Category: China

MIL-OSI USA: Wyden and Biggs Urge New Intel Chief Gabbard to Protect Americans’ Communications From Foreign Surveillance

US Senate News:

Source: United States Senator Ron Wyden (D-Ore)
February 13, 2025
U.S. Must Resist Reported U.K. Efforts to Spy on Americans’ Encrypted Files, They Write in Bipartisan Letter
Washington, D.C. – U.S. Senator Ron Wyden, D-Ore., and Representative Andy Biggs, R-Ariz., today urged Director of National Intelligence Tulsi Gabbard to protect U.S. communications from demands by the United Kingdom that will leave all Americans less secure and more vulnerable to spying by China, Russia, and other adversaries.
Wyden and Biggs wrote in response to reports that the U.K. ordered Apple to build a backdoor into encrypted iCloud backups to enable government surveillance of messages, photos and other files. Apple is barred from even disclosing the U.K. order to the public, or members of Congress, according to the Washington Post.
“If the U.K. does not immediately reverse this dangerous effort, we urge you to reevaluate U.S.-U.K. cybersecurity arrangements and programs as well as U.S. intelligence sharing with the U.K.,” Wyden and Biggs wrote. “The bilateral U.S.-U.K. relationship must be built on trust. If the U.K. is secretly undermining one of the foundations of U.S. cybersecurity, that trust has been profoundly breached.”
Creating a backdoor for the U.K. government would open a glaring new security weakness in all encrypted products subject to the reported order. Weakening American cybersecurity is particularly shortsighted following China’s “Salt Typhoon” hack of U.S. phone networks — which included tapping President Trump and Vice President Vance’s calls. In response, U.S. cybersecurity officials publicly recommended Americans to use encrypted services to secure their calls, texts, and other communications against foreign hackers and criminals.
According to a public report published by the U.K. Parliament’s intelligence oversight committee in 2023, the U.K. benefits greatly from a “mutual presumption towards unrestricted sharing of [Signals Intelligence]” between the U.S. and U.K. and that “[t]he weight of advantage in the partnership with the [National Security Agency] is overwhelmingly in [the U.K.’s] favour.”
Read the full letter to DNI Gabbard here.

MIL OSI USA News –

February 14, 2025
MIL-OSI Security: Former Chinatown Walgreens Manager Pleads Guilty in a Series of Inside-Job Robberies

Source: Office of United States Attorneys

WASHINGTON – London Teeter, 21, of Washington D.C., pleaded guilty today in U.S. District Court to her role in a series of seven inside-job robberies of the Chinatown drug store where she was employed as a store manager.

The plea was announced United States Attorney Edward R. Martin, Jr., FBI Special Agent in Charge Sean Ryan of the Washington Field Office Criminal and Cyber Division, and Chief Pamela Smith of the Metropolitan Police Department

Teeter pleaded guilty to one count of conspiracy to interfere with interstate commerce by robbery (Hobbs Act robbery). The Honorable Jia M. Cobb scheduled sentencing for June 12, 2025. When she is sentenced, Teeter is eligible for up to 20 years in prison and up to a $250,000 fine.

According to court documents, Teeter, and three co-conspirators devised a scheme to carry out armed robberies of the Walgreens store in Chinatown nearly once a month, beginning in July 2023, when either she or her co-conspirator were working. As a store manager, Teeter knew the timing of cash transfers within the business. In each robbery, a masked gunman entered the store, forced an employee into the manager’s office or accessed the manager’s office using a code provided by Teeter or her co-conspirator. The gunman then robbed the employees and fled through a rear exit. Teeter and her co-conspirator took turns pretending to be the “victim” manager on duty, knowing that the robberies would be captured on internal surveillance.

The robberies occurred on July 18, 2023, August 2, 2023, September 2, 2023, November 10, 2023, December 4, 2023, January 9, 2024, and February 11, 2024. Teeter was present in the manager’s office and pretended to be the victim of a robbery during the July 18, 2023, and January 9, 2024, robberies.

In response to the robberies, the Chinatown Walgreens hired armed Special Police Officers to protect the business. Teeter was aware that armed Special Police Officers would be present during the robberies and that a co-conspirator robbed the officers of their firearms during the robberies that occurred on December 4, 2023, and February 11, 2024.

In the plea agreement, Teeter admitted that the co-conspirators stole and split at least $28,983. She also acknowledged that she reviewed surveillance footage from the August 2, 2023, robbery during which a co-conspirator briefly placed his firearm on a chair Teeter acknowledged that she sent a co-conspirator a text message stating: “the vid looks so bad,” “idk why he put the gun down,” and “he can’t do it next time [not gonna lie].”

Law enforcement arrested Teeter on February 22, 2024. During the search of her home that preceded her arrest, law enforcement recovered a loaded Glock 45 pistol loaded with 16 rounds of 9mm ammunition.

Trial dates are pending for co-conspirators Michael Robinson, 34, Kamanye Williams, 25, and Gianni Robinson, 27.

This case is being investigated by the FBI’s Violent Crimes Task Force with assistance from the Metropolitan Police Department (MPD). It is being prosecuted by Assistant U.S. Attorneys Justin F. Song, Sarah Martin, and Special Assistant U.S. Attorney Monica Svetoslavov of the Federal Major Crimes Section.

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MIL Security OSI –

February 14, 2025
MIL-OSI Global: US says European security no longer its primary focus – the shift has been years in the making

Source: The Conversation – UK – By David J. Galbreath, Professor of International Security, University of Bath

European defence ministers left their meeting in Brussels on February 12 in shock after the new US secretary of defence, Pete Hegseth, told them they could no longer rely on the US to guarantee their security.

Hegseth said he was there “to directly and unambiguously express that stark strategic realities prevent the United States of America from being primarily focused on the security of Europe”.

He also insisted that European countries provide the “overwhelming” share of funding for Ukraine in the future. The US has been the biggest source of military aid to Ukraine, with its weapons, equipment and financial assistance crucial in helping Kyiv resist the Russian invasion.

Hegseth’s comments are in keeping with the stance of the US president, Donald Trump, on the Nato transatlantic military alliance. Trump sees Nato as an excessive financial burden on the US and has repeatedly called on its members to increase their defence spending.

But Hegseth’s remarks could also be seen as a sign of America’s waning commitment to the terms of Nato’s founding treaty. Signed in 1949 by the US, Canada and several western European nations, Article 5 of the treaty requires member states to defend each other in the event of an armed attack.

The US has the largest military – and the biggest stockpile of nuclear weapons – in Nato. So, on the face of it, efforts to recast the alliance appear a drastic shift in Europe’s security landscape in the post-cold war era.

However, those familiar with the political sentiment around Nato and the defence of Europe in the US will see that this move follows in the footsteps of what others have sought to do – starting from the very end of the cold war.

Changing over time

In 1991, following the collapse of the Soviet Union, Nato was under considerable pressure to change for the new world order. A rising China was not yet on the minds of many in Washington, but the feeling was that the financial commitments the US had made to defend western Europe during the cold war could not continue.

The so-called “peace dividend”, a slogan popularised by former US president George H.W. Bush and former UK prime minister Margaret Thatcher, allowed nearly all Nato states to reduce their military spending at this time.

In 1992, almost as soon as European Nato countries were shrinking their forces and moving away from mass armies to professional soldiering, the alliance became actively engaged in maintaining a no-fly zone over Yugoslavia.

A new Nato was becoming apparent. It was transitioning from being a collective defence organisation to one of collective security, where conflicts were managed on Nato’s borders.

A US fighter jet at Aviano air base, Italy, after a mission over Bosnia to enforce the no-fly zone in 1993.
Sgt. Janel Schroeder / Wikimedia Commons

This collective security arrangement worked well to keep the alliance together until 2001, when the administration of George W. Bush entered the White House and involved the US in wars in Afghanistan and Iraq. Following the 9/11 terrorist attacks in the US, Nato invoked Article 5 and returned to the principle of collective defence.

Many European countries, including the new, smaller Nato states like Estonia and Latvia, sent troops to Iraq and Afghanistan. The persistent justification I heard in the Baltic states was “we need to be there when the US needs us so that they will be there when we need them”.

Yet in 2011, before the wars in Iraq and Afghanistan were over, the administration of Barack Obama introduced a foreign policy strategy known as the “pivot to Asia”. The implication was that the US would shift its attention from primarily the western hemisphere to China.

By this point, China had become the second-largest economy in the world and was rapidly developing its military. The reaction to this US policy shift in European capitals was one of shock and disappointment. They saw it as the US deciding that its own security did not sit in Europe like it had since 1945.

Then, in 2014, Russia invaded Crimea and the Donbas in eastern Ukraine. The pivot to Asia looked like it had stalled. But US interest and investment in European defence continued to decline, with American military bases across Europe closed down. The first Trump administration continued the pattern set by Obama.

President Joe Biden, who entered office in 2021, used Russia’s invasion of Ukraine in 2022 to show European leaders that the US still saw its own security in Europe and that it would stand beside Ukraine.

But the US continued to insist that European countries invest in their own defence. The UK, Poland and France have all committed to increase their defence spending over recent years – though spending by European Nato states as a whole continued to fall.

There has been a long-held belief in the US that Europe is “freeriding” on American power. While the US saw its own security in Europe, this freeriding was allowed to continue.

But as the perspective of the US has changed, with the focus now on countering China, it has been keen to suggest that European defence should increasingly become the job of Europe itself.

Nato will not go out with a bang. It is much more likely to gradually disappear with a whimper. After all, who did Trump meet on his second day in office? Not Nato but the Quad: an alliance between Australia, India, Japan and the US in the Indo-Pacific.

David J. Galbreath has received research funding from the UKRI.

– ref. US says European security no longer its primary focus – the shift has been years in the making – https://theconversation.com/us-says-european-security-no-longer-its-primary-focus-the-shift-has-been-years-in-the-making-249813

MIL OSI – Global Reports –

February 14, 2025
MIL-OSI Global: How Asian immigrants to the U.S. resisted pressures to assimilate, creating a vibrant American suburbia

Source: The Conversation – Canada – By Bianca Mabute-Louie, Sociology PhD candidate, Rice University

This article is adapted from UNASSIMILABLE: An Asian Diasporic Manifesto for the 21st Century by Bianca Mabute-Louie (HarperCollins, January 2025).

I grew up in San Gabriel Valley — also referred to as SGV or the 626. SGV is an ethnoburb — an ethnic enclave — that grew out of the 1970s, with its own economy and ecosystem that includes banks, grocery stores, hair salons and restaurants.

Since many early Asian immigrants to this country were barred from accessing white institutions, working together to build and protect this ethnic ecosystem was a matter of survival and necessity.

Wei Li, a Chinese American geographer, first proposed the term “ethnoburb” to describe the hybridity of ethnic enclaves and middle-class suburbs: suburban ethnic clusters of people and businesses.

The ethnoburb demonstrates that we can create our own power and belonging — without learning English, without participating in white institutions, and Americanizing. It is a communal endeavour, one that requires everybody’s imagination and care.

The ‘Chinese Beverly Hills’

Fuelled by foreign capital, ethnoburb immigrants redefined the entire landscape of the suburb and instigated an economic boom. The growth of Chinese American banking institutions, along with the political and economic factors that prompted the migration of wealthy ethnic Chinese from Taiwan and Hong Kong, played an important role in facilitating the Chinese economic growth in Monterey Park, a city in San Gabriel Valley.

With their resources, Chinese immigrants bought homes and started businesses with distinct Chinese and Vietnamese language signs to cater to fellow Asian transplants. Valley Boulevard, which runs through 10 cities in San Gabriel Valley, became home to Asian-owned malls, commercial plazas, office complexes, shops, hotels and industrial plants, often with trilingual signage in Chinese, Vietnamese and English.

Asian immigrants transformed neglected strip malls into prosperous Asian marketplaces and forged a sense of permanence and community. Monterey Park, and eventually the rest of San Gabriel valley, began to be referred to as “Little Taipei” or the “Chinese Beverly Hills” by journalists and Chinese diasporic media.

By the 1980s, Monterey Park was known as “the first suburban Chinatown,” converting San Gabriel Valley from predominantly white suburbs into an Asian-majority ecosystem with a conspicuous and diverse first-generation, unassimilated immigrant presence.

Bypassing urban Chinatowns for the suburbs

The ethnoburb troubles the American construction of the suburbs as static sites of whiteness and socioeconomic mobility.

The majority of new immigrants, especially those with resources, bypassed urban ethnic enclaves like Chinatown that previously served as immigrant gateway cities and settled immediately into suburbs instead.

Min Zhou, a professor of sociology and Asian American Studies at UCLA, argues that the deliberate preservation of ethnic values, ties and institutions is what actually acclimates non-white immigrants to the U.S.

Zhou also says the direct insertion of new Asian immigrants into traditionally white middle-class suburbs offends the conventional understanding of immigration and assimilation. Ethnoburb immigrants were non-white, didn’t always speak English, made considerably less effort to acculturate into whiteness, and many of them were already educated and affluent. They broke the bounds of the American imagination of an immigrant.

In addition to higher levels of education and incomes, many ethnoburb immigrants also possessed expansive and transnational social networks that shaped their reluctance to acculturate. They did not need to learn English or go through the ethnic enclave to reach a middle-class dream of financial stability.

The ethnoburb was not a “staging ground” for somewhere better or whiter. The ethnoburb was the final desired destination.

In actuality, contrary to popular conceptions, the ethnoburb was not apolitical or insular at all. It was and remains a site of resistance against the confining, white imagination of suburbia. With the emergence of Monterey Park as an Asian ethnoburb, questions over group identity, spatial boundaries, and the character of Monterey Park became politicized.

White hostility in an ‘all-American’ city

Nativist white residents were at the forefront of erecting boundaries of belonging that stigmatized first-generation immigrants. In addition to Asian businesses changing the esthetic and cultural identity of Monterey Park, Asian immigrants took on local politics. This direct insertion of unassimilated Asian immigrants into traditionally white suburbs and its institutions troubled conventional American understandings of who an immigrant is, the norms they should follow, and how they should behave.

Lily Lee Chen’s official portrait as mayor of Monterey Park, California, 1983. The Huntington Library, Art Museum, and Botanical Gardens.

On Nov. 8, 1983, Lily Lee Chen, a first-generation immigrant from Taiwan, was inaugurated in Monterey Park as the first Chinese American mayor in the nation. Chen was relatable, charismatic, and not assimilated. The Los Angeles Times described Chen’s speech as “accented with pauses and grammatical errors, characteristic of someone speaking in their second language.”

In another Times article from 1985, Chen told the reporter that she enjoyed dressing in bright reds and jade greens, despite being told by her consultant to look more subdued because her bright colours made her appear “aggressive.” During her campaign, she was met with fierce resistance from white residents, who commonly took down her neighbourhood campaign signs.

As a response, Chen worked tirelessly on voter engagement among Asian Americans and Latinos, publishing multilingual voter handbooks, registering voters, and building relationships with ethnic communities, including working with Cesar Chavez to support the Latinos in Southern California.

The same year as Chen’s election, Monterey Park’s five-member city council became multiethnic, with two Mexican Americans, one Filipino American, one Chinese American, and one white council member.

As Monterey Park became touted as a “successful suburban melting pot” by journalists and even won an “All-American City” award in 1985 for its civic engagement and racial diversity, white flight accelerated and resentment festered among the minority of white residents.

The large influx and increasing influence of Chinese immigrants over a short period of time caused racial tension to build, with mounting struggles over cultural differences, language barriers, and explicit mistrust of immigrants. Chinese businesses, political candidates, religious institutions, and entrepreneurs became racialized targets of nativist animus.

A particularly contentious conflict emerged over the proliferation of business signs in languages other than English. In 1986, white hostility among the remaining white residents swept the council members of colour out of office, and replaced them with three long-established white residents, who promptly launched an anti-immigrant, “English-only” campaign attacking the proliferation of business signage in Chinese.

A scene from the 2010 play by Annette Lee about the English only movement from the 80s. 17-year-old Scarlett Wong, an ‘all-American teenager’ struggles with her neighbors who don’t speak English.
Angry Asian Man/Annette Lee

The “English-only” movement in Monterey Park reflects the struggle to control the identity and narrative of a built environment. It represents the tension between America’s idea of how immigrants should assimilate, and how ethnoburb immigrants instead created their own unassimilable institutions and communities.

Frank Arcuri, one of the Monterey Park residents and community activists who started the “English-only” petition campaign, insisted, “Immigrants are welcome here, but they must realize that English is the language we use in America… They must realize they are making a negative impact on our city. They must adapt to our ways. They must use our language and respect our culture.”

The nativist, inflammatory rhetoric Arcuri employed to speak about immigrants is as American as apple pie, comparable to replacement theory touted by white nationalist conspiracists today.

The English-only conflict illustrates the deeper, ideological tensions behind an increasingly diverse and polyglot constituency, composed of politically active immigrants, and nostalgic white residents desperately (and at times violently) clinging on to institutional power and a homogeneous past.

Asian immigrants defied assimilation theories

Traditionally, sociologists of immigration and assimilation theorists believed that all immigrant groups would eventually assimilate and integrate into white Protestant American institutions, culture, and society. They argued that doing so would be in the best interests of immigrants. They were also all white scholars. For the most part, what they theorized was true for European immigrants.

However, Asian immigrants in the ethnoburb remained proudly unassimilable and trans-national. While the ethnoburb was their final destination, they maintained diasporic ties. Many with socioeconomic privilege shuttled back and forth to their home countries.

It is our diasporic connections to our motherlands and our ethnic communities, not necessarily our assimilation into whiteness, that help us thrive in the U.S.

Bianca Mabute-Louie is affiliated with Asian Texans for Justice.

– ref. How Asian immigrants to the U.S. resisted pressures to assimilate, creating a vibrant American suburbia – https://theconversation.com/how-asian-immigrants-to-the-u-s-resisted-pressures-to-assimilate-creating-a-vibrant-american-suburbia-247184

MIL OSI – Global Reports –

February 14, 2025
MIL-OSI United Nations: UNECE issues guidance to tackle methane emissions from coal mine ventilation systems
Source: United Nations Economic Commission for Europe

In the fight against climate change, emissions of methane – which has a warming effect over 80 times greater than CO2 over a 20-year timeframe – from coal mines remain a significant source of greenhouse gases (GHG). Coal mines account for over 10% of methane emissions from human activity. As long as coal’s share in the global energy mix remains significant, mitigating large emissions associated with its extraction presents an under-exploited and under-capitalized opportunity to deliver near-term GHG emissions cuts.

Gassy underground coal mines employ large-scale ventilation systems that pump fresh air into the workings to dilute and remove methane released during mining operations. This ventilation air, discharged through dedicated (ventilation) shafts, contains methane in concentrations typically ranging from 0.1% to 1.0% by volume, known as Ventilation Air Methane (VAM). While removing methane from the mine is necessary for maintaining safe underground working conditions, the continuous discharges of large volumes of VAM constitute a significant source of greenhouse gas emissions.

A new UNECE report developed by the UNECE Group of Experts on Coal Mine Methane and Just Transition sheds light on the urgency of tackling VAM emissions. A single ventilation shaft in an operating coal mine can expel up to 50,000 tonnes of methane annually – equivalent to the emissions (CO2e) generated by 2 million cars. Since coal mines are expected to continue to operate for at least the next two decades, reducing these emissions presents an immediate and effective way to slow down climate change, complementing scaled-up decarbonization efforts.

The report “Best Practice Guidance on Ventilation Air Methane Mitigation” highlights the cost-effectiveness of VAM mitigation. Advanced technologies, such as Regenerative Thermal Oxidation (RTO), have been successfully deployed in large-scale, long-term projects, proving the technical viability of VAM mitigation. RTO installations are actively reducing methane emissions at coal mines in the United States and China. For such projects to be economically sustainable, the value of emission reductions must reach approximately USD 20 per tonne of CO2e – an economically feasible target when compared to other climate mitigation efforts.

The cost of a VAM mitigation plant is all about the volume of air being processed, and therefore the methane content in the ventilation air to be processed is a key factor determining the revenue and thus also the economic viability of the plant. A plant processing VAM concentration of 0.2% will have a total cost per mitigated tCO2e around USD $20. Where such mechanisms exist, this cost could be balanced by Carbon Emission Reduction Credits, or by avoided emissions penalty.

Despite its potential, VAM mitigation faces technical challenges. Methane concentrations in ventilation air are often very low, and mine shafts release vast volumes of air. The report emphasizes that only one technology, RTO, has consistently reduced methane emissions from coal mines, though other catalytic processes are emerging.

The report aligns with global efforts to address methane emissions, including the Paris Agreement and the Global Methane Pledge, which aims to cut methane emissions by 30% by 2030. In this context, VAM mitigation could play a key role in achieving these ambitious objectives.

This Best Practice Guidance on VAM serves as a call to action for the mining industry and policymakers, underscoring the significant potential of VAM mitigation as a cost-effective solution to reduce emissions.

The report provides practical guidance on securing financial support, assessing the feasibility of VAM mitigation plants, and understanding the key aspects of technology integration. It also offers a clear 8-step model for preparing potential VAM projects, making this complex topic accessible and actionable.

For further information and/or to access the Best Practice Guidance report, please visit https://unece.org/sustainable-energy/publications/best-practice-guidance-ventilation-air-methane-mitigation

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In addition to the Best Practice Guidance, the UNECE Group of Experts on Coal Mine Methane and Just Transition – through its Task Force on Methane Emissions Reduction – has developed complementary resources to further support methane monitoring and mitigation efforts. These include:
- Template for Estimating Emissions from Underground Coal Mines – A user-friendly tool designed to improve emissions data collection for policymakers and companies. This template streamlines the tracking of methane emissions, destruction, and off-site transportation, and accounts for avoided methane emissions and CO2 emissions resulting from these processes.
Join the Discussion at the UNECE Resource Management Week 2025

The UNECE Resource Management Week 2025 (24–28 March, Geneva), and particularly the meeting of the Group of Experts on Coal Mine Methane and Just Transition, will provide a platform to discuss methane mitigation strategies, including the VAM Best Practice Guidance, which will be presented for endorsement.

Bringing together policymakers, industry representatives, and experts, the event will facilitate discussions on innovative solutions, financing mechanisms, and regulatory approaches to support methane emission reductions.

Register here.

MIL OSI United Nations News –
February 14, 2025
MIL-OSI: Integration of Emerging Technologies for Military Drone Market Presenting a Significant Growth Opportunity

Source: GlobeNewswire (MIL-OSI)

PALM BEACH, Fla., Feb. 13, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The surge in global defense budgets has had a significant impact on the Global Military Drone Market. As political tensions rise worldwide, nations are investing in cutting-edge unmanned aerial systems (UAS) to bolster their defense and security capabilities. Increased defense expenditure has allowed countries like the United States, China, and other NATO members to allocate substantial funds to advanced drone programs, enhancing surveillance, supporting combat missions, and improving autonomous drone features. A recent report from an industry expert said that: “The growing demand for real-time intelligence in dynamic, complex military environments has significantly increased the need for sophisticated drones equipped with advanced surveillance and reconnaissance capabilities. Military drones are now integrated with cutting-edge technologies such as high-resolution cameras, infrared sensors, and other advanced systems that enhance situational awareness for both tactical operations and comprehensive intelligence gathering. For instance, the Northrop Grumman RQ-4 Global Hawk is capable of surveying over 40,000 square miles in a single day, providing extensive monitoring of large areas. This level of surveillance is invaluable for sustained military operations in regions like Ukraine and other conflict zones, where real-time intelligence is crucial for strategic decision-making and operational effectiveness.” Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), AeroVironment (NASDAQ: AVAV), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), L3Harris Technologies (NYSE: LHX), Unusual Machines (NYSE: UMAC).

The article continued: “The integration of emerging technologies into military drones presents a significant growth opportunity for the market. Technologies such as artificial intelligence (AI), machine learning, autonomous navigation systems, and advanced sensors are revolutionizing the capabilities of military drones. AI-driven systems, for instance, can enable drones to analyze vast amounts of real-time data, enhancing decision-making and targeting accuracy. Autonomous navigation allows drones to operate with minimal human intervention, improving operational efficiency and reducing the risk to personnel. For example, the U.S. military has incorporated AI into its MQ-9 Reaper drones to enhance autonomous targeting and surveillance capabilities, allowing for more precise missions in complex environments.”

ZenaTech (NASDAQ:ZENA) ZenaDrone Subsidiary Develops and Tests Proprietary Drone Communications System Enabling Secure and Reliable Communications for US Defense Applications – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that its subsidiary ZenaDrone has developed and is currently testing a proprietary drone communications management system called “DroneNet” that enables direct and secure drone communications in situations without reliable internet, cellular or satellite communications. The internally developed system is specifically built for use with the Company’s ZenaDrone 1000 and IQ series of drone products. A drone communications system is a two-way link between a drone and its base station used to direct the drone and relay real-time drone video and sensor data.

“We believe our proprietary DroneNet communications system will improve both the reliability and performance of our drones ensuring we are not dependent on third-party products with compatibility issues. This internal development ensures we gain more customization of our products, cost management, and control of our supply chain, all of which results in what we believe to be superior drone solutions. Once we’ve tested this initial version, our plan for future advancements includes developing and testing our own microchips with multilayer encryption suitable for NDAA-compliant use required for US Defense applications,” said CEO Shaun Passley, Ph.D.

Drones used by the military for intelligence, surveillance and reconnaissance applications require reliable communications systems for uninterrupted data transmission, mission effectiveness, and operational security. Drones must relay real-time video, sensor data, and telemetry to command centers, allowing defense operators to make time-sensitive decisions. This is especially critical for Beyond Visual Line of Sight (BVLOS) operations, where drones operate over longer distances often in harsh or contested environments. Without secure and resilient communications links, drones risk losing control, can face signal jamming, or data latency, which can compromise mission success. Advanced proprietary communication solutions, using satellite and 4G help ensure connectivity in GPS-denied or high-interference environments and can safeguard data against jamming and cyber threats.

The ZenaDrone 1000 is an autonomous drone, in a VTOL (Vertical Takeoff and Landing) quadcopter design with eight rotors; it is considered a medium-sized drone measuring 12X7 feet in size. It is designed for stable flight, maneuverability, heavy lift capabilities up to 40 kilos, incorporating innovative software technology, AI, sensors, and purpose-built attachments, along with compact and rugged hardware engineered for industrial and defense use. Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

Other recent developments in the markets include:

AeroVironment (NASDAQ: AVAV), through its wholly owned subsidiary Arcturus UAV, has recently been awarded a contract by the Danish Defense Acquisition and Logistics Organization (DALO) with a contract ceiling value of $181 million to deliver the JUMP^® 20 medium uncrewed aircraft system (UAS) to the Danish Armed Forces. This 10-year program of record will equip the Danish Army with JUMP 20 systems to enhance intelligence, surveillance, and reconnaissance (ISR) operations, reinforcing AV’s position as a global leader in advanced autonomous solutions.

JUMP 20 is a vertical take-off and landing (VTOL), fixed-wing UAS with 13+ hours of endurance and an operational range of 185 km (115 mi). Runway independent, the system is easily storable and transportable, and can autonomously launch and land at speed without personnel intervention, making it ideal for on-the-move operations.

Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in Defense, National Security and Global Markets, recently announced a $34,856,449 award modification to a previously awarded cost-plus-fixed-fee contract from the U.S. Marine Corps. The expanded scope is to support the XQ-58A Unmanned Aerial Systems mission systems and subsystems integration for the Marine Air-Ground Task Force Unmanned Aerial System Expeditionary (MUX) Tactical Aircraft (TACAIR).

Since 2022, Kratos and its industry partner, Northrop Grumman, have been working with the U.S. Marine Corps to define operational requirements for the MQ-58 Valkyrie variant. The team recently demonstrated advanced collaborative capabilities during the Penetrating Affordable Autonomous Collaborative Killer Portfolio (PAACK-P) program, which is transitioning to MUX TACAIR in 2025. The modification contract provides the additional non-recurring engineering and material to support the planned spiral developmental efforts, as well as additional flight tests for the continuing capability enhancement of the Valkyrie system.

L3Harris Technologies (NYSE: LHX) has recently introduced AMORPHOUS™, its new software that features a single user interface to operate thousands of autonomous assets simultaneously. Designed with an open architecture, this software enables the United States and allied militaries to control a mix of uncrewed platforms, payloads and systems, even if another manufacturer produces them.

AMORPHOUS, which stands for Autonomous Multi-domain Operations Resiliency Platform for Heterogeneous Unmanned Swarms, includes an intuitive and distributed command-and-control interface to give operators the flexibility to conduct a wider array of intricate military missions. This collaborative autonomy at scale will provide warfighters with a decisive overmatch capability.

Unusual Machines (NYSE: UMAC) has recently announced the signing of a binding agreement to acquire of Aloft Technologies, Inc. (https://www.aloft.ai/), the leading FAA-approved provider of unmanned aerial system (UAS) services to enterprise, public safety, and government customers. The acquisition is almost all in stock, valued at $14.5M.

The proposed acquisition brings together companies that share commitment to strengthening the U.S. drone industry. Aloft Technologies has long been recognized as the leader in the drone fleet and airspace management sector, powering more than 70% of all FAA-approved Low Altitude Authorization and Notification Capability (LAANC) airspace authorizations in the United States. Aloft has provided more than more than 1.6 million authorizations in total, with 400,000 authorizations provided in 2024.

Aloft has been able to leverage the data collected through millions of safe flights and airspace interactions to launch Air Boss, their new real-time UAS air traffic management (UTM) software. With the FAA forecasting more than 3 million drones in the airspace by 2028, outnumbering traditional aircraft more than 10-to-1, the coordination and integration of all aircraft is critical to national security and the national economy.

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The MIL Network –

February 14, 2025
MIL-OSI: Sale of LNGC Golar Arctic Marks Golar’s Exit From LNG Shipping Segment

Source: GlobeNewswire (MIL-OSI)

Golar LNG Limited (“Golar”) announces today that it has executed agreements to sell the 2003 built steam turbine LNG carrier, Golar Arctic. The sale price for the vessel is USD 24 million before transaction related expenses. The LNG carrier is unencumbered. The transaction is expected to close, and the vessel is to be handed over to its new owner, within Q1 2025. The Golar Arctic is the last LNG carrier in the Golar fleet. Following the vessel sale, Golar will have fully exited its legacy shipping business.

The LNG carrier Fuji LNG discharged its final cargo as an LNG carrier in January 2025, and has now arrived in China preparing to enter CIMC shipyard for conversion into a MKII FLNG later this month.

Golar CEO Karl Fredrik Staubo commented: “The sale of the Golar Arctic marks the conclusion of Golar’s planned exit from the LNG shipping segment, 50 years after taking delivery of our first LNG carrier in 1975. Over the last 50 years LNG shipping has been the foundation for Golar’s pioneering maritime LNG infrastructure advances, including FSRUs and FLNGs. Golar’s transition into a focused FLNG infrastructure company is now complete. We look forward to expanding our market leading FLNG position.”

FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management’s current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue,” “subject to” or the negative of these terms and similar expressions are intended to identify such forward-looking statements.

These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Golar LNG Limited undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.

Hamilton, Bermuda
February 13, 2025

Investor Questions: +44 207 063 7900
Karl Fredrik Staubo – CEO
Eduardo Maranhão – CFO
Stuart Buchanan – Head of Investor Relations

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

The MIL Network –

February 14, 2025
MIL-OSI China: China’s economy poised for steady growth in 2025: central bank

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

BEIJING, Feb. 13 — China’s economy is expected to maintain stable growth in 2025, according to the Q4 2024 monetary policy report released by the People’s Bank of China on Thursday.

Stimulus measures rolled out in late 2024 have already begun to revitalize production, demand, and market sentiment, which will further sustain the recovery momentum, according to the report.

Domestic demand has shown great potential for improvement, with measures to boost consumption and investment delivering standout results. Notably, retail sales for home appliances jumped 11.8 percent year on year in 2024.

China will adopt a more proactive fiscal policy and a moderately loose monetary policy, prioritizing the stabilization of prices at reasonable levels, the central bank said.

Monetary authorities will deepen market-driven exchange rate reforms, strengthen foreign exchange market resilience, and enhance cross-border capital flow monitoring, in a bid to ensure the yuan remains stable at an equilibrium level.

China will accelerate institutional reforms and high-standard financial market opening, with measures to advance the yuan’s global use in cross-border trade and investment, and deepen international currency cooperation, the central bank added.

MIL OSI China News –

February 14, 2025
MIL-OSI Global: Trump and Maduro refresh a complex relationship governed by self-interest and tainted by Venezuela election fraud

Source: The Conversation – USA – By Paul Webster Hare, Master Lecturer and Interim Director of Latin American Studies, Boston University

Venezuelan President Nicolas Maduro with Richard Grenell, President Donald Trump’s special envoy, in Caracas, Venezuela, on Jan. 31, 2025. Venezuela’s presidential press office, via AP

In 2019, President Donald Trump recognized then-Venezuelan opposition leader Juan Guaidó as the country’s interim leader over Nicolás Maduro, who has ruled the country since 2013.

The policy, which led Venezuela to officially sever ties with the United States, was consistent with the first Trump administration’s policy of maximum pressure and a desire for regime change when it came to the socialist government in Caracas.

Fast forward six years: The early days of Trump’s second administration has seen the U.S. president negotiate with Maduro over the release of detained Americans and an apparent willingness from Venezuela to receive hundreds of thousands of its nationals being deported from the U.S.

As a diplomat who served in Venezuela and knew Maduro’s predecessor and mentor, Hugo Chavez, I detect a subtle shift in the evolving Trump administration’s policy toward Venezuela. It’s true that the administration retains a strong dose of the anti-Maduro posture it held last time, particularly in light of Maduro’s widely denounced election fraud in 2024 and an undercurrent of antipathy in Washington toward left-wing authoritarianism in Latin America.

But U.S.-Venezuela relations under a second Trump term are subject to other factors and dynamics, including Trump’s desire to be known for deal-making and the fulfillment of his campaign promise to deport immigrants back to Latin America. At the same time, Trump needs to balance satisfying anti-Maduro voices in his coalition with not pushing Venezuela further toward China, a country all too willing to exert greater influence in parts of Latin America.

Deal-making and immigration

So far, the second Trump’s administration seems to be sticking to the line of not officially recognizing Maduro and preferring his departure from the scene. It has kept sanctions on the country intact and continues to recognize Maduro’s opponent, Edmundo González, as the legitimate president-elect.

But that hasn’t stopped the administration from pursuing negotiations. In late January, Trump’s envoy Richard Grenell visited Caracas to secure the release of six Americans accused by Venezuela of plotting to destabilize the country. Trump subsequently announced that Maduro would accept repatriation of deportations of Venezuelans in the U.S. The U.S. administration also revoked the Temporary Protected Status, a categorization prioritized by President Joe Biden, for hundreds of thousands of people who fled Maduro’s Venezuela.

On Feb. 10, two Venezuelan planes returned home from the U.S with nearly 200 deported Venezuelan nationals, a signal that negotiations between the two nations were more than just optics. But news that the Trump administration has sent Venezuelan detainees to a U.S. military camp at Guantanamo Bay in Cuba – and is trying to send more – could yet prove a thorn in the side of any diplomatic thaw.

Regardless, the shift in stance on Venezuela has raised eyebrows among some Republicans and Democrats alike. Their concern is that Grenell’s visit – and overtures from the White House – gives Maduro’s regime a veneer of legitimacy.

But so long as Trump feels Venezuela under Maduro is useful to his aims of deportations, other U.S. issues with the government in Caracas are, I believe, likely to remain of secondary importance.

Rhetoric vs. reality

The complicated dynamic of two men, ideologically opposed but aware of the other’s usefulness, is reciprocated by Maduro. The Venezuelan leader congratulated Trump on his election victory in November, and he appears to treat his more powerful adversary with some pragmatism. But Maduro also remains willing to take a strident line rhetorically, even suggesting that Venezuela might “liberate” Puerto Rico if the U.S. keeps meddling with Venezuela’s affairs.

Rhetoric aside, Maduro – as evidenced by his apparent willingness to deal with the new administration on hostages and immigration – is likely to pursue self-interest where possible. And he will be well aware that the survival of his rule may be tied with his country’s economic situation.

Venezuela has been hit hard by U.S. sanctions that have been in place since 2017.

The level of poverty in the country is estimated to be around 80% of the population. This bleak economic picture is improving slowly but is still hampered by sluggish oil production despite having vast reserves.

Under Biden, the U.S. granted some exemptions for oil companies to work in Venezuela despite sanctions, helping the struggling export industry to recover some of its lost productivity.

Maduro will want to see where he can work with the Trump team to continue such allowances and avoid a full embargo. But recent noises coming from the administration have been mixed on this front. On Jan. 20, Trump suggested that he may pull the plug on Venezuelan oil exports to the U.S. “We don’t have to buy their oil. We have plenty of oil for ourselves,” he said.

Such a move would be a severe blow to Venezuela’s economy, which has benefited from increased exports to the U.S. in recent years. But the move will likely face resistance from oil producers like Chevron, the American company that has a license to operate in Venezuela.

Election fraud and beyond

It’s plausible Trump will be swayed by the elements of his base or administration who view Venezuela primarily in terms of a socialist authoritarian adversary to be defeated.

In 2024, Maduro pulled off one of Latin America’s great election frauds. Computer printouts had shown the opposition campaign of González and Maria Corina Machado won the July election by a landslide. And yet, Maduro declared himself the winner with no evidence.

Many in Trump’s circle viewed the fraudulent election as another reason for being hawkish toward the nation – a position that takes in both ideological and electoral considerations.

Trump knows there is a strong base of anti-communist Venezuelans in Florida who want to be tough on the Cuban-aligned government of Maduro. The new U.S. administration’s deportation policy has already concerned some among this strongly Trump voting base; any relaxation on Maduro could be seen as a further “betrayal.”

And Trump has appointed several people who have long been critical of Maduro, including his national security adviser, Mike Waltz, and Secretary of State Marco Rubio.

Rubio, in particular, is a longtime critic of any accommodation with Venezuela. He has spoken to opposition leaders, called González the legitimate president, blasted any relaxation of sanctions and, during his confirmation hearing, labeled Maduro’s government “a narco-trafficking organization.”

U.S. Secretary of State Marco Rubio, right, oversees a ‘seized’ sign being placed on a Venezuelan government airplane on Feb. 6, 2025.
Mark Schiefelbein/AFP via Getty Images

And while U.S. envoy Grenell has been shaking hands with Maduro, Rubio has been seizing the Venezuelan leader’s aircraft. On Feb. 6, the U.S. secretary of state personally oversaw its confiscation while visiting the Dominican Republic, where it had been impounded since last year.

Competition with China

During his first administration, Trump failed in his efforts to encourage the replacement of Maduro.

In any case, the Venezuelan government under Maduro, like Chavez before him, has shown itself capable of withstanding U.S. pressure.

Throwing a further wrinkle to any U.S. intentions of influencing the future of Venezuela is the role China has taken on in the country and Maduro’s increasing closeness with Beijing. In contrast to leaders in the West, China’s president, Xi Jinping, congratulated Maduro following the latter’s claim of victory in 2024. China is the leading importer of Venezuelan crude oil and has signed a series of bilateral trade and tourism pacts that have provided Maduro an economic lifeline.

To some U.S. hawks, China’s influence with Maduro represents a breach of a long-standing vision of the U.S. as a regional hegemony, as envisioned by the Monroe Doctrine. Yet other voices within the administration – including Trump, who has spoken positively about diplomatic overtures to Beijing, or Elon Musk, who has extensive business interests in China – view the country in far different terms than predecessors.

Ultimately, whatever path Trump chooses on relations with Venezuela is likely to be conditioned on what factions win out in his administration and which political constituencies the president is most keen to please.

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

– ref. Trump and Maduro refresh a complex relationship governed by self-interest and tainted by Venezuela election fraud – https://theconversation.com/trump-and-maduro-refresh-a-complex-relationship-governed-by-self-interest-and-tainted-by-venezuela-election-fraud-248275

MIL OSI – Global Reports –

February 14, 2025
MIL-OSI China: Book about Xi’s thoughts on improving ethnic work published

Source: China State Council Information Office 2

A book about the thoughts of Xi Jinping, general secretary of the Communist Party of China Central Committee, on enhancing and improving ethnic affairs work has been published and distributed nationwide.
The book elaborates on the essence, principles, contents, and practical requirements of Xi’s thoughts in this regard, explaining them from the perspectives of historical context, key tasks, main priorities, and essential guarantees.
The book, jointly published by the People’s Publishing House and The Ethnic Publishing House, provides useful material for Party members, officials and the public to study Xi’s thoughts on promoting work related to ethnic affairs.

MIL OSI China News –

February 14, 2025
MIL-OSI China: Hamas says to implement Gaza ceasefire agreement

Source: China State Council Information Office

Hamas confirmed on Thursday that it would continue implementing the ceasefire agreement with Israel as signed, including the exchange of Palestinian prisoners and Israeli hostages according to the agreed timetable.

In a statement, Hamas said its delegation had held talks in Cairo with mediators to discuss the implementation of the ceasefire agreement and the prisoner-for-hostage exchange, especially in the wake of what it described as “the successive Israeli violations” of the deal.

The discussion focused on the necessity of implementing all provisions of the agreement, especially with regard to securing housing for Gazans and the urgent entry of prefabricated houses, tents, heavy equipment, medical supplies, fuel, and the continued flow of relief, as well as other things as stipulated in the agreement, it said.

The statement added that mediators from Egypt and Qatar had confirmed their commitment to addressing obstacles and closing gaps to ensure implementation.

Hamas announced on Monday that the handover of the hostages who were scheduled to be released on Saturday would be postponed until further notice.

In response, Israeli Prime Minister Benjamin Netanyahu said on Tuesday that his country would resume “intense fighting” if Hamas fails to meet the deadline, without specifying the number of hostages to be released.

Hamas’ decision prompted U.S. President Donald Trump to suggest that Israel cancel the agreement entirely, saying all hostages must be freed by noon on Saturday or he would “let hell break out.”

MIL OSI China News –

February 14, 2025
MIL-OSI China: At least 28 injured as car rams into crowd in Munich

Source: China State Council Information Office

At least 28 people, including children, were injured after a car plowed into a crowd in Munich, Germany, on Thursday, local police reported.

According to Munich police, some of the victims sustained serious injuries.

Bavarian State Premier Markus Soeder described the incident as a “suspected attack.” Authorities identified the driver as a 24-year-old Afghan asylum seeker, who was detained at the scene.

“There is no further danger from him at the moment,” Munich police spokesman Thomas Schelshorn said.

Media reports indicated that the crowd was participating in a demonstration linked to a strike when the crash occurred. Bavarian Radio cited an eyewitness who claimed the driver deliberately drove into the group.

The incident comes as Munich braces for heightened security ahead of the Munich Security Conference, a major gathering of foreign policy experts and global leaders set to begin on Friday. The conference venue is located approximately 1.6 km from the crash site.

MIL OSI China News –

February 14, 2025
MIL-OSI China: China launches hotlines, awareness campaigns to bolster mental health services

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

BEIJING, Feb. 13 — A total of 18 provincial-level regions in China, including Beijing, Shanghai and Zhejiang, have launched the 12356 mental health assistance hotline, aiming to provide the public with more accessible, high-quality mental health services, a Chinese health official said on Thursday.

Other provinces are actively progressing with similar initiatives to ensure comprehensive mental health services coverage nationwide, Hu Qiangqiang, a spokesperson for the National Health Commission (NHC), said at a press conference.

Hu noted that the NHC has designated 2025 to 2027 as “pediatrics and mental health service years,” and outlined other key measures such as promoting mental health knowledge among key groups and guaranteeing that every city-level region has at least one hospital with specialized psychological and sleep disorder clinics.

During the period, over 5,000 lectures on mental health will be organized nationwide, according to Hu.

MIL OSI China News –

February 14, 2025
MIL-OSI United Kingdom: Business Secretary sets out ambition for further, faster growth

Source: United Kingdom – Government Statements

Business Secretary Jonathan Reynolds spoke at Samsung KX in London on 13 February 2025.

Good morning, and thank you very much for that warm introduction, Alan, and my sincere thanks to the whole team here at Samsung for so generously hosting us, today.

It’s actually quite emotional to be honest, it would have been someone like my grandfather who dug out that coal, sent it down here, and a few generations later I get to be on this stage doing this.

But Samsung is a company synonymous with the best in cutting-edge design and innovation; and much of it is on full display here within these four walls.

It is a fitting venue to discuss this government’s ambition to go further and faster in our growth mission…ensuring that your investments that you outlined here in the UK pay dividends.

Three years ago, I gave my first speech as the then Shadow Business Secretary – and I promised we would be both a pro-business and a pro-worker party…

…A party rooted not just in the experience of working people, but which recognises, above all else, that you cannot rebuild an economy without a flourishing private sector; backed by an unapologetically pro-business government.

I committed to partnering with you in making our offer to the country one you could get behind.

And you gave us the ideas, energy and, in some cases, explicit support that was needed to win a strong majority and an even stronger mandate from the British people. A mandate to deliver our Plan for Change.

Today, I want to reflect on the progress that we have made as a government. I want to talk candidly about what I believe we need to do;

…And I want to provide a clear direction, some reassurance and – I hope – some excitement and optimism about the future.

Now I am extremely proud of the work that my department has done in the first seven months of this Government.

That includes our record-breaking International Investment Summit…where we secured £63bn of inward investment commitments for the UK…

…that was where we published our Industrial Strategy Green Paper…

…and where we launched our Industrial Strategy Council expertly led by Clare Barclay. I’m so glad Clare could join us ahead of the council’s meeting later today.

Building on from the investment summit, at Davos last month, the Chancellor and I sent a clear message to the international community: that the UK is a great place to invest and do business. We have the lowest corporation tax in the G7, uncapped R&D tax credits, and 100% full expensing on capital allowances.

And ahead of our Trade Strategy’s publication, we are leveraging our relationships with Europe, China, India and the Gulf and beyond so businesses can make the UK their base to connect with global markets.

And this is important, because in response to the announcements made by the US this week, I want to reiterate that under this government, the UK will always champion free, fair and open trade. That is what is in our national interest.

And where we have seen the opportunity for an active government to bring business and workers together, my department has always been on the pitch…

…Whether that’s securing a better deal for the workforce at Port Talbot

…engaging on the takeover of Royal Mail…

…Or the renegotiated deal that saw Navantia acquiring Harland and Wolff and protect 1,000 jobs at shipyards across the UK. I will always roll up my sleeves and get involved.

But – being candid – none of this work in itself is sufficient, if it does not lead across the board to improved business confidence, to greater investment, and to higher household income, in every part of the country.

And on that I, and the whole government, recognise the challenge, and we accept it.

In the Budget the government had a responsibility to fix the foundations and restore economic stability.

And while I recognise that the Budget capped corporation tax, extended capital allowances, and raised the employment allowance threshold from this April, I know it asked a great deal of business. I don’t underestimate that for a second.

We will never take that contribution – your contribution – for granted.

You are playing your part in fixing this country, in stabilising the public finances, in investing in our people and helping us rebuild our crumbling infrastructure.

And we know it is imperative that therefore we clear the path for the private sector to thrive… that we deliver the right conditions for growth.

It’s why, on top of the £100 billion of investment unveiled at the Budget, this Government has thrown its full support behind a third runway at Heathrow.

It’s why we’re making the Oxford Cambridge growth corridor a success with the right transport and public services to foster growth.

It’s why through our expanded Office for Investment and the National Wealth Fund we will be supporting transformative investments throughout the country from West Yorkshire to the West Midlands, and Glasgow and Greater Manchester.

The challenges we face as government make all the things we promised to do even more critical.

And I relish that.

And I don’t believe there are easy answers to complex problems.

But I do believe that good policy, good strategies, and good government working hand-in-hand with the private sector, can make a difference.

And I want my constituents to feel, and to be, better off.

And only a pragmatic, business-orientated government can deliver that.

And that to me is what being pro-worker, and pro-business means.

And I believe this national UK Government is able to deliver on this mission because, fundamentally, we can offer what no-one else can:

First of all, political stability – sadly, a rare commodity in many countries these days.

Secondly, openness to the rest of the world – at a time where that is clearly coming under pressure.

And most importantly of all, we are offering a willingness to use our mandate in Parliament to transform the business and investor environment.

And we are using our Industrial Strategy to ensure that our policies are made with business, for business.

As you know, in October last year, we consulted on our Industrial Strategy Green Paper; our blueprint to channel investment and support into our country’s high-growth sectors and high potential places.

In that green paper, we posed a series of questions, and you answered in great detail. You told us that you need access to a high-skilled workforce.

And that is why we have launched Skills England, bringing in flexibilities for the Growth and Skills levy, allowing for shorter apprenticeships and giving employers more control over training.

Meanwhile our Great Britain Working White Paper has already set out detailed plans to support people back into work.

And for key sectors such as AI and life sciences, we’ve committed to looking at visa routes for the most highly skilled, ensuring those routes continue to work for the UK. The upcoming Immigration White Paper will set out plans to make our immigration, skills, and visa systems work better and more coherently.

You told us that planning has become a by-word for inefficiency.

So, we’re making it quicker and simpler for developers to build on brownfield land.

We’re making it much easier to build laboratories, gigafactories, data centres, and digital network grid connections.

And we’re preventing campaigners from repeatedly launching hopeless legal challenges against planning decisions.  

You have also told us that access to capital needs drastic improvement.

Here again we’re listening and we’re responding. That is why the Government is creating pension megafunds, unlocking billions of pounds of investment. At the same time, we’re delivering on Lord Hill’s Listing Review to allow the FCA to rewrite the UK’s Prospectus Regime for faster fund-raising.

And, finally, you told us that we need a ‘regulation reset’ in this country. 

Day in, day out I hear from business leaders who say to me that regulation and regulators are too cumbersome.

They’re too slow.

They’re too focused on theoretical issues, with little understanding of how businesses and markets actually operate.

And I’ve heard that message loud and clear.

One of our foremost regulators, the Competition and Markets Authority, has recently made great strides in addressing some of these issues.

And today, my department is publishing a consultation on a new Strategic Steer for the CMA to accelerate this work.

This isn’t about meaningless platitudes – about the ‘cutting of red tape.’

It’s about effective consumer protection, competition law and digital market powers so that we create a level-playing field for businesses to compete on. We need to address genuine harm done by those who are not playing by the rules.

Our Strategic Steer asks the CMA to minimise uncertainty for business – by being proactive, transparent, timely, predictable and responsive in its engagement.

And I know, under Sarah Cardell and the new Interim Chair, Doug Gurr, the CMA has already taken significant steps in adopting this approach…in always having growth and investment in mind.

Its extensive work around the merger of Vodafone and Three is a fantastic example of that…as is the CMA’s launch of a Growth and Investment Council to identify opportunities for greater competition.

And there is more to come.

I know Sarah and the CMA have set out their plans to deliver real, meaningful reforms to the merger control processes already today. Its eyes are trained firmly on more direct engagement with businesses. On speeding up its decision-making to deliver more certainty for investors. On adopting a faster, more agile approach to protecting competition.

I fully endorse these measures because this Government believes in effective, independent institutions. In promoting competition and protecting competition – that is fundamental to our growth mission. And with the current CMA team in place, we want to support them every step of the way in the changes they’re making.

I want to see that same level of ambition from our other regulators because right now, I don’t think our regulatory environment is doing enough to drive investor confidence and support growth.

So, I’m taking this first step today but watch this space.

I’m serious about delivering our wider regulatory reform over the coming weeks and months…

…I’m also serious about building the pro-innovation, pro-worker, pro wealth creation economy that we promised at the general election. I know you in the room share that commitment, too.

I’m proud of the reforms that we’ve set out in the Employment Rights Bill – of the opportunities they will afford working class families and working-class communities like the one I grew up in.

I want everyone to benefit from the stronger economy I know we can have.

But I always said, however, that we would work with – and not against – business to deliver these generational reforms.

I said that we would never introduce changes that would make it harder for firms to hire with confidence.

And this is precisely why my department is consulting on many of the key aspects of our Make Work Pay reforms – not least on probationary periods.

I want a statutory probation period that lets businesses get a good sense of how new employees are performing.

And it’s common sense to ensure that there are lighter touch standards for dismissal during those initial months of people starting a job.

I know how important this is for employers. And I get it.

It’s why my department will continue to engage face-to-face with business to develop a sensible, balanced proposal before we go out for formal consultation.

And we will also consult on the length of the statutory probation period, with our preference being 9 months.

We have also made clear that the changes we make to unfair dismissal will come into effect no sooner than the autumn of next year.

I want there to be a buffer – a proper, business readiness period – so employers fully understand the details of our reforms, and can prepare long before they enter into force.

That is the right thing to do – for both employers and employees.

So, let there be no doubt – we are still the party of business.

And we are willing to do the difficult things.

Be that a third runway at Heathrow, a step change at the CMA, or stopping endless court challenges over the job-creating projects this country needs.

We can share our ideas and ambition with each other.

Take the big bets.

Take some risks.

Be the disruptors.

My desire to be your champion in government has never wavered.

And it is as resolute now as ever.

We have to go further and faster in driving growth.

And, friends, together, I know that we will.

Thank you very much.

Updates to this page

Published 13 February 2025

MIL OSI United Kingdom –

February 14, 2025
MIL-Evening Report: Eugene Doyle: Will New Zealand invade the Cook Islands to stop China? Seriously

Report by Dr David Robie – Café Pacific. –

The New Zealand government and the mainstream media have gone ballistic (thankfully not literally just yet) over the move by the small Pacific nation to sign a strategic partnership with China in Beijing this week.

It is the latest in a string of island nations that have signalled a closer relationship with China, something that rattles nerves and sabres in Wellington and Canberra.

The Chinese have politely told the Kiwis to back off. Foreign Ministry spokesperson Guo Jiakun told reporters that China and the Cook Islands have had diplomatic relations since 1997 which “should not be disrupted or restrained by any third party”.

“New Zealand is rightly furious about it,” a TVNZ Pacific affairs writer editorialised to the nation. The deal and the lack of prior consultation was described by various journalists as “damaging”, “of significant concern”, “trouble in paradise”, an act by a “renegade government”.

Foreign Minister Winston Peters, not without cause, railed at what he saw as the Cook Islands government going against long-standing agreements to consult over defence and security issues.

“Should New Zealand invade the Cook islands?” . . . New Zealand Herald columnist Matthew Hooton’s view in an “oxygen-starved media environment” amid rattled nerves. Image: New Zealand Herald screenshot APR

‘Clearly about secession’
Matthew Hooton, who penned the article in The Herald, is a major commentator on various platforms.

“Cook Islands Prime Minister Mark Brown’s dealings with China are clearly about secession from the realm of New Zealand,” Hooton said without substantiation but with considerable colonial hauteur.

“His illegal moves cannot stand. It would be a relatively straightforward military operation for our SAS to secure all key government buildings in the Cook Islands’ capital, Avarua.”

This could be written off as the hyperventilating screeching of someone trying to drum up readers but he was given a major platform to do so and New Zealanders live in an oxygen-starved media environment where alternative analysis is hard to find.

The Cook Islands, with one of the largest Exclusive Economic Zones in the world — a whopping 2 million sq km — is considered part of New Zealand’s backyard, albeit over 3000 km to the northeast. The deal with China is focused on economics not security issues, according to Cooks Prime Minister Mark Brown.

Deep sea mining may be on the list of projects as well as trade cooperation, climate, tourism, and infrastructure.

The Cook Islands seafloor is believed to have billions of tons of polymetallic nodules of cobalt, copper, nickel and manganese, something that has even caught the attention of US Secretary of State Marco Rubio. Various players have their eyes on it.

Glen Johnson, writing in Le Monde Diplomatique, reported last year:

“Environmentalists have raised major concerns, particularly over the destruction of deep-sea habitats and the vast, choking sediment plumes that excavation would produce.”

All will be revealed
Even Cook Island’s citizens have not been consulted on the details of the deal, including deep sea mining. Clearly, this should not be the case. All will be revealed shortly.

New Zealand and the Cook Islands have had formal relations since 1901 when the British “transferred” the islands to New Zealand. Cook Islanders have a curious status: they hold New Zealand passports but are recognised as their own country. The US government went a step further on September 25, 2023. President Joe Biden said:

“Today I am proud to announce that the United States recognises the Cook Islands as a sovereign and independent state and will establish diplomatic relations between our two nations.”

A move to create their own passports was undermined by New Zealand officials who successfully stymied the plan.

New Zealand has taken an increasingly hostile stance vis-a-vis China, with PM Luxon describing the country as a “strategic competitor” while at the same time depending on China as our biggest trading partner. The government and a compliant mainstream media sing as one choir when it comes to China: it is seen as a threat, a looming pretender to be South Pacific hegemon, replacing the flip-flopping, increasingly incoherent USA.

Climate change looms large for island nations. Much of the Cooks’ tourism infrastructure is vulnerable to coastal inundation and precious reefs are being destroyed by heating sea temperatures.

“One thing that New Zealand has got to get its head round is the fact that the Trump administration has withdrawn from the Paris Climate Accord,” Dr Robert Patman, professor of international relations at Otago University, says. “And this is a big deal for most Pacific Island states — and that means that the Cook Islands nation may well be looking for greater assistance elsewhere.”

Diplomatic spat with global coverage
The story of the diplomatic spat has been covered in the Middle East, Europe and Asia. Eyebrows are rising as yet again New Zealand, a close ally of Israel and a participant in the US Operation Prosperity Guardian to lift the Houthi Red Sea blockade of Israel, shows its Western mindset.

Matthew Hooton’s article is the kind of colonialist fantasy masquerading as geopolitical analysis that damages New Zealand’s reputation as a friend to the smaller nations of our region.

Yes, the Chinese have an interest in our neck of the woods — China is second only to Australia in supplying much-needed development assistance to the region.

It is sound policy not insurrection for small nations to diversify economic partnerships and secure development opportunities for their people. That said, serious questions should be posed and deserve to be answered.

Geopolitical analyst Dr Geoffrey Miller made a useful contribution to the debate saying there was potential for all three parties to work together:

“There is no reason why New Zealand can’t get together with China and the Cook Islands and develop some projects together,” Dr Miller says. “Pacific states are the winners here because there is a lot of competition for them”.

I think New Zealand and Australia could combine more effectively with a host of South Pacific island nations and form a more effective regional voice with which to engage with the wider world and collectively resist efforts by the US and China to turn the region into a theatre of competition.

We throw the toys out
We throw the toys out of the cot when the Cooks don’t consult with us but shrug when Pasifika elders like former Tuvalu PM Enele Sopoaga call us out for ignoring them.

In Wellington last year, I heard him challenge the bigger powers, particularly Australia and New Zealand, to remember that the existential threat faced by Pacific nations comes first from climate change. He also reminded New Zealanders of the commitment to keeping the South Pacific nuclear-free.

To succeed, a “Pacific for the peoples of the Pacific” approach would suggest our ministries of foreign affairs should halt their drift to being little more than branch offices of the Pentagon and that our governments should not sign up to US Great Power competition with China.

Ditching the misguided anti-China AUKUS project would be a good start.

Friends to all, enemies of none. Keep the Pacific peaceful, neutral and nuclear-free.

Eugene Doyle is a community organiser and activist in Wellington, New Zealand. He received an Absolutely Positively Wellingtonian award in 2023 for community service. His first demonstration was at the age of 12 against the Vietnam War. This article was first published at his public policy website Solidarity and is republished here with permission.

This article was first published on Café Pacific.

MIL OSI Analysis – EveningReport.nz –

February 14, 2025
MIL-OSI USA: Researchers Unlock New Potential Porcine Virus Treatment

Source: US State of Connecticut

UConn researchers have identified a novel small molecule for the development of preventative treatment for a serious and costly disease in pigs.

Porcine reproductive and respiratory syndrome virus (PRRSV) costs an estimated $1.2 billion annually in the U.S. In Europe, the estimated yearly loss is €1.5 billion. The virus causes respiratory disease in piglets, and miscarriages or stillbirths in sows.

There is currently no effective vaccine or treatment for PRRSV. Some scientists are working on genetically modified pigs to block viral infection, but this strategy will take decades to have a measurable impact.

Researchers from the College of Agriculture, Health and Natural Resources have identified a small molecule that can successfully disable the virus’ mechanisms for reproducing and evading the host organism’s immune system.

They published these findings in the Journal of Virology. Jiaqi Zhu ‘23 (CAHNR), is the first author on this paper. UConn collaborators include Xiuchun “Cindy” Tian, professor of animal science; Antonio Garmendia, professor of pathobiology and veterinary science; Neha Mishra, associate professor of pathobiology and veterinary science, and Kyle Hadden, professor of pharmaceutical science.

This work is a collaboration between UConn and Northwest A&F University in China, where Young Tang, former UConn associate professor, is currently faculty.

The researchers began this work by using artificial intelligence to screen a bank of small molecules to identify which ones might be good candidates. The algorithm compared the structure of the viral protein the researchers wanted to target against those of the small molecules.

They then narrowed their results down to a single chemical that could inhibit the virus without producing toxic effects.

The researchers targeted a protein called NendoU. This protein is highly conserved, meaning that when the virus mutates, this protein will likely stay the same because it plays such an essential role in the virus’ ability to reproduce.

The researchers found that the number of viral particles in cells treated with the small molecule was more than 1,000 times fewer than the untreated control group.

“Basically, the virus comes into the untreated cell and uses the cell’s machinery to amplify and create more viruses,” Tian says. “So, if you treat the cells with this particular chemical, compared to untreated cells, it’s going to reduce it by 1,000 times in terms of viral number.”

NendoU is also common across other closely related viruses.

“We were thinking this [chemical] could also work on other viruses in this order,” Zhu says. “So, we tested it on another virus called chicken infectious bronchitis virus and it also worked very well.”

COVID-19 belongs to the same viral family as PRRSV. This means that even though PRRSV is not a risk to human health, this research could have applications for human anti-viral drug development.

These findings build on previous work from this group in which, in collaboration with technology enabled pharmaceutical company, Atomwise Inc., they identified a different chemical that disrupts the virus’ ability to enter the host cell.

“By shutting the door for viral entry and inhibiting those that are already in the cells, we could combine these two small molecules in the future, and potentially have a stronger, and synergistic effect on disease control,” says Tian.

The researchers are working with UConn’s Technology Commercialization Services (TCS) to advance the development and commercialization of this technology. Engaging with TCS early on, they protected their intellectual property and developed a strategic commercialization plan. As part of these efforts, TCS facilitated one-on-one meetings with five of the world’s ten largest animal healthcare companies, along with multiple other organizations interested in the technology.

“We have received amazing interest from industry, and the feedback has been extremely helpful, setting up the development path of the technology,” says Ana Fidantsef, industry liaison with TCS. “We hope these interactions will lead to collaborations that will immensely help the swine market and industry.”

This work relates to CAHNR’s Strategic Vision area focused on Ensuring a Vibrant and Sustainable Agricultural Industry and Food Supply.

Follow UConn CAHNR on social media

MIL OSI USA News –

February 14, 2025
MIL-OSI: Defiance ETFs Launches Battleshares™ ETFs, Introducing ELON (Tesla vs. Ford) as Flagship Fund
Source: GlobeNewswire (MIL-OSI)

MIAMI, Feb. 13, 2025 (GLOBE NEWSWIRE) — Defiance ETFs is excited to introduce Battleshares™ Exchange-Traded Funds (ETFs), an innovative suite of ETFs designed to capture competitive market dynamics and capitalize on strategic market rivalries within leading industries. The suite will feature a range of distinct ETFs, each crafted to help investors benefit from evolving market competition.

Introducing ELON: The First in the Battleshares™ Series
The first ETF in the Battleshares™ lineup is the Battleshares™ TSLA vs. F ETF (Ticker: ELON). This actively managed fund embodies market competition, highlighting the dynamic rivalry between what the advisor believes to be an industry disruptor Tesla (TSLA) and legacy competitor Ford (F). The Fund’s strategy involves a leveraged long position in TSLA, generally targeting +200% of the Fund’s net assets, paired with a leveraged short position in F, generally targeting -100% of the Fund’s net assets. ELON provides investors with a unique opportunity to gain exposure to the ongoing transformation within the automotive sector, capitalizing on the divergence between innovation and tradition.

A Competitive Edge for Forward-Thinking Investors
Battleshares™ ETFs employ a unique long/short investment strategy, going long on industry innovators while shorting their legacy competitors. This approach enables the funds to potentially generate returns across various market conditions while focusing on single-stock opportunities. The funds will cover sectors such as technology, retail, financial services, and automotive.

“We are thrilled to introduce Battleshares™ ETFs, starting with ELON,” said Sylvia Jablonski, Chief Executive Officer & CIO of Defiance ETFs. “This suite is designed to empower investors with strategic tools that harness industry disruption and market evolution.”

Key Features of the Battleshares™ ETFs:
- Actively Managed Strategies: A long/short investment approach to capitalize on market dynamics.
- Industry-Specific Focus: Targeting sectors including semiconductors, financial services, and renewable energy.
- Leveraged Exposure: Structured to magnify returns through leveraged long and short positions.
- Innovation-Driven: Funds such as ELON prioritize transformative market trends and technological advancements.
The Battleshares™ TSLA vs. F ETF (Ticker: ELON) will be listed on the NYSE, offering investors a unique opportunity to participate in the competitive dynamics of transformational growth sectors.

About Defiance ETFs
Established in 2018, Defiance leads in ETF innovation. Our pioneering leveraged ETFs enable investors to amplify positions in innovative strategies, offering precise leveraged exposure without requiring a margin account.

For more information about Battleshares™ ETFs and the Battleshares™ TSLA vs. F ETF (Ticker: ELON), please visit https://www.battle-shares.com.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (866) 532-3886 or visit our website at www.battle-shares.com. Read the prospectus or summary prospectus carefully before investing.

None of the Fund, the Trust, the Adviser, or their respective affiliates makes any representation to you as to the performance of TSLA or F. THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH TESLA, INC. or FORD MOTOR COMPANY.

Investing involves risk. Principal loss is possible. As an ETF, the funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. A portfolio concentrated in a single industry or country, may be subject to a higher degree of risk. There is no guarantee that the Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment.

TSLA Risk (Long Position). The Fund invests in TSLA either directly or indirectly through derivative instruments (i.e., via options and swaps). Through its long position, the Fund is subject to the risk that TSLA’s share price decreases. If the share price of TSLA decreases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. Therefore, as a result of the Fund’s exposure to the value of TSLA, the Fund may also be subject to the following risks: Indirect Investment in TSLA Risk. Tesla, Inc. is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way and has no obligation to consider your Shares in taking any corporate actions that might affect the value of Shares. Investors in the Fund will not have voting rights and will not be able to influence management of Tesla, Inc. but will be exposed to the performance of TSLA (the underlying stock). Investors in the Fund will not have rights to receive dividends or other distributions or any other rights with respect to the underlying stock but will be subject to declines in the performance of the underlying stock. Tesla, Inc. Performance Risk. Tesla, Inc. may fail to meet its publicly announced guidelines or other expectations about its business, which could cause the price of TSLA to decline. Electric Vehicles Risk. The future growth and success of Tesla, Inc. are dependent upon consumers’ demand for electric vehicles, and specifically, its vehicles in an automotive industry that is generally competitive, cyclical and volatile. If the market for electric vehicles in general and Tesla, Inc. vehicles in particular does not develop as Tesla, Inc. expects, develops more slowly than it expects, or if demand for its vehicles decreases in its markets or its vehicles compete with each other, the business, prospects, financial condition and operating results of Tesla, Inc. may be harmed.

Ford Price Appreciation Risk (Short Position). As part of the Fund’s short strategy, the Fund may sell F shares short, either directly or through the use of derivatives. By virtue of the Fund’s indirect inverse exposure to changes in the share price of F, the Fund is subject to the risk that F’s share price increases. If the share price of F increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: Ford’s ability to gain market share in the electric vehicle market may enhance its market position and result in increased stock prices. Market share gains against key competitors, such as TSLA, in the electric vehicle market may further support Ford’s stock performance. Moreover, strategic partnerships and successful acquisitions could drive significant growth and lead to stock appreciation. Favorable macroeconomic and industry conditions, including strong global demand for automobiles, may contribute to robust financial performance for Ford. Ford may benefit from favorable geopolitical developments, including advantageous trade policies or improved relations with key markets, such as China, which could positively impact its operations and stock performance. Conversely, any significant challenges faced by competitors, such as product delays or supply chain issues, may reduce competition and contribute to Ford’s stock outperformance.

Leveraging Risk. The Fund’s use of leverage amplifies both potential gains and potential losses, which can result in significant volatility and higher risk for investors. Specifically, TSLA, the Fund’s leveraged long position (“Long Position”) and, F, leveraged short position (“Short Position”) expose the Fund to heightened risk if the Long Position performs poorly while the Short Position performs well. If the value of the Long Position declines, the Fund’s leveraged exposure could result in losses that are magnified by the leverage factor, potentially exceeding the losses that would occur in an unleveraged position. For example, if the Fund’s Long Position is at +200% of net assets, a 10% decline in the value of the Long Position could translate into a 20% loss for the Fund’s net asset value attributable to that position. Conversely, if the value of the Short Position increases, the Fund’s leveraged short exposure could also lead to magnified losses. If the Short Position is at -100% of net assets, a 10% rise in the value of the Short Position could result in a 10% loss for the Fund’s net asset value attributable to that position.

Derivatives Risk. The Fund’s derivative investments carry risks such as an imperfect match between the derivative’s performance and its underlying assets, and the potential for loss of principal, which can exceed the initial investment.

Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio.

New Fund Risk. As of the date of the prospectus, the Fund has no operating history and currently has fewer assets than larger funds. Like other new funds, large inflows and outflows may impact the Fund’s market exposure for limited periods of time. Brokerage Commissions may be charged on trades.

Distributed by Foreside Fund Services, LLC.

The MIL Network –
February 14, 2025
MIL-OSI Asia-Pac: SITI visits Hengqin and Zhuhai (with photos)

Source: Hong Kong Government special administrative region

SITI visits Hengqin and Zhuhai (with photos)
SITI visits Hengqin and Zhuhai (with photos)
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The Secretary for Innovation, Technology and Industry, Professor Sun Dong, visited Hengqin and Zhuhai today (February 13). The Commissioner for Industry (Innovation and Technology), Dr Ge Ming, also joined the visit. Professor Sun first visited the Guangdong-Macao In-Depth Cooperation Zone in Hengqin. His visit was aimed to speed up the implementation of the development planning of the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone in accordance with the spirit of the important instructions given by the Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council, Mr Xia Baolong, when he inspected the Hong Kong Park. Professor Sun had an engagement session with Deputy Secretary of the Hengqin Working Committee of the CPC Guangdong Provincial Committee, Director of the Hengqin Office of the People’s Government of Guangdong Province and Deputy Director of the Executive Committee, Mr Nie Xinping. During the session, Professor Sun learned about the in-depth planning and industry development of the Cooperation Zone, taking into account the development of the Hong Kong Park. Professor Sun said, “Drawing on the experience of the Cooperation Zone, we have made it clearer of the special strategic positioning of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone as a demonstration zone for reform and innovation in the country. We should leverage the advantages of ‘two systems’, give full play to the uniqueness of the ‘Special Administrative Region within the Special Administrative Region’, seek institution and policy innovations, and break new ground, so as to expedite the realisation of the development objectives set out in the two five-year plans of the Hong Kong Park.” The Hong Kong Special Administrative Region (HKSAR) Government is now studying the proposals on specific measures to facilitate the cross-boundary flow of innovation elements including personnel, materials, capital and data in the Hetao Hong Kong Park. In this connection, Professor Sun visited the Zhuhai MUST Science and Technology Research Institute in the Cooperation Zone, which is an industry-academia-research demonstration base built by the Macau University of Science and Technology in the Guangdong-Hong Kong-Macao Greater Bay Area, to learn more about the institute’s work in promoting cross-boundary flow of data in the zone. Professor Sun met with the Deputy Secretary of the Communist Party of China Zhuhai Municipal Committee and Acting Mayor of the Zhuhai Municipal Government, Mr Wu Zetong, and Vice Mayor of Zhuhai Mr Huang Zhenqiu, and introduced the HKSAR Government’s latest policies on leading the city’s innovation and technology (I&T) development and the current developments. Professor Sun also learned about Zhuhai’s achievements in I&T and high-tech industrialisation. Both sides exchanged views on promoting I&T collaboration and exchanges between the two places. In the afternoon, Professor Sun visited the cell production workshops of the Zhuhai SoleFiori Technology Company and learned about the technologies and productivity of new high-efficiency heterojunction solar cells and modules with low energy consumption and low carbon emissions. Professor Sun welcomed the enterprise’s plan to expand its business in Hong Kong. Professor Sun then visited the headquarters of Gree Electric Appliances Inc. of Zhuhai. He was briefed on the latest developments in quality assurance, product innovations and talent training of the technology-based household consumer goods and industrial equipment manufacturing group. He also visited the industrial products display zone at the Group’s technology exhibition hall, where he learned about the self-developed industrial robots, computer numerical control machine tools, and smart warehousing products and systems. Professor Sun concluded his visit and returned to Hong Kong in the evening.

Ends/Thursday, February 13, 2025Issued at HKT 19:52

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MIL OSI Asia Pacific News –

February 14, 2025
MIL-OSI Asia-Pac: Speech by SCED at HKGCC Chinese New Year Dinner 2025 (English only)

Source: Hong Kong Government special administrative region

Following is the speech by the Secretary for Commerce and Economic Development, Mr Algernon Yau, at the HKGCC Chinese New Year Dinner 2025 today (February 13):

Agnes (Chairman of the Hong Kong General Chamber of Commerce, Ms Agnes Chan), Commissioner Pan Yundong (Deputy Commissioner of the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong Special Administrative Region (HKSAR)), Deputy Director-General Zhou Qiang (Deputy Director-General of the Economic Affairs Department and Head of the Commercial Office of the Liaison Office of the Central People’s Government (LOCPG) in the HKSAR), Deputy Director-General Xu Xiaolin (Deputy Director-General of the Coordination Department of the LOCPG in the HKSAR), distinguished guests, ladies and gentlemen,

     Good evening. It gives me great pleasure to join you all tonight. This festive occasion gives us a time to reflect on the past year and look forward with hope to the new one.

     In 2024, Hong Kong demonstrated to the world our resilience in times of uncertainties. Our city is ranked as the world’s third-largest financial centre, the world’s freest economy, and is at the fifth place in the global competitiveness ranking. We now have nearly 10 000 companies from the Mainland and overseas, as well as 4 700 start-ups. Both numbers are the highest that we have ever seen. These are signs of confidence in Hong Kong’s status as a prime business destination.

     But challenges will keep coming. In addition to conflicts in Europe and the Middle East, we also need to brace the rapid changes in the operating environment. The United States (US)’ imposition of tariffs will affect many economies and companies. On this, the HKSAR Government strongly disapproves. It rattles the fundamentals of a rule-based multilateral trade system, which took the whole world decades to build. As far as the tariffs on Hong Kong are concerned, we have decided to file a complaint to the World Trade Organization. We have always been a staunch supporter of free trade, and we will continue to hold tight to our beliefs.

     Risk management is key to a successful business. I am sure many of you saw the uncertainties coming from years ago. I was told that a lot of companies have already modified their business plans, the supply chains, asset distributions, etc, in anticipation of the changing external environment. I encourage you to continue to do the same.

     For Hong Kong, this term of Government attaches a lot of importance to exploring new markets. The US and Europe are traditionally among our largest trading partners, and they will probably continue to be so. We are happy with the businesses that we do with each other, which are mutually beneficial. But more importantly, we must not lose sight of the business potential in other markets. The Association of Southeast Asian Nations (ASEAN), for example, if taken as a bloc, is now Hong Kong’s second-largest trading partners. Other emerging regions, such as the Middle East, are also catching up fast.

     In the past two years or so, we have led business delegations to ASEAN and the Middle East. We will continue to do so in the coming year. We will also step up our efforts to forge new trade and investment agreements with rising trading partners. Increasing our trade and investment with new markets will inject new impetus into Hong Kong’s economy. It will also help us mitigate the risks arising from geopolitics.

     Looking closer to home, we spare no efforts to drive changes to our economic structure. The Government sees the need to develop silver economy. The growing elderly population in Hong Kong is becoming an important consumer group, creating considerable demand for such products and services as medical and healthcare, leisure and recreation, and home and personal care catered for the elderly. These products and services also enhance the quality of life for the elderly of Hong Kong, which is equally important for us.

     We also encourage Hong Kong companies to embrace electronic commerce (e-commerce). This is a global trend in consumption pattern that is irreversible. To help our small and medium enterprises to upgrade their business models, we launched the “E-commerce Easy” under the Dedicated Fund on Branding, Upgrading and Domestic Sales last year to provide funding support. The Hong Kong Trade Development Council, the HKTDC, also organised the first Hong Kong Shopping Festival to showcase consumer products and brands on Mainland e-commerce platforms. The Festival was a huge success. We will organise the second edition this year. The HKTDC will also step up efforts in providing advisory support to enterprises in need when exploring the e-commerce market.

     I spent all my life in Hong Kong. In my entire career, I witnessed Hong Kong going through ups and downs. The world today is so different than the world I was in when I was in my twenties. One of Hong Kong’s biggest appeal is the “can-do” spirit of Hong Kong people. We are flexible, adaptive, determined, forward-looking, and we fight hard. We will rise above the challenges and come out on top.

     I would like to thank the Hong Kong General Chamber of Commerce for all the good you do to our business community. As we enter the Year of the Snake, let us draw inspiration from its attributes of versatility, intelligence and agility, and work together to build a better future for Hong Kong. I wish you all a year with good health, success and happiness. Thank you.

MIL OSI Asia Pacific News –

February 14, 2025
MIL-OSI Asia-Pac: SFST leads delegation to Qianhai in Shenzhen for second meeting of Shenzhen-Hong Kong Financial Co-operation Committee (with photos)

Source: Hong Kong Government special administrative region

SFST leads delegation to Qianhai in Shenzhen for second meeting of Shenzhen-Hong Kong Financial Co-operation Committee (with photos)
SFST leads delegation to Qianhai in Shenzhen for second meeting of Shenzhen-Hong Kong Financial Co-operation Committee (with photos)
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The Secretary for Financial Services and the Treasury, Mr Christopher Hui, led a delegation to attend the second meeting of the Shenzhen-Hong Kong Financial Co-operation Committee (Committee) in Qianhai, Shenzhen, today (February 13). The meeting echoed the aspirations expressed by the Director of the Hong Kong and Macao Work Office of the Communist Party of China Central Committee and the Hong Kong and Macao Affairs Office of the State Council, Mr Xia Baolong, during the discussion session he hosted on Sunday (February 9) for more reciprocal co-operation and collaborative development within the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The meeting was co-chaired by Mr Hui and the Vice-Mayor of the Shenzhen Municipal People’s Government and Director General of the Office of the Financial Affairs Committee of the CPC Shenzhen Municipal Committee, Mr Luo Huanghao. The Committee discussed the latest developments of the financial markets and financial co-operation initiatives of Shenzhen and Hong Kong. It also explored suggestions on further enhancing the development of a collaborative market. On collaborations in terms of financial professional services and talent, Mr Hui announced a list of Hong Kong accounting firms capable of supporting Mainland enterprises in “going global”, and expressed his hope that Hong Kong’s high-quality and international professional services could facilitate the high-level opening of the country’s financial markets. The Committee also arranged an experience-sharing session by two Hong Kong students who participated in the GBA Fintech Two-way Internship Scheme for Post-secondary Students to encourage the industry to provide more opportunities for young people from Shenzhen and Hong Kong to foster talent exchanges in the financial realm. Mr Hui said that Hong Kong and Shenzhen were both core cities and key engines for driving the development of the GBA. It is anticipated that Hong Kong will continue its close collaboration with Shenzhen for co-ordinated development. As Mr Hui said at the discussion session hosted by Director Xia, the further strengthening of co-operation between Hong Kong and the GBA in the areas of financial markets and services would better reinforce national development strategies, thereby contributing to the nation’s development into a financial powerhouse and creating more development opportunities for Hong Kong and the GBA. Mr Luo said, “The Shenzhen-Hong Kong Financial Co-operation Committee is an important platform for implementing the ‘one country, two systems’ principle and reinforcing Hong Kong’s status as an international financial centre. Moving forward, favourable policies and connectivity of the financial infrastructure will act as key pillars and help provide breakthroughs for the continuous enhancement to the connectivity of Shenzhen-Hong Kong financial infrastructure. We will work in co-ordination with Hong Kong in providing financial services for enterprises to “go global”, supporting the efficient flow of capital, credit and data across the boundary.” Established in June 2024, the Shenzhen-Hong Kong Financial Co-operation Committee brings together official members from the Central Authorities, Shenzhen and Hong Kong, as well as industry leaders in both places as non-official members to provide insights on Shenzhen-Hong Kong financial co-operation and the development of the GBA’s financial infrastructure. The first meeting was held in mid-June last year in Hong Kong.

Ends/Thursday, February 13, 2025Issued at HKT 18:38

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MIL OSI Asia Pacific News –

February 14, 2025
MIL-OSI Europe: Briefing – India’s Parliament and other political institutions – 13-02-2025

Source: European Parliament

India is a pluralistic, multi-faith, multilingual (with 22 recognised languages), and multi-ethnic country. In April 2023 it overtook China as the world’s most populous country (it had a population of 1.44 billion in 2024). India’s 1950 Constitution provides for a quasi-federal set-up, with powers separated between the central union and the 28 state governments. Competences are distributed by administrative level – between the Union (the Centre), the states, or ‘concurrently’. The Prime Minister possesses the country’s effective executive power. As ‘Leader of the House’ in the lower chamber, the Prime Minister also holds decisive power in deciding the House’s agenda. However, the real power of initiating legislation belongs to the government, and the Parliament has no say on foreign affairs. India’s Parliament is bicameral: it includes the Lok Sabha – the lower house – and the Rajya Sabha – the upper house. The two houses are equal, but the Lok Sabha dominates in deciding certain financial matters and on the collective responsibility of the Council of Ministers. General elections take place for Lok Sabha members every five years. The last elections took place in April-May 2024, when Narendra Modi obtained his third mandate as Prime Minister. The Rajva Sabha is a permanent body consisting of members indirectly elected by the states, and it is not subject to dissolution. India has a common law legal system. The Supreme Court is the final court of appeal, headed by the Chief Justice of India. It arbitrates on any dispute between the Union and the states, as well as between states, and on the enforcement of fundamental rights. It has powers of judicial review over legislation adopted by both the Union and the states. This is an update of a briefing published in March 2020.

MIL OSI Europe News –

February 14, 2025
MIL-OSI China: China intensifies crackdown on telecom, online fraud

Source: China State Council Information Office 2

China’s prosecutorial authorities charged over 67,000 individuals with telecom and online fraud between January and November 2024, marking a 58.5 percent increase compared to the previous year, the Supreme People’s Procuratorate (SPP) said Thursday.
Since the launch of a special campaign in July 2023, police have apprehended over 53,000 Chinese suspects involved in telecom and internet fraud operating from northern Myanmar, a region bordering China and notorious for such crimes.
By the end of November 2024, more than 29,000 of these fraud suspects had been indicted and were facing trial, according to the SPP.
Telecom and internet fraud remain rampant, said Du Xueyi of the SPP, pledging to intensify efforts and impose stricter penalties on these crimes.

MIL OSI China News –

February 14, 2025
MIL-OSI China: China intensifies employment support to stabilize post-festival labor market

Source: China State Council Information Office 2

China has intensified efforts to stabilize the labor market and ensure smooth business operations following the Spring Festival by organizing both online and offline job fairs, as well as offering chartered buses, trains and flights to help migrant workers return to their jobs.
From mid-January to Feb. 11, a total of 22,000 recruitment events have been held nationwide, offering more than 15 million job opportunities, according to data released by the Ministry of Human Resources and Social Security on Thursday.
Approximately 370,000 migrant workers have returned to their jobs, thanks to the 15,000 chartered buses, trains and flights provided, according to the data.
The period after the Spring Festival is crucial for businesses to resume operations and production, while also being a peak time for workers to change jobs and seek employment.
In the Yangtze River Delta and Pearl River Delta regions, businesses have swiftly resumed operations after the holiday to fulfill orders and boost production, driving a steady and growing demand for labor.
The ministry has focused on addressing businesses’ workforce needs and strengthening inter-regional labor cooperation to ensure stable production and sustain economic growth.
From mid-January to mid-March, the ministry, along with seven other central authorities, will launch campaigns to offer employment services for workers and employers.

MIL OSI China News –

February 14, 2025
MIL-Evening Report: Will New Zealand invade the Cook Islands to stop China? Seriously

The Chinese have politely told the Kiwis to back off. Foreign Ministry spokesperson Guo Jiakun told reporters that China and the Cook Islands have had diplomatic relations since 1997 which “should not be disrupted or restrained by any third party”.

“New Zealand is rightly furious about it,” a TVNZ Pacific affairs writer editorialised to the nation. The deal and the lack of prior consultation was described by various journalists as “damaging”, “of significant concern”, “trouble in paradise”, an act by a “renegade government”.

Foreign Minister Winston Peters, not without cause, railed at what he saw as the Cook Islands government going against long-standing agreements to consult over defence and security issues.

“Should New Zealand invade the Cook islands?” . . . New Zealand Herald columnist Matthew Hooton’s view in an “oxygen-starved media environment” amid rattled nerves. Image: New Zealand Herald screenshot APR

‘Clearly about secession’
Matthew Hooton, who penned the article in The Herald, is a major commentator on various platforms.

“Cook Islands Prime Minister Mark Brown’s dealings with China are clearly about secession from the realm of New Zealand,” Hooton said without substantiation but with considerable colonial hauteur.

“His illegal moves cannot stand. It would be a relatively straightforward military operation for our SAS to secure all key government buildings in the Cook Islands’ capital, Avarua.”

This could be written off as the hyperventilating screeching of someone trying to drum up readers but he was given a major platform to do so and New Zealanders live in an oxygen-starved media environment where alternative analysis is hard to find.

The Cook Islands, with one of the largest Exclusive Economic Zones in the world — a whopping 2 million sq km — is considered part of New Zealand’s backyard, albeit over 3000 km to the northeast. The deal with China is focused on economics not security issues, according to Cooks Prime Minister Mark Brown.

Deep sea mining may be on the list of projects as well as trade cooperation, climate, tourism, and infrastructure.

The Cook Islands seafloor is believed to have billions of tons of polymetallic nodules of cobalt, copper, nickel and manganese, something that has even caught the attention of US Secretary of State Marco Rubio. Various players have their eyes on it.

Glen Johnson, writing in Le Monde Diplomatique, reported last year:

“Environmentalists have raised major concerns, particularly over the destruction of deep-sea habitats and the vast, choking sediment plumes that excavation would produce.”

All will be revealed
Even Cook Island’s citizens have not been consulted on the details of the deal, including deep sea mining. Clearly, this should not be the case. All will be revealed shortly.

New Zealand and the Cook Islands have had formal relations since 1901 when the British “transferred” the islands to New Zealand. Cook Islanders have a curious status: they hold New Zealand passports but are recognised as their own country. The US government went a step further on September 25, 2023. President Joe Biden said:

“Today I am proud to announce that the United States recognises the Cook Islands as a sovereign and independent state and will establish diplomatic relations between our two nations.”

A move to create their own passports was undermined by New Zealand officials who successfully stymied the plan.

New Zealand has taken an increasingly hostile stance vis-a-vis China, with PM Luxon describing the country as a “strategic competitor” while at the same time depending on China as our biggest trading partner. The government and a compliant mainstream media sing as one choir when it comes to China: it is seen as a threat, a looming pretender to be South Pacific hegemon, replacing the flip-flopping, increasingly incoherent USA.

Climate change looms large for island nations. Much of the Cooks’ tourism infrastructure is vulnerable to coastal inundation and precious reefs are being destroyed by heating sea temperatures.

“One thing that New Zealand has got to get its head round is the fact that the Trump administration has withdrawn from the Paris Climate Accord,” Dr Robert Patman, professor of international relations at Otago University, says. “And this is a big deal for most Pacific Island states — and that means that the Cook Islands nation may well be looking for greater assistance elsewhere.”

Diplomatic spat with global coverage
The story of the diplomatic spat has been covered in the Middle East, Europe and Asia. Eyebrows are rising as yet again New Zealand, a close ally of Israel and a participant in the US Operation Prosperity Guardian to lift the Houthi Red Sea blockade of Israel, shows its Western mindset.

Matthew Hooton’s article is the kind of colonialist fantasy masquerading as geopolitical analysis that damages New Zealand’s reputation as a friend to the smaller nations of our region.

Yes, the Chinese have an interest in our neck of the woods — China is second only to Australia in supplying much-needed development assistance to the region.

It is sound policy not insurrection for small nations to diversify economic partnerships and secure development opportunities for their people. That said, serious questions should be posed and deserve to be answered.

Geopolitical analyst Dr Geoffrey Miller made a useful contribution to the debate saying there was potential for all three parties to work together:

“There is no reason why New Zealand can’t get together with China and the Cook Islands and develop some projects together,” Dr Miller says. “Pacific states are the winners here because there is a lot of competition for them”.

I think New Zealand and Australia could combine more effectively with a host of South Pacific island nations and form a more effective regional voice with which to engage with the wider world and collectively resist efforts by the US and China to turn the region into a theatre of competition.

We throw the toys out
We throw the toys out of the cot when the Cooks don’t consult with us but shrug when Pasifika elders like former Tuvalu PM Enele Sopoaga call us out for ignoring them.

In Wellington last year, I heard him challenge the bigger powers, particularly Australia and New Zealand, to remember that the existential threat faced by Pacific nations comes first from climate change. He also reminded New Zealanders of the commitment to keeping the South Pacific nuclear-free.

To succeed, a “Pacific for the peoples of the Pacific” approach would suggest our ministries of foreign affairs should halt their drift to being little more than branch offices of the Pentagon and that our governments should not sign up to US Great Power competition with China.

Ditching the misguided anti-China AUKUS project would be a good start.

Friends to all, enemies of none. Keep the Pacific peaceful, neutral and nuclear-free.

Eugene Doyle is a community organiser and activist in Wellington, New Zealand. He received an Absolutely Positively Wellingtonian award in 2023 for community service. His first demonstration was at the age of 12 against the Vietnam War. This article was first published at his public policy website Solidarity and is republished here with permission.

MIL OSI Analysis – EveningReport.nz –

February 14, 2025

MIL-OSI: Himax Technologies, Inc. Reports Fourth Quarter and Full Year 2024 Financial Results; Provides First Quarter 2025 Guidance

Source: GlobeNewswire (MIL-OSI)

Q4 2024 Revenues, Gross Margin and EPS All Surpassed Guidance Range Issued on November 7, 2024
Company Q1 2025 Guidance: Revenues to Decrease 8.5% to 12.5% QoQ,
Gross Margin is Expected to be Around 30.5%. Profit per Diluted ADS to be 9.0 Cents to 11.0 Cents

Q4 2024 revenues registered $237.2 million, an increase of 6.7% QoQ, significantly exceeding guidance range of a slight decrease to flat, primarily driven by stronger order momentum across product lines
Q4 2024 Gross margin reached 30.5%, exceeding guidance of flat to slightly up, driven by a favorable product mix and cost improvements. Up from 30.0% in the Q3 2024
Q4 2024 after-tax profit was $24.6M, or 14.0 cents per diluted ADS, considerably above the guidance range of 9.3 cents to 11.0 cents
Company’s full year 2024 revenues were $906.8 million, and gross margin was 30.5%. 2024 profit attributable to shareholders was $0.46 per fully diluted ADS
Company’s Q1 2025 revenues to decline 8.5% to 12.5% QoQ, reflecting the low season demand due to Lunar New Year holidays. The Q1 revenue guidance implies flat to 4.6% increase YoY. Gross margin to be around 30.5%, up from 29.3% same quarter last year. Profit per diluted ADS to be in the range of 9.0 cents to 11.0 cents, implying the increase of 26% to 54% YoY
Himax sales revenues in each quarter of 2024 consistently outperformed guidance, demonstrating its ability to handle most of rush orders, underscoring its strong ability in inventory management and swift market responsiveness
Full year 2024 automotive driver IC sales increased nearly 20% YoY, significantly outpacing global automotive growth, largely driven by the continued TDDI adoption among major customers across all continents. Himax continues to reinforce its market leadership in automotive TDDI, holding well over 50% market share
Himax’s WLO technology plays a critical role in CPO by providing essential optical coupling capability, making it a core element of the solution. Small-scale production of the first-gen CPO underway, with acceleration of future CPO generation development, in close collaboration with AI customers/partners. Company believes prospect of CPO remains unchanged
WiseEye, building on the success with Dell, has achieved notable progress with other leading NB brands. Also made breakthroughs in smart door lock, palm vein authentication and smart home. Himax anticipates a strong growth trajectory in WiseEye business in 2025 and beyond
At CES 2025, Himax showcased a wide range of innovative achievements, including automotive display technology, WiseEye AI, and advanced optical technologies for AR/VR
Rising enthusiasm in AR glasses with Gen AI in CES 2025. Himax offers three critical technologies for AR glasses, namely LCoS microdisplay, WLO waveguide, and ultralow power WiseEye AI
Himax is well-positioned to capitalize on the trend of the premium NB to adopt OLED displays and touch features. Confident to lead in the rapidly evolving landscape of AI PCs and premium NB, offering a comprehensive IC portfolio for both LCD and OLED NB

TAINAN, Taiwan, Feb. 13, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, announced its financial results for the fourth quarter and full year 2024 ended December 31, 2024.

“In 2024, our sales revenues in each quarter consistently outperformed guidance. We have consistently demonstrated our ability to handle most of rush orders, underscoring our agility, adaptability, strong capabilities in inventory management, and swift market responsiveness,” said Mr. Jordan Wu, President and Chief Executive Officer of Himax.

“At CES this year, Himax showcased a wide range of innovative achievements, including automotive display technology, WiseEye AI, and advanced optical technologies for AR/VR. Notably, a clear trend emerged at this year’s CES as the industry demonstrated growing enthusiasm for AR glasses, fueled by more companies entering the space and integrating generative AI to accelerate the development of lightweight, compact, and all-day AR glasses. For AR glasses, Himax offers three critical technologies, namely LCoS microdisplay, WLO waveguide, and ultralow power WiseEye AI,” continued Mr. Jordan Wu.

“Himax’s WLO technology plays a critical role in CPO by providing essential optical coupling capability, making it a core element of the solution. The prospect of CPO remains unchanged and the widespread adoption of CPO for data transmission to be conducted via optics instead of metal wire is on track in high-performance AI applications. Through WLO and CPO technologies, Himax is well-positioned to engage in the high-speed AI computing market with high expectations for its growth,” concluded Mr. Jordan Wu.

Fourth Quarter 2024 Financial Results

Himax net revenues registered $237.2 million, an increase of 6.7% sequentially, significantly exceeding Company’s guidance range of a slight decrease to flat, and up 4.2% year-over-year. Gross margin reached 30.5%, exceeding its guidance of flat to slightly up from 30.0% in the previous quarter, and up from 30.3% in the same period last year. The sequential increase was driven by a favorable product mix and cost improvements. Q4 profit per diluted ADS was 14.0 cents, considerably above the guidance range of 9.3 cents to 11.0 cents, thanks to better-than-expected revenues and improved costs.

Revenue from large display drivers came in at $25.0 million, reflecting a 18.6% sequential decline. The decrease was primarily attributed to continued customer destocking after substantial Q2 replenishment for shopping festivals, as well as heightened price competition from Chinese peers. Sales of large panel driver ICs accounted for 10.5% of total revenues for the quarter, compared to 13.8% last quarter and 14.8% a year ago.

Small and medium-sized display driver segment totaled $166.8 million, an increase of 7.4% sequentially, exceeding its guidance of flat quarter-over-quarter, thanks to stronger-than-expected sales in the automotive and tablet markets. Q4 automotive driver sales, including both traditional DDIC and TDDI, experienced mid-teens increase, significantly outperforming Company’s expectation of a single digit increase, with both DDIC and TDDI showing stronger-than-expected sales. This surge was primarily driven by continued rush orders from Chinese panel customers, carried over from Q3, following the Chinese government’s renewed trade-in stimulus initiative announced in mid-August 2024 to boost automobile consumption. Remarkably, Himax’s Q4 automotive TDDI sales have exceeded DDIC sales for the first time, underscoring the global adoption of Company’s TDDI solutions, which are increasingly essential in modern vehicles, and reflects the growing demand for more intuitive, interactive, and cost-effective touch panel features powered by TDDI technology. Himax’s automotive business, comprising drivers, Tcon, and OLED IC sales, accounted for around 50% of total Q4 revenues. Meanwhile, Q4 tablet IC sales exceeded the guidance of a low teens decline, with sales up slightly sequentially driven by rush orders from leading end customers. Q4 smartphone IC sales declined slightly, in line with its guidance. The small and medium-sized driver IC segment accounted for 70.3% of total sales for the quarter, compared to 69.9% in the previous quarter and 71.6% a year ago.

Fourth quarter revenues from its non-driver business reached $45.4 million, exceeding the guidance range, with a 24.9% increase from the previous quarter. The growth was primarily driven by a one-time ASIC Tcon product shipment to a leading projector customer and Tcon for monitor application. In Q4, automotive Tcon sales continued to grow sequentially, due to the widespread adoption of Himax’s market-leading local dimming Tcon with over two hundred secured design-win projects across major panel makers, Tier 1 suppliers, and automotive manufacturers worldwide. Non-driver products accounted for 19.2% of total revenues, as compared to 16.3% in the previous quarter and 13.6% a year ago.

Fourth quarter operating expenses were $49.2 million, a decrease of 19.1% from the previous quarter and a decline of 6.0% from a year ago. The sequential decrease stemmed primarily from a reduction in annual employee bonuses, partially offset by an increase in R&D expenses. As part of Company’s standard practice, Himax grants annual bonuses, including cash and RSUs, to employees at the end of September each year. This results in higher IFRS operating expenses in the third quarter compared to the other quarters of the year. The year-over-year decrease was mainly due to a decline in employee bonus compensation as the amortized portion of prior year’s bonuses for 2023 was higher than that for 2024, offsetting the higher annual bonus compensation grant for 2024 compared to 2023. Amid ongoing macroeconomic challenges, Himax is strictly enforcing budget and expense controls, with full-year 2024 operating expenses declining 5.6% compared to last year.

Fourth quarter operating income was $23.1 million or 9.7% of sales, compared to 2.6% of sales last quarter and 7.3% of sales for the same period last year. The sequential increase was primarily the result of higher sales, improved gross margin, and lower operating expenses. The year-over-year increase was primarily the result of higher sales, higher gross margin, and lower employee bonus compensation due to the amortized portion of the prior year’s bonuses. Fourth-quarter after-tax profit was $24.6 million, or 14.0 cents per diluted ADS, reflecting a meaningful increase from $13.0 million, or 7.4 cents per diluted ADS last quarter, and up from $23.6 million, or 13.5 cents in the same period last year.

Full Year 2024 Financial

Revenues totaled $906.8 million, a slight decline of 4.1% compared to 2023. Persistent global demand weakness, coupled with uncertainty about market trends, led to conservative purchasing decisions and inventory management by Company’s panel customers. Given this uncertainty, Himax implemented strict expense controls, resulting in a 5.6% reduction in operating expenses for the year. However, Company’s optimism in the automotive business remains unwavering, with automotive IC sales increasing by nearly 20% year-over-year in 2024, far outpacing the overall automotive market growth. Among Company’s automotive product lines, automotive TDDI and Tcon sales, both relatively new technologies, surged by more than 70%, driven by accelerated adoption across the board. This growth strengthened Company’s market leadership and positions Himax well for continued success as the automotive sector embraces more advanced technology resulting from the mega trend of increasing size, quantity, and sophistication of displays inside vehicles.

Revenue from large panel display drivers totaled $125.9 million in 2024, marking a decrease of 28.3% year-over-year, and representing 13.9% of total sales, as compared to 18.6% in 2023. Small and medium-sized driver sales totaled $625.4 million, reflecting a slight decrease of 0.6% year-over-year, and accounting for 69.0% of its total revenues, as compared to 66.5% in 2023. Non-driver product sales totaled $155.5 million, an increase of 10.6% year-over-year, and representing 17.1% of Company’s total sales, as compared to 14.9% a year ago.

Gross margin in 2024 was 30.5%, up from 27.9% in 2023. The margin expansion was driven by a strategic focus on cost improvements and operational efficiency optimization, combined with a favorable product mix that included a higher percentage of high-margin products such as automotive and Tcon. The successful diversification of foundry sources also contributed to the margin increase.

Operating expenses in 2024 were $208.0 million, a decline of 5.6% from 2023, primarily due to lower employee bonus compensation, as the amortized portion of bonuses in 2023 was higher than that in 2024. 2024 operating income was $68.2 million, or 7.5% of sales, an increase from $43.2 million, or 4.6% of sales, in 2023. Himax’s net profit for 2024 was $79.8 million, or $0.46 per diluted ADS, significantly up from $50.6 million, or $0.29 per diluted ADS in 2023.

Balance Sheet and Cash Flow

Himax had $224.6 million of cash, cash equivalents and other financial assets as of December 31, 2024. This compares to $206.4 million at the same time last year and $206.5 million a quarter ago. Himax achieved a strong positive operating cash flow of $35.4 million for the fourth quarter, compared to a cash outflow of $3.1 million in Q3. Company made a total of $30.1 million annual cash bonus to employees, resulting in the low operating cash flow of the quarter. As of December 31, 2024, Himax had $34.5 million in long-term unsecured loans, with $6.0 million representing the current portion.

The Company’s inventories as of December 31, 2024 were $158.7 million, lower than $192.5 million last quarter and $217.3 million at the end of last year. Company’s inventory levels have steadily declined over the past couple of quarters and are now at a healthy level. Accounts receivable at the end of December 2024 was $236.8 million, little changed from $224.6 million last quarter and $235.8 million a year ago. DSO was 96 days at the quarter end, as compared to 92 days last quarter and 91 days a year ago. Fourth quarter capital expenditures were $3.2 million, versus $2.6 million last quarter and $15.1 million a year ago. Fourth quarter capex was mainly for R&D related equipment for Company’s IC design business. Total capital expenditures for 2024 were $13.1 million as compared to $23.4 million in 2023. The decrease was primarily due to reduced spending on in-house testers for Company’s IC design business in 2024.

Outstanding Share

As of December 31, 2024, Himax had 174.9 million ADS outstanding, little changed from last quarter. On a fully diluted basis, the total number of ADS outstanding for the fourth quarter was 175.1 million.

Q1 2025 Outlook

In 2024, Himax’s sales revenues in each quarter consistently outperformed guidance. While this strong performance is certainly commendable, it also highlights the challenges Company faced such as limited market visibility and conservative customer demand, where many customers relied on rush orders to address their actual demands. On the other hand, rush orders are indicative of the tight inventory position of Company’s panel customers in general. In the past few quarters, Himax has consistently demonstrated its ability to handle most of such rush orders, underscoring Company’s agility, adaptability, strong capabilities in inventory management, and swift market responsiveness.

The automotive IC sales remained Company’s largest revenue contributor in 2024, accounting for almost half of total revenues and achieving close to 20% annual growth. This performance highlights Himax’s automotive leadership in technological innovations, product development, and market share. Looking ahead, Himax expects its automotive TDDI and Tcon technologies to maintain growth momentum, further strengthening its market competitiveness. Beyond LCD technology, Himax is advancing development in the automotive OLED sector, with numerous projects currently underway in partnership with leading panel makers. Company anticipates that automotive OLED IC will serve as one of the key growth drivers for Himax in the coming years, further solidifying its leadership in automotive display market.

Meanwhile, Himax is actively expanding its technology development beyond display ICs. To that end, in the WiseEye AI segment, Company has made notable progress with leading notebook brands and achieved significant breakthroughs in smart door lock, palm vein authentication, and smart home applications, collaborating with world-leading customers to develop new innovations. Himax anticipates a strong growth trajectory in its WiseEye business in 2025 and beyond.

Himax’s proprietary wafer-level optics (WLO) technology for co-packaged optics (CPO) has recently garnered significant attention in the capital markets. In fact, as early as June 2024, Himax and FOCI, a global leader in silicon photonics connectors, jointly announced the industry-leading CPO technology. The collaboration, spanning several years, unites Himax’s WLO technology with FOCI’s CPO solutions for cutting-edge AI multi-chip modules (MCM). Since the announcement, Himax has provided updates on the latest progress in each quarterly earnings call. Himax’s WLO technology plays a critical role in CPO by providing essential optical coupling capability, making it a core element of the solution. CPO significantly enhances bandwidth and accelerates data transmission while reducing signal loss, latency, and power consumption. Additionally, it can help drastically decrease the size and cost of MCM.

While CPO is still in engineering validation and trial production stage this year, with customer’s mass production timelines undisclosed and the recent AI market disruptions from DeepSeek, the prospect of CPO remains unchanged. The widespread adoption of CPO for data transmission to be conducted via optics instead of metal wire is on track in high-performance AI applications. This is evident by the significant increase in customer’s recent trial production volume forecast, indicating an accelerated timeline for CPO technology to enter mass production. Furthermore, Himax and FOCI, in close collaboration with leading AI customers and partners, are actively developing future generations of CPO technologies to meet the explosive high-speed optical data transmission demand in HPC and AI. Through WLO and CPO technologies, Himax is well-positioned to engage in the high-speed AI computing market with high expectations for its growth. Company believes that CPO technology, beyond cloud applications, will see further adoption in sectors such as automotive and robot in the future. Himax’s current goal is to accelerate CPO adoption in cloud applications, thereby helping drive broader CPO adoption in AI applications.

At CES this year, Himax showcased a wide range of innovative achievements, including automotive display technology, WiseEye AI, and advanced optical technologies for AR/VR. Notably, a clear trend emerged at this year’s CES as the industry demonstrated growing enthusiasm for AR glasses, fueled by more companies entering the space and integrating generative AI to accelerate the development of lightweight, compact, and all-day AR glasses. For AR glasses, Himax offers three critical technologies, namely LCoS microdisplay, WLO waveguide, and ultralow power WiseEye AI. Company’s latest, patented Front-lit LCoS Microdisplay delivers unparalleled brightness with an industry-leading 400k nits, exceptional optical power efficiency, compact form factor, lightweight, and superior display quality, making it one of the most viable solutions in the see-through AR glasses market. In waveguide, in collaboration with leading tech names, Himax leverages proprietary WLO expertise, built on advanced nanoimprint technology, to offer industry-leading optical solutions that optimize light transmission and display efficiency. In the field of AI sensing for AR glasses, Himax’s WiseEye provides always-on AI sensing capabilities which are being applied by developers to significantly enhance AR interactivity while consuming just a few milliwatts of power.

In automotive display IC technology, Himax unveiled the industry’s most comprehensive LCD and OLED solutions at CES, showcasing a range of next-generation smart cabin technologies. These solutions not only improve the intuitive operation of smart cabins but also enhance driving safety and provide an exceptional user experience. A prime example is the advanced Display HMI solution developed in collaboration with AUO which meets the demands for large-size, high-resolution, and freeform automotive displays.

At CES, Himax also partnered with several AI ecosystem partners to showcase its ultralow power WiseEye Modules over a range of innovative, production-ready AIoT applications. These applications include palm vein authentication, baby cry detection, people flow management, and human sensing detection. The modules are designed for easy integration, making it highly suitable for various AIoT applications.

Display Driver IC Businesses

LDDIC

In Q1 2025, Himax anticipates a single digit sequential sales increase for large display driver ICs, driven by demand spurred by Chinese government subsidies for household appliances aimed at reviving demand in the sluggish household sector. Notebook and monitor sales are expected to increase in Q1. In contrast, TV IC sales are set to decline as customers pulled forward their inventory purchases in the prior quarter, coupled with the seasonal slowdown in Q1.

Looking ahead in the notebook sector, Company is seeing an increase in demand for premium notebooks to adopt OLED displays and touch features, partially fueled by the rise of AI PC. Himax is well-positioned to capitalize on this trend, offering a comprehensive range of ICs for both LCD and OLED notebooks, including DDIC, Tcon, touch controllers, and TDDI. A standout innovation is Company’s pioneering in-cell touch TDDI for LCD displays, which improves the ease of system design and integration by embedding the touch controller within the TDDI chip while maintaining the conventional display driver setup for Tcon data transmission. This design simplifies integration for customers, reducing engineering complexity and speeding up product development. This solution also supports high-resolution displays up to 4K and larger screens up to 16 inches, aligning with the growing demand for advanced, visually stunning, and immersive laptops. With mass production already underway for a leading notebook vendor’s AI PC, more projects are lined up. For OLED notebooks, in addition to Company’s OLED DDIC and Tcon solutions, Himax is also developing on-cell touch controller technology, with multiple projects underway with top panel makers and notebook vendors. Last but not least, progress has been made on the next-generation eDP 1.5 display interface for Tcon for both LCD and OLED panels. This interface will support high frame rates, low power consumption, adaptive sync, and high resolution, key features essential for next-generation AI PCs. By delivering innovative, cutting-edge technologies, Himax is well-positioned to lead in the rapidly evolving landscape of AI PCs and premium notebooks.

SMDDIC

On SMDDIC revenue, for the full year 2024, Himax’s automotive driver IC sales, comprising of TDDI and traditional DDIC, increased nearly 20% year-over-year, significantly outpacing global automotive growth, largely driven by the continued adoption of TDDI technology among major customers across all continents. However, Himax anticipates Q1 automotive revenue to decline low teens sequentially, following two quarters of surge demand. Despite this, Q1 automotive sales are still projected to increase by mid-teens on a year-over-year basis. In the automotive TDDI sector, with cumulative shipments significantly surpassing those of Himax’s competitors, Company continues to reinforce its market leadership, which currently stands at well over 50%. With nearly 500 design-in projects secured and a continuous influx of new pipeline and design-wins across the board, of which only 30% already in mass production, Himax expects to sustain this decent growth in the years ahead. While traditional automotive DDIC sales for 2024 declined due to their gradual, partial replacement by TDDI, Company’s DDIC shipment volume still saw a modest increase in the last year. This demonstrates the steady demand for mature DDIC products, such as those used in cluster displays, HUDs, and rear- and side-view mirrors, which do not require touch functionality. Furthermore, the long-term trust and loyalty from Company’s DDIC customers, some of whom have relied on Himax’s solutions for over a decade, is indicative of Company’s strong customer retention. Himax continues to lead the automotive DDIC market, maintaining a global market share of approximately 40%.

Himax continues to lead in automotive display IC innovation by pioneering solutions that deliver superior performance, power efficiency, and enhanced user experiences. As part of this ongoing innovation, Company’s latest TED (Tcon Embedded Driver IC) solution, which combines TDDI with local dimming Tcon into a single chip, provides a cost-effective, flexible, and comprehensive solution for its customers. Another new technology worth highlighting is Himax’s automotive TDDI with advanced user-aware touch control, which differentiates between driver and passenger touches to prevent cross-touch and enhance driving safety. In addition, Company offers a unique knob-on-in-cell-display solution that combines a physical knob with a TDDI. This design seamlessly merges in-cell touch technology with tactile controls, offering drivers a safer, more intuitive interaction that reduces distractions and enhances the overall driving experience.

Moving to smartphone and tablet IC sales, Himax expects a sequential decline in both product lines, as is typical during the low season in Q1 due to the Lunar New Year.

On OLED business update. In the automotive OLED market, Company has established strategic partnerships with leading panel makers in Korea, China, and Japan. As OLED technology extends beyond premium car models, Himax is well-positioned as the preferred partner, leveraging Company’s strong presence and proven track record in the automotive LCD display sector. Capitalizing on Himax’s first-mover advantage, Himax aims to drive the growing adoption of OLED in automotive displays by offering a comprehensive range of solutions, including DDIC, Tcon, and on-cell touch controller. Company believes this positions it as a primary beneficiary of the anticipated shift toward OLED displays for high end vehicles in a couple of years, enabling Himax to capture new growth opportunities and further strengthen its market leadership.

Beyond the automotive sector, Company has also made strides in the tablet and notebook markets, partnering with leading OLED panel makers in Korea and China. Himax’s comprehensive OLED product portfolio, covering DDIC, Tcon, and touch controllers, has driven several new projects that are on track to begin mass production this year. In the smartphone OLED market, Company is making solid progress in collaborations with customers in Korea and China and anticipates mass production to start later this year.

First quarter small and medium-sized display driver IC business is expected to decline low teens sequentially.

Non-Driver Product Categories

Q1 non-driver IC revenues are expected to decrease high teens sequentially.

Timing Controller (Tcon)

Himax anticipates Q1 2025 Tcon sales to decrease mid-teens sequentially, primarily due to the non-recurrence of a one-time ASIC Tcon shipment to a leading projector customer last quarter, as well as a moderation in automotive Tcon shipments following several quarters of strong growth. That being said, Himax maintains an unchallenged position in local dimming Tcon, evidenced by growing validation and widespread adoption in both premium and mainstream car models worldwide. Company is confident in the continued growth of its automotive Tcon business, supported by its strong market presence in local dimming Tcon, with strong pipeline of over two hundred design-win projects set to gradually enter production in the coming years. Heads-up display (HUD) is another field gaining traction within automotive displays, driving increased adoption of local dimming Tcon technology and emerging as a particularly promising application. Himax’s industry-leading local dimming Tcon provides distinct advancements with high contrast ratio and optimized power consumption. It effectively eliminates the “postcard effect” often seen in HUDs, caused by backlight leakage typical of conventional TFT LCD panels, ensuring clear and precise images on the windshield. Additionally, the Tcon features advanced transparency detection to prevent the display from obstructing the driver’s view, thereby ensuring driving safety. Several HUD projects are already in progress, and Himax is excited about the potential opportunities ahead. Company is well positioned for continuous growth in automotive Tcon over the next few years.

WiseEye™ Ultralow Power AI Sensing

On the update of WiseEye™ ultralow power AI sensing solution, a cutting-edge endpoint AI integration featuring industry-leading ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm. WiseEye AI delivers a significant competitive edge in the rapidly growing AI market through its ultralow power consumption and context-aware, on-device AI inferencing that seamlessly integrates vision and other sensing capabilities into endpoint applications, particularly battery-powered devices. This not only enhances intuitive user interaction but also makes AI more practical and accessible. Additionally, WiseEye AI offloads tasks from the main processor, effectively extending battery lifespan and improving overall data processing efficiency. Building on the success with Dell notebooks, Himax WiseEye AI is continuing to expand its market presence, with additional use cases expected across other leading notebook brands, some of which are set for production later this year.

WiseEye also continues to achieve significant market success across various sectors. For smart door lock, Company collaborated with DESMAN, a leading high-end brand in China, to introduce the world’s first smart door lock with 24/7 sentry monitoring and real-time event recording. Building on this achievement, Himax is expanding globally by collaborating with other leading door lock makers worldwide to integrate innovative AI features, including parcel recognition, anti-pinch protection, and palm vein biometric access, further extending application possibilities. Several of these value-added solutions are set to enter production later this year. At CES 2025, Himax joined forces with ecosystem partners to unveil a suite of innovative, production-ready AIoT applications, powered by Company’s tiny form factor, plug-and-play WiseEye Modules. Himax offers a series of modules, each incorporating an ultralow power WiseEye AI processor, an AoS image sensor, and advanced algorithms. The modules feature no-code/low-code AI platform capabilities, simplifying AI integration and supporting diverse use cases, such as human presence detection, gender and age recognition, gesture recognition, face mesh, voice command, thermal image sensing, pose estimation and people flow management. By streamlining deployment and reducing development costs, WiseEye Modules open new opportunities for automation, enhance interactivity, and elevate user experiences across a variety of industries.

A broad range of innovative, ultralow power WiseEye Modules are also under development in collaboration with ecosystem partners, such as crying baby detection, dynamic gesture recognition, and human sensing, among others. One standout in Himax’s WiseEye Module portfolio is the Himax WiseEye PalmVein solution, which has quickly gained traction since its introduction just one year ago. Company has secured multiple design wins, with mass production already underway by a US customer for smart access applications and a Taiwan-based door lock vendor for its leading smart door lock brands. To meet growing customer demand for flexibility across various environments, the upgraded WiseEye PalmVein suite now features bimodal authentication, combining both palm vein and face recognitions. This dual-authentication solution enhances security by offering two layers of biometric verification, which not only increases reliability but also makes it highly adaptable to various environments.

The rise of physical AI agents marks a significant shift in human-machine interaction, enabling devices to perceive, process, and respond to their surroundings in real time. A key emerging trend is the integration of cloud-based large language models (LLMs), which enables these agents’ advanced reasoning and language understanding, enhancing their ability to interact with and adapt to the physical world. Himax WiseEye AI is at the forefront of this revolution, delivering always-on sensor fusion, ultralow power on-device processing, while seamlessly interfacing with LLMs, to provide the essential real-time AI capabilities for next-generation applications. A good illustration of this innovation was showcased at CES 2025, where Himax and Seeed Studio introduced the SenseCAP Watcher, a physical AI agent powered by WiseEye AI. Equipped with vision and audio sensor fusion, along with a speaker, this battery-powered IoT device combines on-device AI with cloud-based LLMs to interpret commands, recognize objects, respond to events, and facilitate real-time interaction. Drawing from the success of SenseCAP Watcher, Himax is actively working on multiple projects leveraging WiseEye AI to further drive advancements in physical AI agent applications.

Separately, Himax is excited about its collaboration with a leading AR player to integrate WiseEye AI into the next generation of AR glasses. At CES, there was a renewed enthusiasm on AR glasses with AI becoming an integral component to enable intuitive and seamless human-device interaction. WiseEye AI addresses two critical challenges in AR glasses, namely real-time responsiveness and power efficiency. For example, WiseEye supports always-on outward sensing, enabling AR glasses to detect and analyze the surrounding environment with real time context-aware AI. This capability powers instant response, real-time object recognition, navigation assistance, translation, and environmental mapping, enhancing the overall AR experience. Notably, WiseEye AI’s exceptional ultralow power consumption, measured in single digit milliwatts, also make it perfectly suited for AR glasses for all-day wear. In another example, Company collaborates with Ganzin on eyeball tracking technology, which, powered by WiseEye, precisely detects subtle eyeball movements, gaze direction, pupil size, and blinking, thereby providing critical data for the enhancement of user interaction in AR glasses.

Wafer Level Optics (WLO)

In June 2024, Himax, in partnership with FOCI, a world leader in silicon photonics connector, unveiled an industry-leading co-packaged optics (CPO) technology, leveraging Himax state-of-the-art WLO technology. This innovation integrates silicon photonic chips and optical connectors within MCM, replacing traditional metal wire transmission with high-speed optical communication. The technology significantly enhances bandwidth, boosts data transmission rates, reduces signal loss and latency, lowers power consumption, and significantly minimizes the size and cost of MCM. In working closely with FOCI, Himax is making significant strides through a solid partnership with leading AI semiconductor companies and foundry, with small-scale production of the first-generation CPO solution already underway. The significant increase in Q1 engineering validation and trial production volume, combined with the anticipated sample volume increases in the coming quarters, is a strong indication that CPO technology is being accelerated toward mass production. In addition, in close collaboration with leading AI customers/partners, Himax is speeding up the development of CPO technology for the next few generations. Himax is more optimistic than ever about the outlook for its WLO business, which is poised to generate significant growth opportunities and become a major revenue and profit contributor in the years ahead.

Alongside the CPO progress, Company is witnessing a rise in engineering collaborations with global technology leaders who are utilizing Himax’s WLO expertise to make advanced waveguides for AR glasses, highlighting the growing recognition of Company’s WLO capabilities.

LCoS

On the update on LCoS, Company recently introduced its industry-leading 400K nits ultra-luminous Front-lit LCoS Microdisplay, setting a new benchmark for brightness with extremely low power consumption of merely 300mW. At CES 2025, Company showcased an AR glasses POC (Proof-Of-Concept) featuring the microdisplay with a third-party waveguide, achieving over 1,000 nits of brightness to the eye. This demonstration highlighted its suitability for outdoor, high ambient light conditions. With a lightweight of just 0.98 grams and ultra-compact form factor of less than 0.5 c.c., combined with excellent color performance, Himax’s Front-lit LCoS Microdisplay is ideal for all-day AR glasses and underscores the technology’s readiness for real-world applications.

Following the recent release of Himax’s 400K nits ultra-luminous Front-lit LCoS Microdisplay, Himax is actively engaged in significant projects through strategic collaborations with industry leaders. Himax’s proven track record of over a decade in LCoS technology, coupled with a history of successful production shipments, highlights Company’s readiness to meet the demands of large-scale production of AR glasses.

First Quarter 2025 Guidance
Net Revenue:	Decrease 8.5% to 12.5% QoQ, Flat to Up 4.6% YoY
Gross Margin:	Around 30.5%, depending on final product mix
Profit:	9.0 cents to 11.0 cents per diluted ADS, Up 26% to 54% YoY

Himax noticed that some peers’ customers placed orders early due to tariff factors, especially in the consumer electronics sector, resulting in Q1 revenue forecasts exceeding normal seasonal demand. In contrast, no similar trend has been observed in the automotive semiconductor market. Since Himax’s automotive business accounts for more than half of its total revenues, Himax’s Q1 revenue forecast has not benefited from tariff factors.

HIMAX TECHNOLOGIES FOURTH QUARTER AND FULL YEAR 2024 EARNINGS CONFERENCE CALL
DATE:	Thursday, February 13, 2025
TIME:	U.S. 8:00 a.m. EST Taiwan 9:00 p.m.

Live Webcast (Video and Audio): http://www.zucast.com/webcast/br8wqbB4 Toll Free Dial-in Number (Audio Only):
	Hong Kong 2112-1444 Taiwan 0080-119-6666 Australia 1-800-015-763 Canada 1-877-252-8508 China (1) 4008-423-888 China (2) 4006-786-286 Singapore 800-492-2072 UK 0800-068-8186 United States (1) 1-800-811-0860 United States (2) 1-866-212-5567
Dial-in Number (Audio Only):
	Taiwan Domestic Access 02-3396-1191 International Access +886-2-3396-1191
Participant PIN Code: 3329013 #

If you choose to attend the call by dialing in via phone, please enter the Participant PIN Code 3329013 # after the call is connected. A replay of the webcast will be available beginning two hours after the call on www.himax.com.tw. This webcast can be accessed by clicking on this link or Himax’s website, where it will remain available until February 13, 2026.

About Himax Technologies, Inc.
Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEye™ Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,649 patents granted and 402 patents pending approval worldwide as of December 31, 2024.

http://www.himax.com.tw

Forward Looking Statements

Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2023 filed with the SEC, as may be amended.

Company Contacts:

Eric Li, Chief IR/PR Officer
Himax Technologies, Inc.
Tel: +886-6-505-0880
Fax: +886-2-2314-0877
Email: hx_ir@himax.com.tw
www.himax.com.tw

Karen Tiao, Investor Relations
Himax Technologies, Inc.
Tel: +886-2-2370-3999
Fax: +886-2-2314-0877
Email: hx_ir@himax.com.tw
www.himax.com.tw

Mark Schwalenberg, Director
Investor Relations – US Representative
MZ North America
Tel: +1-312-261-6430
Email: HIMX@mzgroup.us
www.mzgroup.us

-Financial Tables-

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Profit or Loss
(These interim financials do not fully comply with IFRS because they omit all interim disclosure required by IFRS)
(Amounts in Thousands of U.S. Dollars, Except Share and Per Share Data)
	Three Months Ended December 31,						3 Months Ended September 30,
		2024			2023			2024

Revenues
Revenues from third parties, net	$	237,182		$	227,664		$	222,401
Revenues from related parties, net		41			14			6
		237,223			227,678			222,407

Costs and expenses:
Cost of revenues		164,963			158,669			155,795
Research and development		37,584			41,088			46,880
General and administrative		5,711			5,831			6,828
Sales and marketing		5,886			5,409			7,048
Total costs and expenses		214,144			210,997			216,551

Operating income		23,079			16,681			5,856

Non operating income (loss):
Interest income		2,042			1,934			2,297
Changes in fair value of financial assets at fair value through profit or loss		1,245			1,710			27
Foreign currency exchange gains (losses), net		690			(1,525	)		457
Finance costs		(964	)		(1,140	)		(1,018	)
Share of losses of associates		(360	)		(14	)		(143	)
Other losses		–			(1,932	)		–
Other income (losses)		60			(362	)		105
		2,713			(1,329	)		1,725
Profit before income taxes		25,792			15,352			7,581
Income tax expense (benefit)		761			(7,933	)		(5,174	)
Profit for the period		25,031			23,285			12,755
Loss (profit) attributable to noncontrolling interests		(423	)		280			268
Profit attributable to Himax Technologies, Inc. stockholders	$	24,608		$	23,565		$	13,023

Basic earnings per ADS attributable to Himax Technologies, Inc. stockholders	$	0.141		$	0.135		$	0.075
Diluted earnings per ADS attributable to Himax Technologies, Inc. stockholders	$	0.140		$	0.135		$	0.074

Basic Weighted Average Outstanding ADS		175,008			174,724			174,727
Diluted Weighted Average Outstanding ADS		175,146			174,979			174,987

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Profit or Loss
(Amounts in Thousands of U.S. Dollars, Except Share and Per Share Data)

	Twelve Months Ended December 31,
		2024			2023

Revenues
Revenues from third parties, net	$	906,737		$	945,309
Revenues from related parties, net		65			119
		906,802			945,428

Costs and expenses:
Cost of revenues		630,601			681,931
Research and development		160,329			171,392
General and administrative		24,121			25,037
Sales and marketing		23,530			23,856
Total costs and expenses		838,581			902,216

Operating income		68,221			43,212

Non operating income (loss):
Interest income		9,907			8,746
Changes in fair value of financial assets at fair value through profit or loss		1,363			1,655
Foreign currency exchange gains (losses), net		2,491			(768	)
Finance costs		(4,014	)		(6,080	)
Share of losses of associates		(831	)		(598	)
Other losses		–			(1,932	)
Other income		198			158
		9,114			1,181
Profit before income taxes		77,335			44,393
Income tax benefit		(2,435	)		(5,028	)
Profit for the period		79,770			49,421
Loss (profit) attributable to noncontrolling interests		(15	)		1,195
Profit attributable to Himax Technologies, Inc. stockholders	$	79,755		$	50,616

Basic earnings per ADS attributable to Himax Technologies, Inc. stockholders	$	0.456		$	0.290
Diluted earnings per ADS attributable to Himax Technologies, Inc. stockholders	$	0.456		$	0.290

Basic Weighted Average Outstanding ADS		174,796			174,495
Diluted Weighted Average Outstanding ADS		175,014			174,783

Himax Technologies, Inc.
IFRS Unaudited Condensed Consolidated Statements of Financial Position
(Amounts in Thousands of U.S. Dollars)

	December 31, 2024			December 31, 2023			September 30, 2024
Assets
Current assets:
Cash and cash equivalents	$	218,148		$	191,749		$	194,139
Financial assets at amortized cost		4,286			12,511			12,335
Financial assets at fair value through profit or loss		2,140			2,117			–
Accounts receivable, net (including related parties)		236,813			235,829			224,589
Inventories		158,746			217,308			192,458
Income taxes receivable		726			1,454			986
Restricted deposit		503,700			453,000			503,700
Other receivable from related parties		13			69			22
Other current assets		43,471			86,548			42,581
Total current assets		1,168,043			1,200,585			1,170,810
Financial assets at fair value through profit or loss		23,554			21,650			26,383
Financial assets at fair value through other comprehensive income		28,226			1,635			22,457
Equity method investments		8,571			3,490			2,945
Property, plant and equipment, net		121,280			130,109			122,333
Deferred tax assets		21,193			14,196			13,806
Goodwill		28,138			28,138			28,138
Other intangible assets, net		636			816			717
Restricted deposit		31			32			31
Refundable deposits		221,824			222,025			221,879
Other non-current assets		18,025			20,728			18,484
		471,478			442,819			457,173
Total assets	$	1,639,521		$	1,643,404		$	1,627,983
Liabilities and Equity
Current liabilities:
Current portion of long-term unsecured borrowings	$	6,000		$	6,000		$	6,000
Short-term secured borrowings		503,700			453,000			503,700
Accounts payable (including related parties)		113,203			107,342			121,384
Income taxes payable		9,514			15,309			2,324
Other payable to related parties		–			110			–
Contract liabilities-current		10,622			17,751			25,694
Other current liabilities		63,595			109,291			54,673
Total current liabilities		706,634			708,803			713,775
Long-term unsecured borrowings		28,500			34,500			30,000
Deferred tax liabilities		564			520			505
Other non-current liabilities		7,496			35,879			11,361
		36,560			70,899			41,866
Total liabilities		743,194			779,702			755,641
Equity
Ordinary shares		107,010			107,010			107,010
Additional paid-in capital		115,376			114,648			115,285
Treasury shares		(5,546	)		(5,157	)		(4,714	)
Accumulated other comprehensive income		8,621			(180	)		3,507
Retained earnings		664,600			640,447			644,596
Equity attributable to owners of Himax Technologies, Inc.		890,061			856,768			865,684
Noncontrolling interests		6,266			6,934			6,658
Total equity		896,327			863,702			872,342
Total liabilities and equity	$	1,639,521		$	1,643,404		$	1,627,983

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
(Amounts in Thousands of U.S. Dollars)
	Three Months Ended December 31,						Three Months Ended September 30,
		2024			2023			2024

Cash flows from operating activities:
Profit for the period	$	25,031		$	23,285		$	12,755
Adjustments for:
Depreciation and amortization		5,564			5,115			5,640
Share-based compensation expenses		103			346			407
Losses (gains) on disposals of property, plant and equipment, net		4			(368	)		–
Loss on re-measurement of the pre-existing relationships in a business combination		–			1,932			–
Changes in fair value of financial assets at fair value through profit or loss		(1,245	)		(1,710	)		(27	)
Interest income		(2,042	)		(1,934	)		(2,297	)
Finance costs		964			1,140			1,018
Income tax expense (benefit)		761			(7,933	)		(5,174	)
Share of losses of associates		360			14			143
Inventories write downs		4,037			5,727			2,269
Unrealized foreign currency exchange losses (gains)		(159	)		1,517			228
		33,378			27,131			14,962
Changes in:
Accounts receivable (including related parties)		(27,302	)		8,163			8,548
Inventories		29,675			36,580			8,964
Other receivable from related parties		9			(29	)		33
Other current assets		2,502			(5,682	)		(778	)
Accounts payable (including related parties)		(7,706	)		(627	)		(26,101	)
Other payable to related parties		1			363			(102	)
Contract liabilities		6			(958	)		667
Other current liabilities		2,508			3,014			(4,161	)
Other non-current liabilities		71			393			(3,354	)
Cash generated from operating activities		33,142			68,348			(1,322	)
Interest received		3,513			2,665			860
Interest paid		(1,047	)		(1,140	)		(1,018	)
Income tax paid		(191	)		(1,131	)		(1,658	)
Net cash provided by (used in) operating activities		35,417			68,742			(3,138	)

Cash flows from investing activities:
Acquisitions of property, plant and equipment		(3,222	)		(15,052	)		(2,551	)
Proceeds from disposal of property, plant and equipment		–			111			–
Acquisitions of intangible assets		–			(40	)		(9	)
Acquisitions of financial assets at amortized cost		(2,286	)		(4,573	)		(1,500	)
Proceeds from disposal of financial assets at amortized cost		10,289			784			617
Acquisitions of financial assets at fair value through profit or loss		(6,807	)		(5,375	)		(27,934	)
Proceeds from disposal of financial assets at fair value through profit or loss		3,722			1,645			33,036
Acquisitions of financial assets at fair value through other comprehensive income		–			(1,379	)		–
Proceeds from disposal of financial assets at fair value through other comprehensive income		–			99			–
Acquisition of a subsidiary, net of cash acquired (paid)		(5,416	)		433			–
Proceeds from capital reduction of investment		338			360			–
Acquisitions of equity method investment		(1,236	)		–			–
Decrease (increase) in refundable deposits		(8	)		–			11,339
Net cash provided by (used in) investing activities		(4,626	)		(22,987	)		12,998

Cash flows from financing activities:
Purchase of treasury shares		(832	)		–			–
Prepayments for purchase of treasury shares		(2,168	)		–			–
Payments of cash dividends		–			–			(50,670	)
Payments of dividend equivalents		–			–			(233	)
Proceeds from issuance of new shares by subsidiaries		–			916			–
Purchases of subsidiaries shares from noncontrolling interests		–			(9	)		–
Proceeds from short-term unsecured borrowings		–			36,932			–
Repayments of short-term unsecured borrowings		–			(37,226	)		–
Repayments of long-term unsecured borrowings		(1,500	)		(1,500	)		(1,500	)
Proceeds from short-term secured borrowings		461,400			427,100			522,600
Repayments of short-term secured borrowings		(461,400	)		(427,100	)		(471,900	)
Pledge of restricted deposit		–			–			(50,700	)
Payment of lease liabilities		(1,340	)		(1,244	)		(979	)
Guarantee deposits received (refunded)		219			(5	)		–
Net cash used in financing activities		(5,621	)		(2,136	)		(53,382	)
Effect of foreign currency exchange rate changes on cash and cash equivalents		(1,161	)		873			985
Net increase (decrease) in cash and cash equivalents		24,009			44,492			(42,537	)
Cash and cash equivalents at beginning of period		194,139			147,257			236,676
Cash and cash equivalents at end of period	$	218,148		$	191,749		$	194,139

Himax Technologies, Inc.
Unaudited Condensed Consolidated Statements of Cash Flows
(Amounts in Thousands of U.S. Dollars)
	Twelve Months Ended December 31,
		2024			2023

Cash flows from operating activities:
Profit for the period	$	79,770		$	49,421
Adjustments for:
Depreciation and amortization		22,354			20,322
Share-based compensation expenses		1,247			2,663
Losses (gains) on disposals of property, plant and equipment, net		4			(368	)
Loss on re-measurement of the pre-existing relationships in a business combination		–			1,932
Changes in fair value of financial assets at fair value through profit or loss		(1,363	)		(1,655	)
Interest income		(9,907	)		(8,746	)
Finance costs		4,014			6,080
Income tax benefit		(2,435	)		(5,028	)
Share of losses of associates		831			598
Inventories write downs		13,551			21,540
Unrealized foreign currency exchange losses (gains)		(171	)		624
		107,895			87,383
Changes in:
Accounts receivable (including related parties)		(40,738	)		20,804
Inventories		45,011			132,090
Other receivable from related parties		56			5
Other current assets		3,941			(3,863	)
Accounts payable (including related parties)		14,567			7,676
Other payable to related parties		(110	)		(268	)
Contract liabilities		45			(37,051	)
Other current liabilities		(9,010	)		1,246
Other non-current liabilities		(2,260	)		(4,602	)
Cash generated from operating activities		119,397			203,420
Interest received		9,732			8,567
Interest paid		(4,015	)		(6,080	)
Income tax paid		(9,138	)		(53,066	)
Net cash provided by operating activities		115,976			152,841

Cash flows from investing activities:
Acquisitions of property, plant and equipment		(13,054	)		(23,378	)
Proceeds from disposal of property, plant and equipment		–			111
Acquisitions of intangible assets		(153	)		(115	)
Acquisitions of financial assets at amortized cost		(11,236	)		(6,911	)
Proceeds from disposal of financial assets at amortized cost		19,457			3,099
Acquisitions of financial assets at fair value through profit or loss		(76,003	)		(82,628	)
Proceeds from disposal of financial assets at fair value through profit or loss		70,389			75,539
Acquisitions of financial assets at fair value through other comprehensive income		(17,164	)		(1,379	)
Proceeds from disposal of financial assets at fair value through other comprehensive income		–			99
Acquisition of a subsidiary, net of cash acquired (paid)		(5,416	)		433
Proceeds from capital reduction of investment		338			360
Acquisitions of equity method investment		(1,236	)		–
Decrease (increase) in refundable deposits		33,562			(56,933	)
Cash received in advance from disposal of land		–			2,821
Net cash used in investing activities		(516	)		(88,882	)

Cash flows from financing activities:
Purchase of treasury shares		(832	)		–
Prepayments for purchase of treasury shares		(2,168	)		–
Payments of cash dividends		(50,670	)		(83,720	)
Payments of dividend equivalents		(233	)		(148	)
Proceeds from issuance of new shares by subsidiary		71			916
Purchases of subsidiaries shares from noncontrolling interests		(190	)		(9	)
Proceeds from short-term unsecured borrowings		–			47,226
Repayments of short-term unsecured borrowings		–			(47,226	)
Repayments of long-term unsecured borrowings		(6,000	)		(6,000	)
Proceeds from short-term secured borrowings		1,780,300			1,383,300
Repayments of short-term secured borrowings		(1,729,600	)		(1,299,600	)
Pledge of restricted deposit		(50,700	)		(83,700	)
Payment of lease liabilities		(5,032	)		(4,830	)
Guarantee deposits received (refunded)		(23,163	)		200
Net cash used in financing activities		(88,217	)		(93,591	)
Effect of foreign currency exchange rate changes on cash and cash equivalents		(844	)		(200	)
Net increase (decrease) in cash and cash equivalents		26,399			(29,832	)
Cash and cash equivalents at beginning of period		191,749			221,581
Cash and cash equivalents at end of period	$	218,148		$	191,749

The MIL Network –

February 13, 2025

MIL-OSI Economics: New Zealand life insurance market to reach $4.8 billion by 2029, forecasts GlobalData

Source: GlobalData

New Zealand life insurance market to reach $4.8 billion by 2029, forecasts GlobalData

Posted in Insurance

The life insurance market in New Zealand is projected to grow from NZD5.9 billion ($3.5 billion) in 2024 to NZD8.3 billion ($4.8 billion) in 2029 registering a compound annual growth rate (CAGR) of 7.0%, in terms of gross written premium (GWP), driven by increasing demand for whole life and personal accident and health (PA&H) insurance, as well as a growing awareness of protection policies, according to GlobalData, a leading data and analytics company.

GlobalData’s Insurance database indicates that the New Zealand life insurance market is expected to reach NZD6.4 billion ($3.8 billion) in gross written premiums (GWP) in 2025, registering an 8.2% annual growth. Factors fueling this growth include an aging population, heightened health awareness, and the rising cost of living, which have increased the need for financial protection.

New Zealand’s economy, primarily driven by agriculture and services, is projected to rebound with a real GDP growth rate of 2% in 2025, compared to 0.73% in 2023 and 0.24% in 2024.

Swarup Kumar Sahoo, Senior Insurance Analyst at GlobalData, comments: “Economic recovery, coupled with easing inflation and increased private investment, will support household consumption and drive demand for life insurance products. However, challenges such as high unemployment and inflation could pose risks to this growth.”

Life personal accident and health (PA&H) insurance represents the largest line of business in the New Zealand life insurance industry, accounting for 65.3% of the life insurance GWP in 2024. It is expected to grow at a CAGR of 6.9% over 2025-29, driven by rising healthcare expenditure and a resultant 10%-15% increase in premium prices in 2024.

According to the Financial Services Council (FSC), the percentage of New Zealanders with health insurance rose from 32% in 2022 to 37% in 2023, indicating a higher uptake of health policy due to growing concern regarding access to quality healthcare.

Term life insurance, which holds a 27.8% share of the life insurance GWP in 2024, is projected to grow at a CAGR of 6.4% during 2025–2029.

Sahoo adds: “Term life policies are favored for their affordability and are popular for covering mortgages and personal loans. As a result, despite economic challenges, term life insurance remains resilient.”

Whole-life insurance, the third-largest line of business, accounted for only 3.8% of the total life insurance GWP in 2024. However, it recorded an impressive CAGR of 19.2% during 2020-24 and is estimated to grow at a CAGR of 8.0% over 2025-29. According to Stats NZ, the population over 65 years old is projected to reach 1.3 million by 2040, which will drive the demand for whole-life insurance products in the country. Also, life expectancy at birth has increased from 81.6 years in 2015 to 82.9 years in 2024.

Other life insurance products are expected to make up the remaining 3.1% share of the life insurance GWP in 2024.

Sahoo concludes: “The lower life insurance penetration rate in New Zealand (1.3%) in 2023 compared to other APAC peers such as South Korea (7.4%), Hong Kong (China SAR) (15.9%), Japan (6.3%), and Singapore (7.5) provides ample growth opportunity to insurers.

“However, the rising cost of living will result in underinsurance and hinder the growth of the life insurance market. To address this issue, insurers need to introduce innovative products and leverage digital technologies to make insurance more affordable and accessible.”

MIL OSI Economics –

February 13, 2025
MIL-OSI Economics: Global deal activity down 8.4% YoY in January 2025, reveals GlobalData

Source: GlobalData

Global deal activity (mergers & acquisitions (M&A), private equity (PE) and venture financing) experienced an 8.4% decline year-on-year (YoY) in January 2025 with decrease in deal volume observed across all the regions. Asia-Pacific and Europe faced the sharpest declines, while certain markets like India, Japan, and Germany saw growth according to GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Deals Database revealed that a total of 3,800 deals were announced globally during January 2025, which is a fall from 4,148 deals announced globally during the same period in the previous year.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “The decline in deal activity across all the regions reflects the current challenges and uncertainties. Asia-Pacific and Europe experienced the most significant downturns, with their respective deal volume declining by 10.2% and 14.5% YoY during January 2025.”

On the other hand, the total number of deals announced in North America, Middle East and Africa, and South and Central American regions were down by 1.9%, 5.5% and 23.8%, respectively.

Among the select key markets, China, the UK, Canada, South Korea, France and Australia experienced YoY decline in their deal volume by 30.4%, 20.5%, 18.9%, 28.3%, 16.7% and 17.3% respectively, while markets such as India, Japan, and Germany showed improvement in deal activity by 27.3%, 35% and 8.2%, respectively.

Meanwhile the trend remained a mixed bag across the different deal types under coverage. Venture financing deals volume saw YoY decline of 9.4% during January 2025 while the number of M&A deals fell by 8.6%. However, private equity deals experienced improvement in volume by 4.5% during the review period.

Bose concludes: “The data reveals a challenging landscape for global deal activity, with a broad decline in deal volumes, particularly in certain key markets. In this shifting environment, it will be crucial for investors to stay vigilant, closely monitor these trends, and adjust their strategies to effectively navigate the evolving market dynamics.”

MIL OSI Economics –

February 13, 2025
MIL-OSI Economics: ASEAN, China strengthen commitment to closer cooperation

Source: ASEAN

NINGBO, CHINA, 13 February 2025 – ASEAN and China reaffirmed their commitment to strengthening the Comprehensive Strategic Partnership (CSP) at the 31st ASEAN-China Senior Officials’ Consultation, held today in Ningbo City, China.

China reiterated its support for ASEAN Community-building efforts and ASEAN’s central role in regional affairs. China also reaffirmed the high priority it places on its relationship with ASEAN as part of its neighbourhood diplomacy.

Both sides reviewed the continued progress of ASEAN-China cooperation over the past year. Substantive progress has been achieved in the final year of the implementation of the ASEAN-China Plan of Action 2021-2025 and its Annex to advance the CSP. ASEAN and China continued to enhance cooperation under the CSP, with a focus placed on key areas such as trade and investment, green economy, connectivity, digital ecosystems, blue economy, clean energy, agriculture and food security, culture, and tourism.

The meeting also discussed deliverables of ASEAN-China cooperation for 2025 and preparations for the upcoming ASEAN-China Ministerial Meeting in July. These deliverables include the signing of the ASEAN-China FTA 3.0 upgrade, the adoption of the new ASEAN-China Plan of Action for 2026-2030, and the establishment of the ASEAN-China Tourism Ministers meeting, among others.

China also put forward proposals for enhancing cooperation in maritime cooperation, artificial intelligence, transport, blue economy, women and children health, and environment.

Under the theme of the ASEAN-China Year of People-to-People Exchanges, various projects and activities are planned and will be implemented in ASEAN Member States and China to foster greater cultural and people-to-people connectivity.

The Senior Officials exchanged views on regional and international developments of mutual concern, underscoring the importance of strengthened cooperation in addressing security challenges, including terrorism, human trafficking, illicit drug abuse, and cybercrime.

The meeting was co-chaired by Secretary-General of the Ministry of Foreign Affairs of Malaysia, Dato’ Sri Amran Mohamed Zin, and Vice Foreign Minister of the People’s Republic of China, Sun Weidong, and attended by Senior Officials from ASEAN Member States or their representatives and the Deputy Secretary-General of ASEAN for ASEAN Political-Security Community. Timor-Leste attended as Observer.

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Images Credit: Ministry of Foreign Affairs of The People’s Republic of China
The post ASEAN, China strengthen commitment to closer cooperation appeared first on ASEAN Main Portal.

MIL OSI Economics –

February 13, 2025
MIL-OSI China: Honda, Nissan end merger talks, promise to continue cooperation

Source: China State Council Information Office

Honda Motor Co. and Nissan Motor Co. on Thursday announced the decision to terminate discussions on a potential merger, bringing an end to the restructuring attempt that could have created one of the world’s largest automotive group.

Both companies held board meetings on Thursday, where they agreed to withdraw the basic agreement signed in December 2024 and officially end merger discussions.

In the rapidly changing market environment in the age of electrification, prioritizing decision-making speed and the execution of management measures would make it more appropriate to forgo the merger at this time, Nissan said in a statement on its website.

Moving forward, the companies will continue to collaborate within the framework of the strategic partnership memorandum, the two companies said in separate statements.

Honda will hold an online press conference at 4:50 p.m. local time (0750 GMT) regarding details of the decision.

The two companies initially focused on forming a holding company that would oversee both brands, but negotiations stalled over the shareholding structure as tensions escalated when Honda proposed making Nissan its subsidiary, an idea Nissan strongly opposed.

According to local media, Honda has been pushing Nissan to accelerate its restructuring efforts. In November 2024, Nissan announced plans to cut 9,000 jobs worldwide and reduce its global production capacity by 20 percent after reporting a more than 90 percent drop in net profit for the April-September period.

MIL OSI China News –

February 13, 2025
MIL-OSI China: Chinese premier to attend closing ceremony of 9th Asian Winter Games

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

BEIJING, Feb. 13 — Chinese Premier Li Qiang will attend the closing ceremony of the 9th Asian Winter Games on Friday in Harbin, Heilongjiang Province, a Chinese foreign ministry spokesperson announced on Thursday.

Li will hold a welcoming banquet and bilateral events for foreign leaders attending the closing ceremony, the spokesperson said.

MIL OSI China News –

February 13, 2025

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