. 
    The Retirement Commission secured the services of Melville Jessup Weaver (MJW) actuaries to obtain the country’s most comprehensive current age and gender-related KiwiSaver stats. The results update an annual analysis that began in 2021 – then the first study of its kind, collecting previously unknown data about balances across these demographics. The new report provides a snapshot as at 31 December 2024 that – importantly – represents approximately 97% of Aotearoa’s KiwiSaver members.   
     
    In a country in which more women (51%) than men are members of KiwiSaver, the research shows that despite efforts towards its reduction, the average gender KiwiSaver retirement savings gap has remained static at 25% since 2022 – and, in fact, has increased slightly for those aged 61-65. The gap generally increases across the age groups, rising above 25% after the age of 35 and peaking at around 37% for those aged 56-65. This translates into women having on average around $20,000 less in their KiwiSaver account than men as they approach retirement age.  
     
    Of particular interest is where the gap is widest: between women and men in their 40s, 50s and 60s.  
    “This pivotal information shows the combined long-term effect of factors such as the gender pay gap, time out of paid work, and the higher percentage of women than men who work part-time,” says Te Ara Ahunga Ora Policy Lead Dr Michelle Reyers.  
    “It tells us that at an age when many women may be returning to the full-time paid workforce after years of unpaid caregiving and necessary part-time work, the effect comes more starkly into focus. 
    “Also of significant interest is that as at 30 June 2024, the gender pay gap is 8.2% and trending downwards, yet we’re not seeing that decrease reflected in the average gender KiwiSaver retirement savings gap. The impact of compounding interest on balances informs some of this, as money invested earlier has time to grow, but if women’s balances are lower than men’s in younger life, they will likely remain lower.”
      
    Also notable among the new demographic data is that women continue to have lower average balances than men across all groups, with the exception of those aged over 80. In almost all age groups, women are overrepresented among those with low balances and men are overrepresented among those with the highest balances. 
    Retirement Commissioner Jane Wrightson says: “Thanks to the gender pay gap and other factors, women tend to earn less, which leads to saving less. Women tend to spend longer periods in unpaid work, and get hit harder by life shocks like unemployment and divorce.  
    “This unchanged KiwiSaver retirement savings gap is one of several reasons why we’re advocating to get New Zealanders contributing more to KiwiSaver across the board. We’re arguing for system change, and one opportunity we’ve identified is to increase the default contribution rate of all individuals to at least 4%, with employers matching it at this level or contributing more. 
    “KiwiSaver has been instrumental in promoting retirement savings in New Zealand, but it’s not working as well as it could for everyone. Changes made to the settings now will improve outcomes for all who contribute, and since women live longer on average than men and therefore have longer retirement periods to fund, for this demographic, a rethink is especially critical.” 
    The Retirement Commissioner welcomes the recent changes made by the Government to paid parental leave by making matching contributions for those who continue to make their employee contribution, and would encourage that this be extended to all those on paid parental leave, not just those who can continue to make their own contributions.  
    Key insights

    • According to a survey of approximately 97% of Aotearoa’s KiwiSaver members (3,286, 614 people), the average KiwiSaver gender retirement savings gap remains 25%, as at 31 December 2024. 
    • It has increased marginally for those aged 61-65 (from 35 to 36%). 
    • The average KiwiSaver balance is $37,079, an increase of 16.5% from 2023 that likely reflects the strong performance of financial markets over the 2024 year. 
    • Women’s average balance is $34,185 (an increase of 16.7%); men’s average balance is $42,664 (an increase of 16.6%). 
    • The widest gaps are between women and men in their 40s and 50s, and those approaching age 65.  
    • On average, men in their 40s have about $12,000 (or 30%) more invested in KiwiSaver than women; men in their 50s have about $20,000 (or 36%) more; and men aged 61-65 have approximately $21,500 (or 36%) more. 
    • Although there’s still a relatively large number of members with KiwiSaver balances below $10,000, this has trended downwards, declining from 41% of members in 2021 to about a third of members in 2024. 
    • There are more women than men with balances lower than $10,000 across almost all age brackets. 
    • 61% of the people with balances below $10,000 are aged 35 and younger. 
    • 17% of members aged 51 to 65 have less than $10,000 in KiwiSaver (note that these members have not had access to KiwiSaver for their full working lives). 
    • 12% of KiwiSaver members have a balance over $80,000. There are fewer women than men with balances above $80,000 across almost all age brackets. 
    • Only 22% of women aged 51-65 have balances greater than $80,000, whereas 32% of men in this age group have balances greater than $80,000.
    Policy Brief here:

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: New Business – Soda’s New Online Platform a Game-Changer for Entrepreneurs and Small Business Owners

    Source: Soda

    Kiwi entrepreneurs now have an easier way to turn their business ideas into reality. Soda has launched an online business platform, packed with short business courses that give aspiring entrepreneurs and small business owners the framework to create business success.
    There are six courses which, as a complete set, provide the necessary tools and frameworks to guide aspiring entrepreneurs and new business owners through all the steps of being a business owner.
    Each course is around two hours long and includes real-world insights from successful founders, downloadable checklists, templates, and actionable strategies.
    The six primary Business Fundamentals courses include: Your Business Vision & Goals, Market Validation & Customer Fit, Crafting Your Brand & Competitive Edge, Money Matters, Marketing & Sales, and Legal, Compliance & Future Planning. These are complemented by a Beginners Marketing Toolkit and a free Business Setup Checklist.
    Soda Innovation Specialist, Dr Fern Kelly-Zander has led the platform development and says: “Having worked in innovation and startup environments abroad – and having also launched a business while on maternity leave – I know firsthand how overwhelming starting a business can be. I always wished for a practical, easy-to-access platform like this. Business Fundamentals Online is a supportive learning experience with real-world insights, actionable tools and peer discussion to help entrepreneurs and small business owners succeed.”
    Soda General Manager Anna Devcich adds: “Soda has been supporting entrepreneurs and small business owners for 16 years, during which time we’ve received constant requests for resources to support the establishment of new businesses. In 2023 we created an in-person Business Fundamentals programme which has run successfully in Taranaki and the Waikato, so the next natural step was to create an online version.
    “Our online Business Fundamentals programme enables entrepreneurs and business owners to access everything they need to start a business, all in one easy place. It gives people the ability to learn the fundamentals of being a business owner anywhere, anytime and at a very reasonable price.”
    The courses are targeted at entrepreneurs who wish to start their own business and small business owners who may need to refine and review their strategies.
    Small business owner, Rae MacDonald, has completed all six Business Fundamental courses and says: “Business Fundamentals is jam-packed with critical actions for building a successful business. It is a tiny investment, for a big return. The Sales & Marketing module was a game-changer! I feel empowered and confident to take my business to the next level.”
    Prices start at just $49 per course or $245 for all six courses.
    Background
    Soda helps businesses achieve their goals and create success. We connect entrepreneurs, business owners and key decision makers with the right people, tools, resources and programmes to accelerate business growth. Based in Hamilton, Soda is the Waikato’s Regional Business Partner (RBP), connecting business owners with government funding and support. Soda also provides free one-to-one coaching sessions for startups through Startup Aotearoa.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Public’s help sought after serious Miramar incidents

    Source: New Zealand Police (National News)

    Attribute to Detective Senior Sergeant Tim Leitch:

    Police are seeking the public’s help following two serious incidents in Miramar overnight.

    At 2am, Police were called to a Darlington Road address, where the occupants found an intruder inside their home. One occupant received minor injuries following an altercation with the suspect, who fled before Police arrived. Three other occupants at the address were unharmed.

    A police dog unit tracked the intruder north of the bus turnaround for several hundred metres until the trail was lost.

    About 2.30am, Police on patrol found a person unconscious and critically injured near the intersection of Camperdown Road and Totara Road. The victim was taken to hospital, where he remains in a critical condition.  

    We are making a number of enquiries into both of these incidents and are working to determine whether they are linked. There will be a visible Police presence in the area while we carry out this work and speak with residents.

    We would like to hear from anyone with information that may help our enquiries. 

    It is possible the intruder has gone to other addresses in the immediate area. Police are asking that residents on upper Darlington Road (north of Camperdown Road), and residents near the intersection of Camperdown Road and Totara Road to report any unusual or suspicious activity overnight.

    We are also asking residents to check their sections and yards for any items that may have been stolen or discarded by the offender, described as a tall man of thin, athletic build, wearing a white cap.

    Also of interest, is any CCTV that may assist the investigation.

    If you can help, please make a report via 105, referencing the case number 250317/6324.

    ENDS

    Issued by the Police Media Centre

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Strengthening education ties across the Pacific

    Source: New Zealand Government

    Universities Minister Dr Shane Reti will travel to Port Moresby this week to attend the Conference of Pacific Education Ministers alongside representatives from Pacific nations and Australia, to collaborate on shared education priorities. 

    The theme of the conference, Transforming Edukesen for a Better Pacific, reflects the need for the region to adapt and embrace innovative approaches in response to global educational changes. 

    This transformation aims to enhance growth and create a more effective, equitable and sustainable education system. It will impact everything from individual classrooms to national education frameworks.

    “The Pacific is critically important to New Zealand given our shared social, language, cultural, and historical links,” says Dr Reti. 

    “This conference is an opportunity to reaffirm New Zealand’s commitment as a Pacific nation to working together in addressing shared education challenges.

    “This engagement is of particular significance to New Zealand, given we are celebrating 50 years of independence and diplomatic relations with Papua New Guinea.

    “New Zealand enjoys a positive and longstanding relationship with the Pacific education community. Our investments across the region support the educational aspirations of our Pacific whanau. 

    “I am therefore pleased to announce New Zealand’s investment of $1.5 million over three years from our International Development Cooperation programme in the UNESCO Global Education Monitoring Report. 

    “This investment will support education leaders, Ministers, officials, teachers, and communities to better understand global challenges in education and use this information to bolster local education policy and planning, including in New Zealand,” Dr Reti says.

    While in Papua New Guinea, Dr Reti will meet with education counterparts and experts from across the region to further strengthen relationships and collaborate on shared educational goals. He will also provide a statement on the recent Second Pacific Education Development Partners Coordination Meeting hosted in Wellington. 

    Dr Reti will host an event with recipients and alumni of the Manaaki New Zealand Scholarships Programme, which provides a range of tertiary and short-term scholarships across the Pacific.

    Dr Reti departs New Zealand on Tuesday 18 March and returns on Thursday 20 March 2025. 

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Labor delivering a stronger and fairer NDIS

    Source: Ministers for Social Services

    The Albanese Labor Government’s significant reforms and investment have put the National Disability Insurance Scheme (NDIS) back on track.

    Minister for Social Services and the NDIS, Amanda Rishworth, said the Government is making changes to ensure every dollar allocated to NDIS participants reaches them and is spent in a meaningful way that makes a difference in their lives.

    “The Albanese Labor Government is absolutely committed to improving the lives of the more than 700,000 NDIS participants, ensuring people with disability can live independently and participate fully in the community,” Minister Rishworth said.

    “We’re reforming the NDIS to deliver better outcomes for people with disability and to be more responsive to individual needs, as well as enabling more consistent, fair and transparent decision making so that it continues to provide the reasonable and necessary supports that people need.”

    The latest NDIS monthly data for the end of February shows the scheme is tracking at approximately $700 million lower than initially forecast this financial year.

    This puts the year-on-year growth rate at around 10 per cent, down from the 12 per cent growth forecast for this financial year – significantly down from 22 per cent in the 2021-22 financial year under the Liberal Party.

    These results show scheme costs are stabilising and remain on track to reach National Cabinet’s eight per cent growth target by 1 July 2026.

    Significant work to provide more clarity around what can be included in plans, and stopping fraud and exploitation of participants, has helped stabilise growth.

    “A sustainable NDIS provides certainty for the Australian community and those who rely on it now and in the future,” Minister Rishworth said.

    “The NDIS has broad support and is an integral part of our social infrastructure. While we are delivering a sustainable NDIS that can endure for generations, solely focusing on the finances fails to celebrate the scheme for what it is – a world leading social initiative.”

    Minister Rishworth said the reduction in scheme growth was not coming at the expense of Australians living with disability.

    “This reduction in growth is a direct result of our Government, along with the National Disability Insurance Agency, working with participants and the broader disability community to build a better NDIS,” Minister Rishworth said.

    “We have had a strong focus on providing greater clarity on what NDIS funding can and cannot be spent on, on preventing fraud, and on improving planning to make it more consistent, transparent and fairer.

    “We know there is more to be done, but these reforms are bringing us closer to the original intent of the scheme – to provide genuine choice and control, and provide reasonable and necessary supports, to people with a permanent and significant disability so they can participate in everyday activities.

    “It is essential people with disability continue to have a voice in how any changes are implemented. We will continue to use co-design to amplify the voices of people with disability so that we get these improvements right.”

    The latest data including monthly reports can be seen on the NDIS website.

    MIL OSI News –

  • MIL-OSI: Qifu Technology Announces Fourth Quarter and Full Year 2024 Unaudited Financial Results and Raises Semi-Annual Dividend

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, March 16, 2025 (GLOBE NEWSWIRE) — Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a leading AI-empowered Credit-Tech platform in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2024 and raised semi-annual dividend.

    Fourth Quarter 2024 Business Highlights

    • As of December 31, 2024, our platform has connected 162 financial institutional partners and 261.2 million consumers*1 with potential credit needs, cumulatively, an increase of 11.0% from 235.4 million a year ago.
    • Cumulative users with approved credit lines*2 were 56.9 million as of December 31, 2024, an increase of 11.8% from 50.9 million as of December 31, 2023.
    • Cumulative borrowers with successful drawdown, including repeat borrowers was 34.4 million as of December 31, 2024, an increase of 13.1% from 30.4 million as of December 31, 2023.
    • In the fourth quarter of 2024, financial institutional partners originated 24,814,923 loans*3 through our platform.
    • Total facilitation and origination loan volume*4 reached RMB89,885 million, an increase of 0.4% from RMB89,561 million in the same period of 2023 and an increase of 9.0% from RMB82,436 million in the prior quarter. RMB47,796 million of such loan volume was under capital-light model, Intelligence Credit Engine (“ICE”) and total technology solutions*5, representing 53.2% of the total, an increase of 23.2% from RMB38,798 million in the same period of 2023 and an increase of 5.3% from RMB45,396 million in the prior quarter.
    • Total outstanding loan balance*6 was RMB137,014 million as of December 31, 2024, a decrease of 5.7% from RMB145,270 million as of December 31, 2023 and an increase of 7.3% from RMB127,727 million as of September 30, 2024. RMB79,599 million of such loan balance was under capital-light model, “ICE” and total technology solutions, an increase of 8.6% from RMB73,268 million as of December 31, 2023 and an increase of 7.5% from RMB74,078 million as of September 30, 2024.
    • The weighted average contractual tenor of loans originated by financial institutions across our platform in the fourth quarter of 2024 was approximately 10.00 months, compared with 11.47 months in the same period of 2023.
    • 90 day+ delinquency rate*7 of loans originated by financial institutions across our platform was 2.09% as of December 31, 2024.
    • Repeat borrower contribution*8 of loans originated by financial institutions across our platform for the fourth quarter of 2024 was 93.9%.

    1 Refers to cumulative registered users across our platform.
    2 “Cumulative users with approved credit lines” refers to the total number of users who had submitted their credit applications and were approved with a credit line at the end of each period.
    3 Including 2,799,208 loans across “V-pocket”, and 22,015,715 loans across other products.
    4 Refers to the total principal amount of loans facilitated and originated during the given period. Retrospectively excluding the impact of discontinued service, which did not have and is not expected to have a material impact on our overall business, financial condition, and results of operations.
    5 “ICE” is an open platform primarily on our “Qifu Jietiao” APP (previously known as “360 Jietiao”), we match borrowers and financial institutions through big data and cloud computing technology on “ICE”, and provide pre-loan investigation report of borrowers. For loans facilitated through “ICE”, the Company does not bear principal risk.
    Under total technology solutions, we have been offering end-to-end technology solutions to financial institutions based on on-premise deployment, SaaS or hybrid model since 2023.
    6 “Total outstanding loan balance” refers to the total amount of principal outstanding for loans facilitated and originated at the end of each period, excluding loans delinquent for more than 180 days. Retrospectively excluding the impact of discontinued service, which did not have and is not expected to have a material impact on our overall business, financial condition, and results of operations.
    7 “90 day+ delinquency rate” refers to the outstanding principal balance of on- and off-balance sheet loans that were 91 to 180 calendar days past due as a percentage of the total outstanding principal balance of on- and off-balance sheet loans across our platform as of a specific date. Loans that are charged-off and loans under “ICE” and total technology solutions are not included in the delinquency rate calculation.
    8 “Repeat borrower contribution” for a given period refers to (i) the principal amount of loans borrowed during that period by borrowers who had historically made at least one successful drawdown, divided by (ii) the total loan facilitation and origination volume through our platform during that period.

    Fourth Quarter 2024 Financial Highlights

    • Total net revenue was RMB4,482.3 million (US$614.1 million), compared to RMB4,370.2 million in the prior quarter.
    • Net income was RMB1,912.7 million (US$262.0 million), compared to RMB1,798.8 million in the prior quarter.
    • Non-GAAP*9 net income was RMB1,972.4 million (US$270.2 million), compared to RMB1,825.1 million in the prior quarter.
    • Net income per fully diluted American depositary share (“ADS”) was RMB13.24 (US$1.82), compared to RMB12.18 in the prior quarter.
    • Non-GAAP net income per fully diluted ADS was RMB13.66 (US$1.87), compared to RMB12.35 in the prior quarter.

    9 Non-GAAP income from operations, Non-GAAP net income, Non-GAAP operating margin, Non-GAAP net income margin and Non-GAAP net income per fully diluted ADS are Non-GAAP financial measures. For more information on these Non-GAAP financial measures, please see the section of “Use of Non-GAAP Financial Measures Statement” and the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.

    Full Year 2024 Operational Highlights

    • Total loan facilitation and origination volume*4 in 2024 was RMB321,969 million, representing a decrease of 12.8% from RMB369,132 million in 2023. Loan facilitation volume*4 under Platform Services was RMB170,589 million, an increase of 3.8% from RMB164,321 million in 2023.
    • The weighted average contractual tenor of loans facilitated and originated was 10.05 months in full year 2024, compared with 11.21 months in 2023.
    • Repeat borrower contribution was 93.1% in full year 2024, compared with 91.6% in 2023.

    Full Year 2024 Financial Highlights

    • Total net revenue was RMB17,165.7 million (US$2,351.7 million), compared to RMB16,290.0 million in 2023.
    • Net income was RMB6,248.1 million (US$856.0 million), compared to RMB4,268.6 million in 2023.
    • Non-GAAP net income was RMB6,415.7 million (US$879.0 million), compared to RMB4,454.2 million in 2023.
    • Net income per fully diluted ADS was RMB41.28 (US$5.66), compared to RMB26.08 in 2023.
    • Non-GAAP net income per fully diluted ADS was RMB42.39 (US$5.81), compared to RMB27.22 in 2023.

    Mr. Haisheng Wu, Chief Executive Officer and Director of Qifu Technology, commented, “Although 2024 was a challenging year as macro-economic headwinds persisted, we have made timely adjustments to our operations throughout the year and focused our effort on improving the quality and sustainability of our business. With consistent execution, we closed the year with strong operational and financial results. Throughout 2024, we proactively expanded the scope of our platform services, which makes our business model more resilient and forms a solid foundation for high quality growth in 2025.

    Approximately 58% of the year-end loan balance was under the capital-light model, ICE and total technology solutions. The strong contribution from non-credit risk bearing services helped us mitigate some risks in a challenging environment and demonstrated the efficiency of our platform services. In 2024, we further diversified our user acquisition channels and in the fourth quarter, approximately 47% of our new credit line users were acquired through embedded finance channels. Meanwhile, we continued to solidify our relationships with financial institution partners. With record-setting ABS issuance, we further optimized our funding structure.

    While we started to see some tentative signs of improvement in user activities late in 2024, we will continue to take a prudent approach in our business planning in 2025. We will remain focused on quality growth and further empower our partners and users through our open platform. With the increasing maturity and efficiency of large language models, we expect to allocate more resources to the application of AI across the credit scenarios in the future. We believe such efforts will enable us to better navigate through the current environment and position us well to capture long-term opportunities through innovative technologies, enhanced products and collaborative models.”

    “We are pleased to report another quarter of solid financial results and close the year on a strong note in a still uncertain macro environment. For 2024, total revenue was RMB17.17 billion and Non-GAAP net income was RMB6.42 billion,” Mr. Alex Xu, Chief Financial Officer, commented. “Meanwhile, we generated a record-breaking RMB9.34 billion cash from operations in 2024. Our strong financial positions not only allow us to consistently execute our strategy and support business initiatives, but also enable us to further enhance returns to our shareholders by actively executing 2025 share repurchase plan and significantly raising semi-annual dividends.”

    Mr. Yan Zheng, Chief Risk Officer, added, “Despite facing macro uncertainties, we significantly reduced our overall portfolio risks through 2024 by decisively tightening risk standards early in the year. Overall risk performance reached the best level for the year in the fourth quarter. Among key leading indicators, Day-1 delinquency rate*10 was 4.8% in the fourth quarter, and 30-day collection rate*11 was 88.1%. We feel comfortable with current risk levels and expect to see relatively stable risk performance in the coming quarters as we seek growth opportunities in a changing environment in 2025.”

    10 “Day-1 delinquency rate” is defined as (i) the total amount of principal that became overdue as of a specified date, divided by (ii) the total amount of principal that was due for repayment as of such specified date.
    11 “30-day collection rate” is defined as (i) the amount of principal that was repaid in one month among the total amount of principal that became overdue as of a specified date, divided by (ii) the total amount of principal that became overdue as of such specified date.

    Fourth Quarter 2024 Financial Results

    Total net revenue was RMB4,482.3 million (US$614.1 million), compared to RMB4,495.5 million in the same period of 2023, and RMB4,370.2 million in the prior quarter.

    Net revenue from Credit Driven Services was RMB2,889.5 million (US$395.9 million), compared to RMB3,248.3 million in the same period of 2023, and RMB2,901.0 million in the prior quarter.

    Loan facilitation and servicing fees-capital heavy were RMB363.0 million (US$49.7 million), compared to RMB481.2 million in the same period of 2023 and RMB258.7 million in the prior quarter. The year-over-year and sequential changes were primarily due to the changes in capital-heavy loan facilitation volume.

    Financing income*12 was RMB1,667.3 million (US$228.4 million), compared to RMB1,485.4 million in the same period of 2023 and RMB1,744.1 million in the prior quarter. The year-over-year increase was primarily due to the growth in average outstanding balance of the on-balance-sheet loans.

    Revenue from releasing of guarantee liabilities was RMB761.8 million (US$104.4 million), compared to RMB1,211.8 million in the same period of 2023, and RMB794.6 million in the prior quarter. The year-over-year decrease was mainly due to the decrease in average outstanding balance of off-balance-sheet capital-heavy loans during the period.

    Other services fees were RMB97.4 million (US$13.3 million), compared to RMB69.8 million in the same period of 2023, and RMB103.7 million in the prior quarter. The year-over-year increase reflected the increase in late payment fees under the credit driven services due to improvement in collection rates of late paid loans.

    Net revenue from Platform Services was RMB1,592.8 million (US$218.2 million), compared to RMB1,247.2 million in the same period of 2023 and RMB1,469.1 million in the prior quarter.

    Loan facilitation and servicing fees-capital light were RMB515.1 million (US$70.6 million), compared to RMB697.0 million in the same period of 2023 and RMB574.6 million in the prior quarter. The year-over-year and sequential decreases were primarily due to the decreases in capital-light loan facilitation volume.

    Referral services fees were RMB907.2 million (US$124.3 million), compared to RMB446.5 million in the same period of 2023 and RMB763.1 million in the prior quarter. The year-over-year and sequential increases were mainly due to the increases in loan facilitation volume through ICE.

    Other services fees were RMB170.5 million (US$23.4 million), compared to RMB103.8 million in the same period of 2023 and RMB131.4 million in the prior quarter.

    Total operating costs and expenses were RMB2,591.9 million (US$355.1 million), compared to RMB3,215.9 million in the same period of 2023 and RMB2,081.0 million in the prior quarter.

    Facilitation, origination and servicing expenses were RMB734.7 million (US$100.6 million), compared to RMB731.8 million in the same period of 2023 and RMB707.9 million in the prior quarter.

    Funding costs were RMB126.8 million (US$17.4 million), compared to RMB161.0 million in the same period of 2023 and RMB146.8 million in the prior quarter. The year-over-year decrease was mainly due to the lower average costs of ABS and trusts. The sequential decrease was mainly due to the decline in funding from ABS and trusts and lower average costs.

    Sales and marketing expenses were RMB523.9 million (US$71.8 million), compared to RMB551.6 million in the same period of 2023 and RMB419.9 million in the prior quarter. The year-over-year decrease was primarily due to improved efficiency in acquiring new customers. The sequential increase was primarily due to a more proactive customer acquisition effort and seasonal factors.

    General and administrative expenses were RMB156.1 million (US$21.4 million), compared to RMB108.0 million in the same period of 2023 and RMB92.0 million in the prior quarter.

    Provision for loans receivable was RMB598.4 million (US$82.0 million), compared to RMB639.9 million in the same period of 2023 and RMB477.5 million in the prior quarter. The year-over-year and sequential changes reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile and changes in loan origination volume of on-balance-sheet loans.

    Provision for financial assets receivable was RMB63.3 million (US$8.7 million), compared to RMB148.2 million in the same period of 2023 and RMB64.4 million in the prior quarter. The year-over-year decrease was mainly due to the decline in capital-heavy loan facilitation volume and reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential decrease was mainly due to reversal of prior quarters’ provision in the quarter, offsetting by the increase in capital-heavy loan facilitation volume.

    Provision for accounts receivable and contract assets was RMB77.5 million (US$10.6 million), compared to RMB91.1 million in the same period of 2023 and RMB108.8 million in the prior quarter. The year-over-year and sequential decreases reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile.

    Provision for contingent liability was RMB311.4 million (US$42.7 million), compared to RMB784.3 million in the same period of 2023 and RMB63.6 million in the prior quarter. The year-over-year and sequential changes reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile as well as the changes in capital-heavy loan facilitation volume.

    Income from operations was RMB1,890.3 million (US$259.0 million), compared to RMB1,279.6 million in the same period of 2023 and RMB2,289.2 million in the prior quarter.

    Non-GAAP income from operations was RMB1,950.0 million (US$267.2 million), compared to RMB1,322.1 million in the same period of 2023 and RMB2,315.5 million in the prior quarter.

    Operating margin was 42.2%. Non-GAAP operating margin was 43.5%.

    Income before income tax expense was RMB1,932.7 million (US$264.8 million), compared to RMB1,330.9 million in the same period of 2023 and RMB2,356.9 million in the prior quarter.

    Income taxes expense was RMB20.0 million (US$2.7 million), compared to RMB 223.2 million in the same period of 2023 and RMB558.1 million in the prior quarter. The year-over-year and sequential changes were mainly due the writeback of withholding taxes related to the Company’s dividend and share repurchase plans, as the Company became eligible to a lower tax rate in the fourth quarter.

    Net income was RMB1,912.7 million (US$262.0 million), compared to RMB1,107.7 million in the same period of 2023 and RMB1,798.8 million in the prior quarter.

    Non-GAAP net income was RMB1,972.4 million (US$270.2 million), compared to RMB1,150.3 million in the same period of 2023 and RMB1,825.1 million in the prior quarter.

    Net income margin was 42.7%. Non-GAAP net income margin was 44.0%.

    Net income attributed to the Company was RMB1,916.6 million (US$262.6 million), compared to RMB1,111.7 million in the same period of 2023 and RMB1,802.9 million in the prior quarter.

    Non-GAAP net income attributed to the Company was RMB1,976.4 million (US$270.8 million), compared to RMB1,154.3 million in the same period of 2023 and RMB1,829.2 million in the prior quarter.

    Net income per fully diluted ADS was RMB13.24 (US$1.82).

    Non-GAAP net income per fully diluted ADS was RMB13.66 (US$1.87).

    Weighted average basic ADS used in calculating GAAP net income per ADS was 142.94 million.

    Weighted average diluted ADS used in calculating GAAP and non-GAAP net income per ADS was 144.71 million.

    12 “Financing income” is generated from loans facilitated through the Company’s platform funded by the consolidated trusts and Fuzhou Microcredit, which charge fees and interests from borrowers.

    Full Year 2024 Financial Results

    Total net revenue was RMB17,165.7 million (US$2,351.7 million), compared to RMB16,290.0 million in 2023.

    Net revenue from Credit Driven Services was RMB11,719.0 million (US$1,605.5 million), compared to RMB11,738.6 million in 2023.

    Loan facilitation and servicing fees-capital heavy were RMB1,016.5 million (US$139.3 million), compared to RMB1,667.1 million in 2023. The year-over-year decrease was primarily due to a decline in capital-heavy loan facilitation volume.

    Financing income was RMB6,636.5 million (US$909.2 million), compared to RMB5,109.9 million in 2023. The year-over-year increase was primarily due to the growth in average outstanding balance of on-balance-sheet loans.

    Revenue from releasing of guarantee liabilities was RMB3,695.0 million (US$506.2 million), compared to RMB4,745.9 million in 2023. The year-over-year decrease was mainly due to decrease in average outstanding balance of off-balance-sheet capital-heavy loans during the period.

    Other services fees were RMB371.0 million (US$50.8 million), compared to RMB215.6 million in 2023. The year-over-year increase was mainly due to an increase in late payment fees in connection with improvement in collection rate of late paid loans under the credit driven services.

    Net revenue from Platform Services was RMB5,446.6 million (US$746.2 million), compared to RMB4,551.5 million in 2023.

    Loan facilitation and servicing fees-capital light were RMB2,116.8 million (US$290.0 million), compared to RMB3,214.0 million in 2023. The year-over-year decrease was primarily due to a decline in loan facilitation volume under the capital-light model.

    Referral services fees were RMB2,842.6 million (US$389.4 million), compared to RMB950.0 million in 2023. The year-over-year increase was primarily due to an increase in the loan facilitation volume through ICE.

    Other services fees were RMB487.2 million (US$66.7 million), compared to RMB387.5 million in 2023.

    Total operating costs and expenses were RMB9,637.1 million (US$1,320.3 million), compared to RMB11,433.1 million in 2023.

    Facilitation, origination and servicing expenses were RMB2,900.7 million (US$397.4 million), compared to RMB2,659.9 million in 2023. The year-over-year increase was primarily due to higher collection fees.

    Funding costs were RMB590.9 million (US$81.0 million), compared to RMB645.4 million in 2023. The year-over-year decrease was mainly due to the lower average cost of ABS and trusts, partially offset by the growth in funding from ABS and trusts.

    Sales and marketing expenses were RMB1,725.9 million (US$236.4 million), compared to RMB1,939.9 million in 2023. The year-over-year decrease was mainly due to our prudent customer acquisition approach and lower unit customer acquisition cost.

    General and administrative expenses were RMB449.5 million (US$61.6 million), compared to RMB421.1 million in 2023.

    Provision for loans receivable was RMB2,773.3 million (US$379.9 million), compared to RMB2,151.0 million in 2023. The year-over-year increase was mainly due to the growth in loan origination volume of on-balance-sheet loans.

    Provision for financial assets receivable was RMB296.9 million (US$40.7 million), compared to RMB386.1 million in 2023. The year-over-year decrease was mainly due to a decline in capital-heavy loan facilitation volume.

    Provision for accounts receivable and contract assets was RMB421.5 million (US$57.7 million), compared to RMB175.8 million in 2023. The year-over-year increase reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile.

    Provision for contingent liability was RMB478.4 million (US$65.5 million), compared to RMB3,053.8 million in 2023. The year-over-year decrease was mainly due to a decline in capital-heavy loan facilitation volume and the reversal of prior provision as loans facilitated in previous period performed better than expected.

    Income from operations was RMB7,528.6 million (US$1,031.4 million), compared to RMB4,857.0 million in 2023.

    Non-GAAP income from operations was RMB7,696.2 million (US$1,054.4 million), compared to RMB5,042.6 million in 2023.

    Operating margin was 43.9%. Non-GAAP operating margin was 44.8%.

    Income before income tax expense was RMB7,892.4 million (US$1,081.3 million), compared to RMB5,277.5 million in 2023.

    Income taxes expense was RMB1,644.3 million (US$225.3 million). Effective tax rate was 20.4%, compared to 18.5% in 2023. The increase in effective tax rate was mainly due to withholding taxes related to the Company’s dividend and share repurchase plan.

    Net income attributed to the Company was RMB6,264.3 million (US$858.2 million), compared to RMB4,285.3 million in 2023.

    Non-GAAP net income attributed to the Company was RMB6,431.9 million (US$881.2 million), compared to RMB4,470.9 million in 2023.

    Net income margin was 36.4%. Non-GAAP net income margin was 37.4%.

    Net income per fully diluted ADS was RMB41.28 (US$5.66).

    Non-GAAP net income per fully diluted ADS was RMB42.39 (US$5.81).

    Weighted average basic ADS used in calculating GAAP net income per ADS was 149.01 million.

    Weighted average diluted ADS used in calculating GAAP and non-GAAP net income per ADS was 151.72 million.

    30 Day+ Delinquency Rate by Vintage and 180 Day+ Delinquency Rate by Vintage

    The following charts and tables display the historical cumulative 30 day+ delinquency rates by loan facilitation and origination vintage and 180 day+ delinquency rates by loan facilitation and origination vintage for all loans facilitated and originated through the Company’s platform. Loans under “ICE” and total technology solutions are not included in the 30 day+ charts and the 180 day+ charts:

    http://ml.globenewswire.com/Resource/Download/2a5d124f-5f90-4a71-a264-908b101a7e87

    http://ml.globenewswire.com/Resource/Download/95f56823-ce1f-4ade-baf5-cdc0bcf8526c

    Semi-Annual Dividend for the Second Half of 2024

    The board of directors of the Company (the “Board”) has approved a dividend of US$0.35 per Class A ordinary share, or US$0.70 per ADS for the second half of 2024 to holders of record of Class A ordinary shares and ADSs as of the close of business on April 23, 2025 Hong Kong Time and New York Time, respectively, in accordance with the Company’s dividend policy. For holder of Class A ordinary shares, in order to qualify for the dividend, all valid documents for the transfers of shares accompanied by the relevant share certificates must be lodged for registration with the Company’s Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Hong Kong no later than 4:30 p.m. on April 23, 2025 (Hong Kong Time). The payment date is expected to be on May 28, 2025 for holders of Class A ordinary shares and around June 2, 2025 for holders of ADSs.

    Update on Share Repurchase

    On March 12, 2024, the Board approved a share repurchase plan (the “2024 Share Repurchase Plan”) whereby the Company is authorized to repurchase its ADSs or Class A ordinary shares with an aggregate value of up to US$350 million during the 12-month period from April 1, 2024.

    In the fourth quarter, the Company had in aggregate purchased approximately 3.1 million ADSs in the open market for a total amount of approximately US$107 million (inclusive of commissions) at an average price of US$34.5 per ADS. As of December 30, 2024, the Company had utilized substantially all of the total authorized value for the 2024 Share Repurchase Plan.

    On November 19, 2024, the Board approved a new share repurchase plan (the “2025 Share Repurchase Plan”) whereby the Company is authorized to repurchase up to US$450 million worth of its ADSs or Class A ordinary shares over the next 12 months starting from January 1, 2025.

    As of March 14, 2025, the Company had in aggregate purchased approximately 2.2 million ADSs in the open market for a total amount of approximately US$86 million (inclusive of commissions) at an average price of US$39.7 per ADS pursuant to the 2025 Share Repurchase Plan.

    Business Outlook

    As macro-economic uncertainties persist, the Company intends to maintain a prudent approach in its business planning for 2025. Management will continue to focus on enhancing efficiency of the Company’s operations. As such, for the first quarter of 2025, the Company expects to generate a net income between RMB1.75 billion and RMB1.85 billion and a non-GAAP net income*13 between RMB1.80 billion and RMB1.90 billion, representing a year-on-year growth between 49% and 58%. This outlook reflects the Company’s current and preliminary views, which is subject to material changes.

    13 Non-GAAP net income represents net income excluding share-based compensation expenses.

    Conference Call Preregistration

    Qifu Technology’s management team will host an earnings conference call at 7:30 AM U.S. Eastern Time on Monday, March 17, 2025 (7:30 PM Beijing Time on the same day).

    All participants wishing to join the conference call must pre-register online using the link provided below.

    Registration Link: https://s1.c-conf.com/diamondpass/10045854-hg6t5r.html

    Upon registration, each participant will receive details for the conference call, including dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

    Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of the Company’s website at https://ir.qifu.tech.

    About Qifu Technology

    Qifu Technology is a leading AI-empowered Credit-Tech platform in China. By leveraging its sophisticated machine learning models and data analytics capabilities, the Company provides a comprehensive suite of technology services to assist financial institutions and consumers and SMEs in the loan lifecycle, ranging from borrower acquisition, preliminary credit assessment, fund matching and post-facilitation services. The Company is dedicated to making credit services more accessible and personalized to consumers and SMEs through Credit-Tech services to financial institutions.

    For more information, please visit: https://ir.qifu.tech.

    Use of Non-GAAP Financial Measures Statement

    To supplement our financial results presented in accordance with U.S. GAAP, we use Non-GAAP financial measure, which is adjusted from results based on U.S. GAAP to exclude share-based compensation expenses. Reconciliations of our Non-GAAP financial measures to our U.S. GAAP financial measures are set forth in tables at the end of this earnings release, which provide more details on the Non-GAAP financial measures.

    We use Non-GAAP income from operation, Non-GAAP operating margin, Non-GAAP net income, Non-GAAP net income margin, Non-GAAP net income attributed to the Company and Non-GAAP net income per fully diluted ADS in evaluating our operating results and for financial and operational decision-making purposes. Non-GAAP income from operation represents income from operation excluding share-based compensation expenses. Non-GAAP operating margin is equal to Non-GAAP income from operation divided by total net revenue. Non-GAAP net income represents net income excluding share-based compensation expenses. Non-GAAP net income margin is equal to Non-GAAP net income divided by total net revenue. Non-GAAP net income attributed to the Company represents net income attributed to the Company excluding share-based compensation expenses. Non-GAAP net income per fully diluted ADS represents net income excluding share-based compensation expenses per fully diluted ADS. Such adjustments have no impact on income tax. We believe that Non-GAAP income from operation, Non-GAAP operating margin, Non-GAAP net income, Non-GAAP net income margin, Non-GAAP net income attributed to the Company and Non-GAAP net income per fully diluted ADS help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in results based on U.S. GAAP. We believe that Non-GAAP income from operation and Non-GAAP net income provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making. Our Non-GAAP financial information should be considered in addition to results prepared in accordance with U.S. GAAP, but should not be considered a substitute for or superior to U.S. GAAP results. In addition, our calculation of Non-GAAP financial information may be different from the calculation used by other companies, and therefore comparability may be limited.

    Exchange Rate Information

    This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB 7.2993 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of December 31, 2024.

    Safe Harbor Statement

    Any forward-looking statements contained in this announcement are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. Qifu Technology may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including the Company’s business outlook, beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, which factors include but not limited to the following: the Company’s growth strategies, the Company’s cooperation with 360 Group, changes in laws, rules and regulatory environments, the recognition of the Company’s brand, market acceptance of the Company’s products and services, trends and developments in the credit-tech industry, governmental policies relating to the credit-tech industry, general economic conditions in China and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks and uncertainties is included in Qifu Technology’s filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Qifu Technology does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For more information, please contact:

    Qifu Technology
    E-mail: ir@360shuke.com

    Unaudited Condensed Consolidated Balance Sheets
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
           
      December 31, December 31, December 31,
      2023 2024 2024
      RMB RMB USD
    ASSETS      
    Current assets:      
    Cash and cash equivalents 4,177,890 4,452,416 609,978
    Restricted cash 3,381,107 2,353,384 322,412
    Short term investments 15,000 3,394,073 464,987
    Security deposit prepaid to third-party guarantee companies 207,071 162,617 22,278
    Funds receivable from third party payment service providers 1,603,419 462,112 63,309
    Accounts receivable and contract assets, net 2,909,245 2,214,530 303,389
    Financial assets receivable, net 2,522,543 1,553,912 212,885
    Amounts due from related parties 45,346 8,510 1,166
    Loans receivable, net 24,604,487 26,714,428 3,659,862
    Prepaid expenses and other assets 329,920 1,464,586 200,647
    Total current assets 39,796,028 42,780,568 5,860,913
    Non-current assets:      
    Accounts receivable and contract assets, net-noncurrent 146,995 27,132 3,717
    Financial assets receivable, net-noncurrent 596,330 170,779 23,397
    Amounts due from related parties 4,240 51 7
    Loans receivable, net-noncurrent 2,898,005 2,537,749 347,670
    Property and equipment, net 231,221 362,774 49,700
    Land use rights,net 977,461 956,738 131,073
    Intangible assets 13,443 11,818 1,619
    Goodwill 41,210 42,414 5,811
    Deferred tax assets 1,067,738 1,206,325 165,266
    Other non-current assets 45,901 36,270 4,969
    Total non-current assets 6,022,544 5,352,050 733,229
    TOTAL ASSETS 45,818,572 48,132,618 6,594,142
           
    LIABILITIES AND EQUITY      
    Current liabilities:      
    Payable to investors of the consolidated trusts-current 8,942,291 8,188,454 1,121,814
    Accrued expenses and other current liabilities 2,016,039 2,492,921 341,529
    Amounts due to related parties 80,376 67,495 9,247
    Short term loans 798,586 1,369,939 187,681
    Guarantee liabilities-stand ready 3,949,601 2,383,202 326,497
    Guarantee liabilities-contingent 3,207,264 1,820,350 249,387
    Income tax payable 742,210 1,040,687 142,574
    Other tax payable 163,252 109,161 14,955
    Total current liabilities 19,899,619 17,472,209 2,393,684
    Non-current liabilities:      
    Deferred tax liabilities 224,823 439,435 60,202
    Payable to investors of the consolidated trusts-noncurrent 3,581,800 5,719,600 783,582
    Other long-term liabilities 102,473 255,155 34,956
    Total non-current liabilities 3,909,096 6,414,190 878,740
    TOTAL LIABILITIES 23,808,715 23,886,399 3,272,424
    TOTAL QIFU TECHNOLOGY INC EQUITY 21,937,483 24,190,043 3,314,022
    Noncontrolling interests 72,374 56,176 7,696
    TOTAL EQUITY 22,009,857 24,246,219 3,321,718
    TOTAL LIABILITIES AND EQUITY 45,818,572 48,132,618 6,594,142
           
    Unaudited Condensed Consolidated Statements of Operations
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
                   
      Three months ended December 31,   Year ended December 31,
      2023 2024 2024   2023 2024 2024
      RMB RMB USD   RMB RMB USD
    Credit driven services 3,248,263   2,889,500   395,860     11,738,560   11,719,027   1,605,500  
    Loan facilitation and servicing fees-capital heavy 481,195   362,958   49,725     1,667,119   1,016,514   139,262  
    Financing income 1,485,446   1,667,340   228,425     5,109,921   6,636,511   909,198  
    Revenue from releasing of guarantee liabilities 1,211,787   761,827   104,370     4,745,898   3,695,017   506,215  
    Other services fees 69,835   97,375   13,340     215,622   370,985   50,825  
    Platform services 1,247,240   1,592,752   218,206     4,551,467   5,446,629   746,185  
    Loan facilitation and servicing fees-capital light 696,985   515,062   70,563     3,213,955   2,116,797   290,000  
    Referral services fees 446,486   907,207   124,287     950,016   2,842,637   389,440  
    Other services fees 103,769   170,483   23,356     387,496   487,195   66,745  
    Total net revenue 4,495,503   4,482,252   614,066     16,290,027   17,165,656   2,351,685  
    Facilitation, origination and servicing 731,787   734,659   100,648     2,659,912   2,900,704   397,395  
    Funding costs 161,016   126,841   17,377     645,445   590,935   80,958  
    Sales and marketing 551,590   523,936   71,779     1,939,885   1,725,877   236,444  
    General and administrative 108,037   156,061   21,380     421,076   449,505   61,582  
    Provision for loans receivable 639,886   598,353   81,974     2,151,046   2,773,323   379,944  
    Provision for financial assets receivable 148,198   63,251   8,665     386,090   296,857   40,669  
    Provision for accounts receivable and contract assets 91,105   77,450   10,611     175,799   421,481   57,743  
    Provision for contingent liabilities 784,323   311,372   42,658     3,053,810   478,404   65,541  
    Total operating costs and expenses 3,215,942   2,591,923   355,092     11,433,063   9,637,086   1,320,276  
    Income from operations 1,279,561   1,890,329   258,974     4,856,964   7,528,570   1,031,409  
    Interest income, net 46,970   74,951   10,268     217,307   237,015   32,471  
    Foreign exchange (loss) gain (815 ) 2,680   367     2,356   1,512   207  
    Other income, net 5,209   (35,251 ) (4,829 )   230,936   125,325   17,169  
    Investment loss –   –   –     (30,112 ) –   –  
    Income before income tax expense 1,330,925   1,932,709   264,780     5,277,451   7,892,422   1,081,256  
    Income taxes expense (223,237 ) (20,042 ) (2,746 )   (1,008,874 ) (1,644,306 ) (225,269 )
    Net income 1,107,688   1,912,667   262,034     4,268,577   6,248,116   855,987  
    Net loss attributable to noncontrolling interests 4,052   3,970   544     16,759   16,198   2,219  
    Net income attributable to ordinary shareholders of the Company 1,111,740   1,916,637   262,578     4,285,336   6,264,314   858,206  
    Net income per ordinary share attributable to ordinary shareholders of Qifu Technology, Inc.
    Basic 3.51   6.70   0.92     13.36   21.02   2.88  
    Diluted 3.44   6.62   0.91     13.04   20.64   2.83  
                   
    Net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc.
    Basic 7.02   13.40   1.84     26.72   42.04   5.76  
    Diluted 6.88   13.24   1.82     26.08   41.28   5.66  
                   
    Weighted average shares used in calculating net income per ordinary share
    Basic 316,325,750   285,872,913   285,872,913     320,749,805   298,012,150   298,012,150  
    Diluted 323,305,948   289,427,077   289,427,077     328,508,945   303,449,864   303,449,864  
                   
    Unaudited Condensed Consolidated Statements of Cash Flows
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
                   
      Three months ended December 31,   Year ended December 31,
      2023 2024 2024   2023 2024 2024
      RMB RMB USD   RMB RMB USD
    Net cash provided by operating activities 2,351,791   3,051,606   418,067     7,118,350   9,343,311   1,280,027  
    Net cash used in investing activities (1,885,694 ) (945,611 ) (129,548 )   (11,147,789 ) (7,994,081 ) (1,095,184 )
    Net cash (used in) provided by financing activities (911,621 ) (1,873,516 ) (256,671 )   1,066,458   (2,114,463 ) (289,680 )
    Effect of foreign exchange rate changes (877 ) 31,464   4,311     9,615   12,036   1,649  
    Net (decrease) increase in cash and cash equivalents (446,401 ) 263,943   36,159     (2,953,366 ) (753,197 ) (103,188 )
    Cash, cash equivalents, and restricted cash, beginning of period 8,005,398   6,541,857   896,231     10,512,363   7,558,997   1,035,578  
    Cash, cash equivalents, and restricted cash, end of period 7,558,997   6,805,800   932,390     7,558,997   6,805,800   932,390  
                   
    Unaudited Condensed Consolidated Statements of Comprehensive (Loss)/Income
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
           
      Three months ended December 31,
      2023 2024 2024
      RMB RMB USD
    Net income 1,107,688   1,912,667 262,034
    Other comprehensive income, net of tax of nil:      
    Foreign currency translation adjustment (3,606 ) 145,610 19,948
    Other comprehensive (loss) income (3,606 ) 145,610 19,948
    Total comprehensive income 1,104,082   2,058,277 281,982
    Comprehensive loss attributable to noncontrolling interests 4,052   3,970 544
    Comprehensive income attributable to ordinary shareholders 1,108,134   2,062,247 282,526
           
           
      Year ended December 31,
      2023 2024 2024
      RMB RMB USD
    Net income 4,268,577   6,248,116 855,987
    Other comprehensive income, net of tax of nil:      
    Foreign currency translation adjustment 17,118   46,534 6,375
    Other comprehensive income 17,118   46,534 6,375
    Total comprehensive income 4,285,695   6,294,650 862,362
    Comprehensive loss attributable to noncontrolling interests 16,759   16,198 2,219
    Comprehensive income attributable to ordinary shareholders 4,302,454   6,310,848 864,581
    Unaudited Reconciliations of GAAP and Non-GAAP Results
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
           
      Three months ended December 31,
      2023 2024 2024
      RMB RMB USD
    Reconciliation of Non-GAAP Net Income to Net Income      
    Net income 1,107,688   1,912,667   262,034
    Add: Share-based compensation expenses 42,572   59,720   8,182
    Non-GAAP net income 1,150,260   1,972,387   270,216
    GAAP net income margin 24.6 % 42.7 %  
    Non-GAAP net income margin 25.6 % 44.0 %  
           
    Net income attributable to shareholders of Qifu Technology, Inc. 1,111,740   1,916,637   262,578
    Add: Share-based compensation expenses 42,572   59,720   8,182
    Non-GAAP net income attributable to shareholders of Qifu Technology, Inc. 1,154,312   1,976,357   270,760
    Weighted average ADS used in calculating net income per ordinary share for both GAAP and non-GAAP EPS -diluted 161,652,974   144,713,538   144,713,538
    Net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc. -diluted 6.88   13.24   1.82
    Non-GAAP net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc. -diluted 7.14   13.66   1.87
           
    Reconciliation of Non-GAAP Income from operations to Income from operations      
    Income from operations 1,279,561   1,890,329   258,974
    Add: Share-based compensation expenses 42,572   59,720   8,182
    Non-GAAP Income from operations 1,322,133   1,950,049   267,156
    GAAP operating margin 28.5 % 42.2 %  
    Non-GAAP operating margin 29.4 % 43.5 %  
           
           
      Year ended December 31,
      2023 2024 2024
      RMB RMB USD
    Reconciliation of Non-GAAP Net Income to Net Income      
    Net income 4,268,577   6,248,116   855,987
    Add: Share-based compensation expenses 185,604   167,613   22,963
    Non-GAAP net income 4,454,181   6,415,729   878,950
    GAAP net income margin 26.2 % 36.4 %  
    Non-GAAP net income margin 27.3 % 37.4 %  
           
    Net income attributable to shareholders of Qifu Technology, Inc. 4,285,336   6,264,314   858,206
    Add: Share-based compensation expenses 185,604   167,613   22,963
    Non-GAAP net income attributable to shareholders of Qifu Technology, Inc. 4,470,940   6,431,927   881,169
    Weighted average ADS used in calculating net income per ordinary share for both GAAP and non-GAAP EPS -diluted 164,254,473   151,724,932   151,724,932
    Net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc. -diluted 26.08   41.28   5.66
    Non-GAAP net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc. -diluted 27.22   42.39   5.81
           
    Reconciliation of Non-GAAP Income from operations to Income from operations      
    Income from operations 4,856,964   7,528,570   1,031,409
    Add: Share-based compensation expenses 185,604   167,613   22,963
    Non-GAAP Income from operations 5,042,568   7,696,183   1,054,372
    GAAP operating margin 29.8 % 43.9 %  
    Non-GAAP operating margin 31.0 % 44.8 %  
           

    The MIL Network –

  • MIL-OSI Australia: There’s plenty of pork on Chinese forks, but the environment is paying a heavy price

    Source: University of South Australia

    17 March 2025

    Pork accounts for at least 60% of all meat eaten in China, but its popularity exacts a heavy toll on the environment that has proven tricky to resolve until now.

    A new study by Chinese and Australian researchers has identified a sustainable solution to mitigating excessive amounts of copper found in the 3.8 billion tons of pig manure turned into organic fertiliser to increase crop yields.

    Although an essential nutrient in small doses, high concentrations of copper – added to pig feed to promote growth – is toxic to plants, soil, water and humans.

    Researchers from China’s Fujian Normal University and the University of South Australia have demonstrated that adding green-synthesised iron nanoparticles (G-nFe) to pig manure neutralises the amount of bioavailable copper in piggery effluent, reducing the environmental risks.

    China has regulations limiting the amount of copper allowed in pig feed, but the scale of livestock farming keeps increasing to feed a population of 1.4 billion people, making it difficult to control the huge amount of manure and sewage released into the environment.

    Experiments undertaken by researchers showed that adding G-nFe to pig manure compost reduced exchangeable cooper by 66.8%, carbonate-bound copper by 47.5%, and iron-manganese oxide-bound copper by 15.4%.

    “This process was able to convert free copper into a less bioavailable form, reducing the potential for uptake by plants,” according to UniSA environmental chemist, Associate Professor Gary Owens, who was part of the study.

    Residual copper levels initially increased by a third in the first five days before declining by over 60.9% over the full composting period.

    The study findings have recently been published in the journal Science of the Total Environment.

    China processes approximately 628 million pigs annually, making it the world’s largest pork producer.

    Nearly half of the 3.8 billion tons of the resulting pig manure is inadequately treated, researchers say, and the heavy metal and organic pollutants are causing widespread environmental contamination.

    While pig manure has traditionally been valued s an inexpensive organic fertiliser for Chinese farmers, it is increasingly posing a serious problem due to the heavy metal contamination, posing a challenge for both government and researchers seeking economically viable solutions.

    Green synthesised iron nanoparticles have been widely used to remediate water and soil contamination due to its cost-effectiveness, low toxicity, and strong absorption rates.

    However, this is the first study to explore its use in organic compost to remediate heavy metal pollution.

    “This research presents a significant step forward in addressing heavy metal contamination in agricultural waste,” according to Assoc Prof Owens.

    “By using green-synthesised iron nanoparticles, we can not only improve the safety of composted pig manure, but also contribute to more sustainable farming practices.”

    The researchers plan to test G-nFe’s efficiency in larger composting systems using fresh pig manure, hoping to encourage stakeholders in the livestock and composting sectors to adopt the process.

    A video explaining the research is available at https://youtu.be/CoEz82qlSq8

    Notes for editors

    “Enhanced Copper Passivation in Pig Manure Composting through Iron Nanoparticle Amendment” is authored by researchers from Fujian Polytechnic Normal University, Fujian Key Laboratory of Pollution Control & Resource Reuse, and the University of South Australia. DOI: 10.1016/j.scitotenv.2024.177950

    The University of South Australia and the University of Adelaide are joining forces to become Australia’s new major university – Adelaide University. Building on the strengths, legacies and resources of two leading universities, Adelaide University will deliver globally relevant research at scale, innovative, industry-informed teaching and an outstanding student experience. Adelaide University will open its doors in January 2026. Find out more on the Adelaide University website.

    …………………………………………………………………………………………………………………………

    Media contact: Candy Gibson M: +61 434 605 142 E: candy.gibson@unisa.edu.au
    Researcher contact: Associate Professor Gary Owens E: gary.owens@unisa.edu.au

    MIL OSI News –

  • MIL-OSI Australia: Road blitz delivers for south-east Melbourne

    Source: Australia Government Ministerial Statements

    The Albanese and Allan Labor Governments are fixing roads across Victoria, improving safety and better connecting Melbourne’s suburbs, Victoria’s regions, and surrounds.

    The Australian and Victorian Governments will deliver two new road projects in a big win for the south-east:

    • Nepean Highway and Overton Road Intersection Upgrade ($50 million)
    • McLeod Road and Mornington Peninsula Freeway Intersection Upgrade ($25 million)

    The Nepean Highway and Overton Road Intersection Upgrade will enhance road safety for vehicles, pedestrians and cyclists by installing traffic signals and improving footpath connectivity to the existing Kananook Creek Trail.

    The McLeod Road and Mornington Peninsula Freeway Intersection Upgrade will deliver improvements to this intersection, supporting journeys between the south-east suburbs and the coast.

    These will be transformative projects for Melbourne’s south-east, improving the lives of residents from Carrum to Frankston and beyond.  

    The projects are part of the Albanese Labor Government’s $1 billion Road Blitz, matching the existing near-billion dollar road blitz campaign by the Allan Labor Government, who have since added an additional $200 million.

    This money is ready, right now, to fix roads in need of critical upgrades.

    This follows funding already allocated to three projects under the Road Blitz, including:

    • Sealing and upgrading 5.6km of Old Sydney Road from the Mitchell/Hume boundary, Mickleham, to Camerons Lane, Beveridge.
    • Completing the duplication of Evans Road, Cranbourne, between Duff Street and Central Parkway.
    • Delivering further works at the intersection of McLeod Road and Station Street, Carrum, including adjustments to improve signalisation and traffic flow.

    Delivery timeframes for the projects will be determined in consultation with the Victorian Government.

    Quotes attributable to Prime Minister of Australia Anthony Albanese:

    “My Government is building Australia’s future – and that means building Victoria’s future too. We want to make sure all Victorians have the services and the infrastructure they need now and into the future.

    “We will continue to partner with the Victorian Government to deliver critical road upgrades to provide immediate congestion relief now.

    “This is good for local jobs, good for local businesses and good for commuters.”

    Quotes attributable to Victorian Premier Jacinta Allan:

    “Every Victorian wants to spend less time stuck in traffic and more time with family – that’s why we’re delivering major road upgrades across Melbourne’s south-east and faster and safer journeys for decades to come.”

    “As we build more homes, we are making sure our fastest growing communities have the transport infrastructure they deserve now and into the future.”

    Quotes attributable to Federal Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King:

    “We’re fixing roads right across Victoria; from Ararat to Gippsland to Melbourne, we’re giving Victorians the infrastructure they deserve after being short-changed by the former Coalition government. 

    “These will be transformative projects for Melbourne’s south-east, better connecting these growing suburbs with the city and the region.

    “The Road Blitz will fund projects to improve network efficiency, travel times and road safety in key areas of Melbourne and its surrounds, to match the Victorian Government’s Road Blitz which is largely focused on the regions.

    Quotes attributable to Victorian Minister for Transport Infrastructure Gabrielle Williams:

    “After ten years of neglect from the federal Liberal National Party, it’s fantastic to have a partner in Canberra that can find Victoria on a map and deliver critical investments to keep our state moving.”

    “Our growing communities deserve the very best road connections, which is why we are investing more to improve traffic flow and boost safety.”

    Quotes attributable to Member for Dunkley Jodie Belyea:

    “As a local who travels frequently across our community, I know this investment will make a major difference for pedestrians and road users.

    “These upgrades will enhance safety for pedestrians and road users in our local community.

    “These upgrades will make our local roads safer and get people moving faster.

    “This money is ready right now, to deliver two major road upgrades in our community.

    “Only the Albanese Labor Government is continuing to invest in roads and infrastructure in our local community, building Australia’s future.”

    MIL OSI News –

  • MIL-OSI Australia: Albanese Government infrastructure to help unlock 60,000 homes in New South Wales

    Source: Australia Government Ministerial Statements

    The Albanese Labor Government is building Australia’s future, giving the green light for critical infrastructure to support nearly 60,000 new homes and make more than 100 social houses available across New South Wales. 

    We are providing $304.3 million to support housing development across the state, as part of our Housing Support Program.

    The Albanese Government’s investment includes $76.1 million to boost social housing in key growth areas including Parramatta, Blacktown, Campbelltown, Randwick and Albury.

    It also includes $228.2 million for five public place projects that will open up much-needed green and community spaces across the greater Sydney area. 

    The new public space projects will be delivered under the NSW Government’s Parks for People program, which will be implemented over three successive phases with Bankstown, Bella Vista and Kellyville all included in the first stage.

    Working in partnership with the Minns Labor Government, projects have been selected in the state’s Transport Oriented Development (TOD) Accelerated Precincts to deliver parks and shared community spaces in high-priority growth areas.  

    This will fill an essential piece of the puzzle by delivering green space in the city’s new urban precincts, providing places to exercise, rest and socialise. It means more homes, more jobs and more public parks within walking distance of accessible transport. 

    This will create capacity for nearly 60,000 homes and 120,000 jobs around major metro and rail stations, including mandatory affordable housing. 

    Our latest funding builds on more than $182 million already allocated across NSW for enabling infrastructure works such as roads, sewage and water, and to support new homes with connections to transport links and open spaces.

    We’re also investing $610 million into NSW via the Social Housing Accelerator Fund, which is funding many of the state’s shovel-ready social housing projects. 

    This is part of the Albanese Government’s $32 billion Home of Your Own Plan to meet the ambitious national target of building 1.2 million new, well-located homes over the next 5 years.

    Quotes attributable to Federal Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King:

    “We’re turbocharging housing supply by delivering the infrastructure New South Wales needs.

    “A place to call home is fundamental, but for too many Australians has been out of reach.

    “Addressing housing shortages will take all levels of Government to respond, which is why we’re working in lockstep with the Minns Labor Government to fast-track housing development across the state. 

    “This means more homes, more jobs and more green space in well-located, well-connected growth areas.”

    Quotes attributable to Federal Minister for Housing and Homelessness Clare O’Neil: 

    “This investment shows just how important it is to have a Commonwealth Government that works in coperation with State governments – like the Minns Government – to deliver more well located houses for more people.

    “We’re starting the largest house build in Australian history. We have an ambitious target for 1.2 million new homes and we’re delivering 55,000 social and affordable rental homes. We’re directly investing in building new homes – just like we used to. 

    “We are tackling this housing crisis from every angle, which includes working closely with States and Territories to make sure there is critical infrastructure to support homes in a cities and regions.”

    Quotes attributable to NSW Minister for Planning and Public Spaces Paul Scully:

    “The Commonwealth’s investment will help NSW address our housing challenges and deliver on the National Housing Accord target.

    “Through the Minns Government’s Transport Oriented Development Accelerated Precincts we’re delivering nearly 60,000 homes, and these areas include great public greenspaces thanks to this funding from the Albanese Government.”

    Quotes attributable to NSW Minister for Housing and Homelessness Rose Jackson: 

    “Every bit of funding helps and we’re thankful to the Commonwealth for this additional support to help us house people who need it as soon as we possibly can.  

    “This is a significant investment, and it allows us to make an instant impact during a housing crisis.  

    “The Homes NSW teams have been scouring the state for opportunities to acquire fit-for-purpose housing that will be immediately used to house those who are most in need.”

    MIL OSI News –

  • MIL-OSI Australia: Executive Leadership Team changes

    Source: National Australia Bank

    NAB Group Chief Executive Officer (CEO) Andrew Irvine today announced changes to the bank’s Executive Leadership Team.

    • Andrew Auerbach, an experienced business and wealth banker from Canada, will join NAB as Group Executive, Business & Private Banking (B&PB) on 16 June;
    • Rachel Slade, currently Group Executive B&PB, will leave NAB on 1 July, allowing for a transition period and to work with Mr Irvine as a senior adviser; and
    • Nathan Goonan has resigned as Group Chief Financial Officer (CFO). He will leave NAB later this year after meeting his contractual obligations.

    Mr Irvine said transition arrangements from Tuesday 18 March would be:

    • Michael Saadie, currently Executive, Private Wealth and CEO of JB Were, acting as Group Executive B&PB until Mr Auerbach starts at NAB;
    • Shaun Dooley, currently Group Chief Risk Officer (CRO), acting as Group CFO while NAB recruits a new Group CFO; and
    • Peter Whitelaw, currently Executive, Chief Resilience Risk Officer, acting as Group CRO.

    “NAB has good business momentum and is executing a clear strategy based on being better for customers and our colleagues. We have great talent and leadership across the bank and I’m confident we will maintain momentum while we embed these changes,” Mr Irvine said.

    Mr Auerbach spent more than 21 years in senior executive roles with the Bank of Montreal (BMO) in Canada, including alongside Mr Irvine.  During his career he has worked closely with business owners and entrepreneurs delivering strong customer and commercial outcomes. On leaving BMO, in 2023 he co-founded and is CEO of Canadian wealth management firm Delisle Advisory Group. He will end his involvement with Delisle before joining NAB.

    “Andrew will be a tremendous addition to the NAB team and a strong leader for our leading business bank as we continue to execute our strategy and drive performance in a competitive environment. In particular, he brings a strong track record of improving both customer experiences and financial performance,” Mr Irvine said.

    Ms Slade joined NAB in 2017 and was appointed to the Executive Leadership Team in 2018 as Chief Customer Experience Officer, then Group Executive, Personal Banking in 2020. Ms Slade became Group Executive, B&PB last year when Mr Irvine became NAB Group CEO.

    Mr Goonan has been with NAB for a total of 15 years in two periods, holding various executive roles. He joined the Executive Leadership Team in 2020 as Group Executive, Strategy & Innovation and was appointed Group CFO in 2023.

    “Rachel and Nathan have been dedicated to NAB, very supportive of successive Group CEOs and focused on customers every day. I have appreciated their support in our time together and wish them well for the future,” Mr Irvine said.

    Mr Auerbach’s appointment is subject to regulatory approvals.

    Read the announcement on the ASX. 

    Topics

    SEE ALL TOPICS

    Media Enquiries

    For all media enquiries, please contact the NAB Media Line on 03 7035 5015

    MIL OSI News –

  • MIL-OSI New Zealand: Education delegation departs for Europe & UK

    Source: New Zealand Government

    Education Minister Erica Stanford is leading a New Zealand delegation to Iceland to participate in the 2025 International Summit on the Teaching Profession (ISTP). 

    “The summit will be attended by Education Ministers, union leaders, and teacher leaders from high performing OECD countries. It provides an excellent opportunity for sharing best practice and gaining an international perspective on common challenges,” Ms Stanford says.

    The New Zealand delegation includes representatives from the Ministry of Education, the Post Primary Teachers’ Association (PPTA) Te Wehengarua and the New Zealand Educational Institute (NZEI) Te Riu Roa. 

    This year’s summit theme is ‘Quality Education: The Key to Prosperity and Well-being’. The discussion topics include building a foundation for equitable and inclusive education, supporting educators to foster equity and wellbeing, and the educator’s role in child-centred education systems.

    “Everything we’re doing is aimed at lifting achievement and closing the equity gap so all Kiwi kids can succeed. I look forward to continuing to share our education journey with my ministerial counterparts and strengthening New Zealand’s education ties with the world,” Ms Stanford says.

    Minister Stanford will also travel to the United Kingdom, Sweden and Germany.

    While in the UK, she will meet with the Secretary of State for Education, Department for Education officials, the Office for Standards in Education, and the Education Endowment Foundation. She will also visit local schools and have meetings with Oxford University Press and the Cambridge Assessment.

    In Stockholm, Sweden, Minister Stanford will give a keynote speech and participate in the 2025 Knowledge Rich Curriculum Forum. In Hamburg, Germany, Minister Stanford will participate in a German New Zealand Chamber of Commerce networking event to promote overseas investment in New Zealand. 

    Minister Stanford travelled to the UK and Europe on 16 March and returns to New Zealand on 29 March. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Proposed amendments to the New Zealand Food Notice: Maximum Residue Levels for Agricultural Compounds

    Source: Ministry for Primary Industries

    Have your say

    New Zealand Food Safety wants your feedback about changes to the New Zealand Food Notice: Maximum Residue Levels for Agricultural Compounds. The proposed changes include:

    • 2 new entries for maximum residue levels in Schedule 1
    • 12 amended entries for maximum residue levels in Schedule 1.

    Full details are in the consultation document. Submissions close at 5pm on 16 May 2025.

    Consultation document

    Proposals to amend the New Zealand Food Notice: Maximum Residue Levels for Agricultural Compounds [PDF, 494 KB]

    Related documents

    WTO notification – NZL 783 – SPS notification – Proposals to Amend the Maximum Residue Levels [PDF, 203 KB]

    Background information about MRLs

    Maximum Residue Levels (MRLs) are the maximum legal levels for residues of agricultural chemicals and veterinary medicines in food for sale in New Zealand. As new products and uses are registered, new MRLs are set and existing MRLs are adjusted as needed to ensure that residue levels remain as low as practicable without compromising the ability for the chemical to successfully do what is intended. Entries are also set and amended for compounds that do not require MRLs to manage residues in food.

    The entries in the notice for MRLs and compounds for which MRLs do not apply are established for agricultural compounds to support Good Agricultural Practice in New Zealand while ensuring risks associated with food safety are effectively managed. MRLs may also be proposed to support the importation of food into New Zealand.

    Making your submission

    Email your feedback on the consultation document by 5pm on 16 May 2025 to ACVM.Consultation@mpi.govt.nz

    For each compound you comment on, answer these questions:

    • Do you agree or disagree with the proposed addition or amendment?
    • Do you agree or disagree with the proposed MRL values?

    While we prefer email, you can send your submission by post to:

    MRL Amendments
    New Zealand Food Safety
    Ministry for Primary Industries
    PO Box 2526
    Wellington 6140
    New Zealand.

    What to include

    Make sure you tell us in your submission:

    • the title of the consultation document
    • your name and title
    • your organisation’s name (if you are submitting on behalf of an organisation, and whether your submission represents the whole organisation or a section of it)
    • your contact details (such as phone number, address, and email).

    Submissions are public information

    Note that all, part, or a summary of your submission may be published on this website. Most often this happens when we issue a document that reviews the submissions received.

    People can also ask for copies of submissions under the Official Information Act 1982 (OIA). The OIA says we must make the content of submissions available unless we have good reason for withholding it. Those reasons are detailed in sections 6 and 9 of the OIA.

    If you think there are grounds to withhold specific information from publication, make this clear in your submission or contact us. Reasons may include that it discloses commercially sensitive or personal information. However, any decision MPI makes to withhold details can be reviewed by the Ombudsman, who may direct us to release it.

    Official Information Act 1982 – NZ Legislation

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Health requirements strengthened for children of temporary visa holders

    Source: New Zealand Government

    The Government is strengthening health requirements for dependent children of people on temporary visas to ensure more consistency in the immigration system.
    “In recent years, a spike in enrolments of children of temporary migrants in our schools has resulted in an increase in children from this cohort with very high learning needs. This has put significant strain on an already oversubscribed learning support system, preventing other children from getting the support they need,” Immigration Minister Erica Stanford says.
    From 17 March, dependent children of temporary visa holders will no longer be eligible for student and visitor visas if they have a severe cognitive or development disorder that requires significant support. These changes will be applicable to people both offshore and those already onshore applying for a new visa. Immigration New Zealand will continue to be able to exercise discretion in exceptional circumstances.
    “Parents or legal guardians are required to declare whether a child has a medical condition that may affect their ability to be granted a visa. In addition, most applicants applying for a visa that allows a stay of 12 months or more must supply a full medical certificate.
    “This will provide greater transparency and fairness for temporary visa applicants by aligning the health requirements with those applying for resident visas. The current system allows a family with a child with significant additional needs to be granted a temporary visa and become settled in New Zealand, only for them to then discover they are not eligible for residency.
    “Our immigration system must balance creating opportunities for people to come here and make a meaningful contribution but also protect New Zealanders rights to work and thrive. Aligning the health settings across these visas provides more clarity in our immigration system, as well as ensuring those currently in the education system receive the additional support they need,” Ms Stanford says. 
     
    Notes to editor:
    The Acceptable Standard of Health, or ASH, are a set of criteria that Immigration New Zealand (INZ) uses to evaluate visa applicants. More information about ASH can be found here: www.immigration.govt.nz/new-zealand-visas/preparing-a-visa-application/medical-info/acceptable-standard-of-health-criteria-for-visa-approvals

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Rebuilding SH1 at Whakapara

    Source: New Zealand Transport Agency

    NZ Transport Agency Waka Kotahi (NZTA) contractors will begin rebuilding a section of State Highway 1 near Puhipuhi Rd, Whakapara, from next week.

    From Wednesday (19 March) the road will be down to one lane with stop/go traffic management and a 30km/h temporary speed limit in place for the duration of the works.

    Contractors will undertake dayworks between 6am and 8pm for the first week, before switching to 24/7 day and night works.

    There will be increased noise for residents in the area.

    Travel delays are typically expected to be less than 10 minutes, longer during peak. We encourage road users to plan ahead and allow extra time for their journeys.

    Work will stop over the Easter holiday weekend and ANZAC Day, and is expected to be completed on Wednesday 30 April.

    Access to residents properties and for emergency services will be maintained throughout the works.

    Please be patient and treat our crews with kindness and respect. Reduce your speed, adhere to the temporary speed limits and follow the directions of traffic management staff and signs.

    Rebuilding the road, which often involves replacing all or most of the structural road layers, improves the longevity of the network, and ultimately the safety and efficiency for all road users.

    This summer maintenance period (September 2024 to May 2025), we’re investing in the largest road rebuild programme ever for the region, with Northland one of three regions across Aotearoa with the most significant road rebuild programmes over the next three years. 

    This work is weather dependent and there may be changes to the planned works in the case of unsuitable weather. Please visit the NZTA Journey Planner website for up-to-date information on these works, including any changes due to weather.

    For more information about the overall maintenance programme and planned works, visit the Northland State Highway Maintenance Programme website:

    Journey Planner – Northland roadworks(external link)

    You can now sign up to receive email updates on upcoming road maintenance:

    NZTA thanks everyone for their understanding and support while we carry out this essential maintenance to improve the safety and efficiency of Northland’s state highway network.

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Take care, pay attention: Fire alongside SH1 Brynderwyn Hills

    Source: New Zealand Transport Agency

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    Fire and Emergency New Zealand (FENZ) is currently fighting a scrub fire next to State Highway 1 on the northern side of the Brynderwyn Hills.

    NZ Transport Agency does not expect to close this section of SH1 at this point, but is in continual contact with FENZ staff and a traffic management crew is standing by on-site to assist as required.

    Road users are asked to allow additional time for their journeys and to slow down, follow any directions from emergency services or traffic management personnel and drive with care, paying close attention to the road, rather than activity alongside it.

    As the situation may change, people are encouraged to visit the Journey Planner website for up to date information before they travel.

    NZTA thanks everyone for their patience.

    Tags

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Plan ahead for upcoming works on SH1 north of Auckland

    Source: New Zealand Transport Agency

    Motorists traveling on State Highway 1 (SH1) north of Auckland are advised to plan ahead, with lane and road closures scheduled between Sunday 16 and Friday 21 March.

    Johnstone Hill Tunnels – Sunday 16 to Friday 21 March

    Northbound traffic will be shifted across to one of the southbound lanes through the Johnstone Hill Tunnels from 9pm on Sunday 16 to 5am on Friday 21 March while the northbound lanes are closed to allow contractors to undertake tunnel maintenance.

    Silverdale Interchange to Warkworth Roundabout – Tuesday 18 March (northbound)

    On Tuesday night, SH1 northbound will close between Silverdale interchange and Warkworth roundabout from 9pm to 5am for road resurfacing and vegetation clearance. Several on- and off-ramps will also be closed, including:

    • Silverdale northbound on-ramp
    • Millwater northbound off-ramp
    • Orewa northbound off-ramp and on-ramp
    • Puhoi Road northbound off-ramp
    • Warkworth roundabout northbound off-ramp

    Motorists should use the recommended detour via Hibiscus Coast Highway and Old SH1.

    Warkworth Roundabout to Silverdale Interchange – Wednesday 19 March (southbound)

    On Wednesday night, SH1 southbound will close between Warkworth roundabout and Silverdale interchange from 9pm to 5am for road resurfacing and vegetation clearance. Ramp closures include:

    • Puhoi southbound on-ramp
    • Orewa southbound off-ramp and on-ramp
    • Millwater southbound on-ramp
    • Silverdale southbound off-ramp

    Detour via Old SH1 and Hibiscus Coast Highway.

    Silverdale Interchange to Oteha Valley Road – Monday 17 to Thursday 20 March

    Southbound lane restrictions will be in place to allow contractors to undertake slip repairs, though traffic will still be able to travel south at all times.

    Plan Ahead

    Drivers are urged to drive with care and follow the directions of traffic management staff and signs.

    Ramp closures and lane restrictions may be in place before the advertised closure times for the main state highway.

    There will be increased noise while contractors undertake these works.

    All work is weather dependent, and dates may change. For the latest updates, visit the NZTA Journey Planner

    Journey Planner(external link)

    NZTA thanks everyone for their patience while we undertake this important works to improve the safety and efficiency of SH1 north of Auckland.

    MIL OSI New Zealand News –

  • MIL-Evening Report: Chinese only introduced a feminine pronoun in the 1920s. Now, it might adopt a gender-inclusive one

    Source: The Conversation (Au and NZ) – By Janet Davey, PhD Candidate, Australian Centre on China in the World, Australian National University

    Andra C Taylor Jr/Unsplash

    Including pronouns in introductions, your email signature or your social media bio may seem like a minor detail. Pronouns are just small words we use in place of names all the time. But, like names, pronouns have personal significance. They say something about who we are.

    Trans, nonbinary and gender-diverse people face many issues more pressing than pronouns, including health and educational disparities and disproportionately higher rates of abuse, violence and discrimination. Getting pronouns right is a simple thing everyone can do to show respect.

    Linguistic shifts towards gender inclusivity are occurring worldwide, and the use of gender-neutral or inclusive pronouns is not a new nor exclusively Western phenomenon.

    Chinese, one of the world’s oldest languages and spoken by more than one billion people, illustrates how languages adapt to reflect shifting understanding of gender. Its pronoun system may be on the cusp of significant change.

    Developing pronouns

    In my newly published research, I’ve explored what is happening with Chinese third-person pronouns.

    The modern Chinese pronoun system is fascinating for two reasons.

    First, gendered pronouns have only been part of the Chinese language for 100 years: the feminine pronoun 她 (she) was only adopted in the 1920s.

    Second, although there are now distinct Chinese characters for “he”, 他, and “she”, 她, these are both pronounced tā in Mandarin. You can have a whole conversation about someone without revealing their gender.

    The lack of gender-distinct pronouns in spoken Mandarin has prompted calls for written Chinese to follow suit. Queer Chinese speakers have proposed several gender-inclusive pronouns that would be pronounced tā, just like 他 (he) and 她 (she).

    Queer Chinese speakers have proposed several gender-inclusive pronouns.
    Mogome01/Shutterstock

    These include the romanised form “TA” and new Chinese characters 「⿰无也」 and 「⿰㐅也」. These new characters might look strange: they are written like this to clarify that they should be read as one Chinese character. Currently, they take up the space of two Chinese characters because they are not yet in Unicode and cannot be typed properly.

    Other people hope to see the now-masculine 他 regain its original function as an ungendered pronoun.

    What pronouns do queer Chinese speakers use?

    To understand how Chinese pronouns are changing, I surveyed more than 100 queer Chinese speakers across 12 countries. I asked survey respondents, a third of whom were nonbinary or otherwise gender-diverse, about their pronoun preferences and perceptions. I also analysed how pronouns are used in a large database of contemporary Chinese texts.

    My research found gender-inclusive pronouns accounted for about a quarter of first-choice pronouns, and nearly half of all pronouns used by survey respondents. TA was overwhelmingly preferred by gender-diverse individuals (70%), with the English “they” (20%) the next most popular option.

    While cisgender and transgender men almost exclusively used masculine pronouns, cis and trans women showed significant openness to using gender-inclusive pronouns alongside feminine ones. After 她 (she), TA was the second most common pronoun for women (40%) and second most common overall (17%).

    Notably, 他 (he) was not used by any women or gender-diverse people, except one who considered it gender-neutral. This suggests reviving its original ungendered usage may be difficult.

    Survey participants were overwhelmingly positive about TA.
    Chay_Tee/Shutterstock

    TA emerged as the most recognised gender-inclusive pronoun, with nearly all respondents (97%) familiar with it regardless of their age, gender, region or language background. In contrast, fewer than 8% had encountered the new character-based pronouns 「⿰无也」 or「⿰㐅也」 and no one reported using them.

    What makes TA so popular?

    Survey participants were overwhelmingly positive about TA, with 63% expressing favourable views. As one respondent explained:

    The look and feel is good, it suits people’s everyday pronunciation habits, and doesn’t create issues with having to specify someone’s gender.

    TA functions similarly to English singular “they”. It works in two ways: as a gender-neutral pronoun when gender is unknown (like saying “someone left their umbrella”), and as a gender-inclusive pronoun specifically including gender-diverse people.

    Many survey respondents called TA “respectful” and “inclusive” but also simply “convenient”.

    However, some respondents were concerned TA is “untraditional” and “pollutes the Chinese language”.

    Practical considerations for using emerging Chinese pronouns also extend to the technical challenges of typing new Chinese characters. Before a new character can be typed on computers or phones, it needs to be officially encoded in Unicode, the global standard for digital text.

    My research shows this requirement is strongly influencing which emerging Chinese pronouns can gain traction.

    While some survey respondents hoped to see a gender-inclusive Chinese character adopted, they weren’t optimistic about 「⿰无也」or 「⿰㐅也」 becoming mainstream.

    As one noted:

    「⿰无也」is good, but it’s hard to type and it takes a long time to explain.

    User-friendly and easily understandable

    TA is currently the most popular emerging Chinese gender-inclusive pronoun, crucially because it mimics how people use tā in spoken Mandarin.

    It is already part of people’s vocabulary, and already used (at least as a gender-neutral pronoun) by mainstream Chinese media and on online platforms.

    This 2023 TEDxSuzhouWomen talk is titled ‘We are all gender misfits’ (你我ta都是”性别酷儿)

    Unlike other recently proposed pronouns, TA is versatile, user-friendly and easily understandable for queer and non-queer Chinese speakers alike. This makes TA a strong contender for widespread adoption into contemporary Chinese.

    Like the introduction of a Chinese feminine pronoun 她 (she) in the 1920s, the emergence of TA as a gender-inclusive pronoun in the 2020s is about recognising a wider spectrum of identities.

    Pronouns are not a political statement, just a personal statement. When you use someone’s correct pronouns, you’re saying, “I see you, and I respect who you are”. That’s something worth talking about, in any language.

    Janet Davey is supported by an Australian Government Research Training Program (RTP) Scholarship.

    – ref. Chinese only introduced a feminine pronoun in the 1920s. Now, it might adopt a gender-inclusive one – https://theconversation.com/chinese-only-introduced-a-feminine-pronoun-in-the-1920s-now-it-might-adopt-a-gender-inclusive-one-221013

    MIL OSI Analysis – EveningReport.nz –