NewzIntel.com

Category: China

  • MIL-OSI Asia-Pac: 15th National Games Basketball (Men’s U22) test event to be held this weekend

    Source: Hong Kong Government special administrative region

         The 15th National Games (NG) Basketball (Men’s U22) test event will be held at the Hong Kong Coliseum in Hung Hom on April 26 and 27 (Saturday and Sunday), with an aim to prepare for the official events of the NG to be staged in November this year.
     
         The test event will be held from 2pm to 6.30pm on both days, with the participation of four basketball teams, namely Hong Kong A1 Division Championship basketball teams Hong Kong Eastern, Winling and Tycoon, as well as the Hong Kong Men’s U22 representative team. Admission tickets have been distributed through the Basketball Association of Hong Kong, China and the Eastern Sports Club. Those who possess a ticket may enter the venue for the event upon completion of a security check starting from 12.30pm on the event days.
     
         The test event is organised by the National Games Coordination Office (Hong Kong) and co-organised by the Basketball Association of Hong Kong, China and the Eastern Sports Club, with the Chinese Basketball Association as advisor.
     
    Radio Television Hong Kong (RTHK) will provide a live webcast of the two-day event (RTHK weblink: www.rthk.hk/nationalgames and RTHK YouTube channel: www.youtube.com/RTHK).
     
         For information on the 15th NG, the 12th National Games for Persons with Disabilities and the 9th National Special Olympic Games in Hong Kong, please visit the thematic website (www.2025nationalgames.gov.hk/en/index.html), as well as the Facebook page (www.facebook.com/2025nationalgames.hk) and Instagram page (www.instagram.com/2025nationalgames.hk).

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: MOEA Showcases 18 Cutting-Edge Innovations to Accelerate Taiwan’s AI Smart Vehicle Industry at E-Mobility Taiwan

    Source: Republic of China Taiwan

    The Ministry of Economic Affairs (MOEA) unveiled 18 breakthrough R&D achievements today at the “TARC Pavilion” during 2025 E-Mobility Taiwan Exhibition. In collaboration with 28 industry partners, the showcased technologies spotlight Taiwan’s advancements in AI integration and electrification for smart mobility. The initiative emphasizes not only research excellence but also real-world industrial applications-demonstrating Taiwan’s growing influence in the global smart vehicle ecosystem.

    With AI technology rapidly reshaping mobility, this year’s TARC Pavilion focuses on autonomous driving innovations. A highlight of the showcase is the “Level 3 AI self-driving and cybersecurity Integration” developed by the Automotive Research & Testing Center (ARTC), which brings together the expertise of local leaders including Elan, oToBrite, ASUS, DFI, Arcadyan, Chimei Automotive, and Rotatech. This system combines AI-enabled smart driving, intelligent cockpit monitoring, and cybersecurity, and has powered the world’s first Level 3 autonomous electric bus certified under UN R157 regulation-marking a significant step toward safer, smarter mobility.

    The integrated system enables advanced features such as self-navigation, lane changing, and obstacle avoidance. It also includes real-time driver monitoring using facial and posture recognition. If a driver becomes unresponsive, the vehicle safely pulls over and alerts backend operators. With OTA (over-the-air) update capabilities and robust cybersecurity, the system is positioned to lead Taiwan’s smart vehicle supply chain onto the international stage.

    Another highlight is the Industrial Technology Research Institute’s (ITRI) “Smart Charging Management and Dispatch System,”which has revolutionized electric bus charging methods. Representing a global first in applying fleet charging and dispatch to smart city energy management, this AI-powered solution optimizes power usage and spatial efficiency at depots, as successfully demonstrated in collaboration with Chung Hsing Bus Company and applied at Taipei’s Beitou Shilin Technology Park Depot, Taiwan’s largest electric bus operation center. It enables flexible charging schedules based on each vehicle’s battery level, route, and timetable-significantly reducing electricity contract demand, saving approximately 30% in manpower and operating costs, and extending battery lifespan. The system also features AI-based remote monitoring to prevent risks like overheating or short circuits, thereby boosting overall fleet efficiency.

    Both technologies received 2025 Edison Awards, a testament to Taiwan’s innovation prowess in the global smart mobility arena.

    In addition, CMC (China Motor Corporation) presented the ET35, Taiwan’s first mass-produced 3.5-ton intelligent electric commercial vehicle. Designed and manufactured entirely with components sourced from local suppliers-with a localization rate of over 90%-the ET35 features domestically developed ADAS Level 2, vehicle-to-everything (V2X) communication, and cloud-based data integration. This all-in-one solution supports enterprise-level decarbonization and smart logistics, and is slated for mass production in Q3 2025.

    The TARC Pavilion will run through April 26 on the 4th floor of Hall 1, Taipei Nangang Exhibition Center. Visitors from industry, government, and academia are welcome to explore the forefront of Taiwan’s smart mobility innovation at E-Mobility Taiwan.

    MIL OSI Asia Pacific News –

  • MIL-OSI Europe: Answer to a written question – Anti-dumping measures for titanium dioxide imports – E-000983/2025(ASW)

    Source: European Parliament

    Implementing Regulation (EU) 2025/4[1] imposing a definitive anti-dumping duty on imports of titanium dioxide from China entered into force on 10 January 2025.

    The impact on the costs of production of paints and coatings and of printing inks producers was calculated based on the detailed information reported by three users active in these industries, which included data on their costs of production and sources of supply of titanium dioxide.

    This and other data showed that the measures will not have a significant impact on paints and coatings industry, but that they could have a bigger impact on printing inks producers.

    While it was necessary to protect the EU producers of titanium dioxide from dumped imports, as they were already loss-making, the duties were ultimately set as fixed amount per kilogram instead of a percentage rate to lessen the impact of duties on all users, while titanium dioxide used in production of white printing inks was allowed to be exempted from duties.

    The Implementing Regulation will remain in force until 11 January 2030. Before that date, the EU producers of titanium dioxide may submit a substantiated request to the Commission to investigate if the measures should be extended for another five years.

    In addition, after 11 January 2026, any interested party or a Member State could request a review of the measures, if a significant change in circumstances of a lasting nature occurred since their imposition.

    • [1] https://eur-lex.europa.eu/eli/reg_impl/2025/4/oj/eng
    Last updated: 24 April 2025

    MIL OSI Europe News –

  • MIL-OSI Russia: Polytechnic and BRU strengthen the technological sovereignty of the Union State

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    The visit of the Polytechnic University delegation to the Republic of Belarus continues. At the site of the strategic partner of SPbPU, the Belarusian-Russian University (Mogilev), several events related to the joint activities of our universities are currently taking place. The leaders of the Polytechnic University, which coordinates the activities of Slavic universities within the framework of the national project, were met at BRU with traditional hospitality – a loaf of bread and salt.

    BRU Rector Mikhail Lustenkov welcomed his Russian colleagues: “Our cooperation with the St. Petersburg Polytechnic University has long been truly warm and productive. I can say with confidence that we do not have such a multifaceted and strategically important partnership with any other university. Today we have a wonderful opportunity to personally show you what results we have achieved thanks to our joint work. The Comprehensive Program for the Development of Slavic Universities plays a special role in our development, within the framework of which your support is invaluable to us. Polytechnic is not just a partner, but a reliable ally in the pursuit of development and improvement.”

    The official meeting of SPbPU Rector Andrey Rudskoy, Vice-Rector for International Affairs Dmitry Arsenyev and Director of the Institute of Mechanical Engineering, Materials and Transport Anatoly Popovich with BRU Rector Mikhail Lustenkov and key vice-rectors was devoted to the prospects for expanding cooperation in the main areas of partnership, including the creation of innovative joint educational programs, the development of research infrastructure and the training of professional personnel for high-tech sectors of the Union State economy.

    “We have found the right interaction and the basis for Slavic unity in the field of education. Unique laboratories have been created in Belarus, students study together, and are distributed to enterprises in both countries. This is a very correct and important symbiosis, reflecting the most important role of Slavic universities. Our partnership in welding technologies is of particular importance. You have strong developments, and we have exclusive methods, for example, electron beam and vacuum welding. For Russia, as a powerful shipbuilding center, training welders is an urgent task. We are ready to share high-tech solutions and adopt your practical experience. In addition, we are united by intelligent control systems, digital technologies, supercomputer centers and modeling. Without this, modern science and industry are impossible. I am sure that together we can strengthen both sides,” Andrey Rudskoy emphasized.

    A landmark event was the signing of an agreement to launch a unique joint network bachelor’s degree program “Artificial Intelligence in Technical Systems”. This four-year program was developed by joint efforts of specialists from the Higher School of Cyber-Physical Systems Management of SPbPU and the Department of Software of BRU. It should become a flagship project in training new generation specialists. Already at the development stage, the program aroused significant interest not only among Russian and Belarusian applicants, but also among students from China, which indicates its international demand.

    “This visit is the next stage of our strategic partnership. Within the walls of the Belarusian-Russian University, we see not only modern laboratories, but also a special atmosphere of joint creativity. We were particularly impressed by the achievements of our Belarusian colleagues in training engineering personnel and organizing the educational process. We see significant potential for expanding joint educational programs and scientific research,” said Dmitry Arsenyev.

    This is not the first network program launched by the two universities. Since 2022, SPbPU and BRU have been implementing a network bachelor’s degree program in the field of “Foreign Regional Studies”. From April 21 to 25, five students of the Higher School of International Relations of the Humanitarian Institute of SPbPU are undergoing an internship at BRU. The students were selected based on the results of the essay competition “25 years of the Union State: history, achievements and future goals of Russia and Belarus”. The educational program at BRU includes lectures (“Culture of Belarus: traditions and modernity”, “The main stages of the development of philosophical thought in Belarus”, “Society in Belarus: features and development”, etc.) and a cultural program. In parallel with the student internship, Associate Professor of the Polytechnic University Alexey Vovenda held master classes for BRU students on organizing research activities within the framework of the field of “Foreign Regional Studies”. Since 2022, a total of 19 SPbPU students and 29 BRU students have been trained within the network program.

    Getting acquainted with the university infrastructure allowed the SPbPU delegation to evaluate the achievements of the joint laboratory of intelligent robotics and cyber-physical systems. In it, students and teachers of the two universities successfully implement projects in the field of digital twins of industrial facilities and predictive analytics systems. The delegation was especially interested in practical solutions for remote monitoring of critical facilities using artificial intelligence technologies. In the robotics laboratory, guests were shown how to remotely connect to production lines and control robots located at different points.

    No less productive was the visit to the Department of Technosphere Safety, where the industrial internship program for master’s students of the “Environmental Safety in Industry” program of SPbPU has been successfully implemented for the third year. A unique methodology for studying the impact of radionuclides on the environment, developed by Belarusian colleagues, complements the educational programs of the St. Petersburg university with an important practical component. The internship has been held since 2022. During this time, 15 Polytechnic students have completed it. And just this week, another internship program for three more students of the Civil Engineering Institute is ending at the experimental sites and in the laboratories of the Department of Technosphere Safety.

    At the Department of Welding Equipment and Technologies, guests were presented with advanced developments in the field of additive and welding technologies. In this area, BRU is rightfully considered a unique platform in the Republic of Belarus. The only Certification and Testing Center in the Republic operates on the basis of the university, which carries out certification of welding equipment and materials, testing of welded samples and structures, training, certification and certification of welders, and develops and qualifies welding processes.

    Director of IMMiT Anatoly Popovich supported the rector of SPbPU, noting that the key area of cooperation between the universities should be interaction in the field of advanced production technologies, in particular powder metallurgy and welding processes. He emphasized that BRU has unique practical experience in the field of high-tech welding, including automatic, thick-plate and argon-arc welding, and is ready to actively share these developments with colleagues from the Polytechnic University.

    The Higher School of Materials Physics and Technology of SPbPU (Professor Sergey Parshin) has been collaborating with this BRU department since 2021. The partners jointly conduct scientific research, supervise postgraduate students and give lectures. The center discussed the possibilities of developing cooperation. In particular, organizing network interaction between the Polytechnic University, BRU, institutes of the Russian Academy of Sciences and the National Academy of Sciences, and creating a Competence Center for Welding Technologies on the basis of BRU.

    As part of the activities to coordinate the activities of Slavic universities, this week SPbPU experts are holding a project-analytical session to prepare a development program for the Belarusian-Russian University for 2026-2030. The session focused on developing a common understanding among the BRU team of the university’s target model, strategic development goals, and ways to achieve them.

    SPbPU experts — Vice-Rector for Personnel Policy Maria Vrublevskaya, Head of the Project Office “Slavic Universities” Nikita Golovin and expert of the Department of Strategic Planning and Development Tatyana Morina. They shared their experience in implementing the Priority-2030 program, proposing innovative approaches to transforming the university into an educational hub. The main vector of BRU development is maintaining the model of an engineering university with an emphasis on close cooperation with industry. This is necessary for sustainable regional development, as well as in the interests of Belarus, Russia and the Union State as a whole.

    Maria Vrublevskaya shared the results of the project-analytical session: “Despite serious restrictions related to state frameworks, as well as difficulties in developing human capital, the university demonstrated impressive results. Investments were implemented effectively: growth points are fully equipped, strong teams were formed, and best practices reached the level of sustainable development. Now the team is at the peak of intellectual potential, and although the strategy for further development until 2030 is yet to be determined, it is already obvious that the invested resources have produced a significant effect.”

    The results of the visit confirmed that the cooperation between SPbPU and BRU has reached a qualitatively new level, combining fundamental academic traditions with advanced educational technologies. Joint projects in the field of artificial intelligence, cyber-physical systems and technosphere safety not only strengthen the scientific and technical potential of the two countries, but also create the basis for the formation of a single educational space and increasing the technological sovereignty of the Union State.

    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.

    MIL OSI Russia News –

  • MIL-OSI: Radware Announces Extraordinary General Meeting

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Israel, April 24, 2025 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, today announced that an Extraordinary General Meeting of Shareholders (the ”Extraordinary General Meeting” or the “Meeting”) will be held on Thursday, May 29, 2025, at 8:00 a.m. (EST), at the offices of Radware Inc., 575 Corporate Drive, Mahwah, N.J. 07430, U.S.A. The record date for the Meeting is April 25, 2025.

    The agenda of the Meeting is: (1) to approve grants of equity-based awards to, and modifications in the structure of the annual bonus of, the president and chief executive officer of the Company; and (2) transact such other business as may properly come before the Meeting or any postponement or adjournment thereof.

    Proposal 1, the proposal voted upon, requires the approval of a simple majority of the shares voted on the matter at the Meeting, either in person or by proxy; provided that either (i) the shares voted in favor of the proposal include at least a majority of the shares voted at the Meeting, either in person or by proxy, by shareholders who are not “controlling shareholders” and do not have a “personal interest” (as such terms are defined in the Israeli Companies Law, 5759-1999 (the “Companies Law”)) in such proposal or (ii) the total number of shares voted against such proposal by the disinterested shareholders described in clause (i) does not exceed 2% of the aggregate voting rights in the Company. As of the date hereof, the Company has no controlling shareholder within the meaning of the Companies Law.

    In the absence of the requisite quorum of shareholders at the Extraordinary General Meeting, the Extraordinary General Meeting shall be adjourned to the same day in the next week, at the same time and place, unless otherwise determined at the Extraordinary General Meeting in accordance with the Company’s Articles of Association.

    Additional Information and Where to Find It

    In connection with the Extraordinary General Meeting, Radware will make available to its shareholders of record a proxy statement describing the proposal to be voted upon at the Extraordinary General Meeting, along with a proxy card enabling them to indicate their vote on the matter. The Company will also furnish copies of the proxy statement and proxy card to the U.S. Securities and Exchange Commission (SEC) on Form 6-K, which may be obtained for free from the SEC’s website at www.sec.gov, the Company’s website at https://www.radware.com/ir/financial-info/ or by directing such request to the Company’s Investor Relations department at ir@radware.com.

    About Radware

    Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

    Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, X, and YouTube.

    ©2025 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

    Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

    The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

    Contacts
    Investor Relations:
    Yisca Erez, +972-72-3917211, ir@radware.com

    Media Contacts:
    Gerri Dyrek, gerri.dyrek@radware.com

    Safe Harbor Statement

    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, tensions between China and Taiwan, financial and credit market fluctuations (including elevated interest rates), impacts from tariffs or other trade restrictions, inflation, and the potential for regional or global recessions; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cybersecurity and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, or if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; our use of AI technologies that present regulatory, litigation, and reputational risks; risks related to the fact that our products must interoperate with operating systems, software applications and hardware that are developed by others; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns; our net losses in the past and the possibility that we may incur losses in the future; a slowdown in the growth of the cybersecurity and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; complications with the design or implementation of our new enterprise resource planning (“ERP”) system; our reliance on information technology systems; our ESG disclosures and initiatives; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

    The MIL Network –

  • MIL-OSI Asia-Pac: Paul Lam meets ASEAN-China body

    Source: Hong Kong Information Services

    Acting Chief Executive Paul Lam today met members of a visiting ASEAN-China Joint Cooperation Committee delegation.

    They discussed deepening co-operation between Hong Kong and the Association of Southeast Asian Nations (ASEAN) member states as well as issues of mutual concern.

    Mr Lam welcomed the delegation, noting that Hong Kong has maintained close trade and economic ties with ASEAN, with ASEAN being the city’s second-largest trading partner for a long time.

    He said the Hong Kong Special Administrative Region Government launched the Immigration Facilitation Scheme for Invited Persons last month, providing more convenient immigration arrangements for ASEAN invitees.

    The new measure promotes economic and trade exchanges as well as cultural co-operation between Hong Kong and ASEAN, furthering deepening ties between the two places, Mr Lam added.

    He also introduced Hong Kong’s advantages and development opportunities to the delegation members.

    He highlighted the city’s distinctive advantage of enjoying the motherland’s strong support while being closely connected to the world under the “one country, two systems” principle, and has long played the important role of a “super connector” and “super value-adder”.

    Furthermore, as the only common law jurisdiction in China, Hong Kong has the unique advantage of having a well-established legal system alongside top-tier legal and dispute resolution services.

    Mr Lam encouraged enterprises from ASEAN member states to leverage Hong Kong as a platform to explore overseas and Mainland markets through its professional services, thereby achieving mutual benefits.

    During the delegation’s visit to Hong Kong on April 23 and 24, members will meet Principal Officials, the Legislative Council (LegCo) President and representatives of other major institutions as well as visiting Super Terminal 1 and LegCo.

    MIL OSI Asia Pacific News –

  • MIL-OSI Russia: Development of the digital economy and trends in the investment and construction process: the conference “Current problems of economics and management in construction” has ended

    Translation. Region: Russian Federal

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – At the section of young scientists

    On April 17–18, the III National (All-Russian) Scientific and Practical Conference “Current Problems of Economics and Management in Construction” was held at SPbGASU, organized by the Faculty of Economics and Management.

    In total, 120 reports were heard during the two days of the event. Both representatives of SPbGASU and scientists from other universities, including from the Republic of Belarus, Uzbekistan and Kyrgyzstan, took an active part in the work of the section.

    The first day of the conference was marked by the holding of a section of young scientists “First steps in economic science”, in which students of the St. Petersburg Technical College of Management and Commerce (SPb TKuIC), the Russian State Pedagogical University named after A. I. Herzen (RSPU named after A. I. Herzen), Moscow Automobile and Road State Technical University (MADI), as well as representatives of student science from SPbGASU took part.

    At the opening of the young scientists’ section, Dean of the Faculty of Economics and Management Galina Tokunova noted the importance of participation in scientific events of students of secondary education institutions and called for further cooperation of colleges with SPbGASU in scientific and educational processes. Deputy Dean of the Faculty of Economics and Management for Research Yuri Tsvetkov gave a report “Involvement of Young Scientists in Scientific Activity”, highlighting the incentives and rewards that await young researchers in the course of active scientific work.

    The key topics of the section were the development of the digital economy, as well as modern trends in the functioning of the investment and construction process. Victoria Filippova, a student of St. Petersburg TCUiK, prepared a report “Optimization of supply chain management using digital financial assets: opportunities and prospects”, having examined in detail legislative initiatives in this area, the advantages of using this tool in supply chain management and the stages of implementation in logistics processes.

    Daniil Velichko, a student at St. Petersburg TCUiK, presented a report entitled “The Digital Economic Miracle of Russia,” highlighting the advantages of the digital transformation of the economy and assessing the level of digital skills among Russian citizens. In addition, Daniil showed a video about the digital economy prepared by college students.

    The section focused on the research conducted by students of the Herzen State Pedagogical University of Russia – representatives of the People’s Republic of China. Bi Yanwen conducted a comparative analysis of investments in infrastructure development in China and Russia, Xu Yijie compared the current state of the real estate market in the two countries, Chang Jiangshuai spoke about the principles of sustainable development in the construction sector, Lu Haoran studied the issues of antitrust regulation in China, Hao Boyuan presented the main challenges and prospects for the rational use of limited resources in the context of China’s rapid economic growth.

    The conference traditionally had four main sections: “Language training for future professionals”, “Economics of construction and housing and communal services: trends and prospects”, “Economic security: experience, problems, prospects” and “Current issues of management in construction”.

    The conference organizing committee selected the following reports.

    Researchers Evgeny Rossokha and Anastasia Frantsuzova from the Republic of Belarus focused on the ESG orientation of the Belarusian housing policy, which includes housing affordability, improvement of the local area and renovation.

    Vladislav Buchi, a representative of Peter the Great St. Petersburg Polytechnic University, made a presentation on the prospects for the development of multi-story industrial warehouse facilities in an urban format, which is very relevant in the context of the development of urban areas in St. Petersburg due to the acute shortage of warehouse complexes in the region.

    The research of the Master’s student of the Department of Construction Economics and Housing and Public Utilities Daria Batyreva was devoted to the current issues of managing the cost of construction projects in the field of construction production and design; the work highlighted particularly important and complex areas that attract the attention of all specialists in the field of project management.

    The curator of the section “Economic Security: Experience, Problems, Prospects”, Associate Professor of the Department of Economic Security Vladislav Uskov noted that this section has become a unique platform for exchanging opinions in the field of protecting the economic interests of the state and business, economic security and risk assessment. In particular, fourth-year student Meri Kopaleishvili presented a report on the topic “Digital Transformation of Development: Innovative Technologies and Marketing Strategies as a Factor of Sustainability in Conditions of Economic Instability”, Ksenia Danshina prepared a study “External Debt as a Threat to the Financial Security of the State”. A researcher from Peter the Great St. Petersburg Polytechnic University touched upon the problems and prospects of economic security and artificial intelligence.

    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.

    MIL OSI Russia News –

  • MIL-OSI Russia: Honoring History, Looking to the Future: GUU Strengthens Russian-Chinese Cooperation

    Translation. Region: Russian Federal

    Source: State University of Management – Official website of the State –

    On April 22, 2025, the Institute of China and Modern Asia of the Russian Academy of Sciences and the Russian Center for the Study and Research of Xi Jinping’s Thought on Socialism with Chinese Characteristics in a New Era, with the support of the Chinese Embassy in Russia, held a round table on the topic “Joint Implementation of the Three Global Initiatives to Build a Community of Shared Future for Humanity.” The event was attended by Fanis Sharipov, Director of the Center for Socio-Economic and Political Studies of China at the State University of Management.

    The event took place at the Chinese Cultural Center with the participation of Russian and Chinese business circles, orientalists and other distinguished guests.

    The first to speak was Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to the Russian Federation Zhang Hanhui. Then, reports were presented by the First Deputy Chairman of the International Affairs Committee of the Federation Council Andrei Denisov, Director of the Institute of China and Modern Asia of the Russian Academy of Sciences Kirill Babaev, Chairman of the Union of Chinese Entrepreneurs in Russia, Deputy Chairman of the Chinese-Russian Friendship Society Zhou Liqun and other representatives of Russian and Chinese business circles, orientalists and honored guests.

    The State University of Management was represented by the Director of the Center for Socio-Economic and Political Research of China Fanis Sharipov, who noted in his speech that on December 18, 2024, a seminar on the topic “The Leader of China in My Eyes – Initiative of Global Civilization in the Form of a Presentation of the 4th Volume of Xi Jinping’s Book “On Public Administration” was held within the walls of our university, and on February 28 of this year, the State University of Management and Renmin Huabao held a round table on the topic “High-Quality Development of the Chinese Economy” on the eve of the next congress of the National People’s Congress of the People’s Republic of China in the Moscow office of the respected publishing house.

    Following the round table, a collection of studies on the implementation of the global development initiative, the global security initiative, and the global civilization initiative will be published.

    On April 23, 2025, at the invitation of the Russian-Chinese Friendship Society, students and teachers of the Russian-Chinese program “International Manufacturing Business” took part in the opening ceremony of the Chinese-Russian photo exhibition “Nobody is Forgotten, Nothing is Forgotten” dedicated to the 80th anniversary of the Great Victory. The event was organized by the Europe and Asia Broadcasting Center of the People’s Republic of China Foreign Language Literature Publication and Distribution Administration (Renmin Huabao Publishing House) and the Russian-Chinese Friendship Society.

    The following speakers spoke at the opening of the exhibition: Feng Litao, Minister-Counselor of the Embassy of the People’s Republic of China in the Russian Federation, Director of the Chinese Cultural Center in Moscow; Galina Kulikova, First Deputy Chairperson of the Russian-Chinese Friendship Society; Yu Jia, Deputy Editor-in-Chief of the Center for Broadcasting to Europe and Asia of the PRC Office of Publication and Distribution of Literature in Foreign Languages; Zhou Shenko, Editor-in-Chief of the Shandong Broadcasting Corporation.

    Subscribe to the TG channel “Our GUU” Date of publication: 04/24/2025

    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.

    MIL OSI Russia News –

  • MIL-OSI China: Announcement on Open Market Operations No.78 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.78 [2025]

    (Open Market Operations Office, April 24, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB218 billion through quantity bidding at a fixed interest rate on April 24, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.50%

    RMB218 billion

    RMB218 billion

    Date of last update Nov. 29 2018

    2025年04月24日

    MIL OSI China News –

  • MIL-OSI China: China adopts multiple measures to boost support for private companies

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

    BEIJING, April 24 — China is implementing a series of targeted measures to foster a favorable environment for private enterprises and promote growth in the private sector, said an official with the country’s top economic planner.

    These initiatives focus on easing financing constraints, boosting investment, promoting trade, enhancing talent development and encouraging innovation, said Liu Min, deputy head of the private economy development bureau under the National Development and Reform Commission, during the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency.

    The private sector plays a key role in China’s economy, making up more than 90 percent of all businesses nationwide and contributing to over 70 percent of the country’s technological innovation. In February this year, the country held a high-level symposium on private enterprises, signaling strong support for the sector.

    Liu said China is taking concrete steps to strengthen legal protection for its private sector, with legislative work on the private economy promotion law accelerating. This draft legislation, set to become China’s first fundamental law dedicated to the private sector, has already undergone two reviews by Chinese lawmakers.

    China also encourages greater private sector participation in major national projects and programs, Liu added. To address the issue of overdue payments, the country will tighten punitive measures against defaulters, with a particular focus on payments owed to private enterprises.

    Liu highlighted efforts to strengthen communication with private enterprises. A comprehensive service platform for private sector development, launched in December, has recorded 180,000 visits over the past four months. By the end of March, the platform had received nearly 2,000 submissions from private firms, raising matters such as policy recommendations, access to production factors, overdue payments and intellectual property disputes.

    Each submission is dealt with via a structured workflow process of collection, handling, feedback and follow-up, in an effort to respond to the concerns of private companies, Liu said.

    MIL OSI China News –

  • MIL-OSI China: Philippines’ provocations undermine common interests of regional countries: Defense Spokesperson 2025-04-24 “The Philippines frequently conducted the so-called joint patrols and exercises, and invited and deployed strategic and tactical weapons, seriously undermining the common interests of regional countries,” said a Chinese defense spokesperson on Thursday.

    Source: People’s Republic of China – Ministry of National Defense 2

      BEIJING, April 24 — “The Philippines frequently conducted the so-called joint patrols and exercises, and invited and deployed strategic and tactical weapons, seriously undermining the common interests of regional countries,” said a Chinese defense spokesperson on Thursday.

      Senior Colonel Zhang Xiaogang, spokesperson for China’s Ministry of National Defense, made the remarks at a regular press conference when asked to comment on the recent exercises conducted by the US, the Philippines and other countries.

      According to media report, the US, the Philippines and other countries are conducting Exercise Balikatan. As part of the exercise, the US military has, for the first time, deployed anti-ship missile system to the Luzon Strait north of the Philippines. Some analysts believe that this is to simulate the blockade of the Bashi Channel during a crisis in the Taiwan Strait. Previously, the Philippines and the US also organized Exercise Cope Thunder.

      “We always hold that military cooperation between countries should not target or hurt the interests of any third party, nor should it jeopardize regional peace and stability. The South China Sea should be a sea of peace, cooperation and friendship,” said Snr. Col. Zhang.

      “However, the Philippines holds a candle to the devil by currying favor and colluding with the US and other outside countries,” he said.

      The spokesperson stressed that the Chinese side firmly opposes any country using Taiwan question as an excuse to strengthen regional military deployment and stir up tension and confrontation.

      “Regardless of external challenges and turbulence, China will resolutely safeguard its territorial sovereignty and maritime rights and interests, and firmly maintain peace and stability in the region,” said the spokesperson.

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    MIL OSI China News –

  • MIL-OSI China: China-Egypt Eagles of Civilization 2025 joint air force training deepens cooperation between two militaries: Defense Spokesperson 2025-04-24 “This will help enhance technical and tactical capabilities of the two air forces and deepen substantive cooperation between the Chinese and Egyptian militaries,” said Senior Colonel Zhang Xiaogang.

    Source: People’s Republic of China – Ministry of National Defense 2

      BEIJING, April 24 — “This will help enhance technical and tactical capabilities of the two air forces and deepen substantive cooperation between the Chinese and Egyptian militaries,” said Senior Colonel Zhang Xiaogang, spokesperson for China’s Ministry of National Defense, at a regular press conference on Thursday. 

      The spokesperson made the above remarks when being asked to introduce the tactical and strategic outcomes of the on-going China-Egypt Eagles of Civilization 2025 joint air force training. 

      The spokesperson said that Eagles of Civilization 2025 joint air force training is the first joint training between the Chinese and Egyptian armed forces. The two sides deployed fighter jets, AEW&Cs, tankers and helicopters to the event. Drills on air combat and air refueling began on April 19, and subjects of air support and battlefield search and rescue will also be covered. 

      “The joint training will run until early May. The Chinese PLAAF aircraft will train in collaboration with assets of the Egyptian Air Force. This will help enhance technical and tactical capabilities of the two air forces and deepen substantive cooperation between the Chinese and Egyptian militaries,” added the spokesperson. 

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    MIL OSI China News –

  • MIL-OSI China: China issues first batches of 2025 special treasury bonds

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

    BEIJING, April 24 — China on Thursday issued this year’s first batches of ultra-long special treasury bonds and special treasury bonds designed to support large state-owned commercial banks in replenishing capital.

    According to this year’s government work report, a total of 1.3 trillion yuan (about 180.31 billion U.S. dollars) of ultra-long special treasury bonds will be issued, 300 billion yuan more than in 2024, while 500 billion yuan of special treasury bonds will be issued to support large state-owned commercial banks in replenishing capital.

    The first phase of ultra-long special treasury bonds worth 50 billion yuan was issued on Thursday, featuring a term of 20 years and a coupon rate of 1.98 percent.

    The second phase of ultra-long special treasury bonds worth 71 billion yuan, with a 30-year term and a coupon rate of 1.88 percent, was also issued on Thursday.

    These ultra-long special treasury bonds will facilitate the implementation of major national strategies and enhance security capacity in key areas, as well as support a new round of large-scale equipment upgrades and consumer goods trade-in programs.

    Industry experts believe this is conducive to releasing domestic investment and consumption demands.

    On Thursday, China also issued 165 billion yuan of special treasury bonds designed for supporting large state-owned commercial banks in replenishing capital, with a term of five years and a coupon rate of 1.45 percent.

    The issuance of these bonds will help banks to consolidate and enhance their stable operation capabilities and high-quality development, industry experts said.

    MIL OSI China News –

  • MIL-OSI China: China enhances IP protection for AI technology: official

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

    BEIJING, April 24 — China will expedite its efforts to strengthen intellectual property (IP) protection in the field of AI to support the rapid development of this technology, the country’s top IP official said on Thursday.

    More efforts will be devoted to establishing IP protection regulations for AI and other emerging technologies, said Shen Changyu, head of the China National Intellectual Property Administration (CNIPA). This initiative aims to provide guidance and services for AI enterprises while actively engaging in global AI governance to improve international rules and standards.

    Noting the recent advancements in AI innovation, Shen said that CNIPA has implemented measures to keep pace with the rapid progress in this field. He cited the issuance of guidelines aimed at addressing AI-related invention patent applications, establishing quick patent review channels, and efforts to combat the malicious squatting of trademarks related to the chatbot DeepSeek.

    According to the World Intellectual Property Organization, China has emerged as the leading country in terms of AI-related patent holdings globally, accounting for 60 percent of the world total.

    “The development of AI in China is showing a sound momentum,” Shen said during a press conference, emphasizing that AI serves as a key driver of the new round of technological revolution and industrial transformation.

    In recent years, China has also witnessed a significant rise in IP applications and has become a global leader in international patent applications.

    According to the CNIPA, it is exploring the application of large AI models to further enhance the quality and efficiency of the patent examination.

    MIL OSI China News –

  • MIL-OSI China: China, Kenya elevate ties as Xi, Ruto hold talks

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

    BEIJING, April 24 — China and Kenya decided on Thursday to elevate their ties to a China-Kenya community with a shared future for the new era.

    The decision was made during talks between Chinese President Xi Jinping and Kenyan President William Ruto in Beijing.

    Xi said that elevating bilateral relations to a China-Kenya community with a shared future for the new era is a strategic choice for both sides.

    MIL OSI China News –

  • MIL-OSI China: Send-off ceremony held for Chinese astronauts of Shenzhou-20 mission

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

    Chinese astronauts Chen Dong (C), Chen Zhongrui (R) and Wang Jie attend a send-off ceremony at the Jiuquan Satellite Launch Center in northwest China on April 24, 2025. A send-off ceremony for the three Chinese astronauts of the Shenzhou-20 crewed space mission was held here on Thursday, according to the China Manned Space Agency. [Photo/Xinhua]

    JIUQUAN, April 24 — A send-off ceremony for the three Chinese astronauts of the Shenzhou-20 crewed space mission was held on Thursday at the Jiuquan Satellite Launch Center in northwest China, according to the China Manned Space Agency.

    Chinese astronauts Chen Dong (C), Chen Zhongrui (R) and Wang Jie attend a send-off ceremony at the Jiuquan Satellite Launch Center in northwest China on April 24, 2025. [Photo/Xinhua]
    Chinese astronauts Chen Dong (C), Chen Zhongrui (R) and Wang Jie attend a send-off ceremony at the Jiuquan Satellite Launch Center in northwest China on April 24, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: Scientists from multiple countries granted access to China’s Chang’e-5 lunar samples for research

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

    Scientists from multiple countries granted access to China’s Chang’e-5 lunar samples for research

    SHANGHAI, April 24 — The China National Space Administration (CNSA) announced on Thursday that scientists from institutions in France, Germany, Japan, Pakistan, the United Kingdom (UK) and the United States (U.S.) have been granted the opportunity to borrow lunar samples collected by the Chang’e-5 mission for scientific research.

    At a ceremony for China’s Space Day in Shanghai, the agency announced that seven institutions from six countries have been authorized to borrow the lunar samples.

    The authorized institutions include the Institut de Physique du Globe de Paris (IPGP) in France, the University of Cologne in Germany, Osaka University in Japan, the Pakistan Space and Upper Atmosphere Research Commission (SUPARCO), the Open University in the UK, Brown University in the US, and the State University of New York at Stony Brook in the US.

    In 2020, China’s Chang’e-5 mission retrieved samples from the moon weighing about 1,731 grams.

    Shan Zhongde, head of the CNSA, said China’s lunar exploration program has always adhered to the principles of equality, mutual benefits, peaceful utilization and win-win cooperation, sharing achievements with the international community.

    He added that CNSA will continue to accept international applications for lunar sample research, expressing hope that global scientists will make new discoveries that expand human knowledge and benefit humanity.

    In November 2023, CNSA opened applications for international researchers to borrow Chang’e-5 lunar samples. By the end of December 2023, it had received 24 applications from 11 countries and international organizations.

    MIL OSI China News –

  • MIL-OSI China: China invites int’l partners to Tianwen-3 Mars sample-return mission

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

    SHANGHAI, April 24 — The China National Space Administration (CNSA) on Thursday announced opportunities for international cooperation on the Tianwen-3 Mars sample-return mission, inviting global partners to jointly advance Mars exploration and research, thereby expanding humanity’s understanding of the red planet.

    The Tianwen-3 mission, a significant part of China’s planetary exploration program, is scheduled for launch around 2028, according to CNSA.

    At a ceremony for Space Day of China held in Shanghai, CNSA announced that the Tianwen-3 spacecraft will allocate 20 kilograms of resources for international collaboration.

    The Tianwen-3 spacecraft comprises a lander, an ascent vehicle, a service module, an orbiter and a return module, and it is equipped with six scientific payloads.

    The orbiter will operate in a circular Martian orbit at an altitude of about 350 kilometers, and has a designed lifespan of no less than five years. The service module will operate in a highly elliptical orbit, conducting in-orbit exploration for approximately two Martian years with a designed lifespan of no less than five years.

    For this mission, the CNSA is offering international cooperation payload resources including no more than 15 kilograms on the orbiter and up to 5 kilograms on the service module. Detailed technical specifications are available on the official CNSA website.

    It will take two launches to carry out the Mars sample-return mission due to the limited carrying capacities of the current rockets. Two Long March-5 carrier rockets will be used for the mission, Liu Jizhong, chief designer of China’s Mars sample-return mission, said in an earlier interview.

    The primary scientific goal of the mission will be to search for signs of life. Other exploration subjects will include the Martian climate and its evolution, Martian geology and the planet’s internal processes.

    The retrieval of samples from Mars is the most technically challenging space exploration mission since the Apollo program, and no such retrieval has ever been accomplished, Liu said.

    MIL OSI China News –

  • MIL-OSI China: China to launch Chang’e-8 lunar mission around 2029, collaborating with int’l partners

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

    China to launch Chang’e-8 lunar mission around 2029, collaborating with int’l partners

    SHANGHAI, April 24 — The China National Space Administration (CNSA) revealed Thursday that the Chang’e-8 lunar probe is scheduled for launch around 2029, and will carry payloads from 11 countries and regions and one international organization as part of international cooperation.

    The announcement was made at the opening ceremony for 2025 Space Day of China, which is celebrated annually on April 24.

    The Chang’e-8 mission will target the Leibnitz-Beta Plateau near the lunar south pole region, working with the earlier Chang’e-7 mission to conduct scientific exploration and in-situ resource utilization experiments. These efforts will lay the groundwork for the future International Lunar Research Station.

    According to CNSA, the 10 selected collaborative projects include a multi-functional robot designed by researchers in Hong Kong, a lunar rover developed by Pakistan and the International Society for Terrain-Vehicle Systems (ISTVS), an exploration rover made by Türkiye, and radio astronomical instruments by South Africa and Peru.

    The projects also include Italy’s laser retroreflector arrays, Russia’s plasma and dust analyzer and high-energy particle detector, Thailand’s neutron analyzer, Bahrain and Egypt’s lunar surface imaging system, and Iran’s lunar potential monitor.

    Shan Zhongde, head of CNSA, said China will work closely with international partners to achieve new scientific discoveries and technological breakthroughs that will ultimately benefit all of humanity.

    CNSA announced in October 2023 international cooperation opportunities for Chang’e-8 lunar mission, which offered 200 kilograms of payload resources for global partners. A total of 41 cooperation proposals were received.

    MIL OSI China News –

  • MIL-OSI China: China cracks down on marine pollution, ecological damage

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

    BEIJING, April 24 — China will launch a nationwide campaign to strengthen oversight of its marine resources and environment, targeting pollution and ecological degradation in key coastal and offshore areas, the China Coast Guard (CCG) announced Thursday.

    The campaign, jointly initiated by the CCG and several other government departments, will run from April 25 to November 25 with a focus on emerging marine industries and critical environmental protection issues, according to the statement.

    Authorities will conduct targeted inspections across a broad range of activities — including shoreline modifications, new sea-use projects, offshore oil exploration, sea dumping, and undersea cable and pipeline construction, as well as conservation efforts concerning representative marine ecosystems and protected maritime zones.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: New Director General of the Bureau of Industrial Parks, MOEA, Mr. Chih-Ching Yang, outlines three core visions to drive park optimization and innovation.

    Source: Republic of China Taiwan

    The Bureau of Industrial Parks (BIP) under the Ministry of Economic Affairs (MOEA) held an inauguration and oath-taking ceremony for BIP’s new Director General on March 26. The ceremony was presided over by MOEA Vice Minister Chien-Hsin Lai, during which outgoing Acting Director General Chi-Chuan Liu handed over the official seal to incoming Director General Chih-Ching Yang. Director General Yang will continue to lead efforts in upgrading and transforming technology industrial parks and industrial parks, with a strong focus on sustainable operations and effective management.
    Director General Yang holds a master’s degree in business administration from the National Taiwan University of Science and Technology. He began his public service career at the grassroots level in industrial services. He has served as Division Director and Deputy Director General of the Industrial Development Bureau, Chief Secretary of the MOEA, and most recently as Director-General of the Industrial Development Administration. Known for his solid academic background, strong execution skills, and proactive leadership, Director General Yang has led the Industrial Development Administration team of MOEA’s renowned “steel battalion” in advancing key initiatives such as amendments to the Industrial Innovation Act, industrial value enhancement, medical supply preparedness during the pandemic, and the dual transformation toward smart and low-carbon development. He is widely recognized in the industry as a key force in promoting sustainable park development.
    The Bureau of Industrial Parks oversees 80 parks across Taiwan. Vice Minister Lai encouraged the bureau to continue pursuing three major tasks: providing high-quality industrial spaces to support the “Five Trusted Industries”; advancing the “Extraterritorial Equivalent to Domestic” policy to expand Taiwan’s industrial reach; and implementing the “Balanced Taiwan” strategy to deepen local industrial clusters, thereby accelerating economic policy implementation.
    Director General Yang stated that building on existing foundations, he will drive optimization and innovation in park development through three core visions:
    Smart – Promoting AI integration across industries
    Safe – Creating secure and high-quality investment environments
    Sustainable – Developing low-carbon, green, and sustainable parks
    He emphasized the importance of public-private collaboration, listening to industry voices, and leveraging government support resources to create industrial bases aligned with the needs of emerging technologies. These efforts aim to accelerate industrial development and ensure the long-term sustainability of the parks.

    Spokesman: Mr. Liu Chi-Chuan (Deputy Director General, BIP)
    Contact Number: 886-7-3613349, 0911363680
    Email: lcc12@bip.gov.tw

    Contact Person: Hsiao, Yi-Chen (Personnel Office, BIP)
    Contact Number: 886-7-3611212 ext. 639
    Email: hs0218@bip.gov.tw

    MIL OSI Asia Pacific News –

  • MIL-OSI: Flow Traders 1Q 2025 Trading Update

    Source: GlobeNewswire (MIL-OSI)

    Flow Traders 1Q 2025 Trading Update

    Amsterdam, the Netherlands – Flow Traders Ltd. (Euronext: FLOW) announces its unaudited 1Q 2025 trading update.

    Highlights

    • Flow Traders recorded Net Trading Income of €140.2m and Total Income of €135.1m in 1Q25, an increase of 10% and 4% when compared to €127.1m and €129.6m in 1Q24, respectively.
    • Flow Traders’ ETP Value Traded increased by 24% in 1Q25 to €507bn from €409bn in 1Q24.
    • Fixed Operating Expenses were €50.8m in the quarter, an increase of 15% when compared to the €44.1m in 1Q24, due mostly to increased employee and technology expenses.
    • Total Operating Expenses were €72.7m in 1Q25, an increase of 7% when compared to the €67.9m in 1Q24, due to higher Fixed Operating Expenses.
    • EBITDA was €62.3m in the quarter, an increase of 1% when compared to €61.6m in 1Q24. EBITDA margin was 46% in 1Q25 vs. 48% in 1Q24.
    • Net Profit came in at €36.3m in 1Q25, yielding a basic EPS of €0.84 and diluted EPS of €0.82, a 21% decrease compared to a Net Profit of €45.9m, basic EPS of €1.05, and diluted EPS of €1.04 in 1Q24.
    • Trading Capital stood at €803m at the end of 1Q25, a 32% and 4% increase from €609m and €775m at the end of 1Q24 and 4Q24, respectively, and generated a 68% return on average trading capital1.
    • Shareholders’ equity was €787m at the end of 1Q25, compared to €631m at the end of 1Q24 and €767m at the end of 4Q24.
    • Flow Traders employed 619 FTEs at the end of 1Q25, compared to 601 at the end of 1Q24 and 609 at the end of 4Q24.

    Leadership Update

    In a separate release today, Flow Traders announced that Mike Kuehnel has conveyed to the Board his intention not to seek re-election as CEO for another full term at the 2025 AGM. He will leave Flow Traders at the end of August of this year, to pursue a new opportunity. To ensure a seamless leadership transition, Mike has agreed to be nominated for re-election as CEO at the upcoming AGM on 13 June 2025, his renewed term extending until 31 August 2025. The Board has initiated a search for his successor.

    Furthermore, Marc Jansen will be nominated for election as Executive Director of Flow Traders Ltd. and in addition, Marc Jansen and Alex Kieft will be appointed as Co-Chief Trading Officers, effective immediately.

    Financial Overview

    €million 1Q25 1Q24 Change YTD25 YTD24 Change
    Net trading income 140.2 127.1 10% 140.2 127.1 10%
    Other income (5.1) 2.5 NM (5.1) 2.5 NM
    Total income 135.1 129.6 4% 135.1 129.6 4%
    Revenue by region2            
    Europe 79.9 68.5 17% 79.9 68.5 17%
    Americas 11.4 41.3 (72%) 11.4 41.3 (72%)
    Asia 43.7 19.9 120% 43.7 19.9 120%
    Fixed employee expenses 24.3 20.7 18% 24.3 20.7 18%
    Technology expenses 17.4 15.8 10% 17.4 15.8 10%
    Other expenses 9.1 7.7 19% 9.1 7.7 19%
    Fixed operating expenses 50.8 44.1 15% 50.8 44.1 15%
    Variable employee expenses 22.0 23.8 (8%) 22.0 23.8 (8%)
    Total operating expenses 72.7 67.9 7% 72.7 67.9 7%
    EBITDA 62.3 61.6 1% 62.3 61.6 1%
    Interest expenses 0.4 – NM 0.4 – NM
    Lease expenses 0.5 0.6 (8%) 0.5 0.6 (8%)
    Depreciation & amortisation 4.7 4.3 11% 4.7 4.3 11%
    Impairment of intangible assets 10.5 – NM 10.5 – NM
    Profit/(loss) on equity-accounted investments (1.8) (0.4) 375% (1.8) (0.4) 375%
    Profit before tax 44.3 56.4 (21%) 44.3 56.4 (21%)
    Tax expense 8.0 10.6 (24%) 8.0 10.6 (24%)
    Net profit 36.3 45.9 (21%) 36.3 45.9 (21%)
    Basic EPS3 (€) 0.84 1.05 (21%) 0.84 1.05 (21%)
    Fully diluted EPS4 (€) 0.82 1.04 (21%) 0.82 1.04 (21%)
    EBITDA margin 46% 48%   46% 48%  

    Revenue by Region

    €million 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25
    Europe 58.5 33.1 33.6 42.6 68.4 48.6 70.2 86.9 79.9
    Americas 32.8 9.3 22.0 18.1 41.3 13.4 20.8 18.2 11.4
    Asia 19.2 9.0 12.1 13.6 19.9 14.2 23.6 53.8 43.7

    Value Traded Overview

    €billion 1Q25 1Q24 Change YTD25 YTD24 Change
    Flow Traders ETP Value Traded 507 409 24% 507 409 24%
    Europe 245 152 61% 245 152 61%
    Americas 213 229 (7%) 213 229 (7%)
    Asia 49 27 81% 49 27 81%
    Flow Traders non-ETP Value Traded 1,217 1,146 6% 1,217 1,146 6%
    Flow Traders Value Traded 1,724 1,555 11% 1,724 1,555 11%
    Equity 861 819 5% 861 819 5%
    FICC 774 691 12% 774 691 12%
    Other 89 45 100% 89 45 100%
    Market ETP Value Traded5 14,425 11,981 20% 14,425 11,981 20%
    Europe 882 597 48% 882 597 48%
    Americas 11,065 9,965 11% 11,065 9,965 11%
    Asia 2,478 1,419 75% 2,478 1,419 75%
    Asia ex China 645 439 47% 645 439 47%

    Trading Capital

      1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25
    Trading Capital (€m) 647 574 585 584 609 624 668 775 803
    Return on Avg Trading Capital1 67% 65% 56% 49% 50% 58% 62% 69% 68%
    Average VIX7 21.0 16.7 15.1 15.4 13.9 14.2 17.1 17.3 18.5

    Market Environment

    Europe

    Equity trading volumes in the quarter across major exchanges saw meaningful increases when compared to the same period a year ago, while market volatility also increased . Fixed Income trading volumes on MTFs increased slightly compared to the same period a year ago.

    Americas

    Equity trading volumes in the U.S. increased compared to the same period a year ago, but at a much lower level when compared to the other regions, while market volatility increased. Fixed Income trading volumes in the U.S. also increased slightly when compared to the same period a year ago, while volatility declined.

    Asia

    Equity trading volumes in Asia were mixed as Hong Kong and China saw significant increases while Japan experienced declines when compared to the same period a year ago. Market volatility increased across the board in Hong Kong, China and Japan when compared to the same period a year ago.

    Digital Assets

    Within Digital Assets, which trades across regions on a 24/7 basis, trading volumes in cryptocurrencies increased when compared to the same period a year ago. However, net fund flows into cryptocurrency ETFs declined significantly compared to a year ago given the spot Bitcoin ETF launches in the U.S. in January 2024.

    Outlook

    Fixed operating expenses guidance for the year remains unchanged and is expected to be in the range of €190-210m given additional technology investments and targeted additions of subject matter experts in growth areas, partially offset by expected operational efficiency gains.

    CEO Statement

    Mike Kuehnel, CEO
    “Flow Traders posted a strong set of results in the first quarter, with the strength in the Equity segment in Europe and Asia in the quarter offsetting the lower contribution from Digital Assets when compared to the first quarter of 2024. The results serve as further confirmation of our diversification strategy and our ability to capture opportunities as they arise. The 68% return on average trading capital in the quarter also further validates our strategic decision to retain more profits to reinvest back into the company under the Trading Capital Expansion Plan, announced in July last year.

    During the quarter, market trading volumes increased meaningfully across Europe and Asia given the macroeconomic uncertainty raised by the prospect of tariffs from the U.S. and the potential impact to the global economy. Volumes were particularly elevated in Hong Kong and China given the continued investor interest in China following the stimulus unveiled by the government in the fourth quarter of last year. Similarly, volumes increased meaningfully in Europe given the market outperformance, as investors looked to rotate their investments given the seismic geopolitical shift in the U.S. and its ramifications on Europe. The Americas had a more muted quarter when compared with the other regions as we allocated more of our capital to regions with greater dislocations. Regardless of where the activities were in the quarter, Flow Traders continued to provide liquidity to our counterparty base and was able to leverage trading opportunities given the breadth of our global trading operation.

    In Digital Assets, while the value of cryptocurrencies pulled back post the U.S. presidential inauguration, we continue to see positive sentiment shifts by regulators in not only the U.S. but also in places like Hong Kong, Japan and Korea. The first Consensus conference in Asia, held in Hong Kong in February, demonstrated the increasing institutional interest and adoption of digital assets and the underlying technology in the region. As one of the earliest adopters, Flow Traders remains instrumental in providing liquidity to this asset class on a 24/7 basis and bridging the gap between traditional finance and digital assets ecosystems.

    Looking forward to the rest of 2025, we remain committed to enhancing our trading capabilities by strategically investing in cutting-edge technology and talent. This approach aligns seamlessly with our growth and diversification strategy. We anticipate that these investments, coupled with our Trading Capital Expansion Plan, will drive top-line growth for the firm over time.”

    Preliminary Financial Calendar

    13 June 2025                AGM
    31 July 2025                1H25 Results

    Analyst Conference Call and Webcast

    The 1Q25 trading update analyst conference call will be held at 10:00 am CEST on Thursday 24 April 2025. The presentation can be downloaded at https://www.flowtraders.com/investors/results-centre and the conference call can be followed via a listen-only audio webcast. A replay of the conference call will be available on the company website for at least 90 days.

    Contact Details

    Flow Traders Ltd.

    Investors
    Eric Pan
    Phone:         +31 20 7996799
    Email:        investor.relations@flowtraders.com

    Media
    Laura Peijs
    Phone:         +31 20 7996799
    Email:        press@flowtraders.com

    About Flow Traders

    Flow Traders is a leading trading firm providing liquidity in multiple asset classes, covering all major exchanges. Founded in 2004, Flow Traders is a leading global ETP market marker and has leveraged its expertise in trading European equity ETPs to expand into fixed income, commodities, digital assets and FX globally. Flow Traders’ role in financial markets is to ensure the availability of liquidity and enabling investors to continue to buy or sell financial instruments under all market circumstances, thereby ensuring markets remain resilient and continue to function in an orderly manner. In addition to its trading activities, Flow Traders has established a strategic investment unit focused on fostering market innovation and aligned with our mission to bring greater transparency and efficiency to the financial ecosystem. With over two decades of experience, we have built a team of over 600 talented professionals, located globally, contributing to the firm’s entrepreneurial culture and delivering the company’s mission.

    Notes

    1. Return on average trading capital defined as LTM NTI divided by the average of the prior and current end of period trading capital.
    2. Revenue by region includes NTI, Other Income, and inter-company revenue.
    3. Weighted average shares outstanding: 1Q25 – 43,394,080; 4Q24 – 43,066,302; 1Q24 – 43,515,359.
    4. Determined by adjusting the basic EPS for the effects of all dilutive share-based payments to employees.
    5. Source – Flow Traders analysis.
    6. Starting in 3Q24, average VIX is calculated as the average of VIX daily closing prices.

    Important Legal Information

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    Attachment

    The MIL Network –

  • MIL-Evening Report: Back to the fuel guzzlers? Coalition plans to end EV tax breaks would hobble the clean transport transition

    Source: The Conversation (Au and NZ) – By Anna Mortimore, Lecturer, Griffith Business School, Griffith University

    wedmoment.stock/Shutterstock

    If elected, the Coalition has pledged to end Labor’s substantial tax break for new zero- or low-emissions vehicles.

    This, combined with an earlier promise to roll back new fuel efficiency standards, would successfully slow the transition to hybrid and battery electric vehicles (EVs).

    The Albanese government pitched these tax breaks as a way to make EVs cheaper to buy and more competitive with internal combustion engine cars. Since the tax break came in, EV popularity has surged. Almost 100,000 people have taken out a novated lease on an EV between mid-2022, when the scheme began, and February 2025.

    The Coalition has been consistently critical of the tax breaks on cost grounds. The scheme has been far more popular than government forecasts envisaged, leading to concerns about a cost blowout. Rather than the A$55 million forecast for 2024-25, the scheme has cost ten times that – $560 million. EV buyers are much more likely to be wealthy, meaning the tax break has been snapped up by people who need it less. The policy is, however, encouraging car suppliers to import more affordable EVs.

    These concerns don’t mean Labor’s policy is bad. Far from it – this tax break is currently the only policy working to drive down transport emissions, now the second-largest source of emissions in Australia. The Coalition has given no indication it would replace the EV tax break with other ways to cut transport emissions.

    Electric vehicles still cost more than their internal combustion engine counterparts.
    meowKa/Shutterstock

    What is this tax break – and did it work?

    In mid-2022, the Albanese government introduced a tax break to encourage uptake of electric vehicles. The measure initially covered hydrogen fuel-cell, battery-electric and plug-in hybrid vehicles, but plug-in hybrids are no longer eligible as of April 1.

    The tax break works by giving EV buyers who are current employees a fringe benefits tax exemption for low- or zero-emissions vehicles both held and used for private use. The fringe benefits tax is a flat tax of 47% levied on the car benefit provided by the employer. For the exemption to apply, the retail price of the car has to be under the threshold for the luxury car tax of $91,387.

    People in high incomes brackets often like to negotiate with their employer to have a car included as part of their salary package so they can reduce their taxable income. The fringe benefits tax is levied on these types of benefits.

    The scheme works by exempting purchasers of new EVs from fringe benefits tax. A battery electric Hyundai Kona retailed for around $60,000 last year – 32% more in price than its internal combustion engine equivalent. The fringe benefits tax of around $11,700 annually ends up being larger because of the EV’s high sale price. Without this exemption, the tax acts as a major disincentive for the uptake of EVs.
    By and large, electric vehicles cost significantly more than their traditional counterparts. This price gap is dropping as new manufacturers enter the market, but it’s still there. While EVs have lower fuel costs, the higher upfront cost has put off many prospective buyers. This is the issue Labor’s tax exemption was intended to fix.

    Has the scheme worked? Overall, yes. In 2022, EVs accounted for just 3.3% of all new cars sold in Australia. By 2023, almost two-thirds of battery electric, vehicles were sold to private buyers, a 145% increase. And in 2024, the figure had almost tripled to 9.6%. Without this tax incentive, Australia’s uptake of EVs would most likely be much lower.

    If a future Coalition government ended the tax break, Australia would return to the pre-2022 era, where fringe benefits tax acted as a significant disincentive for EVs.

    The tax break isn’t perfect – but it’s better than nothing

    Australia’s main power grid now runs on an average of 40% clean energy. As a result, emissions have been tracking downward in these sectors. But transport emissions are still rising. Transport is now Australia’s second-largest source of emissions – almost 100 million tonnes (Mt) out of our total emissions of 434 Mt. By 2030, transport is projected to be the largest source of domestic emissions.

    Under the 2015 Paris Agreement, nations agreed at least 20% of light vehicles on their roads would be low- or zero-emissions by 2030. But Australia is lagging well behind the pack on the shift to cleaner transport.

    At present, just 1% of Australia’s car fleet is electric. Even EVs make up close to 10% of new sales, changing the makeup of the entire fleet (16.8 million) will take years.

    By contrast, almost 90% of new cars sold in Norway are electric, according to a 2024 report from the International Energy Agency. In China it’s just under 60%, Sweden it’s 60%, Netherlands 30%, the UK 25% and the United States 10%.

    These countries have used a combination of tax incentives and fuel efficiency regulations to drive rapid uptake. While Labor has moved to introduce both of these, progress hasn’t been as fast.

    Back to the fuel guzzlers?

    Australians rely heavily on cars. But the long lack of fuel efficiency standards mean many models sold here emit much more than in other OECD countries – 150 grams per kilometre versus 107 across 29 European Union nations as of 2023. Put another way, a new car in Australia uses 40% more fuel than its equivalent in the EU. Many drivers prefer big cars, such as the top-selling Ford Ranger.

    If the Coalition ends the tax break and pulls the teeth of new emissions standards, it would bring recent modest progress to a halt.

    The Coalition has rightly pointed out the inequity of the tax break as it stands. My research has shown this could be fixed. Throwing the scheme out without proposing another way to cut transport emissions is disheartening.

    Anna Mortimore receives funding from Reliable Affordable Clean Energy Cooperative Research Centre for 2030 (RACE for 2030).

    – ref. Back to the fuel guzzlers? Coalition plans to end EV tax breaks would hobble the clean transport transition – https://theconversation.com/back-to-the-fuel-guzzlers-coalition-plans-to-end-ev-tax-breaks-would-hobble-the-clean-transport-transition-255211

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Congressmen Auchincloss, Krishnamoorthi Request Investigation into Possible Sanctions Violations by Yantai iRay Technology Co.

    Source: United States House of Representatives – Representative Jake Auchincloss (Massachusetts, 4)

    April 01, 2025

    WASHINGTON, D.C. – Today, Congressman Jake Auchincloss (D-MA) and Ranking Member Raja Krishnamoorthi (D-IL) of the House Select Committee on the Strategic Competition Between the U.S. and the CCP sent a letter to Secretary of the Treasury Scott Bessent and Secretary of Commerce Howard Lutnick, requesting both departments investigate whether Yantai iRay Technology Co., Ltd. (“iRay”), a company in the People’s Republic of China (PRC) sanctioned by the Treasury Department, may be committing sanctions violations via a network of subsidiaries and directly related companies in the United States.

    Among these subsidiaries is iRayUSA, who after iRay’s sanctioning in May 2024 for supplying Russia-based end users with controlled, dual-use technology claimed to its U.S. distributors that “iRayUSA’s manufacturing partner is a separate entity” from iRay. However, government filings along with other publicly available information strongly suggest that iRayUSA’s contention is false and that it, along with InfiRay Outdoor, Visir Inc. (brand name RIX Optics), and Inlumen Technologies (brand name Nocpix) may be violating U.S. sanctions by continuing to sell and distribute iRay products in the United States. 

    Reps .Auchincloss and Krishnamoorthi write in the letter, “Given their subsidiary or other close relationship with iRay, InfiRay Outdoor, iRayUSA, Visir Inc., and Inlumen Technologies appear to potentially be in violation of U.S. sanctions. Your agencies should also consider whether the operations of these entities pose a national security risk to the United States given the dual-use nature of their products and the sensitive data obtained through them. Thermal technology is a critical enabler of lethality and capability on the modern battlefield, and PLA access to U.S. thermal sensor data could allow it to refine its own capabilities while degrading U.S. leadership in this field.”

    The Treasury Department imposed sanctions on iRay on May 1, 2024 for operating in the technology sector of the Russian Federation, including by supplying Russia-based end users with items like telescopic thermal sights and military thermal imagers controlled by the Department of Commerce’s Bureau of Industry and Security Common High Priority List. 

    “It is highly concerning that iRay, a company sanctioned for supporting Russia’s brutal and illegal invasion of Ukraine, appears to still be peddling its products in the United States through a shell game of U.S.-based subsidiaries,” said Ranking Member Krishnamoorthi. “In addition, iRay’s potential access to data from American users of its advanced targeting technologies could allow China’s military to dominate these capabilities at U.S. expense. We urge the Treasury and Commerce Departments to investigate this activity and appropriate enforcement actions.”

    “Federal authorities must enforce sanctions against Chinese & Russian military cooperation,” said Congressman Auchincloss. “Appeasement of one is weakness to another.”

    The members request the Treasury Department and Commerce Department provide them with a briefing on any information available to the departments regarding iRay and its subsidiaries by no later than April 11, 2025.

    ###

    MIL OSI USA News –

  • MIL-OSI: Dassault Systèmes and Airbus Extend Strategic Partnership to Use Virtual Twins for Next-Generation Programs

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    VELIZY-VILLACOUBLAY, France — April 24, 2025

    Dassault Systèmes and Airbus Extend Strategic Partnership to Use Virtual Twins for Next-Generation Programs

    • Dassault Systèmes’ 3DEXPERIENCE platform will be used across Airbus, company-wide, for all future generations of civil and military aircraft and helicopters
    • More than 20,000 users from every business area and the value chain will collaborate and use Dassault Systèmes’ virtual twins to improve efficiency, shorten development cycles and reduce costs
    • This is a key milestone in the digital transformation of Airbus’ ways of working and the preparation of the next generation of aerospace products

    Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) and Airbus have extended their long-term strategic partnership, putting the 3DEXPERIENCE platform at the heart of lifecycle management of all new Airbus programs for civil and military aircraft and helicopters.

    This deployment will support the entire development chain for all Airbus civil and military aircraft and helicopters. More than 20,000 users from every business area, as well as Airbus suppliers, will be able to collaborate more effectively and use virtual twins – on premise or on a sovereign cloud – to shorten development cycles, anticipate and improve production efficiency, and enhance aftersales support – all while reducing costs.

    “Digitalization is a key enabler that we are leveraging to support our core priorities, whether it is ramping up the production of our commercial aircraft, preparing the next generation of platforms that will further contribute to the decarbonization of our sector, or pioneering the defense and security solutions of tomorrow,” said Guillaume Faury, CEO, Airbus. “This renewed partnership with Dassault Systèmes will play an important role in accelerating our progress towards these goals, while ensuring the highest levels of quality, safety and security throughout the lifecycle of our products and solutions, from design to in-service operations.”

    “Our long history of collaboration with Airbus embarks on its next chapter, enabling the entire enterprise and its value chain to innovate globally, efficiently and virtually for decades to come. Airbus can take full advantage of AI-powered generative experiences, and scientific advances in material science, modeling, simulation, production and operation systems efficiency with our 3DEXPERIENCE platform. This will open new possibilities to imagine, create and produce the experiences that will define the future of the aerospace industry,” said Bernard Charlès, Executive Chairman, Dassault Systèmes.

    Dassault Systèmes will provide Airbus with seven industry solution experiences based on the 3DEXPERIENCE platform: “Program Excellence,” “Winning Concept,” “Co-Design to Target,” “Cleared to Operate,” “Ready for Rate,” “Build to Operate,” and “Keep Them Operating.”1  

    ###

    FOR MORE INFORMATION

    Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com

    ABOUT DASSAULT SYSTÈMES

    Dassault Systèmes is a catalyst for human progress.  Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens.  With Dassault Systèmes’ 3DEXPERIENCE platform, 370,000 customers of all sizes, in all industries, can collaborate, imagine and create sustainable innovations that drive meaningful impact.  For more information, visit:  www.3ds.com

    Dassault Systèmes Press Contacts
    Corporate / France        Arnaud MALHERBE        arnaud.malherbe@3ds.com        +33 (0)1 61 62 87 73
    North America        Natasha LEVANTI        natasha.levanti@3ds.com        +1 (508) 449 8097
    EMEA        Virginie BLINDENBERG        virginie.blindenberg@3ds.com        +33 (0) 1 61 62 84 21
    China        Grace MU        grace.mu@3ds.com        +86 10 6536 2288
    Japan        Reina YAMAGUCHI        reina.yamaguchi@3ds.com        +81 90 9325 2545
    Korea        Jeemin JEONG        jeemin.jeong@3ds.com        +82 2 3271 6653
    India        Priyanka PANDEY        priyanka.pandey@3ds.com        +91 9886302179

    1 The agreement between Dassault Systèmes and Airbus was signed in Q4 2024.

    Attachment

    The MIL Network –

  • MIL-OSI: Dassault Systèmes: Solid start to the year with strong subscription growth, EPS at the high end of guidance

    Source: GlobeNewswire (MIL-OSI)

    Press Release

    VELIZY-VILLACOUBLAY, France — April 24, 2025

    Dassault Systèmes: Solid start to the year with strong subscription growth, EPS at the high end of guidance

    Dassault Systèmes (Euronext Paris: FR0014003TT8, DSY.PA) today reports its IFRS unaudited estimated financial results for the first quarter 2025 ended March 31, 2025. The Group’s Board of Directors approved these estimated results on April 23, 2025. This press release also includes financial information on a non-IFRS basis and reconciliations with IFRS figures in the Appendix.

    Summary Highlights1  

    (unaudited, non-IFRS unless otherwise noted,
    all growth rates in constant currencies)

    • 1Q25: Software revenue increased by 5% driven by recurring revenue up 7%;
    • 1Q25: Strong subscription growth of 14%, bringing New business up 7%;
    • 1Q25: 3DEXPERIENCE software revenue growth of 17%;
    • 1Q25: Diluted EPS up 5% (6% as reported) to €0.32;
    • 1Q25: Cash flow from operations grew 21%, as reported, to €813 million (IFRS);
    • FY25: Full year objectives unchanged, total revenue growth of 6-8% and diluted EPS of €1.36-€1.39.

    Dassault Systèmes’ Chief Executive Officer Commentary

    Pascal Daloz, Dassault Systèmes’ Chief Executive Officer, commented:

    “In February this year we announced Gen 7, the new generation of representation of our customers’ virtual universes – we call it 3D UNIV+RSES. This seventh generation of MODSIM data, powered by AI and spatial computing, makes the 3DEXPERIENCE the next-generation platform for knowledge and know-how, establishing it as a global IP management platform. Early customer feedback confirms that platform-based AI leveraging virtual twins creates competitive advantage. 

    We’ve had a solid start to the year. In the first quarter, the Manufacturing Industries sector performed well led by Aerospace & Defense and High Tech, along with Transportation & Mobility in China, Japan and US. At the same time, we’re accelerating in Sovereign Infrastructure, where energy, security, and AI capabilities – through high-performance data centers – are becoming strategic imperatives for nations and territories.

    We are committed to being the trusted partner for our customers – helping them stay ahead, while strengthening our leadership position for the long term and raising barriers to entry.”

    Dassault Systèmes’ Chief Financial Officer Commentary

    (revenue, operating margin and diluted EPS (‘EPS’) growth rates in constant currencies,
    data on a non-IFRS basis)

    Rouven Bergmann, Dassault Systèmes’ Chief Financial Officer, commented:

    “In the first quarter, our revenue is driven by strong subscription growth of 14%. As a result, recurring revenue now represents 86% of software revenue, highlighting the resilience of our business model. Regarding operational efficiency, we reached the upper end of our EPS guidance and saw strong growth in operating cash flow, increasing by 21% as reported.

    Entering 2025, our approach was to provide a risk-adjusted financial outlook. Since then, the introduction of new tariffs has created a more volatile market environment, which could lead to longer decision-making cycles. That said, our pipeline remains solid, and our current visibility aligns with the midpoint of our full year guidance.

    Therefore, we keep our 2025 outlook of 6-8% total revenue growth and 7-10% EPS growth unchanged. In addition, we are slightly adjusting our operating margin target, expecting a year-over-year expansion of 50-70 basis points, versus 70-100 basis points prior, to gain additional flexibility and invest in Gen 7 to support our long-term growth.”

    Financial Summary

    In millions of Euros,
    except per share data and percentages    		   IFRS   Non-IFRS
      Q1 2025 Q1 2024 Change Change in constant currencies   Q1 2025 Q1 2024 Change Change in constant currencies
    Total Revenue   1,573.0 1,499.7 5% 4%   1,573.0 1,499.7 5% 4%
    Software Revenue   1,432.7 1,352.8 6% 5%   1,432.7 1,352.8 6% 5%
    Operating Margin   19.4% 21.6% (2.3)pts     30.9% 31.1% (0.2)pt  
    Diluted EPS   0.20 0.21 (9)%     0.32 0.30 6% 5%

    First Quarter 2025 Versus 2024 Financial Comparisons

    (unaudited, IFRS and non-IFRS unless otherwise noted,
    all revenue growth rates in constant currencies)

    • Total Revenue: Total revenue in the first quarter grew by 4% to €1.57 billion, and software revenue increased by 5% to €1.43 billion. Subscription & support revenue rose by 7%; recurring revenue represented 86% of software revenue, up 2 basis points versus last year. Licenses and other software revenue declined by 10% to €198 million. Services revenue was down 6% to €140 million, during the quarter.
    • Software Revenue by Geography: Revenue in the Americas increased by 7% to represent 43% of software revenue. This growth acceleration is driven by Aerospace & Defense, Transport & Mobility and High-Tech. Despite tariff uncertainty, Europe increased by 1%, led by good growth in Aerospace & Defense. Europe represented 36% of software revenue. In Asia, revenue increased by 5%, driven by India, Southeast Asia and Korea. Asia represented 22% of software revenue.
    • Software Revenue by Product Line:
      • Industrial Innovation software revenue increased by 8% to €793 million. This strong broad-based performance was led by CATIA, ENOVIA, DELMIA and NETVIBES. Industrial Innovation software represented 55% of software revenue.
    • Life Sciences software revenue was stable at €293 million, accounting for 20% of software revenue. MEDIDATA was impacted by continued CRO2 headwinds, while benefiting from the steady dynamic with Large Pharma and Mid-Market.
    • Mainstream Innovation software revenue increased by 2% to €347 million. SOLIDWORKS had a slow start to the year, but saw solid bookings and good momentum in 3DEXPERIENCE adoption. CENTRIC PLM was impacted by timing of renewals, after an exceptional year of growth in 2024. Mainstream Innovation represented 24% of software revenue, during the period.
    • Software Revenue by Industry: Aerospace & Defense, High Tech and Industrial Equipment were among the best performers during the quarter.
    • Key Strategic Drivers: 3DEXPERIENCE software revenue increased by 17%, driven by Aerospace & Defense, High Tech and Transportation & Mobility, along with opportunities in the sovereign infrastructure domain. 3DEXPERIENCE software revenue represented 39% of 3DEXPERIENCE eligible software revenue. Cloud software revenue grew by 7% and represented 25% of software revenue during the period. 3DEXPERIENCE Cloud software revenue increased by 41%.
    • Operating Income and Margin: IFRS operating income declined by 6% to €304 million, as reported. Non-IFRS operating income increased by 3% in constant currencies to €486 million (up 4% as reported). The IFRS operating margin stood at 19.4% compared to 21.6% in the first quarter of 2024. The non-IFRS operating margin totaled 30.9% versus 31.1% during the same period last year.
    • Earnings per Share: IFRS diluted EPS was €0.20, down 9% as reported. Non-IFRS diluted EPS grew to €0.32, up 6% as reported, or 5% in constant currencies.
    • Cash Flow from Operations (IFRS): Cash flow from operations totaled €813 million, an increase of 21% relative to the same period last year with strong cash collection. Cash flow from operations was principally used for the acquisition of ContentServ for €191 million (net of €11 million of cash acquired), repurchase of Treasury Shares for €80 million, repayment of debt for €59 million and €56 million for investments in CAPEX.
    • Balance Sheet (IFRS): Dassault Systèmes had a net cash position of €1.79 billion as of March 31, 2025, an increase of €0.33 billion, compared to €1.46 billion for the year ending December 31, 2024. Cash and cash equivalents totaled €4.24 billion at the end of March 2025.

    Financial Objectives for 2025

    Dassault Systèmes’ second quarter and 2025 financial objectives presented below are given on a non-IFRS basis and reflect the principal 2025 currency exchange rate assumptions for the US dollar and Japanese yen as well as the potential impact from additional non-Euro currencies:

               
          Q2 2025 FY 2025  
      Total Revenue (billion) €1.520 – €1.580 €6.567 – €6.667  
      Growth 2 – 6% 6 – 7%  
      Growth ex FX 3 – 7% 6 – 8%  
               
      Software revenue growth * 3 – 7% 6 – 8%  
        Of which licenses and other software revenue growth * (6) – 1% 2 – 6%  
        Of which recurring revenue growth * 5 – 8% 7 – 8%  
     

    Services revenue growth *

    3 – 7%

    		 4 – 6%  
               
      Operating Margin 29.8% – 29.9% 32.3% – 32.6%  
               
      EPS Diluted €0.30 – €0.31 €1.36 – €1.39  
      Growth (1) – 3% 7 – 9%  
      Growth ex FX 1 – 5% 7 – 10%  
               
      US dollar $1.10 per Euro $1.09 per Euro  
      Japanese yen (before hedging) JPY 155.0 per Euro JPY 156.4 per Euro  
      * Growth in Constant Currencies      

    These objectives are prepared and communicated only on a non-IFRS basis and are subject to the cautionary statement set forth below.

    The 2025 non-IFRS financial objectives set forth above do not take into account the following accounting elements below and are estimated based upon the 2025 principal currency exchange rates above: no significant contract liabilities write-downs; share-based compensation expenses, including related social charges, estimated at approximately €213 million (these estimates do not include any new stock option or share grants issued after March 31, 2025); amortization of acquired intangibles and of tangibles reevaluation, estimated at approximately €353 million, largely impacted by the acquisition of MEDIDATA and lease incentives of acquired companies at approximately €1 million.

    The above objectives also do not include any impact from other operating income and expenses, a net principally comprised of acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; from one-time items included in financial revenue; from one-time tax effects; and from the income tax effects of these non-IFRS adjustments. Finally, these estimates do not include any new acquisitions or restructuring completed after March 31, 2025.

    Corporate Announcements

    Today’s Webcast and Conference Call Information

    Today, Thursday, April 24, 2025, Dassault Systèmes will host, from Paris, a webcasted presentation at 9:00 AM London Time / 10:00 AM Paris time, and will then host a conference call at 8:30 AM New York time / 1:30 PM London time / 2:30 PM Paris time. The webcasted presentation and conference calls will be available online by accessing investor.3ds.com.

    Additional investor information is available at investor.3ds.com or by calling Dassault Systèmes’ Investor Relations at +33.1.61.62.69.24.

    Investor Relations Events

    • Capital Markets Day: June 6, 2025
    • Second Quarter 2025 Earnings Release: July 24, 2025
    • Third Quarter 2025 Earnings Release: October 23, 2025
    • Fourth Quarter 2025 Earnings Release: February 11, 2026

    Forward-looking Information

    Statements herein that are not historical facts but express expectations or objectives for the future, including but not limited to statements regarding the Group’s non-IFRS financial performance objectives are forward-looking statements. Such forward-looking statements are based on Dassault Systèmes management’s current views and assumptions and involve known and unknown risks and uncertainties. Actual results or performances may differ materially from those in such statements due to a range of factors.

    The Group’s actual results or performance may be materially negatively affected by numerous risks and uncertainties, as described in the “Risk Factors” section 1.9 of the 2024 Universal Registration Document (‘Document d’enregistrement universel’) filed with the AMF (French Financial Markets Authority) on March 18, 2025, available on the Group’s website www.3ds.com.

    In particular, please refer to the risk factor “Uncertain Global Environment” in section 1.9.1.1 of the 2024 Universal Registration Document set out below for ease of reference:

    “In light of the uncertainties regarding economic, business, social, health and geopolitical conditions at the global level, Dassault Systèmes’ revenue, net earnings and cash flows may grow more slowly, whether on an annual or quarterly basis, mainly due to the following factors:

    • the deployment of Dassault Systèmes’ solutions may represent a large portion of a customer’s investments in software technology. Decisions to make such an investment are impacted by the economic environment in which the customers operate. Uncertain global geopolitical, economic and health conditions and the lack of visibility or the lack of financial resources may cause some customers, e.g. within the automotive, aerospace, energy or natural resources industries, to reduce, postpone or cancel their investments, or to reduce or not renew ongoing paid maintenance for their installed base, which impact larger customers’ revenue with their respective sub-contractors;
    • the political, economic and monetary situation in certain geographic regions where Dassault Systèmes operates could become more volatile and negatively affect Dassault Systèmes’ business, and in particular its revenue, for example, due to stricter export compliance rules or the introduction of new customs barriers or controls on the exchange of goods and services;
    • continued pressure or volatility on raw materials and energy prices could also slow down Dassault Systèmes’ diversification efforts in new industries;
    • uncertainties regarding the extent and duration of costs inflation could adversely affect the financial position of Dassault Systèmes; and
    • the sales cycle of the Dassault Systèmes’ products – already relatively long due to the strategic nature of such investments for customers – could further lengthen.

    The occurrence of crises – health and political crises in particular – could have consequences both for the health and safety of Dassault Systèmes’ employees and for the Company. It could also adversely impact the financial situation or financing and supply capabilities of Dassault Systèmes’ existing and potential customers, commercial and technology partners, some of whom may be forced to temporarily close sites or to cease operations. A deteriorating economic environment could generate increased price pressure and affect the collection of receivables, which would negatively affect Dassault Systèmes’ revenue, financial performance and market position.

    Dassault Systèmes makes every effort to take into consideration this uncertain outlook. Dassault Systèmes’ business results, however, may not develop as anticipated. Furthermore, due to factors affecting sales of Dassault Systèmes’ products and services, there may be a substantial time lag between an improvement in global economic and business conditions and an upswing in the Company’s business results.

    In preparing such forward-looking statements, the Group has in particular assumed an average US dollar to euro exchange rate of US$1.10 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY155.0 to €1.00, before hedging for the second quarter 2025. The Group has assumed an average US dollar to euro exchange rate of US$1.09 per €1.00 as well as an average Japanese yen to euro exchange rate of JPY156.4 to €1.00, before hedging for the full year 2025. However, currency values fluctuate, and the Group’s results may be significantly affected by changes in exchange rates.   

    Non-IFRS Financial Information

    Readers are cautioned that the supplemental non-IFRS financial information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered in isolation from or as a substitute for IFRS measurements. The supplemental non-IFRS financial information should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with IFRS. Furthermore, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Specific limitations for individual non-IFRS measures are set forth in the Company’s 2024 Universal Registration Document filed with the AMF on March 18, 2025.

    In the tables accompanying this press release the Group sets forth its supplemental non-IFRS figures for revenue, operating income, operating margin, net income and diluted earnings per share, which exclude the effect of adjusting the carrying value of acquired companies’ deferred revenue, share-based compensation expense and related social charges, the amortization of acquired intangible assets and of tangibles reevaluation, certain other operating income and expense, net, including impairment of goodwill and acquired intangibles, the effect of adjusting lease incentives of acquired companies, certain one-time items included in financial revenue and other, net, and the income tax effect of the non-IFRS adjustments and certain one-time tax effects. The tables also set forth the most comparable IFRS financial measure and reconciliations of this information with non-IFRS information.

    FOR MORE INFORMATION

    Dassault Systèmes’ 3DEXPERIENCE platform, 3D design software, 3D Digital Mock Up and Product Lifecycle Management (PLM) solutions: http://www.3ds.com

    ABOUT DASSAULT SYSTÈMES

    Dassault Systèmes is a catalyst for human progress. Since 1981, the company has pioneered virtual worlds to improve real life for consumers, patients and citizens.
    With Dassault Systèmes’ 3DEXPERIENCE platform, 370 000 customers of all sizes, in all industries, can collaborate, imagine and create sustainable innovations that drive meaningful impact.
    For more information, visit www.3ds.com

    Dassault Systèmes Investor Relations Team                        FTI Consulting

    Beatrix Martinez: +33 1 61 62 40 73                                Arnaud de Cheffontaines: +33 1 47 03 69 48

                                                                    Jamie Ricketts : +44 20 3727 1600

    investors@3ds.com

    Dassault Systèmes Press Contacts

    Corporate / France        Arnaud MALHERBE        

    arnaud.malherbe@3ds.com        

    +33 (0)1 61 62 87 73

    © Dassault Systèmes. All rights reserved. 3DEXPERIENCE, the 3DS logo, the Compass icon, IFWE, 3DEXCITE, 3DVIA, BIOVIA, CATIA, CENTRIC PLM, DELMIA, ENOVIA, GEOVIA, MEDIDATA, NETVIBES, OUTSCALE, SIMULIA and SOLIDWORKS are commercial trademarks or registered trademarks of Dassault Systèmes, a European company (Societas Europaea) incorporated under French law, and registered with the Versailles trade and companies registry under number 322 306 440, or its subsidiaries in the United States and/or other countries. All other trademarks are owned by their respective owners. Use of any Dassault Systèmes or its subsidiaries trademarks is subject to their express written approval.

    APPENDIX TABLE OF CONTENTS

    Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.    

    Glossary of Definitions

    Non-IFRS Financial Information

    Acquisitions and Foreign Exchange Impact

    Condensed consolidated statements of income

    Condensed consolidated balance sheet

    Condensed consolidated cash flow statement

    IFRS – non-IFRS reconciliation

    DASSAULT SYSTÈMES – Glossary of Definitions

    Information in Constant Currencies

    Dassault Systèmes has followed a long-standing policy of measuring its revenue performance and setting its revenue objectives exclusive of currency in order to measure in a transparent manner the underlying level of improvement in its total revenue and software revenue by activity, industry, geography and product lines. The Group believes it is helpful to evaluate its growth exclusive of currency impacts, particularly to help understand revenue trends in its business. Therefore, the Group provides percentage increases or decreases in its revenue and expenses (in both IFRS as well as non-IFRS) to eliminate the effect of changes in currency values, particularly the U.S. dollar and the Japanese yen, relative to the euro. When trend information is expressed “in constant currencies”, the results of the “prior” period have first been recalculated using the average exchange rates of the comparable period in the current year, and then compared with the results of the comparable period in the current year.

    While constant currency calculations are not considered to be an IFRS measure, the Group believes these measures are critical to understanding its global revenue results and to compare with many of its competitors who report their financial results in U.S. dollars. Therefore, Dassault Systèmes includes this calculation for comparing IFRS revenue figures as well non-IFRS revenue figures for comparable periods. All information at constant currencies is expressed as a rounded percentage and therefore may not precisely reflect the absolute figures.

    Information on Growth excluding acquisitions (“organic growth”)

    In addition to financial indicators on the entire Group’s scope, Dassault Systèmes provides growth excluding acquisitions effect, also named organic growth. In order to do so, the data relating to the scope is restated excluding acquisitions, from the date of the transaction, over a period of 12 months.

    Information on Industrial Sectors

    The Group provides broad end-to-end software solutions and services: its platform-based virtual twin experiences combine modeling, simulation, data science and collaborative innovation to support companies in the three sectors it serves, namely Manufacturing Industries, Life Sciences & Healthcare, and Infrastructure & Cities.

    These three sectors comprise twelve industries:

    • Manufacturing Industries: Transportation & Mobility; Aerospace & Defense; Marine & Offshore; Industrial Equipment; High-Tech; Home & Lifestyle; Consumer Packaged Goods – Retail. In Manufacturing Industries, Dassault Systèmes helps customers virtualize their operations, improve data sharing and collaboration across their organization, reduce costs and time-to-market, and become more sustainable;
    • Life Sciences & Healthcare: Life Sciences & Healthcare. In this sector, the Group aims to address the entire cycle of the patient journey to lead the way toward precision medicine. To reach the broader healthcare ecosystem from research to commercial, the Group’s solutions connect all elements from molecule development to prevention to care, and combine new therapeutics, medical practices, and Medtech;
    • Infrastructure & Cities: Infrastructure, Energy & Materials; Architecture, Engineering & Construction; Business Services; Cities & Public Services. In Infrastructure & Cities, the Group supports the virtualization of the sector in making its industries more efficient and sustainable, and creating desirable living environments.

    Information on Product Lines

    The Group’s product lines financial reporting include the following financial information:

    • Industrial Innovation software revenue, which includes CATIA, ENOVIA, SIMULIA, DELMIA, GEOVIA, NETVIBES, and 3DEXCITE brands;
    • Life Sciences software revenue, which includes MEDIDATA and BIOVIA brands;
    • Mainstream Innovation software revenue which includes SOLIDWORKS, as well as its CENTRIC PLM and 3DVIA brands.

    Starting from 2022, OUTSCALE became a brand of the Group, extending the portfolio of software applications. As the first sovereign and sustainable operator on the cloud, OUTSCALE enables governments and corporations from all sectors to achieve digital autonomy through a Cloud experience and with a world-class cyber governance.

    GEOs

    Eleven GEOs are responsible for driving the development of the Company’s business and implementing its customer‑centric engagement model. Teams leverage strong networks of local customers, users, partners, and influencers.

    These GEOs are structured into three groups:

    • the “Americas” group, made of two GEOs;
    • the “Europe” group, comprising Europe, Middle East and Africa (EMEA) and made of four GEOs;
    • the “Asia” group, comprising Asia and Oceania and made of five GEOs.

    3DEXPERIENCE Software Contribution

    To measure the relative share of 3DEXPERIENCE software in its revenues, Dassault Systèmes calculates the percentage contribution by comparing total 3DEXPERIENCE software revenue to software revenue for all product lines except SOLIDWORKS, MEDIDATA, CENTRIC PLM and other acquisitions (defined as “3DEXPERIENCE Eligible software revenue”).

    Cloud revenue

    Cloud revenue is generated from contracts that provide access to cloud-based solutions (SaaS), infrastructure as a service (IaaS), cloud solution development and cloud managed services. These offerings are delivered by Dassault Systèmes through its own cloud infrastructure or by third-party cloud providers. They are available through different deployment methods: Dedicated cloud, Sovereign cloud and International cloud. Cloud solutions are generally offered through subscription-based models or perpetual licenses with support and hosting services.

    New business

    New business is the combination of subscription revenue and licenses & other software revenue.

    DASSAULT SYSTÈMES

    NON-IFRS FINANCIAL INFORMATION

    (unaudited; in millions of Euros, except per share data, percentages, headcount and exchange rates)

    Non-IFRS key figures exclude the effects of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue), share-based compensation expense, including related social charges, amortization of acquired intangible assets and of tangible assets revaluation, lease incentives of acquired companies, other operating income and expense, net, including the acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets, certain one-time items included in financial loss, net, certain one-time tax effects and the income tax effects of these non-IFRS adjustments.

    Comparable IFRS financial information and a reconciliation of the IFRS and non-IFRS measures are set forth in the separate tables within this Attachment.

    In millions of Euros, except per share data, percentages, headcount and exchange rates Non-IFRS reported
    Three months ended
    March 31,

    2025

    		 March 31,

    2024

    		 Change Change in constant currencies
    Total Revenue € 1,573.0 € 1,499.7 5% 4%
             
    Revenue breakdown by activity        
    Software revenue 1,432.7 1,352.8 6% 5%
    Of which licenses and other software revenue 198.1 218.5 (9)% (10)%
    Of which subscription and support revenue 1,234.6 1,134.3 9% 7%
    Services revenue 140.2 146.8 (4)% (6)%
             
    Software revenue breakdown by product line        
    Industrial Innovation 793.1 731.4 8% 8%
    Life Sciences 292.6 284.7 3% 0%
    Mainstream Innovation 347.1 336.7 3% 2%
             
    Software Revenue breakdown by geography        
    Americas 611.1 553.6 10% 7%
    Europe 513.2 503.2 2% 1%
    Asia 308.4 296.0 4% 5%
             
    Operating income € 486.1 € 466.5 4%  
    Operating margin 30.9% 31.1%    
             
    Net income attributable to shareholders € 420.1 € 397.2 6%  
    Diluted earnings per share € 0.32 € 0.30 6% 5%
             
    Closing headcount 26,225 25,780 2%  
             
    Average Rate USD per Euro 1.05 1.09 (3)%  
    Average Rate JPY per Euro 160.45 161.15 (0)%  

    DASSAULT SYSTÈMES

    ACQUISITIONS AND FOREIGN EXCHANGE IMPACT

    (unaudited; in millions of Euros)

    In millions of Euros Non-IFRS reported o/w growth at constant rate and scope o/w change of scope impact at current year rate o/w FX impact on previous year figures
    March 31,

    2025

    		 March 31,

    2024

    		 Change
    Revenue QTD 1,573.0 1,499.7 73.3 52.6 0.9 19.8

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED STATEMENTS OF INCOME

    (unaudited; in millions of Euros, except per share data and percentages)

    In millions of Euros, except per share data and percentages IFRS reported
    Three months ended
    March 31, March 31,
    2025 2024
    Licenses and other software revenue 198.1 218.5
    Subscription and Support revenue 1,234.6 1,134.3
    Software revenue 1,432.7 1,352.8
    Services revenue 140.2 146.8
    Total Revenue € 1,573.0 € 1,499.7
    Cost of software revenue (1) (129.2) (111.9)
    Cost of services revenue (131.1) (131.8)
    Research and development expenses (348.6) (311.4)
    Marketing and sales expenses (446.5) (420.3)
    General and administrative expenses (120.4) (105.1)
    Amortization of acquired intangible assets and of tangible assets revaluation (88.3) (93.3)
    Other operating income and expense, net (4.4) (1.8)
    Total Operating Expenses (1,268.5) (1,175.6)
    Operating Income € 304.5 € 324.1
    Financial income (loss), net 30.3 30.2
    Income before income taxes € 334.8 € 354.2
    Income tax expense (75.5) (68.3)
    Net Income € 259.4 € 286.0
    Non-controlling interest 1.2 (0.3)
    Net Income attributable to equity holders of the parent € 260.5 € 285.7
    Basic earnings per share 0.20 0.22
    Diluted earnings per share € 0.20 € 0.21
    Basic weighted average shares outstanding (in millions) 1,312.3 1,313.6
    Diluted weighted average shares outstanding (in millions) 1,332.2 1,331.1

            (1) Excluding amortization of acquired intangible assets and of tangible assets revaluation.

    IFRS reported

     

    		 Three months ended March 31, 2025
    Change (2) Change in constant currencies
    Total Revenue 5% 4%
    Revenue by activity    
    Software revenue 6% 5%
    Services revenue (4)% (6)%
    Software Revenue by product line    
    Industrial Innovation 8% 8%
    Life Sciences 3% 0%
    Mainstream Innovation 3% 2%
    Software Revenue by geography    
    Americas 10% 7%
    Europe 2% 1%
    Asia 4% 5%

                    (2) Variation compared to the same period in the prior year.

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED BALANCE SHEET

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    March 31, December 31,
    2025 2024
    ASSETS    
    Cash and cash equivalents 4,242.9 3,952.6
    Trade accounts receivable, net 1,709.5 2,120.9
    Contract assets 34.3 30.1
    Other current assets 464.8 464.0
    Total current assets 6,451.5 6,567.6
    Property and equipment, net 928.7 945.8
    Goodwill and Intangible assets, net 7,597.6 7,687.1
    Other non-current assets 358.9 345.5
    Total non-current assets 8,885.2 8,978.3
    Total Assets € 15,336.7 € 15,545.9
    LIABILITIES    
    Trade accounts payable 199.5 259.9
    Contract liabilities 1,716.0 1,663.4
    Borrowings, current 411.4 450.8
    Other current liabilities 1,109.7 1,147.4
    Total current liabilities 3,436.6 3,521.5
    Borrowings, non-current 2,043.3 2,042.8
    Other non-current liabilities 887.9 900.9
    Total non-current liabilities 2,931.3 2,943.7
    Non-controlling interests 14.3 14.1
    Parent shareholders’ equity 8,954.5 9,066.6
    Total Liabilities € 15,336.7 € 15,545.9

    DASSAULT SYSTÈMES

    CONDENSED CONSOLIDATED CASH FLOW STATEMENT

    (unaudited; in millions of Euros)

    In millions of Euros IFRS reported
    Three months ended
    March 31, March 31, Change
    2025 2024
    Net income attributable to equity holders of the parent 260.5 285.7 (25.2)
    Non-controlling interest (1.2) 0.3 (1.4)
    Net income 259.4 286.0 (26.6)
    Depreciation of property and equipment 50.5 47.6 2.8
    Amortization of intangible assets 89.6 95.2 (5.6)
    Adjustments for other non-cash items 16.1 37.7 (21.6)
    Changes in working capital 397.4 204.4 193.0
    Net Cash From Operating Activities € 813.0 € 670.9 € 142.1
           
    Additions to property, equipment and intangibles assets (55.9) (57.2) 1.2
    Payment for acquisition of businesses, net of cash acquired (193.8) (4.5) (189.2)
    Other (37.8) 22.3 (60.1)
    Net Cash Provided by (Used in) Investing Activities € (287.5) € (39.4) € (248.1)
           
    Proceeds from exercise of stock options 22.2 21.3 0.8
    Repurchase and sale of treasury stock (80.1) (131.1) 51.0
    Acquisition of non-controlling interests (0.2) (2.6) 2.5
    Repayment of borrowings (58.9) (0.1) (58.8)
    Repayment of lease liabilities (22.6) (24.0) 1.4
    Net Cash Provided by (Used in) Financing Activities € (139.6) € (136.5) € (3.0)
           
    Effect of exchange rate changes on cash and cash equivalents (95.7) 32.7 (128.4)
           
    Increase (decrease) in cash and cash equivalents € 290.3 € 527.7 € (237.4)
           
           
    Cash and cash equivalents at beginning of period € 3,952.6 € 3,568.3  
    Cash and cash equivalents at end of period € 4,242.9 € 4,095.9  

    DASSAULT SYSTÈMES
    SUPPLEMENTAL NON-IFRS FINANCIAL INFORMATION
    IFRS – NON-IFRS RECONCILIATION
    (unaudited; in millions of Euros, except per share data and percentages)

    Readers are cautioned that the supplemental non-IFRS information presented in this press release is subject to inherent limitations. It is not based on any comprehensive set of accounting rules or principles and should not be considered as a substitute for IFRS measurements. Also, the Group’s supplemental non-IFRS financial information may not be comparable to similarly titled “non-IFRS” measures used by other companies. Further specific limitations for individual non-IFRS measures, and the reasons for presenting non-IFRS financial information, are set forth in the Group’s Document d’Enregistrement Universel for the year ended December 31, 2024 filed with the AMF on March 18, 2025. To compensate for these limitations, the supplemental non-IFRS financial information should be read not in isolation, but only in conjunction with the Group’s consolidated financial statements prepared in accordance with IFRS.

    In millions of Euros, except per share data and percentages Three months ended March 31, Change
    2025 Adjustment(1) 2025 2024 Adjustment(1) 2024 IFRS Non-IFRS(2)
    IFRS Non-IFRS IFRS Non-IFRS
    Total Revenue € 1,573.0 – € 1,573.0 € 1,499.7 – € 1,499.7 5% 5%
    Revenue breakdown by activity                
    Software revenue 1,432.7 – 1,432.7 1,352.8 – 1,352.8 6% 6%
    Licenses and other software revenue 198.1 – 198.1 218.5 – 218.5 (9)% (9)%
    Subscription and Support revenue 1,234.6 – 1,234.6 1,134.3 – 1,134.3 9% 9%
    Recurring portion of Software revenue 86%   86% 84%   84%    
    Services revenue 140.2 – 140.2 146.8 – 146.8 (4)% (4)%
    Software Revenue breakdown by product line                
    Industrial Innovation 793.1 – 793.1 731.4 – 731.4 8% 8%
    Life Sciences 292.6 – 292.6 284.7 – 284.7 3% 3%
    Mainstream Innovation 347.1 – 347.1 336.7 – 336.7 3% 3%
    Software Revenue breakdown by geography                
    Americas 611.1 – 611.1 553.6 – 553.6 10% 10%
    Europe 513.2 – 513.2 503.2 – 503.2 2% 2%
    Asia 308.4 – 308.4 296.0 – 296.0 4% 4%
    Total Operating Expenses € (1,268.5) € 181.6 € (1,086.9) € (1,175.6) € 142.4 € (1,033.2) 8% 5%
    Share-based compensation expense and related social charges (88.5) 88.5 – (46.7) 46.7 –    
    Amortization of acquired intangible assets and of tangible assets revaluation (88.3) 88.3 – (93.3) 93.3 –    
    Lease incentives of acquired companies (0.4) 0.4 – (0.7) 0.7 –    
    Other operating income and expense, net (4.4) 4.4 – (1.8) 1.8 –    
    Operating Income € 304.5 € 181.6 € 486.1 € 324.1 € 142.4 € 466.5 (6)% 4%
    Operating Margin 19.4%   30.9% 21.6%   31.1%    
    Financial income (loss), net 30.3 0.6 30.9 30.2 1.0 31.2 1% (1)%
    Income tax expense (75.5) (21.6) (97.1) (68.3) (31.6) (99.9) 11% (3)%
    Non-controlling interest 1.2 (0.9) 0.2 (0.3) (0.3) (0.5) N/A (141)%
    Net Income attributable to shareholders € 260.5 € 159.6 € 420.1 € 285.7 € 111.5 € 397.2 (9)% 6%
    Diluted Earnings Per Share (3) € 0.20 € 0.12 € 0.32 € 0.21 € 0.08 € 0.30 (9)% 6%

    (1) In the reconciliation schedule above, (i) all adjustments to IFRS revenue data reflect the exclusion of the effect of adjusting the carrying value of acquired companies’ contract liabilities (deferred revenue); (ii) adjustments to IFRS operating expense data reflect the exclusion of the amortization of acquired intangible assets and of tangible assets revaluation, share-based compensation expense, including related social charges, lease incentives of acquired companies, as detailed below, and other operating income and expense, net including acquisition, integration and restructuring expenses, and impairment of goodwill and acquired intangible assets; (iii) adjustments to IFRS financial loss, net reflect the exclusion of certain one-time items included in financial loss, net, and; (iv) all adjustments to IFRS income data reflect the combined effect of these adjustments, plus with respect to net income and diluted earnings per share, certain one-time tax effects and the income tax effect of the non-IFRS adjustments.

    In millions of Euros, except percentages Three months ended March 31, Change
    2025

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2025

    Non-IFRS

    		 2024

    IFRS

    		 Share-based compensation expense and related social charges Lease incentives of acquired companies 2024

    Non-IFRS

    		 IFRS Non-

    IFRS
    Cost of revenue (260.3) 4.9 0.1 (255.2) (243.8) 2.9 0.2 (240.6) 7% 6%
    Research and development expenses (348.6) 32.5 0.1 (316.0) (311.4) 17.9 0.3 (293.2) 12% 8%
    Marketing and sales expenses (446.5) 24.5 0.1 (421.9) (420.3) 13.7 0.1 (406.5) 6% 4%
    General and administrative expenses (120.4) 26.6 0.0 (93.8) (105.1) 12.3 0.0 (92.7) 15% 1%
    Total   € 88.5 € 0.4     € 46.7 € 0.7      

    (2) The non-IFRS percentage increase (decrease) compares non-IFRS measures for the two different periods. In the event there is non-IFRS adjustment to the relevant measure for only one of the periods under comparison, the non-IFRS increase (decrease) compares the non-IFRS measure to the relevant IFRS measure.
    (3) Based on a weighted average 1,332.2 million diluted shares for Q1 2025 and 1,331.1 million diluted shares for Q1 2024, and, for IFRS only, a diluted net income attributable to the sharehorlders of € 260.5 million for Q1 2025 (€ 285.7 million for Q1 2024). The Diluted net income attributable to equity holders of the Group corresponds to the Net Income attributable to equity holders of the Group adjusted by the impact of the share-based compensation plans to be settled either in cash or in shares at the option of the Group.

    1 IFRS figures for 1Q25: total revenue at €1.57 billion, operating margin of 19.4% and diluted EPS at €0.20.

    2 Contract Research Organizations

    Attachment

    The MIL Network –

  • MIL-OSI Asia-Pac: Basketball test event set

    Source: Hong Kong Information Services

    To prepare for the official events of the 15th National Games (NG) to be staged in November, a basketball test event will be held at the Hong Kong Coliseum in Hung Hom this Saturday and Sunday.
     

    The Basketball (Men’s U22) test event will be held from 2pm to 6.30pm on both days, with the participation of four basketball teams – the Hong Kong A1 Division Championship basketball teams Hong Kong Eastern, Winling and Tycoon, as well as the Hong Kong Men’s U22 representative team.

    Admission tickets have been distributed through the Basketball Association of Hong Kong, China and the Eastern Sports Club.

    Those who possess a ticket may enter the venue for the event upon completion of a security check starting from 12.30pm on the event days.

    The test event is organised by the National Games Coordination Office (Hong Kong) and co-organised by the Basketball Association of Hong Kong, China and the Eastern Sports Club, with the Chinese Basketball Association as advisor.
     
    Radio Television Hong Kong will provide a live webcast of the two-day event on its website and YouTube channel.

    MIL OSI Asia Pacific News –

  • MIL-OSI China: Modernization in motion as China’s ‘city of the future’ takes shape rapidly

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

    XIONG’AN, Hebei Province, April 24 — At the end of March, a new sports center with a seating capacity of over 40,000 opened in Xiong’an New Area in northern China’s Hebei Province, filling a key gap in the region’s capacity to host large-scale sports and cultural events.

    The Xiong’an New Area, located about 100 kilometers southwest of Beijing, was established on April 1, 2017. It aims to relieve Beijing of non-essential functions related to its status as the nation’s capital, while also advancing the coordinated development of the Beijing-Tianjin-Hebei region. The process explores a new model of development in densely populated areas.

    According to Chinese authorities, Xiong’an has entered a pivotal stage, where large-scale infrastructure projects are advancing in tandem with accelerated relocation efforts. The focus has now shifted toward promoting high-quality development, high-standard management, and coordinated, efficient resettlement. As the much-anticipated “city of the future,” Xiong’an is taking shape at remarkable speed.

    MAJOR BREAKTHROUGHS

    At the end of 2021, Jia Mengshuang relocated from Beijing to Xiong’an for work. Her company is based in an internet industry park in the new area, which now accommodates more than 600 on-site employees.

    From the terrace of Jia’s office building, the view offers a striking glimpse of Xiong’an’s remarkable transformation. Just next door, the headquarters of China Satellite Network Group Co., Ltd. (CSCN) — the first centrally-administered state-owned enterprise (SOE) to establish a presence in the new area — officially began operations late last year. Meanwhile, the gleaming facades of two other centrally-administered SOEs’ nearly completed headquarters now rise prominently on the emerging skyline.

    As more SOEs establish a presence in Xiong’an, a series of emerging industrial clusters are driving the development of this futuristic city. Having lived and worked in Xiong’an for over half a year, Li Maofan, an employee at CSCN, is increasingly convinced that “dreams can be realized here.”

    Leveraging the presence of the satellite company and an innovation alliance for aerospace information and satellite internet, Xiong’an is developing an industrial ecosystem that spans satellite internet, spatiotemporal information, aerospace vehicles, and the intelligent manufacturing of commercial satellites. So far, it has attracted around 60 enterprises in the aerospace information sector.

    Driven by its commitment to becoming an innovation hub, the new area is also rapidly consolidating scientific and technological resources across industries such as next-generation information technology, artificial intelligence (AI), and new materials.

    Since its establishment, Xiong’an has seen the successful implementation of a series of landmark relocation projects. Four headquarters of centrally-administered SOEs, including CSCN, have already settled in the new area. Four others, including China Datang Corporation Ltd., are set to begin construction this year.

    Currently, over 4,000 Beijing-based enterprises have established operations in Xiong’an, and centrally-administered SOEs have opened over 300 branches and subsidiaries in the area.

    Supportive projects in education and healthcare are also progressing rapidly in the new area. Construction is accelerating on campus buildings for four Beijing-based universities, as well as the site for Peking University People’s Hospital, one of Beijing’s leading hospitals. Meanwhile, the Xiong’an branch of Peking Union Medical College Hospital, one of China’s most prestigious medical institutions, is set to begin construction soon.

    According to the reform and development bureau of Xiong’an, total completed investments in the new area had surpassed 860 billion yuan (about 119.25 billion U.S. dollars) by the end of February. Liu Jia, deputy director of the bureau, said that the implementation of the second batch of relocation projects is being expedited.

    SUSTAINABLE DEVELOPMENT

    Xiong’an is focusing not only on rapid development but also on prioritizing people in its approach to modernization, ensuring that ecological sustainability is integrated throughout the entire process.

    Huang Yuqiang, general manager of a tech firm, relocated his company from Beijing to Xiong’an four years ago. Huang’s company — now a national high-tech enterprise — has secured several invention patents. Its autonomous UAV inspection platform has been applied to various scenarios, including road defect inspections and park security.

    Benefiting from the local government’s robust talent attraction initiatives, Huang now enjoys a refreshingly carefree life after work. Not only did he move into a subsidized rental apartment at a 30-percent discount, but he also received a “Xiong’an talent card,” which grants him benefits related to business ventures, household registration, transportation, healthcare and children’s education.

    Content with the present and optimistic about the future, Huang transferred his family’s household registration to Xiong’an, where they now live. “We feel extremely comfortable, and our sense of happiness has greatly improved,” he said.

    Huang’s story reflects Xiong’an’s remarkable population growth. Since 2017, the new area has seen a consistent influx of residents, with its permanent population reaching 1.36 million by 2024, highlighting its increasing appeal as a hub for talent and opportunities.

    Much like Huang, Jia has gradually relocated her family to Xiong’an over two years. “Every morning, it’s just a five-minute walk to drop my child off at the kindergarten near home, followed by another 10-minute walk to the office,” said Jia, noting that it’s a simple pleasure she could never have imagined during her years in Beijing.

    Spanning an area of 1,770 square kilometers, the new area aims to create favorable living conditions for residents, with parks, recreational facilities, schools and convenience stores all within a 15-minute walk. The plan is to dedicate only 30 percent of the city’s space to urban development, leaving the rest for water and greenery, an exceptionally rare approach in China’s urban development history.

    Since 2017, Xiong’an has added a total of 481,000 mu (about 32,067 hectares) of trees, raising its forest coverage rate from 11 to 35 percent. Notably, the local country park, with a total area of approximately 18 square kilometers, is about five times the size of New York City’s Central Park.

    Baiyangdian Lake, one of northern China’s major wetlands, has undergone its largest systematic ecological restoration in history, with water quality reaching the highest level since monitoring began in 1988 after water replenishment. The lake is now home to 295 wild bird species, an increase of 89 species compared to the period before the new area was established.

    Designed to be smart, sustainable and free from “urban ills,” Xiong’an is China’s first city to achieve the synchronized development of both its digital and physical urban spaces on a citywide scale.

    One feature that consistently impresses nearly all visitors to Xiong’an is its cutting-edge smart mobility solutions. It has developed 153 kilometers of digital roads equipped with smart lampposts that integrate traffic lights and various sensors. By analyzing real-time traffic flow data, the intelligent system automatically adjusts signal timing to minimize red-light stops, significantly enhancing traffic efficiency, explained Song Laiqiang, product manager at China Telecom Digital City Technology Co., Ltd.

    Smart technology is also being used to tackle common urban challenges. According to Wang Kun, deputy director of the Rongdong administrative committee’s urban operations center, over 1,000 AI-equipped cameras across roads and neighborhoods in Rongdong district of Xiong’an can automatically detect 19 types of municipal issues, from overflowing trash bins to illegal parking. The center’s management platform then reports these issues to community workers, who resolve them promptly.

    At the heart of these smart systems is the Xiong’an urban computing center, often referred to as the city’s “brain,” which drives the construction and management of this smart city. “It integrates technologies such as the Internet of Things, big data, AI and cloud computing to enable real-time, refined and intelligent urban management,” said Li Nan, a supervisor at Xiong’an Cloud Network Technology Co., Ltd.

    “All these innovations have enabled residents to enjoy a higher quality of life in a smarter city,” Li added.

    MIL OSI China News –

  • MIL-OSI China: China further shortens market access negative list

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

    BEIJING, April 24 — China has further shortened its market access negative list, which specifies fields that are off-limits to both domestic and overseas market entities, the National Development and Reform Commission (NDRC) announced on Thursday.

    The new version of the market access negative list reduced the number of items from 117 to 106, a decrease of 11 items, according to the NDRC.

    Replacing the version issued on March 12, 2022, the new version of the list was jointly published by the NDRC, the Ministry of Commerce and the State Administration for Market Regulation, after approval by the Communist Party of China Central Committee and the State Council.

    MIL OSI China News –

  • MIL-OSI China: China-Latin America tech cooperation flourishes with expanding network

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

    BEIJING, April 24 — China-Latin America tech cooperation continues to improve in quality and has formed a multilayered, multifaceted network, the Chinese minister of science and technology has said.

    In recent years, China-Latin America tech cooperation has flourished, with expanding coverage across various fields and an increasingly diverse range of collaborative entities, said Minister Yin Hejun on Wednesday during the inaugural event to mark the China-Latin America and the Caribbean Science Day.

    Yin noted that in addition to traditional fields such as infrastructure construction, agriculture and energy resources, cooperation between the two sides has expanded to emerging frontier fields including 5G, digital technology, new energy, new materials and biomedicine.

    Centers for sustainable food innovation and technology transfer between China and Latin America have been established, creating platforms to address new challenges in the field of science and technology, said the minister.

    Looking into the future, China will continue to uphold the principles of open, fair and non-discriminatory international scientific and technological cooperation to foster a more open environment for scientific innovation, he said.

    At the event, experts from both sides shared their latest research findings and practical experience in key areas such as health, agricultural technology, digital technology and biobreeding, as well as the construction of relevant cooperation platforms.

    MIL OSI China News –