NewzIntel.com

Category: China

  • MIL-OSI Asia-Pac: Housing Authority awards completion contract

    Source: Hong Kong Government special administrative region – 4

    The following is issued on behalf of the Hong Kong Housing Authority:
     
         The Hong Kong Housing Authority’s Building Committee and Tender Committee today (July 24) approved the award of the completion contract for construction of the Public Housing Development at Tung Chung Area 100, the Public Housing Development at Tuen Mun Area 29 West and the underground link of Pak Tin Estate redevelopment Phase 10. These three projects were previously carried out by Aggressive Construction Company Limited. The remaining works will be taken up by China Overseas Building Construction Limited.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Guangdong, Hong Kong, Macao Health, Animal and Plant Quarantine and Food Safety Control Meeting 2025 held online

    Source: Hong Kong Government special administrative region – 4

    The Guangdong, Hong Kong, Macao Health, Animal and Plant Quarantine and Food Safety Control Meeting 2025 was held online for two consecutive days and concluded today (July 24). Representatives from the three places shared experiences and exchanged views on various topics within the fields of health, animal and plant quarantine, and food safety control. The three places agreed to further strengthen exchanges and co-operation.

    Speaking at the meeting, the Permanent Secretary for Environment and Ecology (Food), Ms Irene Young, said that with the acceleration of the integration process of the Guangdong-Hong Kong-Macao Greater Bay Area, the movement of people, trade in goods, and economic interactions among the three places have become increasingly frequent. The governments of the three places have been working closely together in areas such as health, animal and plant quarantine, and food safety control, achieving significant results across various fields. The meeting enabled experts from the three places to exchange insights, taking the collaboration to new heights.

    The Controller of the Centre for Health Protection of the Department of Health, Dr Edwin Tsui, also said at the meeting that the meeting would further strengthen collaboration on health quarantine between Guangdong, Hong Kong and Macao. This will help build a robust cross-boundary public health protection system that safeguards the health and safety of people travelling to and from the three places, creating a “Healthy Bay Area”.

    Representatives from the Mainland and the Macao Special Administrative Region (SAR) attending the meeting included the Deputy Director General of the Guangdong Sub-Administration of the General Administration of Customs of the People’s Republic of China, Mr Feng Guoqing; the Acting Chairman of the Administration Committee on Municipal Affairs of the Municipal Affairs Bureau of the Macao SAR Government, Mr Mak Kim-meng; and the Director of the Centre for Disease Prevention and Control of the Health Bureau of the Macao SAR Government, Dr Leong Iek-hou.

    Other representatives from Hong Kong were the Director of Food and Environmental Hygiene, Mr Donald Ng; the Director of Agriculture, Fisheries and Conservation, Mr Mickey Lai; and Acting Controller of the Centre for Food Safety, Dr Yonnie Lam and Dr Terence Cheung.

    The Guangdong, Hong Kong, Macao Health, Animal and Plant Quarantine and Food Safety Control Meeting is held every two years.

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Zhejiang Jingkun Art Center (Kun Opera Troupe) to perform classic Kunqu plays and excerpts in Hong Kong in August (with photos)

    Source: Hong Kong Government special administrative region – 4

    The Chinese Culture Festival (CCF) 2025, organised by the Leisure and Cultural Services Department (LCSD), has invited Zhejiang Jingkun Art Center (Kun Opera Troupe) to present timeless masterpieces in Hong Kong in August, including their signature classic “Fifteen Strings of Cash”, the light-hearted comedy “The Lioness Roars”, and selected opera excerpts showcasing both civil and martial arts. The performances will feature acclaimed artists from the troupe’s Wan and Dai generations, demonstrating the enduring cultural vitality of Kunqu opera through generations of artistic heritage. This programme is also one of the programmes of the 13th Chinese Opera Festival (COF).

    　　Kunqu opera gained popularity in the Kunshan area of Suzhou during the Yuan and Ming periods. It has been described as “the mother of Chinese operas”, and was listed by UNESCO as one of the “Masterpieces of the Oral and Intangible Heritage of Humanity” in 2001. It is renowned for its elegant libretti commended for literary merit and delicate dance movements.

    　　Details of the three performances are as follows:

    “Fifteen Strings of Cash”
    ———————————————————
    Date and time: August 15 (Friday), 7.30pm

    　　Departing from Kunqu opera’s typical themes of scholar-beauty romance, “Fifteen Strings of Cash” recounts a mysterious murder case triggered by 15 strings of copper coins. This gripping tale follows Judge Kuang Zhong, who overturns a wrongful conviction and uncovers the true culprit, a cunning trickster named Lou Ashu (Lou the Rat). The excerpt “An Investigation in Disguise” features a masterful interplay between the laosheng (old male) and the chou (comic) roles, representing the pinnacle of operatic artistry. This play was first performed by the troupe’s Chuan-generation artists Zhou Chuanying and Wang Chuansong, and has been passed down through five generations over 70 years. The upcoming performance features Bao Chen and Tian Yang of the Wan generation in the lead, who uphold the legacy with this timeless classic.

    “The Lioness Roars”
    ———————————————————
    Date and time: August 16 (Saturday), 7.30pm

    　　As one of the rare light comedies in Kunqu opera, “The Lioness Roars” retains the elegance of Kunqu’s lyrical singing while infusing the scholar-beauty romance with a touch of mundane charm, making it a staple of the Kunqu repertoire. The play follows the story of Chen Jichang, a talented scholar who appears timid but deeply devoted to his wife Madam Liu (the Lioness of Hedong). She is portrayed as dominating and prideful, but never to the extent of being objectionable. Chen’s friend Su Dongpo tries to mediate but only adds fuel to their quarrels. Through the couple’s everyday squabbles, the play highlights the importance of family harmony. The play is one of the signature works of Kunqu master Wang Shiyu. Now, the troupe’s star duo Zeng Jie and Hu Ping of the Wan generation take on the roles of this quarrelsome yet loving couple, promising a performance of exceptional artistry.

    Traditional Opera Excerpts
    ———————————————————
    Date and time: August 17 (Sunday), 2.30pm

    　　The finale will present five opera excerpts drawn from classic masterpieces of Kunqu opera featuring “The Celestial Place” from “The Dream of Nanke” (one of Tang Xianzu’s “The Four Dreams at Linchuan” of Ming dynasty); “Cancelling the Birthday Celebrations” from the zaju play “The Pavilion of Chanting in the Wind” of Qing dynasty; “Rendezvous at the Pavilion” from the chuanqi “Red Pear Blossom” of Ming dynasty; “Entrusting His Son” from “The Beauty Washing Silk by the River”, the earliest chuanqi in Kunqu; and the spectacular martial piece “Fighting on the Water” from “Leifeng Pagoda”. This programme combines both civil and martial pieces, with the troupe’s outstanding actors demonstrating their exceptional artistry, which makes the performance a must-see for opera enthusiasts.

    　　Zhejiang Jingkun Art Center (Kun Opera Troupe) was established in 2019 through the merger of Zhejiang Kunqu Opera Troupe and Zhejiang Peking Opera Troupe. The Zhejiang Kunqu Opera Troupe, founded in 1956, brought Kunqu opera back into the national spotlight when it adapted the traditional play “Dream of Two Bears” into “Fifteen Strings of Cash”. This production became a landmark in Chinese opera reform, with People’s Daily publishing an editorial, hailing it as “a single play that revived an entire genre”. The success spurred the establishment of Kunqu troupes across China. Over the years, the troupe has nurtured outstanding talents, maintaining a lineage of six generations of performers, namely Chuan, Shi, Sheng, Xiu, Wan and Dai. It has also produced numerous award-winning works, earning widespread recognition.

    　　The three performances will be held at the Auditorium of Ko Shan Theatre New Wing. Lyrics and dialogue are with Chinese and English surtitles. Tickets priced at $250, $350 and $450 are now available at URBTIX (www.urbtix.hk). For telephone bookings, please call 3166 1288. Group booking discounts and package booking discounts are available for purchasing selected CCF stage programmes, the “Chinese Opera Film Shows” of the COF 2025 and the “Legacy and Vision: Conversations with Chinese Cultural Masters” lecture. For programme enquiries and concessionary schemes, please call 2268 7325 or visit www.ccf.gov.hk/en/programme/zhejiang-jingkun-art-center-kun-opera-troupe.

    　　The programme will also feature two Kunqu opera masterclasses (in Putonghua), with actors Hu Ping and Zeng Jie to share the crafting of Dan (female) roles and Sheng (male) roles in Kunqu respectively. The two sessions will be held at 2pm and 4pm on August 14 (Thursday) at AC2, Level 4, Administration Building, Hong Kong Cultural Centre. In addition, a meet-the-artists session entitled “Six Generations of Kunqu Performers: The Sustaining Growth of the Zhejiang Kunqu Opera Troupe” (in Putonghua and Cantonese) will be held at 7.30pm on the same day at the same venue. The speakers include Gu Jiong, Bao Chen, Zeng Jie, Hu Ping and Tian Yang, while Chinese opera researcher Chan Chun-miu will be the moderator. Additionally, a demonstration talk entitled “Kunqu Classics as a Living Tradition” (in Putonghua) will be held at 5pm on August 18 (Monday) at the Theatre, Block I, Jao Tsung-I Academy. The speakers include actors Wu Xinyi and Wang Hengtao. Admission is free. Since the quotas for online registration are full, those who are interested may wait at the venue’s entrance for a standby quota on the day of the session. Any unclaimed spots will be released 10 minutes after the session begins on a first-come, first-served basis.

    　　The CCF, presented by the Culture, Sports and Tourism Bureau and organised by the Chinese Culture Promotion Office under the LCSD, aims to promote Chinese culture and enhance the public’s national identity and cultural confidence. It also aims to attract top-notch artists and arts groups from the Mainland and other parts of the world for exchanges in Chinese arts and culture. The CCF 2025 is held from June to September. Through different performing arts programmes in various forms and related extension activities, including selected programmes of the COF, “Tan Dun WE-Festival”, film screenings, exhibitions, as well as community and school activities and more, the festival provides members of the public and visitors with more opportunities to enjoy distinctive programmes that showcase fine traditional Chinese culture, thereby facilitating patriotic education and contributing to the inheritance, transformation and development of traditional Chinese culture in Hong Kong. For more information about programmes and activities of the CCF 2025, please visit www.ccf.gov.hk.

    MIL OSI Asia Pacific News –

  • MIL-OSI: Nano Labs Appoints Ms. Can Yang as Senior Vice President of Subsidiary Nano bit to Oversee Execution of Digital Currency Strategic Reserves and Strengthen BNB Reserve Capabilities

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, July 24, 2025 (GLOBE NEWSWIRE) — Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading Web 3.0 infrastructure and product solution provider in China, today announced the appointment of Ms. Can Yang as senior vice president of its wholly-owned subsidiary, Nano bit HK Limited (“Nano bit”). Ms. Yang will be responsible for leading the execution of Nano bit’s digital currency strategic reserves initiatives and supporting its steady and sustainable growth within the global crypto financial ecosystem.

    Ms. Yang brings more than 15 years of experience in finance and investment, spanning both fields of Web2 industries and crypto assets sector. Since 2018, she has been a founding partner at Aquarius Capital, overseeing a $600M+ Bitcoin liquidity fund. In this role, she led direct investments and liquidity provisioning for projects across Layer 1 ecosystems—including but not limited to Sui, Sei, Base, and Babylon.

    Prior to entering the crypto industry, Ms. Yang held several senior roles in the traditional financial sector. From 2016 to 2018, she served as investment director at Hanfor Capital Management Ltd., where she participated in the B round of financing of NIO Inc. and successfully exited upon its IPO. From 2012 to 2016, she served as a senior investment manager at a leading aerospace investment firm, where she participated in billion-dollar fundraising initiatives and managed billion-RMB funds. Earlier in her career, from 2008 to 2010, she worked at Deloitte, contributing to high-profile projects for clients including top-tier companies in the infrastructure, conglomerate, and aviation sectors, and participated in annual and internal control audits for several publicly listed companies.

    Dr. Jianping Kong, Chairman and CEO of Nano Labs, commented on the appointment, “We believe Ms. Yang will bring significant expertise to enhance the professionalism and foresight of the Company’s financial management, international compliance, and asset allocation strategies. Her leadership will be instrumental in optimizing our asset-liability structure, improving capital efficiency and strengthening our BNB reserve capabilities. Furthermore, she will help deepen our participation in the global crypto financial market to achieve long-term, stable value creation.”

    Ms. Yang stated: “It is a great honor to join Nano Labs, a company with a strong vision and outstanding execution. I look forward to contributing to our capital operations and advancing our crypto asset strategies.”

    As of now, the Company has accumulated approximately 120,000 BNB.

    About Nano Labs Ltd

    Nano Labs Ltd is a leading Web 3.0 infrastructure and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips and high performance computing (“HPC”) chips. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. In addition, Nano Labs has actively positioned itself in the digital assets space, adopting BNB as its primary reserve asset. It has reserved in mainstream digital currencies including BNB and BTC, and established an integrated platform covering multiple business verticals, including HTC solutions and HPC solutions*. For more information, please visit the Company’s website at: ir.nano.cn.

    * According to an industry report prepared by Frost & Sullivan.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s plan to appeal the Staff’s determination, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

    For investor inquiries, please contact:

    Nano Labs Ltd
    ir@nano.cn

    Ascent Investor Relations LLC
    Tina Xiao
    Phone: +1-646-932-7242
    Email: investors@ascent-ir.com

    The MIL Network –

  • MIL-OSI Europe: Briefing – Developing countries’ vulnerabilities to the changes of US foreign aid policy under the second Trump administration – 24-07-2025

    Source: European Parliament

    The dismantling of the US Agency for International Development (USAID) by the second Trump administration in 2025 marked a significant shift in US foreign policy. US national interests were prioritised over multilateral development and humanitarian aid, with the decision described by the Trump administration as an alignment of aid with US values. The European Union (EU) and its Member States cannot fully offset these cuts, which will most dramatically affect funding for global health, food security and crisis response. In the past, US and EU approaches to aid targeted different ends: while the EU has focused on sustainable development and peace building, the US emphasised crisis-driven aid. Potential consequences of the US cuts include increased migration, disease proliferation and geopolitical shifts, as China and Russia expand their influence.

    MIL OSI Europe News –

  • MIL-OSI Russia: Chinese Premier Li Qiang to Attend World Conference on Artificial Intelligence and Conference on Global AI Governance

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    BEIJING, July 24 (Xinhua) — Chinese Premier Li Qiang will attend and deliver a speech at the opening ceremony of the 2025 World Conference on Artificial Intelligence and the High-Level Conference on Global Governance of Artificial Intelligence in Shanghai on July 26, a Chinese Foreign Ministry spokesperson announced Thursday. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: All those on board the An-24 in Russia’s Amur Region are believed to have died, according to preliminary data.

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Vladivostok, July 24 (Xinhua) — All those on board the An-24 plane that crashed in Russia’s Amur Region have been killed, according to preliminary information, TASS reported, citing emergency services.

    Today at about 13:00 /07:00 Moscow time/ contact was lost with the crew of the An-24 aircraft of the Angara Airlines /Irkutsk/, which was flying Khabarovsk – Blagoveshchensk – Tynda. While approaching the Tynda airport, the aircraft went into a second approach, after which contact with it was lost. The wreckage of the missing An-24 passenger aircraft was found on a mountain slope 16 km from Tynda.

    As Vasily Orlov, governor of the Amur region, wrote on his Telegram channel, according to preliminary data, there were 43 passengers on board the plane, including five children, and six crew members. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Li Qiang: As long as China and the EU faithfully uphold free trade, the world economy and trade remain dynamic

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Xinhua | 24.07.2025

    Keywords: China

    Source: Xinhua

    Li Qiang: As long as China and the EU faithfully uphold free trade, the world economy and trade will remain dynamic Li Qiang: As long as China and the EU faithfully uphold free trade, the world economy and trade will remain dynamic

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: China and the EU have a wide range of common interests and no fundamental differences – Premier of the State Council of China

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Xinhua | 24.07.2025

    Keywords: China

    Source: Xinhua

    China and the EU have a wide range of common interests and no fundamental differences, says Premier of the State Council of China China and the EU have a wide range of common interests and no fundamental differences, says Premier of the State Council of China

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Lightning: 11 civilians, one soldier killed in Cambodia clashes – Thai health minister

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Xinhua | 24.07.2025

    Keywords: Thailand-Cambodia

    Source: Xinhua

    Lightning: 11 civilians, one soldier killed in clashes with Cambodia – Thai health minister Lightning: 11 civilians, one soldier killed in clashes with Cambodia – Thai health minister

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI China: Announcement on Open Market Operations No.141 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.141 [2025]

    (Open Market Operations Office, July 24, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB331 billion through quantity bidding at a fixed interest rate on July 24, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB331 billion

    RMB331 billion

    Date of last update Nov. 29 2018

    2025年07月24日

    MIL OSI China News –

  • MIL-OSI: Aurora Mobile CEO Comments on Robinhood CEO’s Crypto Remarks

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, July 24, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today issued a statement from its CEO, Mr. Luo Weidong, commenting on recent remarks made by Vlad Tenev, the CEO of Robinhood Markets Inc., regarding the cryptocurrency space.

    In a recent earnings call and media interviews, Vlad Tenev expressed optimism about the future of crypto assets and its potential as a mainstream asset for diversification. He also mentioned the tokenization of companies (public or private) shares and/or options for possible future trading and transactional purposes.

    Mr. Luo Weidong of Aurora Mobile commented, “At Aurora Mobile, we closely monitor the developments in the financial technology and digital asset space. Vlad Tenev’s perspectives on the growing attractiveness of crypto assets align with the broader market trends we are observing. The growing acceptance of cryptocurrencies, particularly Bitcoin and Solana, as tools for diversification, is a sign of the evolving financial landscape.”

    While Aurora Mobile is not directly involved in the cryptocurrency trading space like Robinhood, the Company has been a pioneer in leveraging big data and artificial intelligence to provide valuable insights and solutions across multiple industries. “Our expertise lies in aggregating, cleansing, and analyzing vast amounts of real-time and anonymous mobile behavioral data at the device level. This data-driven approach allows us to offer actionable insights to our clients in sectors ranging from finance to retail,” Mr. Luo added.

    “Just as the cryptocurrency market is evolving, our services are designed to adapt to the dynamic needs of our clients. Transparency and providing users with valuable information, principles that Robinhood is emphasizing in the crypto space, are also core to our mission at Aurora Mobile,” Mr. Luo continued.

    Aurora Mobile has long been a trusted partner to many major internet companies and leading consumer brands. “We are committed to leveraging our technology and data capabilities to contribute to the digital transformation of businesses, much like the efforts in the cryptocurrency space to make digital assets more accessible and user-friendly,” concluded Mr. Luo.

    As the financial technology landscape continues to evolve, Aurora Mobile remains focused on innovating and providing solutions that meet the changing needs of its clients and the market at large.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under 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,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    For more information, please contact:

    Aurora Mobile Limited
    E-mail: ir@jiguang.cn

    Christensen

    In China
    Ms. Xiaoyan Su
    Phone: +86-10-5900-1548
    E-mail: Xiaoyan.Su@christensencomms.com

    In US
    Ms. Linda Bergkamp
    Phone: +1-480-614-3004
    Email: linda.bergkamp@christensencomms.com

    The MIL Network –

  • MIL-OSI: Aurora Mobile CEO Comments on Robinhood CEO’s Crypto Remarks

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, July 24, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (NASDAQ: JG) (“Aurora Mobile” or the “Company”), a leading provider of customer engagement and marketing technology services in China, today issued a statement from its CEO, Mr. Luo Weidong, commenting on recent remarks made by Vlad Tenev, the CEO of Robinhood Markets Inc., regarding the cryptocurrency space.

    In a recent earnings call and media interviews, Vlad Tenev expressed optimism about the future of crypto assets and its potential as a mainstream asset for diversification. He also mentioned the tokenization of companies (public or private) shares and/or options for possible future trading and transactional purposes.

    Mr. Luo Weidong of Aurora Mobile commented, “At Aurora Mobile, we closely monitor the developments in the financial technology and digital asset space. Vlad Tenev’s perspectives on the growing attractiveness of crypto assets align with the broader market trends we are observing. The growing acceptance of cryptocurrencies, particularly Bitcoin and Solana, as tools for diversification, is a sign of the evolving financial landscape.”

    While Aurora Mobile is not directly involved in the cryptocurrency trading space like Robinhood, the Company has been a pioneer in leveraging big data and artificial intelligence to provide valuable insights and solutions across multiple industries. “Our expertise lies in aggregating, cleansing, and analyzing vast amounts of real-time and anonymous mobile behavioral data at the device level. This data-driven approach allows us to offer actionable insights to our clients in sectors ranging from finance to retail,” Mr. Luo added.

    “Just as the cryptocurrency market is evolving, our services are designed to adapt to the dynamic needs of our clients. Transparency and providing users with valuable information, principles that Robinhood is emphasizing in the crypto space, are also core to our mission at Aurora Mobile,” Mr. Luo continued.

    Aurora Mobile has long been a trusted partner to many major internet companies and leading consumer brands. “We are committed to leveraging our technology and data capabilities to contribute to the digital transformation of businesses, much like the efforts in the cryptocurrency space to make digital assets more accessible and user-friendly,” concluded Mr. Luo.

    As the financial technology landscape continues to evolve, Aurora Mobile remains focused on innovating and providing solutions that meet the changing needs of its clients and the market at large.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile (NASDAQ: JG) is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under 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,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    For more information, please contact:

    Aurora Mobile Limited
    E-mail: ir@jiguang.cn

    Christensen

    In China
    Ms. Xiaoyan Su
    Phone: +86-10-5900-1548
    E-mail: Xiaoyan.Su@christensencomms.com

    In US
    Ms. Linda Bergkamp
    Phone: +1-480-614-3004
    Email: linda.bergkamp@christensencomms.com

    The MIL Network –

  • MIL-OSI Africa: Alleged Chinese fugitive arrested in SA

    Source: Government of South Africa

    Thursday, July 24, 2025

    The International Criminal Police Organisation’s (INTERPOL) National Central Bureau (NCB) in Pretoria has arrested a 57-year-old Chinese fugitive, who is believed to be linked to a case of fraud reported in China.

    According to a preliminary report, INTERPOL circulated a Red Notice to all member countries to locate and provisionally arrest the Chinese national.

    This as wanted persons often flee to another country to evade their arrest.

    “The suspect reportedly applied for a visa at the United States of America Embassy in Sandton when his fugitive status was flagged, leading to his arrest on Tuesday, 22 July 2025,” said the police in a statement.

    The suspect made his first appearance in the Randburg Magistrate’s Court on Wednesday, 23 July 2025.

    The police said the INTERPOL NCB continues to record commendable successes in dismantling transnational crime syndicates and arresting international fugitives in the country. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI China: Beyond babysitting: How China’s grandparents are reinventing retirement

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

    Graduates perform during the graduation ceremony at Xinjiang Open University for Seniors in Urumqi, northwest China’s Xinjiang Uygur Autonomous Region, June 27, 2025. (Xinhua/Wang Fei)

    With her silver hair neatly styled and a pearl necklace resting against a soft yellow blouse, Yin Song embodies the elegance of the pianist she’s always been. But the large studio headphones over her ears and the video camera in front of her suggest something different.

    At 74, “Grandma Piano,” as her online fans affectionately call her, now spends her time guiding audiences through the world of anime and video game music, sharing the same depth of feeling she once brought to Mozart and Chopin.

    A lifelong musician, Yin opened her social media account in 2022 to share her expertise. It wasn’t until she analyzed the music from the hit game “Black Myth: Wukong” that her channel suddenly took off. The “grandinfluencer” now has more than 600,000 followers on the video-sharing platform Bilibili.

    For Yin, the experience has been unexpectedly transformative. “We used to lead the young,” she said. “Now they lead us, and I want to keep running alongside them,” embracing new ideas and ways of connecting.

    Yin’s story reflects a subtle yet telling cultural shift. In a country where grandparents have long been expected to devote their retirement years to caring for grandchildren, an increasing number of older Chinese are quietly rewriting the script. They are embracing new roles as content creators, community volunteers, entrepreneurs, and part-time professionals. For many, retirement is no longer a retreat, but a second act.

    Yin is far from alone. By the end of 2024, over 30 million users aged 60 or above were logging in monthly on Xiaohongshu, one of China’s most popular social media platforms. In just two years, the number of senior content creators has tripled, generating more than 100 million posts.

    These older digital pioneers are challenging long-held stereotypes from grandmothers redefining fashion, to retired professors distilling philosophy into viral short videos, and rural elders sharing their pastoral lives.

    Digital engagement is only part of the story. Many seniors are also returning to work, seeking purpose beyond their pensions. Zhu Honghua, 70, a former Beijing accountant enjoyed a comfortable monthly pension of around 8,500 yuan (about 1,191 U.S. dollars) and a leisurely life with her husband after retirement.

    But the routine began to wear thin. When a business contact invited Zhu back to accounting, she jumped at the chance. “It’s not just about the money,” she said. “Having something meaningful to do every day is its own reward.”

    Zhu’s case is hardly an outlier. A growing body of data suggests that many older Chinese are not only willing but eager to return to work. A 2023 survey by the China Association of Gerontology and Geriatrics found that 45 percent of those aged between 60 and 69 expressed a desire to remain in or reenter the workforce.

    Research from the Tianjin Academy of Social Sciences revealed similar patterns: 62.1 percent of people aged 60 to 65 said they wanted to keep working, while among those approaching retirement, aged 55 to 59, the figure was even higher, at 72.7 percent.

    While motivations vary, nearly half of those seeking post-retirement work cited a need for purpose, according to a 2022 report on senior reemployment. Others aimed to apply their skills or chase new ambitions. A third said they hoped to ease financial pressure or afford a better quality of life.

    The surge of interest in post-retirement work coincides with China’s rapidly aging population. By the end of 2024, more than 310 million Chinese citizens were aged 60 or older, about 22 percent of the population. That share is expected to surpass 30 percent by 2035, when the number of seniors is projected to top 400 million.

    As waves of older workers reach retirement age over the coming years, policymakers and experts see both a warning and an opportunity. With educational attainment on the rise, China’s older adults are seen not only as dependents, but as a vast reservoir of experience, skills and resources that could help offset the country’s shrinking working-age population.

    China has taken steps to harness the power of its aging population. In its recent move, the government issued new guidelines this May, calling for more flexible and personalized job opportunities tailored to older adults, while pledging to dismantle outdated regulations that stand in their way.

    Local governments have moved quickly to implement the changes, building registries of senior talent, expanding employment services for retirees, and cultivating specialized human resource agencies to serve the growing “silver economy.”

    Signs of change are beginning to emerge in the labor market. Retirees with backgrounds in engineering, medicine, education and skilled trades are returning as consultants, trainers or part-time specialists, lending decades of experience to fields in need.

    “China has entered an aging society,” said Lu Jiehua, a sociology professor at Peking University. “Tapping into older human resources isn’t just about addressing demographic pressure. It’s a crucial strategy for extending the country’s demographic dividend.”  

    MIL OSI China News –

  • MIL-OSI Russia: Breaking: According to preliminary data, all those on board the An-24 in the Amur Region have died — TASS

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Vladivostok, July 24 /Xinhua/ — All those on board the An-24 plane that crashed in the Amur Region have died, according to preliminary information, TASS reported, citing emergency services.

    “According to preliminary information, everyone died. So far, the helicopter with rescuers cannot land in the crash site – it is a hard-to-reach area, a mountain slope. There is a fire at the site,” the source said. -0-

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Lightning: Thai military says nine civilians killed in clashes with Cambodia – media

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    Xinhua | 24.07.2025

    Keywords: Thailand-Cambodia

    Source: Xinhua

    Flash: Thai Armed Forces Say Nine Civilians Killed in Clashes with Cambodia — Media Flash: Thai Armed Forces Say Nine Civilians Killed in Clashes with Cambodia — Media

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Cambodian PM urges people to remain calm amid clashes on Thai border

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    PHNOM PENH, July 24 (Xinhua) — Cambodian Prime Minister Hun Manet on Thursday called on the people to remain calm and trust the government and military amid a clash on the border with Thailand.

    Khun Manet wrote on his official social media page that the Thai army launched an attack on Cambodian military positions in Oddar Meanchey province on Thursday morning, and then in Preah Vihear province.

    “Cambodia has always maintained the position that it wants to resolve problems peacefully, but in this case we have no choice but to respond with armed forces to armed aggression,” he said. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with Vice Minister of Culture and Tourism of China

    Source: ASEAN – Association of SouthEast Asian Nations

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with H.E. Gao Zheng, Vice Minister of Culture and Tourism of China in Beijing. Both sides exchanged views on strengthening cooperation in culture and tourism under the ASEAN-China Comprehensive Strategic Partnership. The meeting highlighted a shared vision for enhancing cultural exchanges and tourism synergy, paving the way for innovative collaborations that celebrate cultural heritage and enrich tourism experiences, while fostering sustainable growth across ASEAN and China.

    The post Secretary-General of ASEAN meets with Vice Minister of Culture and Tourism of China appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI Africa: Togo’s ‘Nana-Benz’: how cheap Chinese imports of African fabrics have hurt the famous women traders

    Source: The Conversation – Africa – By Fidele B. Ebia, Postdoctoral fellow, Duke Africa Initiative, Duke University

    The manufacturing of African print textiles has shifted to China in the 21st century. While they are widely consumed in African countries – and symbolic of the continent – the rise of “made in China” has undermined the African women traders who have long shaped the retail and distribution of this cloth.

    For many decades Vlisco, the Dutch textile group which traces its origins to 1846 and whose products had been supplied to west Africa by European trading houses since the late 19th century, dominated manufacture of the cloth. But in the last 25 years dozens of factories in China have begun to supply African print textiles to west African markets. Qingdao Phoenix Hitarget Ltd, Sanhe Linqing Textile Group and Waxhaux Ltd are among the best known.

    We conducted research to establish how the rise of Chinese-made cloth has affected the African print textiles trade. We focused on Togo. Though it’s a tiny country with a population of only 9.7 million, the capital city, Lomé, is the trading hub in west Africa for the textiles.

    We conducted over 100 interviews with traders, street sellers, port agents or brokers, government officials and representatives of manufacturing companies to learn about how their activities have changed.

    “Made in China” African print textiles are substantially cheaper and more accessible to a wider population than Vlisco fabric. Our market observations in Lomé’s famous Assigamé market found that Chinese African print textiles cost about 9,000 CFA (US$16) for six yards – one complete outfit. Wax Hollandais (50,000 CFA or US$87) cost over five times more.

    Data is hard to come by, but our estimates suggest that 90% of imports of these textiles to Lomé port in 2019 came from China.

    One Togolese trader summed up the attraction:

    Who could resist a cloth that looked similar, but that cost much less than real Vlisco?

    Our research shows how the rise of China manufactured cloth has undermined Vlisco’s once dominant market share as well as the monopoly on the trade of Dutch African print textiles that Togolese traders once enjoyed.

    The traders, known as Nana-Benz because of the expensive cars they drove, once enjoyed an economic and political significance disproportionate to their small numbers. Their political influence was such that they were key backers of Togo’s first president, Sylvanus Olympio – himself a former director of the United Africa Company, which distributed Dutch cloth.

    In turn, Olympio and long-term leader General Gnassingbé Eyadéma provided policy favours – such as low taxes – to support trading activity. In the 1970s, African print textile trade was considered as significant as the phosphate industry – the country’s primary export.

    Nana-Benz have since been displaced – their numbers falling from 50 to about 20. Newer Togolese traders – known as Nanettes or “little Nanas” – have taken their place. While they have carved out a niche in mediating the textiles trade with China, they have lower economic and political stature. In turn, they too are increasingly threatened by Chinese competition, more recently within trading and distribution as well.

    China displaces the Dutch

    Dating back to the colonial period, African women traders have played essential roles in the wholesale and distribution of Dutch cloth in west African markets. As many countries in the region attained independence from the 1950s onwards, Grand Marché – or Assigamé – in Lomé became the hub for African print textile trade.

    While neighbouring countries such as Ghana limited imports as part of efforts to promote domestic industrialisation, Togolese traders secured favourable conditions. These included low taxes and use of the port.

    Read more: West Africans ditch Dutch wax prints for Chinese ‘real-fakes’

    Togolese women traders knew the taste of predominantly female, west African customers better than their mostly male, Dutch designers. The Nana-Benz were brought into the African print textile production and design process, selecting patterns and giving names to designs they knew would sell.

    They acquired such wealth from this trade that they earned the Nana-Benz nickname from the cars they purchased and which they used to collect and move merchandise.

    Nana-Benz exclusivity of trading and retailing of African print textiles cloth in west African markets has been disrupted. As Vlisco has responded to falling revenues – over 30% in the first five years of the 21st century – due to its Chinese competition, Togolese traders’ role in the supply chain of Dutch cloth has been downgraded.

    In response to the flood of Chinese imports, the Dutch manufacturer re-positioned itself as a luxury fashion brand and placed greater focus on the marketing and distribution of the textiles.

    Vlisco has opened several boutique stores in west and central Africa, starting with Cotonou (2008), Lomé (2008) and Abidjan (2009). The surviving Nana-Benz – an estimated 20 of the original 50 – operate under contract as retailers rather than traders and must follow strict rules of sale and pricing.

    While newer Togolese traders known as Nanettes are involved in the sourcing of textiles from China, they have lower economic and political stature. Up to 60 are involved in the trade.

    Former street sellers of textiles and other petty commodities, Nanettes began travelling to China in the early to mid-2000s to source African print textiles. They are involved in commissioning and advising on the manufacturing of African print textiles in China and the distribution in Africa.

    While many Nanettes order the common Chinese brands, some own and market their own. These include what are now well-known designs in Lomé and west Africa such as “Femme de Caractère”, “Binta”, “Prestige”, “Rebecca Wax”, “GMG” and “Homeland”.

    Compared to their Nana-Benz predecessors, the Nanettes carve out their business from the smaller pie available from the sale of cheaper Chinese cloth. Though the volumes traded are large, the margins are smaller due to the much lower final retail price compared to Dutch cloth.

    After procuring African print textiles from China, Nanettes sell wholesale to independent local traders or “sellers” as well as traders from neighbouring countries. These sellers in turn break down the bulk they have purchased and sell it in smaller quantities to independent street vendors.

    All African print textiles from China arrive in west Africa as an incomplete product – as six-yard or 12-yard segments of cloth, not as finished garments. Local tailors and seamstresses then make clothes according to consumer taste. Some fashion designers have also opened shops where they sell prêt-à-porter (ready-to-wear) garments made from bolts of African print and tailored to local taste. Thus, even though the monopoly of the Nana-Benz has been eroded, value is still added and captured locally.

    Since the COVID-19 pandemic, Chinese actors have become more involved in trading activity – and not just manufacturing. The further evolution of Chinese presence risks an even greater marginalisation of locals, already excluded from manufacturing, from the trading and distribution end of the value chain. Maintaining their role – tailoring products to local culture and trends and linking the formal and informal economy – is vital not just for Togolese traders, but also the wider economy.

    – Togo’s ‘Nana-Benz’: how cheap Chinese imports of African fabrics have hurt the famous women traders
    – https://theconversation.com/togos-nana-benz-how-cheap-chinese-imports-of-african-fabrics-have-hurt-the-famous-women-traders-260924

    MIL OSI Africa –

  • Russian plane crashes in Russia’s far east, nearly 50 people on board feared dead

    Source: Government of India

    Source: Government of India (4)

    An Antonov An-24 passenger plane carrying about 50 people crashed in Russia’s far east on Thursday and initial information suggested that everyone on board was killed, Russian emergency services officials said.

    The burning fuselage of the plane, which was from the Soviet era and was nearly 50 years old, was spotted on the ground by a helicopter and rescue crews were rushing to the scene.

    Unverified video, shot from a helicopter and posted on social media, appeared to show that the plane had come down in a densely forested area.

    The plane, whose tail number showed it was built in 1976, was operated by a Siberia-based airline called Angara.

    It was en route from the city of Blagoveshchensk to Tynda and dropped off radar screens while approaching Tynda, a remote town in the Amur region bordering China.

    There were 43 passengers, including five children, and six crew members on board according to preliminary data, Vasily Orlov, the regional governor said.

    The emergencies ministry put the number of people on board somewhat lower, at around 40.

    Debris from the plane was found on a hill around 15 km (10 miles) from Tynda, the Interfax news agency quoted emergency service officials as saying.

    “During the search operation, a Mi-8 helicopter belonging to Rossaviatsiya discovered the fuselage of the aircraft, which was on fire,” Yuliya Petina, an emergency services official, wrote on Telegram.

    “Rescuers continue to make their way to the scene of the accident”.

    Authorities announced an investigation into the crash.

    (Reuters)

  • MIL-OSI Analysis: Togo’s ‘Nana-Benz’: how cheap Chinese imports of African fabrics have hurt the famous women traders

    Source: The Conversation – Africa – By Fidele B. Ebia, Postdoctoral fellow, Duke Africa Initiative, Duke University

    The manufacturing of African print textiles has shifted to China in the 21st century. While they are widely consumed in African countries – and symbolic of the continent – the rise of “made in China” has undermined the African women traders who have long shaped the retail and distribution of this cloth.

    For many decades Vlisco, the Dutch textile group which traces its origins to 1846 and whose products had been supplied to west Africa by European trading houses since the late 19th century, dominated manufacture of the cloth. But in the last 25 years dozens of factories in China have begun to supply African print textiles to west African markets. Qingdao Phoenix Hitarget Ltd, Sanhe Linqing Textile Group and Waxhaux Ltd are among the best known.

    We conducted research to establish how the rise of Chinese-made cloth has affected the African print textiles trade. We focused on Togo. Though it’s a tiny country with a population of only 9.7 million, the capital city, Lomé, is the trading hub in west Africa for the textiles.

    We conducted over 100 interviews with traders, street sellers, port agents or brokers, government officials and representatives of manufacturing companies to learn about how their activities have changed.

    “Made in China” African print textiles are substantially cheaper and more accessible to a wider population than Vlisco fabric. Our market observations in Lomé’s famous Assigamé market found that Chinese African print textiles cost about 9,000 CFA (US$16) for six yards – one complete outfit. Wax Hollandais (50,000 CFA or US$87) cost over five times more.

    Data is hard to come by, but our estimates suggest that 90% of imports of these textiles to Lomé port in 2019 came from China.

    One Togolese trader summed up the attraction:

    Who could resist a cloth that looked similar, but that cost much less than real Vlisco?

    Our research shows how the rise of China manufactured cloth has undermined Vlisco’s once dominant market share as well as the monopoly on the trade of Dutch African print textiles that Togolese traders once enjoyed.

    The traders, known as Nana-Benz because of the expensive cars they drove, once enjoyed an economic and political significance disproportionate to their small numbers. Their political influence was such that they were key backers of Togo’s first president, Sylvanus Olympio – himself a former director of the United Africa Company, which distributed Dutch cloth.

    In turn, Olympio and long-term leader General Gnassingbé Eyadéma provided policy favours – such as low taxes – to support trading activity. In the 1970s, African print textile trade was considered as significant as the phosphate industry – the country’s primary export.

    Nana-Benz have since been displaced – their numbers falling from 50 to about 20. Newer Togolese traders – known as Nanettes or “little Nanas” – have taken their place. While they have carved out a niche in mediating the textiles trade with China, they have lower economic and political stature. In turn, they too are increasingly threatened by Chinese competition, more recently within trading and distribution as well.

    China displaces the Dutch

    Dating back to the colonial period, African women traders have played essential roles in the wholesale and distribution of Dutch cloth in west African markets. As many countries in the region attained independence from the 1950s onwards, Grand Marché – or Assigamé – in Lomé became the hub for African print textile trade.

    While neighbouring countries such as Ghana limited imports as part of efforts to promote domestic industrialisation, Togolese traders secured favourable conditions. These included low taxes and use of the port.



    Read more:
    West Africans ditch Dutch wax prints for Chinese ‘real-fakes’

    Togolese women traders knew the taste of predominantly female, west African customers better than their mostly male, Dutch designers. The Nana-Benz were brought into the African print textile production and design process, selecting patterns and giving names to designs they knew would sell.

    They acquired such wealth from this trade that they earned the Nana-Benz nickname from the cars they purchased and which they used to collect and move merchandise.

    Nana-Benz exclusivity of trading and retailing of African print textiles cloth in west African markets has been disrupted. As Vlisco has responded to falling revenues – over 30% in the first five years of the 21st century – due to its Chinese competition, Togolese traders’ role in the supply chain of Dutch cloth has been downgraded.

    In response to the flood of Chinese imports, the Dutch manufacturer re-positioned itself as a luxury fashion brand and placed greater focus on the marketing and distribution of the textiles.

    Vlisco has opened several boutique stores in west and central Africa, starting with Cotonou (2008), Lomé (2008) and Abidjan (2009). The surviving Nana-Benz – an estimated 20 of the original 50 – operate under contract as retailers rather than traders and must follow strict rules of sale and pricing.

    While newer Togolese traders known as Nanettes are involved in the sourcing of textiles from China, they have lower economic and political stature. Up to 60 are involved in the trade.

    Former street sellers of textiles and other petty commodities, Nanettes began travelling to China in the early to mid-2000s to source African print textiles. They are involved in commissioning and advising on the manufacturing of African print textiles in China and the distribution in Africa.

    While many Nanettes order the common Chinese brands, some own and market their own. These include what are now well-known designs in Lomé and west Africa such as “Femme de Caractère”, “Binta”, “Prestige”, “Rebecca Wax”, “GMG” and “Homeland”.

    Compared to their Nana-Benz predecessors, the Nanettes carve out their business from the smaller pie available from the sale of cheaper Chinese cloth. Though the volumes traded are large, the margins are smaller due to the much lower final retail price compared to Dutch cloth.

    After procuring African print textiles from China, Nanettes sell wholesale to independent local traders or “sellers” as well as traders from neighbouring countries. These sellers in turn break down the bulk they have purchased and sell it in smaller quantities to independent street vendors.

    All African print textiles from China arrive in west Africa as an incomplete product – as six-yard or 12-yard segments of cloth, not as finished garments. Local tailors and seamstresses then make clothes according to consumer taste. Some fashion designers have also opened shops where they sell prêt-à-porter (ready-to-wear) garments made from bolts of African print and tailored to local taste. Thus, even though the monopoly of the Nana-Benz has been eroded, value is still added and captured locally.

    Since the COVID-19 pandemic, Chinese actors have become more involved in trading activity – and not just manufacturing. The further evolution of Chinese presence risks an even greater marginalisation of locals, already excluded from manufacturing, from the trading and distribution end of the value chain. Maintaining their role – tailoring products to local culture and trends and linking the formal and informal economy – is vital not just for Togolese traders, but also the wider economy.

    Rory Horner receives funding from the British Academy Mid-Career Fellowship. He is also a Research Associate at the Department of Geography, Environmental Management and Energy Studies at the University of Johannesburg.

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

    – ref. Togo’s ‘Nana-Benz’: how cheap Chinese imports of African fabrics have hurt the famous women traders – https://theconversation.com/togos-nana-benz-how-cheap-chinese-imports-of-african-fabrics-have-hurt-the-famous-women-traders-260924

    MIL OSI Analysis –

  • MIL-OSI Economics: Secretary-General of ASEAN meets with Vice Minister of Foreign Affairs and SOM Leader for East Asian Cooperation of China

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with H.E. Sun Weidong, Vice Minister of Foreign Affairs and SOM Leader for East Asian Cooperation of China, in Beijing. The meeting served as an opportunity to exchange views on the ASEAN-China Comprehensive Strategic Partnership, and discussed ways to further enhance cooperation in various areas, including the preparations for the upcoming 28th ASEAN-China Summit in October 2025. Both sides also exchanged views on regional and international developments of common interest and concern.

    The post Secretary-General of ASEAN meets with Vice Minister of Foreign Affairs and SOM Leader for East Asian Cooperation of China appeared first on ASEAN Main Portal.

    MIL OSI Economics –

  • MIL-OSI China: China, EU should uphold openness and cooperation, properly manage differences, Xi says

    Source: China State Council Information Office 3

    Xi calls on China, EU to provide more stability, certainty for world through steady, sound bilateral relations

    Xinhua | July 24, 2025

    Chinese President Xi Jinping on Thursday called on China and the European Union (EU) to provide more stability and certainty for the world through steady and sound China-EU relations.

    Xi made the remarks when meeting with President of the European Council Antonio Costa and President of the European Commission Ursula von der Leyen, who are here for the 25th China-EU Summit in Beijing.

    Noting that this year marks the 50th anniversary of China-EU diplomatic ties, and the 80th anniversary of the United Nations, Xi said China-EU relations have come to another critical juncture in history.

    He said over the past 50 years, China and the EU have achieved fruitful outcomes in exchanges and cooperation, delivering mutual success and worldwide benefits, and an important understanding and insight is that the two sides should respect each other, seek commonality while reserving differences, uphold openness and cooperation, and pursue mutual benefit.

    These are also important principles and the right direction for China-EU relations in the future, Xi said. Faced with accelerating global transformation not seen in a century and a changing and turbulent world, Chinese and EU leaders should once again demonstrate vision and leadership, and make the right strategic choices that will meet people’s expectations and stand the scrutiny of history, he added.

    Xi underscored the importance for China and the EU, both constructive forces for multilateralism and openness and cooperation, to strengthen communication, enhance trust and deepen cooperation in a more challenging and complex international situation, in order to provide more stability and certainty for the world through steady and sound China-EU relations.

    Both as “big guys” in the international community, China and the EU should keep their bilateral relationship growing in the right direction, and work together to usher it into an even brighter next 50 years, he said. 

    MIL OSI China News –

  • MIL-OSI China: China releases new e-bike safety standards enforcement guidelines

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

    BEIJING, July 24 — China has issued a set of guidelines ensuring the effective implementation of new mandatory national safety standards for electric bicycles (e-bikes), in an effort to improve regulation of this sector.

    The document, released by the Ministry of Industry and Information Technology (MIIT), the Ministry of Public Security, the State Administration for Market Regulation, and the National Fire and Rescue Administration, outlines comprehensive measures which apply across the industry chain.

    There will be stricter oversight ranging from manufacturing to sales and registration, as well as the replacement of outdated vehicles, according to the guidelines.

    This move comes amid growing safety concerns over substandard e-bikes and unauthorized modifications, stoked by incidents involving e-bike fires and traffic accidents in recent years — which were often linked to illegal retrofitting that can make e-bikes exceed speed limits.

    To address these risks, China has already launched campaigns targeting safety hazards, while the new national standards will take effect on September 1.

    Preliminary results have indicated positive progress. In the first half of 2025, the country recorded 7,048 e-bike-related fire incidents, a 44.7-percent decrease compared to the same period last year.

    According to the MIIT, these guidelines aim to help manufacturers deliver compliant products to the market more quickly and accelerate the phasing out of non-conforming inventory. Efforts, notably, will be made to reinforce quality supervision endeavors and crack down on the production of non-compliant vehicles and illegal retrofitting.

    Meanwhile, China will continue to offer subsidies aimed at encouraging consumers to replace outdated e-bikes. So far this year, nearly 9.06 million new e-bikes have been sold nationwide via the government trade-in program.

    MIL OSI China News –

  • MIL-OSI: BE Semiconductor Industries N.V. Announces Q2-25 Results

    Source: GlobeNewswire (MIL-OSI)

    Q2-25 Revenue and Net Income of € 148.1 Million and € 32.1 Million, Respectively

    H1-25 Revenue and Net Income of € 292.2 Million and € 63.6 Million, Respectively

    DUIVEN, the Netherlands, July 24, 2025 (GLOBE NEWSWIRE) — BE Semiconductor Industries N.V. (the “Company” or “Besi”) (Euronext Amsterdam: BESI; OTC markets: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the second quarter and first half year ended June 30, 2025.

    Key Highlights Q2-25

    • Revenue of € 148.1 million grew 2.8% vs. Q1-25 and was within prior guidance due primarily to higher die attach shipments for mainstream computing applications. Revenue decreased 2.1% vs. Q2-24 principally due to weakness in mobile end markets partially offset by growth in hybrid bonding shipments
    • Orders of € 128.0 million decreased 3.0% vs. Q1-25 due primarily due to ongoing weakness in mainstream computing and mobile applications partially offset by significant new orders for TCB Next systems. Orders declined 30.9% vs. Q2-24 due primarily to lower orders for hybrid bonding and mobile applications
    • Gross margin of 63.3% decreased by 0.3 points vs. Q1-25 and by 1.7 points vs. Q2-24 due to a less favorable product mix and adverse forex effects from a decline in the USD versus the euro
    • Net income of € 32.1 million increased 1.9% vs. Q1-25. Versus Q2-24, net income decreased 23.4% due principally to lower revenue and gross margins, increased R&D spending and higher interest expense related to the Senior Note offering in July 2024. Q2-25 net margin decreased to 21.6% vs. 21.9% in Q1-25 and 27.7% in Q2-24
    • Cash and deposits of € 490.2 million at June 30, 2025 increased by 90.6% vs. June 30, 2024 due to the Senior Note offering in July 2024

    Key Highlights H1-25

    • Revenue of € 292.2 million decreased 1.8% vs. H1-24 principally due to ongoing weakness in mainstream assembly markets, particularly for mobile and automotive applications, partially offset by increased shipments of hybrid bonding systems
    • Orders of € 259.9 million were down 17.0% vs. H1-24 primarily due to lower bookings for hybrid bonding systems and for mobile applications, partially offset by increased die attach orders by Asian subcontractors for AI related computing applications and new orders for Besi’s TCB Next system
    • Gross margin of 63.4% decreased by 2.7 points versus H1-24 primarily due to a less favorable product mix and adverse forex effects
    • Net income of € 63.6 million decreased € 12.3 million, or 16.2%, vs. H1-24 primarily due to lower revenue and gross margin and higher interest expense. Similarly, Besi’s net margin decreased to 21.7% versus 25.5% in H1-24

    Q3-25 Outlook  

    • Revenue is expected to decline 5-15% vs. the € 148.1 million reported in Q2-25
    • Orders are expected to increase significantly vs. Q2-25 primarily due to increased demand for hybrid bonding systems and die attach systems for AI-related 2.5D computing applications
    • Gross margin is expected to range between 60-62% and decrease vs. the 63.3% realized in Q2-25 primarily due to adverse forex effects from a significantly lower USD versus the euro
    • Operating expenses are expected to be flat +/- 5% vs. € 50.2 million in Q2-25
    (€ millions, except EPS) Q2-
    2025    		 Q1-
    2025    		 Δ Q2-
    2024    		  
    Δ    		 HY1-
    2025    		 HY1-
    2024    		 Δ
    Revenue 148.1 144.1 +2.8% 151.2 -2.1% 292.2 297.5 -1.8%
    Orders 128.0 131.9 -3.0% 185.2 -30.9% 259.9 313.0 -17.0%
    Gross Margin 63.3% 63.6% -0.3 65.0% -1.7 63.4% 66.1% -2.7
    Operating Income 43.5 39.3 +10.7% 49.3 -11.8% 82.8 90.0 -8.0%
    Net Income 32.1 31.5 +1.9% 41.9 -23.4% 63.6 75.9 -16.2%
    Net Margin 21.6% 21.9% -0.3 27.7% -6.1 21.7% 25.5% -3.8
    EPS (basic) 0.40 0.40 – 0.53 -24.5% 0.80 0.97 -17.5%
    EPS (diluted) 0.40 0.40 – 0.53 -24.5% 0.80 0.97 -17.5%
    Net Cash and Deposits -36.0* 159.4 -122.6% 74.4* -148.4% -36.0* 74.4* -148.4%

    * Reflects cash dividend payments of € 172.8 million and € 171.5 million in Q2-25 and Q2-24, respectively.

    Richard W. Blickman, President and Chief Executive Officer of Besi, commented:
    “Besi reported Q2-25 revenue, operating income and net income of € 148.1 million, € 43.5 million and € 32.1 million, respectively. Revenue and operating results were at the midpoint of prior guidance in a mainstream assembly equipment market still affected by soft demand for mobile and automotive applications. Market development in Q2-25 was also affected by increased customer caution due to global trade tensions. Q2-25 revenue and operating income grew sequentially by 2.8% and 10.7%, respectively, as we saw an increase in shipments to Asian subcontractors for AI-related datacenter applications combined with a 4.3% decrease in sequential operating expenses. Orders for the quarter decreased 3.0% versus Q1-25 as weakness in mainstream computing and mobile applications was partially offset by new orders for Besi’s TCB Next system.

    For the first half year, revenue of € 292.2 million decreased 1.8% versus H1-24 reflecting broader assembly market trends as weakness in mobile and, to a lesser extent, automotive end markets was significantly offset by growth in hybrid bonding revenue which more than doubled versus H1-24. Orders decreased by 17.0% due to the timing of customer orders for hybrid bonding systems and a lack of new product introductions in high-end smartphones. H1-25 operating and net income decreased by 8.0% and 16.2%, respectively, versus H1-24 primarily due to lower revenue and a 2.7-point reduction in gross margin from a less favorable product mix, adverse net forex effects from the decline of the USD versus the euro and increased interest expense related to Besi’s Senior Note issuance in July 2024. Liquidity remained strong with cash and deposits of € 490.2 million at June 30, 2025 increasing by 90.6% vs. June 30, 2024 due to the Senior Note offering in July 2024.

    We believe the outlook for Besi’s business in H2-25 has improved in recent weeks based on customer feedback and order trends subsequent to quarter end. Expanded capex budgets for AI infrastructure have been confirmed by each of the leading industry players in recent quarters with new use cases emerging in cloud and edge computing along with co-packaged optics. Advanced packaging is one of the key ways to achieve AI system differentiation, develop innovative consumer edge AI devices and provide the most energy-efficient data center performance. Advanced packaging demand for AI applications remains strong given new device introductions expected in 2026-2028. We believe we are well positioned in the fastest-growing advanced packaging market segments including data centers, photonics, AI-enhanced PCs and mobile devices and EVs/autonomous driving.

    As such, orders for our hybrid bonding systems are expected to increase significantly in H2-25 versus both H1-25 and H2-24 in both advanced logic and HBM4 memory applications as customers advance their technology roadmaps for new product introductions in 2026 and 2027. Customer interest in our TCB Next system for both memory and logic applications has also expanded significantly. TCB Next cycle times have improved with shipments anticipated in Q4-25 from orders received in Q2-25. We also anticipate increased orders for 2.5D advanced packaging systems for AI-related datacenter applications from both global IDMs and Asian subcontractors. In addition, there are early signs of a recovery in our mainstream assembly markets principally related to increased demand by Asian subcontractors for high-end mobile applications and high-performance computing applications for consumer markets.

    For Q3-25, we anticipate that revenue will decline by approximately 5-15% versus Q2-25. However, orders for Q3-25 are expected to increase significantly on a sequential basis due to increased demand for hybrid bonding and 2.5D advanced packaging applications. Besi’s gross margin is anticipated to decline to a range of 60-62% in Q3-25 due to the adverse impact of a 12.8% decline in the value of the USD versus the euro in the first half of 2025. Operating expenses in Q3-25 are expected to be flat plus or minus 5% versus Q2-25 despite increased R&D spending.”

    Share Repurchase Activity
    During the quarter, Besi spent € 20.7 million to repurchase approximately 196,000 of its ordinary shares at an average price of € 105.80 per share. As of June 30, 2025, € 72.2 million of the current € 100 million share repurchase authorization has been used to repurchase approximately 644,000 ordinary shares at an average price of € 111.96 per share. As of June 30, 2025, Besi held approximately 2.0 million shares in treasury, equivalent to 2.5% of shares outstanding.

    Investor and media conference call
    A conference call and webcast for investors and media will be held today at 4:00 pm CET (10:00 am EDT). To register for the conference call and/or to access the audio webcast and webinar slides, please visit www.besi.com.

    Important Dates
    • Publication Q3/Nine-month results
    • Publication Q4/Full year results

    October 23, 2025
    February 2026

    Basis of Presentation
    The accompanying Consolidated Financial Statements have been prepared in accordance with International Financial Reporting Standards (“IFRS”) as adopted by the European Union. Reference is made to the Summary of Significant Accounting Policies to the Notes to the Consolidated Financial Statements as included in our 2024 Annual Report, which is available on www.besi.com.

    Contacts:
    Richard W. Blickman, President & CEO
    Andrea Kopp-Battaglia, Senior Vice President Finance
    Claudia Vissers, Executive Secretary/IR coordinator
    Edmond Franco, VP Corporate Development/US IR coordinator
    Michael Sullivan, Investor Relations
    Tel. (31) 26 319 4500
    investor.relations@besi.com

    About Besi
    Besi is a leading manufacturer of assembly equipment supplying a broad portfolio of advanced packaging solutions to the semiconductor and electronics industries. We offer customers high levels of accuracy, reliability and throughput at a lower cost of ownership with a principal focus on wafer level and substrate assembly solutions. Customers are primarily leading semiconductor manufacturers, foundries, assembly subcontractors and electronics and industrial companies. Besi’s ordinary shares are listed on Euronext Amsterdam (symbol: BESI). Its Level 1 ADRs are listed on the OTC markets (symbol: BESIY) and its headquarters are located in Duiven, the Netherlands. For more information, please visit our website at www.besi.com.

    Caution Concerning Forward-Looking Statements
    This press release contains statements about management’s future expectations, plans and prospects of our business that constitute forward-looking statements, which are found in various places throughout the press release, including, but not limited to, statements relating to expectations of orders, net sales, product shipments, expenses, timing of purchases of assembly equipment by customers, gross margins, operating results and capital expenditures. The use of words such as “anticipate”, “estimate”, “expect”, “can”, “intend”, “believes”, “may”, “plan”, “predict”, “project”, “forecast”, “will”, “would”, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The financial guidance set forth under the heading “Outlook” contains such forward-looking statements. While these forward-looking statements represent our judgments and expectations concerning the development of our business, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from those contained in forward-looking statements, including any inability to maintain continued demand for our products; failure of anticipated orders to materialize or postponement or cancellation of orders, generally without charges; the volatility in the demand for semiconductors and our products and services; the extent and duration of the COVID-19 and other global pandemics and the associated adverse impacts on the global economy, financial markets, global supply chains and our operations as well as those of our customers and suppliers; failure to develop new and enhanced products and introduce them at competitive price levels; failure to adequately decrease costs and expenses as revenues decline; loss of significant customers, including through industry consolidation or the emergence of industry alliances; lengthening of the sales cycle; acts of terrorism and violence; disruption or failure of our information technology systems; consolidation activity and industry alliances in the semiconductor industry that may result in further increased customer concentration, inability to forecast demand and inventory levels for our products; the integrity of product pricing and protection of our intellectual property in foreign jurisdictions; risks, such as changes in trade regulations, conflict minerals regulations, currency fluctuations, political instability and war, associated with substantial foreign customers, suppliers and foreign manufacturing operations, particularly to the extent occurring in the Asia Pacific region where we have a substantial portion of our production facilities; potential instability in foreign capital markets; the risk of failure to successfully manage our diverse operations; any inability to attract and retain skilled personnel, including as a result of restrictions on immigration, travel or the availability of visas for skilled technology workers.

    In addition, the United States and other countries have recently levied tariffs and taxes on certain goods and could significantly increase or impose new tariffs on a broad array of goods. They have imposed, and may continue to impose, new trade restrictions and export regulations. Increased or new tariffs and additional taxes, including any retaliatory measures, trade restrictions and export regulations, could negatively impact end-user demand and customer investment in semiconductor equipment, increase Besi’s supply chain complexity and manufacturing costs, decrease margins, reduce the competitiveness of our products or restrict our ability to sell products, provide services or purchase necessary equipment and supplies. Any or all of the foregoing factor could have a material and adverse effect on our business, results of operations or financial condition. In addition, investors should consider those additional risk factors set forth in Besi’s annual report for the year ended December 31, 2024 and other key factors that could adversely affect our businesses and financial performance contained in our filings and reports, including our statutory consolidated statements. We expressly disclaim any obligation to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.

    Consolidated Statements of Operations
         
    (€ thousands, except share and per share data) Three Months Ended
    June 30,
    (unaudited)    		 Six Months Ended
    June 30,
    (unaudited)
      2025 2024 2025 2024
             
    Revenue 148,101 151,176 292,246 297,490
    Cost of sales 54,410 52,908 106,833 100,951
             
    Gross profit 93,691 98,268 185,413 196,539
             
    Selling, general and administrative expenses 30,629 30,514 63,587 70,155
    Research and development expenses 19,571 18,503 39,073 36,422
             
    Total operating expenses 50,200 49,017 102,660 106,577
             
    Operating income 43,491 49,251 82,753 89,962
             
    Financial expense, net 5,693 1,045 8,652 1,634
             
    Income before taxes 37,798 48,206 74,101 88,328
             
    Income tax expense 5,748 6,261 10,545 12,404
             
    Net income 32,050 41,945 63,556 75,924
             
    Net income per share – basic 0.40 0.53 0.80 0.97
    Net income per share – diluted 0.40 0.53 0.80 0.97
    Number of shares used in computing per share amounts:
    – basic
    – diluted 1

    79,184,703
    81,288,679

    79,281,533
    81,941,471

    79,206,267
    81,405,308

    78,231,430
    82,023,808

    ______________________
    1) The calculation of diluted income per share assumes the exercise of equity settled share based payments and the conversion of all Convertible Notes outstanding

    Consolidated Balance Sheets
     
    (€ thousands) June
    30, 2025
    (unaudited)    		 March
    31, 2025
    (unaudited)    		 December
    31, 2024
    (audited)
    ASSETS      
           
    Cash and cash equivalents 330,170 405,736 342,319
    Deposits 160,000 280,000 330,000
    Trade receivables 178,615 170,440 181,862
    Inventories 96,977 103,836 103,285
    Other current assets 53,821 46,099 40,927
           
    Total current assets 819,583 1,006,111 998,393
           
    Property, plant and equipment 51,089 42,868 44,773
    Right of use assets 13,799 15,161 15,726
    Goodwill 44,857 45,610 46,010
    Other intangible assets 103,933 98,622 96,677
    Investment property 5,206 – –
    Deferred tax assets 27,494 29,240 31,567
    Other non-current assets 1,303 1,347 1,330
           
    Total non-current assets 247,681 232,848 236,083
           
    Total assets 1,067,264 1,238,959 1,234,476
           
           
    Bank overdraft –   840 776
    Current portion of long-term debt –   – 2,042
    Trade payables 47,458 46,598 52,630
    Other current liabilities 95,530 111,170 111,531
           
    Total current liabilities 142,988 158,608 166,979
           
    Long-term debt 526,184 525,493 525,653
    Lease liabilities 10,873 11,770 12,350
    Deferred tax liabilities 10,523 10,416 10,320
    Other non-current liabilities 19,915 19,328 17,910
           
    Total non-current liabilities 567,495 567,007 566,233
           
    Total equity 356,781 513,344 501,264
           
    Total liabilities and equity 1,067,264 1,238,959 1,234,476
    Consolidated Cash Flow Statements
         
    (€ thousands)
    		 Three Months Ended
    June 30,
    (unaudited)    		 Six Months Ended
    June 30,
    (unaudited)
      2025 2024 2025 2024
             
    Cash flows from operating activities:        
             
    Income before income tax 37,798 48,206 74,101 88,328
             
    Depreciation and amortization 7,458 6,980 14,765 13,793
    Share based payment expense 4,342 6,916 8,783 23,816
    Financial expense, net 5,694 1,045 8,653 1,634
             
    Changes in working capital (11,032) (46,694) (13,145) (49,945)
    Interest (paid) received 3,726 3,893 839 5,062
    Income tax paid (21,988) (15,428) (23,563) (17,517)
             
    Net cash provided by operating activities 25,998 4,918 70,433 65,171
             
    Cash flows from investing activities:        
    Capital expenditures (11,764) (3,216) (13,497) (8,866)
    Capitalized development expenses (7,320) (4,912) (14,057) (9,575)
    Acquisition of investment property (5,206) – (5,206) –
    Repayments of (investments in) deposits 120,000 85,000 170,000 95,000
             
    Net cash provided by (used in) investing activities 95,710 76,872 137,240 76,559
             
    Cash flows from financing activities:        
    Proceeds from (payments of) bank lines of credit (840) – (776) –
    Proceeds from (payments of) debt (2,042) – (2,042) –
    Payments of lease liabilities (1,111) (1,063) (2,225) (2,106)
    Purchase of treasury shares (20,721) (14,810) (42,785) (29,589)
    Dividends paid to shareholders (172,811) (171,534) (172,811) (171,534)
             
    Net cash used in financing activities (197,525) (187,407) (220,639) (203,229)
             
    Net increase (decrease) in cash and cash equivalents (75,817) (105,617) (12,966) (61,499)
    Effect of changes in exchange rates on cash and
      cash equivalents    		 251 798 817 256
    Cash and cash equivalents at beginning of the
       period    		 405,736 232,053 342,319 188,477
             
    Cash and cash equivalents at end of the period 330,170 127,234 330,170 127,234
    Supplemental Information (unaudited)
    (€ millions, unless stated otherwise)
                             
    REVENUE Q2-2025 Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                             
    Per geography:                        
    China 37.5   25%   40.5   28%   42.8   28%   45.5   29%   57.5   38%   58.5   40%  
    Asia Pacific (excl. China) 66.1   45%   56.3   39%   53.5   35%   51.6   33%   54.1   36%   43.6   30%  
    EU / USA / Other 44.5   30%   47.3   33%   57.1   37%   59.5   38%   39.6   26%   44.2   30%  
                             
    Total 148.1   100%   144.1   100%   153.4   100%   156.6   100%   151.2   100%   146.3   100%  
                             
    ORDERS Q2-2025 Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                             
    Per geography:                        
    China 44.4   35%   39.7   30%   40.4   33%   45.4   30%   43.3   23%   51.1   40%  
    Asia Pacific (excl. China) 60.7   47%   51.7   39%   38.8   32%   69.3   46%   72.0   39%   45.0   35%  
    EU / USA / Other 22.9   18%   40.5   31%   42.7   35%   37.1   24%   69.9   38%   31.6   25%  
                             
    Total 128.0   100%   131.9   100%   121.9   100%   151.8   100%   185.2   100%   127.7   100%  
                             
    Per customer type:                        
    IDM 71.9   56%   48.1   36%   61.2   50%   84.5   56%   122.4   66%   53.5   42%  
    Foundries/Subcontractors 56.1   44%   83.8   64%   60.7   50%   67.3   44%   62.8   34%   74.2   58%  
                             
    Total 128.0   100%   131.9   100%   121.9   100%   151.8   100%   185.2   100%   127.7   100%  
                             
    HEADCOUNT June 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024
                             
    Fixed staff (FTE) 1,831   88%   1,820   88%   1,812   93%   1,807   87%   1,783   86%   1,760   88%  
    Temporary staff (FTE) 239   12%   251   12%   134   7%   271   13%   279   14%   236   12%  
                             
    Total 2,070   100%   2,071   100%   1,946   100%   2,078   100%   2,062   100%   1,996   100%  
                             
    OTHER FINANCIAL DATA Q2-2025 Q1-2025 Q4-2024 Q3-2024 Q2-2024 Q1-2024
                             
    Gross profit 93.7   63.3%   91.7   63.6%   98.2   64.0%   101.2   64.7%   98.3   65.0%   98.3   67.2%  
                             
                             
    Selling, general and admin expenses:                        
    As reported 30.6   20.7%   33.0   22.9%   28.6   18.6%   27.3   17.4%   30.5   20.2%   39.6   27.1%  
    Share-based compensation expense (4.3 )  -2.9%   (4.4 )  -3.1%   (2.9 )  -1.8%   (3.4 ) -2.1%   (6.9 ) -4.6%   (16.9 ) -11.6%  
                             
    SG&A expenses as adjusted 26.3   17.8%   28.6   19.8%   25.7   16.8%   23.9   15.3%   23.6   15.6%   22.7   15.5%  
                             
                             
    Research and development expenses:                        
    As reported 19.6   13.2%   19.5   13.5%   19.0   12.4%   18.9   12.1%   18.5   12.2%   17.9   12.2%  
    Capitalization of R&D charges 7.3   4.9%   6.7   4.6%   5.4   3.5%   4.4   2.8%   4.9   3.2%   4.7   3.2%  
    Amortization of intangibles (3.9 ) -2.6%   (3.7 ) -2.5%   (3.9 ) -2.5%   (3.9 ) -2.5%   (3.6 ) -2.3%   (3.6 ) -2.4%  
                             
    R&D expenses as adjusted 23.0   15.5%   22.5   15.6%   20.5   13.4%   19.4   12.4%   19.8   13.1%   19.0   13.0%  
                             
                             
    Financial expense (income), net:                        
    Interest income (3.4 )   (5.0 )   (5.1 )   (5.2 )   (3.0 )   (4.0 )  
    Interest expense 6.4     6.3     6.1     5.7     2.1     2.8    
    Net cost of hedging 2.3     1.8     2.0     1.9     1.4     1.6    
    Foreign exchange effects, net 0.4     (0.1 )   0.9     (0.8 )   0.5     0.2    
                             
    Total 5.7     3.0     3.9     1.6     1.0     0.6    
                             
                             
    Operating income (as % of net sales) 43.5   29.4%   39.3   27.2%   50.6   33.0%   55.1   35.2%   49.3   32.6%   40.7   27.8%  
                             
    EBITDA (as % of net sales) 50.9   34.4%   46.6   32.3%   58.0   37.8%   62.4   39.8%   56.2   37.2%   47.5   32.5%  
                             
    Net income (as % of net sales) 32.1   21.6%   31.5   21.9%   59.3   38.6%   46.8   29.9%   41.9   27.7%   34.0   23.2%  
                             
    Effective tax rate 15.2%     13.2%     -27.0%     12.6%     13.0%     15.3%    
                             
                             
    Income per share                        
    Basic 0.40     0.40     0.75     0.59     0.53     0.44    
    Diluted 0.40     0.40     0.74     0.59     0.53     0.44    
                             
    Average shares outstanding (basic) 79,184,703 79,228,071 79,402,192 79,630,787 79,281,533 77,181,326
                             
    Shares repurchased                        
    Amount 20.7     22.1     22.4     27.8     14.8     14.8    
    Number of shares 195,647 186,869  198,450  230,807  105,042  101,049 
                             
                             
    Gross cash 490.2     685.7     672.3     637.4     257.2     447.1    
                             
    Net cash (36.0 )   159.4     143.8     110.7     74.4     180.9    
                             

    The MIL Network –

  • MIL-OSI Russia: Afghan government approves six projects worth nearly $12 million

    Translation. Region: Russian Federal

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

    An important disclaimer is at the bottom of this article.

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

    KABUL, July 24 (Xinhua) — The National Procurement Commission of the Afghan Interim Government has approved six new development projects worth 828 million Afghanis (about 12 million U.S. dollars), an official statement to this effect was released on Tuesday.

    The decision was made at a meeting of the commission chaired by Acting Deputy Prime Minister for Economic Affairs Mullah Abdul Ghani Baradar. During the meeting, a total of 28 proposed projects were considered, six of which were approved.

    According to the statement, plans include repairing several roads in Kabul and completing work in the field of electricity supply and distribution in various provinces.

    The government expects these projects to create jobs for hundreds of thousands of people, contributing to both economic growth and infrastructure development in Afghanistan. –0–

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • EU’s von der Leyen says China ties are at ‘inflection point’ at tense summit

    Source: Government of India

    Source: Government of India (4)

    European Commission President Ursula von der Leyen called for an “essential” rebalancing of trade ties with China during a tense summit on Thursday with President Xi Jinping, saying ties stood at an “inflection point”, according to a pool report.

    Expectations were low for the summit marking 50 years of diplomatic ties after weeks of escalating tension and wrangling over its format, with the duration abruptly halved to a single day at Beijing’s request.

    Von der Leyen and European Council President Antonio Costa met Xi at the start of an event set to be dominated by thorny issues ranging from trade frictions to the Ukraine war.

    “As our cooperation has deepened, so have imbalances. We have reached an inflection point,” von der Leyen told Xi during the meeting in the Great Hall of the People.

    She was referring to the EU’s trade deficit with China, which ballooned to a historic 305.8 billion euros ($360 billion) last year.

    “Rebalancing of our bilateral relation is essential … It is vital for China and Europe to acknowledge our respective concerns and come forward with real solutions.”

    However, Xi urged the EU to “make correct strategic choices” during the meeting, state broadcaster CCTV said, in a veiled criticism of Brussels’ hawkish stance on China.

    “The more severe and complex the international situation, the more China and the EU must strengthen communication, enhance mutual trust and deepen cooperation,” Xi told von der Leyen and Costa, it said.

    “Chinese and European leaders should … make correct strategic choices that meet the expectations of the people.”

    The weeks before the summit were dominated by tit-for-tat trade disputes and hawkish European rhetoric, such as a July 8 accusation by von der Leyen that China was flooding global markets as a result of its overcapacity and “enabling Russia’s war economy”.

    Shortly before the summit, however, von der Leyen struck a more conciliatory tone, describing it as an opportunity to “both advance and rebalance our relationship” in a post on X on Thursday.

    “I’m convinced there can be a mutually beneficial cooperation,” von der Leyen added.

    The two EU officials are set to meet Chinese Premier Li Qiang later. Both sides are hoping to reach a modest joint statement on climate, currently one of the only bright spots in EU-China cooperation.

    State news agency Xinhua also appeared to downplay Beijing’s rivalry with the 27-member bloc, saying China was a “critical partner” for Europe, with a range of shared interests.

    “China is a critical partner to Europe, not a systemic rival,” it said in a commentary.

    The two shared interests in trade, climate, and global governance, it said, adding, “These areas of common ground should not be eclipsed by isolated points of friction.”

    The EU defines China as a “partner, competitor and systemic rival”, which frames its strategic approach to China policy.

    At the summit, European leaders are also expected to raise topics such as electric vehicles and Chinese industrial overcapacity.

    China launched rare earth export controls in April that disrupted supply chains worldwide, leading to temporary stoppages in European automotive production lines the following month.

    But its exports of rare earth magnets to the EU surged in June by 245% from May, to stand at 1,364 metric tons, though that was still 35% lower than the year-earlier figure, customs data showed.

    The EU is likely to seal a trade deal with the United States for a broad tariff of 15% on its exports after intense negotiations, avoiding a harsher 30% figure threatened by President Donald Trump.

    (Reuters)

  • MIL-OSI China: Xi calls on China, EU to provide more stability, certainty for world through steady, sound bilateral relations

    Source: China State Council Information Office

    Xi calls on China, EU to provide more stability, certainty for world through steady, sound bilateral relations

    Xinhua | July 24, 2025

    Chinese President Xi Jinping on Thursday called on China and the European Union (EU) to provide more stability and certainty for the world through steady and sound China-EU relations.

    Xi made the remarks when meeting with President of the European Council Antonio Costa and President of the European Commission Ursula von der Leyen, who are here for the 25th China-EU Summit in Beijing.

    Noting that this year marks the 50th anniversary of China-EU diplomatic ties, and the 80th anniversary of the United Nations, Xi said China-EU relations have come to another critical juncture in history.

    He said over the past 50 years, China and the EU have achieved fruitful outcomes in exchanges and cooperation, delivering mutual success and worldwide benefits, and an important understanding and insight is that the two sides should respect each other, seek commonality while reserving differences, uphold openness and cooperation, and pursue mutual benefit.

    These are also important principles and the right direction for China-EU relations in the future, Xi said. Faced with accelerating global transformation not seen in a century and a changing and turbulent world, Chinese and EU leaders should once again demonstrate vision and leadership, and make the right strategic choices that will meet people’s expectations and stand the scrutiny of history, he added.

    Xi underscored the importance for China and the EU, both constructive forces for multilateralism and openness and cooperation, to strengthen communication, enhance trust and deepen cooperation in a more challenging and complex international situation, in order to provide more stability and certainty for the world through steady and sound China-EU relations.

    Both as “big guys” in the international community, China and the EU should keep their bilateral relationship growing in the right direction, and work together to usher it into an even brighter next 50 years, he said. 

    MIL OSI China News –

  • MIL-OSI China: China’s basic medical insurance covers 95 pct of population

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

    BEIJING, July 24 — During the 2021-2025 period, China’s basic medical insurance has maintained a coverage rate of around 95 percent, with over 1.32 billion people enrolled in 2024, according to the National Healthcare Security Administration.

    Zhang Ke, head of the administration, unveiled the data at a press conference on Thursday.

    From 2021 to 2024, nearly 20 billion medical visits received insurance reimbursements, Zhang said, noting that the number in 2024 was 1.6 times higher than in 2020.

    MIL OSI China News –