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Category: China

  • MIL-OSI USA: Senator Collins, Colleagues Introduce Bill to Limit Research Theft

    US Senate News:

    Source: United States Senator for Maine Susan Collins

    Washington, D.C. — U.S. Senators Susan Collins, Tom Cotton (R-AR), Mike Lee (R-UT), John Barrasso (R-WY), and James Lankford (R-OK) introduced the Guarding American Technology from Exploitation (GATE) Act, legislation that would ban foreign scientists from China, Russia, Iran, North Korea, and Cuba from visiting or working in Department of Energy National Laboratories without a waiver granted by the Department of Energy and the intelligence community.

    “Sensitive research conducted at Department of Energy National Laboratories is vital to America’s national security and economic development. Allowing foreign scientists from adversarial nations access to this information poses a serious risk of espionage, sabotage, or theft – actions they may be pressured to undertake by the governments of their home nations,” said Senator Collins. “This legislation is a necessary step to prevent our adversaries from gaining unchecked access to critical taxpayer-funded research.”

    In Fiscal Year 2023, 40,000 foreign scientists visited our national labs and approximately 8,000 of those were Chinese or Russian, meaning 1 out of every 5 scientists visiting our national labs were from our most dangerous foreign adversaries. Last Congress, this legislation passed out of Senate Select Committee on Intelligence by a vote of 17-0, but it was not included in the National Defense Authorization Act.

    The complete text of the bill can be read here.

    MIL OSI USA News –

  • MIL-OSI USA News: The Staggering Cost of the Illicit Opioid Epidemic in the United States

    Source: The White House

    class=”wp-block-heading” id=”h-details”>Summary

    Fentanyl, a synthetic opioid 50 times more potent than heroin, is cheaper to produce and easier to smuggle across borders, fueling the illicit opioid epidemic in the United States with devastating consequences. In 2023 alone, illicit opioids, primarily fentanyl, cost Americans an estimated $2.7 trillion (in December 2024 dollars), equivalent to 9.7 percent of GDP. Of this total cost, 41 percent ($1.1 trillion) is attributed to deaths, 49 percent ($1.34 trillion) to lost quality of life, and 10 percent ($277 billion) to other costs such as healthcare, reduced labor productivity, and crime-related expenses. Alarmingly, 93 percent of opioid deaths are caused by powerful synthetic opioids like fentanyl, which typically originate in China and are trafficked through Mexico.

    This number dwarfs even pessimistic estimates of the effects of tariffs, like that of Goldman Sachs, who estimated losses of 0.4 percent of GDP.

    The CEA previously studied this issue and came up with a smaller number. The primary reasons are because it did not include the cost of reduced quality of life and because the number of deaths in 2015 was 33,000.

    Details

    Our cost estimates are based on a 2017 CDC study which we have updated to account for inflation and the sharp rise in opioid deaths and opioid use disorder (OUD) since then. According to the DEA, an estimated 74,702 Americans died in 2023, a staggering 1.6 times more than in 2017. Additionally, the number of Americans living with OUD increased by 2.7 times to 5.7 million during the same period. We have adjusted the calculations to reflect current prices as well as the alarming rise in opioid addiction and deaths. We scale up the loss of life estimates based on the increase in fatalities, while we scale up the other estimates to reflect the increase in the prevalence of those living with OUD. The breakdown of the cost estimates, all expressed in December 2024 dollars, is as follows:

    • Loss of life: $1.11 trillion. This estimate is calculated by multiplying the number of lives lost (74,702) by the value of statistical life in the United States and then adding productivity and healthcare costs that arise due to opioid fatalities. We inflation adjusted the $10.1 million value of a statistical life number provided by NIH (2017) to 2025 dollars ($13.0 million per life). The value of a loss of life is based on market and survey based evidence on what amount of money people are willing to forgo to change the probability of death. For example, many estimates rely on the value of life implied by the increase in wages required for people to take jobs with higher mortality risk.
    • Loss of quality of life: $1.34 trillion. This estimate is the product of three factors. First is a survey-based measure for the loss in quality of life for individuals with opioid use disorder (OUD) compared to those in full health. The measure shows that life with OUD has about 60 percent (0.626) of the quality of life of those in full health. Second is a measure of how much Americans value a year of life in full health. Adjusted for inflation, this value is estimated at $624,410 per person per year. Together these values imply that the lost quality of life costs $234,478 per year for each person living with OUD. We then multiply this value by the prevalence of OUD, estimated to be 5.7 million in 2023.
    • Healthcare system: $107 billion. This estimate represents the additional annual costs incurred by the healthcare system for treating individuals with opioid use disorder (OUD) relative to the average annual costs of treating those without OUD. This amounts to $19,000 additional dollars per year per person with OUD. These costs were primarily borne by private insurers, Medicaid, and hospitals providing uncompensated care. Ultimately, these costs are passed on to all Americans through higher insurance premiums, taxes, and healthcare expenses.
    • Loss of labor force productivity: $107 billion. This estimate is calculated by multiplying the number of productive work hours lost due to opioid-related deaths, OUD, and incarceration by the average hourly total compensation (wages and benefits) for American workers.
    • Crime-related: $63 billion. This figure represents the sum of costs incurred for additional police protection, judicial activities, correctional facilities, and property loss resulting from opioid-related crime.

    Conclusion

    The enormous economic cost of the illicit opioid epidemic to Americans, estimated at $2.7 trillion in 2023 alone, underscores the urgent need to control the flow of lethal drugs pouring in from foreign countries. The human suffering and financial burden inflicted by this epidemic are unsustainable.

    MIL OSI USA News –

  • MIL-OSI USA: Durbin Votes Against NIH Director Nominee, Dr. Jay Bhattacharya

    US Senate News:

    Source: United States Senator for Illinois Dick Durbin

    March 25, 2025

    WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL), a member of the Senate Appropriations Committee and Co-Chair of the Senate NIH Caucus, released the following statement after voting against President Trump’s pick to lead the National Institutes of Health (NIH), Dr. Jay Bhattacharya:

    “All the progress we have made at NIH and all the progress we hope to make is in danger because of Donald Trump and Elon Musk. They are carrying out an unprecedented and devastating campaign to cut research funding for cancers, ALS, Alzheimer’s, dementia, and infectious diseases. The lifesaving work at NIH benefits patients in red and blue states—providing hope to patients, supporting jobs in every community, and cementing our scientific leadership against China.

    “To achieve breakthroughs for patients, NIH needs a director who will fight back against President Trump’s misguided and dangerous proposals that threaten to delay new cures and treatments. I do not believe Dr. Bhattacharya is that person.”

    Durbin met with Dr. Bhattacharya earlier this year. During the meeting, Durbin questioned Dr. Bhattacharya about President Trump and Elon Musk’s illegal funding cuts at NIH. President Trump and Musk have frozen NIH grants to researchers nationwide and are attempting to cap “indirect costs” at 15 percent for lab capacity, which would be devastating for new cures that patients desperately seek. Durbin also pressed Dr. Bhattacharya about the reported indiscriminate firing of 1,200 NIH workers.

    Durbin twice asked for unanimous consent (UC) to pass a resolution he introduced with U.S. Senators Chris Van Hollen (D-MD) and Angela Alsobrooks (D-MD), as well as 21 other Senators, that would pledge support for NIH. The resolution simply said that the work of NIH should not be subject to interruption, delay, or funding disruptions in violation of the law, and it reaffirmed that the NIH workforce is essential to sustaining medical progress. The first UC request was blocked by U.S. Senator John Barrasso (R-WY) and the second was blocked by U.S. Senator Markwayne Mullin (R-OK).

    Durbin has long been a strong advocate for robust medical research. His legislation, the American Cures Act, would provide annual budget increases of five percent plus inflation at America’s top four biomedical research agencies: NIH, the Centers for Disease Control and Prevention, the Department of Defense Health Program, and the Veterans Medical and Prosthetics Research Program. Thanks to Durbin’s efforts to increase medical research funding, Congress has provided NIH with a 60 percent funding increase over the past decade.

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    MIL OSI USA News –

  • MIL-OSI Security: Bay Area-Based Flooring Company and Its Owners to Pay $8.1 Million to Settle False Claims Allegations Related to Customs Duties Evasions

    Source: Office of United States Attorneys

    LOS ANGELES – Evolutions Flooring Inc., a South San Francisco, California based importer of multilayered wood flooring, and its owners, Mengya Lin and Jin Qian, have agreed to resolve allegations that they violated the False Claims Act by knowingly and improperly evading customs duties on imports of multilayered wood flooring from the People’s Republic of China (PRC). The settlement is based on Evolutions’ and its owners’ ability to pay.

    To enter goods into the United States, an importer must declare, among other things, the country of origin of the goods, the value of the goods, whether the goods are subject to duties, and the amount of duties owed.

    U.S. Customs and Border Protection (CBP) collects applicable duties, including antidumping and countervailing duties assessed by the Department of Commerce and Section 301 duties imposed by the Office of the United States Trade Representative. Antidumping duties protect against foreign companies “dumping” products on U.S. markets at prices below cost, while countervailing duties offset foreign government subsidies.

    Section 301 duties similarly protect U.S. industry by imposing trade sanctions on foreign countries that violate U.S. trade agreements or engage in other unreasonable acts that burden U.S. commerce. During the relevant time period, PRC-manufactured multilayered wood flooring products were subject to antidumping, countervailing, and Section 301 duties.

    The settlement resolves allegations that Evolutions, at the direction of Lin and Qian, knowingly and improperly evaded customs duties, including antidumping, countervailing, and Section 301 duties, on multilayered wood flooring manufactured in the PRC that Evolutions imported between Sept. 1, 2019 and July 31, 2022. Among other things, the United States alleged that Evolutions caused false information to be submitted to CBP regarding the identity of the manufacturers and country of origin of the imported multilayered wood flooring.

    “The outcome of this case demonstrates that our office and its CBP partners will continue to safeguard the nation’s economic well-being,” said Acting United States Attorney Joseph McNally. “Fraud in international commerce deprives the United States of vital revenue and creates an unfair advantage over businesses that operate legitimately. The settlement sends a message that we will not stand aside when companies try to cheat the system.”

    “Import duties provide an important source of government revenue and level the playing field for U.S. manufacturers against their global competitors,” said Acting Assistant Attorney General Yaakov M. Roth of the Justice Department’s Civil Division. “The department will pursue those who seek an unfair advantage in U.S. markets, including by evading the duties owed on goods imported into this country from China.”

    “The team at CBP was instrumental in providing expertise and logistical support to this investigation,” said Director of Field Operations Cheryl M. Davies of the CBP Los Angeles Field Office. “Through its efforts, which included a site visit to factories in Thailand, review of identified shipments by CBP experts on multilayered wood flooring, an analysis of import records and data by Office of Trade Regulatory Audit, and involvement in interviews with witnesses, CBP contributed to a successful outcome in this matter.”

    The settlement with Evolutions and its owners resolves a lawsuit filed by Urban Global LLC under the whistleblower provision of the False Claims Act, which permits private parties to file suit on behalf of the United States for false claims and share in a portion of the government’s recovery. The civil lawsuit was filed in the Central District of California and is captioned United States of America ex rel. Urban Global LLC v. Struxtur Inc. et al., No. CV20-7217 (C.D. Cal.). As part of today’s resolution, relator Urban Global LLC will receive approximately $1,215,000 of the settlement proceeds.

    The resolution obtained in this matter was the result of a coordinated effort between the Civil Division’s Commercial Litigation Branch, Fraud Section, and the U.S. Attorney’s Office for the Central District of California, with assistance from CBP’s Office of Chief Counsel, West Region and Trade Regulatory Audit and the Center of Excellence and Expertise for Industrial and Manufacturing Materials within CBP’s Office of Trade.

    Assistant United States Attorney Sheng-Wen D. Jui of the Civil Division’s Civil Fraud Section and Senior Trial Counsel Christelle Klovers of the Justice Department’s Civil Division handled this case.

    The claims resolved by the settlement are allegations only; there has been no determination of liability.

    MIL Security OSI –

  • MIL-OSI Security: Private Shipping Company to Pay $400,000 to Settle Allegations of Transshipping Fentanyl Precursor Chemicals

    Source: Office of United States Attorneys

    SAN ANTONIO – IMC Pro International Inc. has agreed to pay $400,000 to the United States to resolve allegations it violated the Controlled Substances Act through transshipping fentanyl precursor chemicals.

    The United States alleged IMC Pro International Inc., a North Carolina-based shipping and logistics company, entered business agreements with several companies operating in China. Under the terms of these arrangements, IMC Pro agreed to provide these Chinese companies with access to IMC Pro’s accounts for common carriers in order to generate domestic shipping labels for the final destinations of various goods and products sold or manufactured by the Chinese companies. These labels identified IMC Pro as the company or entity shipping the packages, though IMC Pro did not store or handle the packages at any time, nor did IMC Pro maintain any records concerning the contents of the packages.

    The United States became aware of these business agreements after the U.S. Drug Enforcement Administration seized five packages in Eagle Pass, identifying IMC Pro as the shipper. Chemical analysis determined the five packages contained a total of 26.4 kgs of 1-BOC-4 Piperidone, a List I Regulated Chemical; and 138.66 kgs of (2-Bromoethyl) benzene, a chemical on the DEA’s Special Surveillance List and a laboratory supply within the definition provided under 21 U.S.C § 842(a)(11). Both chemicals are known to be used in the production of fentanyl. The United States alleged its investigation determined these packages were imported into the United States from China, transshipped to Eagle Pass, and intended for transport across the U.S./Mexican border where they were to be sent to be used in the production and manufacture of illicit fentanyl.

    “In the face of the fentanyl epidemic, my office will hold both those who distribute illicit fentanyl and those who provide the means to manufacture such substances accountable for their actions,” said Acting U.S. Attorney Margaret Leachman for the Western District of Texas. “IMC Pro took on a responsibility to ensure the packages shipped under its name complied with federal laws and regulations. I encourage shipping and logistics companies that may have engaged in similar business arrangements to uphold their own responsibilities and assist in the efforts to stop the flow of fentanyl.”

    “In addition to going after the drug cartels, DEA will continue to hold companies accountable who make it easy for drug trafficking organizations to get their hands on precursor chemicals to produce deadly synthetic drugs like fentanyl,” said Special Agent in Charge Daniel Comeaux for the DEA Houston Division. “This first-of-its-kind settlement exposes loopholes some companies are exploiting to bring poison to our communities.”

    The settlement includes an affirmation by IMC Pro that it will not engage in similar business agreements with foreign-based entities at any time now or in the future; the affirmation is binding on the company’s successors in interest as well. IMC Pro, upon being made aware its domestic shipping accounts had been used to transship fentanyl precursors, immediately took steps to shut down such shipping accounts and end the prior business agreements. IMC Pro is further cooperating with the United States to assist in identifying other instances of transshipment of fentanyl precursors.

    Assistant U.S. Attorney Erin Van De Walle negotiated the settlement on behalf of the United States.

    The claims resolved by the settlement are allegations only and there has been no determination of liability.

    ###

    MIL Security OSI –

  • MIL-OSI United Nations: Secretary-General Urges Developed Countries to Double Annual Climate Adaptation Finance to $40 Billion

    Source: United Nations MIL OSI b

    Following are UN Secretary-General António Guterres’ remarks to the virtual high-level segment of the Sixteenth Petersberg Climate Dialogue, held in New York today:

    Thank you for this opportunity — and for your focus today on collective climate action and acceleration of implementation.  This could not be more timely.  There is much uncertainty and instability in our world. But, today, we meet in the wake of some good news.

    Just this morning, the International Renewable Energy Agency (IRENA) officially confirmed that 2024 was a record year for renewables additions to global power capacity.  Renewables represented more than 92 per cent of all new electricity-generation capacity installed last year.

    The amount of renewables added represents more than the total electricity capacity of Brazil and Japan combined.  Europe’s capacity grew by 9 per cent — with Germany contributing more than one quarter of that growth.  Africa’s capacity grew by almost 7 per cent.

    All of this is another reminder of a twenty-first century truth:  Renewables are renewing economies.  They are powering growth, creating jobs, lowering energy bills and cleaning our air. And every day, they become an even smarter investment.

    Since 2010, the average cost of wind power has plunged 60 per cent.  Solar is 90 per cent cheaper.  In 2023, clean energy sectors accounted for 5 per cent of economic growth in India and 6 [per cent] in the United States.  It accounted for a fifth of China’s GDP [gross domestic product] growth, and a third of the European Union’s.

    The economic case for — and opportunities of — climate action have become ever clearer — particularly for those who choose to lead. And leadership is what we need — as today’s IRENA report shows:

    To accelerate the shift to renewables and to correct the imbalances in the transition, which is still starving developing countries — outside China — of the investment needed to fully embrace clean energy.

    As the title of this session puts it so well:  we are indeed at a turning point to the future. In the 10 years since Paris, we have seen other important progress.  Ninety per cent of global emissions are now covered by net-zero targets.

    A decade ago, the planet was on course for a global temperature rise of over 4°C.  Today, countries’ national climate plans — or NDCs [nationally determined contributions] — if fully delivered — will take us closer to a 2.6°C rise.

    At the same time, climate challenges are piling up.  It seems records are shattered at every turn — the hottest day of the hottest month of the hottest year of the hottest decade ever.

    All of this is hitting the vulnerable hardest, and everyday people in their pockets — with higher living costs, higher insurance premiums and higher food prices.  Just last week, the World Meteorological Organization (WMO) confirmed that 2024 was another alarming year.

    Almost every climate indicator reached new and increasingly dangerous heights — inflaming displacement and food insecurity and inflicting huge economic losses.  And for the first time, the annual global temperature was 1.5°C hotter than pre-industrial times.

    Scientists are clear:  it is still possible to meet the long-term 1.5°C limit.  But, it requires urgent action.  And it requires leadership. I see two critical fronts to drive action.

    First, new national climate plans — or NDCs — due by September.  Investors need certainty and predictability.  These new plans are a unique opportunity to deliver and lay out a coherent vision for a just green transition.  They must align with the 1.5°C limit, as agreed at COP28 [twenty-eighth Conference of the Parties to the United Nations Framework Convention on Climate Change].  And cover all emissions and the whole economy.

    Together, they must reduce global emissions 60 per cent by 2035 compared to 2019 and contribute to the COP28 global energy transition goals.

    All this must be achieved in line with the principle of common but differentiated responsibilities and respective capabilities, in the light of national circumstances but everybody, everybody must do more.  The Group of 20 (G20) — the largest emitters and economies — must lead.

    Every country must step up and play their part.  The United Nations is with you all.  President Lula and I are working to secure the highest ambition from the largest economies.

    The United Nations Climate Promise is supporting 100 countries to prepare their new climate plans.  And we will convene a special event in September to take stock of the plans of all countries, push for action to keep 1.5°C within reach, and deliver climate justice.

    Second, we must drive finance to developing countries.  The COP29 finance agreement must be implemented in full.  I count on the leadership of the COP29 and COP30 presidencies to deliver a credible road map to mobilize $1.3 trillion a year by 2035.

    We need new and innovative sources of financing, and credible carbon pricing.  Developed countries must honour their promise to double adaptation finance to at least $40 billion a year, by this year.

    And we need serious contributions to the fund for responding to loss and damage, and to get it up and running.

    We can only meet these goals with stronger collaboration between Governments, and across society and sectors.  Those that will lag behind need to be not a reason for us to be discouraged, but an increase in our commitment to move forward.

    The rewards are there for the taking, for all those ready and willing to lead the world through these troubled times.  We are at a turning point.  I urge you to seize this moment; and seize the prize.

    MIL OSI United Nations News –

  • MIL-OSI United Kingdom: expert reaction to study on first genetically modified pig-to-human liver transplantation

    Source: United Kingdom – Executive Government & Departments

    A study published in Nature looks at a genetically modified pig-to-human liver xenotransplantation.

    Prof Peter Friend, Professor of Transplantation, University of Oxford, said:

    “This is an important study because it advances the field of xenotransplantation from non-human primates to human, enabling assessment of transgenic xenografts in the context of human immunological and physiological systems.

    “This is a very elegant surgical technique which allows the insertion of a (relatively small) xeno-liver with limited disruption to the anatomy of the existing liver (i.e. it is potentially feasible in a clinical setting as a temporary bridging technique).

    “The genetic modifications are similar (although not identical) to those used in the recently reported heart and kidney clinical xeno-transplants, and also the xeno-liver cross-circulation studies performed at the University of Pennsylvania.

    “The presence of the brain-dead donor’s native liver means that we cannot extrapolate the extent to which this xenograft would have supported a patient in liver failure. However, this study does demonstrate that these genetic modifications allow the liver to avoid hyperacute rejection and (significantly) that the thrombocytopenia associated with liver xenotransplantation is self-limiting, with the platelet count recovering within 7 days. The mechanism of this phenomenon is not fully understood.

    “Although the maintenance of normal coagulation parameters (e.g. INR) is reassuring, because the clotting factors produced by the xenograft were not measured directly, the data do not definitively prove that this is a function of the xenograft rather than the native liver.”

     

     

    Comments provided by our friends at SMC Spain:

    Rafael Matesanz, creator and founder of the National Transplant Organisation (Spain), said:

    “A frequent approach in the development of xenotransplants of different organs, before moving on to the clinical phase, is to perform them in patients in brain death but with haemodynamic stability, so that the evolution of the organ and the impact on the deceased person’s organism can be assessed at least in the short term, but with circulation maintained.

    “At least three kidney transplants have been performed in the United States since 2021 – one with up to 61 days of follow-up in brain-dead patients – and two heart transplants, which served to accumulate a number of useful lessons. In both modalities, they preceded the first clinical experiences in living people, which so far have resulted in two heart transplants (both deceased) and four kidney transplants, two of which have survived after several months of evolution.

    “The team at the Xi’an Military Hospital in China has had extensive experience in experimental transplantation of all types of organs from pigs to monkeys for more than a decade. This is the world’s first case of a transplant of a genetically modified pig liver into a brain-dead human. The ultimate goal of the experiment was not to achieve a standard liver transplant, but to serve as a ‘bridge organ’ in cases of acute liver failure, while awaiting a human organ for a definitive transplant. The experience lasted 10 days and the porcine organ remained in good condition, with acceptable basic metabolic function and no signs of acute rejection, indicating that the procedure was successful for its intended purpose and could be used in vivo in the near future.

    “In short, this is an important experiment, which opens up a different path to what has been tried so far in both vital organs (heart) and non-vital organs (kidney), such as the temporary replacement of the diseased liver until a human liver can be obtained for the definitive transplant’.”

    Iván Fernández Vega, Professor of Pathological Anatomy at the University of Oviedo (Spain), Scientific Director of the Principality of Asturias Biobank (BioPA) and Coordinator of the Organoid hub of the ISCIII Biomodels and Biobanks Platform, said:

    “I found the work very relevant, but we have to be cautious. The study represents a milestone in the history of liver xenotransplantation, describing for the first time a transplantation of a genetically modified porcine liver into a human being (in this case, a brain-dead human).The quality of the work is very high, both in terms of scientific rigour and the exhaustive clinical, immunological, histological and haemodynamic characterisation of the procedure. Sophisticated genetic modifications have been applied to the graft to prevent hyperacute rejection, one of the most critical complications in preclinical models of xenotransplantation.

    “The clinical implications are highly relevant, as optimising this approach could expand the pool of available organs and save lives in liver emergencies. This work complements and extends the existing evidence on previous pig-to-human heart and kidney xenotransplantation. It provides several relevant novelties:

    • It is the first study to demonstrate that a genetically modified porcine liver can survive and exert basic metabolic functions (albumin and bile production) in the human body.
    • It shows that there was no major coagulation dysfunction, in contrast to what was observed in other models, such as the first human cardiac xenotransplantation, where microthrombi and severe disorders were detected.
    • He points out the need to assess possible myocardial damage in early postoperative phases, given the early elevation of AST and cardiac enzymes, which can be confused with liver damage.
    • The use of xenograft as a bridging therapy is proposed, especially in patients with acute liver failure awaiting a human graft, although not as a definitive solution, as bile and albumin production was limited for long-term support.

    “However, the study has relevant limitations:

    • A major limitation of the study is that it is a single case (n=1), which precludes drawing generalisable conclusions or establishing robust patterns of clinical and immunological response. Although this is a pioneering advance, studies with a larger sample and in living recipients will be necessary to confirm the safety, efficacy and reproducibility of the procedure.
    • Limited duration of follow-up (10 days), by decision of the recipient’s family, which prevents assessment of medium- and long-term viability of the graft. Therefore, it does not add information in relation to acute and chronic rejection of xenotransplantation.
    • Only basic liver functions (albumin synthesis and bile secretion) were assessed, with no data on other complex liver functions such as drug metabolism, detoxification or immune function.
    • The heterotopic helper transplantation procedure would not allow resection of the original liver, which invalidates it as a strategy for example in patients with hepatocarcinoma awaiting transplantation.”

    ‘Gene-modified pig-to-human liver xenotransplantation’ by Wang et al. was published in Nature at 16:00 UK time on Wednesday 26th March.

    DOI: 10.1038/s41586-025-08799-1

    Declared interests

    Iván Fernández Vega “He declares that he has no conflicts of interest.”

    Prof Peter Friend: “Please note I have an association with OrganOx Ltd, a spin-out company from the University of Oxford: I am a co-founder and Chief Medical Officer. OrganOx manufactures a liver perfusion device for use in liver transplantation (the OrganOx metra); this is being adapted for potential use in liver support using extra-corporeal liver perfusion. OrganOx is now working in collaboration with eGenesis, the University of Pennsylvania and the University of Oxford to test the use of genetically-modified pigs as a source of organs for extra-corporeal liver support.”

    For all other experts, no reply to our request for DOIs was received.

    MIL OSI United Kingdom –

  • MIL-OSI Economics: Secretary-General of ASEAN attends dinner hosted by Ambassador of China to ASEAN

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, attended a dinner hosted by Ambassador of the People’s Republic of China to ASEAN, H.E. Hou Yanqi, this evening. Both sides took the opportunity to exchange views on ASEAN-China Comprehensive Strategic Partnership, including deliverables of ASEAN-China cooperation this year in support of ASEAN’s priorities in 2025 and beyond.

    MIL OSI Economics –

  • MIL-OSI Europe: ASIA/CHINA – Four new priests ordained in Ningbo on the Feast of the Annunciation

    Source: Agenzia Fides – MIL OSI

    Wednesday, 26 March 2025

    Ningbo (Agenzia Fides) – The Diocese of Ningbo, in the Chinese province of Zhejiang, celebrated the ordination of four new priests on March 25, the Feast of the Annunciation of the Lord. The diocesan priests, according to the diocesan website, then concelebrated the liturgy with Bishop Francis Xavier Jin Yangke, Ordinary Bishop of the diocese, in the Cathedral dedicated to the Assumption of Mary.The ecclesial communities of the four deaneries, together with friends and family, accompanied the vocational journey of the new priests. Three of them graduated from the Major Seminary of Hebei and one from that of Shenyang, completing their missionary and pastoral formation in various parishes in the diocese.The ecclesial community of the Diocese of Ningbo is experiencing a flourishing of vocations, with several priestly ordinations and religious professions recorded each year.The Sisters of the Congregation of the Daughters of Purgatory, composed of about fifty nuns, also receive numerous vocations annually. The diocese is divided into four deaneries, with 12 parishes and 106 churches and chapels. Historically, the ecclesial community of Ningbo is linked to the missionary work of the Lazarist Fathers and, earlier, between the 17th and 18th centuries, to the mission of Jesuits such as Martino Martini, Lodovico Buglio, Joao Monteiro, Rodrigue de Figueredo, Antoine de Gouvea, and Jean Alexis de Gollet. The Apostolic Vicariate of Ningbo was established in 1924 and entrusted to Paul Marie Reynaud CM, and elevated to a diocese in 1926, the year in which the first six Chinese bishops were ordained.Since the resumption of ecclesiastical activities in 1979, the diocese has prioritized the reopening of churches, the formation of priests and religious, and the application of the spirit of the Second Vatican Council. Located in a region of significant economic development, the Diocese of Ningbo stands out for its pastoral, cultural, and social activities. On May 24, 2024, the diocese hosted a conference commemorating the centenary of the Primum Concilium Sinense, the first council of the Church in China, held in Shanghai in 1924. (NZ) (Agenzia Fides, 26/3/2025)

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    MIL OSI Europe News –

  • MIL-OSI China: China urges US not to project its hegemonic logic onto China

    Source: China State Council Information Office

    China urges the United States not to project its hegemonic logic onto China or view China-U.S. relations through an outdated Cold War mentality, Chinese foreign ministry spokesperson Guo Jiakun said in Beijing on Wednesday.

    Guo made the remarks at a regular press briefing in response to a media query on a U.S. report that claimed China was the United States’ top military and cyber threat.

    The U.S. side issues these irresponsible and biased reports year after year, spreading the “China threat” narrative and stoking competition between major countries, merely as an excuse to contain and suppress China, and to maintain its own hegemony, the spokesperson said.

    “China’s development is based on a clear logic of history and a strong internal driving force. Our goals, pursued in an open and honest manner, are simply to allow the Chinese people to live better lives and to make greater contributions to the world. We have no intention of surpassing or replacing any country,” Guo noted.

    He said that the Taiwan question is purely China’s internal affair, adding that the Chinese side remains steadfast in its determination to oppose “Taiwan independence” and safeguard national sovereignty and territorial integrity, and that no one should underestimate or misjudge this.

    “We urge the United States not to project its hegemonic logic onto China or view China-U.S. relations through an outdated Cold War mentality, and not to contain and suppress China under the guise of strategic competition,” Guo said.

    He added that the United States should stop conniving and supporting “Taiwan independence” separatist forces in any form, and cease hyping up the “China threat” narrative. Instead, it should take concrete actions to promote the stable, healthy and sustainable development of China-U.S. relations.

    MIL OSI China News –

  • MIL-OSI China: Chinese mainland denounces certain countries’ unwarranted comments on Taiwan question

    Source: China State Council Information Office

    A Chinese mainland spokesperson on Wednesday voiced firm opposition to certain countries’ unwarranted comments on the Taiwan question, which grossly interfered in China’s internal affairs.

    Chen Binhua, spokesperson for the Taiwan Affairs Office of the State Council, gestures at a regular press conference in Beijing, capital of China, March 26, 2025. (Xinhua/Chen Yehua)

    Chen Binhua, a spokesperson for the State Council Taiwan Affairs Office, made the remarks at a press conference while responding to a query regarding the joint statement of the recent G7 Foreign Ministers’ Meeting, which expressed support for Taiwan’s participation in international organizations.

    “There is only one China in the world, and Taiwan is a part of China. This is the real status quo of the Taiwan Strait,” he said, adding that by stubbornly sticking to “Taiwan independence,” Taiwan’s Democratic Progressive Party (DPP) authorities are the disruptors of the status quo and the biggest source of turmoil undermining peace and stability in the Strait.

    Relevant countries should strictly adhere to the one-China principle and support China’s peaceful reunification if they really hope for peace and stability in the Strait, rather than challenge the principle and stir up trouble over the Taiwan question, Chen said.

    On another query concerning Taiwan’s purchase of arms from the United States, the spokesperson expressed firm opposition to any form of U.S.-Taiwan military exchange, and urged the U.S. side to stop arming Taiwan.

    “As the DPP authorities squander the hard-earned money of the people to buy arms from the United States, disaster also comes along,” Chen said.

    MIL OSI China News –

  • MIL-OSI China: AI-powered job fair held in Harbin, China’s Heilongjiang

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

    AI-powered job fair held in Harbin, China’s Heilongjiang

    Updated: March 26, 2025 21:21 Xinhua
    Students learn about employment information at a job fair held at Harbin Institute of Technology in Harbin, northeast China’s Heilongjiang Province, March 26, 2025. Featuring AI technologies such as career counseling, resume polishing and interview, an AI-powered job fair with the participation of 620 companies was held at Harbin Institute of Technology on Wednesday, providing over 42,000 positions to job seekers. [Photo/Xinhua]
    A student learns about AI interview at a job fair held at Harbin Institute of Technology in Harbin, northeast China’s Heilongjiang Province, March 26, 2025. [Photo/Xinhua]
    Students learn about employment information at a job fair held at Harbin Institute of Technology in Harbin, northeast China’s Heilongjiang Province, March 26, 2025. [Photo/Xinhua]
    Students learn about employment information at a job fair held at Harbin Institute of Technology in Harbin, northeast China’s Heilongjiang Province, March 26, 2025. [Photo/Xinhua]
    Students learn about employment information at a job fair held at Harbin Institute of Technology in Harbin, northeast China’s Heilongjiang Province, March 26, 2025. [Photo/Xinhua]
    A student learns about employment information at a job fair held at Harbin Institute of Technology in Harbin, northeast China’s Heilongjiang Province, March 26, 2025. [Photo/Xinhua]
    Students learn about employment information at a job fair held at Harbin Institute of Technology in Harbin, northeast China’s Heilongjiang Province, March 26, 2025. [Photo/Xinhua]
    Students learn about employment information at a job fair held at Harbin Institute of Technology in Harbin, northeast China’s Heilongjiang Province, March 26, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: Eyeing free trade port milestone, China pushes toward higher-level opening up

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

    BOAO, Hainan, March 26 — As the world economy faces mounting uncertainty and rising protectionism, China is reaffirming its commitment to openness, with the Hainan Free Trade Port (FTP) emerging as an important gateway driving the country’s opening up in the new era.

    At the Boao Forum for Asia (BFA) annual conference, officials and experts underscored the significance of the Hainan FTP, as preparations accelerate for its independent customs operations, scheduled to begin by the end of 2025.

    “Following the launch of independent customs operations, the Hainan FTP is expected to further improve the free and convenient flow of trade and investment with the rest of the world, while forging even closer ties with China’s vast domestic market,” said Liu Xiaoming, governor of south China’s island province of Hainan.

    Local officials told Xinhua that preparations for the independent customs operations, a milestone in the construction of the Hainan FTP, have entered a critical sprint stage. All 31 checkpoint facility projects required for the operations have been completed, laying a solid foundation for the efficient movement of goods, people, and other key factors.

    Hainan is China’s first province to transform an entire island, spanning 34,000 square kilometers, into a free trade port that serves as a testbed for the unrestricted flow of goods, services, capital and data.

    “The mission of a free trade zone or port is to break down barriers, not to build high walls, and to create opportunities, not to monopolize the benefits,” Liu said, adding that Hainan is willing to cooperate with other global FTPs in areas such as logistics, industries and green development.

    Hainan FTP is also a frontier for the innovation of regulations and mechanisms, according to Zhou Xiaochuan, vice chairman of the BFA.

    As a key platform, the FTP can offer opportunities for countries worldwide, particularly those in Asia, to explore China’s vast market — home to over 1.4 billion people.

    “I think the FTP has great possibility to help international businesses get attracted to China and expand not only to serve China but also the rest of the world,” said Carl F. Fey, professor of strategy at BI Norwegian Business School.

    By the end of 2024, Hainan was home to 9,979 foreign-invested enterprises, 77.3 percent of which were established after June 2020, when China released its master plan for the Hainan FTP. The number of countries and regions investing in the province has grown from 43 in 2018 to 174 today.

    BFA Chairman and former UN Secretary-General Ban Ki-moon called China’s decision to build the Hainan FTP “a courageous move that takes vision and leadership.”

    Highlighting the significance of Hainan alongside other global FTPs from Dubai, Singapore and Hong Kong, Ban added that such models demonstrate what trade and openness can deliver for growth, well-being, and sustainability at a time when globalization faces headwinds.

    The Organization for Economic Cooperation and Development recently revised its global GDP forecast downward, from 3.3 percent to 3.1 percent for 2025 and 3 percent for 2026, citing higher trade barriers in several G20 economies and increased geopolitical and policy uncertainty weighing on investment and household spending.

    Participants at the forum hailed the Hainan FTP as a prime example of China’s higher-level opening up.

    Since 1978, China’s commitment to reform and opening up has transformed it from an impoverished nation into a market-oriented economic powerhouse, driving high-quality development and creating opportunities shared with the rest of the world.

    “Regardless of changes in the external environment, we should remain steadfast in our commitment to opening up,” said the Chinese government work report released early this month. “We should steadily expand institutional opening up and take the initiative to open wider and advance unilateral opening up in a well-ordered way, to promote reform and development through greater openness.”

    In late 2024, China granted zero tariff treatment to 100 percent of tax lines from all the least developed countries that have established diplomatic relations with China.

    Since last year, the country has introduced measures to expand opening up in sectors such as value-added telecommunications and healthcare, completely removed foreign investment access restrictions in manufacturing, and reduced nationwide foreign investment access restrictions from 31 to 29 items.

    “We will ensure national treatment for foreign-funded enterprises in fields such as access to production factors, license application, standards setting, and government procurement,” the government work report said.

    Thanks to these efforts, nearly 90 percent of surveyed respondents expressed that they were “very satisfied” or “relatively satisfied” with the business environment in China in 2024, an increase of 2.1 percentage points compared to 2023, according to a report released by the China Council for the Promotion of International Trade.

    China’s opening up at a high level, undoubtedly, is of great significance and will bring new opportunities for Asia and the world at large, Ban said.

    China’s GDP grew by 5 percent year on year in 2024, ranking among the world’s fastest-growing major economies and continuing to contribute about 30 percent to global economic growth.

    Looking ahead, Zhou Xiaochuan expressed confidence that as the Chinese government accelerates the rollout of core policies for the Hainan FTP, the province will play an increasingly vital role in a changing world, strengthening Asia’s ties and supporting broader global cooperation.

    MIL OSI China News –

  • MIL-OSI China: China boosts global confidence for win-win cooperation

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

    Beijing, March 26 — Against the backdrop of global economic fragmentation and rising uncertainties, China reaffirmed its commitment to innovation-driven high-quality development and global cooperation at the just-concluded China Development Forum (CDF) 2025.

    Chinese Premier Li Qiang, who delivered a keynote speech at the opening ceremony of CDF 2025, underscored China’s commitment to its 2025 growth target of around 5 percent, signaling strong confidence in the country’s economic prospects.

    The decision reflects both China’s profound understanding of its economic conditions, and confidence in its governance capacity and future development potential, Li said, calling for the combination of more proactive and impactful macro policies with structural reforms, and voicing hope that China will continue to welcome enterprises from around the world with open arms.

    The premier added that the country will safeguard free trade, and contribute to the smooth and stable operation of global industrial and supply chains.

    Themed “Unleashing Development Momentum for Stable Growth of Global Economy,” the high-profile gathering held from March 23 to 24 in Beijing brought together Chinese policymakers, global business leaders, and leading international scholars to chart a course for sustainable growth amid uncertainties.

    “China is open for business and China is set for growth,” said Ola Kallenius, chairman of the board of management of Mercedes-Benz Group AG, on the sidelines of the event.

    STABILITY AMID UNCERTAINTIES

    As the theme of stability resonated throughout the forum discussions, Han Wenxiu, executive deputy director of the Office of the Central Committee for Financial and Economic Affairs, provided insight into China’s economic resilience and stability to counteract global uncertainties.

    “Amid rising external instability and uncertainty, China will remain firmly focused on pursuing its own development, leveraging the certainty of high-quality growth to offset external uncertainties and striving to serve as a stabilizing anchor for the global economy,” Han added.

    International observers echoed confidence in China’s economic prospects. Jeffrey Sachs, renowned economist and director of Columbia University’s Center for Sustainable Development, told Xinhua that China’s around-5-percent growth target is “perfectly achievable,” adding that the country is “booming in key sectors, especially digital, artificial intelligence, robotics, and this is going to propel a Chinese growth.”

    In the eyes of Standard Chartered Group Chief Executive Bill Winters, China’s growth story has shifted. “It is now about transformation and unleashing new productive forces to flourish to support high-quality growth,” he said.

    A PwC report released at the CDF noted that over the past two years, driven by new quality productive forces, China has demonstrated a commercial evolution path distinct from those of the traditional industrialized nations, marked by improvements in production factors, transformations in business models, and the intelligent reshaping of industrial chains.

    “This has opened up new opportunities for global business investment and development in China, highlighting the new advantages of the Chinese market during the global economic transition period,” the report read.

    INNOVATION AS NEW GROWTH ENGINE

    Finance Minister Lan Fo’an offered concrete details about China’s supportive fiscal policies, emphasizing their role in stimulating innovation and consumption. “We’re implementing targeted measures to convert potential demand into real growth drivers,” Lan explained.

    “This includes increasing fiscal support for tech innovation and providing tangible assistance to private enterprises.” He specifically highlighted plans to “accelerate the development of new quality productive forces” through strategic investments in artificial intelligence (AI) and other cutting-edge technologies.

    Data showcased China’s progress: its global innovation index ranking rose to 11th in 2024, with 19.6 percent, 27 percent, 64 percent, and 91.5 percent year-on-year growth in semiconductor wafers, industrial robots, bullet trains, and drones respectively in early 2024.

    The nation’s emphasis on innovation as a driver for high-quality growth resonated strongly throughout the forum. Siemens AG President and CEO Roland Busch pointed to China’s advances in AI and high-tech manufacturing.

    “China gave the answer for where growth would come from: Growth from high tech, growth by higher efficiency, and high-quality growth,” he remarked, adding that China surprises the world with innovations like the open foundational model R-1 developed by DeepSeek.

    Kallenius also praised China’s innovation-driven market. “China’s competitive advantage lies in its passion for innovation,” he said. “That is why Mercedes-Benz continues to deepen its presence in China.”

    Reflecting this trend, AstraZeneca CEO Pascal Soriot emphasized the country’s emergence as a global leader in life sciences. “Today, China is home to one of AstraZeneca’s Global R&D Centres, where our researchers in Shanghai are spearheading 20 global clinical trials and advancing over 200 pipeline projects,” he said.

    Prior to the forum, the British pharmaceutical giant signed a landmark 2.5-billion-U.S. dollar agreement on Friday to invest in Beijing over the next five years, the largest single investment in Beijing’s biopharmaceutical sector in recent years.

    Under the agreement, AstraZeneca will establish a global strategic R&D center in Beijing, its sixth worldwide and second in China after one in Shanghai. The new center, equipped with an advanced AI and data science laboratory, will accelerate early-stage drug research and clinical development.

    “Looking ahead, China will not only serve as a global innovation hub but also a core arena for setting standards and reshaping industrial chains,” the PwC report added.

    OPEN COLLABORATION FOR SHARED FUTURE

    From CDF 2025 in Beijing to the Boao Forum for Asia (BFA) Annual Conference 2025 in south China’s Hainan Province, foreign executives reaffirmed their commitment to China as a key market for investment and collaboration: China’s complete industrial system, rich application scenarios, vast market scale, and large talent pool offer extensive collaboration opportunities for international industrial and technological innovation.

    The Japanese Chamber of Commerce and Industry in China said in its latest survey that 58 percent of its member firms plan to expand or maintain investments in China through 2025, while 53 percent of U.S. companies are expected to invest more in the country, according to the American Chamber of Commerce in China.

    BMW AG Chairman Oliver Zipse stressed that “economic prosperity comes from openness, not protectionism,” while criticizing trade barriers. “The best response to ‘de-risking’ strategies is more cooperation, not less.”

    Speaking to global business leaders attending the CDF, Lan also emphasized that China’s fiscal policy will support high-standard opening up, and that China will ensure equal treatment for all types of business entities and continue to improve the business environment.

    “For global companies, China’s commitment to high-tech innovation and open collaboration makes it an indispensable partner for long-term growth,” said Busch, highlighting China’s rapid technological advancements and collaborative spirit.

    Jean-Pascal Tricoire, chairman of Schneider Electric, said: “China is not only our second-largest worldwide market but it’s also a vital source of innovation.” For the French industrial giant, China will remain a key partner as it navigates the complexities of a rapidly changing world, he added.

    While China accelerates its push toward innovation-led growth and deepens its commitment to openness, global businesses continue to see the country as a critical partner in achieving long-term economic prosperity, and as the premier put it, there is a growing need for countries to open their markets and for enterprises to share resources, in order to address challenges and pursue common prosperity.

    MIL OSI China News –

  • MIL-OSI United Nations: Secretary-General’s remarks to the Virtual High-Level Segment of the 16th Petersberg Climate Dialogue [as delivered]

    Source: United Nations secretary general

    Thank you for this opportunity — and for your focus today on collective climate action and acceleration of implementation. 

    This could not be more timely. 

    There is much uncertainty and instability in our world.

    But today we meet in the wake of some good news.

    Just this morning, the International Renewable Energy Agency officially confirmed that 2024 was a record year for renewables additions to global power capacity. 

    Renewables represented more than 92 per cent of all new electricity generation capacity installed last year.
     
    The amount of renewables added represents more than the total electricity capacity of Brazil and Japan combined.

    Europe’s capacity grew by 9 per cent – with Germany contributing more than one-quarter of that growth. Africa’s capacity grew by almost 7 per cent.

    All of this is another reminder of a 21st century truth:

    Renewables are renewing economies. 

    They are powering growth, creating jobs, lowering energy bills, and cleaning our air. 
     
    And every day, they become an even smarter investment. 

    Since 2010, the average cost of wind power has plunged 60%.  Solar is 90% cheaper. 

    In 2023, clean energy sectors accounted for five per cent of economic growth in India and six in the US. It accounted for a fifth of China’s GDP growth, and a third of the EU’s.

    The economic case for – and opportunities of – climate action have become ever clearer – particularly for those who choose to lead. 

    And leadership is what we need – as today’s IRENA report shows:

    To accelerate the shift to renewables…

    And to correct the imbalances in the transition, which is still starving developing countries – outside China – of the investment needed to fully embrace clean energy. 

    Excellencies, dear friends,

    As the title of this session puts it so well: we are indeed at a turning point to the future.

    In the ten years since Paris, we have seen other important progress.

    Ninety percent of global emissions are now covered by net-zero targets. 

    A decade ago, the planet was on course for a global temperature rise of over four degrees Celsius.

    Today, countries’ national climate plans – or NDCs – if fully delivered – will take us closer to a 2.6-degree rise.

    At the same time, climate challenges are piling up.  

    It seems records are shattered at every turn — the hottest day of the hottest month of the hottest year of the hottest decade ever. 

    All of this is hitting the vulnerable hardest, and everyday people in their pockets – with higher living costs, higher insurance premiums, and higher food prices.

    Just last week, the World Meteorological Organization confirmed that 2024 was another alarming year:

    Almost every climate indicator reached new and increasingly dangerous heights – inflaming displacement and food insecurity and inflicting huge economic losses.

    And, for the first time, the annual global temperature was 1.5 degrees Celsius hotter than pre-industrial times.

    Scientists are clear – it is still possible to meet the long-term 1.5 degree limit.

    But it requires urgent action. And it requires leadership.

    Excellencies, dear friends,

    I see two critical fronts to drive action. 

    First, new national climate plans – or NDCs – due by September.

    Investors need certainty and predictability.

    These new plans are a unique opportunity to deliver – and lay out a coherent vision for a just green transition.

    They must align with the 1.5-degree limit, as agreed at COP28. And cover all emissions and the whole economy.

    Together, they must reduce global emissions 60% by 2035 – compared to 2019…

    And contribute to the COP28 global energy transition goals.

    All this must be achieved in line with the principle of common but differentiated responsibilities and respective capabilities, in the light of national circumstances but everybody, everybody must do more.

    The G20 – the largest emitters and economies – must lead.

    Every country must step up and play their part.

    The United Nations is with you all.

    President Lula and I are working to secure the highest ambition from the largest economies.

    The United Nations Climate Promise is supporting a hundred countries to prepare their new climate plans.

    And we will convene a special event in September to take stock of the plans of all countries, push for action to keep 1.5 within reach, and deliver climate justice.

    Second, we must drive finance to developing countries.

    The COP29 finance agreement must be implemented in full.

    I count on the leadership of the COP29 and COP30 Presidencies to deliver a credible roadmap to mobilize $1.3 trillion a year by 2035.

    We need new and innovative sources of financing, and credible carbon pricing.

    Developed countries must honour their promise to double adaptation finance to at least $40 billion a year, by this year.

    And we need serious contributions to the fund for responding to Loss and Damage, and to get it up and running.
    Excellencies,

    We can only meet these goals with stronger collaboration – between governments, and across society and sectors.

    Those that will lag behind need to be not a reason for us to be discouraged but an increase in our commitment to move forward.

    The rewards are there for the taking, for all those ready and willing to lead the world through these troubled times.

    We are at a turning point.  I urge you to seize this moment; and seize the prize.

    Thank you.
     

    MIL OSI United Nations News –

  • MIL-OSI USA: 4 College of Engineering Faculty Elected to CASE

    Source: US State of Connecticut

    For being “leading experts in science, technology, engineering, mathematics, and medicine,” the Connecticut Academy of Science and Engineering (CASE) is welcoming four faculty from UConn’s College of Engineering (CoE) into its membership.

    They are among 12 inductees from UConn, and 36 statewide. The new members will be introduced at the Academy’s 50th Annual Dinner on May 28.

    Election to CASE is open to scientists and engineers who work or live in Connecticut based on scientific distinction achieved through significant original contributions in theory or applications, unusual accomplishments in the pioneering of new and developing fields of applied science and technology, or both.

    The 2025 CASE inductees from the CoE include:
    • Omer Khan, professor of electrical and computer engineering

    • Ji-Cheng “JC” Zhao, dean of the College of Engineering; professor of materials science and engineering

    • Guoan Zheng, Collins Aerospace Professor of Engineering Innovation in the Department of Biomedical Engineering; and director of the UConn Center for Biomedical and Bioengineering Innovation

    • Xiao-Dong Zhou, Connecticut Clean Energy Fund Professor in Sustainable Energy; the Nicholas E. Madonna Chair in Sustainability; director of the Center for Clean Energy Engineering; and professor of chemical and biomolecular engineering, materials science and engineering, and mechanical engineering

    “CASE is honored to have these outstanding scientists and engineers join us as we seek to fulfill our mission to provide evidence-based advice to inform policy and promote innovation in Connecticut,” says CASE President Amy Howell.

    Brief bios of the 2025 CASE Fellows are below:

    Omer Khan

    Omer Khan leads the Computer Architecture Group (CAG) and serves as an associate director of the Connecticut Advanced Computing Center (CACC). His research interests include computer architectures and methods that exploit parallelism, locality, resiliency, and privacy suitable for high-performance applications, such as graph intelligence problems. He has contributed architectural advancements for futuristic massively parallel microprocessors that substantially enhance system level performance and efficiency.

    Most recently, Khan and his colleagues took a hardware-architecture-algorithm approach to develop a new system architecture that helps optimize multiple goals at once, like finding the best trade-off between speed and fuel efficiency for autonomous vehicles. They propose Ordered Parallel Multi-Objective Search, or OPMOS, that exploits massive parallelism to achieve huge improvements in performance.

    “OPMOS is a unique approach that brings together algorithmic optimizations and architectural insights to rapidly accelerate these computationally hard multi-objective graph intelligence problems,” Khan explains. “This means exact solutions that used to take hours to generate can be found in seconds. This allows decision-makers to have access to real-time information, leading to better decision-making in high-impact application scenarios.”

    As a complementary research effort, Khan is addressing the computational complexity problem in artificial intelligence applications, such as autonomous systems, social influence, and chip design that must handle increasingly large and sparse graph-based data.

    “Efficient processing of sparse graph problems is extremely challenging since the underlying computations require complex mathematical operations whose processing suffers from performance scaling challenges on existing hardware processing units,” Khan explains. Khan and his colleagues are developing parallel hardware architectures that exploit sparsity for performance to reduce computational complexity without compromising accuracy.

    Prior to joining UConn, Khan spent several years in the semiconductor industry as a high-performance processor architect.

    Khan has a BS in electrical and computer engineering from Michigan State University (2000) and a Ph.D. in electrical and computer engineering from the University of Massachusetts Amherst (2009).

    Ji-Cheng “JC” Zhao

    Ji-Cheng “JC” Zhao is an expert on design of advanced alloys and coatings, additive manufacturing (3D printing) of alloys and composites, high-throughput materials science methodologies, and computational thermodynamics and kinetics. He previously served as a director at the U.S. Department of Energy’s ARPA-E (Advanced Research Projects Agency—Energy), managing approximately $100 million in projects to develop energy-efficient and green technologies.

    Before working in academia and government, Zhao was a senior materials scientist and project leader at General Electric (GE) Research Center where he invented new materials and processes, mostly for gas turbines and jet engines, leading to 48 U.S. patents.

    As dean of engineering at UConn, Zhao is working to expand the College’s research footprint, launch impactful educational programs, and advance relationships with local, national, and international partners.

    Zhao is a member of the National Academy of Engineering and the Fellow of the American Association for the Advancement of Science, the National Academy of Inventors, ASM International, the Materials Research Society, and the Minerals, Metals, and Materials Society.
    Zhao has a BS in materials science and engineering from Central South University in Hunan, China (1985) and a Ph.D. in materials science and engineering from Lehigh University (1995).

    Guoan Zheng

    Guoan Zheng is an expert on biomedical optics and instrumentation, computational imaging, microscopy, and chip-scale imaging. At UConn’s Smart Imaging Laboratory, he leads a team of researchers who are developing a new technique called Synthetic Aperture Ptycho-Endoscopy (SAPE), which achieves outstanding resolution and visibility in endoscopic images. Since its inception in 2013, the laboratory has been supported by NSF, NIH, DOE, Connecticut Innovations, and partnerships with multiple industry leaders.

    Zheng is also the inventor of Fourier ptychography, a transformative microscopy technique that has become a global standard, now widely adopted across numerous laboratories worldwide. The technique is featured as a chapter in the most widely read textbook on Fourier optics.

    He’s also a member of Optica and SPIE, the international society for optics and photonics.

    Zheng holds a BS in electrical engineering from Zhejiang University (2007); and a Ph.D. in electrical engineering from the California Institute of Technology (2013).

    Xiao-Dong Zhou

    Xiao-Dong Zhou is passionate about reducing greenhouse gas emissions through the development of advanced materials and innovative, efficient processes. He’s an expert on nonequilibrium thermodynamics, electrochemistry, thermodynamics and electrochemistry in fuel cells, electrolyzers, and batteries, and studies ways small molecules—such as oxygen, water, carbon dioxide and methane—can be used to create value-added commodities.

    At UConn, Zhou serves as a special advisor on sustainable energies to President Radenka Maric and Vice President for Research Pamir Alpay. In this role, he provides guidance and contributes to the development of sustainable energy strategies and initiatives across the university.

    Zhou currently serves as the technical editor of the Journal of The Electrochemical Society, and an associate editor of the Journal of the American Ceramic Society and the International Journal of Ceramic Engineering and Science. Since 2017, Zhou has secured more than $23 million in grants from the National Science Foundation, NASA, and the Department of Energy.

    Zhou received his BS in chemical engineering from East China University of Science and Technology and his Ph.D. in ceramic engineering from the University of Missouri-Rolla.

    In 2012, CASE elected Pamir Alpay, vice president for research, innovation, and entrepreneurship and professor of materials science and engineering to its membership. He’s among 20 engineering faculty from UConn—including the four new inductees—who are CASE members.

    “We’re thrilled to have Professors Zhao, Zheng, Khan, and Zhou join our membership at the Connecticut Academy of Science and Engineering,” Alpay says. “This achievement is a testament to their contributions to research and innovation, and their dedication to advancing knowledge in engineering fields. Their work continues to inspire excellence within our academic community at the CoE.”

    The CoE faculty are among 12 newly elected CASE members at UConn. One third of all new inductees statewide are UConn faculty. Others 2025 inductees include:

    • Gerald Berkowitz, professor of horticulture, University of Connecticut College of Agriculture, Health and Natural Resources
    • Ming-Hui Chen, department head of statistics; Board of Trustees Distinguished Professor, University of Connecticut College of Liberal Arts and Sciences
    • Jie He, professor of chemistry, University of Connecticut College of Liberal Arts and Sciences
    • Guozhen Lu, professor of mathematics; director of Mathematical Sciences Research Collaboratory, University of Connecticut College of Liberal Arts and Sciences
    • Xiuling Lu, professor of pharmaceutical sciences; associate director of the Kildsig Center for Pharmaceutical Processing Research, University of Connecticut School of Pharmacy
    • Vijay Rathinam, professor of immunology, University of Connecticut Health Center School of Medicine
    • Kumar Venkitanarayanan, professor of animal science; associate dean for Research and Graduate Studies, University of Connecticut College of Agriculture, Health and Natural Resources
    • Jing Zhao, professor of chemistry, University of Connecticut College of Liberal Arts and Sciences

    UConn Engineering continues to have a strong presence in CASE membership. Khan, Zhao, Zheng, and Zhou join 16 other faculty from the College of Engineering who are already members of CASE.

    CASE was chartered by the Connecticut General Assembly in 1976 to provide expert guidance on science and technology to the people and to the state of Connecticut, and to promote the application of science and technology to human welfare and economic well-being.

    For more information about CASE, visit https://ctcase.org.

    MIL OSI USA News –

  • MIL-OSI China: EU unveils strategy to strengthen preparedness against emerging threats

    Source: China State Council Information Office

    The European Commission on Wednesday unveiled the Preparedness Union Strategy, aiming to help the European Union (EU) member states prevent and respond to a wide range of complex threats, from geopolitical tensions to climate-related disasters.

    The strategy targets four main crisis categories: natural disasters, human-induced disasters, hybrid threats and geopolitical crises, according to a Commission press release.

    It outlines 30 key actions and a detailed Action Plan to enhance the EU’s ability to protect its citizens and critical societal functions.

    Under the plan, citizens are encouraged to keep essential supplies on hand for at least 72 hours during emergencies. Preparedness lessons will be incorporated into school curricula, and an EU Preparedness Day will be introduced.

    The EU also aims to boost civil-military cooperation through regular bloc-wide exercises and improved coordination, including the creation of an EU Crisis Hub.

    To boost foresight and anticipation, the EU intends to develop a comprehensive risk and threat assessment, helping avert crises such as natural disasters or hybrid attacks. The Commission said it aims to finalize the first comprehensive EU-wide risk and threat assessment by the end of 2026.

    MIL OSI China News –

  • MIL-OSI China: Spring scenery in Shexian County, China’s Anhui

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

    Spring scenery in Shexian County, China’s Anhui

    Updated: March 26, 2025 17:14 Xinhua
    This photo taken on March 26, 2025 shows the spring scenery at Shitan Village in Shexian County, Huangshan City of east China’s Anhui Province. [Photo/Xinhua]
    Visitors enjoy flowers at Shitan Village in Shexian County, Huangshan City of east China’s Anhui Province, March 26, 2025.[Photo/Xinhua]
    A drone photo taken on March 26, 2025 shows visitors enjoying flowers at Shitan Village in Shexian County, Huangshan City of east China’s Anhui Province.[Photo/Xinhua]
    Visitors take a selfie at Shitan Village in Shexian County, Huangshan City of east China’s Anhui Province, March 25, 2025.[Photo/Xinhua]
    A visitor takes photos of flowers at Shitan Village in Shexian County, Huangshan City of east China’s Anhui Province, March 25, 2025.[Photo/Xinhua]
    This photo taken on March 25, 2025 shows the spring scenery at Shitan Village in Shexian County, Huangshan City of east China’s Anhui Province.[Photo/Xinhua]
    This photo taken on March 26, 2025 shows the spring scenery at Shitan Village in Shexian County, Huangshan City of east China’s Anhui Province.[Photo/Xinhua]
    A drone photo taken on March 26, 2025 shows the spring scenery at Shitan Village in Shexian County, Huangshan City of east China’s Anhui Province.[Photo/Xinhua]
    This photo taken on March 26, 2025 shows the spring scenery at Shitan Village in Shexian County, Huangshan City of east China’s Anhui Province.[Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: People’s lifestyle in harmony with nature in China’s Zhejiang

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

    People’s lifestyle in harmony with nature in China’s Zhejiang

    Updated: March 26, 2025 19:39 Xinhua
    Children fly kites in Qianyuan Town of Huzhou City, east China’s Zhejiang Province, March 20, 2025. In Zhejiang Province, as the temperature rises, people go out of their homes to enjoy the blossoms in the spring time, showing a lifestyle in harmony with nature. [Photo/Xinhua]
    People enjoy leisure time in Yiwu City, east China’s Zhejiang Province, March 25, 2025. [Photo/Xinhua]
    People enjoy themselves amid blooming rapeseed flowers in Mazhu Town of Yuyao, east China’s Zhejiang Province, March 20, 2025. [Photo/Xinhua]
    A tourist poses for photos in a rapeseed flower field in Jiande City, east China’s Zhejiang Province, March 23, 2025. [Photo/Xinhua]
    People introduce local cultural tourism projects in a rapeseed flower field in Jiande City, east China’s Zhejiang Province, March 23, 2025. [Photo/Xinhua]
    Tourists enjoy food in a tent in a rapeseed flower field in Jiande City, east China’s Zhejiang Province, March 23, 2025. [Photo/Xinhua]
    People enjoy spring time at a park in Lucheng District of Wenzhou City, east China’s Zhejiang Province, March 1, 2025. [Photo/Xinhua]
    Tourists pose for photos under blooming cherry trees at a park in Nanhu District of Jiaxing City, east China’s Zhejiang Province, March 25, 2025. [Photo/Xinhua]
    A drone photo taken on March 24, 2025 shows tea stalls under blooming cherry trees at a campus of Dongyang Vocational Education Center School in Dongyang City, east China’s Zhejiang Province. [Photo/Xinhua]
    Students sketch in the fields of blooming rapeseed flowers in Shuangmiao Township of Xianju County in Taizhou, east China’s Zhejiang Province, March 20, 2025. [Photo/Xinhua]
    People enjoy leisure time at a historic block in Nanhu District of Jiaxing City, east China’s Zhejiang Province, March 22, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: Cherry blossoms attract tourists in Gui’an New Area, China’s Guizhou

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

    Cherry blossoms attract tourists in Gui’an New Area, China’s Guizhou

    Updated: March 26, 2025 19:43 Xinhua
    Tourists view cherry blossoms at a cherry garden in Gui’an New Area, southwest China’s Guizhou Province, March 25, 2025. Recently, the 10,000 mu of cherry trees in Gui’an New Area have been in full bloom, attracting many tourists to come and enjoy the spring time. Gui’an New Area has integrated flower appreciation economy with characteristic agriculture, study tour and other forms of business by taking advantage of good ecological resources, an effort to promote tourism development in the surrounding areas and help increase villagers’ income. [Photo/Xinhua]
    Tourists view cherry blossoms at a cherry garden in Gui’an New Area, southwest China’s Guizhou Province, March 25, 2025. [Photo/Xinhua]
    Tourists view cherry blossoms at a cherry garden in Gui’an New Area, southwest China’s Guizhou Province, March 25, 2025. [Photo/Xinhua]
    Tourists view cherry blossoms at a cherry garden in Gui’an New Area, southwest China’s Guizhou Province, March 25, 2025. [Photo/Xinhua]
    An aerial drone photo taken on March 25, 2025 shows tourists viewing cherry blossoms at a cherry garden in Gui’an New Area, southwest China’s Guizhou Province. [Photo/Xinhua]
    An aerial drone photo taken on March 25, 2025 shows tourists viewing cherry blossoms at a cherry garden in Gui’an New Area, southwest China’s Guizhou Province. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: Press conference of BFA Int’l Science, Tech & Innovation Forum held in Hainan

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

    Press conference of BFA Int’l Science, Tech & Innovation Forum held in Hainan

    Updated: March 26, 2025 20:41 Xinhua
    A press conference of the Boao Forum for Asia (BFA) International Science, Technology & Innovation Forum 2025 Hong Kong Conference is held in Boao, south China’s Hainan Province on March 25, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI USA: An Interview with Foreign Law Intern at the Law Library of Congress, Yu-Chen Tsai

    Source: US Global Legal Monitor

    Today’s interview is with Yu-Chen Tsai, a foreign law intern working with Foreign Law Specialist Laney Zhang in the Global Legal Research Center of the Law Library of Congress.

    Describe your background.

    I was born and raised in Tainan, a city in southern Taiwan known for its rich history and delicious street food. With my father being from the Philippines, I grew up in a multicultural environment.

    What is your academic/ professional history?

    I started my legal career in a rather unconventional way. My first formal employment was as an Institutional Review Board (“IRB”) coordinator at a hospital, where I was responsible for formulating a new human subject protection plan for all research involving human participants conducted at the institution. After leaving my position as an IRB coordinator, I continued to serve as an IRB member.

    Seeking broader legal experience from different perspectives, I worked as an in-house counsel in two distinct industries—human resources and manufacturing. In these roles, I conducted contract analyses, assessed the pros and cons of various agreements, and provided senior management with legal advice to support their decision-making processes.

    I hold a bachelor’s degree in law from Soochow University. Following that, I pursued a master’s degree at the College of Law at National Yang Ming Chiao Tung University, where my dissertation focused on the importance of information disclosure regarding adverse drug events during litigation. I recently completed a Master of Laws (LL.M.) program at Columbia Law School in New York and passed the New York bar in 2024.

    How would you describe your job to other people?

    As a foreign law intern at the Global Legal Research Center of the Law Library of Congress, I conduct in-depth legal research and draft memoranda on the legal jurisdictions of China, Hong Kong, Macau, Taiwan, and Singapore in response to Congressional and public inquiries. Additionally, I assist in drafting articles on Taiwan’s legal developments for the Global Legal Monitor.

    Why did you want to work at the Law Library of Congress?

    About 10 years ago, I had the opportunity to visit the Law Library of Congress with my current supervisor, Laney Zhang, as my guide. I told myself then that I would return one day. And here I am. It is truly a blessing to have the opportunity to work and learn alongside so many talented legal experts from different countries and to contribute by sharing legal developments from Taiwan.

    What is the most interesting fact you have learned about the Law Library of Congress?

    I was amazed to learn that there are tunnels beneath the Library of Congress that connect its three buildings, as well as some congressional buildings. I always get lost in this underground maze.

    What’s something most of your co-workers do not know about you?

    I love birds and have nine parrots back home. I also have a passion for flower arrangements and previously ran a small online store in Taiwan.

    Subscribe to In Custodia Legis – it’s free! – to receive interesting posts drawn from the Law Library of Congress’s vast collections and our staff’s expertise in U.S., foreign, and international law.

    MIL OSI USA News –

  • MIL-OSI Economics: Meet your AI Beauty Counselor: K-beauty giant Amorepacific builds an AI app for personalized advice

    Source: Microsoft

    Headline: Meet your AI Beauty Counselor: K-beauty giant Amorepacific builds an AI app for personalized advice

    Traditionally, salespeople at department stores or door-to-door have fulfilled that role. But these experts are scarce online. While beauty influencers abound, they usually promote specific products rather than what consumers want or need. 

    “We want to provide the same level of service that [customers] get offline in the online environment,” Hong said.  

    Hyper-personalization 

    Amorepacific was started 80 years ago by Suh Sungwhan, whose mother, Yun Dokjeong, bottled camellia oil by hand. It was the first Korean company to set up a cosmetics lab in the 1950s and to open a beauty counseling center in the 1960s. Today it is helmed by Suh’s son, Kyungbae Suh, and its well-known brands include Etude, Innisfree and Hera at the entry level, Laneige a step up and Sulwhasoo at the luxury end. 

    Amorepacific products are sold in more than 15 markets, the biggest being Korea, China and the rest of Asia Pacific. It is also making inroads in North America and Europe.  

    The organization was already using AI technology on its online Amore Mall to drive product search, recommendations and skin diagnosis when generative AI burst onto the scene about three years ago.  

    “We saw how we could make it [the online experience] a conversational service,” said Chikook Noh, Amorepacific’s AI Solutions Team Leader.

    Chikook Noh, Amorepacific’s AI Solution Team Leader, sees the app advising first on skincare then on make-up in future. Photo by Seong Joon Cho for Microsoft.

    The AIBC uses OpenAI’s GPT 4o and 4o-mini large language models on Microsoft Azure OpenAI Service to answer customer queries in the app. The underlying data is handled with Data Factory on Microsoft Fabric and AI Search functions in Azure AI Foundry. 

    The AIBC would help overcome a gap with the company’s existing online skin diagnosis tool on Amore Mall, Noh said. Currently consumers answer a series of questions such as “Is your skin oily? (Rate on a scale of 1 to 5)” and take a picture of their faces. It produces an overall score and dispenses advice on skincare and products. 

    This skin diagnosis tool has been used 2.5 million times online and in stores by consumers over the last four years. The IT department noticed an interesting thing – when used online via Amore Mall, “the transition to purchase tends to be on the lower side,” Noh said. But when used in a physical store, “the offline rate is very high because there is a conversation with the sales assistant.” 

    Sion Kim tries out the AI Beauty Counsellor app, which is being launched soon. Photo by Seong Joon Cho for Microsoft.

    The AI app aims to provide the kind of advice that store sales assistants provide to drive sales. Inputs for the AIBC will include consumers’ purchase history, review history as well as online skin diagnosis. The AIBC will then converse with the consumer to determine their current skin status and what their concerns are. 

    The most important thing is the “hyper-personalization. I know you. I know what troubles you have. I know what makes you feel good,” Noh said. 

    Different beauty needs 

    The AIBC development team anticipates interest even from those who don’t use a ton of beauty products. 

    Hyejin Yoon, 35, is at the other end of the consumer spectrum from Kim, the Pilates instructor. A former Chinese teacher for middle and high-schoolers, she now stays home with her one-year-old baby on the outskirts of Seoul. 

    Before the baby, she used various Amorepacific brands like Hera, Primera and Hanyul. Now there’s only time for a face wash, a toner and moisturizing cream from Illiyoon, a fragrance-free brand aimed at people with sensitive skin. She shares the cream with her baby. 

    “I have no time to put on so many steps because of the baby,” she said. 

    Hyejin Yoon is a time-pressed new mother in Seoul who says she would use the AI Beauty Counsellor app to suggest products for her skin. Photo by Seong Joon Cho for Microsoft.

    She noticed how her skin changed when she became a mother. “I feel my skin is getting drier and drier,” she said. “I am tired of having to keep trying different products.” 

    She briefly tried a test version of the AIBC app and said she could see herself using it, especially if it includes facial analysis. 

    The AI Beauty Counselor is Amorepacific’s first public-facing use of generative AI. 

    It follows the organization’s roll out in 2023 of a generative AI chat tool for internal use, also on Microsoft Azure OpenAI Service. That has been used for everything from summarizing medical research articles to creating interior designs for pop-up stores to creating marketing content. 

    Since the AIBC involves interacting with the public, the IT team has also taken pains to anticipate potentially risky subjects such as politics and religion. If a consumer touches on these subjects, the AIBC will reply: “This is a question we cannot answer,” according to Hong. 

    In the future, the goal is for the AIBC to go beyond text to include voice and images and dispense advice not just on skincare but also make-up and health supplements.

    Top Image: Sion Kim, a 26-year-old Pilates instructor, said she would use the AI Beauty Counsellor app to keep up with seasonal trends and what suits her skin type. Photo by Seong Joon Cho for Microsoft. 

    MIL OSI Economics –

  • MIL-OSI Global: Forget booing the anthem, Canada must employ strategic communications to fight Trump’s lies

    Source: The Conversation – Canada – By Matthew Hefler, Senior Research Fellow, Center for Statecraft and Strategic Communication, Stockholm School of Economics

    Since his return to office, United States President Donald Trump has launched a trade war on Canada. The White House has twice set deadlines for the imposition of sweeping 25 pre cent tariffs — and twice pulled back.

    Trump has also threatened to use “economic force” to compel Canada to become the 51st state, remarks that are a focal point of the ongoing federal election campaign.

    Canadians are offended. They’ve voiced this displeasure, with Canadian sports fans continuing to boo the American anthem at recent events.

    This might be counterproductive.

    Trump says Canada is ‘nasty’

    In this trade war, Canada faces more than tariffs: it’s confronting a communications effort by the president to paint Canadians as mean, disrespectful and “nasty.”

    Trump’s most consistent line is that Canadians are “not fair,” “very abusive” and taking advantage of the U.S. on trade.

    Regardless of the truth, the president repeats these allegations over and over and over again.

    The repetition is the point — it’s an important practice in strategic communications or what’s known as StratCom, the use of communication to achieve objectives.

    The repetition is key to Trump’s StratCom — it’s a way of making his message stick. Hard as it is for Canadians to believe this, there’s a danger of this “nasty Canadian” narrative taking hold south of the border.

    Take it from a communications expert who often works in the U.S. and Europe: not everyone is as well-versed on the dispute as Canadians are. Even actions like booing the American anthem risk reinforcing Trump’s slurs against Canada.

    Canada must devise its own strategy to counter Trump’s message and remind Americans — and the world — that Canada trades on fair terms. By dampening American support for the president’s trade war, this StratCom effort could actually help protect the Canada-U.S. relationship for the long term.

    Creating false counter-narratives

    Trump has long mastered the art of swapping one narrative with a preferred alternative. This tactic has arguably helped save his political career.

    For millions of Americans, the president turned Russian interference in the 2016 election into the “Russia Hoax” — something he raised as recently as the infamous Oval Office meeting with Ukrainian President Volodymyr Zelenskyy.

    Rather than concede the 2020 election, Trump and his allies adopted the mantra “Stop the Steal.” And in a most striking StratCom effort, Trump and supporters recast the events of Jan. 6, 2021 at the U.S. Capitol into “a day of love.” Trump also issued a blanket pardon of all those convicted over the attack.

    These are astounding examples of strategic communications, whatever we might think of the president’s honesty or his objectives.

    Every time Trump repeats claims that Canada is taking advantage of the U.S., that narrative becomes further entrenched. So far, Ottawa has reminded Americans that Canada is a good partner and that tariffs would hurt both countries.

    But it’s not clear that appealing to the long Canadian-American history as allies is having much effect in the White House. In early February, Vice President JD Vance posted: “Spare me the sob story about how Canada is our ‘best friend’” and noted Canada’s low defence spending.

    A Canadian StratCom strategy

    The Canadian government therefore must invest in an ambitious campaign of strategic communications. It should drive home that Canadians trade on fair terms and that Canada buys more American goods than China, Japan, the United Kingdom and France combined.

    This StratCom effort must make clear that Canadians can and will be forced to buy elsewhere. It must note that Trump renegotiated a new Canada-U.S.-Mexico trade deal in 2018 and that the agreement was a win for the U.S.

    The campaign can employ humility and humour, but it must reinforce the mutual benefit of trade and make clear that Trump’s anti-Canada comments are not based in reality.

    Some specific claims must be targeted. Trump often notes that Canada has high tariffs on specific American products, like milk. But this can be misleading, as these are part of a negotiated supply control quota system.

    Rather than simply counter Trump’s narrative, the campaign should advance a Canadian one.

    Canadian leaders are starting to recognize this. Before leaving office, Prime Minister Justin Trudeau compared Trump’s treatment of Canada over trade with his conciliatory stance toward Russia over its invasion of Ukraine.

    Former finance minister Chrystia Freeland has underscored the importance of communicating directly to regular Americans. The federal government has paid for anti-tariff ads on digital billboards along key highways in red states, including Florida, Nevada, Georgia, Michigan and Ohio.

    Canadians themselves are in on the act. Decades after Canadian actor and broadcaster Jeff Douglas appeared in the iconic “I am Canadian” commercial, he’s come out with a new rendition.

    “We are Canadian” rejects the president’s “51st State” threats. Its polite but firm tone is the sort of quintessentially Canadian response that should form the basis of a national StatCom effort.

    A new Jeff Douglas ‘We Are Canadian’ video.

    Controlling the narrative

    Given time and space, Trump can reshape the terms of the debate or even perceptions of reality. The Canadian government should therefore lead the way in defending the country’s trading practices and its value as a partner.

    This effort should reflect Canada’s traditional emphasis on respect and decency. Canadians are offended. But they should resist responses like booing another nation’s anthem — especially if it contributes to the president’s effort to paint Canadians as mean or disrespectful.

    The Canada-U.S. relationship will be changed by this experience. But whether the rift is lasting depends in part on whether Canadians believe regular Americans accept or reject the president’s narrative.

    A good communications effort could help Canada counter the president’s StratCom campaign and reduce the longer-term fallout from this unfair attack — no matter the repeated threats and slurs emanating from the Oval Office.

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

    – ref. Forget booing the anthem, Canada must employ strategic communications to fight Trump’s lies – https://theconversation.com/forget-booing-the-anthem-canada-must-employ-strategic-communications-to-fight-trumps-lies-252704

    MIL OSI – Global Reports –

  • MIL-OSI: Turbo Energy Aims to ‘Set the Record Straight’ with Lawsuit Filed Against China-Based Sigenergy, Claiming False Advertising Regarding “World’s First 5-1 Energy Storage System”

    Source: GlobeNewswire (MIL-OSI)

    VALENCIA, Spain, March 26, 2025 (GLOBE NEWSWIRE) — Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today announced that it has filed a lawsuit in the Mercantile Court of Madrid in the Kingdom of Spain against Sigenergy International S.L. in an action for the cessation and rectification of illegal advertising relating to its baseless claim that its product marketed as SigenStor is the “world’s first highly integrated 5-in-1 energy storage system.”

    On June 12, 2023, China-based Sigenergy announced that it was “set to astound the world with its all-scenario energy solution, featuring the world’s first highly integrated 5-in-1 energy storage system,” at the EES Europe industry conference which was held in Munich, Germany that same week. Over the next year, Sigenergy followed with the implementation of a multi-channel promotional campaign, routinely broadcasting its claim to be the “world’s first…” on YouTube, its social media sites, its website and website blog and at industry trade show and conferences.

    By way of the lawsuit, Turbo Energy is alleging that Sigenergy’s promotional statements were blatantly false and misleading, particularly in light of the fact that Turbo Energy has been marketing its patented SUNBOX EV product, a highly integrated, all-in-one energy storage system, since its announced launch on April 22, 2022 and its official debut at the InterSolar Europe industry event held in Europe on May 11-13, 2022 – more than one year ahead of the introduction of SigenStor. 

    Mariano Soria, Chief Executive Officer of Turbo Energy, stated, “While it is our belief that Turbo Energy’s SUNBOX EV may indeed be the world’s first all-in-one energy storage innovation, we know for a fact that Sigenergy’s competing product, SigenStor, is not.  Therefore, we have filed this lawsuit with the objective of compelling Sigenergy to set the record straight by first acknowledging that the promotional statements they have made were unlawful and misleading, by publishing formal corrections in the press and on their website and by agreeing to refrain from continuing its unlawful advertising practices in the future.”

    Continuing, Soria said, “Turbo Energy is a global company defined, guided and inspired by our pioneering spirit, technological innovation and deeply embedded core values. Further, we recognize that we have chosen to pursue leadership in one of the fastest growing sectors of the sustainable energy industry – solar energy storage solutions — which has attracted a wide range of competitors to the space. Turbo Energy actually welcomes competitive pressure, because it serves to challenge us to be that much better and to reach further, faster.  What we don’t appreciate – and will not stand for — are competitors who elect to use deceptive advertising practices to misinform and mislead the customers we are all out there competing to win.”

    About Turbo Energy, S.A.

    Founded in 2013, Turbo Energy is a globally recognized pioneer of proprietary solar energy storage technologies and solutions managed through Artificial Intelligence. Turbo Energy’s elegant all-in-one and scalable, modular energy storage systems empower residential, commercial and industrial users expanding across Europe, North America and South America to materially reduce dependence on traditional energy sources, helping to lower electricity costs, provide peak shaving and uninterruptible power supply and realize a more sustainable, energy-efficient future. A testament to the Company’s commitment to innovation and industry disruption, Turbo Energy’s introduction of its flagship SUNBOX represents one of the world’s first high performance, competitively priced, all-in-one home solar energy storage systems, which also incorporates patented EV charging capability and powerful AI processes to optimize solar energy management. Turbo Energy is a proud subsidiary of publicly traded Umbrella Global Energy, S.A., a vertically integrated, global collective of solar energy-focused companies. For more information, please visit www.turbo-e.com.

    Forward-Looking Statements

    Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding the future of the business of the Company, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control, including the risks described in our registration statements and annual report under the heading “Risk Factors” as filed with the Securities and Exchange Commission. Actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statements contained in this press release speak only as of the date hereof, and Turbo Energy, S.A. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

    For more information, please contact:

    At Turbo Energy, S.A.                                                 
    Dodi Handy, Director of Communications                       
    Phone: 407-960-4636                                                   
    Email: dodihandy@turbo-e.com 

    The MIL Network –

  • MIL-OSI: Red Cat Holdings to Report Financial Results for the 2024 Stub Period (as of December 31, 2024 and the eight months then ended) and Provide Corporate Update on Monday, March 31, 2025

    Source: GlobeNewswire (MIL-OSI)

    SAN JUAN, Puerto Rico, March 26, 2025 (GLOBE NEWSWIRE) — Red Cat Holdings, Inc. (Nasdaq: RCAT) (“Red Cat” or the “Company”), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, announces that financial results for the 2024 Stub Period (as of December 31, 2024 and the eight months then ended) will be reported on Monday, March 31, 2025 at the market close.

    Company management will host an earnings conference call at 4:30p.m. ET on Monday, March 31, 2025 to review financial results and provide an update on corporate developments. Following management’s formal remarks, there will be a question-and-answer session.

    Interested parties can listen to the conference call by dialing 1-844-413-3977 (within the U.S.) or 1-412-317-1803 (international). Callers should dial in approximately ten minutes prior to the start time and ask to be connected to the Red Cat conference call. Participants can also pre-register for the call using the following link: https://dpregister.com/sreg/10198203/fecb0dc7ae

    The conference call will also be available through a live webcast that can be accessed at: https://event.choruscall.com/mediaframe/webcast.html?webcastid=kOCu4DoZ

    A replay of the webcast will be available until April 30, 2025 and can be accessed through the above link or at www.redcatholdings.com. A telephonic replay will be available until April 30, 2025 by calling 1-877-344-7529 (domestic) or 1-412-317-0088 (international) and using access code 4379690.

    About Red Cat Holdings, Inc.

    Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a Family of Systems. This includes the Black Widow™, a small unmanned ISR system that was awarded the U.S. Army’s Short Range Reconnaissance (SRR) Program of Record contract. The Family of Systems also includes TRICHON™, a fixed-wing VTOL for extended endurance and range, and FANG™, the industry’s first line of NDAA-compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at www.redcat.red.

    Forward Looking Statements

    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Form 10-K filed with the Securities and Exchange Commission on July 27, 2023. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law.

    Contact:

    INVESTORS:
    E-mail: Investors@redcat.red

    NEWS MEDIA:
    Phone: (347) 880-2895
    Email: peter@indicatemedia.com

    The MIL Network –

  • MIL-OSI Economics: US, China dominate global robotics VC landscape with around 75% share of investments raised during 2018-2024, reveals GlobalData

    Source: GlobalData

    US, China dominate global robotics VC landscape with around 75% share of investments raised during 2018-2024, reveals GlobalData

    Posted in Business Fundamentals

    The global robotics venture capital (VC) funding landscape has seen cyclical investment patterns between 2018 and 2024, with the US and China emerging as dominant forces. Together, these markets accounted for approximately 75% of global VC funding in robotics, reinforcing their leadership in driving innovation, attracting investor interest, and shaping the future of automation and intelligent systems, according to GlobalData, a leading data and analytics company.

    Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Both the US and China are at the forefront of robotics innovation driven by advancements in technology. As these nations continue to invest heavily in robotics, we can expect to see transformative changes across various industries alongside growing investors’ traction. And as we look ahead to 2024 and beyond, the US and China are likely to remain among the key players, influencing global trends and setting the stage for the next wave of innovation in robotics.”

    The global VC funding landscape in the robotics sector experienced significant fluctuations from 2018 to 2024 with investment value reaching an all-time high in 2021 followed by decline in subsequent years and a rebound again in 2024. The funding landscape faced challenges, particularly evident in 2022 and 2023 with a tougher fundraising atmosphere. However, even though VC investments rebounded in 2024, it is still much lesser compared to 2021 levels. And same is the trend for top markets such as the US and China as well.

    An analysis of GlobalData’s Deals Database revealed that a total of 5,983 VC were announced in the robotics space globally during 2018-2014 with the US leading the charge with 2,028 deals followed by China followed 1,532 deals. This translates to a combined market share of 60% of the global deal volume, underscoring their pivotal roles in the robotics ecosystem.

    Meanwhile, the total VC funding in the robotics space stood at $100.9 billion during 2018-2024 with the US seeing announcement of $49.9 billion worth of deals and China attracting investments worth of $24.4 billion. This translates to a combined market share of around 75% of the global deal value.

    Bose concludes: “As robotics continues to evolve, the investment narrative is shifting towards long-term value creation and cross-sector disruption. With the US and China leading the charge, GlobalData expects sustained momentum in funding activity, paving the way for breakthroughs in intelligent automation and redefining how industries leverage robotics to achieve efficiency, resilience, and innovation.”

    *Coverage includes announced and completed VC deals with exposure to robotics theme.  

    Note: Historic data may change in case some deals get added to previous months because of a delay in disclosure of information in the public domain.

    MIL OSI Economics –

  • MIL-OSI China: Guangdong’s baby boom continues in 2024

    Source: China State Council Information Office 2

    Guangdong Province, south China, retained its position as the country’s most populous province and top fertility area in 2024, official data showed on Wednesday.
    Guangdong, one of China’s economic powerhouses, recorded 1.133 million newborns last year; the seventh consecutive year it has led the nation in births, according to a statistical communique jointly released by the Guangdong provincial bureau of statistics and the Guangdong survey office of the National Bureau of Statistics.
    The province has maintained annual births above 1 million for five years running, underscoring its role as a demographic cornerstone amid China’s nationwide population slowdown.
    By the end of 2024, Guangdong’s permanent resident population reached 127.8 million, an increase of 740,000. The province registered 660,000 deaths, resulting in an added 470,000 people through natural population growth in 2024.

    MIL OSI China News –

  • MIL-OSI Europe: MOTION FOR A RESOLUTION on energy-intensive industries – B10-0199/2025

    Source: European Parliament

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

    B10‑0199/2025

    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 the question to the Commission on energy-intensive industries (O‑000010/2025 – B10‑0000/2025),

    – having regard to Rules 142(5) and 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 –

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on PLTY (100.21%), MARO (75.43%), ULTY (75.27%), MRNY (69.46%), LFGY (61.87%), and Others

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, March 26, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Weekly Payers and Group B ETFs listed in the table below.

    ETF Ticker1 ETF Name Distribution Frequency Distribution per Share Distribution Rate2,4 30-Day
    SEC Yield3    		 ROC5 Ex-Date & Record Date Payment Date
    GPTY YieldMax™ AI & Tech Portfolio Option Income ETF Weekly $0.2787 34.11% 0.00% 98.94% 3/27/25 3/28/25
    LFGY YieldMax™ Crypto Industry & Tech Portfolio Option Income ETF Weekly $0.4749 61.87% 0.00% 0.00% 3/27/25 3/28/25
    QDTY YieldMax™ Nasdaq 100 0DTE Covered Call ETF Weekly $0.2711 – – 55.02% 3/27/25 3/28/25
    RDTY YieldMax™ R2000 0DTE Covered
    Call ETF    		 Weekly $0.3037 – – 100.00% 3/27/25 3/28/25
    SDTY YieldMax™ S&P 500 0DTE Covered Call ETF Weekly $0.2133 – – 0.00% 3/27/25 3/28/25
    ULTY YieldMax™ Ultra Option Income Strategy ETF Weekly $0.0986 75.27% 0.00% 100.00% 3/27/25 3/28/25
    YMAG YieldMax™ Magnificent 7 Fund of Option Income ETFs Weekly $0.0837 27.36% 61.87% 21.53% 3/27/25 3/28/25
    YMAX YieldMax™ Universe Fund of Option Income ETFs Weekly $0.1315 47.15% 85.03% 61.95% 3/27/25 3/28/25
    BABO YieldMax™ BABA Option Income Strategy ETF Every 4 Weeks $0.7578 47.80% 2.36% 0.00% 3/27/25 3/28/25
    DIPS YieldMax™ Short NVDA Option Income Strategy ETF Every 4 Weeks $0.5851 61.41% 2.90% 96.87% 3/27/25 3/28/25
    FBY YieldMax™ META Option Income Strategy ETF Every 4 Weeks $0.5506 39.97% 3.47% 0.00% 3/27/25 3/28/25
    GDXY YieldMax™ Gold Miners Option Income Strategy ETF Every 4 Weeks $0.6394 50.38% 3.08% 0.00% 3/27/25 3/28/25
    JPMO YieldMax™ JPM Option Income Strategy ETF Every 4 Weeks $0.3717 28.32% 3.40% 42.17% 3/27/25 3/28/25
    MARO YieldMax™ MARA Option Income Strategy ETF Every 4 Weeks $1.4783 75.43% 4.21% 95.22% 3/27/25 3/28/25
    MRNY YieldMax™ MRNA Option Income Strategy ETF Every 4 Weeks $0.1827 69.46% 5.01% 94.71% 3/27/25 3/28/25
    NVDY YieldMax™ NVDA Option Income Strategy ETF Every 4 Weeks $0.7874 57.94% 4.02% 100.00% 3/27/25 3/28/25
    PLTY YieldMax™ PLTR Option Income Strategy ETF Every 4 Weeks $5.3257 100.21% 2.63% 97.91% 3/27/25 3/28/25
    Weekly Payers & Group C ETFs scheduled for next week: GPTY LFGY QDTY RDTY SDTY ULTY YMAG YMAX ABNY AMDY CONY CVNY FIAT MSFO NFLY PYPY


    Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling     (833) 378-0717.

    Note: DIPS, FIAT, CRSH and YQQQ are hereinafter referred to as the “Short ETFs”.

    Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

       
    1 All YieldMax™ ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX, YMAG and FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio after the fee waiver of 1.30%. The Advisor has agreed to a fee waiver of 0.10% through at least February 28, 2026.
    2 The Distribution Rate shown is as of close on March 25, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
    3 The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended February 28, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.
    4 Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
    5 ROC refers to Return of Capital. The ROC percentage is the portion of the distribution that represents an investor’s original investment.
       

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Standardized Performance

    For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here. For BIGY, click here. For SOXY, click here. For MARO, click here. For FEAT, click here. For FIVY, click here. For LFGY, click here. For GPTY, click here. For CVNY, click here. For SDTY, click here. For QDTY, click here. For RDTY, click here.

    Important Information

    This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

    YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.

    Risk Disclosures (applicable only to GPTY)

    Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

    Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

    Risk Disclosure (applicable only to MARO)

    Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

    Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, or YieldMax™ ETFs.

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