NewzIntel.com

Category: China

  • MIL-OSI China: Electricity embarks on a new journey, connecting the future with an innovative industrial chain

    Source: China State Council Information Office

    On Feb 17, the staff of the State Grid Jinchang Power Supply Company supported the resumption of work and production, promoting the development of industrial chains in the coal chemical, sulfur-phosphorus chemical, and ammonia-soda chemical industries at Jinchang Chemical Park. They facilitated the upgrading of the circular economy, optimized the layout of the chemical industry across the province, and helped establish a circular chemical industry base in the western region. These initiatives have played a positive role in promoting the high-quality development of the regional economy and society.

    In strengthening the supply chain cluster and accelerating the construction of a modern industrial system, the company focuses on ensuring power supply, optimizing and upgrading services, fostering technological innovation and application, and encouraging collaboration. It provides comprehensive tracking services, establishes a dedicated power service specialist system, conducts regular visits to enterprises, resolves power consumption issues promptly, and synchronously plans the construction of power facilities, ensuring the coordinated advancement of power supply and industrial development.

    To fully establish a significant national base for nickel-cobalt nonferrous metal new materials, a supply hub for new energy batteries and battery materials, and a modern chemical industry base in the western region, the company offers “nanny-style” services. This involves assigning dedicated personnel to assist enterprises “one-on-one” throughout the entire process of handling various formalities. By simplifying business procedures and enhancing efficiency, the company aims to enable “more data to do the legwork, reducing the need for enterprises to run errands”.

    In the journey of serving the development of the new industrial economy, the State Grid Jinchang Power Supply Company always adheres to the concept of placing equal emphasis on innovation and responsibility. From the advanced layout of power facilities, to the precise customization of power supply schemes, and the 24-hour thoughtful operation and maintenance, every link is dedicated to the company’s efforts. In the future, the company will continue to use reliable power as its pen and high-quality service as its ink to draw a grand blueprint for the prosperity and development of the new industrial economy, and make continuous contributions to promoting industrial upgrading and achieving high-quality economic development.

    At the same time, the State Grid Jinchang Power Supply Company has specially organized staff to provide electricity services to enterprises, aiming to help them intuitively grasp their energy consumption situations and tailor “personalized” energy-saving solutions for them. The company conducts a comprehensive understanding of the enterprises’ power consumption capacity, electricity charges, peak and valley electricity consumption, and performs horizontal and vertical comparisons based on the enterprises’ power consumption over the past two years, subsequently proposing corresponding analysis results. It provides enterprises with a power supply “package” encompassing energy conservation, safety and other aspects, and customizes a reasonable power consumption plan according to the power load of the enterprises. Additionally, the company offers “physical examination” services for distribution facilities and electric equipment, assists in eliminating hidden dangers and promotes safety awareness, thereby helping enterprises save energy, reduce expenditure and increase efficiency, while fully ensuring the safe and stable use of electricity.

    MIL OSI China News –

  • MIL-OSI China: Yantai Power Supply boosts Laizhou’s engineering sector

    Source: China State Council Information Office

    In mid-February, as production resumed on a large scale following the Spring Festival break, the Engineering Machinery Industrial Park in Laizhou, a county-level city in Yantai, Shandong province, bustled with activity. The steady electricity supply plays a crucial role in driving this productive momentum.

    Staff members from the Yantai Power Supply under the State Grid has been visiting enterprises to aid in conducting electrical safety inspections, reducing energy consumption and ensuring power reliability for the transformation and advancement of the small engineering machinery industry towards intelligent manufacturing.

    Laizhou stands out as the national hub for small engineering machinery, commanding 70 percent share of the national market, according to statistics from the city government.

    The city’s Shahe town is the major base for engineering machinery equipment production, boasting a comprehensive industrial chain from component processing to complete machine assembly.

    As the urban manufacturing sector transitions towards intelligence and automation, there is a rising demand for electricity. In response to this increasing requirement, Yantai Power Supply has constructed several substations and upgraded 20 kilometers of high and low voltage lines to meet the expanding needs within the city.

    MIL OSI China News –

  • MIL-OSI China: Alibaba Cloud launches first data center in Mexico

    Source: China State Council Information Office

    Alibaba Cloud, the cloud computing arm of Chinese tech giant Alibaba Group, announced the launch of its first data center in Mexico on Wednesday, as the company aims to expand its reach in the global cloud market.

    The new digital infrastructure will provide cloud computing services to businesses and developers across Latin America, underscoring Alibaba Cloud’s commitment to accelerating Mexico’s digital transformation and fostering innovation throughout the region.

    With the addition of this new data center, Alibaba Cloud’s global infrastructure now spans 87 availability zones across 29 regions.

    Selina Yuan, president of international business at Alibaba Cloud Intelligence said, “We are not only bringing cloud technology to support local businesses, but also building an inclusive and thriving ecosystem in Mexico together with local partners, developers and customers to foster innovation, collaboration and sustainable growth across Latin America.”

    Yuan added that by leveraging Alibaba Cloud’s global network, Mexican companies can tap into other markets, especially those in Asia.

    The Mexico facility was launched six days after Alibaba Cloud announced that it will commence operations at its second data center in Thailand to meet the country’s growing demand for cloud services and support generative artificial intelligence applications.

    MIL OSI China News –

  • MIL-OSI China: Tourism industry piggybacks on DeepSeek’s AI prowess, creating new opportunities

    Source: China State Council Information Office

    People who used to spend hours juggling ticketing apps and tourism websites to arrange a travel itinerary can now type a simple description of their plans into an AI platform — such as the latest release from DeepSeek — and their work is done.

    On Jan. 20, roughly a week before this year’s Spring Festival, Chinese AI startup DeepSeek released its latest open-source model R1, which boasts a technological breakthrough in leveraging pure deep learning methods to allow AI to spontaneously emerge with reasoning capabilities.

    With its top-class performance and cost-effectiveness, the DeepSeek-R1 has not only stirred up the tech world, but also gone viral among people from various sectors. Since its launch, the model has also become a new favorite for many travelers to generate their travel plans.

    Take Xi’an, one of China’s most popular travel destinations, as an example. Inputting “a five-day tour to dive deep into historical sites, specialties and folk culture in Xi’an” into DeepSeek-R1 will yield a detailed travel plan instantly, including daily schedules, as well as suitable times and modes of transport to visit every scenic spot and dining choice along the way.

    Zhang Yu, who visited Xi’an with the aid of DeepSeek earlier this month, shared the novel experience with local media. “DeepSeek proved my worries — that unexpected things might ruin the AI-generated travel plan — were completely unnecessary. The trip was so well-planned that I managed to visit all the sites smoothly and seamlessly, and enjoyed every moment of it.”

    Zhao Xinyue, a university student who has posted many Xi’an travel vlogs on the Xiaohongshu lifestyle-sharing platform, echoed Zhang’s view.

    “As a person who cares so much about details, I found that travel plans generated by DeepSeek did a very good job with all the specifics. They not only recommended popular tourist attractions but also presented distinctive niche sites to enrich my travel experience. DeepSeek can also adjust travel plans based on real-time weather and crowd-flow data, which is very helpful,” Zhao said.

    During this year’s Spring Festival, traditionally a bustling holiday season for travel and consumption, cities including Nanjing, Zhanjiang and Weifang kicked off an experiment to generate tourism promotions with DeepSeek on social media. Based on AI-generated content, these posts have introduced local scenic areas, cuisines and cultural heritage to potential travelers, gaining huge traction online.

    “During the early stage of trialing DeepSeek to create content, we found the AI-generated answers were more intelligent and efficiently presented than we expected. It’s helpful for us when we’re writing,” said a social media staff worker promoting culture and tourism of Shaanxi Province.

    DeepSeek also brings new momentum and increased productivity to tourism enterprises. Recently, Chinese online travel platform Mafengwo announced that it has upgraded its smart travel services in Guizhou Province by connecting them with the DeepSeek model.

    Simulating the logical thought process of human beings, the platform factors in various user demands and how different tourist sites correlate, and it also coordinates times, traffic and the physical condition of travelers.

    “This deep integration with DeepSeek not only provides more accurate and personalized services for tourists through AI, but also mirrors the tourism industry’s transformation from traditional algorithm-based recommendations to interpretable, traceable, intelligent decision-making,” according to Mafengwo’s AI project manager. “This has ushered in a new chapter of smart tourism.”

    MIL OSI China News –

  • MIL-OSI New Zealand: Foreign Affairs – New report highlights untapped potential in New Zealand-Viet Nam relationship

    Source: Asia New Zealand Foundation

    The Asia New Zealand Foundation Te Whītau Tūhono is thrilled to launch its latest report Viet Nam and New Zealand at 50: The next chapter. This report explores the growing potential of the bilateral relationship as the two nations celebrate 50 years of formal diplomatic ties.
    Commissioned by the Foundation and authored by Haike Manning, the report builds on the 2020 publication, Viet Nam & New Zealand: Let’s Go, offering fresh insights into Viet Nam’s dynamic environment and celebrating the people who have contributed to the New Zealand – Viet Nam relationship over the last 50 years. 
    “This report is timely, especially with the Prime Minister’s upcoming delegation to Viet Nam. Its insights will be a valuable resource for those who want to learn more about our bilateral relationship,” says Suzannah Jessep, CE of the Foundation.
    “Viet Nam is already our 14th biggest trading partner, with bilateral trade worth NZ$2.68 billion in 2024. Given Viet Nam’s booming economy, the potential for New Zealand businesses, from fashion and food to tech and the arts is huge. We do have a bit of a trade deficit at the moment, but that just means there’s room to grow.”
    The report’s author Haike Manning describes the pace of change in Viet Nam as “remarkable”.
    “It is expected to see some of the fastest income growth in the world over the next decade,” he says.
    “Viet Nam’s increasingly wealthy consumers trust our high quality, safe food, which has underpinned significant growth in our exports to Viet Nam over the past 10 years.”
    Beyond trade, the report also celebrates long-standing ties between the two countries, especially in areas like healthcare, education and diplomacy.
    People-to-people connections are flourishing, with 8,000 Vietnamese visiting New Zealand in 2023 and 40,000 New Zealanders visiting Viet Nam in 2024. New Zealand and Viet Nam also share a commitment to a stable international environment and are actively collaborating on defence and security matters.
    The full report is a great read for anyone looking to understand the incredible opportunities in Viet Nam, from businesses to policymakers, academics and anyone curious about understanding and engaging with this dynamic market.
    Additional Information:
    About the Author
    Haike Manning is the former New Zealand Ambassador to Viet Nam (2012-2016). Haike’s 20-year career as a New Zealand diplomat spanned key global economies (India, Brazil, China, as well as Viet Nam), with a strong focus on supporting trade, business and education outcomes for New Zealand.
    Since 2017, Haike has been based in Ho Chi Minh City, where he founded LightPath Consulting Group, a consulting business supporting international education providers to engage effectively in Viet Nam. In 2021, LightPath was acquired by Acumen, another international education consulting business. Haike subsequently joined Acumen to spearhead their expansion throughout Southeast Asia.
    About the Asia New Zealand Foundation Te Whītau Tūhono
    Established in 1994, the Asia New Zealand Foundation Te Whītau Tūhono is New Zealand’s leading authority on Asia. Its mission is to equip New Zealanders to thrive in Asia, by providing experiences and resources to build knowledge, skills and confidence. The Foundation’s activities cover more than 20 countries in Asia and are delivered through eight core programmes: arts, business, entrepreneurship, leadership, media, research, Track II diplomacy and sports. 

    MIL OSI New Zealand News –

  • MIL-OSI China: Announcement on Open Market Operations No.34 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.34 [2025]

    (Open Market Operations Office, February 20, 2025)

    In order to keep the liquidity adequate in the banking system, the People’s Bank of China conducted reverse repo operations in the amount of RMB125 billion through quantity bidding at a fixed interest rate on February 20, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Volume

    Rate

    7 days

    RMB125 billion

    1.50%

    Date of last update Nov. 29 2018

    2025年02月20日

    MIL OSI China News –

  • MIL-OSI China: Remains of former Chinese Vice Premier Zou Jiahua cremated

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

    BEIJING, Feb. 20 — The remains of Zou Jiahua, a former Chinese vice premier, were cremated in Beijing on Thursday.

    Xi Jinping, along with other Party and state leaders including Li Qiang, Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang, Li Xi and Han Zheng, bid farewell to Zou at the Babaoshan Revolutionary Cemetery on Thursday morning. Zou died on Feb. 16 in Beijing at the age of 99.

    MIL OSI China News –

  • MIL-OSI China: China firmly supports UN’s central role: FM

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

    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with UN Secretary-General Antonio Guterres after chairing a Security Council high-level meeting in New York, Feb. 18, 2025. [Photo/Xinhua]

    UNITED NATIONS, Feb. 19 — China firmly supports the central role of the United Nations and is willing to continue close cooperation with the world body, said Chinese Foreign Minister Wang Yi on Tuesday.

    Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with UN Secretary-General Antonio Guterres after chairing a Security Council high-level meeting.

    Noting that the current international situation is marked by complex changes and escalating geopolitical competition, Wang said that the more turbulent and unstable the world becomes, the more important it is to uphold the authority and role of the United Nations.

    China firmly supports the central role of the United Nations and is ready to continue close cooperation with the world body to practice true multilateralism and advance the cause of world peace and development, he said.

    For his part, Guterres noted that the United Nations attaches great importance to China’s role and fully agrees with and actively supports the three global initiatives proposed by President Xi Jinping.

    In the face of current complex challenges, the United Nations calls on all countries to strengthen cooperation and promote peace and sustainable development, Guterres said.

    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, meets with UN Secretary-General Antonio Guterres after chairing a Security Council high-level meeting in New York, Feb. 18, 2025. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: China to increase credit support for private enterprises: financial regulator

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

    BEIJING, Feb. 20 — China will increase credit support for private enterprises, the country’s financial regulator has said.

    Efforts should be made to maintain a stable and effective increase in credit supply to private enterprises, and to strengthen support for first loans, renewals and credit loans to small and micro companies, the National Financial Regulatory Administration said in a statement on its website.

    The statement came after the administration held a meeting to study the key points and arrangements of a high-level symposium on private enterprises.

    The administration called for strengthening the role of technology in empowering inclusive finance to effectively meet the financing needs of private enterprises.

    The banking and insurance industries will be guided to make financial services for private enterprises more practical and refined, said the administration.

    In terms of market access in the financial industry, enterprises under all types of ownership will be treated equally and fairly, according to the administration.

    MIL OSI China News –

  • MIL-OSI: SBM Offshore Full Year 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    Amsterdam, February 20, 2025

    Record-level results, increasing total shareholder returns

    Highlights

    • Record Directional1 Revenue of US$6.1 billion (+35%), in line with guidance
    • Record Directional EBITDA of US$1.9 billion (+44%), in line with guidance
    • Record US$35.1 billion Directional backlog; US$9.5 billion or EUR51.6/share2 Directional net cash backlog3
    • 30% increase in cash return to US$1.59 per share4: US$155 million dividend5; US$150 million share repurchase6
    • US$1.7 billion cash return to shareholders over the coming 6 years
    • 2025 Directional Revenue guidance of above US$4.9 billion
    • 2025 Directional EBITDA guidance of around US$1.55 billion
    • Completion of FPSO Prosperity and Liza Destiny sales in Q4 2024
    • FPSO Almirante Tamandaré achieved first oil on February 15, 2025

    SBM Offshore’s 2024 Annual Report can be found on its website under: Annual Reports – SBM Offshore

    Øivind Tangen, CEO of SBM Offshore, commented:
            
    “SBM Offshore has delivered excellent results in 2024 with a record-level directional revenue of US$6.1 billion and record-level directional EBITDA of US$1.9 billion, reflecting three new awards and the purchases of FPSOs Prosperity and Liza Destiny by ExxonMobil Guyana. Thanks to the addition of three new awards, we ended the year with a record US$35.1 billion backlog. From this we expect to generate US$9.5 billion net cash, equivalent to almost 52 euro per share2. Based on this strong performance, we are increasing our fixed cash return by 30% to US$1.59 per share4 through a proposed US$155 million dividend5 and US$150 million share repurchase6 program. At this level we will deliver a minimum US$1.7 billion cash return to shareholders over the next 6 years.

    Our Fast4Ward® program is setting the pace for deepwater developments. FPSO Almirante Tamandaré achieved first oil on February 15, 2025. This vessel, which benefits from emission reduction technologies, is the largest operating unit in Brazil. Two additional units are on track to achieve first oil in 2025. First, FPSO Alexandre de Gusmão which sailed-away at the end of 2024, followed by FPSO ONE GUYANA. These three units have a combined capacity of 655,000 barrels of oil per day. With these achievements, we are further de-risking our construction portfolio.

    We strive for excellence both in terms of project execution and asset management. Our lifecycle approach in the FPSO market is unique and the focus on continuous improvement is setting a strong foundation for success. The outlook for new deepwater projects is strong given their low break-even prices and low emission intensity. In the next three years, we see 16 projects in the
    Company’s core market of large and complex FPSOs, driven by the promising prospects in Brazil, Guyana, Suriname and Namibia. We have ordered our 10th MPF hull giving us two hulls to support tendering activities. We will remain disciplined in selecting the highest quality projects.

    As the world’s ocean-infrastructure expert we are using our experience to further diversify and decarbonize the solutions we offer. In 2024, we created a joint venture, Ekwil, with Technip Energies to enhance our floating offshore wind product offering, and in early 2025 we completed a minority equity investment in Ocean-Power to offer lower-emission power solutions. We are now able to offer a market ready near-zero emission FPSO and were recently awarded a contract by Petrobras to qualify SBM’s Carbon Capture Module technology for FPSOs.”

    Financial Overview7

        Directional   IFRS
                     
    in US$ million   FY 2024 FY 2023 % Change   FY 2024 FY 2023 % Change
    Revenue   6,111 4,532 35%   4,784 4,963 -4%
    Lease and Operate   2,369 1,954 21%   2,074 1,563 33%
    Turnkey   3,743 2,578 45%   2,710 3,400 -20%
    EBITDA   1,896 1,319 44%   1,041 1,239 -16%
    Lease and Operate   1,261 1,124 12%   842 695 21%
    Turnkey   724 296 145%   287 646 -56%
    Other   (89) (101) -12%   (88) (101) -13%
    Profit attributable to Shareholders   907 524 73%   150 491 -69%
    Earnings per share (US$ per share)   5.08 2.92 74%   0.84 2.74 -69%
                     
    in US$ billion   FY 2024 FY 2023 % Change   FY 2024 FY 2023 % Change
    Pro-forma Backlog   35.1 30.3 16%   – – –
    Net Debt   5.7 6.7 -15%   8.1 8.7 -7%

    Directional revenue increased by 35% to US$6,111 million compared with US$4,532 million in 2023. This increase is driven by the Directional Turnkey revenue which rose to US$3,743 million in 2024 compared with US$2,578 million in 2023. This 45% increase stems from (i) the sale of FPSOs Prosperity and Liza Destiny completed respectively in November and December 2024, (ii) the progress on awarded contracts for the FPSOs Jaguar and GranMorgu, (iii) the 13.5% divestment to CMFL completed in October 2024, and (iv) the increased support to the fleet through brownfield projects. This increase was partly offset by a reduction in charter revenues following (i) the sale of FPSO Liza Unity in November 2023, (ii) the completion of FPSO Prosperity during the last quarter of 2023 as well as a delay in the start-up of FPSO Sepetiba early 2024, and (iii) a comparatively lower level of progress on both FPSOs Almirante Tamandaré and Alexandre de Gusmão as those projects approached completion in 2024.

    Directional Lease and Operate revenue stood at US$2,369 million compared with US$1,954 million in the year-ago period. This 21% increase mainly reflects (i) FPSO Prosperity joining the fleet during the last quarter of 2023 and Sepetiba joining the fleet in January 2024, (ii) a higher contribution of FPSOs N’Goma, Saxi Batuque and Mondo following the acquisition of interests held by Sonangol mid-2024, and (iii) an increase in reimbursable scope. This was partly offset by FPSO Liza Unity only contributing in 2024 as an operating contract following the purchase of the unit by ExxonMobil Guyana at the end of 2023.

    Directional EBITDA amounted to US$1,896 million, which is a 44% year-on-year increase compared with US$1,319 million in 2023. This was mostly attributable to the Turnkey segment which increased by over US$400 million to US$724 million in 2024. Directional Turnkey EBITDA was mainly impacted by (i) the same drivers as for Directional Turnkey revenue (except that being at relative early stages of completion, FPSO Jaguar only contributed marginally to Turnkey EBITDA and FPSO GranMorgu not at all), and (ii) a reduced investment on Floating Offshore Wind projects following the implementation of Ekwil Joint Venture in partnership with Technip Energies.

    Directional Lease and Operate EBITDA stood at US$1,261 million for the year-ended 2024 compared with US$1,124 million in the previous year. The 12% increase reflects (i) the same key factors as for Directional Lease and Operate revenue, (ii) the net gain on the acquisition of interests held by Sonangol in 3 FPSOs and the divestment in the parent company of the Paenal shipyard in Angola, and (iii) the dividends related to FPSO N’Goma partially offset by (iv) additional non-recurring maintenance costs for the fleet under operation.

    The other non-allocated costs charged to EBITDA amounted to US$(89) million in 2024, a US$(12) million improvement compared with the previous period mainly due to the one-off impact of US$11 million of restructuring costs in 2023.

    During the last quarter of 2024, the Company performed a review of revised estimates of cash flow, maintenance and repair costs. Based on this analysis, actual values and future cash flows related to FPSO Cidade de Anchieta were re-estimated leading to an impairment charge of US$(39) million, accounted for in the 2024 results.

    Directional net profit increased by over 70% standing at US$907 million in 2024, or US$5.08 per share, mainly reflecting the increase in Directional EBITDA.

    Liquidity, Funding and Directional Net Debt

    The Company’s financial position has remained strong as a result of the cash flow generated by the fleet, as well as the positive contribution of the Turnkey activities.

    Directional Net debt decreased by US$(936) million to US$5,719 million at year-end 2024. This was driven by the repayment of the FPSOs Prosperity and Liza Destiny financings, the proceeds from the sale of the vessels and the Lease and Operate segment’s strong operating cash flow. This was partially offset by drawings on project financing facilities to fund the construction portfolio. The Company drew on the project finance facilities for FPSO ONE GUYANA, FPSO Almirante Tamandaré and FPSO Alexandre de Gusmão; additionally, the US$1.5 billion construction financing for FPSO Jaguar was signed and partly drawn in November 2024.

    More than a third of the Company’s Directional debt for the year-ended 2024 consisted of non-recourse project financing (US$2.2 billion) in special purpose investees. The remainder (US$4 billion) consisted mainly of borrowings to support the ongoing construction of 3 FPSOs which will become non-recourse following achievement of first oil. The project loan for FPSO Jaguar will be repaid following completion of construction. The Company’s RCF was drawn for US$500 million as at December 31, 2024 and the Revolving Credit Facility for MPF hull financing was drawn for US$89 million.

    Directional cash and cash equivalents amounted to US$606 million and lease liabilities totaled US$93 million at December 31, 2024.

    Cash and undrawn committed credit facilities amount to US$2,639 million at December 31, 2024.

    Directional Pro-Forma Backlog

    Change in ownership scenarios and lease contract duration have the potential to significantly impact the Company’s future cash flows, net debt balance as well as the profit and loss statement. The Company therefore provides a pro-forma Directional backlog based on the best available information regarding ownership scenarios and lease contract duration for the various projects.

    The pro-forma Directional backlog at the end of December 2024 increased by US$4.8 billion to a total of US$35.1 billion. This was mainly the result of (i) the FPSO Jaguar contract awarded in April 2024, (ii) the FSO Trion contract awarded in August 2024, and (iii) the FPSO GranMorgu contract awarded in November 2024, partially offset by (iv) turnover for the period which consumed approximately US$6.1 billion of backlog (including the sale of FPSO Prosperity completed in November 2024 and the sale of FPSO Liza Destiny completed in December 2024, in advance of the initial lease terms which were respectively in November 2025 and in December 2029), and (v) the 13.5% divestment to CMFL completed in October 2024, which was not reflected in the pro-forma Directional backlog end of 2023. The Company’s backlog provides cash flow visibility up to 2050.

    in US$ billion   Turnkey Lease & Operate Total
    2025   2.6 2.3 4.9
    2026   1.6 2.6 4.2
    2027   3.3 2.1 5.4
    Beyond 2028   0.2 20.3 20.5
    Total pro-forma Directional backlog   7.7 27.3 35.1

    The pro-forma Directional backlog at the end of 2024 reflects the following key assumptions:

    • The FPSO ONE GUYANA contract covers a maximum lease period of 2 years, within which the ownership of the FPSO will transfer to the client. The impact of the subsequent sale is reflected in the Turnkey backlog.
    • The FPSO Jaguar contract awarded to the Company in April 2024 covers the construction period within which the FPSO ownership will transfer to the client and is reported in the Turnkey backlog.
    • 10 years of operations and maintenance are considered for FPSOs Liza Destiny, Liza Unity, Prosperity and ONE GUYANA following signature of the Operations & Maintenance Enabling Agreement in 2023. Regarding FPSO Jaguar, the pro-forma Directional backlog includes the operating and maintenance scope for 10 years as it has been agreed in principle, pending a final work order. This is consistent with prior years.
    • The FPSO GranMorgu contract awarded to the Company in November 2024 covers the construction period within which the FPSO ownership will transfer to the client and is reported in the Turnkey backlog.
    • The FSO Trion contract awarded to the Company in August 2024 is considered for 20 years in lease and operate contracts at the Company ownership share at year-end (100%).
    • The transaction with MISC Berhad related to the FPSO Espírito Santo and FPSO Kikeh announced on September 6, 2024, and completed on January 31, 2025, has been reflected in the pro-forma Directional backlog.

    Project Review and Fleet Operational Update

    Project Client/Country Contract SBM Share Capacity, Size Percentage of Completion Project delivery
    FPSO Alexandre de Gusmão Petrobras
    Brazil    		 22.5-year L&O 55% 180,000 bpd >75% 2025
    FPSO ONE GUYANA ExxonMobil
    Guyana    		 2-year BOT 100% 250,000 bpd >75% 2025
    FPSO Jaguar ExxonMobil
    Guyana    		 Sale & Operate 100% 250,000 bpd >25% <50% 2027
    FSO Trion Woodside 20-year Lease 100% n/a <25% n/a8
    FPSO GranMorgu TotalEnergies Sale & Operate 52% 220,000 bpd <25% 2028

    Projects are on track with one major delivery achieved in early 2025. After successful completion of the offshore commissioning activities, FPSO Almirante Tamandaré achieved first oil on February 15, 2025. An update on the individual ongoing projects is provided below considering the latest known circumstances.

    FPSO Alexandre de Gusmão – In December 2024, the vessel safely departed from the yard in China after successful completion of the onshore topsides’ integration and commissioning phase. The FPSO is on its way to Brazil. First oil is expected mid-2025.

    FPSO ONE GUYANA – Integration activities are completed and project teams are finalizing commissioning activities. First oil is expected in the second half of 2025.

    FPSO Jaguar – The Fast4Ward® MPF hull has been safely delivered and arrived in Singapore in preparation for the remaining vessel activities. The topside modules fabrication in Singapore continues as planned. First oil is expected in 2027.

    FSO Trion – Engineering and procurement are progressing in line with project schedule.

    FPSO GranMorgu – The Fast4Ward® MPF hull has been safely delivered. Engineering and procurement are progressing in line with project schedule.

    Fast4Ward®MPF hulls – Under the Company’s successful Fast4Ward® program, the 10th MPF hull has been ordered. 4 Fast4Ward® MPF hulls are in operation, another 4 allocated to projects and 2 reserved as part of tendering activities driven by the strong FPSO market outlook.

    Contract extension – The Company has agreed a contract extension related to the lease and operation of FPSO Saxi Batuque up to June 2026.

    Fleet Uptime – The fleet’s uptime was 95.9% in 2024.

    Safety and Sustainability

    Safety – The Total Recordable Injury Frequency Rate (“TRIFR”) year-to-date was 0.10, 17% below the yearly target of below 0.129, notwithstanding the high level of activity.

    Fleet emissions – For 2024, the Company set a target to further optimize operational excellence on the FPSOs for which it provides operations and maintenance services amounting to a maximum absolute volume of gas flared below 1.57 mmscft/d as an overall FPSO fleet average during the year. As of December 31, 2024, SBM Offshore outperformed this target with the actual being 1.33 mmscft/d, a 15% improvement compared with 2024 target and mainly driven by a continued focus on reducing the number of unplanned events in its operated fleet.

    Sustain-2 Notation – FPSO Liza Unity is the 1st FPSO which has received a Sustain-2 Notation by American Bureau of Shipping. This sustainability certificate recognizes the Company’s efforts in minimizing environmental impacts over the lifecycle of the FPSO including the use of low carbon technologies as well as the focus on workers’ wellbeing.

    ESG ratings – In recognition of the Company’s continued focus on sustainability, MSCI has improved SBM Offshore’s rating from AA in 2023 to AAA in 2024 and Sustainalytics included the Company in its 2024 ESG Industry Top Rated, with the Company ranking 2nd out of 106 industry peers.

    Sustainable recycling – The Deep Panuke Production Field Center recycling project reached completion in Nova Scotia, Canada, in early 2024 with 97% of the waste materials were sold, recycled or reused and the remainder 3% was safely disposed of. As for the FPSO Capixaba project, following the handover to M.A.R.S., the Company continues to monitor the safe execution of the decommissioning which is expected to reach completion in 2026.

    Blue Economy

    SBM Offshore is a blue economy company aiming to manage ocean resources for economic growth while preserving ecosystems. Using its deepwater expertise, the Company is advancing technologies focusing on decarbonizing and diversifying its ocean infrastructure solutions. Ranging from floating offshore wind to offshore hydrogen and ammonia, SBM Offshore remains selective and disciplined in developing innovative solutions and investing in new ocean infrastructure solutions.

    Provence Grand Large – The three floating offshore wind turbines that were installed by SBM Offshore at the end of 2023 for the Provence Grand Large project, jointly owned by EDF Renewables and Maple Power, were fully commissioned and started production in 2024.

    Floventis Energy Ltd – In December 2024, SBM Offshore reached an agreement with Cierco Energy to sell its shares in the joint venture company Floventis Energy Ltd, thus transferring the ownership of both Cademo and Llŷr Floating Wind projects to Cierco Energy. As planned, following the advancement of these pioneering projects and acquiring valuable knowledge in the offshore wind market, the Company will continue to concentrate its efforts on the remaining two larger scale projects in its portfolio.

    emissionZERO®program – SBM Offshore continues to address FPSO emissions reduction through its emissionZERO® program and is offering a market-ready near zero emission FPSO for 2025, featuring advanced technologies such as carbon capture, combined cycle gas turbines and deepwater intake risers.

    Carbon Capture Module – SBM Offshore has been awarded a contract by Petrobras to qualify SBM’s Carbon Capture Module technology for FPSOs. The Carbon Capture Module for post combustion removal of CO2 from gas turbine exhaust gasses on FPSO’s has been developed in partnership with Mitsubishi Heavy Industries, Ltd.

    Blue Power Hub – With the aim to decarbonize the offshore power generation sector, SBM Offshore signed in December 2024 an investment agreement with the Norwegian company Ocean-Power AS to develop and commercialize offshore power generation units with CO2 capture and storage. This investment has been completed in early 2025.

    Capital allocation and Shareholder Returns

    The Company’s shareholder returns policy is to maintain a stable annual cash return to shareholders which grows over time, with flexibility for the Company to make such cash return in the form of a cash dividend and the repurchase of shares. Determination of the annual cash return is based on the Company’s assessment of its underlying cash flow position. The Company prioritizes a stable cash distribution to shareholders and funding of growth projects, with the option to apply surplus capital towards incremental cash returns to shareholders.

    As a result, following review of its cash flow position and forecast, the Company intends to pay US$1.59 per share through a proposed US$155m dividend5 (EUR150 million equivalent or US$0.88 per share4) and US$150 million (EUR141 million equivalent) share repurchase program6. This represents an increase of 30% compared with 2024. The objective of the share buyback program would be to reduce share capital and provide shares for regular management and employee share programs (maximum US$25 million). Shares repurchased as part of the cash return will be cancelled.

    The share repurchase program will be launched after the current share repurchase program has ended. The dividend will be proposed at the Annual General Meeting on April 9, 2025.

    Guidance

    The Company’s 2025 Directional revenue guidance is above US$4.9 billion of which above US$2.2 billion is expected from the Lease and Operate segment and around US$2.7 billion from the Turnkey segment.

    2025 Directional EBITDA guidance is around US$1.55 billion for the Company.

    Conference Call

    SBM Offshore has scheduled a conference call together with a webcast, which will be followed by a Q&A session, to discuss the Full Year 2024 Earnings release.

    The event is scheduled for Thursday February 20, 2025, at 10.00 AM (CET) and will be hosted by Øivind Tangen (CEO) and Douglas Wood (CFO).

    Interested parties are invited to register prior the call using the link: Full Year 2024 Earnings Conference Call

    Please note that the conference call can only be accessed with a personal identification code, which is sent to you by email after completion of the registration.

    The live webcast will be available at: Full Year 2024 Earnings Webcast

    A replay of the webcast, which is available shortly after the call, can be accessed using the same link.

    Corporate Profile

    SBM Offshore is the world’s deepwater ocean-infrastructure expert. Through the design, construction, installation, and operation of offshore floating facilities, we play a pivotal role in a just transition. By advancing our core, we deliver cleaner, more efficient energy production. By pioneering more, we unlock new markets within the blue economy.

    More than 7,800 SBMers collaborate worldwide to deliver innovative solutions as a responsible partner towards a sustainable future, balancing ocean protection with progress.

    For further information, please visit our website at www.sbmoffshore.com.

    Financial Calendar   Date Year
    Annual General Meeting   April 9 2025
    First Quarter 2025 Trading Update   May 15 2025
    Half Year 2025 Earnings   August 7 2025
    Third Quarter 2025 Trading Update   November 13 2025
    Full Year 2025 Earnings   February 26 2026

    For further information, please contact:

    Investor Relations

    Wouter Holties
    Corporate Finance & Investor Relations Manager

    Media Relations

    Giampaolo Arghittu
    Head of External Relations

    Market Abuse Regulation

    This press release may contain inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    Disclaimer

    Some of the statements contained in this release that are not historical facts are statements of future expectations and other forward-looking statements based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those in such statements. These statements may be identified by words such as ‘expect’, ‘should’, ‘could’, ‘shall’ and / or similar expressions. Such forward-looking statements are subject to various risks and uncertainties. The principal risks which could affect the future operations of SBM Offshore N.V. are described in the ‘Impacts, Risks and Opportunities’ section of the 2024 Annual Report.

    Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results and performance of the Company’s business may vary materially and adversely from the forward-looking statements described in this release. SBM Offshore does not intend and does not assume any obligation to update any industry information or forward-looking statements set forth in this release to reflect new information, subsequent events or otherwise.

    This release contains certain alternative performance measures (APMs) as defined by the ESMA guidelines which are not defined under IFRS. Further information on these APMs is included in the 2024 Annual Report, available on our website Annual Reports – SBM Offshore.

    Nothing in this release shall be deemed an offer to sell, or a solicitation of an offer to buy, any securities. The companies in which SBM Offshore N.V. directly and indirectly owns investments are separate legal entities. In this release “SBM Offshore” and “SBM” are sometimes used for convenience where references are made to SBM Offshore N.V. and its subsidiaries in general. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

    “SBM Offshore®“, the SBM logomark, “Fast4Ward®”, “emissionZERO®” and “F4W®” are proprietary marks owned by SBM Offshore.

    1 Directional reporting, presented in the Financial Statements under section 4.3.2 Operating Segments and Directional Reporting, represents a pro-forma accounting policy, which treats all lease contracts as operating leases and consolidates all co-owned investees related to lease contracts on a proportional basis based on percentage of ownership. This explanatory note relates to all Directional reporting in this document.
    2 Based on the number of shares outstanding and exchange rate EUR/US$ of 1.039 at December 31, 2024.

    3 Reflects a pro-forma view of the Company’s Directional backlog and expected net cash from Turnkey, Lease and Operate and Build Operate Transfer sales after tax and debt service.
    4 Based on the number of shares outstanding at December 31, 2024. Dividend amount per share depends on number of shares entitled to dividend.
    5 Equivalent of EUR150 million based on the EUR/US$ exchange rate on February 11, 2025. Dividends will be paid in Euro provided that the minimum Euro dividend shall amount to EUR150 million.
    6 Including maximum US$25 million for management and employee share plans.

    7 Numbers may not add up due to rounding.
    8 Project delivery not disclosed by the client.

    9 Measured per 200,000 work hours.

    Attachment

    The MIL Network –

  • MIL-OSI: Aegon reports second half year 2024 results

    Source: GlobeNewswire (MIL-OSI)

    The Hague – February 20, 2025. Please click here to access all 2H 2024 results related documents. 

    2H 2024 IFRS results

    • Net profit of EUR 741 million as operating result and benefit from the a.s.r. stake are partly offset by restructuring charges and net impairments in the US
    • Operating result of EUR 776 million, up 14% compared with the second half of 2023, reflecting improved experience variance in the US and business growth in the US and asset management
    • Shareholders’ equity per share of EUR 4.53, increases by 13% compared with June 30, 2024, while contractual service margin per share after estimated tax adjustment increases by 5% to EUR 4.38. Valuation equity per share – the sum of these components – grew by 9% to EUR 8.91

    2H 2024 capital generation, cash and capital management

    • Operating capital generation before holding funding and operating expenses remained broadly stable at EUR 658 million compared with the second half of 2023. Aegon meets its increased guidance of EUR 1.2 billion for 2024
    • Capital ratios of Aegon’s main units remain above their respective operating levels and Cash Capital at Holding at EUR 1.7 billion per year-end 2024. EUR 200 million share buyback completed in December
    • Free cash flow of EUR 385 million, which includes capital distributions from a.s.r. Full-year free cash flow of EUR 759 million meets guidance of more than EUR 700 million
    • 2024 final dividend of EUR 0.19 per common share proposed, an increase of 19% compared with 2023 final dividend

    Lard Friese, Aegon CEO, commented:  
    In 2024, we continued to make good progress with our transformation and are on track to meet the 2025 targets we laid out at our 2023 Capital Markets Day (CMD). We will provide an update on our strategy and new group targets at our next CMD on December 10, 2025, in London. Looking back on the year, I am proud of what the teams achieved, and I am grateful for their hard work.

    We have delivered on both our increased guidance for operating capital generation (OCG) of EUR 1.2 billion, and on our free cash flow guidance of more than EUR 700 million for 2024. Our main business units remained well capitalized, and we have generated a full year IFRS operating result of EUR 1.5 billion. Our valuation equity per share, which is a measure of shareholder value, increased by 12% to EUR 8.91.

    We continued to execute our strategy to grow our businesses and improve the service we offer to customers. This included the roll-out of a new brand identity across our fully owned units that facilitates improved digital customer experiences. Taking a closer look at our commercial performance in 2024: in the Americas, we strengthened our distribution capabilities as World Financial Group (WFG) grew its number of licensed agents to over 86,000, up 17% compared with the prior year. This contributed to the 22% increase in the operating result of Transamerica’s distribution segment, which reached USD 191 million. Transamerica generated Individual Life sales of USD 473 million, slightly down compared with 2023. The Retirement Plans business experienced outflows but the mid-sized Retirement Plans business continued to grow with strong written plan sales and USD 557 million of net deposits. Throughout the year, we also continued to implement management actions to reduce our exposure to Financial Assets. This included achieving the goals of our program to purchase universal life policies from institutional owners earlier than anticipated.

    In the United Kingdom, we are executing the strategy we presented at our June 2024 Teach-In. Our UK Workplace platform performed strongly, with net deposits amounting to GBP 3.7 billion in 2024, due to the onboarding of new schemes and higher regular contributions from existing schemes. While outflows continued in our UK Adviser platform, we are executing our strategy to return the platform to growth by 2028 that includes targeting the top 500 financial adviser firms.

    2024 saw our Asset Management business return to growth, with third-party net deposits in Global Platforms and net deposits in Strategic Partnerships combined totaling around EUR 14 billion. This was driven by consecutive net deposits at both businesses during each quarter of 2024.

    Our International business saw 15% lower new life sales, mainly driven by pricing actions in China to reflect lower interest rates. At the same time, its value of new business grew by 18%, driven by Brazil and Spain & Portugal, underscoring our focus on profitable growth.

    Over the year, we remained disciplined in our management of capital. During the first half of 2024, we completed the EUR 1.535 billion share buyback program. In the second half, we completed a EUR 200 million share buyback program and announced a new EUR 150 million share buyback program, which began in January 2025.

    On the basis of our 2024 performance, we today propose a final dividend of 19 eurocents per share. This will result in a total dividend paid for the full-year 2024 of 35 eurocents, up 17% compared with 2023, and means we are on our way to achieve our target of around 40 eurocents per share over 2025.

    Additional information 
    Presentation
    The conference call presentation is available on aegon.com.

    Supplements
    Aegon’s second half 2024 Financial Supplement and other supplementary documents are available on aegon.com.

    Webcast and conference call including Q&A
    The webcast and conference call starts at 9:00 am CET. The audio webcast can be followed on aegon.com. To join the conference call and/or participate in the Q&A, you will need to register via the following registration link. Directly after registration you will see your personal pin on the confirmation screen, and you will also receive an email with the call details and your personal pin to enter the conference call. The link becomes active 15 minutes prior to the scheduled start time. To avoid any unforeseen connection issues, it is recommended to make use of the “Call me” option. Approximately two hours after the conference call, a replay will be available on aegon.com. 

    Click to join
    With “Call me”, there’s no need to dial-in. Simply click the following registration link and select the option “Call me”.
    Enter your information and you will be called back to directly join the conference. The link becomes active 15 minutes prior to the scheduled start time. Should you wish not to use the “Click to join” function, dial-in numbers are also available. For passcode: you will receive a personal pin upon registration.

    Dial-in numbers for conference call:
    United States: +1 864 991 4103 (local)
    United Kingdom: +44 808 175 1536 (toll-free)
    The Netherlands: +31 800 745 8377 (toll-free); or +31 970 102 86838 (toll)

    Financial calendar 2025
    First quarter 2025 trading update – May 16, 2025
    Annual General Meeting – June 12, 2025
    Second half 2025 results – August 21, 2025
    Third quarter 2025 trading update – November 13, 2025
    Capital Markets Day – December 10, 2025

    About Aegon
    Aegon is an international financial services holding company. Aegon’s ambition is to build leading businesses that offer their customers investment, protection, and retirement solutions. Aegon’s portfolio of businesses includes fully owned businesses in the United States and United Kingdom, and a global asset manager. Aegon also creates value by combining its international expertise with strong local partners via insurance joint ventures in Spain & Portugal, China, and Brazil, and via asset management partnerships in France and China. In addition, Aegon owns a Bermuda-based life insurer and generates value via a strategic shareholding in a market leading Dutch insurance and pensions company.

    Aegon’s purpose of helping people live their best lives runs through all its activities. As a leading global investor and employer, Aegon seeks to have a positive impact by addressing critical environmental and societal issues, with a focus on climate change and inclusion & diversity. Aegon is headquartered in The Hague, the Netherlands, domiciled in Bermuda, and listed on Euronext Amsterdam and the New York Stock Exchange. More information can be found at aegon.com. More information can be found at aegon.com.

    Contacts

    Media relations Investor relations
    Richard Mackillican Yves Cormier
    +31(0) 6 27411546 +31(0) 70 344 8028
    richard.mackillican@aegon.com yves.cormier@aegon.com
       

    Local currencies and constant currency exchange rates
    This document contains certain information about Aegon’s results, financial condition and revenue generating investments presented in USD for the Americas and in GBP for the United Kingdom, because those businesses operate and are managed primarily in those currencies. Certain comparative information presented on a constant currency basis eliminates the effects of changes in currency exchange rates. None of this information is a substitute for or superior to financial information about Aegon presented in EUR, which is the currency of Aegon’s primary financial statements.

    Forward-looking statements
    The statements contained in this document that are not historical facts are forward-looking statements as defined in the US Private Securities Litigation Reform Act of 1995. The following are words that identify such forward-looking statements: aim, believe, estimate, target, intend, may, expect, anticipate, predict, project, counting on, plan, continue, want, forecast, goal, should, would, could, is confident, will, and similar expressions as they relate to Aegon. These statements may contain information about financial prospects, economic conditions and trends and involve risks and uncertainties. In addition, any statements that refer to sustainability, environmental and social targets, commitments, goals, efforts and expectations and other events or circumstances that are partially dependent on future events are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Aegon undertakes no obligation, and expressly disclaims any duty, to publicly update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which merely reflect company expectations at the time of writing. Actual results may differ materially and adversely from expectations conveyed in forward-looking statements due to changes caused by various risks and uncertainties. Such risks and uncertainties include but are not limited to the following:

    • Unexpected delays, difficulties, and expenses in executing against Aegon’s environmental, climate, diversity and inclusion or other “ESG” targets, goals and commitments, and changes in laws or regulations affecting us, such as changes in data privacy, environmental, health and safety laws;
    • Changes in general economic and/or governmental conditions, particularly in Bermuda, the United States, the Netherlands and the United Kingdom;
    • Civil unrest, (geo-) political tensions, military action or other instability in a country or geographic region;
    • Changes in the performance of financial markets, including emerging markets, such as with regard to:         
      • The frequency and severity of defaults by issuers in Aegon’s fixed income investment portfolios;
      • The effects of corporate bankruptcies and/or accounting restatements on the financial markets and the resulting decline in the value of equity and debt securities Aegon holds;
      • The effects of declining creditworthiness of certain public sector securities and the resulting decline in the value of government exposure that Aegon holds;
      • The impact from volatility in credit, equity, and interest rates;
    • Changes in the performance of Aegon’s investment portfolio and decline in ratings of Aegon’s counterparties;
    • Lowering of one or more of Aegon’s debt ratings issued by recognized rating organizations and the adverse impact such action may have on Aegon’s ability to raise capital and on its liquidity and financial condition;
    • Lowering of one or more of insurer financial strength ratings of Aegon’s insurance subsidiaries and the adverse impact such action may have on the written premium, policy retention, profitability and liquidity of its insurance subsidiaries;
    • The effect of applicable Bermuda solvency requirements, the European Union’s Solvency II requirements, and applicable equivalent solvency requirements and other regulations in other jurisdictions affecting the capital Aegon is required to maintain;
    • Changes in the European Commissions’ or European regulator’s position on the equivalence of the supervisory regime for insurance and reinsurance undertakings in force in Bermuda;
    • Changes affecting interest rate levels and low or rapidly changing interest rate levels;
    • Changes affecting currency exchange rates, in particular the EUR/USD and EUR/GBP exchange rates;
    • Changes affecting inflation levels, particularly in the United States, the Netherlands and the United Kingdom;
    • Changes in the availability of, and costs associated with, liquidity sources such as bank and capital markets funding, as well as conditions in the credit markets in general such as changes in borrower and counterparty creditworthiness;
    • Increasing levels of competition, particularly in the United States, the Netherlands, the United Kingdom and emerging markets;
    • Catastrophic events, either manmade or by nature, including by way of example acts of God, acts of terrorism, acts of war and pandemics, could result in material losses and significantly interrupt Aegon’s business;
    • The frequency and severity of insured loss events;
    • Changes affecting longevity, mortality, morbidity, persistence and other factors that may impact the profitability of Aegon’s insurance products and management of derivatives;
    • Aegon’s projected results are highly sensitive to complex mathematical models of financial markets, mortality, longevity, and other dynamic systems subject to shocks and unpredictable volatility. Should assumptions to these models later prove incorrect, or should errors in those models escape the controls in place to detect them, future performance will vary from projected results;
    • Reinsurers to whom Aegon has ceded significant underwriting risks may fail to meet their obligations;
    • Changes in customer behavior and public opinion in general related to, among other things, the type of products Aegon sells, including legal, regulatory or commercial necessity to meet changing customer expectations;
    • Customer responsiveness to both new products and distribution channels;
    • Third-party information used by us may prove to be inaccurate and change over time as methodologies and data availability and quality continue to evolve impacting our results and disclosures;
    • As Aegon’s operations support complex transactions and are highly dependent on the proper functioning of information technology, operational risks such as system disruptions or failures, security or data privacy breaches, cyberattacks, human error, failure to safeguard personally identifiable information, changes in operational practices or inadequate controls including with respect to third parties with which Aegon does business, may disrupt Aegon’s business, damage its reputation and adversely affect its results of operations, financial condition and cash flows, and Aegon may be unable to adopt to and apply new technologies;
    • The impact of acquisitions and divestitures, restructurings, product withdrawals and other unusual items, including Aegon’s ability to complete, or obtain regulatory approval for, acquisitions and divestitures, integrate acquisitions, and realize anticipated results, and its ability to separate businesses as part of divestitures;
    • Aegon’s failure to achieve anticipated levels of earnings or operational efficiencies, as well as other management initiatives related to cost savings, Cash Capital at Holding, gross financial leverage and free cash flow;
    • Changes in the policies of central banks and/or governments;
    • Litigation or regulatory action that could require Aegon to pay significant damages or change the way Aegon does business;
    • Competitive, legal, regulatory, or tax changes that affect profitability, the distribution cost of or demand for Aegon’s products;
    • Consequences of an actual or potential break-up of the European Monetary Union in whole or in part, or further consequences of the exit of the United Kingdom from the European Union and potential consequences if other European Union countries leave the European Union;
    • Changes in laws and regulations, or the interpretation thereof by regulators and courts, including as a result of comprehensive reform or shifts away from multilateral approaches to regulation of global or national operations, particularly regarding those laws and regulations related to ESG matters, those affecting Aegon’s operations’ ability to hire and retain key personnel, taxation of Aegon companies, the products Aegon sells, the attractiveness of certain products to its consumers and Aegon’s intellectual property;
    • Regulatory changes relating to the pensions, investment, insurance industries and enforcing adjustments in the jurisdictions in which Aegon operates;
    • Standard setting initiatives of supranational standard setting bodies such as the Financial Stability Board and the International Association of Insurance Supervisors or changes to such standards that may have an impact on regional (such as EU), national or US federal or state level financial regulation or the application thereof to Aegon, including the designation of Aegon by the Financial Stability Board as a Global Systemically Important Insurer (G-SII);
    • Changes in accounting regulations and policies or a change by Aegon in applying such regulations and policies, voluntarily or otherwise, which may affect Aegon’s reported results, shareholders’ equity or regulatory capital adequacy levels;
    • Changes in ESG standards and requirements, including assumptions, methodology and materiality, or a change by Aegon in applying such standards and requirements, voluntarily or otherwise, may affect Aegon’s ability to meet evolving standards and requirements, or Aegon’s ability to meet its sustainability and ESG-related goals, or related public expectations, which may also negatively affect Aegon’s reputation or the reputation of its board of directors or its management; and
    • Other risks and uncertainties identified in the Form 20-F and in other documents filed or to be filed by Aegon with the SEC.
    • Reliance on third-party information in certain of Aegon’s disclosures, which may change over time as methodologies and data availability and quality continue to evolve. These factors, as well as any inaccuracies in third-party information used by Aegon, including in estimates or assumptions, may cause results to differ materially and adversely from statements, estimates, and beliefs made by Aegon or third-parties. Moreover, Aegon’s disclosures based on any standards may change due to revisions in framework requirements, availability of information, changes in its business or applicable governmental policies, or other factors, some of which may be beyond Aegon’s control. Additionally, Aegon’s discussion of various ESG and other sustainability issues in this document or in other locations, including on our corporate website, may be informed by the interests of various stakeholders, as well as various ESG standards, frameworks, and regulations (including for the measurement and assessment of underlying data). As such, our disclosures on such issues, including climate-related disclosures, may include information that is not necessarily “material” under US securities laws for SEC reporting purposes, even if we use words such as “material” or “materiality” in relation to those statements. ESG expectations continue to evolve, often quickly, including for matters outside of our control; our disclosures are inherently dependent on the methodology (including any related assumptions or estimates) and data used, and there can be no guarantee that such disclosures will necessarily reflect or be consistent with the preferred practices or interpretations of particular stakeholders, either currently or in future. 

    This document contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation (596/2014). Further details of potential risks and uncertainties affecting Aegon are described in its filings with the Netherlands Authority for the Financial Markets and the US Securities and Exchange Commission, including the 2023 Integrated Annual Report. These forward-looking statements speak only as of the date of this document. Except as required by any applicable law or regulation, Aegon expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Aegon’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

    WORLD FINANCIAL GROUP (WFG):
    WFG CONSISTS OF:
    IN THE UNITED STATES, WORLD FINANCIAL GROUP INSURANCE AGENCY, LLC (IN CALIFORNIA, DOING BUSINESS AS WORLD FINANCIAL INSURANCE AGENCY, LLC), WORLD FINANCIAL GROUP INSURANCE AGENCY OF HAWAII, INC., WORLD FINANCIAL GROUP INSURANCE AGENCY OF MASSACHUSETTS, INC., AND / OR WFG INSURANCE AGENCY OF PUERTO RICO, INC. (COLLECTIVELY WFGIA), WHICH OFFER INSURANCE AND ANNUITY PRODUCTS.
    IN THE UNITED STATES, TRANSAMERICA FINANCIAL ADVISORS, INC. IS A FULL-SERVICE, FULLY LICENSED, INDEPENDENT BROKER-DEALER AND REGISTERED INVESTMENT ADVISOR. TRANSAMERICA FINANCIAL ADVISORS, INC. (TFA), MEMBER  FINRA, MSRB, SIPC , AND REGISTERED INVESTMENT ADVISOR, OFFERS SECURITIES AND INVESTMENT ADVISORY SERVICES.
    IN CANADA, WORLD FINANCIAL GROUP INSURANCE AGENCY OF CANADA INC. (WFGIAC), WHICH OFFERS LIFE INSURANCE AND SEGREGATED FUNDS. WFG SECURITIES INC. (WFGS), WHICH OFFERS MUTUAL FUNDS.
    WFGIAC AND WFGS ARE AFFILIATED COMPANIES.

    Attachment

    The MIL Network –

  • MIL-Evening Report: A defence treaty with PNG might seem like a ‘win’ for Australia. But there are 4 crucial questions to answer

    Source: The Conversation (Au and NZ) – By Joanne Wallis, Professor of International Security, University of Adelaide

    Today, Australian Defence Minister Richard Marles began negotiations with his Papua New Guinean counterpart, Billy Joseph, on a defence treaty. This builds on the bilateral security agreement signed between the countries in 2023.

    Analysts have been quick to link the new defence treaty with Australia’s anxiety about China’s increasingly visible presence in the Pacific region.

    This reflects Australia’s longstanding anxiety about powers with potentially hostile interests establishing a foothold here.

    Because it’s only three kilometres from Australian territory, PNG has always been a particular concern. TB Millar, one of the architects of modern Australian strategic policy, went so far as to observe in 1965 that:

    if the whole island [of Papua New Guinea] were to sink under the sea, the net result for Australia in terms of military strategy would be a gain. It is an exposed and vulnerable front door.

    So, the possibility of a defence treaty seems like a “win” for an Australian government keen to bolster its security credentials in the frantic months before the federal election.

    But the government needs to have good answers to four questions before it signs on the dotted line.

    1. How will Australia enforce the treaty?

    Although treaties are theoretically legally binding, there are very few practical enforcement mechanisms.

    The constant agonising in Australia about whether the United States will meet its obligations under the Australia, New Zealand and United States Security Treaty (ANZUS) exemplifies this.

    The Trump administration’s actions also illustrate how quickly a change of government can switch foreign and strategic policy directions, including obligations under longstanding treaties. Like ANZUS, the risk of unenforceability of the PNG treaty is higher for Australia. Australia’s anxieties about China mean that it needs the treaty more than PNG does.

    Sanctions are the most likely way Australia could try to enforce the treaty if, say, PNG breached it by striking a security deal with China. But sanctions can be ineffective.

    Alternatively, Australia could threaten to withdraw its support if PNG breached the treaty. But this is also unlikely because Australia knows China is likely to step into any gap.

    This has been demonstrated in Solomon Islands. Even though Australia has a security treaty with Solomon Islands and invested A$3 billion in the 2003–17 Regional Assistance Mission, Solomon Islands still signed a security agreement with China in 2022.

    2. Has Australia mitigated any risks?

    No previous Australian government has offered PNG a binding security guarantee.

    In 1977, Australia and PNG adopted a formal defence relationship. Australia, however, was cautious about instability in PNG and the risk of being drawn into a conflict along its land border with Indonesia. As such, it didn’t provide a commitment to defend PNG.

    In the mid-1980s, PNG requested a defence commitment from Australia. Again, Australia was reluctant. As then-Defence Minister Kim Beazley recalled, PNG was “right in the frame of our relationship with Indonesia”, due to the shared border with Indonesia and the challenge of West Papuan independence activists crossing it.

    As a compromise, the two countries made a Joint Declaration of Principles in 1987 that only provided the two governments “will consult … about matters affecting their common security interests”.

    As the self-determination struggle in West Papua continues, PNG currently has defence units posted on its border with Indonesia.

    Under what circumstances, if any, would Australia provide military support to PNG if violence on the border worsened? And what impact would this have on our relationship with Indonesia?

    Not responding to a call for support from PNG could damage Australia’s reputation in the region. But if Australia did become involved in a conflict, it may be criticised for supporting activities that breach human rights.

    The risk of Australia being unable to respond to a PNG request for military assistance is high because Australia does not have the defence (or policing) capacity to defend or stabilise a sprawling country like PNG.

    Australia’s reliance on US assistance to stabilise Timor-Leste after its 1999 independence referendum illustrates the logistical challenges it faces when making large deployments, even in the region.

    While Australia’s defence capabilities have improved since then, it would still likely only have the capacity to secure key cities in PNG and evacuate Australian citizens if there was serious unrest.

    3. Can Australia justify the cost at home?

    Australian taxpayers – already experiencing cost-of-living pressures – need to be told what funding commitments the government is willing to make to facilitate the treaty negotiations.

    Australia’s promise of A$600 million to fund a PNG team in the National Rugby League is already attracting opposition at home.

    4. What are the long-term defence plans?

    PNG’s strategic location means Australia and the US have long had designs on establishing a permanent military base there.

    Manus Island, for example, has been identified as an ideal submarine base. With Australia developing nuclear-powered submarines under the AUKUS partnership, are there plans to eventually base – or at least resupply – Australian submarines there?

    This could have an impact on Australia’s relationships in the broader Pacific Islands region. There are already concerns in the region about whether the nuclear-powered submarines will comply with Australia’s obligations under the South Pacific Nuclear Free Zone Treaty.

    Australia has legitimate strategic interests in PNG. As such, it’s understandable why a defence treaty is tempting.

    But for 50 years, Australian governments have resisted this temptation because they decided that the risks outweighed the rewards. The current government will need to provide a good justification for its change of course.

    Joanne Wallis receives funding from the Australian Research Council and the Australian Department of Defence. She is a Nonresident Senior Fellow of the Brookings Institution, a nonprofit public policy organisation.

    – ref. A defence treaty with PNG might seem like a ‘win’ for Australia. But there are 4 crucial questions to answer – https://theconversation.com/a-defence-treaty-with-png-might-seem-like-a-win-for-australia-but-there-are-4-crucial-questions-to-answer-250396

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: China’s Xizang opens first flight linking Hong Kong

    Source: China State Council Information Office 2

    The first commercial flight linking southwest China’s Xizang Autonomous Region and the Hong Kong Special Administrative Region started operation Wednesday morning.
    The flight, operated by Tibet Airlines and using an Airbus A319, runs twice a week on Wednesdays and Sundays. It departs Lhasa at 8:10 a.m., stops over in Chengdu City of southwest China’s Sichuan Province, and arrives in Hong Kong at 2:35 p.m.
    The new route supports Xizang’s openness, boosts its cultural and tourism industries, and strengthens ties with the Guangdong-Hong Kong-Macao Greater Bay Area, according to the regional administration of the Civil Aviation Administration of China.
    Previously, Xizang had two international routes: one from Lhasa to Kathmandu, Nepal, and another from Lhasa via southwest China’s Chongqing Municipality to Singapore. 

    MIL OSI China News –

  • MIL-OSI China: Chinese scientists achieve breakthrough in integrated photonic quantum chips

    Source: China State Council Information Office 2

    Chinese scientists have achieved a major breakthrough in integrated photonic quantum chips by demonstrating the first “continuous-variable” quantum multipartite entanglement and cluster states on the chip.
    The breakthrough addresses a critical gap in the development of photonic quantum chips and lays the foundation for scalable quantum entanglement, with potential applications in quantum computing and quantum networks.
    The research, led by scientists from Peking University and Shanxi University, was published in the latest issue of Nature.
    Integrated photonic quantum chips are advanced platforms designed to encode, process, transmit, and store quantum information at the chip level. However, achieving large-scale quantum entanglement of photonic qubits on these chips has long posed a significant challenge.
    One key difficulty has been the deterministic and scalable preparation of cluster states, which are crucial in quantum information science, particularly for photonic quantum chips, said Wang Jianwei, a professor at Peking University.
    By developing new technologies for coherent pumping, control, and measurement of continuous-variable cluster states, the team successfully prepared various cluster states in a deterministic and reconfigurable manner. The entanglement structures were rigorously validated through extensive experimental testing.
    “We have pioneered the development of a continuous-variable quantum chip, enabling the deterministic generation of cluster states directly on the chip,” Wang said. “Our work highlights the potential of these integrated devices for advancing quantum computing, networking and sensing.”
    “This achievement marks a breakthrough by Chinese scientists in the field of integrated photonic quantum chips,” said Gong Qihuang, an academician of the Chinese Academy of Sciences.
    This breakthrough opens a new pathway for the preparation and manipulation of large-scale quantum entangled states, which are critical for the development of quantum computing and quantum network technologies, Gong said.
    Earlier, the research team developed an ultra-large-scale photonic quantum chip that integrates about 2,500 components, providing a scalable and stable core for future quantum computers. 

    MIL OSI China News –

  • MIL-OSI USA: Senator Reverend Warnock’s Issues Statement for the Official Record on Nomination of Jamieson Greer to be USTR

    US Senate News:

    Source: United States Senator Reverend Raphael Warnock – Georgia

    Senator Reverend Warnock’s Issues Statement for the Official Record on Nomination of Jamieson Greer to be USTR

    Today, U.S. Senator Reverend Raphael Warnock (D-GA), issued the following statement on consideration of the Nomination of Jamieson Greer, of Maryland, to be United States Trade Representative, with the rank of Ambassador Extraordinary and Plenipotentiary.
    “I will vote against the nomination of Mr. Jamieson Greer to serve as the United States Trade Representative. Despite Mr. Greer’s qualifications, he would be responsible for implementing President Trump’s haphazard and reckless trade policies, which I believe are harmful to Georgia businesses, farmers, and families. I am particularly concerned that, instead of advising the President on trade, Mr. Greer would be forced to appease President Trump’s chaotic tariff impulses.”
    “President Trump has used the threat of tariffs on America’s closest allies and trading partners—including Mexico, Canada, and even the European Union—merely to advance partisan or political goals that have little to do with our economy. These actions risk increasing costs for Georgia families and threatening good-paying American jobs.”  
    “Should Mr. Greer be confirmed, as Ranking Member of the Senate Subcommittee on International Trade, Customs, and Global Competitiveness, I will work with him, holding him accountable when necessary, to fight for domestic manufacturing in critical sectors like clean energy and electric vehicles, which are leading Georgia’s economic growth and reducing our dependence on China; to identify new international market access opportunities for Georgia’s farmers and small businesses, while protecting them from harmful trade wars; and to lower costs for hard-working families.”

    MIL OSI USA News –

  • MIL-OSI Security: Maj. Gen. Gavin Gardner Visits COMLOG WESTPAC, Feb. 4, 2025 [Image 1 of 3]

    Source: United States Navy (Logistics Group Western Pacific)

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    SINGAPORE (Feb. 4, 2025) U.S. Navy Rear Adm. Todd F. Cimicata, center, Commander, Logistics Group Western Pacific/Task Force 73 (COMLOG WESTPAC/CTF 73), and Capt. John-Paul Tamez, left, Deputy Commander, COMLOG WESTPAC, meet with U.S. Army Maj. Gen. Gavin Gardner, third from right, 8th Theater Sustainment Command, and staff during a scheduled visit to Sembawang Naval Installation, Feb. 4, 2025. COMLOG WESTPAC supports deployed surface units and aircraft carriers, along with regional partners, to facilitate patrols in the South China Sea, participation in naval exercises and responses to natural disasters. (U.S. Navy photo by Mass Communication Specialist 1st Class Jomark A. Almazan/Released)

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  • MIL-Evening Report: US backing for Pacific disinformation media course casualty of Trump aid ‘freeze’

    Pacific Media Watch

    A New Zealand-based community education provider, Dark Times Academy, has had a US Embassy grant to deliver a course teaching Pacific Islands journalists about disinformation terminated after the new Trump administration took office.

    The new US administration requested a list of course participants and to review the programme material amid controversy over a “freeze” on federal aid policies.

    The course presentation team refused and the contract was terminated by “mutual agreement” — but the eight-week Pacific workshop is going ahead anyway from next week.

    Dark Times Academy’s co-founder Mandy Henk . . . “A Bit Sus”, an evidence-based peer-reviewed series of classes on disinfiormation for Pacific media. Image: Newsroom

    “As far as I can tell, the current foreign policy priorities of the US government seem to involve terrorising the people of Gaza, annexing Canada, invading Greenland, and bullying Panama,” said Dark Times Academy co-founder Mandy Henk.

    “We felt confident that a review of our materials would not find them to be aligned with those priorities.”

    The course, called “A Bit Sus”, is an evidence-based peer-reviewed series of classes that teach key professions the skills needed to identify and counter disinformation and misinformation in their particular field.

    The classes focus on “prebunking”, lateral reading, and how technology, including generative AI, influences disinformation.

    Awarded competitive funds
     Dark Times Academy was originally awarded the funds to run the programme through a public competitive grant offered by the US Embassy in New Zealand in 2023 under the previous US administration.

    The US Embassy grant was focused on strengthening the capacity of Pacific media to identify and counter disinformation. While funded by the US, the course was to be a completely independent programme overseen by Dark Times Academy and its academic consultants.

    Co-founder Henk was preparing to deliver the education programme to a group of Pacific Island journalists and media professionals, but received a request from the US Embassy in New Zealand to review the course materials to “ensure they are in line with US foreign policy priorities”.

    Henk said she and the other course presenters refused to allow US government officials to review the course material for this purpose.

    She said the US Embassy had also requested a “list of registered participants for the online classes,” which Dark Times Academy also declined to provide as compliance would have violated the New Zealand Privacy Act 2020.

    Henk said the refusal to provide the course materials for review led immediately to further discussions with the US Embassy in New Zealand that ultimately resulted in the termination of the grant “by mutual agreement”.

    However, she said Dark Times Academy would still go ahead with running the course for the Pacific Island journalists who had signed up so far, starting on February 26.

    Continuing the programme
    “The Dark Times Academy team fully intends to continue to bring the ‘A Bit Sus’ programme and other classes to the Pacific region and New Zealand, even without the support of the US government,” Henk said.

    “As noted when we first announced this course, the Pacific Islands have experienced accelerated growth in digital connectivity over the past few years thanks to new submarine cable networks and satellite technology.

    “Alongside this, the region has also seen a surge in harmful rumours and disinformation that is increasingly disrupting the ability to share accurate and truthful information across Pacific communities.

    “This course will help participants from the media recognise common tactics used by disinformation agents and support them to deploy proven educational and communications techniques.

    “By taking a skills-based approach to countering disinformation, our programme can help to spread the techniques needed to mitigate the risks posed by digital technologies,” Henk said.

    Especially valuable for journalists
    Dark Times Academy co-founder Byron Clark said the course would be especially valuable for journalists in the Pacific region given the recent shifts in global politics and the current state of the planet.

    Dark Times Academy co-founder and author Byron Clark . . . “We saw the devastating impacts of disinformation in the Pacific region during the measles outbreak in Samoa.” Image: APR

    “We saw the devastating impacts of disinformation in the Pacific region during the measles outbreak in Samoa, for example,” said Clark, author of the best-selling book Fear: New Zealand’s Underworld of Hostile Extremists.

    “With Pacific Island states bearing the brunt of climate change, as well as being caught between a geopolitical stoush between China and the West, a course like this one is timely.”

    Henk said the “A Bit Sus” programme used a “high-touch teaching model” that combined the current best evidence on how to counter disinformation with a “learner-focused pedagogy that combines discussion, activities, and a project”.

    Past classes led to the creation of the New Zealand version of the “Euphorigen Investigation” escape room, a board game, and a card game.

    These materials remain in use across New Zealand schools and community learning centres.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI China: Youngsters take a shine to gold phone stickers

    Source: China State Council Information Office

    Customers view gold jewelry at a gold shop in Jinan, capital of East China’s Shandong province, Jan 27, 2024. [Photo/Xinhua] 

    As gold prices rally, driven by market volatility and central bank purchases, younger Chinese consumers are finding a new way to get in on the action — through the purchase of trendy and low-cost gold phone stickers.

    These lightweight accessories, ranging from 0.01 to 0.2 grams in weight and priced anywhere from 40 yuan ($5.5) to over 100 yuan, come in a wide variety of auspicious designs and motifs, from depictions of the God of Wealth to emblems bearing lucky phrases such as “Peace and Happiness” and “Get Rich”.

    “By simply peeling off the adhesive and affixing the charm to the back of their smartphones, young consumers can instantly transform their devices into portable talismans of wealth and success,” said Wu Ming, a business owner in Shuibei, a gold jewelry manufacturing and trading hub in Shenzhen, Guangdong province.

    It’s a small investment, but the impact is quite powerful, Wu said, adding that the charms allow young people to feel like they’re partaking in the gold rush, while also serving as a daily reminder of their aspirations for prosperity.

    The gold phone sticker trend has taken on a strong social media dimension, with users actively engaging with and inspiring one another. This has created a powerful viral effect, attracting more people to participate in this fashion craze.

    A search for “gold phone stickers” on the popular social media platform Xiaohongshu, also known as Rednote, yielded over 5.98 million related posts, as of mid-February.

    While gold phone stickers have been around for years, it wasn’t until the end of 2024 that they turned highly popular. The key driver behind this surge is advances in manufacturing that have allowed producers to create thinner, lighter charms with a wider array of stylish designs, Wu said.

    Collaborations with popular IP and the integration of viral social media catchphrases have proved to be highly effective strategies, Wu added.

    Chinese jeweler CHJ Industry has joined forces with the iconic Japanese anime character Doraemon and popular Chinese TV drama Empresses in the Palace, to break out of their traditional mold and tap into the cultural zeitgeist driving the gold phone sticker trend.

    “The posts on Xiaohongshu all talk about how wearing these gold charms can bring you luck and prosperity,” said Yang Hongyi, a 26-year-old resident in Beijing.

    “I’m not buying them to hold as an investment — I just want a touch of gold on my phone to bring a little auspiciousness, and maybe even give one to a friend as a fun gift for the new year,” Yang said.

    Take, for example, a gold phone sticker weighing just 0.1 gram, which is being sold for about 100 yuan at least. This translates to a unit price of over 1,000 yuan per gram, while a gram of pure gold in the open market generally sells for around 700 yuan, including both the cost of the gold and a processing fee of 15 to 35 yuan.

    In the past, the primary driver for gold purchases was the metal’s perceived ability to maintain and grow in value over time, but the trend of gold phone stickers has ushered in a new era where the aspirational appeal of these accessories has taken center stage, said Li Yang, an associate professor at Cheung Kong Graduate School of Business.

    It’s no longer just about the intrinsic value of the gold, but the social currency and cultural cachet these accessories represent, Li said.

    “A gold phone charm is just a decorative item, it has nothing to do with whether it maintains its value or not,” Yang said. “It’s like a phone case — if you don’t like it, you can just change it, and you don’t feel bad about it.”

    MIL OSI China News –

  • MIL-OSI China: China’s passenger car industry sees stable growth in January

    Source: China State Council Information Office

    Visitors learn about a car at the 20th China (Changsha) International Automobile Exposition in Changsha, central China’s Hunan Province, Dec. 4, 2024. [Photo/Xinhua]

    China’s passenger car industry maintained steady growth in both output and sales in January, industry data showed on Wednesday.

    Last month, the passenger car output logged a year-on-year increase of 3.3 percent to stand at 2.15 million units, while its sales ticked up 0.8 percent to 2.13 million units, according to the China Association of Automobile Manufacturers.

    In a breakdown, multi-purpose vehicles rose by double digits from the same period last year in both output and sales, while output of sports utility vehicles saw a marginal growth.

    Exports of passenger cars soared by 7 percent year on year to reach 395,000 units during the same period, while its domestic sales dipped by 0.5 percent year on year, the association said. 

    MIL OSI China News –

  • MIL-OSI China: Prosecutors combat grassroots corruption

    Source: China State Council Information Office 2

    China’s top prosecutors have ramped up efforts to combat corruption at the grassroots level, particularly in healthcare, education and employment, as these areas directly impact people’s daily lives, officials from the Supreme People’s Procuratorate said.
    More than 3,000 people were prosecuted in 2024 for dereliction of duty in these sectors, a 1.6-fold increase from the previous year, according to statistics released on Tuesday by the Supreme People’s Procuratorate.
    Procuratorial authorities have focused on tackling corruption linked to people’s livelihoods and rural revitalization, said Zhang Xiaojin, head of the procuratorate’s division on duty-related crimes.
    To address public concerns over corruption in the healthcare sector, which has made medical treatment more difficult and expensive, prosecutors have targeted offenses such as taking kickbacks and embezzling health insurance funds. As a result, more than 1,800 individuals in the healthcare industry were prosecuted for duty-related crimes, Zhang said.
    In March 2024, the Supreme People’s Procuratorate, the Supreme People’s Court and the Ministry of Public Security issued a guideline on handling health insurance fraud cases to step up enforcement against such offenses, which have been on the rise.
    The guideline states that conspirators involved in fraud schemes carried out by medical institutions, such as fabricating medical services and falsifying medical bills, will be prosecuted.
    Individuals who illegally receive health insurance refunds through fraudulent means, including by using others’ medical insurance certificates, will also face punishment.
    Meanwhile, more than 1,200 people from township and village organizations were prosecuted for duty-related crimes last year, marking a 48.5 percent year-on-year increase.
    “Punishing corruption crimes that affect the public is also a way of protecting people’s livelihoods,” Zhang said.
    To further safeguard public interests, procuratorial authorities nationwide handled more than 92,000 public interest litigation cases from January to November last year in areas such as food and drug safety, the rights of vulnerable groups, and the security of citizens’ personal information, according to Xu Xiangchun, director of the Supreme People’s Procuratorate’s Public Interest Litigation Procuratorate Office.
    “Public interest is the interest of the people. The procuratorial public interest litigation system is closely tied to daily life,” Xu said in an interview on Wednesday.
    “In 2024, prosecutors focused on public concerns, actively responded to livelihood issues, and handled cases in a precise and law-abiding manner.”
    In one case, the Qinghai Provincial People’s Procuratorate filed administrative public interest litigation against more than 60 express delivery companies for failing to legally contribute to work injury insurance for couriers, strengthening labor protections.
    In another case, the procuratorial office in Tianfu New Area in Chengdu, the capital of Sichuan province, urged administrative bodies to revise village autonomy regulations in eight villages that violated women’s rights.

    MIL OSI China News –

  • MIL-OSI China: Strict measures in place ahead of national exam

    Source: China State Council Information Office 2

    The Ministry of Education has stipulated several measures to ensure fairness and order in the upcoming National College Entrance Examination. This year’s exam will be held from June 7-8, the ministry announced on Wednesday.
    The National College Entrance Examination, or gaokao, is a crucial test for Chinese students, serving as the primary gateway to higher education and a major determinant of their future. The high-stakes exam is key to university admissions, significantly impacting career prospects, social standing and overall life trajectory.
    According to a recent notice from the ministry, authorities will take strict measures to prevent and crack down on cheating.
    The notice stipulates that intelligent security gates be fully deployed and wireless signals effectively shielded at examination sites, with real-time intelligent patrols and inspections conducted at testing locations.
    To promote fairness, the document calls for strict measures against “exam migrants”, or students who register to take the test in a different province to improve their chances of admission to top universities. High schools are responsible for strictly regulating student records and investigating “ghost enrollments”, where students enroll in one school while being registered at another, the notice said.
    This phenomenon is driven by disparities in gaokao difficulty and university admission quotas across different provinces and regions, with some areas seen as having easier exams or higher chances of admission to prestigious universities.
    The notice also calls for improved oversight in selecting top-tier innovative talent at universities. A comprehensive system for identifying, cultivating and evaluating such students will be established, along with pilot programs, such as youth talent initiatives.
    To maintain a positive exam environment, the notice strictly prohibits promotions or publicity about “top scorers” or high school “enrollment rates”. Teachers and students should not be rewarded based on exam scores, and admission rates should not be linked to teacher evaluations, awards or promotions, according to the document.

    MIL OSI China News –

  • MIL-OSI China: China strongly opposes US tariff hike: commerce minister

    Source: China State Council Information Office

    China is strongly dissatisfied with the United States’ decision to impose an additional 10 percent tariff on Chinese goods on the grounds of fentanyl-related issues, Commerce Minister Wang Wentao said on Wednesday.

    Wang made the remarks in a letter to Howard Lutnick, the newly appointed U.S. secretary of commerce, congratulating him on taking office.

    China and the United States have engaged in extensive, in-depth cooperation on fentanyl control, and significant outcomes have been achieved, Wang said, adding that the unilateral tariff increase imposed by the United States has disrupted normal economic and trade relations between the two countries.

    China hopes to address the concerns of each other through equal dialogue and consultation, he said.

    Economic and trade relations are a crucial component of China-U.S. relations. As the world’s two largest economies, strengthening economic and trade cooperation between China and the United States is crucial for the development of both countries and for global economic growth, according to Wang.

    Over recent years, the two countries’ commerce departments have played an important role in promoting and facilitating bilateral economic and trade cooperation, he said.

    China is willing to work with the United States to enhance dialogue, manage differences and promote cooperation on the basis of mutual respect, peaceful coexistence and win-win cooperation, thereby creating a fair and predictable policy environment for practical cooperation between the business communities of both nations, Wang said.

    MIL OSI China News –

  • MIL-OSI China: Tax breaks give tech edge to nation

    Source: China State Council Information Office

    A robot makes coffee at a booth at the 26th China High-Tech Fair (CHTF) in Shenzhen, south China’s Guangdong Province, Nov. 14, 2024. [Photo/Xinhua]

    The industrialization rate of invention patents among Chinese enterprises has been steadily rising, with medium and small-sized enterprises making a growing contribution, China’s top intellectual property regulator said on Wednesday.

    According to the China National Intellectual Property Administration (CNIPA), Chinese enterprises in 2024 achieved an industrialization rate of 53.3 percent for effective invention patents, marking a 2 percentage point increase from the previous year.

    Notably, medium and small-sized enterprises have outperformed the overall average, with their rates reaching new record highs of 61.4 percent and 57.8 percent since 2021.

    The industrialization rate of micro-enterprise invention patents reached 36.7 percent, which also marks a new record over the past four years.

    The high-tech sector has been one of the major driving factors pushing growth. In 2024, the industrialization rate of effective invention patents in national high-tech enterprises reached 61.2 percent, marking an increase of 3.6 percentage points from the previous year and surpassing the overall enterprise level by 7.9 percentage points, said Liang Xinxin, a senior CNIPA official, at a press conference held by the State Council Information Office.

    While the electrical machinery and equipment manufacturing industry boasts the highest rate of invention patents, Liang noted that companies involved in strategic emerging industries and future industries also performed well. The average income from industrializing invention patents in these sectors was 8 percent and 30.3 percent higher, respectively, than that of average enterprises, demonstrating the strong vitality of these sectors.

    Data also revealed that enterprises have shown a strong willingness to industrialize green technology. According to Liang, almost half of Chinese enterprise patent holders have already initiated or are considering launching innovations in green technology.

    By the end of 2024, Chinese domestic enterprises held over 3.5 million valid invention patents, representing 73.7 percent of the national total, up 2.6 percentage points from the previous year.  

    MIL OSI China News –

  • MIL-OSI China: Putin: Russian troops crossed into Ukraine from Kursk region

    Source: China State Council Information Office

    Russian President Vladimir Putin speaks at the plenary session of the 27th St. Petersburg International Economic Forum in St. Petersburg, Russia, on June 7, 2024. [Photo/Xinhua]

    Russian President Vladimir Putin said that he was informed an hour ago that Russian forces had crossed the border with Ukraine from the Kursk region, the TASS news agency reported Wednesday.

    “The most recent information that I was reported just an hour ago is that tonight the fighters of the 810th brigade crossed the border of the Russian Federation and Ukraine and entered the territory of the enemy,” Putin said, while answering journalists’ questions during a visit to a drone plant in St. Petersburg.

    Russia’s army has been pushing back Ukrainian forces in Kursk region following their surprise cross-border attack in August 2024.

    MIL OSI China News –

  • MIL-OSI China: Chinese FM calls for true multilateralism, more equitable global governance system

    Source: China State Council Information Office

    Chinese Foreign Minister Wang Yi, also a member of the Political Bureau of the Communist Party of China Central Committee, chairs the UN Security Council’s high-level meeting on “Practicing multilateralism, reforming and improving global governance” at the UN headquarters in New York on Feb. 18, 2025. [Photo/Xinhua]

    Chinese Foreign Minister Wang Yi on Tuesday called for reinvigorating true multilateralism and speeding up the efforts to build a more just and equitable global governance system.

    Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks in his speech at the UN Security Council’s high-level meeting on “Practicing multilateralism, reforming and improving global governance.”

    The year 2025 marks the 80th anniversary of the founding of the United Nations, Wang said.

    The 80 years of history is enlightenment enough. In the face of the turbulent and changing international landscape, the UN-centered international system provides important safeguards for the cause of human progress, and the vision of multilateralism with coordination and cooperation as its cornerstone is the best solution to global issues, he said.

    In the face of the historical trend of shared future, no country can prosper alone, and mutually beneficial cooperation is the right choice. In the face of the profoundly changing international landscape, the Global South should not only achieve the historic feat of moving toward modernization together, but also remain at the forefront of improving the global governance system, he added.

    “In a time of intensifying turbulence and transformation, we need, more than ever, to remind ourselves of the founding mission of the United Nations, reinvigorate true multilateralism, and speed up the efforts to build a more just and equitable global governance system,” said Wang.

    In this connection, Wang made a four-point proposal:

    First, upholding sovereign equality. In advancing global governance, all countries have the right to participate as equals, make decisions as equals, and benefit as equals. There is a need to respect the development paths chosen independently by people of all countries, uphold the principle of non-interference in internal affairs, and not impose one’s will upon others.

    Second, upholding fairness and justice. A critical part of global governance is to ensure that justice prevails. Under the new circumstances, international affairs should no longer be monopolized by a small number of countries. The reform of the Security Council should continue to emphasize democratic consultation, increase the representation and say of developing countries, especially African countries, and effectively redress historical injustice.

    Third, upholding solidarity and coordination. Promoting international cooperation is an important purpose of the UN Charter, and a sure path toward improving global governance. Countries should commit themselves to the principle of extensive consultation and joint contribution for shared benefit, replace confrontation with coordination, prevent lose-lose through win-win cooperation, and break down small circles with greater solidarity.

    Fourth, upholding an action-oriented approach. Global governance has to be improved, not through words but through action. In the face of protracted wars, loss of innocent lives, and challenges brought by new technologies, UN agencies should seek solutions rather than chant slogans.

    On the situation in the Middle East, Wang said it is vital to uphold the two-state solution, press for a comprehensive, just and lasting settlement of the Palestinian question, and bring lasting peace and security to the Middle East.

    On the Ukraine crisis, the foreign minister said that since the start of the crisis, China has been calling for a political settlement and pushing for peace talks, and China supports all efforts conducive to peace.

    Noting that China has remained steadfast in making its contribution to global governance, Wang said a community with a shared future for mankind, the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative represent China’s proposal for the reform and improvement of global governance.

    Stressing that China pursues peace and security, advances common development, champions openness and inclusiveness, and upholds multilateral cooperation in global governance, Wang said that China, as a founding member of the United Nations, takes the lead in practicing true multilateralism.

    China is a member of almost all universal intergovernmental organizations and a party to over 600 international conventions and their amendments, he said, adding China supports the United Nations in playing a central role in international affairs and makes continuous contribution to the UN cause.

    With the United Nations about to enter its next 80 years, China stands ready to work with all parties to draw wisdom from history, open a new era for multilateralism, and make global governance more fair and equitable, Wang said.

    MIL OSI China News –

  • MIL-OSI China: China reveals cases on military facilities’ protection

    Source: China State Council Information Office 3

    China’s top court disclosed five influential cases involving the protection of military facilities to further enhance the public awareness of national defense and the rule of law.

    “Military facilities are an important component of national defense construction, serving as the foundation of the military to fulfill its missions, and providing crucial support for national strategic capabilities and military operations,” the Supreme People’s Court said on Wednesday.

    “The disclosure of the cases not only emphasizes the significance of protecting military facilities, but also demonstrates the steadfast determination and relentless efforts of Chinese courts in safeguarding national defense interests,” it added.

    It revealed that crimes involving the destruction of military facilities, such as military optical cables, have occurred from time to time in recent years. “Such actions endanger military security and affecting the military ability to carry out its missions, so they must be severely punished,” it noted.

    One disclosed case showed that a defendant surnamed Xu was sentenced to 18 months in prison for the crime of sabotage of military communications.

    Xu, who worked for an information technology company, was responsible for the daily inspection and maintenance of optical cable lines. He used metal pliers to cut a military optical cable during one inspection with the intention of selling it, causing the interruption of critical business systems for over two hours and disrupting military communications for three units that were conducting exercises.

    Xu’s actions resulted in economic losses of more than 40,000 yuan ($5,490), and the loss of the involved optical cable amounted to over 9,000 yuan.

    “Military communication is the method by which the armed forces use communication tools or other means to transmit information for command purposes,” the top court said, stressing that military optical cables are vital military communication facilities.

    “In the information age, the damage to military optical cables can have significant adverse effects on military communications and activities, not only causing financial losses but also severely influencing the readiness and training of troops, thereby endangering national defense interests and national security,” it added.

    It praised the conviction and sentence given to Xu, noting that the ruling has shown the judicial high-pressure on those who harm national defense interests and military combat effectiveness.

    While requiring courts nationwide to continue the fight against such crime, it has also called on more people from all walks of life to strengthen the protection of military facilities.

    MIL OSI China News –

  • MIL-OSI USA: On Senate Floor, Shaheen Blasts Trump Administration’s Reckless Firing of FAA Personnel Critical to Aviation Safety

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Washington, DC) – On the Senate floor, U.S. Senator Jeanne Shaheen (D-NH) raised concerns for public safety after the Trump Administration recklessly decided to fire hundreds of Federal Aviation Administration (FAA) personnel critical to aviation safety. This week’s decision will further strain the system at a time when incidents and near-misses are at a high. Last week, Shaheen and U.S. Senator John Hoeven (R-ND) sent a bipartisan letter calling on Acting Administrator of the FAA, Chris Rochelau to urgently work with Congress to address air safety workforce staffing shortages. You can watch her remarks in full here. 

    Key Quotes:

    • “Many towers and facilities are operating buildings and on equipment that’s five, ten, even fifteen years old and when something goes wrong, they need to know there’s someone on call to fix things because lives literally depend on it. Americans need to know that the skies are secure and that their safety is a top priority.” 
    • “I think we should do everything we can to make government run efficiently and effectively. But indiscriminately freezing hiring across the board [and] pushing out thousands of civil servants makes that problem worse, not better.” 
    • “I don’t think people elected Donald Trump to dismantle this country’s air traffic control system. I think they elected him because they wanted to see inflation go down, they wanted to see their grocery prices reduced, they wanted to see help with rental costs, mortgage rates, with energy costs, and what have we seen in the weeks since Donald Trump got inaugurated? No effort to address any of those things.” 

    Full Remarks as Delivered:

    I come to the floor today to call attention to the Trump Administration’s unconscionable disregard for air safety. 

    Last month, here in Washington, we saw the deadliest commercial aviation event on U.S. soil in over 23 years.

    And while this loss of life was horrifying, it was unfortunately not unimaginable. 

    In recent years, near misses at airports across the country have increased, and the incident at DCA illustrated just how quickly these dangerous situations can take a turn for the worst. 

    Several times last year, runway incidents were narrowly avoided, due in no small part to the heroic actions of certified professional air traffic controllers who staff our towers. 

    These controllers are hardworking Americans.

    They often log six-day weeks and ten-hour days—and that’s on a good week.

    So even before this week’s misguided and, frankly, stupid—I mean, I have to say, I think it’s a stupid decision to lay off hundreds of FAA workers and air traffic controllers who have been overworked and understaffed.

    And this is not a new problem.

    We’ve known about it for years. 

    For years in Congress, we’ve been sounding the alarm about the need to invest in our air traffic control workforce.  

    In last year’s FAA reauthorization bill, we worked in a bipartisan fashion to address this issue—to support our air traffic control workforce so they can do their vital, often lifesaving jobs effectively.

    By partnering with the National Air Traffic Control Union and the FAA, we successfully adopted a new staffing method, model, staffing model, in the reauthorization bill, and they’ve been making good progress, but of course we have more work to do.

    It’s important to acknowledge that any response to the tragedy at Reagan National Airport must include a commitment to reinforce all parts of our aviation safety workforce. 

    Controllers would be the first ones to tell you that they don’t work in a vacuum. 

    The equipment they use is maintained by hundreds of dedicated support personnel who go through years of highly specialized training.

    Many towers and facilities operate in buildings and on equipment that’s five, ten, even fifteen years old, and when something goes wrong, they need to know that there’s someone on call to fix things because lives literally depend on it.

    Americans need to know that the skies are secure and that their safety is a top priority. 

    Sadly, I can’t say that the actions we’re seeing from this administration does any of that. 

    Secretary Duffy said he wants to surge air traffic controller hiring.  
     

    I agree with him on that. 

    We can and we should hire more air traffic controllers, but not at the expense of the rest of FAA’s workforce. 

    We can hire any number of air traffic controllers tomorrow, but without the dedicated support staff that make their work possible, it wouldn’t matter. 

    So how is the Administration responding to the American people’s distress over increasingly frequent close calls and, indeed crashes, sadly, like the one we saw in Toronto this week?

    Well, over the weekend this administration fired nearly 400 FAA employees, some of them in my state of New Hampshire. 

    We heard an outpouring of concern over the weekend from controllers, pilots, airlines and passengers who want to know that they’re going to be safe when they fly.

    I’m sure the Administration must be hearing this too.

    But when asked about the impact of the irresponsible and reckless effort, this is what Secretary Duffy had to say, he said and I quote, “zero critical safety personnel were let go.”

    Well, so I’m not sure I understand this. 

    We’re telling the American people that if a communications system goes down while the plane is approaching the runway, the person who knows how to get it back up and running isn’t critical?

    That if the power goes out at an en-route facility while 747s are flying overhead, the eighteen fired maintenance personnel who know how to turn the lights back on won’t be necessary?

    That the staffers who develop innovative safety and flight procedures every time there is an incident, to make sure your plane takes off on time and arrives safely, are fair game to be fired?

    Because we just lost 13 of them. 

    And to anyone who’s worried about our national security, good news: According to this administration, the FAA employees working on a classified radar system to detect cruise missiles, aren’t all that important either, and they also were fired.

    So I’m going to say that again because this administration thinks that the civil servants at the FAA’s National Airspace System Defense Program are apparently not critical to our safety. 

    None of this makes me or my constituents sleep better at night, but I bet you it makes our enemies happy. 

    The Administration has tried to defend this by saying that everyone who [they] fired was probationary.

    They’d like you to believe that these are all brand-new employees. 

    Sort of the philosophy that the last one in, is the first one out. 

    But that’s not how the system works, and it sure as heck isn’t how you keep Americans safe. 

    In fact, employees who were promoted based on stellar performance within the last year, many of them who have been with the FAA for ten or fifteen years, are also labeled as probationary employees when they start their new positions.

    So in fact, the Administration just fired some of the people with the most experience, not the least.

    And this speaks to what is a bigger problem. 

    Time and again, we’re seeing this happen with so-called “government efficiency,” in quotes, experts. 

    Listen, like most of us in this chamber, I think we should do everything we can to make government run efficiently and effectively, but indiscriminately freezing hiring across the board, pushing out thousands of civil servants, makes that problem worse, not better. 

    Last week, hundreds of employees at the National Nuclear Security Administration were fired without warning. 

    This week, the Administration is scrambling to try and hire most of them back because they didn’t realize they oversee our nuclear stockpile.

    And the Department of Energy fired more than a thousand employees, including three-quarters of the State and Community Energy Program’s office.

    Now, I don’t know if the people who are making these decisions in the Administration even know what that office does.

    But I can tell you that in New Hampshire we depend on them because they help keep weatherization programs up and running, they support emergency operations in the wake of disasters.

    And with folks in New Hampshire dealing with some of the highest home heating costs, who are worried about how they’re going to keep themselves warm this winter, and states around the country still recovering from floods and fires and winter storms, I can’t imagine why anybody would think that it’s a good idea to get rid of the people who are helping make sure those programs operate. 

    And then on Monday, we found out that dozens of USDA employees, so the Department of Agriculture, who have been working to prevent bird flu, were fired. 

    And then the White House realized what they had done, they panicked and they tried to bring them back. 

    Now that’s on top of all of the people around the globe who have been monitoring the bird flu potential epidemic—who have already been fired with the closure of the U.S. Agency for International Development.

    And just this afternoon, we heard that nearly 500 employees at the National Institute of Standards and Technology would be fired, including almost 60 percent of the CHIPS office.

    So the effort that we stood up, that this Congress stood up, to try and make sure we could compete with China, with Taiwan in the production of semiconductors, which are included in almost everything we use from our cell phones to our refrigerators to our cars, 60 percent of those people are now gone.

    So who’s going to provide that effort that we need in order to compete with China? 

    These are the staff that make sure our high-tech semiconductor manufacturing industry stays competitive. 

    Example after example shows that the firings that Elon Musk has taken credit for have not been thought through. 

    Either he’s doing it deliberately in an effort to undermine the United States or he’s doing it because he’s so ignorant he has no idea what any of these people do or what their operations do.

    Either way, it’s inexcusable. 

    I heard from a constituent this week who works, who worked, past tense, for the New Hampshire Fish and Game Department for 24 years, and she just took a job as a wildlife biologist with the U.S. Fish and Wildlife Service last year. 

    Her job focused on implementing the Pittman-Robinson Wildlife Restoration Act. 

    As my colleagues on both sides of the aisle know, this involves conserving bird and wildlife habitat, hunter education and shooting ranges. 

    Its funds come not from taxpayer dollars, but from excise taxes on firearms, ammunition and archery equipment.

    And yet, her job was terminated under the guise of government efficiency. 

    She has a mortgage; she has kids in college who need health care coverage, but her main ask to me was to help put a stop to these firings and to simply help her get her job back because like most of our public servants, she cares about the mission of her work.

    Over and over, we’re seeing this administration take out irresponsible, reckless initiatives with devastating consequences for critical positions without taking a second to think through or learn about what those positions do. 

    And when things inevitably break as a result, they don’t own up to their mistakes. 

    Instead, they try to convince you that keeping the lights on at control towers or inspecting airplane engines, making plans to manage some of the busiest airspace in the country really isn’t critical to your safety. 

    Well, I don’t believe that and I don’t think you should either. 

    For the sake of the American people, we can and we must do better.

    I don’t think people elected Donald Trump to dismantle this country’s air traffic control system. 

    I think they elected him because they wanted to see inflation go down, they wanted to see their grocery prices reduced, they wanted to see help with rental costs, with mortgage rates, with energy costs and what have we seen in the weeks since Donald Trump got inaugurated?

    No effort to address any of those things. 

    All we’ve seen is an effort at retribution against his perceived enemies, at firing and undermining of services and programs within the government to serve the American people. 

    For the sake of our citizens, we must do better. 

    I’m calling on this administration to right this wrong as quickly as possible, before it’s too late. 

    I yield the floor.

    MIL OSI USA News –

  • MIL-OSI China: Chinese scientists discover ‘rocket effect’

    Source: China State Council Information Office 2

    Chinese scientists have attributed the sudden movement of a boulder on the surface of a comet to a phenomenon known as the “rocket effect,” which resulted from the asymmetric outburst of volatile ice inside the boulder.
    The findings, published in The Astrophysical Journal, are based on data captured by the European Space Agency’s (ESA) Rosetta mission during its two-year close flyby and observation of the comet 67P from 2014 to 2016.
    In 2015, ESA’s Rosetta spacecraft detected the boulder shifting approximately 140 meters northward near the comet’s perihelion. A team led by Shi Xian from the Shanghai Astronomical Observatory of the Chinese Academy of Sciences analyzed high-resolution images and thermal data, concluding that uneven sublimation of volatile ice within the boulder generated thrust, propelling it across the surface.
    The main body of a comet is its nucleus. When it is far from the sun, the comet is just the bare nucleus. As it gets closer to the sun, the ice within the nucleus sublimates, carrying dust to form a coma around the nucleus and trailing a tail behind it.
    By analyzing the thermodynamic history of the boulder and its surrounding area, the research team discovered an asymmetry in the heat accumulation on the northern and southern sides of the boulder. When moving, its inner temperature on the southern side reached a peak, while the northern side remained unusually cold.
    Based on these findings, the researchers proposed a novel mechanism for boulder movement: the volatile ice within the boulder undergoes intense outburst on one side due to asymmetric heating. This process creates a “rocket effect,” generating a net thrust directed downward along the northern slope, which triggers the boulder’s long-distance movement.
    The team also mapped out a detailed timeline of activity and changes in the area where the boulder moved. They noticed that during and after the boulder’s movement, there were frequent outbursts of dust nearby at night, which likely happened because the boulder’s movement exposed icy layers beneath it.
    As remnants of the primordial solar system, comets tell a lot about the early stage of solar system, making them crucial subjects for studying the formation and evolution of planetary systems, Shi said.
    “As our research progresses, we’re discovering unexpectedly diverse comet activities. Understanding the mechanisms behind these could help us unveil the mysteries of the solar system’s evolution and the origins of life,” Shi added. 

    MIL OSI China News –

  • MIL-OSI China: Cross-border telecom fraud gang stands trial

    Source: China State Council Information Office 2

    A total of 23 defendants, including key members of several major telecom fraud groups based in northern Myanmar stood trial in China on multiple charges including crimes that had killed 14 Chinese nationals and injured six others.

    Members of a telecom fraud criminal gang stand trial at Wenzhou Intermediate People’s Court in Zhejiang province. The six-day trial closed on Wednesday. [Photo/Xinhua]
    A local court in Wenzhou, east China’s Zhejiang Province, heard the case from Feb. 14 to 19.
    The defendants included Mg Myin Shaunt Phyin and Ma Thiri Maung, ringleaders of a criminal gang led by their family, as well as major members of the gang and members of other related gangs who served as the “sponsors” of the family’s criminal activities.
    They were facing 11 counts of criminal charges including fraud, intentional homicide, intentional injury, illegal detention, operating casinos, drug trafficking, and organizing prostitution.
    According to the prosecutors, the defendants took advantage of the family’s influence in relevant areas in northern Myanmar and set up several compounds to house criminal gangs, providing armed protection for the operations of the “sponsors” and colluding with them in relevant crimes, such as telecom fraud schemes targeting people in China.
    The gambling and fraud crimes involved funds of more than 10 billion yuan (about 1.4 billion U.S. dollars) and caused the deaths of 14 Chinese nationals and injuries to six other Chinese, the indictment said.
    In a high-profile incident, on Oct. 20, 2023, the gang, in collaboration with the “sponsors,” organized armed escorts to relocate people working for their gangs in an attempt to evade an upcoming crackdown.
    During the relocation, some individuals attempted to escape but were shot by the armed escorts, resulting in multiple deaths and injuries.
    At the trial, prosecutors presented evidence and each defendant and their lawyers examined it. Both sides gave their respective accounts, and the defendants made their respective final statements.
    More than 100 people, including Chinese legislators, political advisors, journalists, family members of those involved, and members of the public, observed the court proceedings.
    The verdict will be announced in due course.
    In addition to the latest trial, several thousand other suspects linked to the criminal groups have been put under investigation after they were linked to more than 10,000 reported telecom fraud cases.
    A prior official statement emphasized that the handling of the case reflects China’s dedication to protecting the legitimate rights and interests of the nation and its citizens.
    The crimes partially took place within Chinese borders, specifically targeted Chinese citizens, and jeopardized the shared interests of the international community, thus granting China jurisdiction under its Criminal Law and international treaties, according to procuratorial sources. 

    MIL OSI China News –

  • MIL-OSI China: Lebanon recovers three antiquities from Switzerland

    Source: China State Council Information Office 3

    Lebanon’s Ministry of Culture received on Wednesday three archaeological artifacts confiscated by Swiss authorities, the state-run National News Agency (NNA) reported.

    The artifacts, which had been illegally removed from Lebanon, include a blue glass bottle with raised decorations, a small headless statue of the goddess Aphrodite dating from the 2nd-3rd century BC, and a small bronze statue from the 2nd century BC.

    The handover is part of the Ministry of Culture’s efforts to protect Lebanon’s cultural heritage and was coordinated with the Lebanese Embassy in Switzerland, according to the NNA.

    The ministry reiterated its commitment to combating the illicit trafficking of cultural property and recovering looted artifacts.

    MIL OSI China News –