Category: China

MIL-OSI United Nations: Amidst Renewed Offensives in Democratic Republic of Congo, Head of UN Presence Says All Parties Must Honour Commitment to Silence Guns, Pursue Peace

Source: United Nations General Assembly and Security Council

An increasingly volatile situation — driven by resurgent incursions by rebel militia groups — is killing and displacing civilians in the eastern region of the Democratic Republic of the Congo, the Head of the United Nations Mission in that country warned the Security Council today.

“The political and security context remains very tense,” said Bintou Keita, the Secretary-General’s Special Representative in that country and Head of the United Nations Organization Stabilization Mission in the Democratic Republic of the Congo (MONUSCO). In the country’s east, the Congo River Alliance and M23 — supported by the Rwanda Defence Force — are consolidating control over the province of South Kivu, threatening to expand into the provinces of Tshopo and Maniema and installing a parallel administration. All parties must “honour their stated commitment to silence the guns and pursue a peaceful solution”, she stressed.

Meanwhile, the overall security situation in the provinces of North Kivu and Ituri — where over 60 per cent of MONUSCO forces are deployed — remains volatile. The Allied Democratic Forces have exploited the security vacuum created by the redeployment of the Armed Forces of the Democratic Republic of the Congo to launch attacks killing hundreds of civilians. Further, clashes between the Coalition of Congolese Democrats and Zaïre armed groups have escalated in Ituri. The human-rights situation is also deteriorating, with abuses against civilians — including summary executions — and the 2025 Humanitarian Response Plan is only 8.2 per cent funded.

In this challenging context, she said, MONUSCO remains fully committed to its mandate, protecting civilians and facilitating Government-led consultations with armed groups. However, the dramatic deterioration of the security situation has seriously impacted discussions between MONUSCO and Congolese authorities on the gradual disengagement of the Mission and the transition in South Kivu. Reiterating that lasting peace in the east can only be achieved through a political solution, she called for the urgent reopening of Goma and Kavumu airports — lifelines for humanitarian efforts and key to the rotation of MONUSCO troops.

Also addressing the Council was Charlotte Slente, Secretary General of the Danish Refugee Council, who said that her organization has been “racing to respond to the erratic and constant movement of internally displaced persons seeking safety” since the end of January. The recent explosion of violence in and around Goma has exacerbated the already-dire humanitarian situation in the east and led to 660,000 people being forcibly displaced — in addition to the 6.7 million already displaced across the country at the end of 2024. “With little notice, families were kicked out of their shelters, forced to leave with nothing but the clothes they were wearing,” she said.

Detailing the appalling living conditions in makeshift camps, churches and schools, she noted widespread looting, shootings, rampant sexual violence, arbitrary arrests and reports of boys and men being forced to join armed groups. “One person told us they wake each morning to find new dead bodies on the streets,” she recalled, adding that 98 per cent of her organization’s case management for human-rights violations has been for rape. And, while humanitarian work is under extreme pressure due to recent funding cuts, the displacement crisis will only worsen. Stressing the need to ensure safe and voluntary return for internally displaced persons, she also called on the Council to ensure humanitarian access across the country.

Kinshasa, Kigali Spar Over Causes of Conflict

In the ensuing discussion, representatives of Kinshasa and Kigali sparred over the causes and culprits driving the worsening conflict, with the representative of the Democratic Republic of the Congo citing the “chaotic” humanitarian situation in east. He highlighted a series of atrocities perpetrated by the Rwanda Defence Force and M23, including killings, torture, massive destruction and numerous lootings. The alarming situation underscores the urgent need to implement — “to the letter” — the provisions of resolution 2773 (2025) to end the violence and protect civilians.

He added that the extent of the violence suggests that “we can no longer allow this crisis to drag out for eternity, claiming that an African problem requires an African solution”. Doing so, he stressed, would betray international solidarity. To date, no Rwandan soldier has withdrawn from Congolese territory, and Kigali has shown blatant disregard for the peace process to which Kinshasa has been committed. Increased pressure — including more robust sanctions — are needed against M23 and its Rwandan allies, he underscored, stating that Rwanda has no right to deploy its army on a sovereign country’s territory.

However, Olivier Nduhungirehe, Minister for Foreign Affairs and International Cooperation of Rwanda, stressed that the conflict in the eastern region “was not started by Rwanda” — despite burden for the same being placed “squarely” on its shoulders. The root cause of the violence is the continued preservation of the genocidal militia known as the Democratic Liberation Forces of Rwanda — or FDLR — despite its record of ethnic massacres, child recruitment and destabilization of both the Democratic Republic of the Congo and Rwanda. In that context, he underscored that “the defensive measures we have put in place will remain until there is a credible framework for long-term security guarantees along our border with the DRC”.

Calling the case of MONUSCO “particularly troubling”, he said that while today’s report accurately cites abusive armed groups, it shows a clear pattern of bias. Alarmingly, “MONUSCO provided direct support to the military operation of the DRC coalition, placing itself in a situation of belligerence — even sometimes fighting alongside the same groups it was created to neutralize,” he stressed, adding that the Mission has wildly exaggerated claims of civilian casualties. Nonetheless, MONUSCO can still play a positive role if it abides by its mandate, he said.

Council Members Urge End to Violence

As for Council members, the representative of Sierra Leone — also speaking for Algeria, Guyana and Somalia — expressed concern over the “catastrophic” humanitarian situation in the eastern region of the Democratic Republic of the Congo, which is inflicting a severe toll on the Congolese people. While urging an immediate cessation of hostilities, he nevertheless welcomed recent steps towards de-escalation, particularly the ceasefire announcement by M23.

He further welcomed the joint road map to peace adopted by the East African Community and the Southern African Development Community (SADC), as well as commitments made by both Kinshasa and Kigali in Doha to remain fully engaged in the Luanda and Nairobi processes. Stressing that all processes for peace and security in the Democratic Republic of the Congo should align with African-led processes, he stated that external mercenary forces risk exacerbating the situation.

Multiple speakers today, among them the representative of the United States, denounced the hostilities and the increasingly antagonistic rhetoric coming from Rwandan Government officials and M23 — including threats against senior MONUSCO leadership and false claims that MONUSCO supports the FDLR. Panama’s delegate pointed to reports of M23’s indiscriminate attacks against hospitals, abductions of civilians and gang rapes.

“There is no military solution to this conflict,” affirmed Pakistan’s representative, calling all sides — particularly M23 — to engage in all relevant African-led processes to reach a peace agreement. The United Kingdom’s delegate, condemning the capture of the town of Walikale, stressed that the Rwanda Defence Force must withdraw from sovereign Congolese territory. He also said that M23’s continued restrictions on MONUSCO have hampered the Mission’s ability to deliver key tasks.

However, the Russian Federation’s delegate pushed back on the “highly dubious” hospitality extended by MONUSCO to members of European private military companies — as the Mission’s mandate to disarm, demobilize and reintegrate former combatants “bears no relation to the events we witnessed thanks to media reporting”. Given the potential further transition of MONUSCO, the Council must act without allowing the situation to deteriorate due to changes in the configuration of the peacekeeping presence in the country, she stressed.

On the humanitarian situation, the representatives of France and Slovenia condemned M23’s unacceptable restrictions on MONUSCO and humanitarian actors in Goma and occupied areas of North Kivu. On that, the representative of Denmark — Council President for March — spoke in her national capacity to call for the immediate reopening of the Goma and Kavumu airports. Further, she voiced concern over threats and reprisals against human-rights defenders, journalists, civil society and judicial authorities.

On the diplomatic front, China’s representative welcomed recent direct talks in Qatar between Kinshasa and Kigali, as well as the former’s decision to engage in direct dialogue with M23. “China always supports African countries in solving African problems in African ways,” he stated. Greece’s delegate agreed, urging leaders of both countries to re-engage immediately in political dialogue, while the representative of the Republic of Korea called on armed groups to engage in Kinshasa’s “Disarmament, Demobilization, Community Recovery and Stabilization Programme”.

Also on diplomatic engagement, Angola’s representative noted that, in 2022, the African Union mandated that his country’s President mediate the crisis. However, he recalled that the relevant summit, scheduled for 15 December 2024, did not occur as Rwanda insisted that the M23 issue be addressed, while the Democratic Republic of the Congo held that it did not fit into the framework of the Luanda Process. Despite impediments, including some foreign to an African solution, the understandings reached within the framework of the Luanda Process constitute a solid political basis for further efforts, he emphasized.

Burundi’s delegate, for his part, affirmed that only a comprehensive regional solution will put an end to the current crisis and achieve lasting peace. He also urged the Council to ensure implementation of resolution 2773 (2025), observing: “Non-compliance with these resolutions risks weakening the authority of this Council.” He added that failure to respect the territorial integrity of the Democratic Republic of the Congo could set a “dangerous precedent, which some States could make use of to nibble at portions of the territory of other sovereign States”.

MIL OSI United Nations News –

March 28, 2025

MIL-OSI: YXT.com Reports Full Year 2024 Unaudited Financial Results

Source: GlobeNewswire (MIL-OSI)

SUZHOU, China, March 28, 2025 (GLOBE NEWSWIRE) — YXT.com Group Holding Limited (NASDAQ: YXT) (“YXT.com” or the “Company”), a provider of AI-enabled enterprise productivity solutions, today announced its unaudited financial results for the full year ended December 31, 2024 and a US$10 million Share Repurchase Program.

Financial Highlights for the Full Year of 2024

Total revenues were RMB331.2 million (US$45.4 million) for the full year of 2024, compared with RMB424.0 million in the prior year. On the pro forma basis as if the deconsolidation of CEIBS Publishing Group Limited (“CEIBS PG”) occurred as of the beginning of 2022, the pro forma revenues would have been RMB327.9 million (US$44.9 million) for the full year of 2024, compared with RMB324.6 million for the full year of 2023, representing an increase of 1.0%.
Gross margin was 61.8% for the full year of 2024, compared with 54.1% in the prior year, representing an increase of 7.7%.
Net loss was RMB92.1 million (US$12.6 million), compared with RMB229.8 million in the prior year, representing a decrease of 59.9%.
Number of subscription customers was 2,405 as of December 31, 2024, compared with 3,230 as of December 31, 2023. After adjusting for the deconsolidation of CEIBS PG, which accounted for 686 customers, the net change of 139 customers reflects the Company’s strategic shift toward large enterprise accounts with consistent demand for corporate learning solutions, and reflects a planned reduction of small and medium-sized customers from the Company’s portfolio.
Net revenue retention rates of subscription customers remained stable at 100.9%, compared with 101.4% in the prior year.

Mr. Peter Lu, Director, Founder and Chairman of the Board of YXT.com, commented, “The rapid development of AI has created tremendous opportunities for our company, allowing us to successfully transform from digital learning to intelligent learning and expand our offerings into talent management. In 2024, our AI initiatives delivered tangible results in cost reduction and efficiency improvement, significantly narrowing our losses while enhancing value for both customers and shareholders. Our three new AI-powered business lines have already entered customer validation phase and will soon be brought to market, further expanding our business portfolio. As we execute our global expansion strategy this year, YXT.com is positioned at the forefront of the AI-driven industry transformation, ready to create sustainable value for our customers and investors alike.”

Mr. Pun Leung Liu, Chief Financial Officer of YXT.com, added, “Our financial results for the full year of 2024 demonstrate the effectiveness of our operational optimization initiatives. Through strategic cost management and AI-enabled operational improvements across our business, we significantly narrowed our net loss to RMB92.1 million from RMB229.8 million. We remain committed to disciplined cost control while continuing to invest in strategic areas that drive long-term growth, particularly our technology capabilities and enterprise-focused solutions. With a healthy balance sheet and solid development strategy, we believe we are well-positioned to create long-term value for our shareholders.”

Financial Results for the Full Year of 2024

Revenues

Revenues were RMB331.2 million (US$45.4 million), compared with RMB424.0 million in the prior year, representing a decrease of 21.9%. On the pro forma basis as if the deconsolidation of CEIBS PG occurred as of the beginning of 2022, the pro forma revenues would have been RMB327.9 million (US$44.9 million) for the full year of 2024, compared with RMB324.6 million for the full year of 2023, representing an increase of 1.0%.

Revenues from corporate learning solutions were RMB325.6 million (US$44.6 million), compared with RMB411.8 million in the prior year.
- Revenues from subscription based corporate learning solutions were RMB301.8 million (US$41.3 million), compared with RMB347.8 million in the prior year. The change was primarily due to (i) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB64.9 million; and (ii) the strategic suspension of certain ancillary online teaching tools. This was partially offset by an RMB18.9 million increase driven by the Company’s updated business expansion strategy of focusing on large enterprise subscription customers with strong and steady demand for corporate learning solutions.
- Revenues from non-subscription based corporate learning solutions were RMB23.8 million (US$3.3 million), compared with RMB64.0 million in the prior year. The change was primarily due to (i) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB31.2 million; and (ii) reduced offline activities reflecting the Company’s strategic shift towards subscription-based corporate learning solutions.
Revenues from others were RMB5.6 million (US$0.8 million), compared with RMB12.2 million in the prior year. The change primarily reflects fewer customized software projects completed in 2024, aligning with the Company’s new strategic focus.

Cost of revenues

Cost of revenues was RMB126.5 million (US$17.3 million), compared with RMB194.5 million in the prior year, representing a decrease of 34.9%. This was mainly due to (i) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB44.5 million; and (ii) cost reductions resulting from operational adjustments. Improved cost efficiencies were achieved through lower instructor compensation costs stemming from reduced offline activities, aligning with the Company’s strategic shift towards subscription-based corporate learning solutions, as well as through continuous efforts in optimizing human resources and effectively managing expenses.

Gross margin

Gross margin was 61.8%, compared with 54.1% in the prior year, representing an increase of 7.7%. This was mainly due to the Company’s new strategic focus on large enterprise subscription customers and ongoing cost optimization efforts.

Sales and marketing expenses

Sales and marketing expenses were RMB144.2 million (US$19.8 million), compared with RMB244.4 million in the prior year, representing a decrease of 41.0%. This was mainly due to (i) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB62.7 million; and (ii) decreases in compensation paid to sales and marketing staff due to the Company’s efforts in optimizing its human resources.

Research and development expenses

Research and development expenses were RMB116.1 million (US$15.9 million), compared with RMB176.5 million in the prior year, representing a decrease of 34.2%. This was mainly due to (i) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB22.5 million; and (ii) decreases in compensation paid to research and development staff due to the Company’s efforts in optimizing its human resources and increasing its research and development efficiency.

General and administrative expenses

General and administrative expenses were RMB138.4 million (US$19.0 million), compared with RMB142.9 million in the prior year, representing a decrease of 3.1%. This was mainly due to (i) the deconsolidation of CEIBS PG starting from January 15, 2024, resulting in a decrease of RMB17.3 million; and (ii) a decrease in share-based compensation paid to general and administrative staff due to the completion of the amortization of certain share-based incentives. The decrease was partially offset by one-time IPO-related professional fees and litigation costs occurring in 2024.

Net loss and adjusted net loss

Net loss was RMB92.1 million (US$12.6 million), compared with a net loss of RMB229.8 million in the prior year, representing a decrease of 59.9%. Adjusted net loss was RMB199.3 million (US$27.3 million), compared with an adjusted net loss of RMB277.6 million in the prior year, representing a decrease of 28.2%.

Earnings/(loss) per share

Basic net income per share was RMB2.90 (US$0.40) and diluted net loss per share was RMB0.55 (US$0.07), compared with basic and diluted net loss per share of RMB4.71 in the prior year. The improvement in basic earnings per share was primarily attributable to (i) the deemed contribution to ordinary shareholders due to modifications and extinguishment of the Company’s convertible redeemable preferred shares on July 1, 2024; and (ii) lower net loss in the full year of 2024 as compared with the prior year. The improvement was partially offset by net accretion on convertible redeemable preferred shares to redemption value in the full year of 2024.

Recent Development

On March 27, 2025, the Company has successfully completed a strategic rebranding initiative, adopting the “Radnova” name for its potential international operations. YXT.com operates its business in China through Jiangsu Radnova Intelligence Technology Co., Ltd. (formerly Jiangsu Yunxuetang Network Technology Co., Ltd.). As part of its global expansion, the Company has established a new entity in Singapore to serve as a headquarter for its overseas business to be conducted in the future. This strategic location will enable YXT.com to better serve and expand into international markets. The “Radnova” trademark will be used for the Company’s future international operations, symbolizing its transition from a China-focused e-learning company to a global AI-enabled enterprise productivity solutions provider.

YXT.com today announced that its board of directors has authorized the Company to adopt a share repurchase program under which the Company may repurchase up to US$10 million of its ordinary shares in the form of American depositary shares (“ADSs”) during a two-year period (the “Share Repurchase Program”).

The Company’s proposed repurchases, if adopted, may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in derivative transactions, and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The timing, structure and dollar amount of repurchase transactions will be subject to among others, the market conditions, terms to be agreed with the relevant repurchase agent, the trading prices of ADSs, and the Securities and Exchange Commission (the “SEC”) Rule 10b-18 and/or Rule 10b5-1 requirements. The Company’s board of directors will review the Share Repurchase Program periodically, and may authorize adjustment of its terms and size or suspend or discontinue the program. The Company plans to fund repurchases from its existing cash balance.

Balance Sheet

As of December 31, 2024, the Company had cash and cash equivalents and restricted cash, short-term investments and long-term bank deposits of RMB418.2 million (US$57.3 million), compared with RMB496.2 million as of December 31, 2023.

Conference Call Information

The Company’s management team will hold a conference call at 9:00 P.M. U.S. Eastern Time on Thursday, March 27, 2025 (or 9:00 A.M. Beijing Time on Friday, March 28, 2025) to discuss the financial results. Details for the conference call are as follows:

All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers and a unique access PIN, which can be used to join the conference call.

A live and archived webcast of the conference call will be available at the Company’s investor relations website at https://ir.yxt.com/.

Non-GAAP Financial Measures

In evaluating our business, we consider and use adjusted net loss as a supplemental non-GAAP measure to review and assess our operating performance. Adjusted net loss is net loss excluding amortization of incremental intangible assets resulting from business combination, gain on deconsolidation of CEIBS PG, share-based compensation, change in fair value of derivative liabilities, net of income taxes, to the extent applicable. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We present the non-GAAP financial measure because it is used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of the non-GAAP measure facilitates investors’ assessment of our operating performance.

The non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. The non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using the non-GAAP financial measure is that it does not reflect all items of income and expense that affect our operations. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited. We compensate for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure.

Exchange Rate Information

This announcement contains translations of certain Renminbi (“RMB”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from Renminbi to U.S. dollars were made at the rate of RMB7.2993 to US$1.00, the exchange rate on December 31, 2024, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the Renminbi or U.S. dollars amounts referred to could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all.

Safe Harbor Statements

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to”, or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

About YXT.com

YXT.com (NASDAQ: YXT) is a technology company focusing on enterprise productivity solutions. With a mission to “Empower people and organization development through technology,” The Company strives to become the supreme provider in building and boosting enterprise productivity by combining over a decade of experience in tech-enabled talent learning and development and with AI-augmented task copilots and unleashing the power of knowledge and synergy. Since its inception, YXT.com has supported and received recognition from numerous Global and China Fortune 500 companies.

YXT.com operates its business in China through “Jiangsu Radnova Intelligence Technology Co., Ltd.,” formerly known as “Jiangsu Yunxuetang Network Technology Co., Ltd.”. YXT.com has established an entity in Singapore to serve as a headquarter for its overseas business to be conducted in the future, with the “Radnova” trademark to serve international markets.

Contact
Robin Yang
ICR, LLC
YXT.IR@icrinc.com
+1 (646) 405-4883


YXT.COM GROUP HOLDING LIMITED UNAUDITED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except for share and per share data, unless otherwise noted)

	As of December 31,	As of December 31,
	2023	2024
	RMB	RMB	US$

ASSETS
Current assets:
Cash and cash equivalents	320,489	417,920	57,255
Restricted Cash	–	322	44
Short-term investments	58,128	–	–
Accounts receivable, net	32,790	19,386	2,656
Amounts due from related parties	–	2,000	274
Prepaid expenses and other current assets, net	12,028	35,791	4,903
Total current assets	423,435	475,419	65,132

Non-current assets:
Property, equipment and software, net	23,402	15,175	2,079
Intangible assets, net	12,720	7,069	968
Goodwill	164,113	163,837	22,446
Long-term investments	126,341	114,432	15,677
Operating lease right-of-use assets, net	34,997	25,655	3,515
Other non-current assets	22,265	20,349	2,788
Long-term bank deposits	117,573	–	–
Total non-current assets	501,411	346,517	47,473
Total assets	924,846	821,936	112,605

LIABILITIES, MEZZANINE AND SHAREHOLDERS’ (DEFICIT)/EQUITY
Current liabilities
Accounts payable	17,855	7,389	1,013
Amounts due to related parties	–	2,452	336
Short-term borrowings	46,800	163,000	22,331
Deferred revenue, current	188,485	125,428	17,184
Acquisition consideration payable	14,775	14,775	2,024
Other payable and accrued liabilities	89,937	72,028	9,867
Derivative liabilities	100,279	–	–
Operating lease liabilities, current	15,818	8,966	1,228
Total current liabilities	473,949	394,038	53,983

Non-current liabilities
Long-term borrowings	219,000	125,500	17,193
Operating lease liabilities, non-current	20,257	17,458	2,392
Deferred revenue, non-current	58,952	57,710	7,906
Total non-current liabilities	298,209	200,668	27,491
Total liabilities	772,158	594,706	81,474


YXT.COM GROUP HOLDING LIMITED UNAUDITED CONSOLIDATED BALANCE SHEETS (All amounts in thousands, except for share and per share data, unless otherwise noted)

	As of December 31,		As of December 31,
	2023		2024
	RMB		RMB		US$

Mezzanine equity
Series A convertible redeemable preferred shares (US$0.0001 par value, 15,040,570 and nil shares authorized, issued and outstanding as of December 31, 2023 and December 31, 2024, respectively)	408,139		–		–
Series B convertible redeemable preferred shares (US$0.0001 par value, 7,085,330 and nil shares authorized, issued and outstanding as of December 31, 2023 and December 31, 2024, respectively)	199,518		–		–
Series C convertible redeemable preferred shares (US$0.0001 par value, 23,786,590 and nil shares authorized, issued and outstanding as of December 31, 2023 and December 31, 2024, respectively)	493,788		–		–
Series D convertible redeemable preferred shares (US$0.0001 par value, 37,152,161 and nil shares authorized, issued and outstanding as of December 31, 2023 and December 31, 2024, respectively)	1,059,434		–		–
Series E convertible redeemable preferred shares (US$0.0001 par value, 26,417,318 and nil shares authorized, issued and outstanding as of December 31, 2023 and December 31, 2024, respectively)	1,402,802		–		–
Total mezzanine equity	3,563,681		–		–

Shareholders’ (deficit)/equity
Ordinary shares (US$0.0001 par value 390,518,031 and 500,000,000 shares authorized as of December 31, 2023 and December 31, 2024, respectively; 48,253,425 and 180,226,597 shares issued and outstanding as of December 31, 2023 and December 31, 2024, respectively)	33		129		18
Additional paid-in capital	16,671		3,489,553		478,067
Statutory reserve	4,322		–		–
Accumulated other comprehensive income	23,775		25,096		3,438
Accumulated deficit	(3,490,681	)	(3,287,548	)	(450,392	)
Total YXT.COM Group Holding Limited shareholders’ (deficit)/equity	(3,445,880	)	227,230		31,131
Non-controlling interests	34,887		–		–
Total shareholders’ (deficit)/equity	(3,410,993	)	227,230		31,131
Total liabilities, mezzanine equity and shareholders’ (deficit)/equity	924,846		821,936		112,605


YXT.COM GROUP HOLDING LIMITED UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (All amounts in thousands, except for share and per share data, unless otherwise noted)

	Year ended December 31,
	2023		2024
	RMB		RMB		US$

Revenues:
Corporate learning solutions	411,822		325,579		44,604
Others	12,194		5,611		769
Total revenues	424,016		331,190		45,373

Cost of revenues	(194,474	)	(126,522	)	(17,333	)
Sales and marketing expenses	(244,379	)	(144,217	)	(19,758	)
Research and development expenses	(176,537	)	(116,105	)	(15,906	)
General and administrative expenses	(142,852	)	(138,392	)	(18,960	)
Other operating income	5,629		6,974		955
Loss from operations	(328,597	)	(187,072	)	(25,629	)

Interest and investment income	4,613		6,494		890
Interest expense	(4,650	)	(10,699	)	(1,466	)
Impairment of available‑for‑sale debt securities	(13,144	)	(14,464	)	(1,981	)
Gain on deconsolidation of CEIBS Publishing Group	–		78,760		10,790
Foreign exchange (loss)/gain, net	(350	)	550		75
Change in fair value of derivative liabilities	102,419		34,378		4,710
Loss before income tax expense	(239,709	)	(92,053	)	(12,611	)
Income tax benefit	9,871		–		–
Net loss	(229,838	)	(92,053	)	(12,611	)

Net loss attributable to non-controlling interests shareholders	9,383		300		41

Net loss attributable to YXT.COM Group Holding Limited	(220,455	)	(91,753	)	(12,570	)


YXT.COM GROUP HOLDING LIMITED UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (All amounts in thousands, except for share and per share data, unless otherwise noted)

	Year ended December 31,
	2023		2024
	RMB		RMB		US$

Net loss attributable to YXT.COM Group Holding Limited	(220,455	)	(91,753	)	(12,570	)
Deemed contribution to ordinary shareholders due to modifications and extinguishment on convertible redeemable preferred shares	–		672,170		92,087
Deemed dividend to convertible redeemable preferred share shareholders due to modifications	–		(5,940	)	(814	)
Net accretion on convertible redeemable preferred shares to redemption value	(9,452	)	(290,543	)	(39,804	)
Net (loss)/income attributable to ordinary shareholders of YXT.COM Group Holding Limited	(229,907	)	283,934		38,899

Net loss	(229,838	)	(92,053	)	(12,611	)
Other comprehensive loss
Foreign currency translation adjustment, net of tax	2,385		3,742		513
Unrealized gain/(loss) on investments in available-for-sale debt securities, net of tax	6,988		(2,421	)	(332	)

Total comprehensive loss	(220,465	)	(90,732	)	(12,430	)

Total comprehensive loss attributable to non-controlling interests	9,383		300		41

Total comprehensive loss attributable to YXT.COM Group Holding Limited	(211,082	)	(90,432	)	(12,389	)

Net (loss)/income attributable to ordinary shareholders of YXT.COM Group Holding Limited	(229,907	)	283,934		38,899
—Weighted average number of ordinary shares – basic	48,781,392		97,788,561		97,788,561
—Weighted average number of ordinary shares – diluted	48,781,392		168,152,425		168,152,425

Net (loss)/income per share attributable to ordinary shareholders:
—Basic	(4.71	)	2.90		0.40
—Diluted	(4.71	)	(0.55	)	(0.07	)


YXT.COM GROUP HOLDING LIMITED UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (All amounts in thousands, except for share and per share data, unless otherwise noted)

	Year ended December 31,
	2023		2024
	RMB		RMB		US$

Net loss	(229,838	)	(92,053	)	(12,611	)
Adjustments:
Amortization of incremental intangible assets resulting from business combination	16,340		–		–
Impairment of intangible assets	21,660		–		–
Gain on deconsolidation of CEIBS Publishing Group	–		(78,760	)	(10,790	)
Share-based compensation	26,123		5,879		805
Change in fair value of derivative liabilities	(102,419	)	(34,378	)	(4,710	)
Adjusted loss before income taxes	(268,134	)	(199,312	)	(27,306	)
Adjusted income taxes	(9,500	)	–		–
Adjusted net loss	(277,634	)	(199,312	)	(27,306	)

The MIL Network –

March 28, 2025

MIL-OSI: Qifu Technology, Inc. Announces Completion of Offering of US$690 Million Cash-par Settled Convertible Senior Notes

Source: GlobeNewswire (MIL-OSI)

SHANGHAI, China, March 27, 2025 (GLOBE NEWSWIRE) — Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a leading AI-empowered Credit-Tech platform in China, today announced the completion of its offering of convertible senior notes (the “Notes Offering”) in an aggregate principal amount of US$690 million due 2030 (the “Notes”), including the initial purchasers’ full exercise of option to purchase an additional US$90 million principal amount of the Notes. The Notes have been offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).

The Company plans to use the net proceeds from the Notes Offering for repurchasing the American depositary shares (“ADSs”) and/or class A ordinary shares of the Company concurrently with the pricing of the Notes Offering and from time to time after the pricing of the Notes Offering pursuant to a newly established share repurchase plan (the “March 2025 Share Repurchase Plan”) authorized by the board of directors of the Company. The March 2025 Share Repurchase Plan will run in addition to the Company’s existing share repurchase plan announced in November 2024.

The Company expects the offering to be immediately accretive to 2025 earnings per ADS upon closing, facilitated by (i) the execution of the repurchase of ADSs concurrently with the pricing of the Notes Offering with an aggregate value of approximately US$230 million from certain purchasers of the Notes in off-market privately negotiated transactions effected through one of the initial purchasers or its affiliates, as the Company’s agent, and (ii) the cash-par conversion settlement mechanism of the Notes.

The Notes will be general unsecured obligations of the Company and bear interest at a rate of 0.50% per year, payable semiannually in arrears on April 1 and October 1 of each year, beginning on October 1, 2025. The Notes will mature on April 1, 2030 unless repurchased, redeemed, or converted in accordance with their terms prior to such date.

The initial conversion rate of the Notes is 16.7475 ADSs, per US$1,000 principal amount of the Notes, which is equivalent to an initial conversion price of approximately US$59.71 per ADS.

The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the class A ordinary shares represented thereby or deliverable upon conversion of the Notes in lieu thereof have not been registered under the Securities Act, or any securities laws of any other places. They may not be offered or sold within the United States or to U.S. persons, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act.

This press release shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, nor shall there be a sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.

About Qifu Technology

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

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

Safe Harbor Statement

Any forward-looking statements contained in this press release are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Qifu Technology may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, which factors include but not limited to the following: the Company’s growth strategies, the Company’s cooperation with 360 Group, changes in laws, rules and regulatory environments, the recognition of the Company’s brand, market acceptance of the Company’s products and services, trends and developments in the Credit-Tech industry, governmental policies relating to the Credit-Tech industry, general economic conditions in China and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks and uncertainties is included in Qifu Technology’s filings with the SEC and the announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Qifu Technology does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For further information, please contact:

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

The MIL Network –

March 28, 2025
MIL-OSI Submissions: US accounted for 90% of global bank fines imposed in 2024 – Finbold

Source: Finbold

Finbold’s 2024 Bank Fines Report found that 57 fines larger than $500,000 were issued to banks worldwide in 2024 due to a wide range of violations for a total penalty sum of $4.5 billion. (ref. https://finbold.com/report/bank-fines-2024 )

According to Finbold research, anti-money laundering (AML) breaches were the most common violation, and Toronto-Dominion Bank (TD Bank) was forced to pay $3.09 billion over related failures.

Furthermore, TD Bank’s fine accounted for 68.67% of the amount levied in 2024, while the US regulators collected $4.08 billion—slightly more than 90% of the cumulative global amount.

UK and Sweden lead Europe trail behind the US

British and Swedish regulators were responsible for the largest fines outside the US. In the UK, HSBC Bank was penalized with $74.12 million for failing to implement depositor protection, while in Sweden, Klarna Bank AB was compelled to pay $46 million over AML issues.

Finland, whose fines totaled $35 million, found itself in the fourth stop. The country’s enforcement is also notable for involving Nordea Bank’s failures to prevent money laundering and other criminal activities, as revealed by the 2016 Panama Papers.

China imposed only $31 million in bank fines in 2024

Elsewhere, China may be the biggest surprise of the report. Despite boasting the world’s second-biggest economy by nominal gross domestic product (GDP), it was only fourth in the total number of cases, at three, and fifth in the total penalty amount, at $31.22 million.

As Andreja Stojanovic, a co-author of the research, pointed out:

“In the US, the Federal Deposit Insurance Corporation (FDIC) insures just over 4,000 such corporations, aligning the American case proportion with the dominance of the country’s banking sector. Despite imposing substantially lower and fewer fines, China is also cited as having more than 4,000 banking institutions.”

Lastly, the figure for China does not change much for those who prioritize the ‘one country’ over the ‘two systems,’ as there was only one case in Hong Kong, which resulted in a relatively small fine of $510,000.

Read the full story with statistics here: https://finbold.com/us-accounted-for-90-of-global-bank-fines-imposed-in-2024-finbold-report/

MIL OSI – Submitted News –

March 28, 2025
MIL-OSI Europe: MOTION FOR A RESOLUTION on energy-intensive industries – B10-0209/2025

Source: European Parliament

Giorgio Gori, Wouter Beke, Brigitte van den Berg, Benedetta Scuderi
on behalf of the Committee on Industry, Research and Energy

B10‑0209/2025

European Parliament resolution on energy-intensive industries

(2025/2536(RSP))

The European Parliament,

– having regard to the report of September 2024 by Mario Draghi entitled ‘On the future of European competitiveness’,

– having regard to the report of April 2024 by Enrico Letta entitled ‘Much more than a market’,

– having regard to the Commission communication of 26 February 2025 entitled ‘The Clean Industrial Deal: A joint roadmap for competitiveness and decarbonisation’ (COM(2025)0085),

– having regard to the Commission communication of 26 February 2025 entitled ‘Action Plan for Affordable Energy’ (COM(2025)0079),

– having regard to Rule 136(2) of its Rules of Procedure,

– having regard to the motion for a resolution of the Committee on Industry, Research and Energy,

A. whereas energy-intensive industries (EIIs) account for a significant share of the EU’s economy and play a key role in job creation, especially in areas and regions where they are concentrated; whereas EIIs are crucial for the EU’s strategic autonomy and competitiveness, as well as for decarbonisation, taking into account their energy footprint;

B. whereas the transition to a decarbonised economy and a clean energy system must lead to reducing energy prices and must take into account all available technologies that contribute to reaching the EU’s net zero goal for 2050 in the most cost-efficient way, avoiding lock-in effects and taking into account the different energy mix across Member States, including with regard to renewables and nuclear;

C. whereas electrification is at the centre of the decarbonisation of EIIs; whereas EIIs include sectors that use fossil resources to meet temperature, pressure or reaction requirements, such as chemicals, steel, paper, plastics, mining, refineries, cement, lime, non-ferrous metals, glass, ceramics and fertilisers, for which greenhouse gas emissions are hard to reduce because they are intrinsic to the process or because of high capital or operating expenditure costs or low technological maturity;

D. whereas the energy price gap between the EU and the US and China undermines the competitiveness of the EU’s industries; whereas elevated and volatile fossil fuel prices heavily affect electricity prices and the affordable cost of renewable energy sources is not transferred to energy bills;

E. whereas an insufficiently integrated energy union poses further challenges to EIIs, in particular in relation to the lack of cross-border interconnections and the limited availability of clean energy, owing to lengthy permitting procedures or high capital or operating expenditures, as well as grid congestion;

F. whereas the emissions trading system (ETS) provided long-term investment signals and helped bring down the emissions of ETS sectors by 47 %; whereas the energy market has profoundly changed since the introduction of the ETS, especially after Russia’s invasion of Ukraine and the shift from pipeline gas to liquid natural gas (LNG); whereas a lack of carbon market transparency risks hampering EIIs’ competitiveness; whereas ETS revenues are used unevenly across Member States, failing to adequately support EIIs’ decarbonisation;

G. whereas unnecessary regulatory burdens and lengthy permitting procedures undermine the business case for investing in decarbonisation in Europe; whereas the concept of overriding public interest is provided for in EU legislation; whereas complex and fragmented EU funding impedes timely investment in net-zero technologies and digitalisation, in particular for small and medium-sized enterprises (SMEs);

H. whereas the lack of necessary private investment risks hindering EIIs’ decarbonisation; whereas relying excessively on State aid can have the unwanted consequences of exacerbating disparities and distorting competition across the EU;

I. whereas the EU’s dependencies and limited access, both in quantity and quality, to primary and secondary raw materials pose significant challenges to EIIs; whereas circularity and efficiency can help reduce the annual investment needs in industry and in energy supply; whereas currently, ferrous metals exported to non-EU countries account for more than half of all EU waste exports, raising concerns about their sound treatment;

J. whereas unfair competition from non-EU countries, including subsidised overcapacity, poses a great challenge to EU companies; whereas many regions around the world do not currently have ambitious decarbonisation targets, thus increasing the risk of carbon leakage;

K. whereas a profound transformation of EIIs cannot succeed without the involvement of local and regional communities, workers and social partners, which are heavily affected by the transition;

1. Reiterates its commitment to the EU’s decarbonisation objectives and to stable and predictable climate and industrial policies;

2. Calls on the Member States to accelerate permitting and licensing processes for clean energy projects, ensuring administrative capacity, and to facilitate grid connections to enable clean, on-site energy generation, especially in remote areas; stresses that the growth of renewables and electrification will require massive investment in grids and in flexibility, storage and distribution networks; calls on the Commission to develop, beyond the concept of overriding public interest, solutions for speeding up decarbonisation projects;

3. Believes that further action is needed to implement the electricity market design (EMD) rules, especially to promote power purchase agreements (PPAs) and two-way contracts for difference (CfDs) to reduce volatility and energy costs for EIIs; calls on the Commission to propose urgent measures to address current barriers to the signing of long-term agreements, especially for SMEs, using risk reduction instruments and guarantees, including public guarantee such as by the European Investment Bank (EIB); suggests that additional ways to decouple fossil fuel prices from electricity prices be explored, in the framework of the EMD, including with the aim of boosting long-term contracts in line with the affordable energy action plan, and by advancing the analysis of short-term markets to 2025;

4. Calls on the Commission to assess the possibility of scaling up best practice for EIIs from Member States, such as Italy’s energy release; calls on the Commission to develop recommendations for reducing the exposure of consumers, and especially EIIs, to rising energy costs, such as by reducing taxes and levies and harmonising network charges, while ensuring public investment in grids;

5. Calls for the enhancement of energy system integration, in particular in relation to cross-border interconnections, to ensure clean and resilient energy supply; asks for increased investment in flexibility, such as storage, including pumped storage hydropower and heat and waste heat storage, and demand response, to optimise grid stability; recalls the importance of energy efficiency in bringing costs down;

6. Underlines the need to phase out natural gas as soon as possible; stresses that some sectors cannot rely substantially on electrification in the short to medium term; calls on the Member States – over the same time span and for these limited sectors – to develop measures to address gas price spikes in duly justified cases; calls on the Commission to develop tools to ensure gas supply at a mitigated cost, by enabling demand aggregation, building on AggregateEU, and joint gas purchasing, while keeping decarbonisation objectives; highlights the importance of encouraging stable contracts with gas suppliers, diversifying supply routes and improving market transparency and stability, in line with current legislation; calls for an impact assessment in the upcoming ETS review to analyse the relationship between the gas market and CO2 prices and the role of the market stability reserve and its parameters;

7. Calls on the Commission to support EIIs in adopting clean and net-zero technologies, including hydrogen, and energy-efficient production methods by strengthening funding mechanisms and ensuring that ETS revenue is used effectively by Member States; calls for EU-level support to be complemented by State aid that allows for targeted support to EIIs, while preserving a level playing field within the single market;

8. Calls for InvestEU to be topped up before the next multiannual financial framework (MFF) and for leftover Resilience and Recovery Facility loans to support investment in EII decarbonisation; notes that the Strategic Technologies for Europe Platform already allows for flexibility within current programmes but that this is insufficient; insists that the upcoming MFF increase funding to support EIIs, building on the Innovation Fund and the Connecting Europe Facility – Energy or through the competitiveness fund; stresses that the European Hydrogen Bank and the carbon contracts for difference programme need to be scaled up; calls on the Commission to build on the Net-Zero Industry Act [1] in the upcoming decarbonisation accelerator act, to streamline the processes for granting permits and strategic project status;

9. Stresses the need to simplify bureaucratic procedures to enhance the attractiveness of private investment and support EIIs’ transition; believes that both InvestEU and the EIB are pivotal in catalysing private financing, especially through de-risking measures;

10. Emphasises the need to secure access to critical raw materials; stresses that the upcoming circular economy act should improve resource efficiency, including through better waste management of products containing critical raw materials, as well as fostering the demand and availability of secondary raw materials; stresses the need to define those secondary raw materials that are strategic and that should be subject to export monitoring, such as steel and metal scrap, and to tackle any imbalance in their supply and demand, including by exploring export restrictions; insists on the effective enforcement of the Waste Shipment Regulation [2];

11. Calls on the Commission to make full and efficient use of trade defence instruments; calls on the Commission to find a permanent solution to address unfair competition and structural overcapacity, before the expiry of current steel safeguard measures in 2026; calls on the Commission to engage with the US in relation to the announced tariffs on EU imports and avoid any harmful escalation;

12. Stresses that an effective implementation of the carbon border adjustment mechanism (CBAM) is essential to ensure a level playing field for EU industries and prevent carbon leakage, taking into account the impact of the parallel phasing out of the ETS free allowances and the risk of increased production costs; calls on the Commission to address the risks of resource shuffling and circumvention of the CBAM; asks, furthermore, for the implementation of an effective solution for EU exporters and an analysis of the possible extension to further sectors and downstream products, preceded by an impact assessment;

13. Calls for the creation of lead markets for clean and circular European products, via non-price criteria in EU public procurement, such as sustainability and resilience and a European preference for strategic sectors, as well as by creating voluntary labelling schemes and minimum EU content requirements in a cost-effective way;

14. Highlights the importance of a just transition to assist areas heavily reliant on EIIs, by keeping and creating quality jobs through upskilling and reskilling programmes for workers and through the effective use of regional support mechanisms, such as the Just Transition Fund and the Cohesion Fund; stresses that public support will be pivotal for the transition of EIIs and that this support should be tied to their commitment to safeguarding employment and working conditions and preventing off-shoring; welcomes the Union of Skills initiative to ensure a good match between skills and labour market demands;

15. Instructs its President to forward this resolution to the Commission, the Council and the governments and parliaments of the Member States.

MIL OSI Europe News –

March 28, 2025
MIL-OSI Security: Chinese National in Custody and Indicted After Allegedly Checking a Bag with a Firearm at Provo Airport

Source: Office of United States Attorneys

SALT LAKE CITY, Utah – A Chinese national was indicted by a federal grand jury in Salt Lake City for a firearm crime after she allegedly possessed an undeclared pistol in her checked luggage and ammunition in her carry-on bag at the Provo Airport.

Xuemei Zhao, 53, of People’s Republic of China, was initially charged by complaint on March 20, 2025.

According to court documents, on March 20, 2025, the Transportation Security Administration (TSA) discovered a black Rossi Braztech Int’l .357 revolver pistol in Zhao’s checked luggage, which was destined for Dallas – Ft. Worth via American Airlines flight 6189. Prior to delivering the suitcase to American Airlines, Zhao did not disclose the presence of the handgun to TSA or American Airlines. In addition to the firearm, Zhao had 9 rounds of .357 ammunition in her carry-on luggage. Zhao was taken into custody and U.S. Immigration and Customs Enforcement was contacted and confirmed Zhao arrived on a tourist visa, and had a currently pending asylum application, and was not a lawful permanent resident of the United States (she did not have a “green card”).

Zhao is charged with possession of a firearm by a restricted person (alien). Her initial appearance on the indictment is March 28, 2025, at 2:00 p.m. in courtroom 8.4 before a U.S. Magistrate Judge at the Orrin G. Hatch United States District Courthouse in downtown Salt Lake City.

Acting United States Attorney Felice John Viti for the District of Utah made the announcement.

The case is being investigated by the FBI Salt Lake City Field Office, Provo Resident Agency. Valuable assistance was provided by U.S. Immigration and Customs Enforcement (ICE), and the Transportation Security Administration (TSA).

Assistant United States Attorney Michael Kennedy of the District of Utah is prosecuting the case.

This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

MIL Security OSI –

March 28, 2025
MIL-OSI United Nations: Fifth Committee Fill Vacancies on Contribution, Audit Committees

Source: United Nations MIL OSI b

The Fifth Committee (Administrative and Budgetary) today sent the General Assembly the names of three candidates to fill two vacancies on the Committee on Contributions and one vacancy on the Independent Audit Advisory Committee.

Committee on Contributions

For the 18-member Committee on Contributions, which advises the Assembly on the distribution of the Organization’s expenses among Member States, delegates delivered the names of Benjamin Sieberns (Germany) and Fu Liheng (China) to fill vacancies created by the resignations of Michael Holtsch (Germany), effective 7 March, and Lin Shan (China), effective 18 March, respectively.

Both candidates would serve for the remaining period of each office, which expires 31 December 2026.

Independent Audit Advisory Committee

After a single round of balloting, the Independent Audit Advisory Committee recommended Eric Oduro Osae (Ghana) to fill the vacancy created by the passing of Imran Vanker (South Africa). Mr. Osae received 89 votes after 155 valid votes were cast. He will serve for the remaining period of that office, which expires on 31 December 2026. The Committee serves in an expert advisory capacity and helps the Assembly fulfil its oversight responsibilities.

Before closing the meeting, Fifth Committee Chair Egriselda Aracely González López (El Salvador) thanked delegates for their work over the past several weeks and urged them to return to the negotiating rooms with “a constructive spirit and an open spirit” to conclude the Committee’s work by the end of the first resumed session on Friday, 28 March.

MIL OSI United Nations News –

March 28, 2025
MIL-OSI Security: Killeen Man and Former Soldiers Sentenced for Multi-Million Dollar Fort Cavazos Equipment Theft Conspiracy

Source: Office of United States Attorneys

WACO, Texas – A Killeen man was sentenced in a federal court in Waco to 120 months in prison for buying and selling U.S. Army equipment that had been stolen by soldiers and former soldiers.

According to court documents, beginning in January 2017, Benjamin Alvarado Jr., 32, purchased thousands of military items, owned by the United States, from co-conspirators Darius Alston, Justin Wallas and Gabriel Taylor, and Kynyqus Bryant. The co-conspirators were U.S. Army soldiers stationed at Fort Cavazos and had participated in at least seven thefts of U.S. government property from Fort Cavazos. Collectively, they coordinated with Alvarado throughout the scheme through telecommunications and text messages.

Investigators with the Department of the Army Criminal Investigations Division (Army CID) traced several transactions through online sellers, such as eBay, to Alvarado, who, on Aug, 9, 2021, was discovered to be selling multiple M-50 gas masks similar to what had been reported stolen from Fort Cavazos. Alvarado was also selling filters for the masks, night vision device image intensifier tubes, Litefighter tents, and other miscellaneous sensitive property being transported in interstate and foreign commerce with a value of $5,000 or more.

Executed search warrants resulted in the recovery of more than 24,000 individual items stolen from the U.S. government, including, in addition to the items previously named, weapons parts, and Level III and Level IV body armor. The recovered properties were valued at approximately $2.75 million. Another search warrant led to the recovery of another $100,000 worth of military property at a Killeen storage building. The investigation also revealed that, on or about Jan. 5, 2021, Alvarado participated in the sale and transfer of a Joint Chemical Agent Detector M4A1 to a buyer in China through an intermediary in Delaware.

Alvarado stated he had purchased 90% of the 24,000 items seized from Bryant and Alston, who were assigned to the 553rd Combat Service Support Battalion. Taylor later confessed that he had participated as the lookout in a July 2021 robbery on Fort Cavazos, while other members of the conspiracy retrieved the items. Alston stated that he had conducted seven or eight theft operations with Bryant and the others, also as a lookout.

On Sept. 3, 2019, Alvarado transferred a cashier’s check for $52,890.55 to a title company for a residence in Killeen. On July 7, 2021, Alvarado transferred a personal check for $50,000 to a licensed automobile dealer for the purchase of a 2013 McLaren MP4. Following the April 2022 indictment, Alvarado forfeited the house and the car.

Alvarado pleaded guilty on Oct. 31, 2023 to one count of theft of government property conspiracy, one count of interstate transportation of stolen property, two counts of money laundering, and one count of smuggling goods from the United States. On March 26, Alvarado was sentenced to 120 months custody in federal prison.

Alston, Wallas and Taylor were also sentenced with Alvarado. Alston and Wallas were each sentenced to 30 months in federal prison. Taylor was sentenced to five years of probation. Bryant was sentenced to five years of probation and incurred a $2,000 fine on March 24.

In addition to their sentences, Alston, Wallas, Taylor, and Bryant were ordered to pay $618,750 in restitution. Alvarado was ordered to pay a restitution of $2,367,780.12.

“Alvarado and his co-conspirators engaged in a massive scheme to steal, store and sell millions of dollars’ worth of U.S. military equipment—not only taking advantage of our government but placing personal profit over national security and military readiness,” said Acting U.S. Attorney Margaret Leachman for the Western District of Texas. “Thank you to all of the federal law enforcement agencies involved for provided their individual specialized investigative skills to this case and reinforcing the fact that criminals who engage in this illicit reckless behavior will be caught and prosecuted.”

“We traced Alvarado’s sales and profits, which helped lead the team to seize assets like his real estate, his bank accounts and his McLaren. There are no sports cars and lavish lifestyles for Alvarado in prison,” said acting Special Agent in Charge Lucy Tan, of IRS Criminal Investigation’s Houston Field Office. “The moment he left a money trail, it sealed his fate. As the law enforcement division of the IRS, we follow the money to bring criminals to justice.”

“These sentencings are a result of a highly successful joint investigative effort by the Defense Criminal Investigative Service (DCIS) and our investigative partners” said Acting Special Agent in Charge Chad Gosch of the Department of Defense – Office of Inspector General, DCIS Southwest Field Office. “Ensuring the integrity of DoD supply chains, safeguarding taxpayer investments and, most importantly, protecting the warfighter are top priorities for DCIS.”

“This case highlights the partnership and commitment between Homeland Security Investigations and Army CID in securing the Homeland by targeting malicious actors stealing and exporting sensitive military equipment,” said ICE Homeland Security Investigations San Antonio Special Agent in Charge Craig Larrabee. “HSI, in collaboration with law enforcement partners, will continue to aggressively investigate and dismantle criminal networks that threaten the country’s national security.”

IRS-CI, DCIS, Army CID, the Department of State and HSI investigated the case with assistance from the Killeen Police Department.

Assistant U.S. Attorney Christopher Blanton prosecuted the case.

###

MIL Security OSI –

March 28, 2025
MIL-OSI Economics: New Development Bank and Companhia Paulista de Força e Luz sign Loan Agreement for Electricity Distribution Infrastructure Modernization Project

Source: New Development Bank

On March 21, 2025, New Development Bank (NDB) and Companhia Paulista de Força e Luz (CPFL Paulista) signed a Loan Agreement for the Electricity Distribution Infrastructure Modernization Project to be implemented in the state of São Paulo, Brazil.

The Loan Agreement amounting to RMB 1,425 million was signed at the NDB Headquarters in Shanghai, China by H.E. Mrs. Dilma Rousseff, NDB President, Mr. Vladimir Kazbekov, NDB Vice-President and Chief Operating Officer, Mr. Gustavo Estrella, Chief Executive Officer at CPFL Energia, Ms. Wang Kedi, Chief Financial and Investor Relations Officer at CPFL Energia, Mr. Tiago da Costa Parreira, Corporate Finance Director (CPFL Paulista) and Mr. Flávio de Paula, Capital Market Manager (CPFL Paulista).

The Project represents growing collaboration between NDB’s member countries, and this Loan demonstrates NDB’s commitment to expanding non-sovereign and local currency operations as well as increasing cross border use of its member countries’ currencies, as enshrined in NDB’s General Strategy.

The implementation of the Project will help CPFL Paulista to expand and upgrade the power distribution infrastructure, achieve efficiency gains and provide access to electricity to new households and thereby contribute to the goal of providing universal access to electricity in Brazil.

The Project will promote economic and social development through new grid connections. It is expected that the Project will provide electricity to over 370,000 future homes and business in the State of São Paulo in the coming years. Moreover, by reducing technical losses in the electricity distribution grid, the Project will improve energy efficiency and lead to economic savings for the end-users of energy.

The Project will contribute primarily towards UN Sustainable Development Goal (SDG) 7 – Ensure access to affordable, reliable, sustainable and modern energy for all.

“This project strengthens Brazil’s energy infrastructure and benefits millions of Brazilians. Supporting initiatives like this is at the core of our mission, as reliable energy is essential for both economic and social development. This investment will help meet the growing electricity demand driven by urban expansion, reduce grid losses, and contribute to lower emissions,” said Mrs. Dilma Rousseff, NDB President.

“CPFL has become the first Chinese-funded company in Brazil to receive credit support from the New Development Bank. This project will support the upgrading and transformation of the power distribution system in the concession area, serve the local economic and social development and improve people’s livelihood. Looking forward to the future, we hope to strengthen exchange and cooperation with the New Development Bank at all levels through multiple channels and in various forms, to continue to explore bank-enterprise cooperation opportunities,” said Mr. Yu Lei, President of State Grid International Development Limited (SGID).

“This financing marks CPFL’s first RMB transaction. This relationship with the Bank has been developed over time, with the aim of diversifying funding sources and strengthening the company’s presence in the global market. This is expected to be the first of many transactions, considering that the CPFL Group has a robust investment plan for the next five years, estimated at approximately BRL 30 billion,” said Mr. Gustavo Estrella, Chief Executive Officer at CPFL Energia.

Background information

New Development Bank

NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries, complementing the existing efforts of multilateral and regional financial institutions for global growth and development.

For more information on NDB, please visit www.ndb.int

Companhia Paulista de Força e Luz

For more information on Companhia Paulista de Força e Luz, please visit www.grupocpfl.com.br/unidades-de-negocios/cpfl-paulista

MIL OSI Economics –

March 28, 2025
MIL-OSI USA: Senator Murray Statement on Trump’s Sweeping New Illegal Cuts to Critical National Security Initiatives
US Senate News:
Source: United States Senator for Washington State Patty Murray

Trump seeks to gut funding to: combat global narcotics trade, support allies’ defenses, strengthen American competitiveness, and more

Illegal move threatens billions of dollars more for Americans’ housing, NASA, and other critical programs

Washington, D.C. — Today, Senator Patty Murray (D-WA), Senate Appropriations Committee Vice Chair, issued the following statement on illegal cuts President Trump sought to make on Monday to critical investments in America’s national security and competitiveness, which were enacted into law under the yearlong continuing resolution (CR) he signed earlier this month.

“In the latest installment of the president’s campaign to defy our laws and jeopardize our national security in the process, President Trump is attempting to choke off critical investments to combat the flow of fentanyl globally, slash support for the defense of American allies, weaken the competitiveness of U.S. businesses, set back next-generation weather forecasting, and much more. Trump is even slashing investments to help communities that are too often left behind finally get ahead–and his illegal move threatens billions of dollars more in funding to help people keep a roof over their head.

“Cutting off these resources will devastate ongoing national security initiatives that advance our interests across the globe, and I trust Presidents Xi and Putin thank Trump for this latest gift he has delivered them.

“What President Trump has just done is wrongheaded, counterproductive, and unlawful, and I hope my colleagues in Congress join me in working to protect these investments and ensure the law is followed.”

In the fiscal year 2024 appropriations bills, Congress included $12.5 billion in emergency funding for key priorities as allowed by the 2023 Fiscal Responsibility Act (FRA) agreement. Congress routinely includes funds designated as emergency, which are not subject to statutory spending caps, in its spending laws—in both annual funding bills and legislation like the disaster relief package passed in December. House Republicans’ yearlong fiscal year 2025 continuing resolution, which was approved by nearly every Republican Member of Congress and signed into law earlier this month, continued the vast majority of emergency funding included in the fiscal year 2024 appropriations laws.

When statutory caps on discretionary funding are in effect—as they are now under the FRA—Congress has been careful to ensure emergency funding it provides is also designated by the president as emergency funding in order to prevent a sequester of discretionary funding under the Balanced Budget and Emergency Deficit Control Act of 1985, which would result in across-the-board cuts. This is a decades-old practice that has been followed without incident under Democratic and Republican presidents alike. But the law is very clear: the President must certify all or none of the emergency funds provided by Congress. Presidents cannot pick and choose which funds to designate as emergency and keep flowing, as President Trump has now unlawfully done by certifying some but not all of the emergency funding provided for fiscal year 2025. House Republicans’ fiscal year 2025 CR cites fiscal year 2024 appropriations laws that state emergency funding shall be made available “only if the President subsequently so designates all such amounts and transmits such designations to the Congress.” Section 1110 of the fiscal year 2025 CR continues these requirements, which the President is now flouting–effectively seeking to exercise a line-item veto of emergency funding that he simply does not have.

President Trump’s illegal cuts will seriously harm ongoing national security initiatives that keep our country safe and competitive.

In refusing to designate $2.934 billion of the $12.4 billion in emergency funding provided under House Republicans’ yearlong CR, President Trump is attempting to choke off critical investments that keep America and our allies safe. This includes:
- $115 million cut to the State Department’s work combatting international fentanyl and narcotics trade, human trafficking, and other crimes across the globe that impact American communities and other U.S. national security interests.
- $275 million cut to foreign military financing that enables eligible partner nations to purchase U.S.-made weapons, promoting U.S. interests and security cooperation.
- $1.5 billion cut (-17%) to lifesaving U.S. humanitarian assistance.
- $310 million cut (-40%) to U.S. assistance in Europe and Eurasia, which is critical to counter-Russia efforts.
- $300 million cut to economic growth programs that Congress established to increase investment in secure supply chains, digital connectivity and security, and other critical sectors, including to enhance the competitiveness of U.S. businesses.
- $50 million cut to the International Trade Administration’s work to strengthen the competitiveness of U.S. industry abroad and ensure fair trade and compliance with trade laws and agreements. These resources play a critical role in U.S. efforts to counter the People’s Republic of China, Russia, and other competitors and adversaries.
- $20 million cut (-10.5%) to the Bureau of Industry and Security’s vital work advancing U.S. national security through vigilant export controls and the promotion of continued U.S. leadership in technology. These resources play a critical role in U.S. efforts to counter the People’s Republic of China, Russia, and other competitors and adversaries.
- $30 million cut (-7.5%) to the Economic Development Administration’s investments in economically distressed communities across the U.S. and its ongoing work to build durable regional economies across the country.
- $100 million cut to the National Oceanic and Atmospheric Administration’s (NOAA) procurement, acquisition, and construction budget, which—among other things—funds the procurement of next-generation weather radars and satellites that play an indispensable role in providing the American people with accurate weather forecasting.
- $234 million cut (-100%) to the National Science Foundation’s equipment and facilities construction budget, which funds essential upgrades to and construction of new, cutting-edge scientific facilities. This funding supports the new Leadership-Class Computing Facility based in Texas to facilitate and support domestic AI research, the Antarctic Infrastructure Recapitalization, and other projects advancing American innovation, discovery, and security.
President Trump’s illegal attempt to cherry-pick what emergency funding moves–when the law clearly states that the President must certify all or none of the emergency funding provided by Congress–threatens the availability of the entire $12.4 billion in emergency funding provided for fiscal year 2025, which includes more than $9 billion in funding for other critical programs. None of the emergency funding is available to be spent under the law until the President designates all of it. This includes funding for:
- Critical rental assistance that serves more than 7 million people, ensuring they keep a roof over their heads at a time when homelessness and housing unaffordability have hit an all-time high;
- Salaries of Drug Enforcement Administration agents who are combatting the fentanyl crisis;
- Ongoing NASA missions, including the Artemis mission to return Americans to the Moon;
- More.
MIL OSI USA News –
March 28, 2025
MIL-OSI Africa: Africa Finance Corporation (AFC) Takes Center Stage with Six Prestigious Awards at the Global Banking & Markets Africa Awards 2025
Source: Africa Press Organisation – English (2) – Report:

CAPE TOWN, South Africa, March 27, 2025/APO Group/ —

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, has been recognized for its outstanding contributions to Africa’s financial and capital markets with six prestigious awards at the Global Banking & Markets Africa Awards 2025, presented during the Bonds, Loans & ESG Capital Markets Conference in Cape Town. These accolades underscore AFC’s pivotal role in landmark transactions that drive sustainable development and economic growth across the region.

Award-Winning Transactions:
1. Quasi-Sovereign/GRE Treasury & Funding Team of the Year
AFC’s Treasury and Funding team was recognized for its expertise and innovation in structuring financing solutions that attract global capital to African infrastructure projects. Notable achievements include the closure of a US$400 million Shariah-compliant Commodity Murabaha facility and a groundbreaking US$1.16 billion syndicated loan, which broadened AFC’s global investor base. Additionally, AFC earned top-tier credit ratings from S&P Global (China) Ratings and China Chengxin International Credit Rating Co. Ltd (CCXI).
1. Syndicated Loan Deal of the Year: Bank of Industry EUR 1.87bn Syndicated Loan
As Global Coordinator, Lead Co-Arranger, Underwriter, Bookrunner, and Guarantor, AFC led the record-breaking €1.87 billion syndicated loan for Bank of Industry (BOI), Nigeria’s largest development finance institution. This historic transaction, BOI’s largest capital raise to date, facilitates financing for trade-related projects and affirms AFC’s capacity to navigate complex global markets. This landmark deal has already garnered widespread industry recognition, earning AFC three additional awards earlier this month: Guarantor of the Year, Africa and Market Innovation Award, Africa at the IJGlobal Awards, as well as African Deal of the Year at the Global Capital Syndicated Loan Awards.

3. West Africa Deal of the Year: Federal Government of Nigeria USD 917mm Bond

AFC acted as Global Coordinator for the inaugural domestic dollar bond issuance by the Federal Government of Nigeria (FGN), successfully raising US$917 million, with 180% oversubscription. The bond, which has a five-year tenor and 9.75% coupon, was successfully listed on the Nigerian Exchange (NGX) and FMDQ Securities Exchange, attracted a diverse investor base, including local and diaspora Nigerians and institutional investors.
1. Securitization Deal of the Year: BUA Industries US$200mm Securitization
AFC played a key role in structuring a US$200 million corporate finance facility for BUA Industries Limited. The financing, provided by Afreximbank, supports BUA’s expansion across industries including sugar, cement, flour and oil processing, and real estate development. AFC’s second successful advisory mandate for BUA Group, the facility, demonstrates AFC’s commitment to unlocking capital for African businesses and fostering sustainable growth.
1. Financial Institutions Bond Deal of the Year: Ecobank Transnational USD 400mm Senior Bond
As Joint Lead Manager in the successful pricing of Ecobank Transnational’s US$400 million 10.125% bond, AFC highlighted its commitment to supporting financial institutions raising capital to drive economic progress. The five-year RegS/144A bond, maturing in 2029, marks the first public Sub-Saharan African Eurobond issued by an African bank since 2021.
1. Quasi-Sovereign/GRE Bond Deal of the Year: US$500mm Reg S / 144A Senior Unsecured Bond
AFC returned to the global debt capital markets with the issuance of a US$500 million 144A/Reg S Eurobond, which saw an oversubscription rate more than 2 ½ times the book size. The five-year Note, with a 5.55% coupon, achieved a record-tight T-spread for AFC, reflecting robust investor confidence in AFC’s creditworthiness.

AFC’s Commitment to Africa’s Economic Growth

“We are grateful to judges for their recognition through these numerous awards of AFC’s relentless pursuit of innovative financing solutions that drive sustainable development across Africa,” said Samaila Zubairu, President and CEO of AFC. “We are proud to be at the forefront of mobilizing capital for transformational infrastructure projects across the continent and in building a more resilient, self-sustaining Africa. I want to extend my gratitude to the judges for this recognition and to our exceptional AFC team for their incredible talent and dedication to driving Africa’s economic transformation.”

Banji Fehintola, Executive Board Member & Head of Financial Services at AFC, added: “These awards highlight AFC’s role as a trusted partner in African and global capital markets, and reflect our collective efforts in shaping Africa’s financial landscape and driving growth in the region. My sincere thanks to the judges and to AFC’s Treasury, Funding and Capital Markets teams for their commitment, dedication and hard work.”

As AFC continues expanding its footprint in global markets, the Corporation remains dedicated to delivering high-impact infrastructure projects that foster industrialization, intra-African trade, and economic diversification.

MIL OSI Africa –
March 28, 2025
MIL-OSI USA: Kennedy welcomes debarment of doctor who facilitated gain-of-function research in Wuhan: “We now have justice”
US Senate News:
Source: United States Senator John Kennedy (Louisiana)

Watch Kennedy’s comments here.

WASHINGTON – Sen. John Kennedy (R-La.) commended the Department of Health and Human Services (HHS) for debarring and defunding EcoHealth Alliance and its president, Dr. Peter Daszak, for their role in facilitating gain-of-function research in Wuhan, China, which likely caused the coronavirus pandemic.

Key excerpts of the speech are below:

“Many commentators and many news accounts say that what Dr. Daszak—with the money from American taxpayers that he had gotten from Dr. Fauci and Dr. Collins—what they were doing was conducting gain-of-function research. . . . Gain-of-function research just means taking, in this context, an animal virus, a bat virus, altering it genetically so it would jump into a human—pretty dangerous stuff.

“Now Dr. Fauci has said that didn’t happen, Dr. Collins says that didn’t happen, and Dr. Daszak says that didn’t happen, but everybody else says it did. The FBI says it did. The CIA says it did. The top spy agency in Germany says it did. The Department of Energy says it did.

“So what happened? What happened? Well, we do know that the first two people that we know of in the world who got the coronavirus—the first two humans—were not people in the city of Wuhan; they were workers in the Wuhan lab. . . . We also know that when the virus became really contagious, other than these two people who were working in the Wuhan lab, it became contagious in Wuhan, China, a few miles away from the Wuhan lab—pretty curious.

“We also know that when word first broke of the coronavirus, Dr. Fauci learned about it. Do you know one of the first persons he called was Dr. Peter Daszak and said: What is going on?

“We also know that Dr. Daszak was trying to convince the American people and the people of the world that the virus started naturally—that it didn’t start from his gain-of-function research. We know that he rounded up a bunch of epidemiologists to write a fake article and start publishing it and others in a lot of professional scientific magazines to try to convince the world that the bat virus jumped to human beings naturally. We know that. That has all come out.”

. . .

“It took a while, and some will call this only partial justice, but we now have justice—at least for 5 years. I hope forever Dr. Peter Daszak and any company with which he is affiliated will no longer receive taxpayer dollars from the National Institutes of Health because he was doing—according to many people smarter than me and many news reports—he was funding gain research in Wuhan. . . . Pretty scary stuff, and we know how it all turned out.

Background:
- On Jan. 17, 2025, HHS announced that it would be defunding and debarring EcoHealth Alliance Inc. and Dr. Daszak for at least five years due to their role in facilitating irresponsible gain-of-function research at the Wuhan Institute of Virology in China.
- HHS determined that Dr. Daszak and EcoHealth Alliance violated the terms of their gain-of-function grant to conduct experiments that modified novel bat coronaviruses to make them 10,000 times more infectious in mice.
- Dr. Daszak, former National Institutes of Health Director Dr. Francis Collins and former National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci coordinated with other public health officials to propel the theory that COVID-19 originated in nature.
Watch Kennedy’s full speech here.
MIL OSI USA News –
March 28, 2025
MIL-OSI Global: With 23andMe filing for bankruptcy, what happens to consumers’ genetic data?

Source: The Conversation – Canada – By Julia Creet, Professor of English, York University, Canada

23andMe has filed for bankruptcy, raising questions about future ownership of the genetic data of its 15 million customers. (Shutterstock)

The announcement that 23andMe is filing for bankruptcy and has put its genetic genealogy database up for sale has sent its customers into a bit of a privacy tizzy. On March 21, California Attorney General Bob Bonta issued a consumer alert with detailed instructions about how to delete one’s data.

23andMe and its databases are located in California; regardless of where customers live, privacy is then governed by California law and some weak U.S. federal laws. Canadian privacy laws have no sway in this case.

CBC’s The National provides information to customers looking to delete their genetic data from the 23andMe databases.

Rise of consumer genetic testing

It’s worth backing up a bit to see how 23andMe built its brand, what makes the database valuable and who might be in the market to buy the database if Anne Wojcicki, its founder, is unsuccessful in her bid to buy back the company herself.

I have been studying the development of the industry of family history for the last 20 years. Genetic genealogy rose to prominence in the early 2000s, with the development of the science and early databases by committed genealogists and the market demand for locating ancestors.

Read more:
The mythical quest for our ancestors is big business

23andMe’s innovation was to use this burgeoning lust for ancestors as a way to build a new kind of direct-to-consumer database, one that looked at inherited markers for diseases afforded by the potent combination of genetic and genealogical information.

They weren’t the first to hit on this idea. deCODE Genetics in Iceland had already built a national database of braided genealogical and genetic information for the same purpose. Within 10 years, it too went bankrupt and sold its database.

Ahead of government

23andMe was the first to market the idea in North America when Wojcicki founded the company in 2006.

Wojcicki claimed a high mission: to liberate health information from the hands of the medical industry and put it directly into the hands of consumers. Her business model made it clear that the direct-to-consumer genetics industry was always in the business of doing an end run around government and university databases that were governed by much stricter privacy laws.

23andMe ran into trouble with the FDA in 2013 for providing medical information without any medical supervision, a wrinkle that took two years for the company to iron out. But the more lucrative end of the business was always the sale of the accumulated data to the pharmaceutical industry.

23andMe pitched its research arm as the greater good, and 80 per cent of its consumers opted in to share their information for research purposes. The database has always been monetized for secondary uses. In its profile of 23andMe in 2017, Nature quoted cardiologist Euan Ashley at Stanford University, California: “They have quietly become the largest genetic study the world has ever known.”

A rapid unravelling

Five years ago, the company and the genetic genealogy industry as a whole started to unravel almost as quickly and precipitously as it had risen. Sales of direct-to-consumer genetic genealogy kits plummeted, given a combination of privacy concerns and market saturation.

The advent of law enforcement incursions into genetic genealogy databases gave consumers a fright, and woke them up to the possible unanticipated third-party uses of commercial databases.

Almost a decade later, governments are still trying to figure out how to set up guardrails on the use of genealogy databases for law enforcement, a practice that has become widespread across the U.S. and Canada.

Currently, the Information and Privacy Office of Ontario is actively working to develop regulations that are acceptable to all stakeholders since, once again, the greater good argument of catching cold-case killers holds considerable sway over the right to privacy of consumers.

Nonetheless, the issue of third-party uses has had a marked effect on the popularity of what seemed like a benign pastime, the search for ever-more-distant relations.

Industry expansion

Over the years, 23andMe expanded by buying health services and pharmaceutical holding companies. But in 2023, a massive data breach exposed the vulnerabilities of the company, particularly its genealogical information.

Read more:
23andMe’s struggles are a sign that direct-to-consumer DNA testing needs stronger oversight

In addition to the 1.5 million users whose profiles were breached, hackers accessed the personal information of about 5.5 million people who opted in to 23andMe’s DNA Relatives feature.

Stolen data included customers’ names, birth years, relationship labels, percentage of DNA shared with relatives, ancestry reports and self-reported locations.

Fully a third of 23andMe’s users’ genealogical information had been scraped by the hackers. And here we see the real vulnerability in the entire industry: Anyone who has submitted a DNA sample and built family connections has exposed everyone in their family line.

This seems to be a classic case of closing the barn door after the horses have already bolted.

Like 23andMe, deCODE was a high flier in the genetics space having built a genealogical database that included almost all Icelanders, who invested heavily in the company. The company went bankrupt during the financial crisis of 2008, and it sold its database to American pharmaceutical company Amgen. Amgen in turn sold part of it to a Chinese company.

Corporate dealings

So who are the likely buyers for 23andMe?

Wojcicki herself, if she can somehow raise the capital, which seems unlikely. Any big pharmaceutical company, including international buyers (in 2018, 23andMe signed a US$300 million deal with GlaxoSmithKline). Chinese biotechnology company BGI might well bid on the company, as China is seemingly on a mission to collect DNA from around the globe.

Other potential buyers include: Google, who were early investors and thus already part owners; Ancestry.com, which, with its own genetic genealogy testing arm, would make it one of the of the largest privately held genetic genealogy databases in the world; and an outlier, Dutch life sciences firm Qiagen.

Qiagen acquired California-based forensic genomics company Verogen in 2023. Verogen had previously acquired the geneaology database GEDmatch (one of the earliest grassroots ancestor DNA matching sites) for the purposes of creating a one-stop forensics genealogy shop for law enforcement.

Changing privacy

Each time a database is sold, privacy provisions are subject to change. Even though Wojcicki is promising to protect the privacy of costumers currently in the database, she might not have much control in the long run.

So what should 23andMe’s customers do? Should they delete what data they can? Absolutely. Will it make much difference in the end? Probably not.

What is now manifestly apparent is that the industry of direct-to-consumer genetics has far outpaced the ability of governments to regulate the information, so consumers are suddenly nervous.

We should have paid attention at the very beginning of this dubious exercise in the privatization of personal data. Now we have to live with all that relatedness as a valuable commodity over which we have little say.

Julia Creet receives funding from Social Sciences and Humanities Council of Canada and previously from the Office of the Privacy Commissioner of Canada.

– ref. With 23andMe filing for bankruptcy, what happens to consumers’ genetic data? – https://theconversation.com/with-23andme-filing-for-bankruptcy-what-happens-to-consumers-genetic-data-253071

MIL OSI – Global Reports –

March 28, 2025
MIL-OSI China: 2025 Zhongguancun Forum Annual Conference opens in Beijing

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

2025 Zhongguancun Forum Annual Conference opens in Beijing

Updated: March 27, 2025 21:34 Xinhua

This photo taken on March 27, 2025 shows an exterior view of the Zhongguancun International Innovation Center, venue for the 2025 Zhongguancun Forum Annual Conference, in Beijing, capital of China. The opening ceremony of the event was held here on Thursday. Themed “New Quality Productive Forces and Global Technology Cooperation,” this year’s annual conference of the forum comprises five major sections, including meetings and technology trading. It provides new ideas and insights for global innovative development in large AI models, embodied intelligence, quantum technology, biomedicine, 6G, brain-computer interfaces, and other frontier areas in 128 events. [Photo/Xinhua]

Guests attend the opening ceremony of the 2025 Zhongguancun Forum Annual Conference in Beijing, capital of China, March 27, 2025. [Photo/Xinhua]

This photo taken on March 27, 2025 shows an exterior view of the Zhongguancun International Innovation Center, venue for the 2025 Zhongguancun Forum Annual Conference, in Beijing, capital of China. [Photo/Xinhua]

Guests attend the opening ceremony of the 2025 Zhongguancun Forum Annual Conference in Beijing, capital of China, March 27, 2025. [Photo/Xinhua]

A robot performance is staged during the opening ceremony of the 2025 Zhongguancun Forum Annual Conference in Beijing, capital of China, March 27, 2025. [Photo/Xinhua]

This photo taken on March 27, 2025 shows the release of scientific and technological achievements during the opening ceremony of the 2025 Zhongguancun Forum Annual Conference in Beijing, capital of China. [Photo/Xinhua]

This photo taken on March 27, 2025 shows an exterior view of the Zhongguancun International Innovation Center, venue for the 2025 Zhongguancun Forum Annual Conference, in Beijing, capital of China. [Photo/Xinhua]

This photo taken on March 27, 2025 shows a scene of the opening ceremony of the 2025 Zhongguancun Forum Annual Conference in Beijing, capital of China. [Photo/Xinhua]

MIL OSI China News –

March 28, 2025
MIL-OSI China: Chinese premier meets French FM

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

BEIJING, March 27 — Chinese Premier Li Qiang met with French Foreign Minister Jean-Noel Barrot on Thursday in Beijing.

In the current international situation, China and France — as independent, mature and responsible major countries — should strengthen communication and coordination to inject more stability and certainty into the common development of the two countries and the world, Li said.

He said China is willing to work with France to follow the strategic guidance of their two heads of state, maintain close high-level exchanges, expand mutually-beneficial cooperation, and strengthen multilateral coordination on issues including climate change response to bring more benefits to the two peoples and the world.

Li noted that as staunch defenders of free trade and multilateralism, China and France, with closely intertwined economic interests, should work together to resist protectionism and unilateralism, continue strengthening cooperation with an open attitude, and give full play to their complementary advantages to add impetus to the economic development of the two countries continuously.

China has always regarded France as an important cooperation partner and stands ready to work with the country. While strengthening long-standing cooperation on aviation, aerospace and nuclear energy, they should continuously tap into cooperation potential in emerging and future industries such as the digital economy, artificial intelligence and biotechnology to foster and strengthen new economic drivers, Li said.

China hopes that France will create a fair, equitable and predictable development environment for Chinese enterprises investing in the country, he added.

This year marks the 50th anniversary of the establishment of diplomatic ties between China and the EU. China is ready to use this as an opportunity to deepen bilateral relations, and address concerns through dialogue and consultation on the basis of mutual respect, equality and mutual benefits, Li said, expressing the hope that France will play a positive role in this regard.

Barrot said that in the face of increasing uncertainties in today’s world, France and China — as permanent members of the UN Security Council — should shoulder their important, joint responsibility of safeguarding multilateralism.

France attaches great importance to its relations with China and is willing to work with China to actively implement the important consensus reached by their two heads of state, expand mutually beneficial cooperation in such fields as trade, investment, science and technology, and to tackle climate change and other global challenges, Barrot said.

France always adheres to strategic independence, and opposes trade protectionism and trade wars. France supports the EU and China strengthening dialogue and cooperation in the economic and trade fields, addressing the concerns of both sides in a proper manner, and exploring more positive agendas, he said.

MIL OSI China News –

March 28, 2025
MIL-OSI Global: Ecological disruptions are a risk to national security

Source: The Conversation – USA – By Bradley J. Cardinale, Professor, Ecosystem Science and Management, Penn State

Illegal deforestation is one way terrorist groups fund their activities. Amaury Falt-Brown/AFP via Getty Images

When the natural environment is stretched beyond its ability to meet basic human needs for food, clean air, drinkable water and shelter, it is not just a humanitarian concern for the world community. Research shows that these crises are a matter of national security for the U.S. and other countries.

The Pentagon and the U.S. intelligence community have long paid close attention to the influence of climate change on national security. Although recent intelligence reports of the Trump administration have omitted any mention of climate change, prior intelligence reports have shown how climate change can generate flash points for global conflict, affect how troops and equipment work, and influence which defense locations are vulnerable.

The effects of ecological disruptions on national security get less attention. But they, too, can cause social and political instability, economic strife and strained international relations. Ecological disruptions occur when ecosystems that provide natural resources are compromised and can no longer meet basic human needs. Examples include overfishing, human disease and environmental crime.

Protecting access to fish

Some 3.2 billion people worldwide rely on fisheries as a major source of protein. Overexploitation of ocean fisheries is a common root of international conflict.

From the 1950s to the 1970s, intermittent conflict broke out between British and Icelandic fishermen over the Icelandic cod fisheries, which had been depleted by overfishing. The Icelandic government sought to ban British trawlers from a broader area around the country’s coast, but the British continued to fish. The result was standoffs between fishing boats and Icelandic gunboats, and even the intervention of the British Royal Navy.

These “Cod Wars” broke diplomatic relations between Iceland and the United Kingdom for a time. Iceland even threatened to withdraw from the North Atlantic Treaty Organization and close a U.S. military base in Iceland. The U.K. ultimately agreed to abide by a 200-mile territorial limit on fishing around Iceland. Decades later, in 2012, the British government issued an apology and offered £1,000 each in compensation to 2,500 British fishermen for the loss of jobs and livelihoods that resulted from abiding by the 200-mile limit.

More recently, China’s rampant overfishing of its own coastal waters has meant expanding fishing in the South China Sea and using fishing fleets to assert new territorial claims. Indonesia has responded by blowing up more than 40 Chinese vessels accused of fishing illegally in its waters and stealing more than US$4 billion per year in Indonesian profits.

The United States, Australia, New Zealand and Britain have stepped up naval patrols against illegal fishing in the waters of Pacific island nations. Conflicts have arisen with Chinese coast guard vessels that routinely escort fishing fleets entering other countries’ waters without permission.

China’s fishing fleets have also expanded their activities off the coasts of Africa and South America, depleting fish stocks and creating political instability in those regions, too. In 2024, the U.S. Coast Guard and Argentine navy began joint exercises to combat illegal Chinese fishing in the Atlantic Ocean.

Public health crises

The best-known examples of ecologically related public health crises that jeopardize national security involve what are called zoonotic diseases, which spread from animals to humans as a result of close contact between people and wildlife. More than 70% of the world’s emerging infectious diseases – uncommon or newly identified infectious diseases – stem from contact with wild animals.

The risks of animal-to-human disease transmission are especially high for those who handle or eat wild meat.

A recent example is the SARS-CoV-2 coronavirus responsible for the COVID-19 global pandemic. Epidemiological and genetic studies suggest that SARS-CoV-2 first spilled over to humans from wild animals sold in the Huanan live animal market in Wuhan, China. Although the specific animal that served as the original host is still under investigation, bats and other mammals are considered likely natural reservoirs of SARS-CoV-2 because they harbor other coronaviruses with closely related genomes.

Following the zoonotic spillover event, the pathogen spread rapidly across the globe, killing more than 7 million people and causing acute disruptions not only to global markets and supply chains but also to social cohesion and political stability. Countries with high COVID-19 mortality rates had elevated levels of civil disorder and fatalities caused by political violence as the trust of citizens in the ability of governments to protect them eroded.

Many other zoonotic diseases caused by human-wildlife contact, such as Zika, Ebola, SARS and West Nile virus, have similarly generated international political and economic crises that have activated security measures within the U.S. government.

Environmental crime

International Anti-Poaching Foundation rangers, seen here demonstrating a patrol in Zimbabwe, seek to protect natural resources from criminals.
Gianluigi Guercia/AFP via Getty Images

Illegal poaching and trade of wildlife and forest products is valued at $91 billion to $258 billion per year. That makes environmental crime one of the world’s largest crime sectors, comparable with drug trafficking, at $344 billion, and human trafficking, at $157 billion.

Exorbitant black market prices for rare wildlife specimens and body parts provide funding for terrorist groups, drug cartels and criminal organizations.

Illegal logging helps finance terrorist groups such as Al-Shabaab in Somalia, where trade in charcoal has become a critical revenue source. Money from illegally cut trees turned into charcoal and sold to markets in the Middle East has funded al-Shabab-linked suicide bombings in Mogadishu, the 2013 Westgate mall attack in Nairobi that killed 67 Kenyan and non-Kenyan nationals, and the 2015 massacre of 147 university students in Garissa, Kenya.

Those and other terrorist activities funded through environmental crime have contributed to the destabilization of countries throughout the Horn of Africa.

These examples make clear how ecological disruptions to nature increase national security risks.

National security is not just a matter of military strength. It also depends on the ability of a nation to maintain productive and stable ecosystems, resilient biological communities and sustainable access to natural resources. Sovereign nations already develop and protect physical infrastructure that is essential to security, such as roads, communication networks and power grids. The natural world plays an equally vital role in social and political stability and, we believe, deserves more attention in planning for national security.

Bradley J. Cardinale has received funding from the US National Science Foundation, US Department of Energy, US National Oceanic and Atmospheric Administration, and US Department of Agriculture.

Emmett Duffy has received funding from the US National Science Foundation, US Environmental Protection Agency, and the Lenfest Ocean Program.

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

– ref. Ecological disruptions are a risk to national security – https://theconversation.com/ecological-disruptions-are-a-risk-to-national-security-248754

MIL OSI – Global Reports –

March 28, 2025
MIL-OSI China: Chinese military stands ready to thwart any ‘Taiwan independence’ attempt: spokesperson

Source: China State Council Information Office 2

A mainland spokesperson on Thursday reaffirmed the Chinese military’s resolve and capability to thwart any separatist attempt for “Taiwan independence.”
Wu Qian, spokesperson for the Ministry of National Defense, made the remarks in response to recent separatist statements by Taiwan leader Lai Ching-te.
Wu noted that the recent drill of the Eastern Theater Command of the Chinese People’s Liberation Army (PLA) in areas around Taiwan was a legitimate and necessary measure, serving as both punishment and deterrence against “Taiwan independence” separatists and a stern warning to external interfering forces.
The PLA’s naval and air forces carried out combat-readiness patrols and joint exercises to test and enhance their operational capabilities, Wu said.
In response to Lai’s separatist rhetoric — claiming that the two sides of the Taiwan Strait are “not subordinate to each other” and referring to the mainland as a “foreign hostile force” — Wu cited a Chinese saying: “When the heavens are about to destroy someone, they first make them delusional.”
The PLA remains ready and able to fight and win at all times, and will take resolute measures to thwart any separatist attempts, the spokesperson said.
“Taiwan is a part of China. It has never been a nation; neither in the past, nor in the present, nor will it ever be in the future,” he added.

MIL OSI China News –

March 28, 2025
MIL-OSI China: Former Chinese national political advisor tried for bribery

Source: China State Council Information Office 2

Liu Yuejin, a member of the 13th National Committee of the Chinese People’s Political Consultative Conference, on Thursday stood trial at a court in east China’s Fujian Province, charged with accepting bribes.
Liu is accused of taking advantage of his various posts, including head of the Ministry of Public Security’s narcotics control bureau and deputy director of the China National Narcotic Control Commission, to seek benefits for others in matters such as business operations and financing between 1992 and 2020.
In return, he illegally accepted money and gifts worth over 121 million yuan (about 16.86 million U.S. dollars) in total, according to prosecutors.
During the trial, prosecutors, the defendant and his defense counsel cross-examined the evidence and gave their respective accounts of matters, according to a court statement.
Liu pleaded guilty and expressed remorse in his final statement.
A verdict will be announced in due course.

MIL OSI China News –

March 28, 2025
MIL-OSI China: China to advance follow-up procedures of WTO case after US accepts tariff consultations: commerce ministry

Source: China State Council Information Office

China will proceed with follow-up procedures of its World Trade Organization (WTO) case against the United States for imposing additional tariffs on Chinese goods after the United States agreed to consultations under the WTO dispute settlement mechanism, a Ministry of Commerce spokesperson said on Thursday.

The United States agreed to consultations on March 14, and China will advance subsequent procedures in accordance with WTO rules, spokesperson He Yadong told a regular press briefing.

When asked about U.S. Senator Steve Daines’ recent visit to China, He noted that economic and trade departments from both countries have maintained communication through various channels.

The spokesperson reiterated China’s firm opposition to U.S. unilateral imposition of additional tariffs and its stance against the politicization, weaponization, and instrumentalization of economic and trade issues.

China is willing to engage in candid dialogue with the United States based on mutual respect, equality and mutual benefit, the spokesperson said.

MIL OSI China News –

March 28, 2025
MIL-OSI China: National defense ministry refutes G7’s smear on China

Source: China State Council Information Office

A spokesperson for the Ministry of National Defense on Thursday refuted a statement by the G7, emphasizing China’s policy of no-first-use of nuclear weapons and its defensive nuclear strategy.

Spokesperson Wu Qian made the remarks at a press conference while responding to a query regarding the content of a joint statement of the recent G7 Foreign Ministers’ Meeting.

The statement, which is strongly condemned and resolutely opposed by China, ignores facts and is a vicious smear on China and a brutal interference in China’s internal affairs, according to Wu.

“China has been maintaining its nuclear arsenal at the minimum level required for national security. The G7 should reflect on its own actions and has no qualification to criticize China,” he said.

Regarding the East and South China Seas, China is engaging in peaceful dialogue and consultation with relevant countries to resolve disputes, and remains steadfast in safeguarding its territorial sovereignty and maritime rights and interests, the spokesperson stated.

As for Taiwan, it is an inalienable part of China, and the Taiwan question brooks no foreign interference, he said, adding that any attempt to split the island from its motherland will inevitably end in complete failure.

“We urge the G7 to abandon its Cold War mentality and ideological prejudice, and stop lecturing and pointing fingers at others. Such an approach will not work on the Chinese military,” Wu said. Enditem

MIL OSI China News –

March 28, 2025
MIL-OSI China: China, Thailand joint naval training to boost capabilities: spokesperson

Source: China State Council Information Office

The joint training exercises launched by the Chinese and Thai navies were to strengthen their ability to address maritime security threats, a Chinese military spokesperson said Thursday.

According to Wu Qian, spokesperson for the Ministry of National Defense, the training, which runs from March 26 to April 2 in south China’s Guangdong Province, involves 11 vessels and two marine detachments from both sides.

The training, code-named Blue Strike-2025, covers a range of subjects, including joint maritime strike operations, air and missile defense, maritime search and rescue, as well as counterterrorism and anti-piracy operations, Wu said at a press conference in Beijing.

By deepening training collaboration, the two navies aim to enhance cooperation, share experience, and strengthen friendship and trust. “This holds significant importance for maintaining regional peace and stability,” said the spokesperson.

It is the sixth of the “Blue Strike” joint naval training.

MIL OSI China News –

March 28, 2025
MIL-OSI China: US tariffs may harm global carmakers: EU auto group

Source: China State Council Information Office

The European Automobile Manufacturers’ Association (ACEA) on Thursday voiced deep concern over a new U.S. tariff measure targeting the auto sector, warning it could harm global carmakers and disrupt U.S. manufacturing.

It came a day after U.S. President Donald Trump signed an executive order to impose 25 percent tariffs on all vehicles and foreign-made auto parts imported into the United States.

In a statement, ACEA Director General Sigrid de Vries urged the U.S. administration to reconsider the tariffs, warning that the measure would not only raise costs for American consumers but also hurt manufacturers that rely on imported automotive parts to produce vehicles in the United States.

“European automakers have been investing in the U.S. for decades, creating jobs, fostering economic growth in local communities, and generating massive tax revenue for the U.S. government,” said de Vries.

According to ACEA, the export value of EU-made cars to the United States fell 4.6 percent last year to over 38.46 billion euros (about 41.4 billion U.S. dollars). Despite the decline, the United States remained the largest market for EU car exports.

The association called on both Washington and Brussels to engage in dialogue and work toward an “immediate resolution” to prevent tariffs and avoid the broader fallout of a trade war.

MIL OSI China News –

March 28, 2025
MIL-OSI China: New Russian ambassador to U.S. arrives in Washington D.C.

Source: China State Council Information Office

Russia’s new Ambassador to the United States Alexander Darchiev arrived in Washington D.C. on Wednesday.

Darchiev will informally present his credentials to the Trump administration on Thursday, according to the U.S. State Department.

U.S. Senior Bureau Official for the Bureau of European and Eurasian Affairs Louis L. Bono will attend the informal credential presentation in Washington, D.C. at 2:15 p.m. Eastern Time (1815 GMT) Thursday, according to schedule posted on the U.S. State Department website.

Russian President Vladimir Putin appointed Darchiev as the new ambassador to the United States on March 6. The position had been vacant since last October, when the previous envoy, Anatoly Antonov, left his post.

MIL OSI China News –

March 28, 2025
MIL-OSI China: Vice premier calls for safeguarding free trade at Boao annual conference

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

BOAO, Hainan, March 27 — The Boao Forum for Asia (BFA) Annual Conference 2025 opened on Thursday in Boao, south China’s Hainan Province.

Chinese Vice Premier Ding Xuexiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, attended the opening ceremony, calling for strengthening mutual trust, enhancing win-win cooperation, promoting economic globalization and safeguarding the free trade system.

Founded in 2001, the BFA is a non-governmental and non-profit international organization committed to promoting regional economic integration and bringing Asian countries closer to their development goals. Running from March 25 to 28, this year’s conference is themed “Asia in the Changing World: Towards a Shared Future.”

Addressing the opening ceremony, Ding said that significant progress has been made in building an Asian community with a shared future over the past decade.

“China and ASEAN have established a comprehensive strategic partnership, and the Regional Comprehensive Economic Partnership has entered into effect,” the vice premier said.

He added that regional economic integration has been strengthened, and Asia’s share in the global economy is steadily rising.

“Our world is experiencing far greater instability and uncertainty,” Ding noted, calling for joint efforts to address global challenges, build a shared Asian home and usher in a brighter future for Asia and beyond.

It is necessary to strengthen solidarity and cooperation through greater mutual trust, Ding said. Efforts should be made to champion the Asian values built around peace, cooperation, inclusiveness and integration, and respect each other’s core interests and major concerns, he added.

Ding stressed the importance of promoting economic globalization through openness and integration, urging efforts to jointly safeguard the free trade system, uphold open regionalism, and firmly oppose trade and investment protectionism.

To promote prosperity and development through mutual benefit and win-win cooperation, it is imperative to deliver on the Global Development Initiative and actively improve people’s livelihood, Ding noted.

He underscored the need of safeguarding tranquility and stability through peaceful coexistence. The vision of common, comprehensive, cooperative, and sustainable security in Asia should be upheld, while efforts should be made to ensure that Asia continues to be a land of peace and stability, Ding said.

On the Chinese economy, Ding said economic performance in the country has been running steadily with a stronger outlook.

The country will do its best to fulfill this year’s goals and tasks for economic and social development, he said. “China is confident of realizing these goals and will contribute to development in Asia and the world.”

China’s innovation-driven growth has gathered stronger momentum, presenting opportunities not only for the country itself but also for Asia and the world, Ding said.

Describing opening up as a distinct hallmark of Chinese modernization, the vice premier pledged that China will open wider to the world no matter how the external environment changes.

“We warmly welcome businesses from all countries to invest and operate in China, join in the process of Chinese modernization, and share in China’s development opportunities,” he said.

Thursday’s opening ceremony was attended by more than 1,500 representatives from over 60 countries and regions, including officials, business leaders and scholars.

MIL OSI China News –

March 28, 2025
MIL-OSI China: Chinese vice premier calls for mutually beneficial, win-win global sci-tech cooperation

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

Chinese vice premier calls for mutually beneficial, win-win global sci-tech cooperation

BEIJING, March 27 — Chinese Vice Premier Zhang Guoqing said on Thursday that China is willing to work with other countries to explore new models of mutually beneficial and win-win sci-tech cooperation to drive the development of new quality productive forces amid the deepening new round of sci-tech revolution and industrial transformation.

Zhang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks at the opening ceremony of the 2025 Zhongguancun Forum Annual Conference in Beijing.

China has been implementing an innovation-driven development strategy in depth, achieving fruitful results in the integration of sci-tech and industrial innovation while continuously strengthening the momentum of new industrialization and steadily developing new quality productive forces, Zhang noted.

He expressed China’s willingness to work with other countries to explore new models of mutually beneficial and win-win global sci-tech cooperation. The vice premier also called for joint efforts to leverage sci-tech innovation to lead the development of new quality productive forces, address global challenges such as climate change, and promote mutual benefit and win-win cooperation among nations.

The 2025 Zhongguancun Forum Annual Conference is themed “New Quality Productive Forces and Global Technology Cooperation.”

MIL OSI China News –

March 28, 2025
MIL-OSI China: China, New Zealand hold first round of talks on services trade negative list

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

BEIJING, March 27 — China and New Zealand have held the first round of negotiations on a services trade negative list under their free trade agreement (FTA), China’s Ministry of Commerce said Thursday.

The talks, held in Beijing from March 25 to 26, made positive progress and focused on establishing the principles, scope and framework for the negative list negotiations, the ministry said in a statement.

The ministry added that the two countries will implement important consensus reached by their leaders while actively advancing the negotiation process to elevate bilateral trade and investment cooperation.

The FTA was signed in April 2008 and came into effect in October of the same year. In January 2021, the two sides signed an upgraded protocol to the FTA, further deepening practical cooperation across various sectors.

MIL OSI China News –

March 28, 2025
MIL-OSI China: View of Ming’antu observing station in China’s Inner Mongolia

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

View of Ming’antu observing station in China’s Inner Mongolia

Updated: March 27, 2025 20:47 Xinhua

An aerial drone photo taken on March 25, 2025 shows the monitoring facilities of the second phase of the Chinese Meridian Project at the Ming’antu observing station of the National Astronomical Observatories of the Chinese Academy of Sciences in Zhengxiangbai Banner, Xilin Gol League, north China’s Inner Mongolia Autonomous Region. [Photo/Xinhua]

An aerial drone photo taken on March 25, 2025 shows the monitoring facilities of the second phase of the Chinese Meridian Project at the Ming’antu observing station of the National Astronomical Observatories of the Chinese Academy of Sciences in Zhengxiangbai Banner, Xilin Gol League, north China’s Inner Mongolia Autonomous Region. [Photo/Xinhua]

This photo taken on March 24, 2025 shows the antennae for the Chinese Spectral Radioheliograph (CSRH), an imaging telescope array, at the Ming’antu observing station of the National Astronomical Observatories of the Chinese Academy of Sciences in Zhengxiangbai Banner, Xilin Gol League, north China’s Inner Mongolia Autonomous Region. [Photo/Xinhua]

An aerial drone photo taken on March 25, 2025 shows the monitoring facilities of the second phase of the Chinese Meridian Project at the Ming’antu observing station of the National Astronomical Observatories of the Chinese Academy of Sciences in Zhengxiangbai Banner, Xilin Gol League, north China’s Inner Mongolia Autonomous Region. [Photo/Xinhua]

This photo taken on March 24, 2025 shows the antennae for the Chinese Spectral Radioheliograph (CSRH), an imaging telescope array, at the Ming’antu observing station of the National Astronomical Observatories of the Chinese Academy of Sciences in Zhengxiangbai Banner, Xilin Gol League, north China’s Inner Mongolia Autonomous Region. [Photo/Xinhua]

This photo taken on March 24, 2025 shows the monitoring facilities of the second phase of the Chinese Meridian Project at the Ming’antu observing station of the National Astronomical Observatories of the Chinese Academy of Sciences in Zhengxiangbai Banner, Xilin Gol League, north China’s Inner Mongolia Autonomous Region. [Photo/Xinhua]

This photo taken on March 24, 2025 shows the Ming’antu observing station of the National Astronomical Observatories of the Chinese Academy of Sciences in Zhengxiangbai Banner, Xilin Gol League, north China’s Inner Mongolia Autonomous Region. [Photo/Xinhua]

MIL OSI China News –

March 28, 2025
MIL-OSI China: Panel discussions held during Boao Forum for Asia

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

Panel discussions held during Boao Forum for Asia

Updated: March 27, 2025 21:07 Xinhua

A panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” is held during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Akylbek Zhaparov, former chairman of the Cabinet of Ministers of the Kyrgyz Republic, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Yasiru Bandara Ranaraja, founding director of the Belt and Road Initiative Sri Lanka, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Ai Yilun, general manager of Hainan State Farms Investment Holdings Group, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Ricardo Arroja, president of Portuguese Trade and Investment Agency, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Liu Qiao, dean of the Guanghua School of Management at Peking University, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Albert Park, chief economist of the Asian Development Bank, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

Benjamin Simpfendorfer, partner of Oliver Wyman, speaks at a panel discussion themed on “Maintaining Global Supply Chain Stability: The Role of Connectivity” during the Boao Forum for Asia (BFA) Annual Conference 2025 in Boao, south China’s Hainan Province, March 27, 2025. [Photo/Xinhua]

MIL OSI China News –

March 28, 2025
MIL-OSI USA: The United States remained the world’s largest liquefied natural gas exporter in 2024

Source: US Energy Information Administration

In-brief analysis

March 27, 2025

The United States exported 11.9 billion cubic feet per day (Bcf/d) of liquefied natural gas (LNG) in 2024, remaining the world’s largest LNG exporter. LNG exports from Australia and Qatar—the world’s two next-largest LNG exporters—have remained relatively stable over the last five years (2020–24); their exports have ranged from 10.2 Bcf/d to 10.7 Bcf/d annually, according to data from Cedigaz. Russia and Malaysia have been the fourth- and fifth-largest LNG exporters globally since 2019. In 2024, LNG exports from Russia averaged 4.4 Bcf/d, and exports from Malaysia averaged 3.7 Bcf/d.

U.S. LNG exports remained essentially flat compared with 2023 mainly because of several unplanned outages at existing LNG export facilities, lower natural gas consumption in Europe, and very limited new LNG export capacity additions since 2022. In December 2024, Plaquemines LNG Phase 1 shipped its first export cargo, becoming the eighth U.S. LNG export facility in service. We estimate that utilization of LNG export capacity across the other seven U.S. LNG terminals operating in 2024 averaged 104% of nominal capacity and 86% of peak capacity, unchanged from the previous year. While Europe (including Türkiye) remained the primary destination for U.S. LNG exports in 2024, accounting for 53% (6.3 Bcf/d) of the total exports, the share of U.S. LNG exports to Asia increased from 26% (3.1 Bcf/d) in 2023 to 33% (4.0 Bcf/d) in 2024. U.S. LNG exports to other regions, including the Middle East, North Africa, and Latin America, also increased last year and accounted for 14% (1.6 Bcf/d) of total exports, compared with 8% (0.9 Bcf/d) in 2023.

In 2024, U.S. natural gas exports to Europe decreased by 19% (1.5 Bcf/d), mostly to countries in the EU and the UK. U.S. LNG exports increased only to Türkiye and Greece in 2024—by 0.2 Bcf/d and 0.1 Bcf/d, respectively, compared with 2023. Türkiye imported more U.S. LNG compared with the prior year mainly to offset a decline in imports from other countries, such as Egypt and Russia. U.S. LNG exports to other EU countries and the UK decreased by 24% (1.7 Bcf/d) compared with 2023, primarily because of lower natural gas consumption and high storage inventories following the mild 2023–24 winter. At the same time, LNG import capacity in the EU and the UK expanded by more than 40% between 2021 and 2024 and will continue to grow in 2025 once new and expanded regasification facilities in Croatia, Cyprus, and Italy come online.

As in 2023, the Netherlands, France, and the UK imported the most U.S. LNG among countries in Europe, accounting for a combined 46% (2.9 Bcf/d) of the regional total. Since Germany started LNG imports in December 2022, U.S. LNG exports to Germany have grown and averaged 0.6 Bcf/d in both 2023 and 2024. However, in early 2025, Germany reduced its regasification capacity by terminating a charter for one of its floating storage and regasification units, citing high operational costs.

In 2024, countries in Asia imported 33% (4.0 Bcf/d) of total U.S. LNG exports. Among countries in Asia, Japan, South Korea, India, and China imported the most U.S. LNG—a combined 76% (3.0 Bcf/d). U.S. LNG imports increased the most in India—by 0.2 Bcf/d. Other countries in Asia imported 24% (1.0 Bcf/d) of U.S LNG.

In other regions, Egypt—a natural gas producer and LNG exporter—imported 0.3 Bcf/d of LNG from the United States, its first U.S. LNG imports since 2018. In recent years, Egypt’s domestic natural gas consumption, particularly in summer months, exceeded available supply and turned Egypt from an exporter to an importer of natural gas during several months of the year. In Brazil and Colombia, imports of U.S. LNG increased last year because drought reduced hydropower electricity generation and increased demand for generation from natural gas-fired power plants.

Principal contributor: Victoria Zaretskaya

MIL OSI USA News –

March 28, 2025
MIL-OSI: Global Radiotherapy Market Expected to Reach $9.62 Billion By 2030 Realizing Growth Due to Technological Advancements

Source: GlobeNewswire (MIL-OSI)

PALM BEACH, Fla., March 27, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Industry experts see the global radiotherapy market continuing to grow in the years to come. A recent report from MarketsAndMarkets said that the global radiotherapy market, which was valued at US$6.23 billion in 2022, grew at a robust CAGR of 4.9%, and reached US$7.21 billion in 2024 and is expected to reach an impressive US$9.62 billion by 2030. It said: “During the forecast years, the growth of the market is attributed to the focus on advancements in radiotherapy treatment technology growing patient population, increasing initiatives to promote radiotherapy awareness. Increasing use of particle therapy for cancer treatment among market players are also expected to support the growth of this market during the forecast period.” The report continued: “Technological advancements in radiotherapy methods, increasing cases of cancers, and the growing demand for radiotherapy services are areas of opportunity in this market. Market growth in North America is attributed to the favorable reimbursement scenario and the presence of key market players in the region. Emerging markets such as China, India are offering high growth opportunities for players operating in this market. Radiotherapy is a complex process that involves understanding the principles of medical physics, dosimetry, radiotherapy planning radiobiology, delivery and interaction of radiation therapy with other treatment modalities and the radiation safety.” Active biotech and pharma companies in the markets this week include Actinium Pharmaceuticals, Inc. (NYSE AMERICAN: ATNM), Bristol Myers Squibb (NYSE: BMY), Eli Lilly and Company’s (NYSE: LLY), Novartis AG (NYSE: NVS), AstraZeneca PLC (NASDAQ: AZN).

MarketsAndMarkets continued: “The development of advanced radiotherapy technologies has, in turn, resulted in an increased complexity of operations. Also, a high level of accuracy is needed at every step of the process to achieve maximum tumor control with minimal risk to normal tissue. The ecosystem market map of the overall radiotherapy market comprises the elements present in this market and defines these elements with a demonstration of the bodies involved. Ecosystem analysis elucidates the interdependencies among various components in the radiotherapy market. At the forefront, product, technology, and the application of radiotherapy analyzers serve as the cornerstones, facilitating consumables used in analysis.”

Actinium Pharmaceuticals, Inc. (NYSE AMERICAN: ATNM) Announces Supply Agreement with Eckert & Ziegler for Ac-225 Radioisotope to Support Comprehensive Development Activities – Actinium Pharmaceuticals, Inc. (Actinium or the Company), a pioneer in the development of targeted radiotherapies, recently announced it has entered into an agreement for the supply of Actinium-225 (Ac-225) with Eckert & Ziegler. Under this agreement, Actinium Pharmaceuticals will have access to Eckert & Ziegler’s high-quality Actinium-225 to further develop its lead product Actimab-A as well as additional early and late-stage development candidates for both U.S. and international clinical trials.

Targeted radiotherapies using Ac-225 have shown great promise in the treatment of cancer. The radioisotope releases powerful alpha particles with high energy and low penetration depth, enabling precise targeting of tumor cells, including hard-to-reach micrometastases, while minimizing effects on surrounding healthy tissue. Actimab-A is an Ac-225 based radiotherapy agent, directed against CD33, a receptor overexpressed in patients with acute myeloid leukemia (AML) and other myeloid indications.

Sandesh Seth, Chairman and CEO at Actium Pharmaceuticals, Inc. commented: “We believe that targeted radiation therapy with Actinium-225 is one of the most promising approaches for treating patients with myeloid malignancies and solid tumors. As we have highlighted recently, we are advancing our lead targeted radiotherapy Actimab-A into a pivotal Phase 2/3 trial for patients with relapsed or refractory acute myeloid leukemia and in the frontline setting in a Phase 1 trial under our CRADA with the NCI. Additionally, we have launched our Actimab-A solid tumor program to combine with PD-1 checkpoint inhibitors KEYTRUDA and OPDIVO for patients with head and neck squamous carcinoma and non-small cell lung cancer in multiple trials. As a pioneer in the development of target radiotherapies, we have aggressive plans to expand our clinical pipeline to address indications with high unmet needs. With this supply agreement with Eckert & Ziegler, we will have access to reliable and constant supply of Ac-225 to advance our product development both in the U.S. as well as internationally.”

“We are happy to contribute to the continuous expansion of indications for Actinium-225, which is significantly being advanced by Actinium Pharmaceuticals,” explained Dr. Harald Hasselmann, CEO of Eckert & Ziegler SE. “The progress we have made in our Ac-225 project over the past year marks only the start of our program to address the global shortage of this vital radionuclide.”

Eckert & Ziegler reliably supplies high-quality Gallium-68, Lutetium-177, Yttrium-90, and Actinium-225 to leading pharmaceutical companies, and research institutions worldwide. With expertise in radioisotope production and global logistics, the company is committed to continuously support the development and delivery of innovative radiopharmaceuticals. CONTINUED… Read this full press release and more news for Actinium Pharmaceuticals at: https://ir.actiniumpharma.com/press-releases

Other recent developments in the biotech industry of note include:

Bristol Myers Squibb (NYSE: BMY) recently announced that the European Commission (EC) has granted approval to Breyanzi^® (lisocabtagene maraleucel; liso-cel), a CD19-directed chimeric antigen receptor (CAR) T cell therapy, for the treatment of adult patients with relapsed or refractory follicular lymphoma (FL) after two or more lines of systemic therapy.

“This additional approval for Breyanzi in FL represents a critical step forward in our mission to deliver on the transformational promise of cell therapy for more patients across Europe,” said Emma Charles, senior vice president, Europe Region, Bristol Myers Squibb. “While significant advancements have been made in the last two decades, there still remains unmet need for patients. Newer treatments for FL, like Breyanzi, have shown impactful results in clinical trials, with the opportunity to deliver lasting results in the routine care setting.”

New results show Eli Lilly and Company’s (NYSE: LLY) EBGLYSS achieved deep and sustained response for patients with moderate-to-severe atopic dermatitis (eczema) at three years. These findings from the ADjoin long-term extension study will be presented at the American Academy of Dermatology (AAD) Annual Meeting, taking place March 7-11 in Orlando.

EBGLYSS is an interleukin-13 (IL-13) inhibitor that selectively blocks IL-13 signaling with high binding affinity. The cytokine IL-13 is a primary cytokine in atopic dermatitis, driving the type-2 inflammatory cycle in the skin, leading to skin barrier dysfunction, itch, skin thickening and infection.

Novartis AG (NYSE: NVS) recently announced that oral Fabhalta^® (iptacopan) has received U.S. Food and Drug Administration (FDA) approval for the treatment of adults with C3 glomerulopathy (C3G), to reduce proteinuria, making it the first and only treatment approved for this condition.

“C3G is a debilitating disease often affecting young people, impacting many aspects of their physical and emotional health, and our previous treatment options came with significant challenges,” said Carla Nester, M.D., M.S.A., F.A.S.N., Professor of Pediatrics-Nephrology at the University of Iowa and Fabhalta APPEAR-C3G Study Co-Investigator. “This approval of Fabhalta is historic for the entire C3G community as now, for the first time, we have a therapy that is believed to treat the underlying cause of the disease, providing the potential for a new standard of care for patients.”

AstraZeneca PLC (NASDAQ: AZN) – New study results presented at the European Lung Cancer Congress (ELCC) 2025, March 26 to 29, demonstrate the role of AstraZeneca’s TAGRISSO^® (osimertinib), as monotherapy and as the backbone for novel combinations, across stages and settings of epidermal growth factor receptor-mutated (EGFRm) non-small cell lung cancer (NSCLC). Highlights include:

Myung-Ju Ahn, MD, PhD, Professor of Hemato-Oncology at the Department of Medicine, Samsung Medical Center, Sungkyunkwan University School of Medicine, Seoul, South Korea, said: “A critical goal in treating every patient with lung cancer is to not only extend a patient’s life but also maintain quality of life while on treatment. The continued overall survival trend seen here at ELCC in the unresectable Stage III setting and the promising data for combinations that can address progression in the advanced setting, together reinforce osimertinib as an effective, safe and convenient treatment for patients with EGFR-mutated lung cancer across stages and lines of treatment.”

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The MIL Network –

March 28, 2025

Category: China

Committee on Contributions

Independent Audit Advisory Committee

Watch Kennedy’s comments here.

Rise of consumer genetic testing

Ahead of government

A rapid unravelling

Industry expansion

Corporate dealings

Changing privacy

Protecting access to fish

Public health crises

Environmental crime