Category: Asia

MIL-OSI: Q1 update for the three months ended 30 April 2025

Source: GlobeNewswire (MIL-OSI)

ICG Enterprise Trust plc

24 June 2025

Q1 update for the three months ended 30 April 2025




	Highlights NAV per Share of 2,011p; LTM NAV per Share Total Return of 6.3% (5 year annualised: 14.8%) Q1 Portfolio Return on a Local Currency Basis of 0.6%, offset by FX, resulting in Portfolio Return on a Sterling Basis of (2.4)% and NAV per Share Total Return of (2.6)% Total Proceeds of £149m, including £62m net proceeds from the sale of a portion of our Portfolio at a 5.5% discount and £48m from sale of Minimax (previously our largest portfolio company holding)¹; Total New Investments of £48m £9m of buybacks during the quarter, adding 0.4% (8.4p) to NAV per Share Total Return Robust balance sheet: low gearing ratio (3%); €300m revolving credit facility extended to May 2029 Q1 dividend of 9p per share; Board intends to pay total dividends of at least 38p per share for FY26 (FY25: 36p) Secondaries are offering some compelling investment opportunities ¹ As announced in April 2025, and includes £3m of further Minimax proceeds received in late April 2025

PERFORMANCE OVERVIEW
			Annualised
Performance to 30 April 2025	3 months	1 year	3 years	5 years	10 years
Portfolio Return on a Local Currency Basis	0.6%	10.3%	8.4%	17.8%	15.1%
NAV per Share Total Return	(2.6)%	6.3%	6.3%	14.8%	13.4%
Share Price Total Return	(12.5)%	(0.9)%	4.4%	12.6%	10.3%
FTSE All-Share Index Total Return	(1.2)%	7.5%	7.0%	10.9%	5.8%

Portfolio activity overview for Q1 FY26	Primary	Direct	Secondary	Total	*ICG-managed*
Portfolio Return on a Local Currency Basis	0.3%	1.5%	(0.2)%	0.6%	1.4%
Portfolio Return in Sterling	(2.1)%	(2.0)%	(4.3)%	(2.4)%	(1.6)%
New Investments	£25m	£14m	£8m	£48m	£28m
Proceeds	£98m	£36m	£15m	£149m	£66m
New fund Commitments	£76m	£—m	£—m	£76m	£21m
Closing Portfolio value	£699m	£475m	£211m	£1,386m	£389m
% Total Portfolio	50%	34%	15%	100%	28%

ENQUIRIES

Institutional investors and analysts:         Martin Li, Shareholder Relations                        +44 (0) 20 3545 1816
Nathan Brown, Deutsche Numis                        +44 (0) 20 7260 1426
David Harris, Cadarn Capital                        +44 (0) 20 7019 9042
Media:                                        Clare Glynn, Corporate Communications, ICG        +44 (0) 20 3545 1850

COMPANY TIMETABLE

A presentation for investors and analysts will be held at 10:30 BST tomorrow (Wednesday 25 June 2025). A link for the presentation can be found on the Results & Reports page of the Company website. A recording of the presentation will be made available on the Company website after the event.

	FY26 First Interim Dividend
Ex-dividend date	14 August 2025
Record date	15 August 2025
Dividend payment date	29 August 2025

ABOUT ICG ENTERPRISE TRUST

ICG Enterprise Trust is a leading listed private equity investor focused on creating long-term growth by delivering consistently strong returns through selectively investing in profitable, cash-generative private companies, primarily in Europe and the US.

We invest in companies directly as well as through funds managed by Intermediate Capital Group plc (“ICG”) and other leading managers who focus on creating long-term value and building sustainable growth through active management and strategic change.

ICG Alternative Investment Limited, a regulated subsidiary of ICG, acts as the Manager of the Company.

NOTES
Included in this document are Alternative Performance Measures (“APMs”). APMs have been used if considered by the Board and the Manager to be the most relevant basis for shareholders in assessing the overall performance of the Company, and for comparing the performance of the Company to its peers and its previously reported results.

All performance figures are stated on a Total Return basis (i.e. including the effect of re-invested dividends).

DISCLAIMER
The information contained herein and on the pages that follow does not constitute an offer to sell, or the solicitation of an offer to acquire or subscribe for, any securities in any jurisdiction where such an offer or solicitation is unlawful or would impose any unfulfilled registration, qualification, publication or approval requirements on ICG Enterprise Trust PLC (the “Company”) or its affiliates or agents. Equity securities in the Company have not been and will not be registered under the applicable securities laws of the United States, Australia, Canada, Japan or South Africa (each an “Excluded Jurisdiction”). The equity securities in the Company referred to herein and on the pages that follow may not be offered or sold within an Excluded Jurisdiction, or to any U.S. person (“U.S. Person”) as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or to any national, resident or citizen of an Excluded Jurisdiction.

The information on the pages that follow may contain forward looking statements. Any statement other than a statement of historical fact is a forward looking statement. Actual results may differ materially from those expressed or implied by any forward looking statement. The Company does not undertake any obligation to update or revise any forward looking statements. You should not place undue reliance on any forward looking statement, which speaks only as of the date of its issuance.

MANAGER’S REVIEW

Our investment strategy

Within developed markets, we focus on investing in buyouts of profitable, cash-generative businesses that exhibit resilient growth characteristics, which we believe will generate long-term compounding returns across economic cycles.

We take an active approach to portfolio construction, with a flexible mandate that enables us to deploy capital in Primary, Direct and Secondary investments. Geographically we focus on the developed markets of North America and Europe, including the UK, which have deep and mature private equity markets supported by a robust corporate governance framework.

Investments managed by ICG accounted for 28% of the Portfolio.

	Medium-term target	Five-year average	Q1 FY26
1. Target Portfolio composition ¹
Investment category
Primary	~50%	56%	51%
Direct	~25%	29%	34%
Secondary	~25%	15%	15%
Geography
North America	~50%	43%	45%
Europe (inc. UK)	~50%	50%	49%
Other	—	7%	7%
1 As percentage of Portfolio

Performance overview

At 30 April 2025, the Portfolio was valued at £1,386m. The Portfolio Return on a Local Currency Basis for the quarter was 0.6%, and in Sterling terms was (2.4)%
ICG Enterprise Trust generated a NAV per Share Total Return of (2.6)% during the quarter, ending the period with a NAV per Share of 2,011p
Over the last five years ICG Enterprise Trust has generated an annualised NAV per Share Total Return of 14.8%

Movement in the Portfolio £m	3 months to 30 April 2025
Opening Portfolio¹	£1,523m
Total New Investments	£48m
Total Proceeds	£(149)m
Portfolio net cashflow	£(101)m
Valuation movement²	£9m
Currency movement	£(45)m
Closing Portfolio	£1,386m
1 Refer to the Glossary 2 86% of the Portfolio is valued using 31 March 2025 (or later) valuations.

NAV per Share Total Return	3 months to 30 April 2025
% Portfolio growth (local currency)	0.6%
% currency movement	(3.0)%
% Portfolio growth (Sterling)	(2.4)%
Impact of gearing	0.1%
Finance costs and other expenses	(0.4)%
Management fee	(0.3)%
Co-investment Incentive Scheme Accrual movement	0.1%
Impact of share buybacks	0.4%
NAV per Share Total Return	(2.6)%

Quoted company exposure

We do not actively invest in publicly quoted companies but gain listed investment exposure when IPOs are used as a route to exit an investment. In these cases, exit timing typically lies with the manager with whom we have invested
At 30 April 2025, ICG Enterprise Trust’s exposure to quoted companies was valued at £62.9m, equivalent to 4.5% of the Portfolio value (31 January 2025: 4.8%). There was one quoted investment that individually accounted for 0.5% or more of the Portfolio value:

Company	Ticker	30 April 2025 % of Portfolio value
Chewy	CHWY-US	1.8%
Other companies		2.7%
Total		4.5%

Realisation activity

Total Proceeds of £149m during the quarter, including £62m net proceeds from a sale of a portion of our Portfolio (see RNS here). The sale was executed at a discount of 5.5% to 30 September 2024 valuation and realised a 1.6x return on invested cost (15% IRR)
£48m (€57m) cash proceeds from realisation of Minimax, our largest portfolio company. ICG Enterprise Trust is reinvesting €10m alongside Management and other investors including certain ICG funds
45 Full Exits completed LTM, at a weighted average Uplift to Carrying Value of 15% and a 3.0x Multiple to Cost

New investment activity

Total New Investments of £48m during the quarter, of which 58% (£28m) was alongside funds managed by ICG
The split of Total New Investments was split by category as follows:

Investment Category	Cost (£m)	% of New Investments
Primary	£25m	52%
Direct	£15m	30%
Secondary	£8m	18%
Total	£48m	100%

Commitments

We made five new fund Commitments totalling £76.0m during the quarter:

Fund	Manager	Commitment during the period
		Local currency	£m
Integrum II	Integrum	$15.0m	£11.6m
GHO Capital IV	GHO	€15.0m	£12.4m
Hg Saturn IV	Hg	$20.0m	£15.4m
TH Lee X	THL	$20.0m	£15.9m
ICG Europe IX	ICG	€25.0m	£20.7m

At 30 April 2025 we had total Undrawn Commitments of £375m to funds in their investment period and a further £163m to funds outside their investment period

Balance sheet and liquidity

Total available liquidity at 30 April 2025 was £201.5m (31 January 2025: £124.6m)

	£m
Cash at 31 January 2025	3.9
Total Proceeds	148.7
New investments	(47.7)
Debt drawn down	(79.6)
Shareholder returns	(14.5)
Management fees	(4.2)
Co-investment Incentive Scheme distribution	(0.5)
FX and other income/(expenses)	1.4
Cash at 30 April 2025	7.5
Available undrawn debt facilities	193.9
Total available liquidity	201.5

The cash balance was £7.5m (31 January 2025: £3.9m) and drawn debt was £52.3m (31 January 2025: £131.9m). As a result, we had net debt of £44.8m (31 January 2025: £128.0m)
Maturity of our €300m revolving credit facility extended to 29 May 2029. All other key terms remain the same as per December 2024 RNS (available here)
At 30 April 2025, the Portfolio represented 104.2% of net assets (31 January 2025: 114.3%)

	£m	% of net assets
Portfolio	1,385.9	104.2%
Cash	7.5	0.6%
Drawn debt	(52.3)	(3.9)%
Co-investment Incentive Scheme Accrual	(52.1)	0.2%
Other net current liabilities	(10.9)	(1.0)%
Net assets	1,278.0	100.0%

Dividend and share buyback

Progressive dividend policy maintained: first quarter dividend of 9p per share (Q1 FY25: 8.5p)
It is the Board’s current intention to declare total dividends of at least 38p per share for FY26 (FY25: 36p)
The following purchases have been made under the Company’s share buyback programme:

	Long-term		Opportunistic		Total
	Q1 FY26³	Since inception¹	Q1 FY26³	Since inception²	Q1 FY26³	Since inception
Number of shares purchased	245,000	2,997,688	473,000	1,965,175	718,000	4,962,863
% of opening shares since buyback started						7.2%
Capital returned to shareholders	£3.1m	£35.7m	£5.8m	£24.1m	£8.9m	£59.8m
Number of days shares have been acquired	21	204	7	18	28	222
Weighted average discount to last reported NAV	36.3%	38.3%	38.7%	36.8%	37.9%	37.6%
NAV per Share accretion (p)					8.4	57.8
NAV per Share accretion (% of NAV)					0.4%	3.0%

1.Since October 2022 (which was when the long-term share buyback programme was launched) up to and including 30 April 2025.
2. Since May 2024 (which was when the opportunistic buyback programme was launched) up to and including 30 April 2025.
3. Based on company-issued announcements / date of purchase, rather than date of settlement.
Note: aggregate consideration excludes commission, PTM and SDRT.

Activity since the period end

Notable activity between 1 May 2025 and 31 May 2025 includes Realisation Proceeds of £1.5m and Total New Investments of £10.9m.

ICG Private Equity Fund Investments Team
24 June 2025

The MIL Network –

June 25, 2025

MIL-OSI: Wrap Technologies Announces Appointment of Gerald “Jerry” Ratigan as Chief Financial Officer

Source: GlobeNewswire (MIL-OSI)

MIAMI, June 24, 2025 (GLOBE NEWSWIRE) — Wrap Technologies, Inc. (NASDAQ: WRAP) (“Wrap” or, the “Company”), a global pioneer in innovative public safety technologies and services, today announced the appointment of Gerald “Jerry” Ratigan, seasoned finance executive, as the Company’s new Chief Financial Officer.

Mr. Ratigan brings over 20 years of experience leading financial strategy across public companies, capital markets, investment banking and performance-focused advisory roles. Mr. Ratigan’s background includes extensive work in both international and domestic publicly traded environments, where Mr. Ratigan has consistently driven financial modernization and organizational agility.

Mr. Ratigan has demonstrated exceptional ability in scaling finance operations, transforming reporting ecosystems and guiding companies through pivotal milestones—including M&A transactions and enterprise-wide digital transformations.

Mr. Ratigan’s diverse career spans Big Four public accounting, Fortune 500 audit leadership, and C-suite roles in high-growth sectors such as gaming, fintech, travel and entertainment. Most recently, Mr. Ratigan served as the Senior Vice President of Accounting and Controls—and later as Acting Chief Financial Officer—at The Gearbox Entertainment Company. In this role, Mr. Ratigan led financial operations through a critical phase that culminated in a successful acquisition by Take-Two Interactive.

Mr. Ratigan’s leadership encompassed building the finance function from the ground up, post-merger integration, ERP implementation, ESG reporting and consolidating multi-entity operations across geographies and currencies.

Prior to Gearbox, Mr. Ratigan served as Senior Director of Accounting and Financial Reporting at Entertainment Benefits Group (a Creative Artists Agency company), where Mr. Ratigan managed global accounting and audit operations. Mr. Ratigan also held Chief Accounting Officer and Chief Audit Executive roles at MoneyOnMobile, Inc. (MOMT), where Mr. Ratigan led public filings, investor communications and SEC compliance—supporting uplisting efforts and complex carve-outs related to divestitures.

Earlier in Mr. Ratigan’s career, Mr. Ratigan served as Director of SEC Financial Reporting at Prestige Cruise Holdings (acquired by Norwegian Cruise Line), overseeing public filings, XBRL tagging and IPO readiness. At Cooper Industries (later acquired by Eaton), Mr. Ratigan led internal audit efforts, implementing global audit strategies and streamlining post-acquisition integration.

Mr. Ratigan began his career at KPMG and Grant Thornton, quickly distinguishing with international assignments and national training roles. Mr. Ratigan’s global experience spans work in the U.S., Mexico, China, the U.K., India, Germany, Australia, Bahrain, Thailand and Sweden.

An advocate for ethics, compliance, and professional development, Mr. Ratigan currently serves on the Global Board of Directors for the Institute of Management Accountants (IMA), contributes to COSO’s new corporate governance framework, and sits on the Global Advisory Board of The CFO Alliance, offering insight on capital markets and economic trends.

Mr. Ratigan holds a Bachelor of Business Administration in Accounting and Finance from the University of Miami and an MBA in Data Analytics from Louisiana State University–Shreveport. Mr. Ratigan is a Certified Public Accountant (CPA) in Texas, a Certified Management Accountant (CMA), and holds credentials in Strategy and Competitive Analysis (CSCA) and Production and Inventory Management (CPIM).

“Across every role, Jerry has brought a distinctive blend of technical excellence, operational leadership and strategic vision. His work has consistently aligned financial operations with long-term value creation, enabled agility in complex environments, and driven measurable outcomes that build stockholder confidence and enterprise growth. We believe Jerry’s operational experience in capital markets and public accounting make him the right choice to align Wrap’s financial operations with its long-term strategy,” said Scot Cohen, Chief Executive Officer of Wrap.

“This appointment emphasizes Wrap’s readiness for accelerating adoption and growing market interest. We believe Jerry’s leadership will help drive product scale, ensure accountability, and position Wrap to maximize the commercial opportunities of its expanding portfolio,” said Jared Novick, President and Chief Operating Officer of Wrap.

“I am both honored and inspired to join Wrap at this defining moment,” said Mr. Ratigan. “The Company is delivering powerful solutions at the intersection of technology, public safety and compassion. I look forward to contributing to our mission while advancing a disciplined financial strategy that strengthens our foundation and creates sustainable stockholder value.”

Louis Springer Elevated to Vice President of Finance to Support Financial Operational Scale

Louis Springer’s promotion from Corporate Development to Vice President of Finance reflects both Wrap’s deep bench of internal talent and its disciplined focus on scaling operations with continuity and precision. Over the past 18 months, Mr. Springer played a central role in enacting the operational elements of Wrap’s cost-cutting initiatives and supporting broader organizational change. We believe his background in financial services, investment banking, and public company capital markets further strengthens Wrap’s ability to align day-to-day financial operations with long-term stockholder value creation.

“Louis Springer has proven himself over the years with Wrap,” said Chief Executive Officer of Wrap, Mr. Cohen. “He’s earned his spot as Vice President of Finance and will continue to anchor our fiscal strategy under Mr. Ratigan’s leadership—bringing both stability and forward momentum that we believe benefits all stakeholders.”

About Wrap Technologies, Inc.

Wrap Technologies, Inc. (Nasdaq: WRAP) a global leader in innovative public safety technologies and non-lethal tools, delivering cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

Wrap’s BolaWrap® 150 solution leads the world in pre-escalation and beyond, providing law enforcement with a safer choice for nearly every phase of a critical incident.

This innovative, patented device deploys a multi-sensory, cognitive disruption that leverages sight, sound and sensation to expand the pre-escalation period and give officers the advantage and critical time to manage non-compliant subjects before resorting to higher-force options. The BolaWrap® 150 is a not pain-based- compliance. It does not shoot, strike, shock, or incapacitate—instead, it helps officers strategically operate pre-escalation on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap’s commitment to public safety through cutting-edge technology and expert training.

Wrap Reality® VR is a fully immersive training simulator to enhance decision-making under pressure.

As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, Wrap Reality® equips officers with the skills and confidence to navigate high stakes encounters effectively, leading to safer outcomes for both responders and the communities they serve.

WrapVision is an all-new body-worn camera and evidence management system built for efficiency.

Designed for efficiency, security, and transparency to meet the rigorous demands of modern law enforcement, WrapVision captures, stores and helps manage digital evidence, with operational security, regulatory compliance and superior video picture quality and field of view.

The WrapVision camera, powered by IONODES boasts cloud integration and adheres to Trade Agreements Act (TAA) compliance requirements and GSA schedule contracts requirements. Crucially, unlike many competitor devices manufactured overseas in foreign, non-compliant, and possibly hostile regions, WrapVision is built in North America, promoting unparalleled data integrity and reducing critical concerns over unauthorized access or foreign surveillance risks.

Trademark Information

Trademark Information Wrap, the Wrap logo, BolaWrap®, Wrap Reality® and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders.

Cautionary Note on Forward-Looking Statements – Safe Harbor Statement

This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the Company’s expectations related to the appointment of the new Chief Financial Officer, the expected benefits of the acquisition of W1 Global, LLC, the Company’s ability to maintain compliance with the Nasdaq Capital Market’s listing standards; the Company’s ability to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Investor Relations Contact:
(800) 583-2652
ir@wrap.com

The MIL Network –

June 25, 2025
MIL-Evening Report: Fiji advocacy group slams Indonesian role in MSG as a ‘disgrace’

Asia Pacific Report

A Fiji-based advocacy group has condemned the participation of Indonesia in the Melanesian Spearhead Group which is meeting in Suva this week, saying it is a “profound disgrace” that the Indonesian Embassy continues to “operate freely” within the the MSG Secretariat.

“This presence blatantly undermines the core principles of justice and solidarity we claim to uphold as Melanesians,” said We Bleed Black and Red in a social media post.

The group said that as the new MSG chair, the Fiji government could not speak cannot credibly about equity, peace, regional unity, or the Melanesian family “while the very agent of prolonged Melanesian oppression sits at the decision-making table”.

The statement said that for more than six decades, the people of West Papua had endured “systemic atrocities from mass killings to environmental devastation — acts that clearly constitute ecocide and gross human rights violations”.

“Indonesia’s track record is not only morally indefensible but also a flagrant breach of numerous international agreements and conventions,” the group said.

“It is time for all Melanesian nations to confront the reality behind the diplomatic facades and development aid.

“No amount of financial incentives or diplomatic charm can erase the undeniable suffering of the West Papuan people.

“We must rise above political appeasement and fulfill our moral and regional duty as one Melanesian family.

“The Pacific cannot claim moral leadership while turning a blind eye and deaf ear to colonial violence on our own shores. Justice delayed is justice denied.”

‘Peaceful, prosperous Melanesia’
Meanwhile, The Fiji Times reports that the 23rd MSG Leaders’ Summit got underway on Monday in Suva, drawing heads of state from Fiji, Papua New Guinea, Solomon Islands, Vanuatu, and representatives from New Caledonia’s FLNKS.

Hosted under the theme “A Peaceful and Prosperous Melanesia,” the summit ended yesterday.

This year’s meeting also marked Fiji’s first time chairing the regional bloc since 1997.

Fiji officially assumed the MSG chairmanship from Vanuatu following a traditional handover ceremony attended by senior officials, observers, and dignitaries at Draiba.

Papua New Guinea’s Prime Minister James Marape arrived in Suva on Sunday and reaffirmed Papua New Guinea’s commitment to MSG cooperation during today’s plenary session.

He will also take part in high-level talanoa discussions with the Pacific Islands Forum’s Eminent Persons Group, aimed at deepening institutional reform and regional solidarity.

Observers from the United Liberation Movement for West Papua (ULMWP) and Indonesia were also present, reflecting ongoing efforts to expand the bloc’s influence on issues like self-determination, regional trade, security, and climate resilience in the Pacific.

MIL OSI Analysis – EveningReport.nz –

June 25, 2025
MIL-OSI: Matrixdock Expands Real-World Asset Tokenization to Include Silver, Platinum, and Palladium

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, June 24, 2025 (GLOBE NEWSWIRE) — Amid rising global demand for alternative precious metals, Matrixdock, the real-world asset (RWA) tokenization platform under the Matrixport Group, announces its strategic plan to expand beyond gold by introducing tokenized silver, platinum, and palladium. Following the success of its flagship gold-backed token, XAUm.This expansion plan represents Matrixdock’s next step toward bringing a full suite of precious metals on-chain, broadening access for institutions, corporates, and individuals through enhanced transparency and liquidity.

The new tokens will follow the same institutional-grade structure as XAUm, including a bankruptcy-remote setup, trusted vaulting partners, third-party reserve audits, on-chain transparency, and seamless DeFi integration. By expanding its product suite to include silver, platinum, and palladium, Matrixdock continues to bridge traditional commodities with blockchain-native finance, unlocking new possibilities for portfolio diversification, financial inclusion, and the evolution of next-generation capital markets.

“XAUm gold token was a groundbreaking step,” said Eva Meng, Head of Matrixdock. “With our secure vaulting network, trusted procurement network, and proven tokenization infrastructure already in place, silver, platinum, and palladium are natural next steps. We’re committed to expanding real-world assets on chain. Driven by strong demand for hard assets, year-to-date, silver has rallied 25%, a clear break-through long-held resistance above $35, while platinum has surged 44% amid tightening supply and industrial demand. “It’s meaningful to enable broader ownership of the full suite of precious metals and help level the playing field,” Meng added.

The tokenized gold XAUm launched by Matrixdock is one of the Top 3 gold tokens by chain adoption rate. It has been integrated with on-chain protocols such as UniSwap, PancakeSwap, Kinza Finance, etc., and supports dollar-cost averaging (DCA) to enable users to build a gold portfolio on a regular basis over time. Currently, Matrixdock manages 12,569 troy ounces of gold assets, each XAUm is backed by one troy ounce of 99.99% purity, London Bullion Market Association (LBMA) accredited gold.

About Matrixport

Founded in 2019, Matrixport is the world’s leading all-in-one hub for crypto financial services. The platform is committed to providing every user with a personalized Super Account that integrates crypto trading, investment, loan, custody, RWA, research, and more. With $6 billion in AUM (assets under management), Matrixport offers global users diverse crypto-financial solutions designed for optimal capital efficiency and sustainable returns.

Matrixport official website:：https://www.matrixport.com

About Matrixdock

Matrixdock is a premier platform under Matrixport Group that offers access to high-quality Real World Assets (RWA) through advanced tokenization technology. As the first in Asia to introduce a tokenized short-term treasury bill product, STBT, Matrixdock earned the Ecosystem Excellence TADS Award in 2023 for Trading & Liquidity Solutions. In 2024, Matrixdock launched XAUm, a tokenized gold asset fully backed by 99.99% purity gold, providing investors with a trusted and transparent digital asset linked to LBMA-accredited gold.

With a steadfast focus on building a trusted and secure RWA ecosystem for cryptocurrency, Matrixdock aims to provide diversified investment opportunities while setting new standards for trust and governance in the digital asset space.

Matrixdock official website: https://www.matrixdock.com/

Media Contact: Cici.Lu@matrixport.com

Disclaimer: This press release is provided by Matrixport. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector–including cryptocurrency, NFTs, and mining–complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/166d4d48-4294-4a8d-80f2-449bcee634cd

The MIL Network –

June 25, 2025

MIL-OSI: Primech AI, a Subsidiary of Primech Holdings, Expands to the Hong Kong Market Through a Strategic Partnership with ReMining Ai Ltd.

Source: GlobeNewswire (MIL-OSI)

SINGAPORE, June 24, 2025 (GLOBE NEWSWIRE) — Primech AI Pte. Ltd. (“Primech AI” or the “Company”), a subsidiary of Primech Holdings Limited (Nasdaq: PMEC), today announced the signing of a strategic partnership with Hong Kong-based ReMining Ai Ltd to expand the deployment of its revolutionary HYTRON autonomous bathroom cleaning robot to the Hong Kong market.

The companies formally established their collaboration through a signed Memorandum of Understanding (MOU), creating a framework for ReMining Ai Ltd to serve as Primech AI’s authorized agent in Hong Kong for two years.

“This partnership marks a significant milestone in our international expansion strategy,” said Mr. Charles Ng, Chief Operating Officer of Primech AI. “Hong Kong represents a key market with tremendous potential for our autonomous cleaning technology. By partnering with ReMining Ai Ltd, we gain a strong local presence with the expertise needed to successfully deploy and support our HYTRON robots across the region.”

Comprehensive Market Coverage

Under the terms of the agreement, ReMining Ai Ltd will manage all aspects of Primech AI’s operations in Hong Kong, including:

	●	Deployment and installation of HYTRON bathroom cleaning robots at customer facilities
	●	Provision of maintenance and technical support services
	●	Training of customer personnel on robot operation and basic troubleshooting
	●	Quality control monitoring to ensure performance standards
	●	Regular reporting on robot performance and market feedback

Mr. Hui Yuk Pan, Director of ReMining Ai Ltd, commented, “We are excited to partner with Primech AI to bring this cutting-edge cleaning technology to Hong Kong. The HYTRON robots address critical challenges in the facility services industry, including labor shortages and increasing hygiene standards. We look forward to introducing this innovative AI cleaning robot solution to commercial properties, shopping malls, airports, and other high-traffic venues across Hong Kong.”

“The Hong Kong expansion represents an important step in our growth strategy as we look to bring our AI-powered cleaning solutions to key markets across Asia,” said Mr. Kin Wai Ho, Chief Executive Officer of Primech Holdings. “By establishing strong partnerships with respected local operators like ReMining Ai Ltd, we can ensure our technology is deployed effectively while maintaining the highest standards of service and support.”

HYTRON is a fully autonomous, AI-powered bathroom-cleaning robot designed to revolutionize hygiene in high-traffic facilities. With advanced 3D-cleaning capabilities and electrolyzed water technology, HYTRON ensures consistent, high-quality cleaning while significantly reducing manual labor. The latest model features the cutting-edge NVIDIA Jetson Orin Super — a compact yet powerful System-on-Module (SoM) built for advanced-edge AI and robotics. This integration enables exceptional energy efficiency, real-time data processing, and intelligent navigation, making HYTRON a highly scalable and future-ready solution for smart facility management.

About ReMining Ai Ltd

ReMining Ai Ltd is a Hong Kong-based technology firm specializing in deploying and supporting advanced robotics and AI solutions. ReMining Ai operates from Cyberport, Hong Kong’s premier digital technology hub, and focuses on implementing innovative technologies across various sectors. For more information, visit www.reminingai.com.

About Primech AI

Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai.

About Primech Holdings Limited

Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

Company Contact:

Email: ir@primech.com.sg

Investor Relations Contact:

Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com

The MIL Network –

June 25, 2025

MIL-OSI: Primech AI, a Subsidiary of Primech Holdings, Expands to the Hong Kong Market Through a Strategic Partnership with ReMining Ai Ltd.

Source: GlobeNewswire (MIL-OSI)

Comprehensive Market Coverage

Under the terms of the agreement, ReMining Ai Ltd will manage all aspects of Primech AI’s operations in Hong Kong, including:

	●	Deployment and installation of HYTRON bathroom cleaning robots at customer facilities
	●	Provision of maintenance and technical support services
	●	Training of customer personnel on robot operation and basic troubleshooting
	●	Quality control monitoring to ensure performance standards
	●	Regular reporting on robot performance and market feedback

About ReMining Ai Ltd

About Primech AI

About Primech Holdings Limited

Forward-Looking Statements

Company Contact:

Email: ir@primech.com.sg

Investor Relations Contact:

Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com

The MIL Network –

June 25, 2025

MIL-OSI: Syncfusion® Partners with Devessence to Sponsor and Co-Host the 2025 TrailBlazor Conference

Source: GlobeNewswire (MIL-OSI)

RESEARCH TRIANGLE PARK, N.C., June 24, 2025 (GLOBE NEWSWIRE) — Syncfusion®, Inc., the enterprise technology provider of choice, today announced it will sponsor and co-host the 2025 TrailBlazor Conference with longtime partner Devessence. The free, virtual event streams live on Thursday, June 26, and brings together the global .NET community to explore the latest developments in Blazor, .NET MAUI, and Oqtane.

“TrailBlazor celebrates everything we love about the .NET ecosystem: open-source collaboration, community-driven learning, and practical tools that help developers get features into their users’ hands faster,” said Daniel Jebaraj, CEO of Syncfusion. “Partnering with Devessence allows us to connect developers with leading experts and highlight innovations like our open-source Syncfusion Toolkit for .NET MAUI—resources that empower developers at every stage of their journey.”

Now in its fifth year, TrailBlazor features keynotes and deep-dive sessions led by Microsoft engineers, .NET MVPs, and Syncfusion experts. The event also features live demonstrations of tools and techniques, including the open-source Syncfusion Toolkit for .NET MAUI and 1,900+ ready-made Syncfusion UI components. Interactive networking will be available via live chat and sponsor lounges.

Syncfusion Senior Product Manager Shriram Sankaran will open the conference with “Turn Data into Charts with AI & the Syncfusion Toolkit for .NET MAUI” from 8–9 a.m. EDT.

Registration is available at trailblazor.net, where attendees can view the full schedule and speaker biographies. For details on the extensive suite of Syncfusion developer tools, visit syncfusion.com.

About Syncfusion, Inc.
Headquartered in the technology hub of Research Triangle Park, N.C., Syncfusion, Inc.® delivers an award-winning ecosystem of developer control suites, embeddable BI platforms, and business software. Syncfusion was founded in 2001 with a single software component and a mission to support businesses of all sizes—from individual developers and start-ups to Fortune 500 enterprises. Though its pilot product, the Essential Studio® suite, has grown to over 1,900 developer controls, its mission remains the same. With offices in the U.S., India, and Kenya, Syncfusion prioritizes the customer experience by providing feature-rich solutions to help developers and enterprises solve complex problems, save money, and build high-performance, robust applications.

Contact: Brittany Kearns
Phone: 571-271-7211
Email: brittany@crossroadsb2b.com

The MIL Network –

June 25, 2025
MIL-OSI: SIOS Technology Announces Strategic Partnership with FCS InfoTech to Deliver High Availability and Disaster Recovery Solutions Across India and the GCC Region
Source: GlobeNewswire (MIL-OSI)

SAN MATEO, Calif., June 24, 2025 (GLOBE NEWSWIRE) — SIOS Technology Corp., a leading provider of application high availability (HA) and disaster recovery (DR) solutions, today announced a strategic partnership with FCS InfoTech, a rapidly growing IT solutions and services company based in India. The alliance is designed to empower enterprises across India and the GCC region, including Oman, with robust, cost-effective high availability and disaster recovery capabilities for critical applications.

“Our partnership with FCS InfoTech expands our footprint in a region where resiliency and uptime are essential to digital success,” said Masahiro Arai, Chief Operating Officer, SIOS Technology. “FCS brings deep regional knowledge and a strong track record in enterprise IT services, making them a trusted partner to deliver SIOS HA and DR solutions to businesses with mission-critical needs.”

With an extensive customer base and proven expertise in implementing enterprise IT solutions, FCS InfoTech will serve as a key channel and implementation partner for SIOS LifeKeeper and SIOS DataKeeper. These technologies provide seamless HA and DR protection for SAP, Oracle, SQL Server, and other critical workloads across cloud, hybrid, and on-premises environments.

“In today’s digital era, organizations are placing increased emphasis on IT resilience and uninterrupted service,” said Mr Vishal Upasham, CTO, FCS InfoTech.

The SIOS HA/DR software enables enterprises to:
- Protect critical applications with proven clustering and replication technologies
- Avoid unnecessary investments in costly SAN hardware or expensive application editions
- Achieve SLAs for uptime and disaster recovery with minimal operational complexity
- Benefit from local support and implementation from FCS’s certified experts
Together, SIOS Technology and FCS InfoTech are uniquely positioned to serve the growing demand for IT resiliency in a wide range of industries including finance, manufacturing, government, and energy across India and the Gulf Cooperation Council region.

About SIOS Technology Corp.
SIOS Technology Corp. high availability and disaster recovery solutions ensure availability and eliminate data loss for critical Windows and Linux applications operating across physical, virtual, cloud, and hybrid cloud environments. SIOS clustering software is essential for any IT infrastructure with applications requiring a high degree of resiliency, ensuring uptime without sacrificing performance or data, protecting businesses from local failures and regional outages, planned and unplanned. Founded in 1999, SIOS Technology Corp. (https://us.sios.com) is headquartered in San Mateo, California, with offices worldwide.

SIOS, SIOS Technology, SIOS DataKeeper, SIOS LifeKeeper, and associated logos are registered trademarks or trademarks of SIOS Technology Corp. and/or its affiliates in the United States and/or other countries. All other trademarks are the property of their respective owners.

About FCS InfoTech

FCS InfoTech is a leading IT infrastructure and services provider running for a decade with a strong presence in India and the GCC region by Mr. Amir Farooqui, CEO and Hammad Khan, CIO. Known for its strategic, innovative, and customer-driven approach, FCS InfoTech offers a broad portfolio of services across:
- Digital Transformation
- Cloud Computing & Migration
- Cyber Resiliency & Security
- Enterprise IT Managed Services
FCS InfoTech partners with public sector organizations, SMEs, companies to drive operational excellence, modernize legacy systems, and align IT infrastructure with long-term business goals.

Media Contact:

Beth Winkowski
Winkowski Public Relations, LLC for SIOS
978-649-7189
bethwinkowski@US.SIOS.com

The MIL Network –
June 25, 2025
MIL-OSI Africa: African leaders urge United States (U.S.) to embrace investment-driven partnerships and review tariffs

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African leaders have called on Monday for an urgent review of U.S. tariffs on African exports, urging a shift towards transformative partnerships and investment in Africa’s economic potential.

Addressing more than 2,000 government and business leaders, and other delegates at the U.S.-Africa business summit in the capital Luanda, Angolan President João Lourenço said: “It is time to replace the logic of aid with the logic of investment and trade.”

He urged U.S. companies to diversify beyond traditional oil and mineral extraction and invest in sectors such as automotive manufacturing, shipbuilding, tourism, cement production, and steel production.

African Union Commission Chairperson Mahmoud Ali Youssouf, added, “We’re not seeking aid, but building co-created solutions.” He called for the removal of punitive tariffs and visa restrictions, noting that Africa’s 1.3 billion people and abundant resources remain among the world’s most significant untapped economic opportunities.

“This should not just be a summit, but a call to action. Together, let’s walk the pathways to prosperity—with unity, purpose, and Agenda 2063 as our guide,” he told the summit.

In his remarks, African Development Bank Group President Dr. Akinwumi Adesina said, “We should review the high tariffs on African countries. What is needed is more trade between Africa and the U.S., not less.”

African Continental Free Trade Area (AfCFTA) Secretary General Wamkele Mene reinforced Africa’s integration agenda, highlighting the importance of open regional markets. “The undertaking of the AfCFTA is an ambitious one—It has to be ambitious,” Mene said. He emphasized that the success of AfCFTA is essential to scale investment, reduce fragmentation, and accelerate industrial development across the continent.

From rhetoric to action: Building real partnerships

The central message was clear: the era of aid dependency is over, and the time for transformative investment partnerships has arrived. The leaders called for bold, strategic investments to unlock Africa’s trillion-dollar potential.

Responding to the call for deeper engagement, U.S. officials acknowledged Africa’s growing economic importance and the need to reset perceptions. Senior State Department Bureau Official Troy Fitrell said, “There are business leaders in the U.S. who need to understand the opportunities that lie in doing business with Africa. Our mission going forward will be to find them—and bring them in.”

The U.S.-Africa Business Summit promotes economic cooperation and investment between the United States and Africa with a focus on fostering sustainable and inclusive economic growth. By bringing together leaders from government, business, and civil society, the summit provides a platform to discuss key issues and opportunities in the U.S.–Africa relations, ultimately driving growth and development on both sides.

Adesina pointed to the Lobito corridor as a concrete example of strategic investment already underway.

“That is why the African Development Bank is a key strategic partner with the U.S., Angola, and Zambia on the development of the Lobito corridor,” he said. This critical corridor will link the vast areas of Zambia and the Democratic Republic of the Congo to the port of Angola, improving mineral supplies, unlocking agricultural potential, and creating jobs.

The African Development Fund, the soft loan arm of the Bank Group, will be providing $500 million in support of the development of the Lobito Corridor. Additionally, the African Development Bank will provide $1 billion over five years for complementary investments around the corridor, including agricultural value chains, roads, and energy infrastructure.

Act on the data, not perceptions

The Bank President went further: “As we build transport corridors, let us also build strategic partnership corridors. Strategic partnerships that prioritize capital investments in infrastructure, agriculture, minerals industrialization, and development of digital infrastructure, as well as capital markets.”

He charged U.S. investors: “Act on the data, not perceptions. Think Africa. Think opportunities. Think competition. From the U.S. International Development Finance Corporation to the Export-Import Bank of the United States, as well as institutional investors and capital allocations, invest in Africa. Let’s make America and Africa great again.”

Corporate Council on Africa President Florie Liser challenged summit delegates to embrace true partnership: “Beyond deals, let’s strive for lasting transformation.” As part of the opening ceremony of the Summit, the Corporate Council on Africa honored Dr. Adesina with its Distinguished Economic Leadership Award, recognizing his significant contributions to Africa’s transformation.

Council Deputy Chairman, Mr. Jean Raymond Boulle, conferred the award, describing how the African Development Bank has impacted millions of Africans under Adesina’s leadership, while transforming the Bank to a world-class institution and a partner of choice.

Akinwumi Adesina, who will complete his second and final five-year term as President of the African Development Bank Group on 31 August, has led for the past decade transformative projects across Africa under the Bank’s five strategic priorities, the “High 5s”. They have positively impacted the lives of more than 565 million people on the continent.

Speaking at a high-level event hosted by Africa50, a pioneering infrastructure investment platform dedicated to accelerating project development and delivery across Africa, Adesina emphasized the urgent need to scale local financing solutions—especially in local currencies—to mitigate forex volatility, reduce risk mismatches, and enhance the bankability and stability of infrastructure projects for global investors.

The event, titled “Unlocking Capital for Africa’s Infrastructure through Innovative Finance,” featured a high-level panel discussion on asset recycling, moderated by CNN’s Richard Quest, with insights from Alain Ebobissé, CEO of Africa50; Brook Taye, Director General of Ethiopia Investment Holdings; and Armando Manuel, Chairman of Fundo Soberano de Angola.

Together, they explored how innovative models, such as asset recycling, can unlock capital and accelerate infrastructure development across Africa.

Alain Ebobissé stated that the asset recycling model has been successfully implemented in many countries worldwide.

“In implementing this initiative in Africa, we are pursuing three objectives. First, monetizing assets—ensuring that, instead of owning only a bridge, you receive cash that you can reinvest in your assets. Second, improving the efficiency of the asset by bringing in first-class operators to help us manage those assets. Third, and most importantly, we aim to bring pension funds and other investors interested in cash flow-generating assets to finance these projects,” Ebobissé explained.

Adesina said over the past decade, the African Development Bank Group has invested over $55 billion in infrastructure, including regional projects, making the Bank the largest financier of infrastructure in Africa.

The African Development Bank established Africa50 as a private equity infrastructure platform, comprising a project development company and a project finance company, to support the development of infrastructure with market-rate returns.

Africa’s missing share of a $2.9 trillion opportunity

The Bank President informed the audience that, in the past eight years since its establishment, Africa50 has invested in a portfolio of infrastructure projects worth over $8 billion.

“But more is needed, especially from private sector investors,” stated Adesina. “Africa should be well positioned to attract some of the $2.9 trillion global green bonds. However, the continent represents less than 1% of global green bond issuance. Because most of Africa’s infrastructure is yet to be built, this represents a huge opportunity for green bond issuances to build green infrastructure, reduce carbon emissions, and build climate resilience.”

The African Development Bank launched the Alliance for Green Infrastructure in Africa (AGIA) to mobilize $500 million for project preparation and development, as well as $10 billion for green infrastructure investments. Africa50 is the General Partner for the AGIA-Project Development Fund, with several Limited Partners, including the G7 countries.

To mitigate risks at scale across Africa, the African Development Bank is establishing the Africa Risk Mitigation Agency, which will consolidate all banks’ guarantee instruments into a single entity. The entity will support guarantees for equity risk, climate risk, refinancing risk, and political risk.

He emphasized that Africa50 is also pioneering asset recycling, enabling governments to recover their investment in infrastructure by transferring brownfield assets to the private sector. This can help to reduce debt burdens and provide liquidity for governments.

“The Senegambia bridge, which the African Development Bank financed with $104 million, was the first to be used for the asset recycling program. It worked successfully, as Gambia received $104 million it spent back through Africa50,” he added. “Following this, several asset recycling initiatives are being proposed for many infrastructure projects financed for governments by the African Development Bank Group.”

The renewed momentum for U.S.-Africa business partnerships received strong political backing, with the participation of seven Heads of State, several Prime Ministers, and leaders of key regional organizations.

Attending dignitaries included Presidents Denis Sassou Nguesso (Republic of the Congo), Faustin-Archange Touadéra (Central African Republic), Félix Antoine Tshisekedi Tshilombo (Democratic Republic of the Congo), Taye Aske Selassie (Ethiopia), Duma Gideon Boko (Botswana), Netumbo Nandi-Ndaitwah (Namibia), and Brice Clotaire Oligui Nguema (Gabon); Prime Ministers Gervais Ndirakobuca (Burundi), Robert Beugré Mambé (Côte d’Ivoire), Russell Mmiso Dlamini (Eswatini), Manuel Osa Nsue Nsua (Equatorial Guinea), Christian Louis Ntsay (Madagascar), and Deputy Prime Minister Nthomeng Justina Majara (Lesotho); as well as Mahamoud Ali Youssouf, Chairperson of the African Union Commission, Ambassador Gilberto Da Piedade Verissimo, Chairperson of the Economic Community of Central African States, and Elias M. Magosi, Executive Secretary of the Southern African Development Community.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media contact:
Emeka Anuforo
Communication and External Relations Department
media@afdb.org

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

MIL OSI Africa –

June 25, 2025
MIL-OSI Video: AMNC25 Chief Economists Briefing

Source: World Economic Forum (video statements)

The global economic outlook has darkened considerably, according to the World Economic Forum’s latest survey of chief economists.

Gain expert insights and actionable perspectives from leading chief economists on the outlook for global growth amid geopolitical uncertainty and technological disruption.

Speakers:

Paul Gruenwald, Global Chief Economist, S&P Global

Santitarn Sathirathai, Adviser, Future Economy, Thailand Development Research Institute (TDRI)

Aparna Bharadwaj, Global Leader, Global Advantage Practice; Managing Director and Senior Partner, Boston Consulting Group

Thomas Hale, Shanghai Correspondent, The Financial Times

This is the full audio from a session at the AMNC25 in Tianjin, China on 24 June, 2025.

Watch it here: https://www.weforum.org/meetings/annual-meeting-of-the-new-champions-2025/sessions/chief-economists-briefing-e127903824/

Catch up on all the action from AMNC25 at wef.ch/amnc25 and across social media using the hashtag #AMNC25.

Check out all our podcasts on wef.ch/podcasts (http://wef.ch/podcasts) :

YouTube: (https://www.youtube.com/@wef/podcasts) – https://www.youtube.com/@wef/podcasts

Radio Davos (https://www.weforum.org/podcasts/radio-davos) – subscribe (https://pod.link/1504682164) : https://pod.link/1504682164

Meet the Leader (https://www.weforum.org/podcasts/meet-the-leader) – subscribe (https://pod.link/1534915560) : https://pod.link/1534915560

Agenda Dialogues (https://www.weforum.org/podcasts/agenda-dialogues) – subscribe (https://pod.link/1574956552) : https://pod.link/1574956552

Join the World Economic Forum Podcast Club (https://www.facebook.com/groups/wefpodcastclub) : https://www.facebook.com/groups/wefpodcastclub

https://www.youtube.com/watch?v=JmciCRgCs7w

MIL OSI Video –

June 25, 2025
MIL-OSI Russia: Zou Jiayi elected president of AIIB

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, June 24 (Xinhua) — Zou Jiayi has been elected president of the Asian Infrastructure Investment Bank (AIIB) for a five-year term, the bank said Tuesday.

This is the third vote to head the AIIB since its establishment. The first AIIB President, Jin Liqun, will end his second term on January 15, 2026.

The AIIB is a multilateral development bank focused on financing “infrastructure for tomorrow” with sustainable development at its core. Launched in 2016, the AIIB currently has 110 approved members worldwide, according to the bank’s website. -0-

MIL OSI Russia News –

June 25, 2025
MIL-OSI Russia: Chinese Foreign Minister Meets Singapore Foreign Minister

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, June 24 (Xinhua) — Chinese Foreign Minister Wang Yi met with Singaporean Foreign Minister Vivian Balakrishnan in Beijing on Tuesday.

Wang Yi, also a member of the Politburo of the CPC Central Committee, said Chinese President Xi Jinping had just had a fruitful meeting with Singapore Prime Minister Lawrence Wong. He said China appreciated Singapore’s reaffirmation of the one-China principle and its unambiguous opposition to “Taiwan independence.”

China is willing to use the 35th anniversary of the establishment of diplomatic relations between China and Singapore as an opportunity to advance the implementation of the important agreements reached by the leaders of the two countries and the results of this visit, Wang added.

V. Balakrishnan, in turn, said that Singapore is ready to work with China, guided by a forward-looking strategic vision, to seize the opportunities offered by the development of new technologies and deepen cooperation in various areas such as the economy, trade, investment and connectivity. Singapore, together with other ASEAN countries and China, will adhere to the principles of openness and inclusiveness, and also defend multilateralism, he concluded. -0-

MIL OSI Russia News –

June 25, 2025
South Korea special prosecutor seeks arrest warrant for ex-President Yoon

Source: Government of India

Source: Government of India (4)

South Korea’s special prosecutor asked a court on Tuesday to issue an arrest warrant for former President Yoon Suk Yeol, an investigator said, as a probe intensified over the ousted leader’s botched bid to impose martial law.

Yoon, who is already facing a criminal trial on insurrection charges for leading the martial law declaration, was arrested in January after resisting authorities trying to take him into custody, but was released after 52 days on technical grounds.

The martial law attempt shocked a country that had prided itself on being a thriving democracy after overcoming military dictatorship in the 1980s and triggered a snap presidential election to pick Yoon’s successor amid bitter political infighting.

The new warrant is on a charge of obstruction, a senior member of the special prosecutor’s team of investigators said.

Yoon had refused to respond to summons for questioning as required under criminal procedures and investigators would “not get dragged around” by him, Park Ji-young, a deputy to the special prosecutor, told a televised briefing on YTN TV.

Lawyers representing Yoon said in a statement they had not been served a proper summons after the special prosecutor was appointed and that the former president would respond once it was served in a legal manner. Yoon had been under investigation by the police and the state prosecutors’ office on a number of charges stemming from the failed attempt in December to impose military rule.

In January, Yoon initially resisted an attempt by investigators trying to execute a court warrant for his arrest, holed up in the presidential residence while his security service led by officials loyal to him barricaded the gates.

The special prosecutor was appointed just days after liberal President Lee Jae-myung took office on June 4 after winning the snap election called after Yoon’s ouster in April and has launched a team of more than 200 prosecutors and investigators to take over ongoing investigations against Yoon.

Yoon is fighting the charges against him that include masterminding insurrection, which is punishable by death or life in prison, claiming he had declared martial law on December 3 to sound the alarm over the threat to democracy posed by the then-opposition Democratic Party.

(Reuters)

June 25, 2025
Russian missile attack kills nine, damages passenger train in southeast Ukraine

Source: Government of India

Source: Government of India (4)

A Russian missile attack on Ukraine’s southeastern Dnipropetrovsk region on Tuesday killed at least nine people, damaged civilian infrastructure and wounded dozens of train passengers, officials said.

The two-wave strike killed seven in the regional capital of Dnipro, said governor Serhiy Lysak, where the blast wave also shattered train carriage windows and showered passengers with broken glass.

Nearly 70 people including 10 children were injured, he said, adding the numbers could still rise. Two people were also killed in the town of Samar, around 10 kilometres (6 miles) from Dnipro, the state emergencies service said.

Ukrainian Foreign Minister Andrii Sybiha called on Kyiv’s Western partners to respond to the attack. NATO leaders are currently in The Hague for an alliance summit, where President Volodymyr Zelenskiy hopes to secure more military support against Russia’s full-scale invasionlaunched in 2022.

“It is a matter of credibility for allies to step up pressure on Moscow,” Sybiha wrote on X.

He added that schools, kindergartens and a hospital were also damaged in Dnipro. Officials did not provide details of damage in Samar.

Russia has stepped up air strikes on Ukraine in recent weeks, particularly its capital Kyiv, where 28 people were killed on June 17 in the deadliest such attack this year.

Another 10 people were killed in air attacks on Kyiv and the surrounding region on Monday.

(REUTERS)

June 25, 2025
Kremlin rejects charge it did little to help Iran

Source: Government of India

Source: Government of India (4)

The Kremlin on Tuesday pushed back against criticism that it had not done enough to back Iran, saying it had taken a “clear position” by condemning U.S. and Israeli strikes on the Islamic Republic.

President Vladimir Putin has condemned what he called “unjustified” U.S. attacks on nuclear sites in Iran, with which he signed a strategic cooperation treaty in January. He said on Monday that Russia would try to help the Iranian people, although he gave no specifics.

Iranian sources told media earlier this week that Tehran had not been impressed with Russia’s support so far.

Asked about comparisons to the toppling last year of Syrian leader Bashar al-Assad, when Moscow refused to send troops or more air power to keep its ally in power, the Kremlin said some people were trying to spoil the Russian-Iranian partnership.

“Russia actually supported Iran with its clear position,” Kremlin spokesman Dmitry Peskov said, adding that Iranian Foreign Minister Abbas Araqchi had appreciated Moscow’s stance when he met Putin on Monday.

It was still too early to assess the extent of the damage to Iran’s nuclear facilities, Peskov said.

“Some information is coming through the appropriate channels, but it is still too early,” Peskov said. “Hardly anyone has a clear understanding right now.”

Asked about a Reuters report that Araqchi had brought a letter to Putin from Supreme Leader Ayatollah Ali Khamenei, Peskov said there had been no written document handed over.

“The fact that there were certain messages from the Iranian leadership is true. But this Reuters report is not true,” Peskov said.

U.S. President Donald Trump announced on Monday a complete ceasefire between Israel and Iran, potentially ending the 12-day war that saw millions flee Tehran and prompted fears of further escalation in the war-torn region.

“If it has really been possible to achieve a ceasefire, then this can only be welcomed,” Peskov said, adding that Qatar had helped to broker the ceasefire.

“This is what the Russian Federation has been calling for since the very beginning of this conflict. Therefore, yes, this can and should be welcomed, and we hope that this will be a sustainable ceasefire.”

(Reuters)

June 25, 2025
Union Minister pays tribute to Kanishka bombing victims in Ireland on 40th anniversary

Source: Government of India

Source: Government of India (4)

Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, paid homage to the victims of the Air India Flight 182 tragedy at the Ahakista Memorial in Cork, Ireland, on Monday. The commemoration marked the 40th anniversary of the bombing of the Air India Kanishka flight, which claimed 329 lives on June 23, 1985.

Minister Puri signed the Visitors Book at the memorial and led a high-level delegation comprising senior legislators from Punjab, Jammu and Kashmir, Uttar Pradesh, Rajasthan, Uttarakhand and Delhi. The delegation represented the Government of India at the solemn commemoration event hosted by the Mayor of County Cork, Councillor Joe Carroll.

The event was attended by the Prime Minister of Ireland, Micheál Martin, and Canada’s Minister of Public Safety, Gary Anandasangaree. Families of the victims also joined the ceremony, held in the coastal village of Ahakista, where debris from the ill-fated flight had been found.

Speaking at the event, Minister Hardeep Singh Puri laid a wreath at the memorial and paid tributes to the victims. “The bombing of Air India AI 182, an act of terrorism, was a stain on humanity,” he said. He also acknowledged the support extended by the people of Ireland during the aftermath of the tragedy. “We pay tribute to the community of Ahakista and the people of Ireland for the spirit with which they rose to the occasion in solidarity with the families of the victims,” the Minister noted.

Canadian Minister Gary Anandasangaree said, “The bombing of Air India Flight 182, 40 years ago, remains the single worst act of terrorism and mass murder in Canadian history.” Irish Prime Minister Micheál Martin described the incident as “cruel and horrific,” stating that “the passing of time does not dim the scale of loss and that atrocity.”

As part of the visit, the Indian delegation also participated in a solemn ceremony organised at the Embassy of India in Dublin. The Minister addressed the gathering of victims’ families and members of the Indian diaspora, reiterating India’s unwavering support for the bereaved families.

Minister Puri emphasized the need for global unity in fighting terrorism. “India remains firm in its commitment to combating terrorism and calls for strong international cooperation and understanding on this global threat,” he said.

The Air India Flight 182, operating on the Montreal–London–Delhi route, was bombed mid-air by Canada-based Khalistani terrorist group Babbar Khalsa on June 23, 1985. The attack killed all 329 people on board, making it one of the deadliest aviation terror attacks in history.

June 25, 2025
10 years of AMRUT: A decade of urban transformation in India

Source: Government of India

Source: Government of India (4)

India marks a significant milestone as the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) completes 10 years since its launch on June 25, 2015. Introduced as a transformative initiative to improve the quality of life in urban areas, AMRUT has focused on delivering basic infrastructure and services—especially water supply, sewerage, urban mobility, and green spaces—to citizens across 500 cities and towns.

Over the past decade, AMRUT has redefined India’s urban development landscape. The Mission prioritized inclusive planning, targeting the urban poor with a strong focus on providing universal access to tap water and sewer connections. A notable feature was the allocation of up to 2.5% of project costs towards developing parks with amenities for children and the elderly, thereby enhancing the livability of cities.

A total of ₹77,640 crore worth of State Annual Action Plans (SAAPs) have been approved under AMRUT, with ₹35,990 crore committed as Central Assistance. Projects worth ₹79,401 crore have already been completed, and ₹72,656 crore has been expended. The Mission’s core areas—water supply, sewerage, septage management, stormwater drainage, non-motorized urban transport, and the development of green spaces—have brought about tangible change in urban India.

In the area of water supply, the Mission has facilitated the augmentation of water systems, treatment plants, universal metering, and the rejuvenation of water bodies. Special provisions have been made for difficult areas, including hilly and coastal regions. Similarly, sewerage projects have focused on underground networks, rehabilitation of old systems, and reuse of treated wastewater. Faecal sludge management and the mechanical cleaning of septic tanks and sewers have also been addressed to improve sanitation outcomes.

Stormwater drainage projects have reduced urban flooding, while the urban transport component supported the development of footpaths, ferry services, cycle tracks, and multi-level parking. Capacity-building programs have strengthened both institutional and individual capabilities within Urban Local Bodies (ULBs), enabling better governance and service delivery.

Building on the foundation of AMRUT, the government launched AMRUT 2.0 on October 1, 2021. The expanded version covers all ULBs across the country and aims to ensure water security and self-reliance. It seeks universal coverage of sewerage and septage management in the original AMRUT cities, with a total indicative outlay of ₹2.99 lakh crore, including a Central share of ₹76,760 crore over five years.

Under AMRUT 2.0, 3,568 water supply projects worth ₹1,14,220.62 crore have been approved, including 181 lakh new tap connections and 10,647 MLD of water treatment capacity. Additionally, 1,487 projects have been equipped with SCADA (Supervisory Control and Data Acquisition) technology for efficient monitoring.

In the sewerage and septage sector, 592 projects worth ₹67,607.67 crore have been approved, adding over 67.11 lakh new sewer connections and 6,739 MLD of sewage treatment capacity. Innovation has also been a key pillar, with the Technology Sub-Mission under AMRUT 2.0 shortlisting 120 start-ups for pilot projects across 82 cities.

Together, AMRUT and AMRUT 2.0 have sanctioned 14,828 projects worth ₹2,73,649 crore, of which works worth ₹1,12,368 crore have been physically completed. The total Central Assistance allocated is ₹1,02,786 crore, with ₹47,625 crore already disbursed. Over 2.03 crore households have been provided with tap water connections and 1.5 crore with sewerage connections. Additionally, 544 water bodies covering 9,511 acres have been rejuvenated.

Innovative initiatives like ‘AMRUT Mitra’ have engaged over 10,000 women from Self-Help Groups in monitoring and awareness activities. The ‘Drink from Tap’ initiative has seen 381 projects worth ₹23,490 crore sanctioned, likely to benefit 8 lakh households. More than 90,000 individuals—including contractors, plant operators, plumbers, youth, and officials—have been trained to support capacity-building across states.

As AMRUT completes a decade, it represents a paradigm shift in India’s urban development narrative—one that combines infrastructure growth with inclusivity, sustainability, and improved quality of life. With its strong foundation and the launch of AMRUT 2.0, the Mission continues to pave the way for resilient, future-ready cities that cater to the needs of all citizens.

June 25, 2025

MIL-OSI Banking: RBI to conduct 7-day Variable Rate Reverse Repo (VRRR) auction under LAF on June 27, 2025

Source: Reserve Bank of India

On a review of the current and evolving liquidity conditions, it has been decided to conduct a Variable Rate Reverse Repo (VRRR) auction on Friday, June 27, 2025, as under:

Sl. No.	Notified Amount (₹ crore)	Tenor (day)	Window Timing	Date of Reversal
1	1,00,000	7	10:00 AM to 10:30 AM	July 04, 2025 (Friday)

2. Further, on a review of evolving liquidity conditions, it has been decided not to conduct the 14-day main operation on Friday, June 27, 2025, for the ensuing fortnight.

3. The operational guidelines for the auction as given in the Reserve Bank’s Press Release 2019-2020/1947 dated February 13, 2020 will remain the same.

(Puneet Pancholy)
Chief General Manager

Press Release: 2025-2026/584

MIL OSI Global Banks –

June 25, 2025

MIL-OSI Asia-Pac: Online Workshop “Exploring Taiwan’s Digital Nomad Visa”

Source: Republic of China Taiwan

Taiwan has unveiled its Digital Nomad Visa, offering global talent a fresh opportunity to work remotely in a vibrant setting.
To promote this initiative and highlight Taiwan’s appeal for professionals, the National Development Council is hosting two online workshops. These sessions will cover eligibility, application procedures, and real-life insights from digital nomads in Taiwan. The first session targets Europe, while the second is tailored for Australia and New Zealand.
The Australia session is scheduled for July 11, 2025, at 11:30 AM (AEST). Join to explore Taiwan’s talent policies and TALENT TAIWAN services!
Registration:
https://docs.google.com/forms/d/e/1FAIpQLSeACc2Fjhfjtcxu7IKb-FK7Wy8MVBFdcE5F6GZhpFo3ZVMeMw/viewform

MIL OSI Asia Pacific News –

June 25, 2025
Nari Shakti Festival brings Mahabharata’s Draupadi to life on Dubai stage

Source: Government of India

Source: Government of India (4)

Dubai witnessed a vibrant celebration of Indian culture and women’s empowerment, as over 100 classical dancers performed Nari Shakti, a grand thematic dance spectacle that attracted a multinational audience of more than 2,000 both onsite and online. The production was entirely conceptualized, organized, and executed by women, with most props and costumes handmade. It was supported by several reputable organizations, including the Indian People’s Forum Cultural Council, Trescon, Indian Women in Dubai, Gulf Gelathiyaru, Karnataka Sangha Dubai, and UAE Tamil Sangam.

The production brought to life the story of Draupadi, a central figure in Mahabharata, dramatizing the war of Kurukshetra between the Kauravas and Pandavas. Through vivid costumes, dynamic choreography, and evocative narration, it conveyed the triumph of good over evil and the empowering strength of women. A highlight was Agni Kanye, an ambitious Bharatanatyam performance conceived by Guru Iswarya Bharadwaj, featuring 15 intergenerational acts with dancers aged five to fifty, celebrating the continuity and collaboration within the arts.

As part of the evening’s celebrations recognizing the contributions of women, the title of Nari Shakti was conferred on three women whose work and character embodied the spirit of feminine strength. The honourees were Karthika Vaidyanathan, a Carnatic singer and Filmfare Award winner; Puja Unni, a classical dancer; and Renuka Parameshwar, a Carnatic music teacher. They were honoured for their positive societal impact and for exemplifying the resilience and power symbolized by Draupadi.

Underlining the event’s inclusive spirit, the programme also featured performances by Divyangs alongside the main acts, highlighting the UAE’s ongoing commitment to fostering a tolerant and inclusive society where artistic expression transcends boundaries of age, nationality, and ability.The event reinforced Dubai’s growing stature as a global hub for culture and the arts. More than a platform for talent, the show served as a tribute to the UAE’s efforts to advance global artistic expression and provide spaces where creativity can thrive.The Nari Shakti festival demonstrated how cultural events can serve multiple roles, preserving traditional art forms, promoting cross-cultural harmony, and advancing social causes.

June 24, 2025
MIL-OSI Asia-Pac: HKSAR Search and Rescue Team and Inter-departmental Preparation Team for Kai Tak Sports Park Commissioning both awarded Chief Executive’s Award for Exemplary Performance

Source: Hong Kong Government special administrative region

     The Hong Kong Special Administrative Region (HKSAR) Government announced today (June 24) that the HKSAR Search and Rescue Team to quake-stricken areas in Myanmar in March 2025 and the Inter-departmental Preparation Team for Kai Tak Sports Park (KTSP) Commissioning were awarded a new round of the Chief Executive’s Award for Exemplary Performance.

     The Chief Executive, Mr John Lee, congratulated the two award-winning teams and expressed pride in their performance and contributions. He said, “The two award-winning teams reflected the outstanding competence of the civil service of the HKSAR and the efficiency of the Government, and exemplified Hong Kong’s second-place global ranking in the ‘Government efficiency’ factor of the World Competitiveness Yearbook 2025. All these have confirmed and reinforced my belief in driving result-oriented policies for the Government.”

     Congratulating the two award-winning civil service teams, the Secretary for the Civil Service, Mrs Ingrid Yeung, said, “The HKSAR Search and Rescue Team has demonstrated fearless professionalism and humanitarian care, while the Preparation Team for KTSP Commissioning has displayed efficient collaboration and precise planning of the civil servants. The two teams comprised outstanding civil servants across different departments and grades, who overcame numerous challenges and accomplished their tasks with utmost professionalism. I hope that this honour will inspire more colleagues to forge ahead and continue to serve the community with dedication.”

MIL OSI Asia Pacific News –

June 24, 2025
MIL-OSI: POET Signs Manufacturing Agreement with NationGate Solutions in Malaysia

Source: GlobeNewswire (MIL-OSI)

TORONTO, June 24, 2025 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Corporation”) (TSX Venture: PTK; NASDAQ: POET), a leader in the design and implementation of highly-integrated optical engines and light sources for artificial intelligence networks, today announced that it has signed a Master Agreement, Module Purchase Agreement and a Deed of Consignment with NationGate Solutions (M) Sdn. Bhd (“NationGate”), to manufacture optical engine assemblies for POET in Penang, Malaysia.

POET has engaged with NationGate to assemble and test consigned optical engines with a custom-designed fiber-attach unit (FAU) made specifically for one of POET’s key customers. That customer has confirmed a high level of interest from hyperscale data centers in a product that includes a combination of optical engines available exclusively from POET.

“We are thrilled to be engaged with POET, whose profile in Malaysia is increasingly prominent,” said Dato Ooi Eng Leong, CEO of NationGate Solutions (M) Sdn. Bhd., the largest electronics manufacturing services provider in Malaysia. “We share POET’s enthusiasm about a Malaysia-centered ecosystem for the manufacturing of advanced optoelectronics products to complement what we are already manufacturing for some of the largest AI network systems providers in the world.”

“The level of dedication to a shared mission that we see from our partners has far exceeded our expectations and confirms that our decision to focus manufacturing of Optical Interposer-based products in Malaysia was the best path for POET,” said Dr. Suresh Venkatesan, Chairman & CEO of POET Technologies Inc. “Through the relationships, talent and world-class facilities offered by our partners, POET is able to demonstrate the ability to scale manufacturing to the volumes demanded by our customers, bringing us that much closer to significant revenue generation in the near future.”

Update on Sample Shipments
The agreement with NationGate is in addition to the Company’s manufacturing agreement with Globetronics, which was announced in December of 2024. The Company confirmed that its operation in Globetronics had progressed to the point that it had, as of early June, shipped its order backlog of sample 800G optical engines to existing customers. The Company expects to ship its backlog of 1.6T samples during Q3 of 2025.

Both the Globetronics and NationGate facilities have initiated critical qualification processes. Once fully on-line, these facilities will ensure continuity and scalability in delivering POET’s high performance photonics solutions to global customers. Establishing a Malaysian manufacturing footprint is in direct response to increasing customer demand and the strategic need for POET to diversify and secure the Company’s supply chain. POET’s Optical Interposer-based Optical Engines and other assemblies are directed at applications in data centers, AI, high performance computing and telecom networks.

About POET Technologies Inc.
POET is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centers. POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET’s Optical Interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, self-contained “Edge” computing applications and sensing applications, such as LIDAR systems for autonomous vehicles. POET is headquartered in Toronto, Canada, with operations in, Shenzhen, China, Penang, Malaysia and Singapore. More information about POET is available on our website at www.poet-technologies.com.

About NationGate Holdings Sdn. Bhd. (0270.KL)
NationGate is Malaysia’s leading Electronics Manufacturing Services (EMS) Provider. Since its inception before 2010, NationGate has been providing electronics manufacturing services and technical support to (IoT) Internet of Things, Consumer electronics , Industrial Instrumentation, Data computing , Networking, Telecommunications , Medical , Automotive, Artificial Intelligence (AI) Equipment and Aerospace sectors. Our vision is to serve the various industrial sectors by providing the best alternative of choice to potential prospectus. Services provided by NationGate include complex and high speed SMT (Surface Mount Technology), COB (Chip On Flex/ Board), Final Assembly (Box Build), precision Plastic Moulding, Final Testing services and Advanced Laboratory Services.

Forward-Looking Statements
This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include the Corporation’s expectations with respect to its business partnership with NationGate, success of the Corporation’s product development efforts, the performance of its products, operations, meeting revenue targets, and the expectation of continued success in the financing efforts, the capability, functionality, performance and cost of the Corporation’s technology as well as the market acceptance, inclusion and timing of the Corporation’s technology in current and future products and expectations regarding its successful penetration of the Artificial Intelligence hardware markets.

Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, its expectations for the partnership with NationGate, the negotiations with contract manufacturers, the size, future growth and needs of Artificial Intelligence network suppliers, management’s expectations regarding the success and timing for completion of its development efforts, the introduction of new products, financing activities, future growth, recruitment of personnel, reorganization efforts, plans for and completion of projects by the Corporation’s consultants, contractors and partners, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, failure to receive necessary regulatory approvals for the Corporation’s arrangements with NationGate and Globetronics, the failure of Artificial Intelligence networks to continue to grow as expected, the failure of the Corporation’s products to meet performance requirements for AI and datacom networks, lack of sales in its products, lack of sales by its customers to end-users, operational risks in the completion of the Corporation’s projects, risks affecting the Corporation’s ability to complete its products, the ability of the Corporation to generate sales for its products, the ability of its customers to generate sales for products that incorporate the Corporation’s products, the ability to attract key personnel, the failure of its reorganization efforts and the ability to raise additional capital when needed. Although the Corporation believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Corporation’s securities should not place undue reliance on forward-looking statements because the Corporation can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Corporation assumes no obligation to update or revise this forward-looking information and statements except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel: 416-368-9411 – Fax: 416-322-5075

The MIL Network –

June 24, 2025
MIL-OSI: Pando and JBF Consulting Release 2025 Report on the State of AI in Logistics
Source: GlobeNewswire (MIL-OSI)

CHICAGO, June 24, 2025 (GLOBE NEWSWIRE) — Pando, a leading logistics AI company, and JBF Consulting, a leading logistics strategy advisory and technology integration firm, have released the inaugural edition of the State of AI in Logistics report. This new report provides in-depth insights into both the potential of AI as well as the challenges organizations face as they work to integrate it into their supply chain and logistics operations – beyond just a tool for incremental productivity improvements. While enthusiasm for AI is strong and investment continues to grow, most organizations are still in the early stages of adoption.

Based on in-depth interviews with supply chain leaders across industries, the study reveals a critical inflection point in AI adoption, exposing the disconnect between AI ambitions and practical implementation realities. To provide continued visibility into these trends, Pando and JBF Consulting will publish the report annually to provide a clear benchmark on the progress and impact of AI adoption across supply chain and logistics operations.

Key findings from the report include:
- 54% of companies remain in value discovery stages with regard to AI adoption within their logistics function.
- 91% have increased AI investments over the past 24 months, with 75% planning significant increases in the next two years.
- 83% cite data quality as their most significant technical barrier.
- 92% believe AI can help navigate ecosystem complexity in logistics.
“Supply chains no longer operate on a nine-to-five schedule; they move in real time, where a single disruption can overturn a company’s entire operations overnight,” said Abhijeet Manohar, CTO and co-founder of Pando. “In such a volatile, uncertain, complex, and ambiguous world, AI adoption in supply chain and logistics is no longer optional; it’s foundational to resilience. This report highlights how global supply chain teams are using AI every day to drive high-impact decision-making. Conversations with leaders across the industry have validated that early adopters want to pilot fast, provide value in weeks, and scale without the drag of traditional change management. This shift toward ‘rapid time to value’ is accelerating AI’s transformation from an aspirational goal into a real-time decision engine powering global logistics.”

“The logistics industry is at a pivotal moment, with next-generation AI set to fundamentally reshape how businesses operate and how people work,” said Mike Mulqueen, Executive Principal at JBF Consulting. “This report comes at a critical time, offering practical insights for industry leaders looking to integrate AI into their logistics strategies to stay ahead in a rapidly evolving environment. Successful AI implementation takes more than just integrating a new technology – it also depends on reliable data, clear objectives, and a willingness to change traditional processes. The organizations that approach AI as a strategic differentiator are poised to create a substantial competitive advantage.”

According to the State of AI in Logistics 2025 report, 38% of large enterprises now run dedicated data-science teams that build bespoke logistics-AI solutions and collaborate with specialist AI-first vendors. The once binary build-vs-buy debate has therefore matured into a pragmatic hybrid model. History shows what follows. When desktop PCs replaced ledgers, clerks became spreadsheet power-users; when the internet and cloud arrived, on-prem admins morphed into remote work orchestrators. AI agents represent the same kind of tipping point. Rather than eliminating jobs, they redefine them – freeing people to tackle higher-order exceptions, strategy, and customer innovation.

“What makes this moment different is the emergence of Agentic AI and AI systems that can operate autonomously within organizational guardrails, take proactive decisions, and collaborate with humans in real-time,” continued Manohar. “This is a significant leap from past AI applications that were largely behind the scenes in a support role. In the current supply chain climate, AI agents offer the kind of dynamic decision-making and adaptability that modern logistics demand.”

Looking ahead, the study also reveals that several key developments will shape the logistics industry:
- AI as a competitive edge: Organizations taking decisive action to implement AI solutions now, rather than waiting for ideal conditions, gain compounding advantages in data quality, institutional knowledge, and operational workflows.
- Human AI collaboration: Rather than complete replacement, we expect to see a reconfiguration of human roles to focus on judgment, creativity, and relationship management, with AI handling routine decisions and processes.
- AI adoption across ecosystems: Integration across the ecosystem will continue to intensify. AI capabilities will increasingly bridge organizational boundaries, enabling more seamless coordination across the fragmented logistics landscape.
The logistics landscape has never been more dynamic or challenging to navigate. Global disruptions, volatile markets, and elevated customer expectations create a complex operating environment that tests even the most sophisticated organizations. AI’s role in logistics is evolving rapidly, and those who understand how to harness its power will be more resilient, agile, and gain a distinct competitive advantage in today’s complex global supply chain. The State of AI in Logistics report offers essential insights and practical guidance to help companies navigate the complexities of AI adoption at any point on their AI journey.

Download the full 2025 State of AI in Logistics report to explore how AI can transform your supply chain and logistics operations at https://pando.ai/resources/industry-reports/state-of-ai-in-logistics-2025?utm_campaign=8220719-2025%20AI%20Agents&utm_source=press-release-global-newswire

About Pando
Pando is a global leader in AI-powered logistics technology and offers AI Agents for logistics, enabling manufacturers, distributors, and retailers to automate their logistics operations to build agility, control freight spend, and reduce carbon footprint. Trusted by Fortune 500 enterprises across North America, Europe, and Asia Pacific regions, Pando is pioneering the future of Autonomous Logistics with its AI Agents. Pando is recognized by Gartner as a Visionary, by the World Economic Forum (WEF) as a Technology Pioneer, by G2 as a Market Leader in Freight Management, and named one of the fastest-growing technology companies by Deloitte. For more information, visit www.pando.ai.

About JBF Consulting
JBF Consulting is a leading logistics strategy advisory and technology integration firm that partners with shippers to transform their logistics and supply chain execution operations. We empower clients to achieve operational efficiency and scalable, sustainable value through strategy development, roadmap orchestration, unbiased technology selection, expert implementation, data-driven insights, and ongoing managed services. For over two decades, our client-centric approach and partnerships with best-of-breed solution providers have ensured that every strategy and solution we deliver drives measurable impact, long-term success, and customer satisfaction. For more information, visit www.jbf-consulting.com.

Media Contacts
Courtney Meints
Skyya PR for Pando
pando@skyya.com

Caroline Proctor
JBF Consulting
Caroline.proctor@jbf-consulting.com
240-401-5315

The MIL Network –
June 24, 2025
MIL-OSI: Lantronix Named the 2025 Industrial IoT Company of the Year by Leading Market Research Firm CompassIntel

Source: GlobeNewswire (MIL-OSI)

IRVINE, Calif., June 24, 2025 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global leader of compute and connectivity for IoT solutions enabling Edge AI Intelligence, today announced that Lantronix has been named the 2025 Industrial IoT Company of the Year by CompassIntel, a leading market research and advisory firm specializing in metrics-driven market intelligence and insights for the mobile, IoT and high-tech industries.

The 13^th annual CompassIntel Awards honor companies, vendors and organizations that have demonstrated innovation, leadership, disruption and excellence in the mobile, IoT, business tech and emergency technology industries. Winners were chosen by a panel of industry-leading press, editors, journalists, thought leaders and analysts.

“We are honored to receive the 2025 Industrial IoT Company of the Year Award from CompassIntel. At Lantronix, we are dedicated to driving innovation and accelerating our customers’ success by equipping them with cutting-edge IoT technologies and services that propel them into the future,” said Saleel Awsare, CEO and president of Lantronix Inc. “Our long-term partnership with Qualcomm and other key industry leaders allows us to create and deliver groundbreaking IoT solutions, enabling our customers to leverage the power of Edge AI Intelligence.”

“As we celebrate the 13th Annual CompassIntel Awards, we honor the trailblazers and visionaries shaping the future of technology and innovation. These recipients, including Lantronix, represent the best in their fields, pushing boundaries and driving transformation across industries,” said Stephanie Atkinson, CEO & founder of Compass Intelligence.

About Compass Intelligence

Compass Intelligence is a market research and advisory firm specializing in metrics-driven market intelligence and insights for the mobile, IoT, and high-tech industries serving tech clients for more than 17 years. Compass Intelligence provides executive insights, market sizing/forecasting and modeling, competitive analysis, strategic consulting, advisory services, trending analysis, and survey research services. Compass Intelligence helps guide strategic business decisions and supports in the success of our clients through delivering content engagement, go to market planning, competitive positioning, and strategic advisory. For more information, please visit https://www.compassintel.com.

About Lantronix

Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth markets, including Smart Cities, Enterprise and Transportation. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that enable AI Edge Intelligence. Lantronix’s advanced solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

For more information, visit the Lantronix website.

©2025 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements related to Lantronix products or leadership team. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 9, 2024, including in the section entitled “Risk Factors” in Item 1A of Part I of that report, as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. In addition, actual results may differ as a result of additional risks and uncertainties about which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the Nasdaq Stock Market LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.

Lantronix Media Contact:

Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com

Lantronix Analyst and Investor Contact:
investors@lantronix.com

The MIL Network –

June 24, 2025
Wi-Fi sector projected to hit $22 billion by 2035, says Jyotiraditya Scindia

Source: Government of India

Source: Government of India (4)

Union Minister for Communications and Development of the Northeastern Region, Jyotiraditya Scindia, on Tuesday said India is fast becoming a global digital leader, with Wi-Fi expected to play a key role in bridging the digital divide. Speaking at a World Wi-Fi Day event organised by the Broadband India Forum in Delhi, Scindia called Wi-Fi an “invisible force capable of powering visible change.”

“Wi-Fi is not just about internet access; it’s about widespread inclusion,” the Minister said, adding, “Every hotspot must become a hope spot.”

Scindia noted that the Wi-Fi segment in India is projected to grow into a $22 billion industry by 2035, underscoring its transformative role in the country’s digital journey. He emphasised that connectivity today is no longer a luxury but a fundamental necessity — as crucial as access to capital and infrastructure was in the past.

Highlighting the government’s rural-first approach, Scindia said that India’s 5G use cases are being piloted in 13 villages across states like Andhra Pradesh and Madhya Pradesh, rather than beginning in urban centres. “We must light up every rural home, empower every aspiring mind, and fortify public services with the power of Wi-Fi,” he said.

The Minister also spoke of India’s strides in telecom technology, noting that the country has joined a select group of five nations that have developed their own 4G technology stack. This, he said, was achieved through collaboration between public and private sector players like CDOT, Tejas Networks, and Tata Consultancy Services (TCS).

“India today has become the leader of the digital world,” Scindia said, referring to the indigenous 4G stack developed domestically.

Citing data usage patterns, Scindia said India now accounts for 46 per cent of all digital transactions globally, outpacing the US, Europe, and China. He attributed this growth to India’s low-cost data model, which offers data at ₹9 per GB — far lower than the global average of $2.49.

He also lauded the PM-WANI (Wi-Fi Access Network Interface) initiative, calling it a “game-changer” in expanding internet access in rural and underserved regions. Scindia stressed the importance of deregulating spectrum to enhance access further, noting that the recent de-licensing of the 6 GHz band will enable faster, more affordable connectivity. Guidelines for this policy, he said, would be announced before Independence Day 2025.

Calling on the industry to innovate in the hardware space, Scindia cautioned that device affordability must not become the next barrier to connectivity. “Connectivity is not a commodity; it is an act of nation-building,” he said.

The Minister urged a collective reflection on the power of wireless connectivity. “It gives us the freedom to connect, to create, and to rise,” he said.

ANI

June 24, 2025
MIL-OSI United Kingdom: Panko & Sushi joins the line-up at Capital&Centric’s Goods Yard

Source: City of Stoke-on-Trent

Published: Tuesday, 24th June 2025

The buzz around social impact developer Capital&Centric’s Goods Yard is cranking up another notch, as Panko & Sushi gears up to bring its knockout Japanese flavours to the canalside neighbourhood.

They’re taking over a 1,650 sq ft commercial unit on the ground floor of the Goods Yard apartment building, ready to open their doors later this year.

This is all part of the plan for Goods Yard, Capital&Centric’s game-changing neighbourhood in Stoke-on-Trent. The development features 174 design-led rental homes, 30,000 sq ft of workspace and a stack of spaces for independent bars, restaurants, coffee shops and stores – all built around a lush, green public square that’s already become a new go-to spot for locals and visitors.

Founded by Edward Cayton, who has 27 years of experience in the hospitality industry and a passion for Japanese cuisine, Panko & Sushi is set to inject a fresh slice of contemporary Japan into the Goods Yard mix. Their move underlines the growing draw of this new neighbourhood, which also counts global property advisors Avison Young among its first tenants in the Pavilion building.

The developer recently threw open the doors to Goods Yard’s 174 apartments, with queues around the block as locals got their first look inside. Demand has been sky-high, with many of the homes already snapped up.

Tom Wilmot, Joint Managing Director at Capital&Centric, said: “Having Panko & Sushi choose Goods Yard shows how this new neighbourhood is already turning heads. Their energy and creativity fit perfectly with what we’re all about – bringing authentic, independent vibes to the heart of Stoke-on-Trent. We’re excited to see them add their own flavour to the mix and help make Goods Yard the city’s new social hub.”

Edward Cayton, founder of Panko & Sushi said: “We’ve always believed in finding neighbourhoods with real character and buzz, and Goods Yard has that in spades. There’s a great energy and community vibe here – it’s the perfect spot for Panko & Sushi to land in Stoke. We can’t wait to open our doors and start serving up fresh, flavour-packed dishes to our new neighbours.”

Councillor Finlay Gordon-McCusker, Cabinet Member for Transport, Infrastructure and Regeneration, Stoke-on-Trent City Council said: “This is more fantastic news – coming hot on the heels of the announcement that Cotton, an independent coffee shop and sandwich specialists are also opening at the Goods Yard.

“There is real interest both commercially and from people looking to move in and rent homes too. The development is a real centre piece for the regeneration of our city and it is creating exciting community-based opportunities, while delivering an economic boost.”

With commercial spaces ranging from 1,200 sq ft to 14,000 sq ft across The Vaults, Signal Box on Glebe Street, the new build Pavilion, and the industrial-style units on the ground floor of the apartment building, Goods Yard is quickly shaping up as the city’s place to be.

MIL OSI United Kingdom –

June 24, 2025
MIL-OSI Russia: Military parade in China to showcase domestically produced military equipment in active service

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, June 24 (Xinhua) — Domestic military equipment in active service with the People’s Liberation Army (PLA) will be on display at a military parade scheduled to be held in Beijing’s Tiananmen Square on Sept. 3, a military officer said at a press conference Tuesday.

On September 3, China will hold a military parade in Tiananmen Square in central Beijing to mark the 80th anniversary of the victory in the Chinese People’s War of Resistance Against Japanese Aggression and the victory in the World Anti-Fascist War.

The military parade will feature foot columns, military equipment columns and air echelons. It will feature new types of combat forces, including unmanned intelligent technology.

Major General Wu Zeke of the Joint Staff of the Central Military Commission (CMC) said the formations to be displayed at the military parade will clearly demonstrate the restructured composition of China’s armed forces as a result of recent military reforms.

According to him, the columns of military equipment at the military parade will demonstrate China’s latest achievements in the development of the military equipment system.

The military parade will reflect the new model of using PLA forces – unified command, coordinated operations and comprehensive support, as well as the country’s ability to independently innovate in weapons, the major general added.

The air echelons will highlight the systematic development of China’s air force combat capabilities and the rapid progress of modern strike power, Wu Zeke noted. -0-

MIL OSI Russia News –

June 24, 2025
MIL-OSI Russia: Kuomintang veterans who fought in the War of Resistance Against Japanese Aggression will be invited to the military parade on September 3

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, June 24 (Xinhua) — Veterans of the Kuomintang Party troops who fought in the Chinese People’s War of Resistance Against Japanese Aggression will be invited to attend the military parade in Tiananmen Square in Beijing scheduled for Sept. 3.

The military parade will be held as part of a series of events marking the 80th anniversary of the victory in the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War, a press conference announced on Tuesday.

As reported at the press conference, veterans of the military, labor and militia, as well as representatives of those who distinguished themselves in providing support to the front during the fight against the Japanese invaders, and relatives of the heroes who died in the war will be invited to watch the parade. -0-

MIL OSI Russia News –

June 24, 2025
MIL-OSI Russia: UN peacekeepers from China to take part in military parade on September 3

Translation. Region: Russian Federal

Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

Source: People’s Republic of China – State Council News

BEIJING, June 24 (Xinhua) — Chinese troops with experience in UN peacekeeping will take part in a military parade on Sept. 3 to mark the 80th anniversary of the victory of the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War, Wu Zeke, a spokesman for the Joint Staff of the Central Military Commission, told a press conference on Tuesday.

The decision not only underscores the solemnity of China’s celebration of the victory in the Chinese People’s War of Resistance Against Japanese Aggression and the World Anti-Fascist War, but also demonstrates the country’s commitment to fulfilling its international obligations and safeguarding world peace, Wu Zeke said.

He noted that in the 35 years since China joined UN peacekeeping operations, the Chinese military has sent more than 50,000 peacekeepers to more than 20 countries and regions around the world, carrying out 26 UN peacekeeping missions. A total of 17 Chinese servicemen have given their lives for world peace, he added.

According to Wu Zeke, Chinese peacekeepers have always demonstrated courage and professionalism in the face of armed conflicts, pandemic outbreaks or natural disasters, faithfully carrying out their missions to safeguard peace and stability – from demining and ceasefire monitoring to escorting and conducting emergency rescue operations.

“The Chinese armed forces have always been a strong force fighting for world peace,” he concluded. -0-

MIL OSI Russia News –

June 24, 2025
MIL-OSI: KANZHUN LIMITED Announces Launch of Share Offer

Source: GlobeNewswire (MIL-OSI)

BEIJING, June 24, 2025 (GLOBE NEWSWIRE) — KANZHUN LIMITED (“BOSS Zhipin” or the “Company”) (Nasdaq: BZ; HKEX: 2076), a leading online recruitment platform in China, today announced the launch of its share offer of 30,000,000 Class A ordinary shares, comprising a Hong Kong public offering of initially 3,000,000 Class A ordinary shares (the “Hong Kong Public Offering”) and an international offering of initially 27,000,000 Class A ordinary shares (the “International Offering”, together with the Hong Kong Public Offering, the “Share Offer”), subject to reallocation and offer size adjustment.

The initial offer shares available for the Hong Kong Public Offering and the International Offering are subject to reallocation (including clawback). Additionally, the Company has an offer size adjustment option to increase the number of offer shares based on market demand up to an aggregate of 4,500,000 additional Class A ordinary shares, representing 15% of the initial offer shares. The offer size adjustment option may be exercised on or before the Price Determination Date (defined below).

The offer price for the Hong Kong Public Offering (the “Hong Kong Offer Price”) will be no more than HK$78.00 per Class A ordinary share (the “maximum Hong Kong Offer Price”). The offer price for the International Offering of the Share Offer (the “International Offer Price”) may be set higher than, or the same as, the maximum Hong Kong Offer Price. The Company will set the International Offer Price on or before July 2, 2025, Hong Kong time (the “Price Determination Date”), by taking into consideration, among other factors, the closing price of the ADSs on Nasdaq on the last trading day on or before the Price Determination Date. The final Hong Kong Offer Price will also be set on the Price Determination Date at the lower of the final International Offer Price and the maximum Hong Kong Offer Price.

The Share Offer is intended to further enhance the Company’s financial flexibility, broaden its shareholder base, improve stock liquidity, and support its healthy and sustainable development. The net proceeds from the Share Offer will be used in investment in technology and related infrastructure, the development of new business initiatives, strategic acquisitions or investment opportunities and for working capital and general corporate purposes.

Goldman Sachs (Asia) L.L.C. and Morgan Stanley Asia Limited (in alphabetical order) act as the overall coordinators for the Share Offer. Goldman Sachs (Asia) L.L.C., Morgan Stanley Asia Limited (in alphabetical order) and Huatai Financial Holdings (Hong Kong) Limited act as the joint global coordinators for the Share Offer. Goldman Sachs (Asia) L.L.C., Morgan Stanley Asia Limited (in alphabetical order), Huatai Financial Holdings (Hong Kong) Limited, Futu Securities International (Hong Kong) Limited and Tiger Brokers (HK) Global Limited act as joint bookrunners and joint lead managers for the Share Offer.

The International Offering is being made only by means of a preliminary prospectus supplement and the accompanying prospectus included in an automatic shelf registration statement on Form F-3 filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 16, 2022, which automatically became effective upon filing. The registration statement on Form F-3 and the preliminary prospectus supplement are available at the SEC website at: http://www.sec.gov.

The Share Offer is subject to market and other conditions, and there can be no assurance as to whether or when the Share Offer may be completed, or as to the actual size or terms of the Share Offer. This press release shall not constitute an offer to sell or the solicitation of an offer or an invitation to buy any securities of the Company, nor shall there be any offer or sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. This press release does not constitute a prospectus (including as defined under the laws of Hong Kong) and potential investors should read the prospectus of the Company for detailed information about the Company and the proposed Share Offer, before deciding whether or not to invest in the Company. This press release has not been reviewed or approved by the SEC, the Hong Kong Stock Exchange or the Securities and Futures Commission of Hong Kong.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements which are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of The Stock Exchange of Hong Kong Limited, in its interim and annual reports 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 but not limited to statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission and The Stock Exchange of Hong Kong Limited. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

About KANZHUN LIMITED

KANZHUN LIMITED operates the leading online recruitment platform BOSS Zhipin in China. The Company connects job seekers and enterprise users in an efficient and seamless manner through its highly interactive mobile app, a transformative product that promotes two-way communication, focuses on intelligent recommendations, and creates new scenarios in the online recruiting process. Benefiting from its large and diverse user base, BOSS Zhipin has developed powerful network effects to deliver higher recruitment efficiency and drive rapid expansion.

For more information, please visit https://ir.zhipin.com.

For investor and media inquiries, please contact:

KANZHUN LIMITED
Investor Relations
Email: ir@kanzhun.com

In China：

PIACENTE FINANCIAL COMMUNICATIONS
Helen Wu
Tel: +86-10-6508-0677
Email: kanzhun@tpg-ir.com

In the United States:

PIACENTE FINANCIAL COMMUNICATIONS
Brandi Piacente
Phone: +1-212-481-2050
Email: kanzhun@tpg-ir.com

The MIL Network –

June 24, 2025