Source: Peoples Bank of China
Announcement on Open Market Operations No.62 [2025]
(Open Market Operations Office, April 1, 2025)
The People’s Bank of China conducted reverse repo operations in the amount of RMB64.9 billion through quantity bidding at a fixed interest rate on April 1, 2025.
Details of the Reverse Repo Operations
|
Maturity |
Rate |
Bidding Volume |
Winning Bid Volume |
|
7 days |
1.50% |
RMB64.9 billion |
RMB64.9 billion |
Date of last update Nov. 29 2018
2025年04月01日
Source: China State Council Information Office 3
Exquisite bronze artifacts, ranging from tall, slender wine vessels to large, ornate wine containers, along with their elaborate production illustrations, give visitors a chance to appreciate the intricate patterns and technical mastery of ancient Chinese artisans.
About 20 of those ancient relics highlight the Marvel of Bronze section of the ongoing Technological Archaeology and Heritage Protection Exhibition that will last through to June 2 at the Chinese Archaeological Museum in Beijing. The section vividly showcases how those works of art were made, beginning with ore processing to metal and then casting with piecemolds.
“Modern tools like X-ray imaging and metallographic analysis have helped us study bronze artifacts in detail,” says Liu Yu, a researcher of the technological archaeology and cultural heritage protection lab, of the Chinese Academy of History.
Traditional and modern methods were then applied to restore the bronzes, ensuring they retain their historical integrity, she adds.
This unit provides a comprehensive look at the entire life cycle of ancient Chinese bronze production, from mining and alloying to casting, as well as modern restoration, Liu says.
Visitors can appreciate the sophistication of ancient Chinese metallurgy, such as intricate patterns and artisans’ precision.
“One of the most distinctive features of Chinese bronze craftsmanship is the use of piece-mold casting. Unlike Western traditions, which relied on forging and lost-wax casting, ancient Chinese artisans used clay molds to create intricate ritual vessels,” Liu explains.
Piece-mold casting allowed for the creation of highly detailed and complex ritual vessels, which played a central role in Chinese ceremonial and political life, she adds.
A model of the vessel was made, and clay molds were pressed around it. These molds were assembled into a whole before molten bronze was poured in. Once cooled, the mold was broken away, and the vessel was cleaned and polished.
“The ancient craft was so extraordinary that you can barely find the traces of assembly, such as pouring gates and risers (a reservoir built into a metal casting mold to prevent cavities), or mold lines on the surface,” Liu adds.
The domination of the complex bronze production in ancient China, especially during the Shang (c.16th century-11th century BC) and Zhou (c.11th century-256 BC) dynasties, was due to the fact that bronze vessels weren’t just functional but came to symbolize political power and were used in rituals, she explains.
Bronze is among the five thematic sections, along with ancient pottery, jade artifacts, textile and modern lab restoration, at the exhibition hosted by the Chinese Academy of History with inputs from archaeological facilities in Gansu, Jiangxi and Henan provinces, as well as the Inner Mongolia autonomous region.
A small but extraordinary piece of pottery, unearthed from the Xianren Cave site in Wannian county, Jiangxi province, took center stage at the exhibition. Dating back 20,000 to 19,000 years, this fragment is not only the oldest known pottery in China but also the earliest evidence of pottery used for cooking food in the world.
According to Liu Guoxiang, director of the Chinese Archaeological Museum, the age of the pottery was determined through stratigraphic analysis and carbon-14 dating. “In recent years, the integration of technology into archaeology — from excavation and preservation to interpretation and display — has become increasingly vital,” he says.
The Xianren Cave pottery fragment reveals that ancient Chinese communities were already crafting and using pottery. Over the following millennia, Chinese ceramics evolved through remarkable technological advancements, artistic diversity, and continuous production, becoming a unique phenomenon in ceramic history worldwide.
Painted pottery includes double-handled pots and jars that were rooted in the Majiayao culture, which boasts more than 5,000 years of history and is based in the upper reaches of the Yellow River and its tributaries.
Despite the passage of thousands of years, the intricate and unique patterns on these artifacts remain strikingly vivid.
Painted pottery fragments dating back around 9,000 years have been unearthed at the Shangshan site in Pujiang county, Zhejiang province. It suggests prehistoric potters had mastered the technique of painting mineral pigments onto pottery surfaces before firing, experts say.
This innovation gave rise to painted pottery, where vibrant designs contrasted beautifully with the unadorned clay, creating a distinct aesthetic, they add.
Another treasure showcased at the exhibition is a remarkable painted pottery jar unearthed from the Dadianzi site in Aohan Banner, Inner Mongolia. This artifact is a stunning example of the Lower Xiajiadian culture, which dates back between 4,000 and 3,400 years.
“Painted pottery is one of the most representative inventions of the Lower Xiajiadian culture,” Liu Guoxiang says.
At the Dadianzi cemetery, a total of 420 painted pottery pieces have been discovered, accounting for about 25 percent of the burial pottery. Analysis shows that these painted pottery pieces used carbon-infused black or dark gray surfaces as the base, adorned with patterns in white, red, and orange-yellow, Liu notes.
The clay surface was polished to a smooth finish, which, after firing, proved ideal for painting, while the dark base enhanced the visibility and aesthetic appeal of the bright-colored designs, he explains.
Experts highlight that the invention of painted pottery marked a groundbreaking innovation that spread from the East to the West, serving as a primary channel for early cultural exchanges between East and West and is considered a precursor to the Silk Road.
The jade unit features 70 artifacts, tracing nearly 10,000 years of craftsmanship in China. Highlights include a set of three hooks from different eras, including the late Neolithic Hongshan culture, around 6,500 to 4,900 years ago, marked by its use of delicate jade ware.
They illustrate the evolution and cultural exchange of jade artifacts across millennia.
The Splendor of Textiles section presents five artifacts, focusing on ancient textile craftsmanship, featuring advanced braiding, twisting, and weaving skills of textile artisans.
Toward the end of the exhibition is the laboratory archaeology display area, where a glass-enclosed workspace offers visitors a rare opportunity to witness the meticulous process of artifact restoration up close.
Inside, Fan Rongnan is focusing on the virtual 3D reconstruction of a Tang Dynasty (618-907) dragon head, unearthed from the ancient city of Xiongzhou, located in what is today’s Xiong’an New Area, Hebei province. Fragments of the dragon head are carefully arranged on the table, showcasing the painstaking effort required to piece together history.
“The dragon head artifact we’re showcasing is a classic example of laboratory archaeology,” says Fan, a second-year graduate student under the researcher Liu Yong from the archaeological science and cultural heritage protection lab, at the Chinese Academy of Social Sciences.
“Based on stratigraphic and typological analysis, we’ve determined that it dates back to the Tang Dynasty. This artifact is a ceramic architectural component, originally placed on a roof,” Fan explains.
The dragon head isn’t just a dull gray — it retains traces of colorful paint. For example, the left eye is black, surrounded by a faint green eyeliner, Fan adds.
Archaeologists have employed a variety of advanced techniques to study the dragon head, including 3D laser scanning, multi-angle 3D imaging, and surface fluorescence analysis, which captured detailed information about the fragments’ morphology and painted components.
The data collected provided a scientific foundation for the preservation and restoration of the dragon head, Fan says.
She has been demonstrating the piecing together of fragments at the exhibition. “The numbered fragments in the tray show the initial condition of the artifact. These pieces have already been cleaned and desalinated, and now the task is to assemble them,” Fan explains.
Liu Yu says the exhibition not only celebrates “the ingenuity of our ancestors” but also highlights the transformative role of technology in “preserving and understanding our shared heritage”.
“Through the power of technological archaeology and cultural heritage preservation, we can decode the fragments of the past, unlocking the secrets of the past and bringing their brilliance back to life,” Liu says.
Source: China State Council Information Office 3
During the ongoing exhibition, Radiance of the East: Million-Year Human Imprint in Nihewan, at the Natural History Museum of China in Beijing, visitors can follow fossil evidence to trace the earliest presence of humans in northeast Asia.
Opened on March 8 and running through to May 11, the event highlights the rich archaeological significance of the Nihewan site in North China’s Hebei province. Jointly organized by the museum, the Hebei Nihewan Site Protection Committee, and the Zhangjiakou Association for Science and Technology, it aims to enhance public understanding of the region’s geological and anthropological history.
Showcasing more than 200 artifacts, including stone tools, fossils and reconstructed site models, alongside multimedia presentations, the curators try to present the scientific knowledge of Nihewan’s archaeology and paleontology, according to Wei Yi, an associate researcher at the Natural History Museum of China.
Divided into four sections, visitors can follow the timeline to explore the themes of human origins, ancient ecosystems, Paleolithic culture and the archaeological development of the site.
Located in Yangyuan county, Zhangjiakou, Hebei, Nihewan Basin is one of the country’s earliest systematically excavated Paleolithic sites. The strata contains abundant fossils of ancient mammals, such as three-toed horses, woolly rhinoceroses, saber-toothed cats, giant deer and steppe mammoths, providing invaluable materials for studying the evolution of Cenozoic fauna in northern China. Nearly 400 sites have been identified, constructing a cultural sequence of ancient human evolution spanning nearly 2 million to 10,000 years.
Discovered in the early 1920s, the site contains well-known mammalian fauna and stone-tool artifacts in long sequences of sediments, making the region an attractive setting for geological, paleontological and archaeological exploration and research, according to the Geological Society of Hebei Province.
It has not only the earliest Majuangou site in northern China dating to 2 million years before the present, but also the Xujiayao site of the late Paleolithic period where human skulls and many forged spheroids were unearthed, as well as the Yujiagou site of the Paleolithic-Neolithic transition period where the earliest pottery fragments and many microliths were discovered.
Restored animal skeletons from Nihewan on show. [Photo courtesy of the Natural History Museum of China]
A standout exhibit is the reconstructed scene from the Majuangou site, where evidence of human activity dating back 1.66 million years was discovered.
“This is where the ‘first meal of Eastern humans’ took place,” Wei explains.
“One scraper was found in direct contact with a rib fossil, bearing clear signs of impact and scraping, reflecting scenes of ancient humans hunting, dismembering and sharing mammoth meat,” she adds.
The exhibition also introduces the fossilized remains from the Houjiayao-Xujiayao site, representing 16 individuals across various life stages, from children to the elderly. Nearby, three round stone balls are exhibited. “Stone balls are the most distinctive tools from this site, with thousands discovered,” Wei says.
The site yielded more than 4,000 horse tooth fossils, leading experts to speculate that the stone balls were specialized tools for hunting wild horses.
“Ancient humans likely tied ropes around the stone balls to create bolas, which they threw to strike animals’ bodies or heads,” she explains.
Another groundbreaking discovery that Wei doesn’t want visitors to miss is the evidence of a culture that processed ochre, which is used to make pigments, discovered at the Xiamabei, a 40,000-year-old archaeological site in Nihewan.
Small pieces of hematite and grinding tools are displayed together in the exhibition.
“This discovery pushes the history of hematite pigment use in East Asia back to 40,000 years ago. Since pigments were likely used for body decoration, it suggests that humans had developed a sense of aesthetics by this period,” Wei says.
Additionally, experts found plant fiber traces on the surfaces of some stone flakes, indicating that ancient humans may have bound small stone flakes to create composite tools, reflecting the increasing complexity of their technology and behavior.
Over the past century, archaeological discoveries at Nihewan have pushed the timeline of human origins in China and East Asia back to approximately 1.7 million years ago.
With the launch of the project of chasing the human origins in Nihewan by the provincial government in Hebei, further archaeological revelations are anticipated.
Source: China State Council Information Office 3
All the main characters reside in a neighborhood in Huajie (Flower Street) along the bank of a section of the Grand Canal. [Photo/China Daily]
More than 700 years ago, Italian merchant and explorer Marco Polo trekked to China, leaving a deep impression of the Grand Canal — the country’s major waterway artery — and providing the detailed portrayal in the famous book, The Travels of Marco Polo, that stirred Europeans’ curiosity about the Eastern world.
This also became the inspiration for writer Xu Zechen’s best-selling novel Northward, which won the 10th Mao Dun Literature Award thanks to its epic recounting of the canal and riverside people over a turbulent span of more than one century.
In the novel, an Italian explorer who regards Polo as his idol ventures to China during the late Qing Dynasty (1644-1911) to search for his missing younger brother, embarking on a fate-intertwining journey with several Chinese individuals. Narrated in two parallel lines that switch between ancient and modern times, the skillfully structured tale also recounts the stories of their descendants.
For director Yao Xiaofeng, a native of Jiangsu province — where 687 kilometers of the canal flow through eight cities — the novel captivated him in 2018. The veteran had previously spent years searching for a proper story about the water and people residing along its banks.
With award-winning scriptwriter Zhao Dongling on board to pen the tale, the novel was adapted into a 38-episode, eponymous TV series that began airing on China Central Television’s CCTV-1 and streaming site iQiyi earlier last month.
Starring actress Bai Lu and actor Ou Hao, the series — which is set between 2000 and 2014 — has attracted audiences, as evidenced by its related topics garnering 2.26 billion views on the social platform Weibo.
Centering on six neighboring families residing near one section of the canal in Huai’an, Jiangsu province, the drama chronicles their ups and downs, following their children as they move to Beijing to seek education or startup opportunities, riding the wave of the country’s unprecedented internet business expansion.
“It’s like a destined encounter that led me to helm this drama. The canal was part of my childhood memories. I was a self-taught swimmer, and many of the mischievous acts by the children in the drama are inspired by my own experiences,” Yao told China Daily during a telephone interview.
In 2014, the Grand Canal was inscribed on UNESCO’s World Heritage List, inspiring Yao to read several books and watch documentaries about the world’s longest artificial waterway.
Delving deeper into Xu’s canal-centered novels, such as Stories of Beijing Western Suburbs and Jerusalem, Yao gained a profound understanding of how the canal — which stretches nearly 3,200 km and flows through 35 cities — serves as an economic and cultural artery for the country, influencing the livelihoods of numerous local residents.
Captivated by the spiritual core of Xu’s tales, which depict themes of homesickness and destiny, Yao, alongside major creators, including screenwriter Zhao and chief producer Zhang Shuwei, took a road trip along the section of the canal in Jiangsu province. They collected firsthand information by interviewing nearly 100 boatmen who live and work on barges.
“The journey took around half a month. Many boatmen’s families, consisting of parents and one or two children, live, sleep, and entertain themselves on their boats. They rarely go ashore, unless they need to purchase daily necessities from supermarkets,” Yao recalls.
However, what has touched Yao the most is the boatmen who had to leave the water due to the fishing ban in certain sections to protect the local ecosystem. “On the boat, they are like fish in water. But when they are relocated to life on land, you can sense their deep sense of loss, even though their new life is more comfortable and stable,” Yao remarks.
Having to leave the environment they know best due to societal changes, many boatmen struggle with feelings of uselessness and a loss of confidence. These experiences inspired the character played by actor Hu Jun — a once-successful barge operator who faces a personal crisis after the decline of his water transportation business.
Zhang, the chief producer, tells China Daily that she also feels impressed by how boatmen take the boats as their “moving houses”.
“The core of their lives revolves around boats, and when they discuss buying a boat, the gravity is akin to how we city dwellers talk about buying an apartment,” says Zhang.
During their survey journey through cities such as Huai’an and Yangzhou, Zhao recalls meeting young people who had graduated from foreign colleges and returned to their hometowns to start small businesses, such as opening bookstores.
“We heard many interesting stories and incorporated some of their elements into the drama,” Zhang adds.
The series’ major scenes are set in Huajie (Flower Street), a riverside community home to 18 characters from six families. To find the perfect filming location, the crew surveyed multiple sites before selecting Bacheng Old Street in Kunshan — a 200-meter-long, narrow street lined with densely packed, gray-tiled houses.
“Although filming on a sound-stage makes it easier to control lighting and the surrounding environment — such as avoiding onlookers — we chose to embrace the challenges of shooting on location and built the characters’ homes directly on the street,” says Zhang.
This also makes the filming feel more authentic, and full of everyday life. In some long takes, the scenes capture lively children joyfully running from their own courtyards to their neighbors’, a bustling wonton stall opening for breakfast and residents sitting on small stools, enjoying their morning meals.
Interestingly, the construction work was kept on to ensure that the props and room decorations updated according to economic and societal development of the times, especially as local families’ lives improved following the canal’s successful bid for UNESCO’s list, which has boosted local tourism and cultural businesses, according to Zhang.
The drama also explores the theme of root-seeking, according to the director.
Ma Siyi, one of six children living in Huajie, is a descendant of the Italian explorer’s brother and his Chinese wife. After years of struggling with her appearance and background, she embarks on a journey to Italy in one episode to trace her roots. Raised by her Chinese grandmother after losing her father at a young age, her story highlights the quest for identity.
Similarly, in the final episodes, her five close friends, who mostly move to Beijing after growing up, return to their hometown, symbolizing their own journeys to reconnect with their roots.
“It has been a timeless literary theme revolving around ‘who I am’ and ‘where I come from’. Until the end of the drama, the audience will see how all the characters’ fates are bound to their ancestors from over 100 years ago,” says Yao.
“Personally, this is the most captivating part of the tale and the reason it has drawn me to adapt it into a TV drama,” he adds.
Source: China State Council Information Office 2
A ceremony was held in Hong Kong on Monday to commemorate the 60th anniversary of Dongjiang water supply to Hong Kong, along with the opening of Dancing Water Drops Exhibition.
The ceremony was co-hosted by officials from the central government, the Hong Kong Special Administrative Region (HKSAR) government, and the Guangdong provincial government.
Addressing the occasion, HKSAR Chief Executive John Lee noted that Dongjiang water accounts for 70 to 80 percent of Hong Kong’s drinking water, supporting the city’s economic development and ensuring the well-being of its residents.
“Dongjiang water supply is not just an engineering project but also a profound symbol of familial ties, encouraging Hong Kong residents to remember the source of water and contribute to the rejuvenation of the Chinese nation,” Lee said.
Guangdong Governor Wang Weizhong said that Guangdong province has, over the past six decades, firmly implemented the central government’s decisions and regarded ensuring the safety of water supply to Hong Kong as a major mission.
Standing at a new starting point, Guangdong province will comprehensively and accurately implement the “one country, two systems” principle with unwavering commitment, effectively manage and utilize the water supply project, ensuring that Hong Kong compatriots continue to have access to safe and high-quality water, thus providing strong support for Hong Kong’s long-term prosperity and stability, Wang said.
The ceremony also featured a lighting ceremony for the exhibition, which will take place from Tuesday to June 13 at Tamar Park and the Central and Western District Promenade.
Source: People’s Republic of China – Ministry of National Defense
The UNIFIL organizes a multinational airborne medical evacuation (MEDEVAC) exercise on March 24, 2025.
By Gao Yan
BEIRUT, Lebanon, Apr. 1 — The Chinese Peacekeeping Level One Plus Hospital to the United Nations Interim Force in Lebanon (UNIFIL) on March 24 conducted a multinational airborne medical evacuation (MEDEVAC) drill with Spain’s Level One Hospital, the Aeromedical Evacuation Team (AMET), and UNIFIL Medical Branch.
The scenario simulated the treatment and evacuation of a blast victim. After initial treatment at the Spain’s Level One Hospital, the patient was transferred to China’s Level One Plus Hospital for further care. Once stabilized, the patient was transported to a helipad and airlifted by AMET to St. George’s Hospital in Beirut.
This is the first airborne MEDEVAC drill organized by UNIFIL since the armistice between Lebanon and Israel and it aimed to enhance the emergency medical coordination among multinational troops. The UNIFIL plans to continue similar training to enhance emergency medical response level in the mission area.
The UNIFIL organizes a multinational airborne medical evacuation (MEDEVAC) exercise on March 24, 2025.
The UNIFIL organizes a multinational airborne medical evacuation (MEDEVAC) exercise on March 24, 2025.
The UNIFIL organizes a multinational airborne medical evacuation (MEDEVAC) exercise on March 24, 2025.
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Source: GlobeNewswire (MIL-OSI)
TORONTO, March 31, 2025 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of Photonic Integrated Circuits (PICs), light sources and optical modules for the AI and data center markets, today reported its audited consolidated financial results for the fourth quarter ended December 31, 2024. The Company’s financial results as well as the Management Discussion and Analysis have been filed on SEDAR+. All financial figures are in United States dollars (“USD”) unless otherwise indicated.
Management Commentary:
“In Q4 2024, we strategically positioned our company for accelerated growth by strengthening our financial foundation, advancing critical technology developments, and implementing a new manufacturing strategy designed for rapid, profitable scaling,” stated POET Chairman & CEO, Dr. Suresh Venkatesan. “The market is experiencing unprecedented demand for photonic solutions, particularly in AI data center applications, and we’re still at the early stages of what industry experts anticipate will be a multi-year demand cycle. Despite challenging equity markets, we successfully raised an additional US$25 million through a registered direct offering, with robust investor support reflecting the market opportunity and POET’s positioning as a potential leader in the space.”
Dr. Venkatesan continued, “Every strategic move we have made over the past several months is to ensure that POET is positioned to scale and to optimize our supply chain as we approach a revenue inflection point later this year. based on the trajectory of existing customer relationships. Our acquisition of SPX gives us full control of our technology while enabling us to shift manufacturing toward Malaysia and away from China, reducing geopolitical risk to growth, while building on our established foundry relationship with Silterra Malaysia in a familiar and friendly market. For 2025, we’re focused on developing our wafer-level manufacturing in Malaysia, expanding into telecom systems and chip-to-chip data communications applications, and leveraging the solid financial foundation we set in 2024 to accelerate both our customer pipeline, deliveries and revenue realization. POET continues to receive attention from notable industry analysts, including Lightwave+BTR and we expect this momentum, along with existing contracts and relationships with industry leaders and partners like LuxshareTech, Foxconn and Mitsubishi Electric, to lead to significant revenue acceleration in the second half of 2025.”
The Company intends to pursue its voluntary delisting from the TSX Venture Exchange immediately following the closing of its planned US$25M financing with L5 Capital, which is expected to close within the next few weeks.
Notable Business Highlights:
Non-IFRS Financial Summary
The Company reported non-recurring engineering (“NRE”) and product revenue of $29,032 in the fourth quarter of 2024 compared to $107,551 for the same period in 2023 and $3,685 in the third quarter of 2024. Historically the Company provided NRE services to multiple customers for unique projects that are being addressed utilizing the capabilities of the POET Optical Interposer. No billable NRE services were provided in the period. The Company only had small product revenue in Q4 2024.
The Company reported a net loss of $30.2 million, or ($0.48) per share, in the fourth quarter of 2024 compared with a net loss $5.5 million, or ($0.13) per share, for the same period in 2023 and a net loss of $12.7 million, or ($0.20) per share, in the third quarter of 2024. The net loss in the fourth quarter of 2024 included research and development costs of $3.4 million compared to $2.1 million for the same period in 2023 and $1.8 million in the third quarter of 2024. Fluctuations in R&D for a Company of this size and this stage of growth is expected on a period-over-period basis as the Company transitions from technology development to product development.
The largest component of the Company’s loss was from the non-cash fair value adjustment to derivative warrant liability of $12.4 million in the fourth quarter of 2024, compared to $25,000 in the same period in 2023 and $6.2 million in the third quarter of 2024. This non-cash item relates to warrants issued in a foreign currency and is periodically remeasured. The increase was a result of the issuance of warrants and the increase in the Company’s stock price during the third quarter.
Other non-cash expenses in the fourth quarter of 2024 included stock-based compensation of $1.4 million and depreciation and amortization of $0.5 million. Non-cash stock-based compensation and depreciation and amortization in the same period of 2023 were $1.0 million and $0.5 million, respectively. Third quarter 2024 stock-based compensation and depreciation and amortization were $1.5 million and $0.5 million, respectively. The Company had non-cash finance costs of $32,000 in the fourth quarter of 2024 compared to non-cash finance costs of $14,000 in the fourth quarter of 2023 and non-cash costs of $30,000 in the third quarter of 2024.
The Company recognized other income, including interest of $511,000 in the fourth quarter of 2024, compared to $54,000 in the same period in 2023 and $216,000 in the third quarter of 2024.
During the fourth quarter of 2024, the Company acquired the remaining 24.8% interest of SPX from SAIC. The acquisition of this interest resulted in a non-cash loss to the Company of $6,852,687.
Cash flow from operating activities in the fourth quarter of 2024 was ($8.7) million compared to ($2.9) million in the fourth quarter of 2023 and ($5.5) million in the third quarter of 2024.
The Company raised gross proceeds of $25.9 million, including $25 million from the issuance of units from a non-brokered private placement and $0.9 million from the exercise of warrants and stock options.
Summary of Financial Performance
The following is a summary of the Company’s operations over the five quarters ending December 31, 2024. This information should be read in conjunction with the Company’s financial statements filed on Sedar + on Marcy 31, 2025.
| POET TECHNOLOGIES INC. PROFORMA – NON-IFRS AND IFRS PRESENTATION OF OPERATIONS (All figures are in U.S. Dollars) |
|||||||||||||||
| Dec 31/24 | Sep 30/24 | Jun 30/24 | Mar 31/24 | Dec 31/23 | |||||||||||
| Revenue | $29,032 | $3,685 | $ | – | $8,710 | $107,551 | |||||||||
| Research and development | 3,437,683 | 1,765,481 | 2,117,828 | 1,922,066 | 2,142,003 | ||||||||||
| Depreciation and amortization | 475,281 | 525,955 | 509,699 | 509,260 | 505,869 | ||||||||||
| Professional fees | 679,156 | 480,871 | 366,839 | 409,726 | 902,368 | ||||||||||
| Wages and benefits | 758,883 | 667,963 | 780,146 | 768,496 | 676,539 | ||||||||||
| Loss on acquisition of SPX | 6,852,687 | – | – | – | – | ||||||||||
| Stock-based compensation (1) | 1,404,995 | 1,525,131 | 1,591,741 | 947,502 | 1,050,088 | ||||||||||
| General expense, rent and facility | 474,937 | 465,448 | 448,357 | 570,819 | 317,333 | ||||||||||
| Interest expense | 31,605 | 30,482 | 20,833 | 19,753 | 13,547 | ||||||||||
| Finance advisory fees | 4,239,831 | 1,319,392 | 942,576 | – | – | ||||||||||
| Derivative liability adjustment | 12,444,661 | 6,179,836 | 1,376,761 | 629,824 | 24,865 | ||||||||||
| Other (income), including interest | (511,448 | ) | (216,337 | ) | (174,911 | ) | (52,558 | ) | (54,047 | ) | |||||
| Net loss, before taxes | $30,259,239 | $12,740,537 | $7,979,869 | $5,716,178 | $ 5,471,014 | ||||||||||
| Net loss per share | $(0.48 | ) | $(0.20 | ) | $(0.14 | ) | $(0.13 | ) | $(0.13 | ) | |||||
About POET Technologies Inc.
POET is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centers. POET’s photonic integration solutions are based on the POET Optical Interposer™, a novel, patented platform that allows the seamless integration of electronic and photonic devices into a single chip using advanced wafer-level semiconductor manufacturing techniques. POET’s Optical Interposer-based products are lower cost, consume less power than comparable products, are smaller in size and are readily scalable to high production volumes. In addition to providing high-speed (800G, 1.6T and above) optical engines and optical modules for AI clusters and hyperscale data centers, POET has designed and produced novel light source products for chip-to-chip data communication within and between AI servers, the next frontier for solving bandwidth and latency problems in AI systems. POET’s Optical Interposer platform also solves device integration challenges in 5G networks, machine-to-machine communication, self-contained “Edge” computing applications and sensing applications, such as LIDAR systems for autonomous vehicles. POET is headquartered in Toronto, Canada, with operations in Allentown, PA, Shenzhen, China, and Singapore. More information about POET is available on our website at www.poet-technologies.com.
Forward-Looking Statements
This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include expectations of industry analysts and experts with respect to industry growth, the Company’s own expectations with regard to the success of the Company’s product development efforts, the performance of its products, the expectation for revenue, including continued guidance for robust demand provided by current customers, the expected results of its operations, meeting revenue targets, and the expectation of continued success in the financing efforts, the capability, functionality, performance and cost of the Company’s technology as well as the market acceptance, inclusion and timing of the Company’s technology in current and future products and expectations for approval of proposals at the Company’s annual meeting of shareholders.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, forecasts of industry analysts and experts with respect to industry growth, the Company’s own expectations with regard to management’s expectations regarding the success and timing for completion of its development efforts, the introduction of new products, its sales efforts and revenue generation, its financing activities, future growth, recruitment of personnel, opening of offices, the form and potential of its joint venture, plans for and completion of projects by the Company’s consultants, contractors and partners, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, the failure of its products to meet performance requirements, lack of sales in its products, once released, the failure to generate sales and revenue, the failure of continued robust guidance from customers to materialize, operational risks in the completion of the Company’s anticipated projects, lack of performance of its joint venture, risks affecting the Company’s ability to execute projects, the ability of the Company to generate sales for its products, the ability to attract key personnel, and the ability to raise additional capital if needed. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.
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Source: China State Council Information Office 2
Senior Communist Party of China (CPC) official Chen Wenqing on Sunday said that the rule of law serves as both a cornerstone for deepened international cooperation and an essential safeguard for common development.
Chen, a member of the Political Bureau of the CPC Central Committee and head of the Commission for Political and Legal Affairs of the CPC Central Committee, made the remarks at an international forum on Belt and Road Initiative legal services.
In recent years, China has worked to enhance international law enforcement and judicial cooperation, taking concrete steps such as establishing international commercial courts and launching pilot centers for international commercial arbitration, according to Chen.
He said that China is willing to work with all parties to strengthen the alignment of laws, policies, standards and rules, and to establish exchange and cooperation mechanisms for cross-border dispute resolution and legal talent development.
China hopes to integrate all legal service resources to provide a broader platform for multilateral cooperation among Belt and Road partner countries, he added.
Source: China State Council Information Office
Russian President Vladimir Putin remained open to contacts with U.S. President Donald Trump, Kremlin spokesman Dmitry Peskov said on Monday.
A telephone conversation between Putin and Trump is not scheduled yet, Peskov said, adding that “such contacts can be agreed upon very quickly if necessary.”
He noted that Russia and the United States were working on implementing ideas related to the Ukrainian settlement, but there were no specifics yet.
In a phone interview with NBC News on Sunday, Trump said he was “very angry” and “pissed off” when Putin criticized the credibility of Ukrainian President Volodymyr Zelensky’s leadership, adding that the comments were “not going in the right location.”
Trump said Putin knows he is angry, but he has “a very good relationship” with Putin and would speak to the Russian leader again.
Source: China State Council Information Office
Russian President Vladimir Putin has signed a decree on the routine spring conscription campaign, a document from the Kremlin showed on Monday.
A total of 160,000 citizens aged 18 to 30 will be drafted from April 1 to July 15, said the decree.
The conscription campaign is not linked with the special military operation in Ukraine, the Russian Defense Ministry said in a statement, adding that conscripts will be sent to permanent deployment locations of military units, formations and other military structures.
Russia conducts conscriptions twice a year, namely in spring and autumn. The spring 2024 draft saw the enlistment of 150,000 people. All men in Russia are required to participate in military service for one year or equivalent training during higher education from the age of 18.
Source: China State Council Information Office
An adviser to Iran’s supreme leader warned on Monday that if the United States or Israel were to attack Iran under the pretext of nuclear concerns, the country would be compelled to pursue the development of nuclear weapons, according to the official news agency IRNA.
Ali Larijani, an adviser to Iran’s Supreme Leader Ali Khamenei, made the remarks in response to recent anti-Tehran threats made by U.S. President Donald Trump and Israel.
Larijani noted that Iran had been prohibited from acquiring nuclear weapons under a religious directive issued by Khamenei. However, he added, “If the United States makes any mistake, Iran will be forced to pursue nuclear weapons due to pressure from its people.”
Larijani stressed that taking military actions against Iran would have consequences, saying Iran’s nuclear program would not be destroyed through bombing.
Larijani said any potential indirect negotiation with the United States would be aimed at understanding each other’s demands and winning mutual concessions regarding the nuclear issue.
Trump, in an interview with NBC News on Sunday, threatened to launch “unprecedented military strikes” on Iran if it refused to negotiate over its nuclear program.
“If they don’t make a deal, there will be bombing like they’ve never seen before,” he said, claiming U.S. and Iranian officials are “talking,” without offering details.
The remarks followed a letter Trump sent to Iranian leaders in early March via the United Arab Emirates, proposing direct negotiations on Tehran’s nuclear activities.
Iranian President Masoud Pezeshkian confirmed on Sunday that Tehran had rejected the proposed face-to-face talks but left open the possibility of indirect talks.
He stressed that while Iran is not against negotiations in principle, Washington must first rectify its past “misconduct” and rebuild trust.
Source: China State Council Information Office
Sweden on Monday pledged 16 billion Swedish kronor (1.59 billion U.S. dollars) in new military support for Ukraine.
The package would bring Sweden’s total military assistance to Kiev to 29.5 billion Swedish kronor this year and around 80 billion Swedish kronor since 2022, the government said.
“This is our largest military support package to date,” Swedish Defence Minister Pal Jonson said on social media platform X.
The aid would include air defence systems, artillery, satellite communications, and naval support, as well as equipment from the Swedish Armed Forces and industry. (1 Swedish krona = 0.099 U.S. dollar)
Source: China State Council Information Office
Yemen’s Houthi armed group said in a statement early Tuesday that it has shot down a U.S. MQ-9 drone over Yemen’s central province of Marib.
“Our air defenses shot down a hostile American MQ-9 drone in the airspace of Marib province, using a locally manufactured missile,” Houthi military spokesperson Yahya Sarea said in a statement aired by the group’s al-Masirah TV.
“This is the sixteenth U.S. drone that our air defenses have successfully shot down since October 2023,” he said, without specifying the exact timing. Local Houthi media reported that the drone was downed on Monday.
“We affirm that we will continue to prevent Israeli navigation in the Red Sea and the Arabian Seas … until the aggression against Gaza stops and the siege is lifted,” Sarea said, adding they will also keep carrying out attacks against “enemy warships.”
He was referring to the U.S. Navy, including the aircraft carrier, stationed in the northern Red Sea.
The U.S. military has resumed airstrikes on Houthi-held areas in northern Yemen since March 15 in a bid to deter the group from attacking Israeli targets, the U.S. Navy, and international shipping lanes in the region.
On Monday, fresh U.S. airstrikes killed two people and injured a child in Bani Qa’is in Yemen’s northwestern province of Hajjah, according to residents and local health authorities.
Source: China State Council Information Office 3
Earthquake-affected residents have a meal in woods by a road in Nay Pyi Taw, Myanmar, March 31, 2025. [Photo/Xinhua]
The death toll from Friday’s 7.9-magnitude earthquake in Myanmar has risen to 2,056, with approximately 3,900 people injured and nearly 270 reported missing, according to the country’s State Administration Council Information Team on Monday.
International and domestic rescuers have been racing against time to save more lives in the quake-affected areas.
The first batch of disaster-relief material offered by the Chinese government arrived in Myanmar on Monday.
Source: China State Council Information Office 3
Tajik President Emomali Rahmon (C), Kyrgyz President Sadyr Japarov (L) and Uzbek President Shavkat Mirziyoyev hold a trilateral meeting in Khujand, Tajikistan, March 31, 2025. [Photo/Xinhua]
The presidents of Tajikistan, Kyrgyzstan and Uzbekistan signed a treaty on the junction point of their national borders in Khujand, Tajikistan’s second-largest city, on Monday.
According to the Tajik presidential press service, Tajik President Emomali Rahmon, Kyrgyz President Sadyr Japarov and Uzbek President Shavkat Mirziyoyev held a trilateral meeting in Khujand to formalize the agreement.
Rahmon called the treaty’s signing “a highly symbolic” event, highlighting its significance for the three countries. He said that Tajikistan deeply values its relations with Kyrgyzstan and Uzbekistan, which are founded on the principles of good neighborliness, equality, mutual respect and the consideration of each other’s interests. The comprehensive development of relations among the three countries is one of the priorities in Tajikistan’s foreign policy, according to a statement from the Tajik presidential office.
The leaders discussed key issues related to regional cooperation, underscoring the need to strengthen neighborly relations, advance joint infrastructure and economic projects, and expand the region’s tourism potential, according to a statement from the Kyrgyz presidential office.
Japarov said that regional integration is progressing well and that enhancing cooperation across various sectors will be critical to achieving sustainable development and prosperity in Central Asia.
Mirziyoyev extended his congratulations to Tajikistan and Kyrgyzstan for successfully resolving border-related issues and signing the delimitation treaty. He said the agreement would foster regional stability, promote sustainable development, and raise the international standing of the entire region.
In addition to the trilateral discussions, Rahmon and Mirziyoyev held a one-on-one meeting, during which they signed a protocol to exchange instruments of ratification for the treaty on allied relations between Tajikistan and Uzbekistan.
The meeting, conducted in an atmosphere of friendship and brotherhood, concluded with the exchange of these historic documents, officially bringing the treaty into force. The treaty was initially signed during a high-level bilateral summit in Dushanbe on April 18, 2023.
Meanwhile, Rahmon and Japarov also signed a protocol to exchange the ratification instruments for the border treaty between Tajikistan and Kyrgyzstan. The two leaders engaged in comprehensive discussions on cooperation in trade, economy, energy, culture and humanitarian affairs, culminating in the signing of the protocol, which finalized the agreement.
The border between Tajikistan and Kyrgyzstan stretches approximately 970 km, and delimitation talks began in 2002. Since the autumn of 2022, the two countries have conducted intensive negotiations, successfully finalizing the border’s delineation in December 2024.
Source: The Conversation (Au and NZ) – By David Dempsey, Associate Professor in Natural Resources Engineering, University of Canterbury
New Zealand’s North Island features a number of geothermal systems, several of which are used to generate some 1,000 MegaWatts of electricity. But deeper down there may be even more potential.
The government is now investing NZ$60 million to explore what is known as “supercritical” geothermal energy, following five years of feasibility research led by GNS Science.
Supercritical geothermal is hotter and deeper than conventional geothermal sources. It targets rocks between 375°C and 500°C, close to – but not within – magma.
Water at these temperatures and depths has three to seven times more energy for conversion to electricity, compared to ordinary geothermal generation at comparatively cooler temperatures of 200°C to 300°C.
The investment is staged, with $5 million earmarked for international consultants to design a super-deep well, and further funds to be released later for drilling to depths of up to six kilometres. Consultation is underway, with resources minister Shane Jones hoping to convince Māori landowners to collaborate.
GNS Science estimates the central North Island might have about 3,500MW worth of this resource, although actually accessing it might be difficult and expensive. The energy consulting firm Castalia was engaged to predict how much would be worth developing, suggesting between 1,300MW and 2,000MW, starting from 2037.
This would be a lot of extra power. Even better, it would reduce the peaks and troughs in generation that arise from more variable solar and wind sources, which are expected to make up a growing share of electricity generation in the future. Supercritical geothermal is reportedly cost effective, which means the technology deserves serious consideration. But such claims should be subject to scrutiny.
Successive governments have supported major state energy projects, including the Manapouri power station, petroleum exploration during the early 2000s, early geothermal drilling and the investigation of a pumped hydro scheme at Lake Onslow. The need for energy security clearly motivates such investments.
But New Zealand has a healthy geothermal industry. In the past two decades, geothermal companies have invested $2 billion in hundreds of new wells and new power plants. The industry already knows how to drill wells and profit from them. So why is the government stepping in now?
In practice, supercritical geothermal exploration and development faces several research, technical and economic risks. Private enterprise seems unwilling to bear them alone, prompting the government to step in to establish feasibility.
One problem supercritical geothermal might encounter is that drilling deeper might find lots of hot rock, but not much water. Drilling experiments in Japan and Italy have shown that reaching 500°C is possible, but in both cases the rock was so ductile (pliable and easily stretched) because of the high temperatures that it couldn’t keep open the gaps needed for water to flow.
However, the experience was different in Iceland where two wells managed to find water above 400°C. At this stage, it’s not clear whether this is because Iceland has special rocks – particularly basalts, which are less ductile – or because the country is being stretched through tectonic forces at a high rate. New Zealand is less able to count on basalts but it does experience rapid tectonic stretching.
Deep drilling would test this key hypothesis: is there permeability (gaps for water to flow through) at supercritical conditions? The only way to know for sure is to drill down.
If there isn’t permeability, the government could either abandon the investment or look into methods to create it. Multi-stage hydraulic fracturing (“fracking”) is an option which has worked overseas in the North American shale gas industry. It has also recently been demonstrated in some US geothermal systems.
Even if we did find permeability, the water produced in Iceland’s supercritical wells was enormously corrosive. A better option then might be to inject cold water into the well, suppressing the corrosive fluids. The injected water would heat up and rise into the overlying geothermal system – flushing the heat upwards.
However, both water injection and fracking can trigger earthquakes, perhaps a magnitude 4-5 every year or a magnitude 5-6 every few decades. This happened in 2017 in Pohang in South Korea where water injection triggered a magnitude 5.5 earthquake. It resulted in the cancellation of the geothermal project.
But there are many other geothermal projects where injection has not led to concerning earthquake activity.
The other risk is economic. Supercritical geothermal might one day be technically feasible, but its potential contribution in New Zealand will be limited if it can’t beat other generation technologies on cost.
Worldwide, the renewable energy sector continues to be disrupted by unprecedented cost decreases driven by innovations in utility-scale battery storage and solar photovoltaics.
But the supply chains are largely overseas, mostly concentrated in China. This adds geopolitical complexity to the energy security calculus. Homegrown solutions are a strength.
Nevertheless, the International Renewable Energy Agency reports cost reductions for solar and battery modules of 89% and 86% between 2010 and 2023. Solar costs drop 33% each time the built amount doubles. Drops in battery cost are enabling large deployments for daily smoothing of the peaks and troughs of intermittent solar and wind generation.
This shifting cost landscape creates financial uncertainty for energy investors. While cost declines might not continue forever, it’s hard to pick when they will level off. Meanwhile, geothermal costs have been flat for a long time. A billion-dollar geothermal investment might quickly become uncompetitive.
Despite all these caveats, we shouldn’t overlook the positive signal of the government taking a bet on New Zealand science and innovation. It will be exciting to see what’s happening at six kilometres of depth underground. And although the plan is not to drill for magma, an accidental strike (as happened in Iceland) would lead to some amazing science.
Lastly, energy security deserves to be taken seriously over the long term. While supercritical geothermal won’t fix our immediate vulnerability to winter scarcity, it could help avoid similar issues in the 2040s.
David Dempsey receives science funding from MBIE for research into geothermal energy.
– ref. Hotter and deeper: how NZ’s plan to drill for ‘supercritical’ geothermal energy holds promise and risk – https://theconversation.com/hotter-and-deeper-how-nzs-plan-to-drill-for-supercritical-geothermal-energy-holds-promise-and-risk-252910
Source: China State Council Information Office
Poland and the United States on Monday signed a nearly 2-billion-U.S. dollar agreement for logistical and technical support for Polish Patriot systems at the military base in Sochaczew.
The agreement includes the delivery of logistical support for the Patriot systems, currently being implemented in the Polish Armed Forces, and will include elements of technical support and training.
In 2025, Poland will allocate 4.7 percent of its gross domestic product (GDP) to defense, according to the country’s 2025 budget, up from 4.2 percent in 2024. This makes Poland a leading nation within NATO and the European Union in defense spending.
Source: China State Council Information Office 2
China on Monday published a guideline to improve the social credit system amid efforts to promote its high-quality development.
The guideline, issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council, includes 23 measures and aims to build a unified national market while maintaining a fair and orderly competitive market environment.
Under the guideline, a social credit system covering all types of entities, featuring unified rules and regulations, and being jointly built and with shared benefits, should be established to promote deep integration of the social credit system into all aspects of social and economic development.
Credit has played a key role in optimizing the business environment, promoting financial services for the real economy, and enhancing government governance and service efficiency, according to the National Development and Reform Commission (NDRC).
However, challenges remain in the social credit system, such as inconsistent regulatory frameworks and insufficient sharing and openness of credit information. Therefore, further improvements to the social credit system are necessary to provide foundational support for high-quality economic and social development, it said.
Regarding information security, the NDRC said construction of the social credit system adheres to the fundamental principle of defending information security and individual rights, while guarding against excessive information collection and any illegal or irregular activities on disclosure, processing, sale or use of information.
Source: China State Council Information Office 2
Nanjing, the capital of east China’s Jiangsu Province, on Monday announced that it is completely lifting home resale restrictions amid a series of measures to promote the stable and healthy development of the property sector.
Effective from Monday, commercial housing can be listed for resale as soon as the owner obtains a property ownership certificate, Jiang Haiqin, deputy director of the Nanjing Municipal Bureau of Housing Security and Real Estate, told a press briefing. The move aims to better accommodate residents’ diverse housing needs and facilitate the housing upgrades.
The city imposed housing resale restrictions in May 2017, banning owners from reselling their homes within three years of getting their property ownership certificates, in a bid to curb speculation and cool the home market.
To further support home buyers looking to upgrade their housing, the city authorities will also improve and expand its housing trade-in scheme, Jiang said.
The scheme will be backed by government and developer subsidies, financial institution support, and real estate broker assistance. As part of the first phase, authorities will allocate 100 million yuan (about 13.9 million U.S. dollars) in subsidies, supplemented by additional developer-led promotions, to boost housing upgrading purchases.
Nanjing is also introducing preferential financial policies for young people. Commercial banks will be encouraged to launch special mortgage products featuring low down payments, reduced interest rates, and extended loan terms for buyers under the age of 45.
The city’s latest efforts reflect a broader effort by Chinese authorities to stabilize and boost confidence in the real estate market, a key pillar of the country’s economy.
The latest policy shift comes as Nanjing’s housing market shows signs of recovery. Official data indicates that in the first two months of 2025, the city’s transaction area for new and second-hand homes rose by 29.9 percent and 16.7 percent year on year, respectively.
Source: People’s Republic of China – State Council News
BEIJING, March 31 — The People’s Bank of China, the country’s central bank, on Monday said that it conducted outright reverse repos worth 800 billion yuan (about 111.45 billion U.S. dollars) in March to maintain ample liquidity in the banking system.
In March, the central bank conducted three-month reverse repos totaling 500 billion yuan and six-month reverse repos totaling 300 billion yuan, it said in a statement.
Outright reverse repos — a tool the central bank introduced in October 2024 to manage liquidity in the banking system — are carried out once each month with a tenor of no more than one year.
The new tool has enriched the country’s monetary policy toolkit following the introduction of temporary repos, temporary reverse repos, and the buying and selling of treasury bonds.
Source: People’s Republic of China – State Council News
YANGON, March 31 — The first batch of disaster-relief material provided by the Chinese government arrived here on Monday.
The supplies were welcomed by Chinese Ambassador to Myanmar Ma Jia and Yangon Region Chief Minister U Soe Thein, among others.
The supplies included 1,200 tents, 8,000 blankets and more than 40,000 first aid kits, Ma said, adding that more supplies were being prepared and will soon arrive in Myanmar.
She noted that China is willing to assist in Myanmar’s earthquake relief and post-disaster reconstruction, and wished the people of Myanmar an early victory over the disaster and reconstruction of their homeland.
Thein said the supplies demonstrated a profound friendship of the Chinese government and people toward the Myanmar people.
A Chinese rescue team arrived first after the earthquake, Thein said, noting that multiple Chinese teams were sent later.
Expressing gratitude to China for its sincere help, Thein said the supplies would be sent to disaster-hit areas soon.
Source: People’s Republic of China – State Council News
CHILANGA, Zambia, March 31 — China and Zambia on Monday signed an agreement on the export of macadamia nuts to the Asian country.
The signing ceremony was attended by Charge d’Affaires of the Chinese Embassy Wang Sheng and Zambian Agriculture Minister Mtolo Phiri.
In his remarks, Wang said the signing of the agreement signifies a major step in opening up the Chinese market to Zambian nuts, which will greatly benefit local farmers in the foreseeable future.
According to him, in addition to this protocol and previous agreements on the export of blueberries from Zambia to China, negotiations are also underway for the export of other agricultural products, such as dry paprika and avocados.
“I am sure that before long, more high-quality agricultural products from this country will find their way to the Chinese market,” he said.
The agreement is an important outcome of the Forum on China-Africa Cooperation held in Beijing in September last year when China announced its commitment to granting all least developed countries, including Zambia, with which it has diplomatic relations, zero-tariff treatment for 100 percent of tariff lines.
According to him, as the world’s second-largest economy with a population of 1.4 billion, China offers a huge market for any country.
For his part, the Zambian minister thanked China for providing Zambia with an open and expansive market for its nut exports.
He said the move would help Zambia diversify its agricultural production and improve the quality of its products, as China maintains strict standards for agricultural imports.
The signing of the agreement reflected Zambia’s commitment to promoting trade and investment, as well as the strategic partnership with China, he added.
Source: People’s Republic of China – State Council News
HONG KONG, March 31 — A ceremony was held here on Monday to commemorate the 60th anniversary of Dongjiang water supply to Hong Kong, along with the opening of Dancing Water Drops Exhibition.
The ceremony was co-hosted by officials from the central government, the Hong Kong Special Administrative Region (HKSAR) government, and the Guangdong provincial government.
Addressing the occasion, HKSAR Chief Executive John Lee noted that Dongjiang water accounts for 70 to 80 percent of Hong Kong’s drinking water, supporting the city’s economic development and ensuring the well-being of its residents.
“Dongjiang water supply is not just an engineering project but also a profound symbol of familial ties, encouraging Hong Kong residents to remember the source of water and contribute to the rejuvenation of the Chinese nation,” Lee said.
Guangdong Governor Wang Weizhong said that Guangdong province has, over the past six decades, firmly implemented the central government’s decisions and regarded ensuring the safety of water supply to Hong Kong as a major mission.
Standing at a new starting point, Guangdong province will comprehensively and accurately implement the “one country, two systems” principle with unwavering commitment, effectively manage and utilize the water supply project, ensuring that Hong Kong compatriots continue to have access to safe and high-quality water, thus providing strong support for Hong Kong’s long-term prosperity and stability, Wang said.
The ceremony also featured a lighting ceremony for the exhibition, which will take place from Tuesday to June 13 at Tamar Park and the Central and Western District Promenade.
Source: People’s Republic of China – State Council News
VLADIVOSTOK, April 1 — Air China has officially launched its new Beijing-Vladivostok round-trip flight service, marking the occasion with an inaugural flight celebration at Vladivostok International Airport.
The maiden flight landed smoothly at 5:00 p.m. local time (0700 GMT) Monday and was greeted with a water salute upon arrival.
Speaking at the ceremony, Wang Jun, Acting Consul General of China in Vladivostok, said that the launch of the Beijing-Vladivostok route by Air China will further promote in-depth and practical cooperation between China and Russia in trade, culture, and tourism, making a valuable contribution to the overall development of China-Russia relations.
Denis Chmutov, General Manager of Vladivostok International Airport, said that Air China’s first scheduled flight between Vladivostok and Beijing will create the necessary conditions for strengthening regional business and tourism exchanges. With this route in operation, the total number of flights between Vladivostok and Beijing will exceed 20 per week.
The Beijing-Vladivostok route operated by Air China is scheduled to run round-trip flights on Mondays, Thursdays, and Saturdays, using Boeing 737-800 aircraft.
Source: GlobeNewswire (MIL-OSI)
QUEBEC CITY, Canada, April 01, 2025 (GLOBE NEWSWIRE) — LeddarTech® Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-powered low-level sensor fusion and perception software technology, LeddarVision™, for ADAS, AD and parking applications, announces its participation at Auto Shanghai 2025, taking place from April 23 to May 2, 2025.
LeddarTech will be exhibiting at Booth # 1BG040 in Hall 1.2, where its team will engage with customers and industry partners to discuss its latest advancements in sensor fusion and perception technology. Attendees will also have the chance to take a live demonstration ride in the LeddarNavigator, LeddarTech’s demo vehicle equipped with LeddarVision. This AI-driven low-level sensor fusion software enhances object detection, improves situational awareness and optimizes driving automation. The demo ride offers a firsthand experience of how LeddarVision enhances ADAS performance and vehicle safety in real-world scenarios.
At Auto Shanghai 2025, LeddarTech will showcase its latest low-level sensor fusion innovations, powered by the Texas Instruments (TI) TDA4 processor platform. LeddarTech and TI’s collaboration optimizes performance and cost, addressing key challenges in the Chinese automotive market, such as the development of “see-through” perception solutions and efficient 5V5R sensor configurations for highway “Navigate on Autopilot” (NoA) applications.
“China is one of the fastest-growing markets for ADAS and AD technology, and we are excited to showcase how LeddarTech’s scalable and cost-efficient perception solutions help OEMs and Tier 1 suppliers achieve enhanced safety and driving intelligence,” said Clive Szeto, Senior Director of Sales and Business Development, Asia at LeddarTech. “Our collaboration with Texas Instruments and our industry-leading low-level sensor fusion technology make LeddarTech a key enabler of next-generation ADAS solutions in China and beyond.”
Join us at Auto Shanghai 2025 to experience the future of ADAS technology firsthand. Visit LeddarTech at Booth #1BG040, schedule a meeting with our team or learn more on LeddarTech’s website.
About LeddarTech
A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.
LeddarTech is responsible for several remote-sensing innovations, with over 170 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.
Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.
Forward-Looking Statements
Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) our ability to continue to maintain compliance with Nasdaq continued listing standards following our transfer to the Nasdaq Capital Market; (ii) our ability to timely access sufficient capital and financing on favorable terms or at all; (iii) our ability to maintain compliance with our debt covenants, including our ability to enter into any forbearance agreements, waivers or amendments with, or obtain other relief from, our lenders as needed; (iv) our ability to execute on our business model, achieve design wins and generate meaningful revenue; (v) our ability to successfully commercialize our product offering at scale, whether through the collaboration agreement with Texas Instruments, a collaboration with a Tier 2 supplier or otherwise; (vi) changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs and plans; (vii) changes in general economic and/or industry-specific conditions; (viii) our ability to retain, attract and hire key personnel; (ix) potential adverse changes to relationships with our customers, employees, suppliers or other parties; (x) legislative, regulatory and economic developments; (xi) the outcome of any known and unknown litigation and regulatory proceedings; (xii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak, as well as management’s response to any of the aforementioned factors; and (xiii) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Maram Fityani, Media and Public Relations, LeddarTech Holdings Inc.
Tel.: + 1-418-653-9000 ext. 623, maram.fityani@leddartech.com
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LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”
Source: ACT Party
“New COVID isolation rules for Omicron are unworkable, and the way they were dumped on the Ministry of Health website on a Friday afternoon is unprofessional,” says ACT Leader David Seymour.
“Late on Friday, rules appeared on the Ministry of Health website to the effect that a person who tests positive must isolate for 14 days, and household members must isolate for a further 10 days.
“The way this has been announced, or rather not announced, echoes the cancellation of the 20 January MIQ lottery. That lottery was cancelled on the website of the Ministry of Business, Innovation and Employment, that was deleted and later confirmed in the form of a tweet. This is not leadership of communication in the middle of a pandemic.
“A Government prepared for Omicron would make clear announcements, rather than slipping critical details about isolation onto websites on Friday afternoon. Instead they have buried the rules on the Ministry of Health website with no formal announcement.
“The rules announced are unworkable, they will lead to a domino effect where a household can be down for a month. The Ministry of Health website says ‘The isolation period for COVID-19 cases in the community is at least 14 days, including 72 hours symptom-free,’ and ‘Your household members will need to remain in isolation for at least 10 days after you have been released as a case. This means they will need to be in isolation for longer than you as the case will [sic].’
“The effect is that if you test positive, members of your household may have to isolate for 24 days. People who cannot afford that will have a strong incentive not to get tested, defeating the purpose of the policy. If the advice is taken seriously, it will cripple the health workforce and supply chains more generally.
“New Zealand’s advantage with COVID is that we can learn from other countries, but we are doing the opposite here. Other countries are loosening their isolation requirements to keep hospitals opening and supermarkets shelves full, but we are tightening ours.
“By contrast, isolation rules in the UK were changed on Monday so that all people in the household of a case can leave isolation after five days if they have negative tests on two consecutive days. They have done this because their previous isolation rules devastated supply chains.
“In New South Wales, cases are required to isolate for 14 days but critical workers can leave earlier. Unlike New Zealand, New South Wales does not automatically deem household members as close contacts and require them to isolate. It allows people to use their judgement.
“The Government badly needs to front on this issue. It needs to explain why these rules are put in place, and why it believes the benefits of an isolation regime stricter than any other country bar China is justified. It should release the modelling it has relied on in an open and transparent way, the way this Government once promised to act.”
Source: People’s Republic of China – State Council News
BEIJING, March 31 — Senior Chinese official He Lifeng met with Ray Dalio, founder of Bridgewater Associates, in Beijing on Monday, and the two sides exchanged views on the macroeconomic situation and China-U.S. economic and trade relations.
He, a member of the Political Bureau of the Communist Party of China Central Committee and director of the Office of the Central Commission for Financial and Economic Affairs, said the Chinese economy has gotten off to a steady start and maintained good development momentum since the beginning of the year, with a unified national market taking shape and the release of consumption potential accelerating.
China will further deepen its reform comprehensively and promote high-level opening-up of its capital market, He said, adding that international investors are welcome to participate actively in the construction of China’s capital market and share in its development opportunities, He said.
Dalio said that China’s economic and social development achievements are there for all to see, and he expressed willingness to continue contributing to U.S.-China economic and trade cooperation.
US Senate News:
Source: United States Senator for Texas Ted Cruz
WASHINGTON, D.C. – U.S. Sen. Ted Cruz (R-Texas) introduced the Facilitate Lower Atmospheric Released Emissions (FLARE) Act. By promoting on-site energy generation, the bill decentralizes electricity sources and strengthens grid resiliency during periods of high demand or extreme weather.
Upon introduction, Sen. Cruz said, “I am committed to making Texas the number one place for Bitcoin mining. The FLARE Act incentivizes entrepreneurs and crypto miners to use natural gas that would otherwise be stranded. This bill takes advantage of Texas’s vast energy potential, reinforces our position as the home of the Bitcoin industry, and is good for the environment. I call upon my colleagues to expeditiously take up and advance this legislation.”
This bill is endorsed by The Digital Power Network.
Hailey Miller, Director of Government Relations & Public Policy for The Digital Power Network said, “The Digital Power Network strongly supports the introduction of the FLARE Act by Senator Cruz. This critical legislation will help eliminate unnecessary flaring and venting of natural gas while unlocking new opportunities for energy innovation in the United States. By providing permanent full expensing for infrastructure that captures and utilizes flared gas, the bill creates strong incentives for industries, including Bitcoin mining, to turn wasted energy into productive use cases that strengthen the grid and drive economic growth.
Bitcoin miners are uniquely positioned to help reduce emissions by harnessing stranded and wasted energy sources, and the FLARE Act ensures that American energy producers have the tools to deploy cutting-edge solutions that make our energy markets more efficient and resilient. We commend Senator Cruz for his leadership and look forward to working with Congress to advance this bill into law.”
Read the bill text here.
BACKGROUND
The Facilitate Lower Atmospheric Released Emissions (FLARE) Act makes permanent the 100% bonus depreciation for equipment used to intake natural gas and transforms it into electricity, and other productive uses. Additionally, the language prohibits entities owned by China, Iran, North Korea, or Russia from utilizing this cost recovery option. The bill reduces emissions by incentivizing the conversion of otherwise stranded natural gas into usable energy.
Source: GlobeNewswire (MIL-OSI)
RIVERSIDE, Calif., March 31, 2025 (GLOBE NEWSWIRE) — SolarMax Technology, Inc. (Nasdaq SMXT) (“SolarMax” or the “Company”), an integrated solar energy company, today reported financial results for the year ended December 31, 2024.
2024 Financial Highlights
David Hsu, CEO of SolarMax, stated, “Our 2024 results reflect a transitional year for SolarMax as we moved through a period of regulatory and market change in the residential solar segment. While revenue was lower compared to the prior year’s elevated levels, which were driven by pre-regulatory change purchasing activity. We also recognized certain one-time, non-cash expenses during the year, including goodwill impairment and stock-based compensation associated with our IPO, which are now fully reflected in our financials.”
“Looking ahead, we are encouraged by the progress we’re making toward expanding our commercial and industrial solar portfolio,” continued Hsu. “These projects represent an important potential growth opportunity and reflect our continued evolution as a diversified solar solutions provider. We believe our platform is well positioned to support this next phase of development and are excited about what lies ahead although we don’t currently have any contracts for the commercial and industrial market.”
About SolarMax Technology Inc.
SolarMax, based in California and founded in 2008, is a leader within the solar and renewable energy sector focused on making sustainable energy both accessible and affordable. SolarMax has established a strong presence in southern California. SolarMax is looking to generate growth with strategic initiatives that aim to scale commercial solar development services and LED lighting solutions in the US. Our website is www.solarmaxtech.com.
Any information contained on, or that can be accessed through, our website or any other website or any social media is not a part of this press release.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”) as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “would,” “could,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,” “future,” “likely” or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company’s strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements are subject to risk and uncertainties, including, but not limited to, including but not limited to the Company’s ability to develop its commercial solar business and to be accepted as a provider of commercial solar systems in the United States, and its ability to recommence its operations in China where is has not generated any revenue since 2021, and to respond to any changes in governmental policies relating to renewable energy and those factors described in “Cautionary Note on Forward-Looking Statements” “Item 1A. Risk Factors,” and “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on March 31, 2025. SolarMax undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.
Contact:
For more information, contact:
Stephen Brown, CFO
(951) 300-0711
Source: GlobeNewswire (MIL-OSI)
STMicroelectronics and Innoscience sign GaN technology development and manufacturing agreement
Geneva and Suzhou, March 31st, 2025 – STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, and Innoscience (HKEX:02577.HK), the world leader in 8” GaN-on-Si (gallium nitride on silicon) high-performance low-cost manufacturing, announce the signature of an agreement on GaN technology development and manufacturing, leveraging the strengths of each company to enhance GaN power solutions and supply chain resilience.
The companies have agreed on a joint development initiative on GaN power technology, to advance the promising future of GaN power for consumer electronics, datacenters, automotive and industrial power systems and many more applications in the coming years. In addition, the agreement allows Innoscience to utilize ST’s front-end manufacturing capacity outside China for its GaN wafers, while ST can leverage Innoscience’s front-end manufacturing capacity in China for its own GaN wafers. The common ambition is for each company to expand their individual offering in GaN with supply chain flexibility and resilience to cover all customers’ requirements in a wide range of applications.
Marco Cassis, President, Analog, Power & Discrete, MEMS and Sensors of STMicroelectronics declared: “ST and Innoscience are both Integrated Device Manufacturers, and with this agreement we will leverage this model to the benefit of our customers globally. First, ST will be accelerating its roadmap in GaN power technology to complement its silicon and silicon carbide offering. Second, ST will be able to leverage a flexible manufacturing model to serve customers globally.”
Dr. Weiwei Luo, Chairman and Founder of Innoscience, stated “GaN technology is essential to improve electronics, creating smaller and more efficient systems which save electric power, lower cost, and reduce CO2 Emissions. Innoscience pioneered mass production of 8-inch GaN technology and has shipped over 1 billion GaN devices into multiple markets, and we are very excited to move into strategic collaboration with ST. The joint collaboration between ST and Innoscience will further expand and accelerate the adoption of GaN technology. Together the teams at Innoscience and ST will develop the next generations of GaN technology”.
GaN power devices leverage fundamental material properties that enable new standards of system performance in power conversion, motion control, and actuation, offering significantly lower losses, which allows for enhanced efficiency, smaller size, and lighter weight, thus reducing the overall solution cost and carbon footprint; these devices are rapidly being adopted in consumer electronics, data center and industrial power supplies, and solar inverters, and are being actively designed into next-generation EV powertrains due to their substantial size and weight reduction benefits.
About STMicroelectronics
At ST, we are 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are on track to be carbon neutral in all direct and indirect emissions (scopes 1 and 2), product transportation, business travel, and employee commuting emissions (our scope 3 focus), and to achieve our 100% renewable electricity sourcing goal by the end of 2027. Further information can be found at www.st.com.
About Innoscience
Innoscience (HKEX:02577.HK) is the global leader in gallium nitride process innovation and power device manufacturing. Innoscience’s device design and performance set the worldwide standard for GaN, and the culture of continuous improvement will accelerate GaN performance and market adoption. The company’s gallium nitride products are used in multiple low, medium and high voltage applications, with GaN process nodes covering 15V to 1200V. Wafers, discrete devices, integrated power ICs, and modules provide customers with robust GaN solutions. With 800 patents granted or pending, Innoscience’s products are known for reliability, performance, and functionality within the fields of consumer electronics, automotive electronics, data centers, renewable energy and industrial power. Innoscience creates a bright future for GaN. Please visit www.innoscience.com for more information.
Contacts
Media Relations
Alexis Breton
Group VP Corporate External Communications
Tel: +33.6.59.16.79.08
alexis.breton@st.com
Investor Relations
Jérôme Ramel
EVP Corporate Development & Integrated External Communication
Tel: +41.22.929.59.20
jerome.ramel@st.com
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