NewzIntel.com

Category: China

  • MIL-OSI China: Improved development environment for Chinese SMEs in 2024: report

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

    Workers assemble medical equipment in Shinva Medical Instrument Co., Ltd. in Zibo National New & Hi-tech Industrial Development Zone in Zibo City, east China’s Shandong Province, July 25, 2023. [Photo/Xinhua]

    The development environment for China’s small and medium-sized enterprises (SMEs) continued to improve last year as their business revenues maintained a stable trend, according to a report released on Monday.

    The report, based on both online and offline surveys of SMEs in 50 cities across the country, assessed five major criteria by looking into the market environment, legal environment, financing environment, innovation environment and policy environment, respectively.

    The report said that SMEs in China maintained largely stable revenue growth in 2024, with 60 percent of them reporting increased or stable revenues last year.

    Meanwhile, nearly 64 percent of SMEs producing new, unique, specialized and sophisticated products have further plans for innovation and research and development investment, and 40.35 percent of such enterprises have investment plans in the coming year. 

    MIL OSI China News –

  • MIL-OSI China: Chinese economy shows strong resilience despite pressure

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

    An aerial drone photo taken on April 25, 2025 shows a cargo ship navigating at Tianjin Port in north China’s Tianjin. [Photo/Xinhua]

    China’s economy withstood pressure and maintained stable growth, continuing on a path of positive development amid internal challenges and increasing external shocks, an official of the National Bureau of Statistics (NBS) said on Monday.

    NBS spokesperson Fu Linghui said at a press conference that the fundamentally positive outlook for China’s economy has not changed, and there are several favorable conditions for sustained economic recovery.

    China’s retail sales of consumer goods, a major indicator of the country’s consumption strength, expanded 5.1 percent year on year in April to 3.72 trillion yuan (about 517.27 billion U.S. dollars), NBS data showed.

    From January to April, the retail sales of consumer goods rose 4.7 percent year on year, accelerating from the 4.6-percent growth in the first three months, according to the NBS.

    In the first four months, the index of services production grew by 5.9 percent year on year, 0.1 percentage points faster than that of the first quarter, according to the NBS data.

    In April, the total value of goods imports and exports reached 3.84 trillion yuan, an increase of 5.6 percent year on year, the data showed. From January to April, the import and export volume of general trade grew by 0.6 percent year on year, accounting for 64 percent of the total trade value.

    In the first four months, private enterprises saw a year-on-year increase of 6.8 percent in imports and exports, representing 56.9 percent of the overall trade volume, an increase of 2.3 percentage points compared to the same period last year.

    China’s fixed-asset investment went up 4 percent year on year in the first four months of 2025 to 14.7 trillion yuan, the latest NBS data showed. Excluding the property sector, the country’s fixed-asset investment grew 8 percent year on year during this period.

    During the period, infrastructure investment rose 5.8 percent year on year, while manufacturing investment increased 8.8 percent, the data indicated.

    Driven by China’s consumer goods trade-in program, sales of home appliances and audio equipment surged by 38.8 percent last month, and sales of cultural and office goods jumped by 33.5 percent, according to the NBS.

    “In April, the combined retail sales of consumer goods related to trade-ins, including household appliances and audio-visual equipment, cultural and office supplies, furniture, communication equipment, and building and decoration materials, contributed to a 1.4 percentage point increase in the total retail sales of consumer goods,” Fu said.

    In April, the added value of the high-tech manufacturing industry increased by 10 percent year on year, surpassing the overall industrial growth rate by 3.9 percentage points.

    China’s shift toward intelligent and green development is gaining momentum, said Fu. In April, the added value of the intelligent unmanned aerial vehicle manufacturing sector surged by 74.2 percent, while the production of new energy vehicles rose by 38.9 percent.

    “Breakthroughs in advanced technology fields such as large AI models and humanoid robots will further promote industrial upgrading and development,” Fu said.

    Bolstered by multiple favorable factors, China’s economy is expected to maintain stable performance and steady growth momentum, said the spokesperson.

    He added that the significant reduction of bilateral tariffs between China and the United States is beneficial for trade growth between the two countries and global economic recovery.

    However, the current international environment remains complex and challenging, with a rise in unilateralism and protectionism posing serious challenges to the international economic and trade order and hindering global economic growth, Fu noted.

    “But the trend of international cooperation for win-win outcomes will not change, and China’s commitment to expanding its opening up will remain steadfast,” he said.

    The country’s efforts to diversify its foreign trade are progressing steadily, with policies aimed at promoting foreign trade development delivering continuous results, Fu said, adding that these measures are expected to continue supporting the stable growth of China’s foreign trade. 

    MIL OSI China News –

  • MIL-OSI China: US stocks inch higher despite credit rating downgrade

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

    U.S. stocks were little changed on Monday, as markets reacted to mounting concerns over the country’s fiscal outlook following a credit rating downgrade and the advancement of a controversial tax-and-spending bill.

    The Dow Jones Industrial Average rose 137.33 points, or 0.32 percent, to 42,792.07. The S&P 500 added 5.22 points, or 0.09 percent, to 5,963.6. The Nasdaq Composite Index increased 4.36 points, or 0.02 percent, to 19,215.46.

    Seven of the 11 primary S&P 500 sectors ended in green, with health and consumer staples leading the gainers by adding 0.96 percent and 0.42 percent, respectively. Meanwhile, energy and consumer discretionary led the laggards by losing 1.55 percent and 0.27 percent, respectively.

    Late Friday, Moody’s Ratings downgraded the U.S. credit rating, stripping its last triple-A credit rating, citing persistent fiscal deficits and rising interest costs as key factors. Those concerns intensified after the House Budget Committee approved U.S. President Donald Trump’s tax-and-spending bill late Sunday. Moody’s cited “persistent, large fiscal deficits” for its downgrade.

    “We do not believe that material multi-year reductions in mandatory spending and deficits will result from current fiscal proposals under consideration,” the agency wrote, referring to the tax and spending bill making its way through Congress. U.S. financial health is likely to deteriorate as the government’s debt and interest burden increase.

    Experts seem not to worry about the long-term sustainability of U.S. finances. “There are no signs of any serious deficit restraint at this stage,” noted Jim Reid, a strategist at Deutsche Bank.

    “The Moody’s downgrade of U.S. debt doesn’t tell investors anything they don’t already know about the U.S.’s fiscal woes,” wrote Bank of America analysts in a note on Monday.

    However, the downgrade and fiscal developments contributed to volatility in the bond market. The 10-year Treasury yield briefly climbed to 4.56 percent, its highest level in over a month, before pulling back to 4.45 percent as of 4:10 p.m. Eastern Daylight Time.

    Trump added to the tensions over the weekend by criticizing Walmart for signaling price increases tied to tariffs. Walmart slumped 0.12 percent on Monday.

    The Federal Reserve, which has held interest rates steady this year, remains cautious due to the uncertainty surrounding tariffs and fiscal policy. New York Fed President John Williams noted Monday that the economic outlook remains murky and that monetary policy direction may not become clearer for months.

    Tech stocks, which have driven much of the recent market rally, traded mixed on Monday. Tesla dropped 2.25 percent after a 17 percent gain last week, while Apple lost about 1.17 percent. Nvidia also slipped, while Alphabet, Microsoft, Amazon, Meta and Broadcom posted some gains. 

    MIL OSI China News –

  • MIL-OSI China: China urges US to cease discriminatory measures

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

    China’s commerce ministry on Monday condemned the United States for abusing export control measures targeting Chinese chip products, urging the country to immediately correct its wrongdoings and cease discriminatory measures against China.

    Commenting on a revised U.S. announcement concerning Chinese chip products, the spokesperson said that the announcement in essence still contains discriminatory measures and will distort the market.

    The United States has abused its export control measures and imposed stricter restrictions on Chinese chip products based on unfounded allegations, the spokesperson said, adding that China firmly opposes such unilateral bullying.

    The U.S. actions have seriously infringed upon the legitimate rights and interests of Chinese companies, threatened the security and stability of global semiconductor industrial and supply chains, and disrupted global technological innovation, the spokesperson noted.

    The spokesperson urged the U.S. side to work with China to jointly safeguard the consensus reached in the high-level talks in Geneva, and promote the building of sustainable, long-term and mutually beneficial bilateral economic and trade relations.

    If the United States continues to cause China substantive harm, China will take resolute measures to safeguard its legitimate rights and interests, the spokesperson said.

    MIL OSI China News –

  • MIL-OSI China: Wang shrugs off racket problem to advance with Sun

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

    Wang Chuqin changed his racket after his “weapon” was allegedly mishandled and went on to win a mixed doubles second round game with Sun Yingsha at the world table tennis championships on Monday.

    Wang Chuqin/Sun Yingsha (R) of China compete against Hugo Calderano/Bruna Takahashi of Brazil during the mixed doubles round of 32 match at ITTF World Table Tennis Championships Finals Doha 2025 in Doha, Qatar, May 19, 2025. (Xinhua/Xiao Yijiu)

    Minutes before the Chinese duo took on the Brazilian team of Hugo Calderano and Bruna Takahashi, Wang found part of rubber came off the blade and Chinese coach Xiao Zhan questioned the umpire if anyone had mishandled Wang’s racket. The umpire answered that no one had intentionally torn the rubber and allowed Wang to use his backup racket.

    Wang complained in a Migu TV interview that something bad always happened to him in major international events including the Paris Olympics. But he didn’t elaborate.

    Photographers, rushing to capture the moment after Wang and Sun won Olympic gold in Paris, accidentally broke Wang’s racket, a crucial piece of equipment needed for his singles match the following night – leaving him in disbelief and needing to be calmed by his coach.

    Monday’s game went well as the Olympic gold medalists and two-time defending world champions for the event cruised over World Cup holder Calderano and his girlfriend 11-2, 11-7, 11-4.

    The Chinese team asked for video replay and successfully challenged an edge call which went in the Brazilians’ favor at the beginning of the second set.

    “Our teamwork is getting better,” said Sun, who had not paired up with Wang in a few months leading to the Doha championships. 

    MIL OSI China News –

  • MIL-OSI China: Zhang regains all-around title at National Gymnastics Championships

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

    Zhang Boheng regained men’s all-around title with 82.965 points at the National Gymnastics Championships on Monday, but he was not that happy as his fans expected.

    Zhang had won two straight men’s individual titles since 2022 before Shi Cong upset him at last year’s National Gymnastics Championships.

    Zhang Boheng of Hunan competes in the parallel bars match of the men’s all-around final at the National Gymnastics Championships 2025 in Nanning, south China’s Guangxi Zhuang Autonomous Region, May 19, 2025. (Xinhua/Xu Yanan)

    Both athletes lacked luck this year. Shi broke his rib and was diagnosed pneumothorax less than three months before the tournament. Zhang injured his neck in rings training just one day before the departure, so he can hardly bend his head on the field.

    “I thought I would not be able to compete here back then. So even now I’m still fifty percent away from my top form, and I’m very satisfied with myself,” said Shi, who fell from the horizontal bar in the last round but still secured the silver medal at 79.765 points.

    Zhang also stumbled off the pommel horse, but the gold medal came easily as he was the only gymnast who scored over eighty points in the final.

    “Winning the gold makes me happy but I think more work is needed to be done for the Chinese men’s gymnasts,” said Zhang after the match.

    The NHK Cup in Japan took place almost simultaneously with the National Gymnastics Championships. Notably, nearly 20 Japanese male all-around gymnasts surpassed the 80-point mark under the new 2025-2028 Code of Points.

    “Compared with competitors like Japan, I think we should all improve our understanding of the new rules,” said Zhang.

    Lan Xingyu settled for the bronze medal at 79.632 points.

    MIL OSI China News –

  • MIL-OSI China: Ajax’s Farioli steps down after record title collapse

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

    Coach Francesco Farioli has decided to leave Ajax after only one season, the Amsterdam-based club announced on Monday, one day after the last match of the season.

    Farioli joined Ajax from OGC Nice one year ago. The 36-year-old Italian signed a contract until mid-2027 last year, after a disappointing season for Ajax with a historic last place in the Eredivisie in October 2023 under coach Maurice Steijn and a final fifth place under Steijn’s successor John van’t Schip.

    Under guidance of Farioli, Ajax arose to the top of table in the Dutch top flight with a nine-point lead over PSV with five match rounds remaining. However, Ajax collapsed in the final phase of the season and eventually reigning champion PSV finished first again last Sunday, one point ahead of Ajax. Farioli was in tears on Sunday after the last match against FC Twente (2-0 win).

    “The management and I have the same goals for the future of Ajax, but we have different visions and timeframes about the way we should work and operate to achieve those goals,” Farioli explained his departure. “Given these differences in the principles and foundations of the project, I feel deep in my heart that this is the best moment to part ways.”

    Despite the good results, Ajax and Farioli received criticism over the season for the defensive and unattractive style of play, not in line with the traditional attacking style of the Dutch giant. A different vision on the playing style between coach and the board could be one of the main reasons for his departure.

    “I find this incredibly disappointing,” technical director Alex Kroes commented in a press release. “Francesco and his staff have been a great help to us. It’s been an intense season filled with many memorable moments, and we achieved our goal: qualifying for next season’s Champions League.”

    MIL OSI China News –

  • MIL-OSI USA: Senator Wicker Helping Maintain America’s AI Edge

    US Senate News:

    Source: United States Senator for Mississippi Roger Wicker
    For decades, most Americans thought of artificial intelligence (AI) as a make-believe character in science fiction movies. Now, the future has arrived. We are adjusting to a world full of AI.
    Artificial intelligence is with us at the doctor’s office, helping detect cancer during our annual screenings. Companies use AI to support self-driving vehicles. On Facebook, users debate whether video clips are authentic or are eerily believable “deepfakes.” ChatGPT notoriously allows students to produce illicit term papers in seconds. On the battlefield, AI lets soldiers quickly analyze enemy activity. I could go on – to AI’s applications in finance, agriculture, manufacturing, and more.
    The Risks and Rewards of AI
    Those capabilities make people both excited and troubled. We call this intelligence “artificial” because scientists create it. They use math to teach computers how to solve problems and recognize patterns. Americans recognize that AI has nearly unlimited potential to benefit humanity. But the technology also raises difficult questions about privacy and job security.
    Even the recently-elected pope understands these concerns. In his first address to the world, Pope Leo XIV said this rapidly developing technology raises, “new challenges for the defense of human dignity, justice, and labor.” I believe the pope is right to recognize the high stakes. To use AI wisely, we need input from leaders in the church, government, academia, and the private sector.
    In the U.S. Senate, my colleagues and I are working to balance the risks and rewards of AI. Earlier this year, we acted to protect Americans from some of the harmful uses of the technology. Congress passed and President Trump signed into law a bill called the Take It Down Act. A key part of that law sets punishments for those who use AI to create certain pornographic deepfakes.
    Beat China in the AI Race
    The Take It Down Act demonstrates the unfortunate fact that individuals can misuse AI to devastating effect. The same is true for our adversaries. For the past two decades, the Chinese Communist Party has been pouring trillions of dollars into its military, trying to challenge the United States in hard power. It has also been investing in cyber capabilities such as AI.
    The United States is – and can remain – ahead of the Chinese Communist Party’s technological ambitions. But we must act quickly to keep America’s edge. Simply put, if we do not win the AI race, China will – directly threatening our national security.
    To Win, Unleash American Innovation
    America is poised to succeed in AI because we have the world’s most dynamic talent, research, and business ecosystem. The government should do what it can to facilitate that marketplace. Any government regulations on AI must begin with a “light touch” so that innovators can experiment, prototype, and compete. In this way, we mirror the approach the government took with the internet, allowing that technology to grow and develop in the United States.
    Unfortunately, President Biden took the opposite approach. In the final week of his term, officials set new rules that would have handicapped the supply chain for chips and semiconductors, which power AI. The rule would have gone into effect this month, weakening the American companies helping us win the technology race.
    My Republican colleagues and I encouraged President Trump to block the heavy-handed rule, and he did so this month. The president replaced that Biden-era policy with a framework that makes the United States and our allies more competitive again.
    On that positive note, it seems fitting to conclude with a summary written by ChatGPT: “America has always led the world in innovation. From the lightbulb to the moon landing to the internet, we have proven time and again that freedom fosters invention. AI should be no different.”

    MIL OSI USA News –

  • MIL-OSI China: Xi inspects central Chinese city of Luoyang

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

    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, learns about local efforts to accelerate the development of advanced manufacturing while visiting the Luoyang Bearing Group Co., Ltd. in the city of Luoyang in central China’s Henan Province, May 19, 2025. Xi on Monday inspected the city of Luoyang in central China’s Henan Province. [Photo/Xinhua]

    ZHENGZHOU, May 19 — Xi Jinping, general secretary of the Communist Party of China Central Committee, on Monday inspected the city of Luoyang in central China’s Henan Province.

    During the visit, Xi toured the Luoyang Bearing Group Co., Ltd., the White Horse Temple, and the Longmen Grottoes.

    He learned about local efforts to accelerate the development of advanced manufacturing, enhance the protection and utilization of historical and cultural heritage, and promote the high-quality development of the cultural and tourism sector.

    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, talks with employees while visiting the Luoyang Bearing Group Co., Ltd. in the city of Luoyang in central China’s Henan Province, May 19, 2025. Xi on Monday inspected the city of Luoyang in central China’s Henan Province. [Photo/Xinhua]
    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, talks with employees while visiting the Luoyang Bearing Group Co., Ltd. in the city of Luoyang in central China’s Henan Province, May 19, 2025. Xi on Monday inspected the city of Luoyang in central China’s Henan Province. [Photo/Xinhua]
    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, learns about local efforts to accelerate the development of advanced manufacturing while visiting the Luoyang Bearing Group Co., Ltd. in the city of Luoyang in central China’s Henan Province, May 19, 2025. Xi on Monday inspected the city of Luoyang in central China’s Henan Province. [Photo/Xinhua]
    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, learns about local efforts to enhance the protection and utilization of historical and cultural heritage, and promote the high-quality development of the cultural and tourism sector while visiting the White Horse Temple in the city of Luoyang in central China’s Henan Province, May 19, 2025. Xi on Monday inspected the city of Luoyang in central China’s Henan Province. [Photo/Xinhua]
    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, learns about local efforts to enhance the protection and utilization of historical and cultural heritage, and promote the high-quality development of the cultural and tourism sector while visiting the Longmen Grottoes in the city of Luoyang in central China’s Henan Province, May 19, 2025. Xi on Monday inspected the city of Luoyang in central China’s Henan Province. [Photo/Xinhua]
    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, talks with tourists while visiting the Longmen Grottoes in the city of Luoyang in central China’s Henan Province, May 19, 2025. Xi on Monday inspected the city of Luoyang in central China’s Henan Province. [Photo/Xinhua]
    Chinese President Xi Jinping, also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission, talks with tourists while visiting the Longmen Grottoes in the city of Luoyang in central China’s Henan Province, May 19, 2025. Xi on Monday inspected the city of Luoyang in central China’s Henan Province. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI Russia: Financial news: Deposit auction of JSC “KAVKAZ.RF” will be held on 20.05.2025

    Translation. Region: Russian Federal

    Source: Moscow Exchange – Moscow Exchange –

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //VVV. MOEX.K.M.M.

    Categories24-7, Mil-SOSI, Moscow, Moscow Stock Exchange, Russian Economy, Russian Federal, Russian Language, Russian economy

    Post Navigation


    Archives

    Archives Privacy Policy Proudly Powered by WordPress

    Parameters
    Date of the deposit auction 05/20/2025
    Placement currency Rub
    Maximum amount of funds placed (in placement currency) 189 760 000.00
    Placement period, days 15
    Date of deposit 05/21/2025
    Refund date 05.06.2025
    Minimum placement interest rate, % per annum 20.40
    Conditions of imprisonment, urgent or special Urgent
    Minimum amount of funds placed for one application (in placement currency) 189 760 000.00
    Maximum number of applications from one Participant, pcs. 1
    Auction form, open or closed Open
    Basis of the Treaty General Agreement
     
    Schedule (Moscow time)
    Preliminary applications from 10:00 to 10:10
    Applications in competition mode from 10:10 to 10:15
    Setting a cut-off percentage or declaring the auction invalid until 10:25
       
    Additional terms  

    MIL OSI Russia News –

  • MIL-OSI USA: PRESS RELEASE: Congresswoman Barragán Leads Congressional Letter Opposing Trump Administration’s Semiconductor Tariff Proposal

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE
    May 8, 2025

    Contact: Jin.Choi@mail.house.gov

    Congresswoman Barragán Leads Congressional Letter Opposing Trump Administration’s Semiconductor Tariff Proposal

    Washington, D.C. – Yesterday, Congresswoman Nanette Barragán (CA-44) led a group of her Democratic colleagues on the House Communications and Technology Subcommittee in calling on President Donald Trump and Commerce Secretary Howard Lutnick to abandon proposals to impose sweeping tariffs on the semiconductor industry.

    The letter, signed by House Communications and Technology Subcommittee Ranking Member Doris Matsui and subcommittee members Greg Landsman and Jennifer McClellan, warns that the proposed tariffs would increase costs for consumers, disrupt American manufacturing, undermine U.S. competition, and strain relationships with key international allies—all without achieving the stated goal of boosting domestic production.

    “These tariffs will increase the cost of essential technologies like smartphones, laptops, and broadband equipment, and will act as a direct tax on American consumers,” wrote the group of Democratic lawmakers. “The result: reduced productivity, limited access to essential tools, and slower economic growth.” 

    “Rather than resorting to punitive trade measures that risk backfiring economically and geopolitically, the United States should double down on policies that support domestic semiconductor production and strengthen our long-term competitiveness,” they continued. “We urge you to abandon these ill-conceived tariff plans and instead work with Congress, industry leaders, and international allies to bolster American innovation, secure our supply chains, and build a technology economy that serves American workers and consumers.”

    The full text of the letter can be found here and below.

    President Trump and Secretary Lutnick:

    We have serious concerns with your reported plans to impose sector-specific tariffs on semiconductor products, including chips, telecommunications equipment, and consumer electronics. These tariffs would raise prices for consumers, disrupt American manufacturing, and damage our nation’s global competitiveness—all while failing to meaningfully strengthen national security or domestic production.

    These tariffs will increase the cost of essential technologies like smartphones, laptops, and broadband equipment, and will act as a direct tax on American consumers. The result: reduced productivity, limited access to essential tools, and slower economic growth.

    The United States currently lacks the capacity to rapidly relocate large-scale technology manufacturing to our country. Structural challenges—including a shortage of workers trained in high-tech manufacturing and underdeveloped semiconductor infrastructure—make such a transition unrealistic in the short term. Tariffs will not solve these issues and could instead deepen them by inflating costs, discouraging investment, and weakening the long-term position of the United States technology industry.

    The ongoing uncertainty surrounding this tariff plan has already disrupted financial markets and injected instability into critical sectors of our economy. The technology industry depends on predictable, long-term policy—not abrupt changes that create confusion for investors, suppliers, and businesses.

    These tariffs could also provoke diplomatic fallout with some of our most trusted allies. Taiwan, South Korea, Japan, and Malaysia are potential targets for these tariffs. These are all vital partners in our technology supply chains and unnecessary tariffs could jeopardize the resilience of our supply chains and the strategic alliances that have long supported American leadership in innovation.

    Additionally, a disruption to American technology imports from allied nations could undermine the Federal Communication Commission’s efforts to implement the Secure and Trusted Networks Reimbursement (“Rip and Replace”) Program. Rip and Replace, which has received strong bipartisan, bicameral support in Congress, strengthens our national security by supporting providers who are working to replace insecure network equipment from Chinese vendors like Huawei and ZTE, while simultaneously maintaining network connectivity for consumers across the country. By disrupting global supply chains and raising the overall cost of replacing network infrastructure, the proposed tariffs could needlessly strain the Rip and Replace program’s budget and delay program implementation.

    The consequences of supply chain disruptions would also be particularly acute in the race to deploy 5G infrastructure and to lead in artificial intelligence. Access to cutting-edge components is essential to maintaining leadership in 5G, as well as in AI development. Disrupting access to these components would not only slow American progress but would also give China an unnecessary—and avoidable—strategic advantage.

    We are especially alarmed by reports that these tariffs will be enacted under Section 232 of the Trade Expansion Act of 1962, a provision designed to protect national security. This seems incompatible with the imposition of tariffs that damage alliances and delay technological innovation – that would in fact compromise our national security. As the Department of Defense made clear in its 2022 report Securing Defense-Critical Supply Chains, disruptions to allied supply lines—particularly in microelectronics—pose a direct threat to military readiness.

    Rather than resorting to punitive trade measures that risk backfiring economically and geopolitically, the United States should double down on policies that support domestic semiconductor production and strengthen our long-term competitiveness. Congress passed the CHIPS and Science Act precisely for this purpose—to revitalize American semiconductor manufacturing, create high-quality union jobs, and reduce our dependence on foreign supply chains, especially those vulnerable to authoritarian influence or geopolitical instability.

    We urge you to abandon these ill-conceived tariff plans and instead work with Congress, industry leaders, and international allies to bolster American innovation, secure our supply chains, and build a technology economy that serves American workers and consumers.

    ###

    MIL OSI USA News –

  • MIL-OSI: Qifu Technology Announces First Quarter 2025 Unaudited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 19, 2025 (GLOBE NEWSWIRE) — Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a leading AI-empowered Credit-Tech platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Business Highlights

    • As of March 31, 2025, our platform has connected 163 financial institutional partners and 268.2 million consumers*1 with potential credit needs, cumulatively, an increase of 11.1% from 241.4 million a year ago.
    • Cumulative users with approved credit lines*2 were 58.4 million as of March 31, 2025, an increase of 11.6% from 52.3 million as of March 31, 2024.
    • Cumulative borrowers with successful drawdown, including repeat borrowers was 35.5 million as of March 31, 2025, an increase of 13.8% from 31.2 million as of March 31, 2024.
    • In the first quarter of 2025, financial institutional partners originated 24,401,374 loans*3 through our platform.
    • Total facilitation and origination loan volume*4 reached RMB88,883 million, an increase of 15.8% from RMB76,784 million in the same period of 2024 and a decrease of 1.1% from RMB89,885 million in the prior quarter. RMB43,811 million of such loan volume was under capital-light model, Intelligence Credit Engine (“ICE”) and total technology solutions*5, representing 49.3% of the total, an increase of 15.1% from RMB38,053 million in the same period of 2024 and a decrease of 8.3% from RMB47,796 million in the prior quarter.
    • Total outstanding loan balance*6 was RMB140,273 million as of March 31, 2025, an increase of 5.5% from RMB132,964 million as of March 31, 2024 and an increase of 2.4% from RMB137,014 million as of December 31, 2024. RMB78,681 million of such loan balance was under capital-light model, “ICE” and total technology solutions, an increase of 11.4% from RMB70,641 million as of March 31, 2024 and a decrease of 1.2% from RMB79,599 million as of December 31, 2024.
    • The weighted average contractual tenor of loans originated by financial institutions across our platform in the first quarter of 2025 was approximately 10.17 months, compared with 10.10 months in the same period of 2024.
    • 90 day+ delinquency rate*7 of loans originated by financial institutions across our platform was 2.02% as of March 31, 2025.
    • Repeat borrower contribution*8 of loans originated by financial institutions across our platform for the first quarter of 2025 was 95.1%.

    1 Refers to cumulative registered users across our platform.
    2 “Cumulative users with approved credit lines” refers to the total number of users who had submitted their credit applications and were approved with a credit line at the end of each period.
    3 Including 2,022,501 loans across “V-pocket”, and 22,378,873 loans across other products.
    4 Refers to the total principal amount of loans facilitated and originated during the given period. Retrospectively excluding the impact of discontinued service, which did not have and is not expected to have a material impact on our overall business, financial condition, and results of operations.
    5 “ICE” is an open platform primarily on our “Qifu Jietiao” APP (previously known as “360 Jietiao”), we match borrowers and financial institutions through big data and cloud computing technology on “ICE”, and provide pre-loan investigation report of borrowers. For loans facilitated through “ICE”, the Company does not bear principal risk.
    Under total technology solutions, we have been offering end-to-end technology solutions to financial institutions based on on-premise deployment, SaaS or hybrid model since 2023.
    6 “Total outstanding loan balance” refers to the total amount of principal outstanding for loans facilitated and originated at the end of each period, excluding loans delinquent for more than 180 days. Retrospectively excluding the impact of discontinued service, which did not have and is not expected to have a material impact on our overall business, financial condition, and results of operations.
    7 “90 day+ delinquency rate” refers to the outstanding principal balance of on- and off-balance sheet loans that were 91 to 180 calendar days past due as a percentage of the total outstanding principal balance of on- and off-balance sheet loans across our platform as of a specific date. Loans that are charged-off and loans under “ICE” and total technology solutions are not included in the delinquency rate calculation.
    8 “Repeat borrower contribution” for a given period refers to (i) the principal amount of loans borrowed during that period by borrowers who had historically made at least one successful drawdown, divided by (ii) the total loan facilitation and origination volume through our platform during that period.

    First Quarter 2025 Financial Highlights

    • Total net revenue was RMB4,690.7 million (US$646.4 million), compared to RMB4,482.3 million in the prior quarter.
    • Net income was RMB1,796.6 million (US$247.6 million), compared to RMB1,912.7 million in the prior quarter.
    • Non-GAAP*9 net income was RMB1,926.2 million (US$265.4 million), compared to RMB1,972.4 million in the prior quarter.
    • Net income per fully diluted American depositary share (“ADS”) was RMB12.62 (US$1.74), compared to RMB13.24 in the prior quarter.
    • Non-GAAP net income per fully diluted ADS was RMB13.53 (US$1.86), compared to RMB13.66 in the prior quarter.

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

    Mr. Haisheng Wu, Chief Executive Officer and Director of Qifu Technology, commented, “First quarter came in stronger than typical seasonal trend despite the ongoing macroeconomic challenges. We observed an increase in users’ activities early in the quarter as public sentiment slightly improved in response to the strong stimulus messages delivered by government officials. However, we remain prudent in our business planning as tariff-related economic uncertainties may persist throughout this year. We will continue to focus on improving the quality and sustainability of our business.

    During the quarter, we issued a record amount of ABS as the overall funding environment remained supportive. As a result, the blended funding cost continued to decline sequentially. Approximately 56% of the quarter-end loan balance was under the capital-light model, ICE and total technology solutions, demonstrating the efficiency of our platform services. The contribution from non-credit risk bearing services also continued to help us mitigate certain risks in a challenging environment. During the quarter, nearly half of our new credit line users were acquired through embedded finance partners, which we also refer to as API channels, as we further diversify our user acquisition channels. Loan volumes through the API channels increased significantly in the quarter.

    With the growing maturity and efficiency of large language models, we will continue to allocate more resources to the application of AI across our credit service offerings. We expect that these AI-powered tools will not only allow us to serve our users with better offerings at greater efficiency but also enable our financial institution clients to better utilize the cutting-edge AI technologies, through our open platform. We believe these efforts will enable us to better navigate through the current environment and position us well to capture long-term opportunities through innovative technologies, enhanced products and collaborative models.”

    “We are pleased to start 2025 with another quarter of solid financial results despite an uncertain macro environment. For the first quarter, total revenue was RMB4.69 billion and Non-GAAP net income was RMB1.93 billion,” Mr. Alex Xu, Chief Financial Officer, commented. “During the quarter, we successfully completed the US$690 million convertible notes offering and it gave us ample resources to accelerate our share repurchase programs. Our strong financial position enables us to consistently execute our strategy, support business initiatives, and enhance returns to our shareholders.”

    Mr. Yan Zheng, Chief Risk Officer, added, “In the first quarter, we maintained a relatively stable risk profile as users’ activities came in stronger than normal. Although overall risk performance fluctuated from the best level we achieved in the prior quarter, it remained well within our target range. Among key leading indicators, Day-1 delinquency rate*10 was 5.0% in the first quarter, and 30-day collection rate*11 was 88.1%. While macro volatility may induce short-term fluctuation in risk metrics, we look forward to maintaining relatively stable risk performance in the coming quarters as we seek growth opportunities in 2025.”

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

    First Quarter 2025 Financial Results

    Total net revenue was RMB4,690.7 million (US$646.4 million), compared to RMB4,153.2 million in the same period of 2024, and RMB4,482.3 million in the prior quarter.

    Net revenue from Credit Driven Services was RMB3,110.9 million (US$428.7 million), compared to RMB3,016.3 million in the same period of 2024, and RMB2,889.5 million in the prior quarter.

    Loan facilitation and servicing fees-capital heavy were RMB429.8 million (US$59.2 million), compared to RMB243.8 million in the same period of 2024 and RMB363.0 million in the prior quarter. The year-over-year increase was primarily due to an increase in capital-heavy loan facilitation volume and longer effective loan tenor. The sequential increase was primarily due to the increase in effective loan tenor.

    Financing income*12 was RMB1,817.2 million (US$250.4 million), compared to RMB1,535.0 million in the same period of 2024 and RMB1,667.3 million in the prior quarter. The year-over-year and sequential increases were primarily due to the growth in the average outstanding balance of the on-balance-sheet loans.

    Revenue from releasing of guarantee liabilities was RMB778.2 million (US$107.2 million), compared to RMB1,166.0 million in the same period of 2024, and RMB761.8 million in the prior quarter. The year-over-year decrease was mainly due to the decrease in the average outstanding balance of off-balance-sheet capital-heavy loans during the period.

    Other services fees were RMB85.6 million (US$11.8 million), compared to RMB71.5 million in the same period of 2024, and RMB97.4 million in the prior quarter. The year-over-year and sequential changes reflected the changes in late payment fees under the credit driven services due to changes in collection rates of late paid loans.

    Net revenue from Platform Services was RMB1,579.8 million (US$217.7 million), compared to RMB1,136.9 million in the same period of 2024 and RMB1,592.8 million in the prior quarter.

    Loan facilitation and servicing fees-capital light were RMB373.7 million (US$51.5 million), compared to RMB502.7 million in the same period of 2024 and RMB515.1 million in the prior quarter. The year-over-year and sequential decreases were primarily due to the decreases in capital-light loan facilitation volume.

    Referral services fees were RMB1,004.6 million (US$138.4 million), compared to RMB548.8 million in the same period of 2024 and RMB907.2 million in the prior quarter. The year-over-year and sequential increases were mainly due to the increases in loan facilitation volume through ICE.

    Other services fees were RMB201.5 million (US$27.8 million), compared to RMB85.4 million in the same period of 2024 and RMB170.5 million in the prior quarter. The year-over-year and sequential changes reflected trends in other value-added services and late payment fees.

    Total operating costs and expenses were RMB2,716.0 million (US$374.3 million), compared to RMB2,789.1 million in the same period of 2024 and RMB2,591.9 million in the prior quarter.

    Facilitation, origination and servicing expenses were RMB714.5 million (US$98.5 million), compared to RMB736.0 million in the same period of 2024 and RMB734.7 million in the prior quarter.

    Funding costs were RMB122.7 million (US$16.9 million), compared to RMB156.0 million in the same period of 2024 and RMB126.8 million in the prior quarter. The year-over-year and sequential decreases were mainly due to lower average costs of ABS and trusts, partially offsetting by increases in fundings from ABS and trusts.

    Sales and marketing expenses were RMB591.5 million (US$81.5 million), compared to RMB415.6 million in the same period of 2024 and RMB523.9 million in the prior quarter. The year-over-year and sequential increases were primarily due to the increase in the allocation of marketing resources to embedded finance channels and content feed advertisements to generate more effective leads.

    General and administrative expenses were RMB196.5 million (US$27.1 million), compared to RMB106.4 million in the same period of 2024 and RMB156.1 million in the prior quarter. The year-over-year and sequential increases were primarily due to an increase in share-based compensations.

    Provision for loans receivable was RMB823.2 million (US$113.4 million), compared to RMB847.9 million in the same period of 2024 and RMB598.4 million in the prior quarter. The year-over-year decrease reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential increase was primarily due to an increase in loan origination volume of on-balance-sheet loans and the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile.

    Provision for financial assets receivable was RMB39.9 million (US$5.5 million), compared to RMB99.0 million in the same period of 2024 and RMB63.3 million in the prior quarter. The year-over-year decrease reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential decrease was mainly due to the decline in capital-heavy loan facilitation volume.

    Provision for accounts receivable and contract assets was RMB68.4 million (US$9.4 million), compared to RMB111.5 million in the same period of 2024 and RMB77.5 million in the prior quarter. The year-over-year and sequential decreases reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile and changes in capital-heavy and capital-light loan facilitation volume.

    Provision for contingent liability was RMB159.3 million (US$22.0 million), compared to RMB316.7 million in the same period of 2024 and RMB311.4 million in the prior quarter. The year-over-year and sequential decreases reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential decrease also reflected the decline in capital-heavy loan facilitation volume.

    Income from operations was RMB1,974.7 million (US$272.1 million), compared to RMB1,364.1 million in the same period of 2024 and RMB1,890.3 million in the prior quarter.

    Non-GAAP income from operations was RMB2,104.3 million (US$290.0 million), compared to RMB1,408.7 million in the same period of 2024 and RMB1,950.0 million in the prior quarter.

    Operating margin was 42.1%. Non-GAAP operating margin was 44.9%.

    Income before income tax expense was RMB2,220.2 million (US$306.0 million), compared to RMB1,526.2 million in the same period of 2024 and RMB1,932.7 million in the prior quarter.

    Income taxes expense was RMB423.6 million (US$58.4 million), compared to RMB366.1 million in the same period of 2024 and RMB20.0 million in the prior quarter. The sequential increase was mainly due to the writeback of withholding taxes in the prior quarter related to the Company’s dividend payment and share repurchases, as the Company became eligible to a lower tax rate.

    Net income was RMB1,796.6 million (US$247.6 million), compared to RMB1,160.1 million in the same period of 2024 and RMB1,912.7 million in the prior quarter.

    Non-GAAP net income was RMB1,926.2 million (US$265.4 million), compared to RMB1,204.8 million in the same period of 2024 and RMB1,972.4 million in the prior quarter.

    Net income margin was 38.3%. Non-GAAP net income margin was 41.1%.

    Net income attributed to the Company was RMB1,800.2 million (US$248.1 million), compared to RMB1,164.3 million in the same period of 2024 and RMB1,916.6 million in the prior quarter.

    Non-GAAP net income attributed to the Company was RMB1,929.8 million (US$265.9 million), compared to RMB1,208.9 million in the same period of 2024 and RMB1,976.4 million in the prior quarter.

    Net income per fully diluted ADS was RMB12.62 (US$1.74).

    Non-GAAP net income per fully diluted ADS was RMB13.53 (US$1.86).

    Weighted average basic ADS used in calculating GAAP net income per ADS was 140.48 million.

    Weighted average diluted ADS used in calculating GAAP and non-GAAP net income per ADS was 142.62 million.

    Ordinary shares outstanding as of March 31, 2025 was 268,930,496.

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

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

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

    http://ml.globenewswire.com/Resource/Download/528f864e-af49-4be7-b48b-b2650fa2808a

    http://ml.globenewswire.com/Resource/Download/12433d9d-4214-431e-b551-59f682e1ed93

    Update on Share Repurchase

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

    As of May 19, 2025, the Company had in aggregate purchased approximately 4.4 million ADSs on the open market for a total amount of approximately US$178 million (inclusive of commissions) at an average price of US$40.2 per ADS pursuant to the 2025 Share Repurchase Plan.

    On March 25, 2025, the Board approved a new share repurchase plan (the “March 2025 Share Repurchase Plan”) whereby the Company is authorized to use to the net proceeds from the offering of convertible senior notes due 2030 to repurchase its ADSs and/or Class A ordinary shares, which runs in addition to the Company’s 2025 Share Repurchase Plan. On March 27, 2025, the Company announced the completion of the offering of the convertible senior notes in an aggregate principal amount of US$690 million due 2030. Concurrently with the pricing of this offering, the Company repurchased approximately 5.1 million ADSs with an aggregate value of approximately US$227 million at a price of US$44.23 per ADS. The Company expects to use the remaining net proceeds, which is approximately US$450 million, from the offering of the convertible senior notes to repurchase additional ADSs and/or Class A ordinary shares on the open market and/or through other means from time to time under the March 2025 Share Repurchase Plan.

    Business Outlook

    As macro-economic uncertainties persist, the Company intends to maintain a prudent approach in its business planning for 2025. Management will continue to focus on enhancing efficiency of the Company’s operations. As such, for the second quarter of 2025, the Company expects to generate a net income between RMB1.65 billion and RMB1.75 billion and a non-GAAP net income*13 between RMB1.75 billion and RMB1.85 billion, representing a year-on-year growth between 24% and 31%. This outlook reflects the Company’s current and preliminary views, which is subject to material changes.

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

    Conference Call Preregistration

    Qifu Technology’s management team will host an earnings conference call at 8:30 PM U.S. Eastern Time on Monday, May 19, 2025 (8:30 AM Beijing Time on Tuesday, May 20, 2025).

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

    Registration Link: https://s1.c-conf.com/diamondpass/10047043-kj87y6.html

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

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

    About Qifu Technology

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

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

    Use of Non-GAAP Financial Measures Statement

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

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

    Exchange Rate Information

    This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB 7.2567 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2025.

    Safe Harbor Statement

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

    For more information, please contact:

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

    Unaudited Condensed Consolidated Balance Sheets
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
           
      December 31, March 31, March 31,
      2024 2025 2025
      RMB RMB USD
    ASSETS      
    Current assets:      
    Cash and cash equivalents 4,452,416 8,578,822 1,182,193
    Restricted cash 2,353,384 3,236,427 445,992
    Short term investments 3,394,073 2,040,269 281,157
    Security deposit prepaid to third-party guarantee companies 162,617 173,437 23,900
    Funds receivable from third party payment service providers 462,112 347,416 47,875
    Accounts receivable and contract assets, net 2,214,530 2,316,593 319,235
    Financial assets receivable, net 1,553,912 1,530,084 210,851
    Amounts due from related parties 8,510 3,242 447
    Loans receivable, net 26,714,428 30,675,633 4,227,215
    Prepaid expenses and other assets 1,464,586 1,510,818 208,196
    Total current assets 42,780,568 50,412,741 6,947,061
    Non-current assets:      
    Accounts receivable and contract assets, net-noncurrent 27,132 20,004 2,757
    Financial assets receivable, net-noncurrent 170,779 189,379 26,097
    Amounts due from related parties 51 39 5
    Loans receivable, net-noncurrent 2,537,749 2,314,826 318,992
    Property and equipment, net 362,774 405,926 55,938
    Land use rights, net 956,738 951,557 131,128
    Intangible assets 11,818 11,420 1,574
    Goodwill 42,414 42,407 5,844
    Deferred tax assets 1,206,325 1,244,757 171,532
    Other non-current assets 36,270 34,112 4,701
    Total non-current assets 5,352,050 5,214,427 718,568
    TOTAL ASSETS 48,132,618 55,627,168 7,665,629
           
    LIABILITIES AND EQUITY      
    Current liabilities:      
    Payable to investors of the consolidated trusts-current 8,188,454 6,541,069 901,383
    Accrued expenses and other current liabilities 2,492,921 3,337,707 459,948
    Amounts due to related parties 67,495 48,442 6,675
    Short term loans 1,369,939 1,219,431 168,042
    Guarantee liabilities-stand ready 2,383,202 2,377,408 327,616
    Guarantee liabilities-contingent 1,820,350 1,794,747 247,323
    Income tax payable 1,040,687 1,054,537 145,319
    Other tax payable 109,161 3,897 537
    Total current liabilities 17,472,209 16,377,238 2,256,843
    Non-current liabilities:      
    Deferred tax liabilities 439,435 569,734 78,511
    Payable to investors of the consolidated trusts-noncurrent 5,719,600 10,354,000 1,426,819
    Convertible senior notes – 4,912,524 676,964
    Other long-term liabilities 255,155 297,730 41,028
    Total non-current liabilities 6,414,190 16,133,988 2,223,322
    TOTAL LIABILITIES 23,886,399 32,511,226 4,480,165
    TOTAL QIFU TECHNOLOGY INC EQUITY 24,190,043 23,063,344 3,178,216
    Noncontrolling interests 56,176 52,598 7,248
    TOTAL EQUITY 24,246,219 23,115,942 3,185,464
    TOTAL LIABILITIES AND EQUITY 48,132,618 55,627,168 7,665,629
           
    Unaudited Condensed Consolidated Statements of Operations
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
           
      Three months ended March 31,
      2024  2025  2025
      RMB RMB USD
    Credit driven services 3,016,282 3,110,866 428,690
    Loan facilitation and servicing fees-capital heavy 243,766 429,775 59,225
    Financing income 1,534,986 1,817,221 250,420
    Revenue from releasing of guarantee liabilities 1,166,018 778,222 107,242
    Other services fees 71,512 85,648 11,803
    Platform services 1,136,901 1,579,831 217,706
    Loan facilitation and servicing fees-capital light 502,715 373,709 51,498
    Referral services fees 548,824 1,004,622 138,441
    Other services fees 85,362 201,500 27,767
    Total net revenue 4,153,183 4,690,697 646,396
    Facilitation, origination and servicing 736,026 714,492 98,460
    Funding costs 155,963 122,657 16,903
    Sales and marketing 415,617 591,495 81,510
    General and administrative 106,415 196,482 27,076
    Provision for loans receivable 847,921 823,187 113,438
    Provision for financial assets receivable 99,003 39,863 5,493
    Provision for accounts receivable and contract assets 111,473 68,445 9,432
    Provision for contingent liabilities 316,664 159,343 21,958
    Total operating costs and expenses 2,789,082 2,715,964 374,270
    Income from operations 1,364,101 1,974,733 272,126
    Interest income, net 50,058 67,774 9,340
    Foreign exchange gain 82 2,123 293
    Other income, net 111,968 175,600 24,198
    Income before income tax expense 1,526,209 2,220,230 305,957
    Income taxes expense (366,065) (423,631) (58,378)
    Net income 1,160,144 1,796,599 247,579
    Net loss attributable to noncontrolling interests 4,143 3,576 493
    Net income attributable to ordinary shareholders of the Company 1,164,287 1,800,175 248,072
    Net income per ordinary share attributable to ordinary shareholders of Qifu Technology, Inc.
    Basic 3.73 6.41 0.88
    Diluted 3.65 6.31 0.87
           
    Net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc.  
    Basic 7.46 12.82 1.76
    Diluted 7.30 12.62 1.74
           
    Weighted average shares used in calculating net income per ordinary share  
    Basic 312,027,192 280,958,513 280,958,513
    Diluted 318,915,157 285,237,588 285,237,588
           
    Unaudited Condensed Consolidated Statements of Cash Flows
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
         
      Three months ended March 31,
      2024  2025  2025 
      RMB RMB USD
    Net cash provided by operating activities 1,958,267 2,805,685 386,634
    Net cash used in investing activities (3,138,175) (3,240,186) (446,510)
    Net cash provided by financing activities 1,775,409 5,449,071 750,902
    Effect of foreign exchange rate changes 2,095 (5,121) (705)
    Net increase in cash and cash equivalents 597,596 5,009,449 690,321
    Cash, cash equivalents, and restricted cash, beginning of period 7,558,997 6,805,800 937,864
    Cash, cash equivalents, and restricted cash, end of period 8,156,593 11,815,249 1,628,185
           
    Unaudited Condensed Consolidated Statements of Comprehensive Income/(Loss)
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
       
      Three months ended March 31,
      2024 2025 2025
      RMB RMB USD
    Net income 1,160,144 1,796,599 247,579
    Other comprehensive income, net of tax of nil:      
    Foreign currency translation adjustment 2,010 (15,362) (2,117)
    Other comprehensive income (loss) 2,010 (15,362) (2,117)
    Total comprehensive income 1,162,154 1,781,237 245,462
    Comprehensive loss attributable to noncontrolling interests 4,143 3,576 493
    Comprehensive income attributable to ordinary shareholders 1,166,297 1,784,813 245,955
           
    Unaudited Reconciliations of GAAP and Non-GAAP Results
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
           
      Three months ended March 31,
      2024 2025 2025
      RMB RMB USD
    Reconciliation of Non-GAAP Net Income to Net Income      
    Net income 1,160,144 1,796,599 247,579
    Add: Share-based compensation expenses 44,645 129,614 17,861
    Non-GAAP net income 1,204,789 1,926,213 265,440
    GAAP net income margin 27.9% 38.3%  
    Non-GAAP net income margin 29.0% 41.1%  
           
    Net income attributable to shareholders of Qifu Technology, Inc. 1,164,287 1,800,175 248,072
    Add: Share-based compensation expenses 44,645 129,614 17,861
    Non-GAAP net income attributable to shareholders of Qifu Technology, Inc. 1,208,932 1,929,789 265,933
    Weighted average ADS used in calculating net income per ordinary share for both GAAP and non-GAAP EPS – diluted 159,457,579 142,618,794 142,618,794
    Net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc. – diluted 7.30 12.62 1.74
    Non-GAAP net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc. – diluted 7.58 13.53 1.86
           
    Reconciliation of Non-GAAP Income from operations to Income from operations      
    Income from operations 1,364,101 1,974,733 272,126
    Add: Share-based compensation expenses 44,645 129,614 17,861
    Non-GAAP Income from operations 1,408,746 2,104,347 289,987
    GAAP operating margin 32.8% 42.1%  
    Non-GAAP operating margin 33.9% 44.9%  
           

    The MIL Network –

  • MIL-OSI USA: Energy Secretary Chris Wright Delivers Keynote Remarks on Completion of First B61-13 Production Unit at Pantex Plant

    Source: US Department of Energy

    AMARILLO— U.S. Secretary of Energy Chris Wright delivered keynote remarks today at the Department of Energy’s Pantex Plant in Amarillo, Texas, marking the completion of the first production unit of the B61-13 nuclear gravity bomb.

    The B61-13 is the latest modification to the B61 family of nuclear weapons and was completed nearly a year ahead of schedule and less than two years after the program was first announced, making it one of the most rapidly developed and fielded weapons since the Cold War. Under President Trump’s leadership, the Department is modernizing America’s nuclear stockpile to deliver peace through strength. The B61-13 builds on proven B61-12 production capabilities and incorporates modern safety, security, and accuracy features, with a yield tailored for hardened and large-area military targets. The B61-13 is one of seven warhead modernization programs NNSA is executing to ensure the long-term performance and credibility of the U.S. deterrent.

    Secretary Wright’s full remarks:

    It’s an honor to be here on this special day. Every time I hear our national anthem performed, I feel strong emotions. I feel first a sense of gratitude—gratitude for those that came before us and created this nation against all odds, that put their lives on the line and stuck to their principles, no matter what the pressure was. I also feel a sense of pride to be born in this country and to have the great luck to live as an American. The ideas of freedom, liberty, and justice for all—but freedom isn’t free. Freedom isn’t free.

    That national anthem was written over 200 years ago, the last time there were foreign troops on our soil. Most ideas or nations get taken over and they get snuffed out; they lose their way. We’re unique in history, and our nation has not. And that’s only because of the men and women in our country that have stood strong, both on the principles and with the might to defend our borders and to defend our ideals.

    And Pantex and the people of Amarillo have been central to that mission. And I’ll come back to that in a second.

    I bring regards from President Trump, who is incredibly committed to this mission of modernizing our nuclear stockpile as quickly and as efficiently—but as robustly and strongly—as we can.

    He got elected on really a simple principle: that prosperity at home and peace abroad are what America and the world needed. And those go together. A prosperous, strong America is the best way to guarantee peace abroad. A strong, principled America is central to world peace and to the lives of all of us—all our friends, all our families, and all our fellow Americans across the country.

    I have the incredible honor to be in this role. I’ve been an entrepreneur my whole life. The last time I had a boss, I was 19 years old. And then I met a new guy a little more than a year ago at dinner and a very candid dialogue about energy and about our country. And right away, he said, “You should be Secretary of Energy.”

    And then he came to me after the dinner and said, “Would you do it?” I said, if I’m asked to serve my country, there’s only one answer. I didn’t have to think about that one. I did look at my wife that night and she said, “Absolutely, we’re moving to DC. You know, I’m willing.”

    And my wife has been this lifelong partner for me, up for every adventure. So, I’ve been a very, very lucky guy.

    As an entrepreneur, I started a number of businesses, mostly around energy—technology and energy. That’s why I am an energy tech nerd. But I started—I named the last company Liberty Energy, two of my favorite words.

    We have 30-year life expectancy throughout all of human history. 20,000 years ago, before the invention of agriculture, and 200 years ago— there was 30 years of global life expectancy at birth. Today, it’s 73 years. Just a few generations back. Just an incredible transformation.

    What happened? There’s all sorts of history before 200 years ago. What happened? And to me, two fundamental things changed:

    The growth of bottom-up social organization—human liberty. Societies were top-down. Women were property of their husbands, of their fathers. Slavery was endemic across every major society throughout all of history. We didn’t start perfect in those ideals, but America started with a North Star—to bring liberty, not just to our country, to the world. That mission has been not complete, but remarkably, remarkably successful in making the lives we all have.

    And the partner in making that happen was energy. It was this explosion in available energy—from wood. Mostly wood, a little bit of wind, a little bit of water flowing. That’s what powered the world throughout all of human history. And then the arrival of coal and oil and natural gas. And then these derivative energy sources that are only possible because of coal, oil, and natural gas, like nuclear, large-scale hydro, wind, solar—everything else is really derivative of hydrocarbons.

    But those two things changed our world: liberty and energy.

    And I think President Trump realized that both of those were under some threat. We saw a growing movement in our country that maybe free speech and free interchange of ideas—maybe those were out of fashion. They didn’t fit with the world today.

    I think we saw—as we heard from the General earlier—we saw growing threats to our liberty around the world. To us, a rapidly rising China. It’s a huge, huge global threat we haven’t seen in our lifetimes. We’ve seen Russia’s activities and where Russia stands today. And, as we heard, the world has gotten more dangerous.

    We need very much today a strong America. We need a prosperous America to keep peace for our shores and peace abroad, to the extent we can achieve it.

    This community—the Pantex community and the broader Amarillo community—have been central to that for over 80 years. In World War II, much to our surprise with the bombing of Pearl Harbor. Within a few months, this facility was built and started quickly to build armaments to win the war. A war we fought in the Pacific. We fought in the Atlantic—by far the largest conflict in human history.

    You’re a ways away from any danger here from foreign enemies, but they’re there. This community rose up and cranked out armaments to allow our troops around the globe to win that war.

    In that war, we also had a very unique effort for science. That wartime mobilization meant creativity, meant patriotism, and a rushed effort—literally in two and a half years in Los Alamos—we developed nuclear weapons under the gun of both war and the knowledge that Nazi Germany also had a nuclear weapons program. Getting second wasn’t an option.

    But America rose to that challenge. And we developed nuclear weapons, which you learn in school are horrific and terrifying—and they are terrifying. I would say they’re not horrific. They and American strength and resolve have probably been the biggest bringers of peace in the world for 80 years, without any live conflict between major powers.

    There are plenty of wars around the world, and President Trump’s agenda is to bring as many of those conflicts as possible to an end. But your chance of dying from violent death in our generation—and our children’s generation—is the lowest it’s ever been.

    We have the news and we hear about all the conflicts around the world, but because of a strong America, because of an unbowed resolve, we have a much safer—not completely safe—but a much safer and more peaceful world that’s allowed ourselves, our children, our grandchildren to pursue wonderful, dreamy lives.

    But to maintain that, our biggest risk is complacency. That risk is there. And that risk has been mostly at bay because of the strength of our military and the commitment of American leadership, American citizens, and American resolve.

    Pantex is absolutely central to that.

    And there was a brief break from ’45 to ’51, where we won the war, but of course, the Cold War rose quickly. And we understood this feeling of security was very brief.

    The only way we could ensure security was to be the strongest, the most powerful, the most technologically advanced, and the most committed to our values of any nation on Earth.

    Pantex was reinvented as the final assembler, where all roads lead to our nuclear stockpile. This nuclear stockpile has had unbelievably positive effects—not just on the lives of Americans—but on the lives today of 8 billion people in the world that benefit from American strength and American security.

    But the backbone of that strength and security—the ultimate guarantor of the sovereignty of our nation—is our nuclear stockpile.

    You built that stockpile in the ’50s, ’60s, ’70s, and ’80s. Then we went into a more peaceful period. We disassembled some of those weapons—also done by you. We maintained that stockpile and those weapons throughout all that time period.

    And now, with age on those weapons and rising security risks around the world, we’re called to action to modernize multiple weapons systems in our stockpile. Who’s going to lead that effort? The people looking at me in the room right now, and your more than 4,000 other colleagues that are working hard right now to make our country safe and secure.

    I was honored—and a little bit emotional as well—to stamp that B61-13 today. That’s the cutting edge of this weapons stockpile. And amazingly—have you heard of anything today that’s done a year early? Anybody built a house or had a major project or done anything else—showed up to your contractors and they said, “good news is, we’re a year ahead of schedule?”

    I’m not sure I’ve ever heard that in my life. And I know this year in the broader program here, we’re 107% ahead of plan. That’s out of fashion the last few years—everything’s late, over budget, and delayed. But not here. Not in this community. Not in this complex.

    So, I end with a thanks— a thanks from me personally. I’m so proud to be on your team now. I’m here for the count. They’ll take me out in a few years, but I’m pretty motivated to be here and to be in this role.

    A thanks from President Trump. We got him to bring back common sense, strength in America. Resolve in America. We can do big things—and we can do them on time and on budget—because we are responsible to spend the taxpayer money of 340 million Americans.

    Your delivery—early, on budget—and the whole modernization program so far ahead of schedule, a huge warm thank you from President Trump.

    And I’ll end with a thank you for the American people—all the American people. They go to sleep more secure at night, not worried about foreign invaders. They’ve got worries, indeed, but it’s a luxury to worry about other things.

    If you’re worried about your physical security—of you and your kids—nothing else matters. Well, because of your tireless efforts here for generations, you give all Americans a feeling of security. I’ve got things to worry about, but my foreign enemies aren’t one of them.

    God bless you all. Thank you for your tremendous work. I’m proud to be your partner.

    MIL OSI USA News –

  • MIL-OSI Russia: China hopes Poland’s EU Council presidency will help develop China-EU relations – Chinese FM

    Translation. Region: Russian Federal

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

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

    BEIJING, May 19 (Xinhua) — This year marks the 50th anniversary of the establishment of diplomatic ties between China and the European Union, and China expects Poland, which holds the rotating presidency of the EU Council, to play a more constructive role in pushing China-EU relations toward new progress, Chinese Foreign Minister Wang Yi said Monday.

    Wang Yi, also a member of the Politburo of the CPC Central Committee, made the remarks during a telephone conversation with Polish Foreign Minister Radoslaw Sikorski.

    Poland is an important strategic partner of China in Europe, Wang Yi noted, adding that China is ready to maintain high-level contacts with Poland and expand practical cooperation in various fields.

    Recalling that this year marks the 80th anniversary of the victory in the World Anti-Fascist War and the founding of the United Nations, Wang Yi said that China hopes to work with Poland to uphold the international order established after World War II, defend the central role of the UN, and protect international law and the basic norms of international relations.

    The return of Taiwan to China is an integral part of the victorious results of World War II and the post-war international order, the head of the Chinese Foreign Ministry emphasized. He expressed hope that Poland will adhere to the international consensus, continue to pursue the one-China policy and oppose any form of separatism to gain “Taiwan independence.”

    R. Sikorski, in turn, stated that Poland attaches great importance to relations with China, will firmly adhere to the one-China policy and is committed to strengthening exchanges with China at all levels, deepening mutually beneficial cooperation in various fields, jointly protecting the post-war international order and continuously promoting Polish-Chinese and European-Chinese relations.

    The two sides also exchanged views on the Ukrainian crisis. Wang Yi said that the developments in Ukraine have proven that Chinese President Xi Jinping’s four-point proposal takes into account the interests of all parties and is an important guiding principle for advancing the political settlement of the Ukrainian crisis.

    As the head of the Chinese Foreign Ministry noted, China has always made efforts to promote peace talks, never abandoned peace efforts, and, in particular, established the “Friends of Peace” group together with other countries in the Global South.

    Russia and Ukraine recently resumed direct talks, taking a first step toward peace despite differences in positions, Wang said, adding that China expects all sides to further demonstrate their willingness to resolve the crisis through political means and ultimately reach a fair, lasting and legally binding peace agreement through continued dialogue.

    The Polish Foreign Minister expressed hope that China will continue to play an active role in establishing lasting peace in Europe. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Armenian government attaches great importance to deepening friendship and cooperation with China – PM

    Translation. Region: Russian Federal

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

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

    Yerevan, May 19 /Xinhua/ — Armenian Prime Minister Nikol Pashinyan met with the new Ambassador of the People’s Republic of China Li Xinwei, the Chinese Embassy in Armenia reported on its website on Monday.

    During the meeting, N. Pashinyan stated that the Armenian government attaches great importance to deepening friendship and cooperation with China and is ready for close high-level exchanges, strengthening political mutual trust and advancing Armenian-Chinese relations to a new level for the benefit of the peoples of the two countries.

    The Prime Minister stressed that the Armenian side expects to further expand practical cooperation with the Chinese side, in particular in such aspects as the implementation of economic cooperation projects, strengthening interconnectivity and increasing cultural and humanitarian exchanges, in order to continue to reveal the potential of bilateral cooperation.

    Li Xinwei, in turn, noted that China and Armenia are good friends and reliable partners. According to him, over the 33 years since the establishment of diplomatic relations, the two countries have maintained healthy and stable development of friendly ties, and cooperation in various fields is steadily moving forward. In the future, China is ready to work together with Armenia to promote further deepening and new practical results of Chinese-Armenian relations, the ambassador added. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: China urges US to lift discriminatory measures /more details/

    Translation. Region: Russian Federal

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

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

    BEIJING, May 19 (Xinhua) — China’s Ministry of Commerce on Monday condemned the United States for abusing export controls on Chinese chips, calling on the U.S. side to immediately correct its wrong actions and lift discriminatory measures against China.

    Commenting on the revised US statement on Chinese chips, a Commerce Department spokesman said it was still discriminatory in nature and market-distorting.

    The United States is abusing export controls and imposing tougher restrictions on Chinese chips based on baseless accusations, the official said, stressing that China firmly opposes such unilateral bullying.

    According to him, the US actions seriously violate the legitimate rights and interests of Chinese companies, threaten the security and stability of global supply chains in the semiconductor industry, and deal a serious blow to global scientific and technological innovation.

    The official called on the US side to cooperate with China to maintain the consensus reached at the high-level talks in Geneva and promote the building of sustainable, long-term and mutually beneficial bilateral trade and economic relations.

    If the US continues to cause significant damage to China, the Chinese side will take decisive measures to protect its legitimate rights and interests, the official representative promised. –0–

    MIL OSI Russia News –

  • MIL-OSI Security: Former Tulare County Medical Doctor Pleads Guilty to Distributing Misbranded Drugs Using False Claims about COVID-19

    Source: Office of United States Attorneys

    Stephen D. Meis, M.D., 73, formerly of Visalia, pleaded guilty today to one count of introduction of misbranded drugs into interstate commerce, Acting U.S. Attorney Michele Beckwith announced.

    According to court documents, Meis was the Medical Director of Golden Sunrise Pharmaceutical Inc. and Golden Sunrise Nutraceutical Inc. that manufactured, marketed, and sold products claiming to effectively treat a variety of medical conditions.

    Beginning on March 30, 2020, Meis and Golden Sunrise’s Chief Executive Officer Huu Tieu, 62, of Porterville, began selling a set of herbal mixtures they called the “Emergency D-Virus Plan of Care” as a COVID-19 treatment. The treatment consisted of a box containing various vials of Golden Sunrise drug products, including one called “Imunstem,” together with an “Emergency D-Virus Plan of Care” information sheet. Meis and Tieu mailed the products to various practitioners, public officials, and other individuals both inside and outside of California.

    The labeling for the drugs, including the information sheet that accompanied the drugs, was false and misleading and stated that ImunStem and other Golden Sunrise products were “uniquely qualified to treat and modify the course of the virus epidemic in China and other countries.” Golden Sunrise falsely claimed the products had been the first dietary supplement in the United States to be approved as a prescription medicine by the U.S. Food and Drug Administration (FDA) to treat the COVID-19 virus. In fact, the drugs were not FDA approved, and no Golden Sunrise product had ever been approved by the FDA for any purpose.

    On June 12, 2024, Tieu was sentenced to 18 months in prison for introduction of misbranded drugs into interstate commerce.

    This case is the product of an investigation by the FDA Office of Criminal Investigations, the U.S. Department of Health and Human Services Office of Inspector General, and the Federal Bureau of Investigation with assistance from the Tulare County District Attorney’s Office. Assistant U.S. Attorneys Jeffrey A. Spivak and Emilia P.E. Morris are prosecuting the case.

    Meis is scheduled to be sentenced by U.S. District Judge Jennifer L. Thurston on July 14, 2025. Meis faces a maximum statutory penalty of 12 months in prison and a $100,000 fine. The actual sentence, however, will be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

    MIL Security OSI –

  • MIL-OSI Russia: Chairman of the Standing Committee of the National People’s Congress Holds Talks with the Speaker of the Chamber of Deputies of the Congress of Mexico

    Translation. Region: Russian Federal

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

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

    BEIJING, May 19 (Xinhua) — Zhao Leji, chairman of the Standing Committee of the National People’s Congress (NPC), held talks with Sergio Gutierrez Luna, president of the Chamber of Deputies (lower house) of Mexico, in Beijing on Monday.

    Zhao Leji said China is willing to work with Mexico to implement the important consensus reached by the two heads of state, implement the five plans for building a community with a shared future for China and Latin American and Caribbean countries (LAC), enrich the content of the China-Mexico comprehensive strategic partnership, and promote unity and prosperity between China and LAC.

    The above-mentioned five programs, covering aspects such as solidarity, development, civilization, peace and people-to-people connectivity, were introduced by Chinese President Xi Jinping at the opening ceremony of the 4th China-CELAC (Community of Latin American and Caribbean States) Forum Ministerial Meeting in Beijing last week.

    The NPC Standing Committee chairman noted that the Chinese side highly appreciates the long-term commitment of the Mexican Chamber of Deputies to the one-China principle and welcomes Mexico’s flexible participation in the joint construction of the Belt and Road Initiative.

    According to Zhao Leji, China welcomes deepening cooperation with Mexico in traditional sectors such as infrastructure construction, expanding cooperation in new sectors including electric vehicles, new energy and agricultural machinery, strengthening cultural and people-to-people exchanges, and expanding cooperation in education, think tanks and the media.

    Zhao Leji stressed that the Chinese National People’s Congress is willing to strengthen exchanges and maintain close coordination with the Mexican parliament.

    As important representatives of the Global South, China and LAC countries should carry forward the glorious tradition of independence and self-reliance, safeguard their right to development, uphold international fairness and justice, and practice genuine multilateralism, the NPC Standing Committee chairman added.

    S. Gutierrez Luna, for his part, stated that Mexico is ready to work with China to promote the implementation of the results of the China-CELAC Forum and strengthen cooperation in the areas of economics, science, technology, culture, education and tourism.

    Mexico advocates for strengthening international cooperation instead of erecting barriers, S. Gutierrez Luna emphasized, adding that the Chamber of Deputies of the Mexican Congress hopes to deepen exchanges with the NPC to promote Mexico-China relations and LAC-China relations. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Chinese Foreign Minister Calls on China and Germany to Deepen Mutually Beneficial Cooperation, Jointly Oppose Unilateralism and Protectionism

    Translation. Region: Russian Federal

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

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

    BEIJING, May 19 (Xinhua) — Chinese Foreign Minister Wang Yi on Monday called on China and Germany to deepen mutually beneficial cooperation and jointly oppose unilateralism and protectionism.

    Wang Yi, also a member of the Politburo of the CPC Central Committee, made the statement during a telephone conversation with German Foreign Minister Johann Wadephul.

    The Chinese diplomat congratulated his colleague on taking office, noting that Chinese-German relations go beyond bilateral relations in their significance and have an important impact on economic development and strategic stability throughout the world.

    Stressing that China and Germany enjoy a comprehensive strategic partnership, Wang Yi expressed hope that the new German government will remain committed to this status of bilateral relations and pursue a rational and pragmatic policy towards China.

    Wang Yi pointed out that the Taiwan issue is a matter of China’s fundamental interests. He expressed his belief that the German side will firmly adhere to the one-China principle, just as China once supported the reunification of Germany.

    Deepening mutually beneficial cooperation is a natural choice for China and Germany, whose economies are highly complementary, whose industries are deeply interconnected and whose interests are closely integrated, Wang said, stressing that both sides should not allow normal bilateral cooperation to be undermined in the interests of so-called risk reduction.

    As the Chinese Foreign Minister noted, this year marks the 50th anniversary of the establishment of diplomatic relations between China and the European Union, which is an important milestone connecting the past and the future. In this regard, Wang Yi expressed hope that Germany will play an active role as a key member state of the European Union and give new impetus to the development of relations between China and the EU through high-quality Sino-German cooperation.

    According to him, the Chinese side also expects the European Union to move towards China, promptly and properly resolve the anti-subsidy case against Chinese electric vehicles, and promote qualitative improvement of cooperation between China and the EU.

    Wang Yi added that China and Germany should shoulder their responsibilities as major countries, jointly advocate and adhere to free trade, oppose unilateralism and protectionism, ensure the security and stability of global industrial and supply chains, practice genuine multilateralism, and uphold the international system with the UN at its core. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Chinese Foreign Minister Calls on China and Germany to Deepen Mutually Beneficial Cooperation, Jointly Oppose Unilateralism and Protectionism /more details/

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    BEIJING, May 19 (Xinhua) — Chinese Foreign Minister Wang Yi on Monday called on China and Germany to deepen mutually beneficial cooperation and jointly oppose unilateralism and protectionism.

    Wang Yi, also a member of the Politburo of the CPC Central Committee, made the statement during a telephone conversation with German Foreign Minister Johann Wadephul.

    The Chinese diplomat congratulated his colleague on taking office, noting that Chinese-German relations go beyond bilateral relations in their significance and have an important impact on economic development and strategic stability throughout the world.

    Stressing that China and Germany enjoy a comprehensive strategic partnership, Wang Yi expressed hope that the new German government will remain committed to this status of bilateral relations and pursue a rational and pragmatic policy towards China.

    Wang Yi pointed out that the Taiwan issue is a matter of China’s fundamental interests. He expressed his belief that the German side will firmly adhere to the one-China principle, just as China once supported the reunification of Germany.

    Deepening mutually beneficial cooperation is a natural choice for China and Germany, whose economies are highly complementary, whose industries are deeply interconnected and whose interests are closely integrated, Wang said, stressing that both sides should not allow normal bilateral cooperation to be undermined in the interests of so-called risk reduction.

    As the Chinese Foreign Minister noted, this year marks the 50th anniversary of the establishment of diplomatic relations between China and the European Union, which is an important milestone connecting the past and the future. In this regard, Wang Yi expressed hope that Germany will play an active role as a key member state of the European Union and give new impetus to the development of relations between China and the EU through high-quality Sino-German cooperation.

    According to him, the Chinese side also expects the European Union to move towards China, promptly and properly resolve the anti-subsidy case against Chinese electric vehicles, and promote qualitative improvement of cooperation between China and the EU.

    Wang added that China and Germany should shoulder their responsibilities as major countries, jointly advocate and adhere to free trade, oppose unilateralism and protectionism, ensure the security and stability of global industrial and supply chains, practice genuine multilateralism, and uphold the international system with the UN at its core.

    J. Wadephul, for his part, stated that German-Chinese relations are of great importance for the development of the world economy and for the future of the international community. He pointed out that the new German government pays close attention to relations with China and intends to pursue an active policy towards the PRC.

    As J. Wadephul emphasized, Germany has firmly adhered to the one-China policy in the past and will continue to do so in the future, wishing to be a reliable and predictable partner for the Chinese side.

    As a leading member of the European Union, Germany intends to make efforts to resolve differences through dialogue and consultation and supports the EU and China in resolving issues such as the anti-subsidy case against Chinese electric vehicles through negotiations, the German diplomat assured.

    The two sides also exchanged views on the Ukrainian crisis. Wang Yi said China has made continuous efforts to advance peace talks and supports achieving a fair, lasting and legally binding peace agreement through direct dialogue.

    J. Wadeful, in turn, expressed hope that China will use its influence to promote a ceasefire and a speedy end to the crisis in Ukraine. –0–

    MIL OSI Russia News –

  • MIL-OSI: NCS Multistage Holdings, Inc. to Present at the Emerging Growth Conference

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 19, 2025 (GLOBE NEWSWIRE) — NCS Multistage Holdings, Inc. (“NCS” or the “Company”) (NASDAQ:NCSM) announced today that Ryan Hummer, Chief Executive Officer, is scheduled to present at the Emerging Growth Conference on Wednesday, May 21, 2025 at 1:55 p.m. Central Time (2:55 p.m. Eastern Time).

    To attend the presentation, interested parties should register at the following link:

    Register for Emerging Growth Conference here

    A recording of the presentation should be available on the Company’s website at www.ncsmultistage.com under the Investors section for approximately 90 days following the event.

    NCS Multistage Holdings, Inc. is a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completions and field development strategies. NCS provides products and services primarily to exploration and production companies for use in onshore and offshore wells, predominantly wells that have been drilled with horizontal laterals in both unconventional and conventional oil and natural gas formations. NCS’s products and services are utilized in oil and natural gas basins throughout North America and in selected international markets, including the North Sea, the Middle East, Argentina and China. NCS’s common stock is traded on the Nasdaq Capital Market under the symbol “NCSM.” Additional information is available on the website, www.ncsmultistage.com.

    Contact:
    Mike Morrison
    Chief Financial Officer and Treasurer
    +1 281-453-2222
    IR@ncsmultistage.com

    The MIL Network –

  • MIL-OSI USA: Since Governor Newsom took office, California’s battery storage has increased 1,944% – and just achieved a major milestone

    Source: US State of California 2

    May 19, 2025

    What you need to know: California’s battery storage capacity now exceeds 15,700 megawatts, an unprecedented milestone that reflects the Newsom administration’s continued leadership in building the grid of the future.

    SACRAMENTO — California continues to rapidly expand its energy storage statewide, adding 2,300 megawatts (MW) since last September for a total of 15,763 MW of battery storage capacity, according to new data released today. This reflects a 1,944% increase since the start of the Newsom Administration – up from 770 MW in 2019. 

    Energy storage – particularly battery storage – has become a key resource in the state’s energy transformation. Battery systems capture power produced by wind and solar resources and discharge the energy back to the electric grid during times of peak demand – creating a safer and more reliable power grid.

    California is adding battery storage at a pace never seen before as we continue our work to build the grid of the future. The key to a cleaner, more reliable power grid is batteries – and no other jurisdiction on the planet, save China, comes even close to our rapid deployment.

    Governor Gavin Newsom

    On a smaller scale, tens of thousands of residential and commercial battery systems provide backup power and flexibility to homes, schools and businesses. They make up about 2,500 MW of total storage statewide, or about 16% of the battery storage total.

    The state projects that more than 48,000 MW of battery storage and 4,000 MW of long duration storage will be needed by 2045. Long duration energy storage systems are especially important, as they can provide up to 10 hours of power–more than double the four hours of power provided by traditional battery storage technology. 

    As California builds out the grid of the future, it is focusing efforts on proactively addressing safety for utility-scale battery storage systems through comprehensive state level collaborations and regulatory updates. Building battery storage is a critical part of the Governor’s build more, faster agenda delivering infrastructure upgrades and creating thousands of jobs across the state. 

    Governor Gavin Newsom recently convened a state-level collaborative to find opportunities to improve safety as the technology continues to evolve. Last month, the California Public Utilities Commission implemented new safety standards for battery storage facilities. Other key initiatives include an update to the California Fire Code happening this year, expected to include enhanced BESS safety standards. 

    California’s climate leadership

    Pollution is down and the economy is up. Greenhouse gas emissions in California are down 20% since 2000 – even as the state’s GDP increased 78% in that same time period.

    The state continues to set clean energy records. Last year, California ran on 100% clean electricity for the equivalent of 51 days – with the grid running on 100% clean energy for some period three out of every five days. 

    Press releases, Recent news

    Recent news

    May 16, 2025

    News What you need to know: The state is investing almost $1.7 billion for improvements to California’s highway system, including $86.5 million for improvements to infrastructure damaged during the Los Angeles firestorms earlier this year. SACRAMENTO – Governor Gavin…

    May 16, 2025

    News SACRAMENTO – Governor Gavin Newsom kicked off #WorldTradeMonth with a round of key international interviews with journalists from major broadcast networks in Canada, Japan, Mexico, South Korea, and the United Kingdom. In the interviews, Governor Newsom addressed…

    May 15, 2025

    News Sacramento, California – Governor Gavin Newsom today issued a proclamation declaring May 2025 as “Small Business Month.”The text of the proclamation and a copy can be found below: PROCLAMATIONCalifornia’s more than 4.2 million small businesses – the most of any…

    MIL OSI USA News –

  • MIL-OSI Economics: China Round Table on WTO Accessions, focusing on Arab economies, concludes in Muscat

    Source: WTO

    Headline: China Round Table on WTO Accessions, focusing on Arab economies, concludes in Muscat

    Entitled “Advancing Arab Economies: From Strategic Accessions to Global Trade Integration”, the 13th China Round Table highlighted the benefits of WTO membership for economic policy coherence, growth and development. With the aim of informing the strategies of other acceding economies, the event explored how accession has enabled Arab economies to reform their trade regimes and engage more effectively with the multilateral trading system. The challenges that members faced immediately following their accession were also examined.
    A high-level session celebrated the 25th anniversary of Oman’s WTO accession and recognized the challenges that Oman faced on its path to accession, as well as the contributions that Oman has made to the multilateral trading system.
    Opening the Round Table, Oman’s Undersecretary for Commerce and Industry, Dr Saleh bin Said Masan, said: “Since joining the WTO in November 2000, Oman has been an active and committed member of the multilateral trading system. It has always regarded membership of the WTO as a strategic step towards enhancing its role in the global economy and deepening its co-operation with countries around the world.”
    Highlighting the importance of the China Round Table in fostering cooperation among nations, Dr Saleh added: “It seems timely to consider efforts to restore the central role of the WTO as a platform for resolving global trade issues. The WTO should serve the interests of all countries, regardless of their level of economic development, in line with the principles enshrined in its founding agreement.
    In addition to acceding economies, participants at the Round Table included the Gulf Cooperation Council (GCC) member states – namely, the Kingdom of Bahrain, the State of Kuwait, Oman, Qatar, the Kingdom of Saudi Arabia and the United Arab Emirates – and representatives of the International Trade Centre (ITC), United Nations Trade and Development (UNCTAD) and the World Bank Group. Comoros, which became a WTO member in August 2024, also participated in the Round Table.
    China’s Vice Minister of Commerce, Mr Yan Dong, said: “The 13th China Round Table is a unique opportunity to discuss how to help developing countries speed up accessions and benefit from the multilateral trading system. … As the global landscape undergoes rapid changes unseen in a century, accelerating accessions of developing countries, especially LDCs, to the WTO, and better integrating them into the multilateral trading system is conducive not only to their economic resilience and recovery, but also to the vitality and representation of the WTO.”
    WTO Deputy Director-General Xiangchen Zhang said: “Oman’s journey since 2000 shows how the multilateral trading system can underpin bold diversification and outward-looking reform.”  
    Underscoring the relevance of the 13th China Round Table, DDG Zhang noted: “These round tables have supported many acceding countries in their journeys, and we expect that they will continue to make further progress for the rest of the year. Eight members of the Arab League remain outside the WTO and seven of them have been negotiating, on average, for twenty years. … These numbers speak of untapped potential – potential that accession can unlock by anchoring domestic reforms, attracting investment and fostering regional integration. … Pragmatic solutions, creative flexibilities and targeted technical assistance can minimize years of negotiations and deliver concrete development dividends.”
    The Round Table addressed the state of play of current accession negotiations in the context of preparations for the 14th WTO Ministerial Conference (MC14), to be held in March 2026, with Ethiopia and Uzbekistan stating that they intend to complete their accession processes by MC14. The discussion also highlighted the need to better leverage technical assistance and capacity-building activities to support both accession efforts and new members’ participation in the WTO.
    Participants also explored the role of the private sector in facilitating WTO accession and promoting regional integration. A dedicated session on Oman’s economic diplomacy provided insights into how trade can contribute to economic resilience, long-term peace and sustainable prosperity.
    Acceding governments and interested WTO members meet annually at the China Round Table to discuss the integration of new economies into the rules-based multilateral trading system. Of the 22 members of the League of Arab States, 14 are WTO members, seven are currently undertaking the accession process, and one has held observer status in WTO ministerial conferences since 2005.
    More information on the 13th China Round Table is available here.
    The China Round Tables are among the activities of the China Programme, which supports and finances activities under six pillars:
    An accessions internship programme at the WTO
    Annual China Round Tables on WTO accessions
    Increasing participation of LDCs in WTO meetings
    South-South dialogue on LDCs and development
    Follow-up workshops to LDCs’ Trade Policy Reviews
    An LDC Experience Sharing Programme.
    More information on WTO accessions can be found here.

    Share

    MIL OSI Economics –

  • MIL-OSI Russia: China to Continue Contributing to Global Health – Chinese Delegation at 78th WHA Session

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian –

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

    GENEVA, May 19 (Xinhua) — The Chinese delegation to the 78th World Health Assembly (WHA) shared China’s latest achievements in health and contributions to global health governance at a press conference on May 17, reaffirming the country’s commitment to building a community of hygiene and health for all mankind.

    China adheres to the principle of “people and life come first,” Lei Haichao, head of the National Health Commission and head of the Chinese delegation, said on Saturday, announcing the implementation of 18 major programs across the country as part of a comprehensive public health strategy, the “Healthy China” initiative.

    According to the head of the Chinese delegation, the average life expectancy of the Chinese population increased to 79 years in 2024, and maternal and infant mortality rates reached a historical low.

    Lei Haichao stressed that China has been actively participating in global health governance, continuously contributing Chinese wisdom and strength to building a community of health and well-being for all mankind. He said China is firmly committed to multilateralism and firmly supports the central and coordinating role of the World Health Organization (WHO) in global health matters.

    Lei Haichao added that China welcomes WHO’s internal reforms aimed at enhancing efficiency and better serving Member States, and is willing to participate in this process through financial and personnel support.

    Regarding the proposal related to Taiwan, Chen Xu, Permanent Representative of the People’s Republic of China to the UN Office at Geneva and other international organizations in Switzerland, reiterated China’s consistent and clear position at a press conference that Taiwan’s participation in the WHA should be in strict accordance with the one-China principle established by UN General Assembly Resolution 2758 and WHA Resolution 25.1.

    “We firmly oppose any proposals related to Taiwan,” Chen Xu said. He stressed that in line with the one-China principle, the central government has taken appropriate measures for Taiwan’s participation in global health affairs. Over the past year, 12 experts from Taiwan have been approved to participate in WHO technical activities in 11 teams. Chen Xu noted that any technical exchanges involving Taiwan that are in line with the one-China principle can proceed without hindrance. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: China is transforming from the world’s factory into a global innovation center – Chinese Ambassador to Russia Zhang Hanhui

    Translation. Region: Russian Federal

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

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

    Moscow, May 19 /Xinhua/ — China has demonstrated impressive success in scientific research and technological development in recent years, turning from the world’s factory into a global innovation center, said Chinese Ambassador to Russia Zhang Hanhui.

    “The prototype of the quantum computer “Zu Chongzhi 3.0” on superconductors set a new world record for quantum advantage performance. In the global AI industry, the DeepSeek model proved that size does not always matter, refuting the principle of “the bigger, the better.” Yushu Technology has become a leader in the production of four-legged robots, occupying about 70 percent of the world market. All these achievements testify to the high level of technological development of China,” the ambassador noted in an article published on Monday in the Russian newspaper “Trud.”

    “There are 26 scientific and technological innovation clusters in the country, which are among the top 100 in the world, confirming China’s status as one of the economies with the fastest growth in innovation activity over the past decade,” the diplomat writes, citing data on funding for research and development (R&D). In this indicator, China has moved into second place in the world: its share of R&D expenditure has reached 2.68 percent of GDP. China occupies a leading position both in the number of international patent applications filed through the PCT (Patent Cooperation Treaty) procedure and in the number of applications to the Hague System for the Registration of Industrial Designs.

    “In the field of strategic high technologies, significant results have been achieved: the Chang’e-6 mission collected samples from the far side of the Moon for the first time in the world; the Earth’s Crust 1 drilling rig drilled a hole 10,000 meters deep; the Fendouzhe manned deep-sea vehicle dived more than 10,000 meters underwater; and the world’s first fourth-generation nuclear power plant was put into operation,” the ambassador lists.

    According to him, China has formed a “comprehensive ecosystem of the AI industry, covering all levels: from basic technologies and infrastructure to models and application solutions.” In the field of AI, there are more than 400 “small giants” – fast-growing innovative companies, which is about 10 percent of their total number in the world.

    “The success of companies like Huawei, BYD and DeepSeek proves that China is transforming from the world’s factory into a global innovation hub,” Zhang Hanhui emphasizes in his article. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Open cooperation and joint use of scientific and technological achievements benefit all mankind – Chinese Ambassador to Russia Zhang Hanhui

    Translation. Region: Russian Federal

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

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

    Moscow, May 19 (Xinhua) — China is confidently advancing scientific and technological progress through open cooperation, promoting common development by sharing innovative achievements. These activities are aimed at stimulating global sustainable development and modernization of the world, according to an article by Chinese Ambassador to Russia Zhang Hanhui, which was published in the Russian newspaper Trud on Monday.

    “The Belt and Road Initiative is implementing a program to support scientific and technological innovation. More than 10,000 young scientists and engineers from countries participating in the initiative have completed short-term internships and exchanges of experience in China. More than 70 joint laboratories have been created, as well as 10 international centers for technology transfer for countries in the Arab world, ASEAN, etc. These measures are aimed at strengthening the scientific and technological potential of the above-mentioned countries, as well as stimulating economic growth and improving the standard of living of their populations,” the diplomat writes.

    China is actively promoting its approaches to global governance in science and technology, he notes. A global scientific research fund has been established. Initiatives on global governance of artificial intelligence, global data security, international scientific and technological cooperation, and international cooperation in open science have been consistently presented, which are designed to establish the principles of openness, honesty, fairness, and non-discrimination in international scientific and technological innovation.

    “These initiatives propose to solve global problems through cooperation in scientific innovation, promote peaceful development and build a global scientific and technological community,” Zhang Hanhui emphasizes.

    He points out that China, as a responsible power, has taken on the mission of promoting global green transformation. China is actively cooperating with more than 100 countries and regions in green energy projects. “This cooperation is aimed at ensuring the availability of technologies and the creation of a global ecological civilization,” the diplomat writes.

    “Practice shows that the policy of breaking ties and disconnecting chains, as well as erecting barriers, only slows down scientific and technological progress around the world, harms the development of global industry and exacerbates inequality between countries. Openness, inclusiveness, mutual benefit and sharing of achievements are the key principles of successful international cooperation in science and technology. Real scientific and technological innovations sooner or later overcome regional and state borders, becoming a beacon illuminating the path to the progress of human civilization,” the Chinese Ambassador to the Russian Federation notes in his article. -0-

    MIL OSI Russia News –

  • MIL-OSI Europe: Written question – Lysine 1 – P-001590/2025

    Source: European Parliament

    Priority question for written answer  P-001590/2025/rev.1
    to the Commission
    Rule 144
    Asger Christensen (Renew)

    • 1.Does the Commission agree that lysine is a feed additive that is necessary for livestock health and growth, as well as for reducing soya consumption, nitrogen emissions and, potentially, consumption of antibiotics?
    • 2.Does the Commission similarly agree that no additional costs should be imposed on European livestock production and that access to lysine at competitive prices is vital?
    • 3.EU self-sufficiency in lysine is low: only one firm produces about 20% of what is consumed. Accordingly, can the Commission say whether anti-dumping duties on lysine from China have resulted in higher production costs in the EU, alternative markets being unable to meet demand?

    Submitted: 22.4.2025

    Last updated: 19 May 2025

    MIL OSI Europe News –

  • MIL-OSI Asia-Pac: SCMA visits Egypt to promote development opportunities in GBA

    Source: Hong Kong Government special administrative region

    SCMA visits Egypt to promote development opportunities in GBA 
         During his stay in the Egyptian capital, Cairo, Mr Tsang met the Chinese Ambassador to Egypt, Mr Liao Liqiang, and exchanged views with representatives of the political and business sectors.
     
         Mr Tsang attended today (May 19) the Guangdong-Hong Kong-Macao Greater Bay Area – Africa (Egypt) Economic and Trade Cooperation Exchange Conference and delivered a speech to promote the development opportunities of the GBA to the political and business sectors.
     
         Mr Tsang said that with the full support from the Central Authorities, the Hong Kong Special Administrative Region and other GBA cities complement each other’s strengths and work closely together to promote the GBA’s high-quality development. Hong Kong possesses the institutional advantages of “one country, two systems”, with a business environment that is highly market-oriented and internationalised, underpinned by the rule of law, a free flow of capital, a robust financial regulatory regime, a simple and low tax regime, and a global pool of professional talent. He encouraged enterprises to capitalise on Hong Kong’s unique advantages of having the staunch support of the motherland and being closely connected to the world by establishing a foothold in the city and tapping into the huge market of the GBA.
     
         Mr Tsang added that Hong Kong, as a world-renowned metropolis and China’s most internationalised city, should play its unique roles and functions as a “super connector” and “super value-adder”, commence more international co-operation, contribute to the country’s high-quality opening up and development, and further enhance its global influence in the changing international landscape.
     
         Mr Tsang will depart for Hong Kong this afternoon (Egypt time) and arrive on May 20.
    Issued at HKT 19:35

    NNNN

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Customs Commissioner meets Minister of General Administration of Customs (with photos)

    Source: Hong Kong Government special administrative region

    Customs Commissioner meets Minister of General Administration of Customs Issued at HKT 20:46.

    A high-level meeting between Hong Kong Customs and the General Administration of Customs of the People’s Republic of China (GACC) was held in Hong Kong yesterday (May 18). The Hong Kong Customs delegation was headed by the Commissioner of Customs and Excise, Mr Chan Tsz-tat, while the Mainland Customs delegation was headed by the Minister of the GACC, Ms Sun Meijun.

    Mr Chan welcomed Ms Sun’s visit to Hong Kong Customs with her delegation and chaired the meeting. During the meeting, Mainland Customs and Hong Kong Customs exchanged views on further deepening co-operation between the two customs administrations.

    After the meeting, witnessed by Ms Sun and the Acting Secretary for Security, Mr Michael Cheuk, Mr Chan and the Director General in Shenzhen Customs District, Mr Zheng Jugang, signed the memorandum regarding the point-to-point express co-operation and liaison between Shenzhen and Hong Kong Land Boundary Control Points. The signing of the memorandum further strengthens the information sharing and co-ordination mechanism at land boundary control points between the customs authorities on both sides, and enhances the efficiency of cross-boundary flow of people and cargo between Shenzhen and Hong Kong.

    The GACC delegation yesterday also visited the West Kowloon Station of the Guangzhou-Shenzhen-Hong Kong Express Rail Link to learn about Hong Kong Customs’ passenger clearance operations.

    The GACC delegation this morning (May 19) also attended the 26th World Customs Organization (WCO) Asia/Pacific (A/P) Regional Heads of Customs Administrations Conference held by Hong Kong Customs, in the capacity of the WCO Vice-Chair for the A/P Region.

    Ends/Monday, May 19, 2025
    Issued at HKT 20:46

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: R&M Trading LLC Issues Allergy Alert on Undeclared Milk in R&M Refresher Instant Milk Tea Powder

    Source: US Department of Health and Human Services – 3

    Summary

    Company Announcement Date:
    May 18, 2025
    FDA Publish Date:
    May 19, 2025
    Product Type:
    Food & Beverages
    Reason for Announcement:

    Recall Reason Description
    Undeclared milk

    Company Name:
    R&M Trading LLC
    Brand Name:

    Brand Name(s)
    RM Refresher

    Product Description:

    Product Description
    Instant Milk Tea Powder

    Company Announcement
    R&M Trading LLC of Lakewood, WA is recalling approximately 408 packages (1lb. pack per package) and 1624 packages (3/1lb. packs per package) of Instant Milk Tea powder products because they may contain undeclared milk . People who have an allergy or severe sensitivity to milk run the risk of serious or life-threatening allergic reaction if they consume this product.
    The R&M Refresher brand Instant Milk Tea products are recalled because the ingredients statement declares Whey and Caseinate in Non-Dairy Creamer ingredients, but it does not specify milk.
    The following Instant Milk Tea products are sold in 1lb. plastic pouch on Amazon website between 11/18/2024 and 05/07/2025.
    No illnesses have been reported to date.

    Amazon ASIN Number
    Product
    Expiration Date

    B0D725TXQW
    Brown Sugar Flavor Instant Milk Tea by RM Refresher (1-Pack/llb.)
    12/15/2025

    B0D72FQVDR
    Brown Sugar Flavor Instant Milk Tea by RM Refresher (3-Pack/3I b.)
    12/15/2025

    B0D7269JC1
    Honeydew Flavor Instant Milk Tea by RM Refresher (1-Pack/llb.)
    12/15/2025

    B0D726K269
    Honeydew Flavor Instant Milk Tea by RM Refresher (3-Pack/3I b.)
    12/15/2025

    B0D71Y85TG
    Matcha Flavor Instant Milk Tea by RM Refresher (1-Pack/llb.)
    12/15/2025

    B0D71YBV1X
    Matcha Flavor Instant Milk Tea by RM Refresher (3-Pack/3I b.)
    12/15/2025

    B0D71YHZX4
    Original Flavor Instant Milk Tea by RM Refresher (1-Pack/llb.)
    12/15/2025

    B0D72BLQRW
    Original Flavor Instant Milk Tea by RM Refresher (3-Pack/3I b.)
    12/15/2025

    B0D72CMLBH
    Taro Flavor Instant Milk Tea by RM Refresher (1-Pack/llb.)
    12/15/2025

    B0D72D6589
    Taro Flavor Instant Milk Tea by RM Refresher (3-Pack/3I b.)
    12/15/2025

    The recall was initiated after it was discovered during an inspection conducted by the U.S. FDA Office of Global Policy and Strategy in China that products containing milk were distributed in packaging that did not reveal the presence of milk.
    Consumers who have purchased affected products are urged not to consume the product and to return it to the place of purchase for a full refund.
    Consumers with questions may contact the company at imars.yang@qq.com .
    This recall is being made with the knowledge of the U.S. Food and Drug Administration.

    Company Contact Information

    Product Photos

    Content current as of:
    05/19/2025

    Regulated Product(s)

    Follow FDA

    MIL OSI USA News –