NewzIntel.com

Category: CTF

  • MIL-OSI USA: Katherine Reilly Named SEC Acting Inspector General

    Source: Securities and Exchange Commission

    The Securities and Exchange Commission today announced the appointment of Katherine Reilly as the agency’s Acting Inspector General. Ms. Reilly is currently serving as a Deputy Inspector General at the SEC. She replaces Deborah Jeffrey, who has served as the SEC’s Inspector General since 2023 and is retiring.

    “Our Inspector General’s office champions transparency and seeks to root out redundancy and overlap to ensure our agency is running as efficiently and effectively as possible,” said SEC Chairman Paul S. Atkins. “Katherine possesses the experience and expertise to continue these oversight efforts. We also thank Deb for her leadership and dedication in this area during these past two years.”

    Prior to her arrival at the SEC, Ms. Jeffrey served as inspector general at AmeriCorps for 11 years after working in the private practice of law for 25 years. She holds degrees from Johns Hopkins University and Harvard Law School, where she served as Editor-in-Chief of the Harvard Civil Rights-Civil Liberties Law Review.

    Ms. Reilly joined the SEC’s Office of Inspector General in 2020 as Counsel to the Inspector General. She later served as Acting Inspector General in a rotating role prior to Ms. Jeffrey’s arrival and served as the Acting Deputy Inspector General for Investigations from December 2022 to March 2025.

    Ms. Reilly began her career as an antitrust lawyer at the Federal Trade Commission before transitioning to private practice in the field of antitrust and commercial litigation. She joined the U.S. Postal Service Office of Inspector General (USPS-OIG) in 2005 and ascended to become Director of Legal Services before leaving in 2013 to join the U.S. Department of Justice Executive Office for Immigration Review, where she served in the roles of Chief Counsel for Employee and Labor Relations as well as Deputy Director. In June 2019, Ms. Reilly returned to the USPS-OIG as Deputy Assistant Inspector General for Mission Support.

    Ms. Reilly is a graduate of The University of Texas at Austin, where she earned her Bachelor of Arts and Juris Doctorate degrees. Ms. Reilly also has a Master of Laws degree from The University of Melbourne, Australia.

    The SEC’s Office of Inspector General is an independent unit that promotes the integrity, efficiency, and effectiveness of the SEC’s critical programs and operations through rigorous and objective oversight.

    Under the Inspector General Act of 1978, inspectors general have a dual and independent reporting relationship to the Commission and Congress. Appointments are made without regard to political affiliation and solely on the basis of integrity and demonstrated ability in accounting, auditing, financial analysis, law, management analysis, public administration, or investigations.

    MIL OSI USA News –

  • MIL-OSI USA: Justice Department Establishes Civil Rights Fraud Initiative

    Source: US Justice – Antitrust Division

    Headline: Justice Department Establishes Civil Rights Fraud Initiative

    WASHINGTON – Today, the Department of Justice announced the establishment of the Civil Rights Fraud Initiative, which will utilize the False Claims Act to investigate and, as appropriate, pursue claims against any recipient of federal funds that knowingly violates federal civil rights laws. Violations of the False Claims Act can result in treble damages and significant penalties.

    MIL OSI USA News –

  • MIL-OSI USA: Making Colorado Safer: Governor Polis Signs Bills to Strengthen Public Safety, Save Coloradans and Businesses Money on Energy, Increase Access to Healthcare, Support Advanced Industries

    Source: US State of Colorado

    COLORADO SPRINGS/PUEBLO – Today, Governor Polis signed bills into law in Colorado Spring and Pueblo to make Colorado safer by strengthening public safety, save Coloradans and businesses money on energy, expand access to the healthcare needed to thrive, support Colorado’s advanced industries, and more. 

    At the Pueblo Chamber of Commerce, Governor Polis signed HB25-1171 – Possession of Weapon by Previous Offender Crimes, sponsored by Representatives Shannon Bird and Andrew Boesenecker, and Senators Nick Hinrichsen and Dafna Michaelson Jenet. 

    “Today, we are taking important steps to make Colorado one of the top ten safest states in the nation. From now on anyone convicted of first degree motor vehicle theft ineligible to possess a firearm, keeping guns out of the wrong hands and protecting our communities. I am proud of our work to improve public safety in Colorado, and with this bill signed into law, I look forward to continuing our bold progress to protect Coloradans and our communities,” said Governor Polis. 

    Governor Polis also signed the bipartisan HB25-1177 – Utility Economic Development Rate Tariff Adjustments, sponsored by Representatives Tisha Mauro and Ty Winter and Senators Nick Hinrichsen and Byron Pelton. 

    “In Colorado, utility rates remain below the national average, and this new bipartisan law will help reduce costs, saving Coloradans and businesses money on energy. This law will provide utilities and businesses the certainty needed to secure new investment, help lower electricity costs, and allow communities and businesses to plan for the future, all while advancing our climate goals, continuing embracing new money-saving clean energy, and protecting our clean air,” said Governor Polis. 

    Governor Polis also signed SB25-008 – Adjust Necessary Document Program sponsored by Senators Nick Hinrichsen and Cathy Kipp and Representative Meg Froelich. 

    Then, Governor Polis visited SkyView Middle School, one of Colorado’s 2024 National Blue Ribbon Award Winning schools. With today’s visit, Governor Polis has visited all four Colorado Blue Ribbon schools. Governor Polis previously visited Mesa View Elementary School in Grand Junction, DSST: Cedar Ridge High School in Denver, and Zach Elementary School in Fort Collins. 

    “Providing every Colorado student with a high-quality education at every level of K-12 education is important for students’ futures, our workforce, and economy. I was honored to visit SkyView Middle School to celebrate its well-deserved national recognition as a blue ribbon school, and learn about how successful strategies at SkyView can help other schools across Colorado,” said Governor Polis. 

    Later this afternoon, Governor Polis will sign the bipartisan HB25-1184 – Community-Based Continuing Care for Seniors, sponsored by Representatives Amy Paschal and Anthony Hartsook and Senators Dylan Roberts and John Carson. 

    “In a Colorado For All, every Coloradan, no matter your age or ability, should have access to the care you need when you need it. Thanks to this law, Coloradans awaiting admission to supportive living facilities will not need to wait before receiving necessary care. By expanding access to the care seniors need, we are ensuring that Colorado is the best state for anyone to live out their golden years,” said Governor Polis. 

    Governor Polis will also sign the bipartisan HB25-1157 – Reauthorize Advanced Industries Tax Credit, sponsored by Representatives Brianna Titone and William Lindstedt, and Senators Marc Snyder and Mark Baisley. 

    “Colorado is a state of innovators, leading the way in the cutting-edge emerging technologies of the future. Advanced industries support hundreds of thousands of good-paying jobs, find solutions in every sector from transportation to health care and agriculture, and are leading the way. These tax credits will ensure that our advanced industries continue to drive our innovation and economy,” said Governor Polis. 

    Governor Polis will also sign the following bipartisan bills: 

    • HB25-1270 – Patients’ Right to Try Individualized Treatments, sponsored by Representatives Rose Pugliese and Lindsay Gilchrist and Senators Barbara Kirkmeyer and Lindsey Daugherty
    • SB25-116 – Spousal Maintenance Guidelines sponsored by Senators Marc Snyder and Lisa Frizell and Representatives Monica Duran and Ryan Armagost

    ###

    MIL OSI USA News –

  • MIL-OSI Security: Justice Department Establishes Civil Rights Fraud Initiative

    Source: United States Attorneys General 8

    WASHINGTON – Today, the Department of Justice announced the establishment of the Civil Rights Fraud Initiative, which will utilize the False Claims Act to investigate and, as appropriate, pursue claims against any recipient of federal funds that knowingly violates federal civil rights laws. Violations of the False Claims Act can result in treble damages and significant penalties.

    “Institutions that take federal money only to allow anti-Semitism and promote divisive DEI policies are putting their access to federal funds at risk,” said Attorney General Pamela Bondi. “This Department of Justice will not tolerate these violations of civil rights – inaction is not an option.”

    “America has watched a tidal wave of anti-Semitism sweep our universities and seen public institutions codify inherently divisive policies like DEI at an unprecedented rate,” said Deputy Attorney General Todd Blanche. “In advancing the initiative, the Department of Justice’s Civil Fraud Section and Civil Rights Division will work in concert – alongside other Department components and government agencies – to identify and root out instances in which recipients of federal funds fail to uphold their basic obligations under federal civil rights laws. The days of using federal funds to further discrimination are over.”

    The Department strongly encourages anyone with knowledge of discrimination by federal funding recipients to consider filing a qui tam action under the False Claims Act. See 31 U.S.C. § 3730. When a qui tam action is successful, the whistleblower typically receives a portion of the monetary recovery. The Department also encourages the public to report instances of such discrimination to the appropriate federal authorities. Please visit https://www.justice.gov/civil/report-fraud for more information.

    Read the full memo here. 

    MIL Security OSI –

  • MIL-OSI Video: “As Commander in Chief, I will always do and fulfill my duty to you.”

    Source: United States of America – The White House (video statements)

    President Trump stands shoulder to shoulder with America’s heroes — the courageous men and women of the United States Armed Forces.

    “As Commander in Chief, I will always do and fulfill my duty to you.”

    https://www.youtube.com/watch?v=9AZWMGUPOWs

    MIL OSI Video –

  • MIL-OSI United Kingdom: New figures show thousands more homes delivered across the country as Homes England exceeds targets

    Source: United Kingdom – Executive Government & Departments

    Press release

    New figures show thousands more homes delivered across the country as Homes England exceeds targets

    The government’s housing and regeneration agency beat three key targets for 2024/25 during a pivotal time for housebuilding in England

    Provisional figures show that Homes England surpassed its 2024/2025 annual targets, set centrally by government, for the number of new homes started, the number of new homes completed, and the number of potential homes unlocked.

    This work is key to supporting the government in delivering 1.5 million homes this parliament.

    Homes England colleagues, working in partnership with hundreds of local, regional and national organisations to catalyse housing, regeneration and place-making across the country, have:

    • enabled the completion of more than 36,000 homes, up 14% from 2023/24
    • facilitated the start of construction for an additional 38,000 homes, up 6% on 2023/24
    • unlocked land that is capable of delivering 79,000 further homes, significantly up from 2023/24.

    The figures represent a high-level snapshot of progress underpinned by strong performance from across the Agency.

    • Local leaders are being supported to achieve their housing and regeneration aspirations through targeted interventions including Agency land acquisition, like in Nottingham, boots-on-the-ground expertise in places like York and Bristol, and a rising number of strategic place partnerships, including with the North East Combined Authority, Liverpool City  Region and Cambridgeshire and Peterborough Combined Authority.

    • New, safe and affordable housing is being delivered, with the Agency on track to ensure every penny of the 2021-26 Affordable Homes Programme is spent, including recent government top-ups, with numerous projects supported including Union Village in Middlesbrough.

    • New investment to unlock housing and regeneration projects is being boosted by Agency support and collaboration with the private and public sector, including the affordable-housing, low carbon focused HABIKO housing innovation partnership with Pension Insurance Corporation (PIC) and Muse, and master developer joint venture with Oaktree Capital Management and Greycoat Real Estate.

    • Work to diversify the housing market and back SME homebuilders, including creating new, quality homes through the Home Building Fund by supporting organisations like Wyatt Homes to grow and deliver, and expanding lending initiatives like the Agency’s Greener Homes Alliance with Octopus Real Estate.

    Matthew Pennycook, Minister of State for Housing and Planning, said:

    Homes England is playing a crucial role in supporting the government’s Plan for Change to build 1.5 million new homes and deliver the biggest increase in social and affordable housebuilding in a generation.

    Last year I set out ambitious priorities for Homes England and I am pleased that the Agency has exceeded key housebuilding targets to ramp up the delivery of new homes and place-based regeneration. This is alongside backing SME housebuilders and bolstering the government’s wider devolution agenda to unlock much-needed housing and growth.

    Pat Ritchie, Chair of Homes England, said:

    As the newly appointed Chair of Homes England, I’m proud to see the hard work of the Agency reflected in our 2024/25 performance figures. The team’s passion for housebuilding and regeneration remains its greatest strength, and I’m pleased to see this so clearly demonstrated in these results.

    Looking forward, the transformation of the Agency into a more regionally-based model will mean we’re well-placed to support the government’s mission to build 1.5 million homes this parliament.

    Eamonn Boylan, Chief Executive of Homes England, said:

    Since joining Homes England in January I’ve been continuously impressed with my colleagues’ unwavering dedication to our central mission: to ensure everyone has a place they’re proud to call home.

    Our 2024/25 performance figures reflect the Agency’s determination and passion for housing and regeneration. We’ve exceeded our delivery targets by supporting our housebuilding partners to create much-needed new homes and we’ve worked more closely with mayors across the country to champion place-making and drive regional growth.

    The provisional performance figures are part of Homes England’s annual report, which will be published this summer.

    Notes to editors:

    1. Figures are rounded. Exact completion figures are 36,757 homes, versus a target of 36,484.
    2. Figures are rounded. Exact starts figures are 37,782 homes, versus a target of 33,095.
    3. Figures are rounded. Exact figures are 78,986 further homes versus a target of 59,956.
    4. ‘Unlocked’ refers to land that is capable of delivering homes.
    5. More information about Nottingham land acquisition.
    6. Strategic Place Partnerships (SPPs) are a commitment from Homes England and a Mayoral Strategic Authority to deliver against local housing and regeneration ambitions. Homes England has SPPs in place with Greater Manchester, Liverpool City Region, the North East, South Yorkshire, West Yorkshire, the West Midlands and Cambridgeshire & Peterborough, with more planned to best serve the housing and regeneration needs of millions of people across the country
    7. More information about the North East Combined Authority SPP
    8. More information about the Liverpool City Region SPP
    9. More information about the Cambridge and Peterborough Combined Authority SPP.
    10. More information about the HABIKO partnership.
    11. More information about the joint venture between the Agency, Oaktree Capital Management and Greycoat Real Estate.
    12. More information about Home Building Fund support to Wyatt Homes.
    13. More information about the Green Home Alliance.

    ENDS

    Updates to this page

    Published 20 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: UK and Ukraine hail scientists’ role in the fight for freedom

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK and Ukraine hail scientists’ role in the fight for freedom

    From healthcare to energy, collaboration with UK researchers is supporting Ukraine’s defence and reconstruction, and the UK’s Plan for Change.

    • From healthcare to energy, collaboration with UK researchers is supporting Ukraine’s defence and reconstruction, and the UK’s Plan for Change
    • Academic, business and political leaders gather in London later today to celebrate UK-Ukrainian joint science endeavours – and look ahead to more
    • Science, tech and innovation are a key pillar of UK-Ukraine 100 Year Partnership: the long-term pact to support long-term security and growth for both our countries

    The critical role that Ukraine’s scientists and researchers are playing in the battle for their country’s freedom, and its hopes for a brighter future, working hand-in-hand with UK colleagues, will be celebrated at an event at the British Academy in London later today (Tuesday 20 May).

    The UK is resolute in its support for Ukraine, as the country defends itself in the face of Russia’s illegal and barbaric invasion. Our backing is cemented by the landmark 100 Year Partnership, unveiled by the Prime Minister and President Zelenskyy in January, of which strong and deep science and technology ties form a key part.

    Joint work by the UK and Ukraine’s researchers is not only supporting Ukraine’s freedom and future, but also unlocking benefits to the UK economy, and more besides, all of which bolsters the Plan for Change. In one joint project, on health, the University of Warwick have worked with Kharkiv National University of Radio Electronics to train AI models to quickly and accurately triage shrapnel wounds. And work by Manchester, Aston and Aberystwyth Universities and Ukrainian experts to boost Ukraine’s electricity grid with green energy, is also being applied to help Britain adapt as we get more energy from renewables, and as energy-intensive industries like data centres grow.

    Meanwhile efforts like the UK-Ukraine Techbridge are helping bring innovative new technologies to bear on critical tasks like clearing landmines and unexploded bombs. The TechBridge is also focused on AI, health, cyber security, education, and agritech, and is building opportunities in both countries for trade, upskilling, and investment.

    Much of this important work will be showcased at London’s historic British Academy later, at an event hosted by the UK’s Science Minister and Ukraine’s Deputy Minister for Education and Science, who will be joined by a host of academic, business and research leaders. Lord Vallance will announce an additional £100,000 for the UK-Ukraine Techbridge at the event, as well as £400,000 for trilateral efforts to harness digital technologies to improve government across the UK, Ukraine and Estonia.

    UK Science Minister Lord Vallance said:

    Freedom is an essential ingredient for scientific progress. Without it we are denied the ability to act on the curiosity that sparks so many breakthroughs, or to get the answers that make us think that maybe we have been wrong about the way we have thought about something in the past.

    Science is also international, which means that Ukraine’s inventions and innovations are ones that the UK and the entire world ultimately benefits from, and vice versa. We only stand to gain from working with Ukraine to keep the flame of freedom alive, and it is only natural, that the joint endeavours of our researchers, are critical to those efforts.

    Ukraine’s Minister for Education and Science, Oksen Lisovyi, said

    For Ukraine, science is not only about development — it is also about resistance. Today, our researchers are working side by side with international partners not only to support the country in its most difficult times, but also to lay the foundations for recovery. This collaboration is a mutual investment in freedom, humanity, and the future. We are grateful to the United Kingdom for a partnership built on shared values and trust.

    The UK-Ukraine partnership on science, innovation and technology has already delivered important work, starting with the:

    Since it was launched in 2022, it has helped over 170 Ukrainian experts endangered by the war to relocate to just under 70 UK universities, and continue their work on a temporary basis – as well as funding their research with £22.5 million. The UK Government has also supported the UK-Ukraine Twinning Initiative, which has enabled Ukrainian researchers to keep making progress, despite wartime disruption, by pairing up UK and Ukrainian universities. This has provided remote access to UK facilities and equipment, and avenues for joint funding, including £5 million of Research England grant funding to support new research partnerships.

    We are also harnessing the AI, data science and digital expertise of the UK, Ukraine and Estonia with a view to enhancing digital government and public services through technology and innovation under an initiative on trilateral cooperation.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 3000

    Updates to this page

    Published 20 May 2025

    MIL OSI United Kingdom –

  • MIL-OSI New Zealand: Caught on camera: Gang member arrested in Paihia

    Source: New Zealand Police

    An eagle-eyed camera operator alerted Police to a person possessing a firearm in Paihia overnight.

    “At around 2am Police were notified by Kaitaia cameras that a male had been seen on CCTV pulling what appeared to be a firearm from his pants,” Mid North Area Response Manager Senior Sergeant Mark Barratt says.

    “He was observed holding it on camera for a few seconds before adjusting it and placing it back into his pants.”

    Units were dispatched to the location and located the man a short distance away after carrying out area enquiries.

    Senior Sergeant Barratt says the firearm he was allegedly possessing has not been located at this stage and enquiries are ongoing.

    Police have since located methamphetamine paraphernalia.

    “This was great work by the camera operator who as part of proactive prevention has observed this male, and we were able to locate and charge him,” Senior Sergeant Barratt says.

    “We will continue to act on this sort of information to keep our communities safe.”

    A 37-year-old male, who is a patched Black Power member, has been charged with unlawfully carrying a firearm and possessing utensils for methamphetamine. He will appear in the Kaikohe District Court today.

    ENDS.

    Amanda Wieneke/NZ Police

    MIL OSI New Zealand News –

  • MIL-OSI Australia: Residents invited to have a say on potential surplus City owned properties

    Source: New South Wales Ministerial News

    Greater Bendigo residents are invited to have their say on the potential sale of a number of City of Greater Bendigo owned properties.

    The City manages a portfolio of close to 1,500 property assets valued in excess of $577 million that provide for community, sports and arts infrastructure, public space to serve the community.

    The properties that have been identified as potentially surplus are located at:

    • Rear 158 Eaglehawk Road, Long Gully (carpark)
    • 519 Crusoe Road, Lockwood – Previous Lockwood Tennis Club
    • Crown Allotment 10, Huntly-Fosterville Road, Fosterville
    • Settlement Road, Elmore
    • CA 61C Houliston Road, Leichardt
    • Leichardt Hall and Tennis Courts, Cleary Road Leichardt
    • 3 Lona Close, Spring Gully
    • 6 The Strand, Kennington

    City of Greater Bendigo Mayor Cr Andrea Metcalf said following a detailed review of City owned property holdings, a number of properties have been identified that are not planned for future use, in line with any City strategies or plans.

    “The properties are potentially surplus to the City’s needs and if they are identified as surplus at a future Council meeting, the City may sell them by private treaty, public auction or other arrangement with the proceeds of any sale to be set aside and used for future building or land improvements or strategic land purchases,” Cr Metcalf said.

    “As the population grows and demographics of various areas change, there are different building and land needs.  In some areas where there is substantial population growth such as the outer urban areas of Bendigo there may be a requirement for new community or sporting facilities, or open space to meet needs. However, in other areas, due to a shift in demographics, buildings and open space may no longer be used or be fit for purpose, or in some instances are adequately provided elsewhere.

    “The City has a commitment to consult with the community in line with its Community Engagement Policy and the Local Government Act 2020 and residents are invited to make any comments on whether the properties should be identified as surplus by Friday June 20, 2025.

    “All comments and submissions we receive during the consultation period will be considered and a report will be prepared and presented to Council.

    “Council will not make any decision on the identification of the properties as surplus for sale until all community comments have been considered.”

    Comments and written submissions can be submitted by Friday June 20.

    MIL OSI News –

  • MIL-OSI USA: Murray, Kaptur Call for Energy Department to Reverse New, Expanded Caps on Indirect Research Costs

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    ICYMI: Murray, Kaptur call for reversal of arbitrary cap on DOE-funded research—a policy already blocked in federal court for university grants

    Washington, D.C. — Today, Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee and Ranking Member of the Subcommittee on Energy and Water Development, and Congresswoman Marcy Kaptur (D-OH-09), Ranking Member of the House Appropriations Subcommittee on Energy and Water Development, sent a letter to Department of Energy (DOE) Secretary Chris Wright expressing deep concern about the Department’s recently announced caps on indirect costs for DOE research for a variety of recipients. The new caps, which follow the Department’s previously announced arbitrary cap on indirect costs for research at universities, will jeopardize critical research and innovation—and Murray and Kaptur call for the immediate reversal of the policy.

    “We write in response to the Department of Energy’s (DOE) decision to impose sweeping new caps on indirect cost rates across a wide spectrum of its funding recipients—including state and local governments, non-profit organizations, and for-profit partners,” write Murray and Kaptur. “Capping indirect cost rates far below their current values compounds the detrimental policy you have already announced cutting funding for university-led research, and these proposed cuts put energy innovation and economic development in communities across the country at serious risk.”

    The lawmakers note the policy will disproportionately hurt smaller research institutions: “Ultimately, this policy threatens to prevent smaller, under-resourced organizations from getting the support they need to conduct cutting-edge research, which will stifle innovation in regions that need investment the most.”

    “If left to stand, the consequences of these cuts will be severe: multi-sector collaboration will be chilled, community-led innovation efforts across the US will be disrupted, and thousands of jobs supporting energy and infrastructure will be at risk. This abrupt policy change will undercut the very institutions—state and local governments, non-profits, and research organizations—that drive energy innovation, workforce development, and clean energy solutions in local communities,” Murray and Kaptur write.

    They conclude by calling for an immediate reversal of the policies and demanding answers on how the Department determined the caps, whether it consulted with stakeholders, and whether it considered the economic consequences.

    The full letter is available HERE and below:

    The Honorable Christopher Wright
    Secretary of Energy
    U.S. Department of Energy
    1000 Independence Avenue, SW
    Washington, DC 20585

    Dear Secretary Wright,

    We write in response to the Department of Energy’s (DOE) decision to impose sweeping new caps on indirect cost rates across a wide spectrum of its funding recipients—including state and local governments, non-profit organizations, and for-profit partners. While direct costs support salaries, supplies, and equipment, indirect costs provide essential support for general operations and infrastructure. Capping indirect cost rates far below their current values compounds the detrimental policy you have already announced cutting funding for university-led research, and these proposed cuts put energy innovation and economic development in communities across the country at serious risk. Like so many actions your Department has already taken, these new cuts will also raise energy costs for American families and businesses.

    By imposing an arbitrary, inflexible cap of 10 or 15% on indirect costs—regardless of organizational type, mission, or financial structure—the Department is undermining the ability of its grantees and partners to deliver on DOE’s core priorities. Ultimately, this policy threatens to prevent smaller, under-resourced organizations from getting the support they need to conduct cutting-edge research, which will stifle innovation in regions that need investment the most. These indirect cost caps disregard the essential infrastructure required to administer safe, scalable, and high-impact projects.

    Local governments and non-profits, already stretched thin, now face arbitrary limitations that will squash efforts to fortify electricity grids to be robust to storms and other disruptions, initiatives to ensure all community members can access affordable and reliable energy, and emerging technology deployment at the local level.

    If left to stand, the consequences of these cuts will be severe: multi-sector collaboration will be chilled, community-led innovation efforts across the US will be disrupted, and thousands of jobs supporting energy and infrastructure will be at risk. This abrupt policy change will undercut the very institutions—state and local governments, non-profits, and research organizations—that drive energy innovation, workforce development, and clean energy solutions in local communities. America’s energy future must be built on strong partnerships—not policies that penalize those on the front lines of progress.

    These abrupt changes have been announced without the transparency you have promised, without public engagement, and without any meaningful justification. Worse, they appear to ignore the diverse cost structures and compliance burdens that entities must absorb to responsibly manage federal funds. These are not “wasteful” administrative expenses—they are essential costs of conducting federally sponsored research that benefits the American people.

    We reiterate our call to immediately reverse these harmful caps, urge you to engage stakeholders and experts in crafting any future reforms, and request written responses to the following questions by no later than May 30:

    1. What will happen to existing (conditional and nonconditional) awards if they do not meet the new terms and conditions in this policy?
    2. What data and models did DOE use to conclude that a uniform 10 or 15% cap would be sufficient and sustainable across such varied institutional types (e.g., local governments, non-profits, for-profits)? Will DOE release this analysis publicly?
    3. How does DOE justify this cap given that many organizations and governments currently operate with indirect cost rates significantly higher than the new proposed cap?
    4. How does DOE reconcile these cost caps with existing negotiated indirect cost rates under OMB Circulars and 2 CFR 200, particularly where they exceed the new ceilings?
    5. What outreach or consultation—if any—did DOE undertake with non-profit, municipal, or private-sector stakeholders prior to issuing these policy changes?
    6. What specific exemptions, waivers, or appeal mechanisms will DOE make available for awards where capped indirect costs would result in program delays, layoffs, or funding shortfalls?
    7. Has DOE assessed the potential regional economic and workforce consequences of capping indirect costs on state, local, and non-profit implementation partners? If so, will DOE release that analysis publicly?

    We look forward to your responses and attention to this critical issue.

    Sincerely,  

    MIL OSI USA News –

  • MIL-OSI USA: VIDEO: Hickenlooper Honors Denver Civil Rights Leader Rev. Dr. James D. Peters, Jr. on Senate Floor

    US Senate News:

    Source: United States Senator John Hickenlooper – Colorado

    Hickenlooper: “Rev. Peters carried that same commitment when he came to Denver and to Colorado. That same commitment to justice… Along the way, he had a significant impact on many of Colorado’s leaders. I was one of them.” 

    WASHINGTON – Today, U.S. Senator John Hickenlooper spoke on the Senate floor in memory of longtime civil rights leader Reverend Dr. James D. Peters, Jr. 

    “He knew that they were – that we are – strongest when we’re united, marching hand in hand. Walking next to Rev. Peters, it was impossible not to feel buoyed up by the enduring hope he carried with him pretty much at all times,” said Hickenlooper on the Senate floor. 

    Reverend Peters was a founding member of the Southern Christian Leadership Conference and worked with Martin Luther King Jr. in the civil rights movement of the 1950s and 1960s. He served as pastor of New Hope Baptist Church in the Denver metropolitan area for 28 years and previously chaired the Colorado Civil Rights Commission. He passed away on Saturday, May 10th. 

    Hickenlooper continued: “As Rev. Peters’ friend and mentor Dr. King famously said that ‘the arc of the moral universe is long, but it bends toward justice.’ Like many around the country today, I’ve felt that, in recent years, that arc has not bent as far as we had hoped. But, if Rev. Peters’ taught us one thing, it is that neither today or tomorrow is the day to bow our heads.”

    Hickenlooper with Rev. Peters outside of the National Memorial for Peace and Justice in Montgomery.

    To download a full video of Hickenlooper’s remarks, click HERE. A full transcript of his remarks is available below:

    “I come to the floor today to honor the incredible life of Rev. Dr. James D. Peters, seated here. 

    “Rev. Dr. James D. Peters, I should say, who passed away last week at the age of 92. And what a life he lived.

    “James was truly one of the greatest men I’ve ever known. 

    “Rev. Peters’ story started not far from these walls here in Washington, D.C. 

    “He grew up in Washington during a time of deep segregation and became an early leader in the civil rights movements of the 1950s and 1960s and into the 1970s.

    “In 1957, he helped found the Southern Christian Leadership Conference along with Dr. Martin Luther King, Jr.

    “He worked with Dr. King for many years to help shape the course of American history. 

    “He marched unbowed in the March on Washington in 1963 and numerous other marches. Notably, Selma across the Edmund Pettus bridge in 1965. 

    “Rev. Peters carried that same commitment when he came to Denver and to Colorado. That same commitment to justice. 

    “For more than 28 years, he preached Dr. King’s gospel of freedom and unity as pastor of New Hope Baptist Church, the largest Black church in Denver. 

    “He also served many years on the Colorado Civil Rights Commission to make Colorado a better place for all our residents. 

    “Along the way, he had a significant impact on many of Colorado’s leaders. I was one of them. 

    “In 2003, I was the newly elected Mayor of Denver. Not quite inaugurated yet when on July 5th, Paul Childs was shot and killed in his own front hall by an inexperienced Denver police officer. 

    “Paul was only fifteen years old. But he was beloved by his community and his death shook the entire city.

    “Following that awful tragedy, Rev. Peters, alongside my predecessor, Wellington Webb, who’s one of the great mayors of the 20th century, they helped organize their community and mentored me on the appropriate ways to address this tragedy in such a way that it could be constructive. That somehow the community could be made more stronger and more resilient.  

    “Reverend Peters knew that the community had to change and use this tragedy to make a better future for the entire community. 

    “He was one of those leaders who helped us create Denver’s first Citizen Oversight Board to oversee the Denver Police and Sheriff Departments, and make sure any allegation of police misconduct could be investigated. And to make sure all neighborhoods would have an active voice in how their neighborhoods were policed. 

    “He also helped us start the Office of the Independent Monitor, with subpoena power again to make sure that allegations of police misconduct could be fully investigated.

    “Over the past twenty years, the Citizen Board and the Independent Monitor has worked to improve the policies of Denver’s police departments and improve the relationship and the trust between the community and law enforcement. 

    “Many, many years later, about eight years ago, I was fortunate enough to join Rev. Peters, along with Rev. Dr. Patrick Demmer and a small group, in Montgomery to visit the National Memorial for Peace and Justice – our country’s first national memorial to victims of lynching and racial terrorism in the United States. 

    “And it’s hard to describe the feeling of that memorial. The power is so immense. The weight of our country’s nagging, persistent shame remains so heavy. 

    “Walking through the memorial with Rev. Peters, he spoke about his life growing up in Washington D.C. during segregation and his fierce belief in nonviolence and nonviolent movements. 

    “He reflected on how their nonviolent tactics led more and more people to join them. He knew that they were – that we are – strongest when we’re united, marching hand in hand. 

    “Walking next to Rev. Peters, it was impossible not to feel buoyed up by the enduring hope he carried with him pretty much at all times. 

    “I think so many of those lessons from Rev. Dr. Peters still ring true today. 

    “As Rev. Peters’ friend and mentor Dr. King famously said that “the arc of the moral universe is long, but it bends toward justice.” 

    “Like many around the country today, I’ve felt that, in recent years, that arc has not bent as far as we had hoped. 

    “But, if Rev. Peters’ taught us one thing, it is that neither today or tomorrow is the day to bow our heads. 

    “We can’t give up our work and our dreams that Dr. Peters fought for.”

    MIL OSI USA News –

  • MIL-OSI Security: DHS Hits Back at Tim Walz’s Dangerous Rhetoric Comparing ICE to Gestapo

    Source: US Department of Homeland Security

    While politicians like Gov. Walz fight to protect criminal illegal aliens, ICE officers will continue risking their lives to arrest murderers, kidnappers, and pedophiles  

    WASHINGTON – Following Governor Tim Walz’s sickening rhetoric calling Immigration and Customs Enforcement (ICE) agents “Trump’s modern-day Gestapo,” the Department of Homeland Security (DHS) is setting the facts straight on the bravery of our ICE enforcement agents. Every day they risk their lives to arrest vicious criminal illegal aliens let into our country by the previous administration.  

    “Governor Walz’s comments comparing ICE agents to the Gestapo is sickening. This type of rhetoric and demonization of ICE officers has led to our officers facing a 413% increase in assaults,” said Assistant Secretary Tricia McLaughlin. “While politicians like Walz fight to protect criminal illegal aliens, our ICE officers will continue putting their lives and safety on the line to arrest murderers, kidnappers, and pedophiles that were let into our country by the previous administration’s open border policies.” 

    Below are just a few examples of violent criminal aliens ICE has arrested in Tim Walz’s Minnesota: 

    On May 1, 2025, ICE arrested Abdirashid Elmi, a 50-year-old illegal alien from Somalia. His criminal history includes convictions for murder, driving while intoxicated, and disorderly conduct. 

    On April 24th, ICE announced the arrest of Erick Martinez Mondragon, a 25-year-old illegal alien from Mexico and a member of the 18th Street gang. He served time for robbery and possession of a firearm. 

    On April 25, ICE announced the arrest of Marco Quizhpi Granda, an illegal criminal alien from Ecuador. He was previously convicted for criminal sexual conduct with a child. 

    On January 26, 2025, ICE arrested Octavio Juarez-Bonilla, an illegal alien from Mexico. He previously possessed child pornography on a work computer. 

    On February 19, 2025, ICE arrested Thailand Oh, a 25-year-old illegal alien from Laos. Oh’s criminal history includes convictions for domestic assault and weapons charges. Oh has had a final order of removal since April 5, 2024. 

    On May 9, 2025, ICE arrested Jorge Padilla Mendez, an illegal alien from Ecuador. He was previously arrested for robbery. Padilla was ordered removed by an immigration judge on August 28, 2024. 

     
    On May 9th, ICE announced the arrest of Abymahel Torres-Arriaga, a 36-year-old illegal alien from Mexico. He has a conviction for selling heroin/meth/fentanyl from the Goodhue County District Court in Red Wing, MN.  

    On May 8th ICE announced the arrest of Edgar David Felipe-Mendez, an illegal alien from Guatemala. He has a previous conviction of conspiracy to sell heroin/meth/fentanyl from the Goodhue County District Court in Red Wing, MN,  

    On April 30, 2025, ICE arrested Blong Yang, His past criminal convictions include carrying a concealed weapon and fourth degree sexual assault. Yang has had a final order of removal since April 19, 2023.  

    MIL Security OSI –

  • MIL-OSI USA: Ricketts Introduces the SNAP Next Step Act

    US Senate News:

    Source: United States Senator Pete Ricketts (Nebraska)

    WASHINGTON, D.C. – Last week, U.S. Senator Pete Ricketts (R-NE) introduced the SNAP Next Step Act. Senator Kirsten Gillibrand (D-NY) joined the bill as the leading Democrat co-sponsor. The bill would authorize the use of Supplemental Nutrition Assistance Program (SNAP) funds for employment and training activities under the Workplace Innovation and Opportunity Act. The bill was modeled after asuccessful State of Nebraska program initiated when Ricketts was Governor.

    “SNAP Next Step worked in Nebraska and will help workers across America on the path to a stable financial situation,” said Senator Ricketts. “When I was governor, this program helped workers find better employment. It helped increase monthly income. And it reduced or eliminated their need for government assistance. I am eager to work with my colleagues to make this proven Nebraska solution a reality for workers across America.”

    The text of the bill is available here.

    BACKGROUND:

    The SNAP Next Step Act assists SNAP beneficiaries in pursuing better job and career opportunities through services like job search coaching, interview preparation, and resume writing. This legislation adds no new costs to taxpayers. It would allow already available SNAP administrative funds to be utilized in enrolling SNAP recipients in Department of Labor Workforce Innovation and Opportunity Act Programs. The bill also urges states to develop benefits calculators that show participants the real-world impacts of increased wages on eligibility for all government assistance programs.

    In 2016, then-Governor Ricketts’ administration implemented SNAP Next Step. Since then, SNAP Next Step has helped hundreds of Nebraska families find new employment and more predictable hours, allowing them to spend more time together as a family. They’ve also increased their monthly income by more than $2,100. About 60% of these families no longer rely on state food assistance and the other 40% have reduced their need for SNAP benefits.

    MIL OSI USA News –

  • MIL-OSI USA: CLARKE ISSUES STATEMENT ON SUPREME COURT RULING STRIPPING 350,000 VENEZUELANS OF TEMPORARY PROTECTED STATUS

    Source: United States House of Representatives – Congresswoman Yvette D Clarke (9th District of New York)

    FOR IMMEDIATE RELEASE:

    May 19, 2025

    MEDIA CONTACT: 

    e: jessica.myers@mail.house.gov

    c: 202.913.0126

    WASHINGTON, DC – Congresswoman Yvette D. Clarke (NY-09) released the following statement:

    “With a single shameful Supreme Court ruling, more than 350,000 Venezuelans who were promised and granted refuge from the brutal dictatorship they fled will find themselves in the grips of that regime again. Make no mistake: this is a humanitarian betrayal of unprecedented proportions. 

    “Weaponizing the suffering of the most vulnerable people on the planet just to appear tough on immigration to his base is a new level of despicable behavior from this president. To add insult to injury, while Trump shuffles Black and Brown people back to their countries, kidnaps legal residents, and condemns others to the most notorious prisons in the world, he chooses to offer asylum to South African Apartheid sympathizers. 

    “Trump’s cruel and xenophobic agenda has been built on misinformation, scapegoating, and labeling all those looking for a better life as criminals. Today, the judicial branch has given him a pass to continue politicizing the struggles of migrants and furthering his unconstitutional immigration policies, and that is truly disgraceful.”

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    MIL OSI USA News –

  • MIL-OSI USA: Van Orden Bill to Improve VA Home Loan Program Passes House

    Source: United States House of Representatives – Congressman Derrick Van Orden (Wisconsin 3rd)

    WASHINGTON, D.C. – Today, Congressman Derrick Van Orden’s bill, H.R. 1815 – the VA Home Loan Program Reform Act, passed the House. This bill establishes a permanent partial claims program within the VA Home Loan Program, bringing VA in line with other federal agencies in offering a fair and fiscally responsible path forward for veterans who have fallen behind on their mortgage payments.

    Prior to its passage, Rep. Van Orden spoke on the House floor in support of H.R. 1815. Click here or below to watch.

    (watch)

    Rep. Van Orden’s remarks, as prepared for delivery:

    Thank you, Mr. Speaker.

    I rise today in strong support of my bill, H.R. 1815 –  the VA Home Loan Program Reform Act.

    This legislation establishes a permanent partial claims program within the VA Home Loan Program —bringing VA in line with other federal agencies that lend money for homes.

    As Chairman of the House Economic Opportunity Subcommittee, I am responsible for the two most successful programs in the history of the United States government – the home loan program and the GI VA home loan guarantee.

    It is my responsibility to make sure every active duty servicemember, every veteran, and every American who chooses to join the military in the future has the opportunity to use this program to fulfill the American Dream of homeownership.

    However, when a series of unelected bureaucrats invented a program that had not existed since someone first lent seashells to buy a cave, they greatly endangered that.

    I am grateful to the Trump administration for standing up to stop this.

    There was a $25,000 problem in the Veterans Affairs Administration, they threw a $320,000 fixer at it, and that had the potential to collapse this program over time.

    I will not allow that on my watch.

    I want to thank Chairman Bost, Secretary Collins, and President Trump for helping ensure that every American that has served, is serving, and will serve has the ability to own a home.

    Thank you, and I yield back.

    MIL OSI USA News –

  • MIL-OSI USA: House Passes Rep. Young Kim Bill to Support Military Sexual Trauma Victims

    Source: United States House of Representatives – Representative Young Kim (CA-39)

    Washington, DC – Today, the House of Representatives passed the Improving VA Training for Military Sexual Trauma (MST) Claims Act (H.R. 2201), a bipartisan bill led by U.S. Reps. Young Kim (CA-40), Nikki Budzinski (IL-13), Don Bacon (NE-02), and Chrissy Houlahan (PA-06). 

    According to VA officials, the department received 57,400 MST claims in fiscal year 2024, up 18% from the previous year, and approved more than 63% of them, up from roughly 40% more than a decade ago.  

    The Improving VA Training for Military Sexual Trauma Claims Act:  

    • Requires the VA Secretary to create a plan to improve training for Contracted Disability Compensation Examiners (CDCEs) who assist veterans dealing with MST;  
    • Ensures annual training for all employees of the Veterans Benefits Administration;  
    • Improves quality assurance of CDCEs so MST veterans are not retraumatized during the medical disability examination process; and,  
    • Requires the VA to automatically obtain all service and personnel medical records for PTSD-based claims filed for in-service personal assault.  

    “MST survivors have already faced unthinkable treatment and pain. The VA examination process shouldn’t cause more stress,” said Rep. Young Kim. “This bipartisan bill provides much-needed updates to VA training and ensures survivors receive the certainty, compassion, and care they deserve. I thank my colleagues for coming together in a bipartisan manner to pass this commonsense bill out of the House, and I’ll keep fighting to get this over the finish line.” 

    Rep. Kim spoke in support of the bill on the House floor. Watch HERE. 

    MIL OSI USA News –

  • MIL-OSI USA: Peters & Slotkin Urge Secretaries Noem and Rubio to Protect Students’ Constitutional Rights

    US Senate News:

    Source: United States Senator for Michigan Gary Peters

    Senators’ Letter Comes After Students Across Michigan Have Their Legal Visas Terminated

    WASHINGTON, DC – U.S. Senators Gary Peters (MI) and Elissa Slotkin (MI) are calling for more information about recent visa terminations and apprehensions that have caused confusion at Michigan universities and threatened students’ ability to go to school and remain in the United States. In a letter to Homeland Security Secretary Kristi Noem and Secretary of State Marco Rubio, Peters and Slotkin requested details about the Trump Administration’s recent actions targeting students and urged their agencies to instead focus their efforts on public safety threats.

    “We have heard concerns from constituents in Michigan about the impact of the Administration’s actions on students and our universities.” Peters and Slotkin wrote: “we call on you to immediately prioritize law enforcement actions that keep us safe, not those that threaten First Amendment protected activities, and to take steps to ensure student visas are not threatened or terminated due to students exercising their constitutional rights.” 

    “In addition to the chaos and confusion, the surveillance and arrests of students exercising their freedom of speech are creating fear amongst students at Michigan universities. Reports indicate that international students admitted this spring to colleges and universities are rethinking their choices due to the visa revocations and deportations,” the senators wrote. “We have serious concerns that the Administration’s policies towards international students will deprive the United States of global talent that fuels innovation.”

    The full text of the letter can be found here.

    MIL OSI USA News –

  • MIL-OSI USA: Peters, Slotkin & Bergman Urge Swift Approval of Major Disaster Declaration for Northern Michigan

    US Senate News:

    Source: United States Senator for Michigan Gary Peters

    WASHINGTON, D.C. – U.S. Senators Gary Peters (MI), and Elissa Slotkin (MI), as well as U.S. Representative Jack Bergman (MI-01), are calling on President Trump to declare a Major Disaster for northern Michigan following the severe winter storms in late March. In their letter, the lawmakers supported Governor Gretchen Whitmer’s request for assistance for Alcona, Alpena, Antrim, Charlevoix, Cheboygan, Crawford, Emmet, Montmorency, Oscoda, Otsego, and Presque Isle, Kalkaska and Mackinac Counties, as well as the Little Traverse Bay Band of Odawa Indians. The National Weather Service has ranked this as one of the most significant ice storms ever recorded in northern Michigan. 

    “Starting on March 28, northern Michigan experienced extreme winter weather, including a prolonged period of freezing rain which resulted in severe ice accumulation,” the lawmakers wrote. “This caused widespread destruction to homes, businesses, and infrastructure, causing long-term power outages for hundreds of thousands of residents.” 

    The lawmakers continued: “The affected counties also have poverty and unemployment rates that exceed the national average, and seven of the counties have a higher unemployment rate than Michigan’s state average. The disaster area also includes a significant population of individuals who are older than 65 years of age, have disabilities, or receive retirement income. As you know, these factors indicate that these communities are particularly vulnerable after disasters and increases the need for federal assistance to ensure equitable recovery.” 

    State and federal officials estimate the storm caused $137 million in immediate response costs and inflicted severe damage to homes and infrastructure. Given the scale of the damage from this storm, and as the state continues to recover from three other state-declared disasters in the past two years, federal assistance is needed to help these Michigan communities fully recover. 

    “We commend the great work the federal government has done in helping Michigan recover from previous disasters,” continued the lawmakers. “However, in the absence of a federal disaster declaration, Michigan will not have the capacity to ensure these communities receive the aid they need to fully recover. We urge your speedy approval of this request.”  

    Text of the letter is available here. 

    MIL OSI USA News –

  • MIL-OSI USA: PRESS RELEASE: Rep. Barragán Congratulates Pope Leo XIV, the First American Pope

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE
    May 8, 2025

    Contact: Jin.Choi@mail.house.gov

    Rep. Barragán Congratulates Pope Leo XIV, the First American Pope

    WASHINGTON, D.C. – Today, U.S. Representative Nanette Barragán (CA-44) issued the following statement congratulating Pope Leo XIV on his historic appointment as the first American Pope:

    “Congratulations to Pope Leo XIV — the first American Pope. His appointment marks a new chapter for the Catholic Church and for millions who look to the Church for moral leadership in an increasingly complex world. I hope that Pope Leo XIV will continue the powerful legacy of Pope Francis — a leader who reshaped the global Church through compassion, humility, and a deep commitment to inclusion.

    “Pope Francis challenged the Church to defend the dignity of the poor and marginalized, to welcome the immigrant and the refugee, to care for our planet as a common home, and to embrace those who have too often felt excluded — including LGBTQ+ individuals. He advanced a Church more rooted in mercy than judgment, more engaged with the real-world struggles of its people, and more committed to peace and dialogue across all faiths.

    “As Pope Leo XIV begins his pontificate, I pray he continues that spirit — one of justice, humility, and love in service to all.”

    # # #

    MIL OSI USA News –

  • MIL-OSI USA: PRESS RELEASE: Rep. Barragán Joins Discharge Petition to Prevent Republican Cuts to Medicaid and Food Assistance

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE
    May 8, 2025

    Contact: Jin.Choi@mail.house.gov

    WASHINGTON, DC – On Tuesday, Congresswoman Nanette Barragán (CA-44) signed a discharge petition to force consideration of a special rule to prevent the largest cuts to Medicaid and food assistance in American history — just so Donald Trump and Republicans can pay for massive tax giveaways to their billionaire donors. The petition is led by Congressman Brendan F. Boyle (PA-02), Ranking Member of the House Budget Committee. The petition is now open for signature by any Member of the House who is committed to protecting access to Medicaid and SNAP for millions of Americans.

    Under House rules, once a discharge petition receives 218 signatures, it triggers a vote on the House Floor. Ranking Member Boyle’s petition would trigger a special rule that includes the text of his Hands Off Medicaid and SNAP Act—amending the Congressional Budget Act to protect Medicaid and SNAP from any reduction in coverage or benefits in the reconciliation process.  

    “This is the chance for House Republicans to do the right thing and prove that they do indeed work for the American people,” said Rep. Barragán. “Donald Trump and House Republicans’ budget would cut healthcare and food assistance for the hardworking families who struggle more than ever to put food on the table and secure the care that they deserve. House Democrats will fight and take every possible path of action to prevent this budget from passing, because we believe that working- and middle-class families having access to essential benefits is far more important than funding tax breaks for Republicans’ billionaire donors.” 

    “Instead of working to lower the high cost of living, Donald Trump and Rubber Stamp House Republicans are advancing their deeply unpopular budget scheme to give tax breaks to their billionaire donors like Elon Musk while sticking everyday Americans with the bill,” said Democratic Leader Hakeem Jeffries. “They are planning to enact the largest cut to Medicaid and food assistance in American history, but House Democrats will continue pushing back with the fierce urgency of now. If House Republicans are telling the truth that they do not support taking food out of the mouths of children and slashing healthcare, our bill does just that.”

    “The Republican budget includes the largest cuts to Medicaid and SNAP in our nation’s history—cuts that would jeopardize health care and food assistance for millions of Americans,” said Budget Committee Ranking Member Boyle. “This discharge petition is an opportunity for every Member of Congress to show where they stand. We intend to gather 218 signatures from both parties, and I sincerely hope my colleagues across the aisle will join us. If they truly believe in protecting these essential benefits, this is their chance to prove it.”

    “Republicans have repeatedly claimed they’re not going to take away people’s health care by cutting Medicaid,” said Energy and Commerce Committee Ranking Member Pallone, Jr. “If they’re telling the truth, Republicans should join Democrats in signing this discharge petition to bring our bill to the House floor to ensure Medicaid will not be cut to pass tax breaks that help the rich get richer.”

    “Slashing $230 billion from SNAP will take food assistance away from children, seniors and veterans,” said Agriculture Committee Ranking Member Craig. “Supporting the Hands Off Medicaid and SNAP discharge petition is a way to protect their access to food and health care at a time when all Americans are struggling with rising costs.”

    “House Democrats oppose taking food and health care from working people to pay for tax cuts for billionaires,” said Congressional Progressive Caucus Chair Casar. “Now the question is: will any House Republican join us, or will they all support taking health care and food from millions of Americans?”

    “Signing this discharge petition should be as easy as saying you support Medicaid and SNAP, but so far not one Republican is willing to put health care and food assistance for millions of people above tax cuts for billionaires,” said New Democrat Coalition Chair Schneider. “If our colleagues across the aisle truly support hardworking families over President Trump’s billionaire buddies, they’ll join us in signing this petition.” 

    “In my district alone, nearly 80,000 residents rely on SNAP and food assistance programs to keep their families fed. Under this budget plan, they would be left behind. And the 34,000 CA-46 residents who receive Affordable Care Act coverage would see their premiums go up by over $2,000 every year. That is unacceptable, unconscionable, and un-American,” said Blue Dog Coalition Co-Chair for Policy and Legislative Strategy Lou Correa. “We’re introducing this discharge petition to block these harmful cuts and ensure that tens of millions of our constituents continue to receive the health care and food assistance they need and deserve. And we hope our colleagues across the aisle will join us in signing it.”

    The Hands Off Medicaid and SNAP Act is led in the House by Representatives Brendan F. Boyle (PA-02), Ranking Member of the House Budget Committee; Frank Pallone, Jr. (NJ-06), Ranking Member of the Energy and Commerce Committee; Angie Craig (MN-02), Ranking Member of the Agriculture Committee; Greg Casar (TX-35), Chair of the Congressional Progressive Caucus; Brad Schneider (IL-10), Chair of the New Democrat Coalition; and Lou Correa (CA-46), Blue Dog Coalition Co-Chair for Policy and Legislative Strategy.

    More information about the Hands Off Medicaid and SNAP Act is available here.

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    MIL OSI USA News –

  • MIL-OSI USA: PRESS RELEASE: DEMOCRATIC STEERING AND POLICY COMMITTEE CO-CHAIRS REP. BARRAGÁN, WASSERMAN SCHULTZ, AND KELLY HOLD HEARING ON IMPACT OF TRUMP TARIFFS ON SMALL BUSINESSES

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE: 

    May 8, 2025 

    Contact: Jin.Choi@mail.house.gov

    DEMOCRATIC STEERING AND POLICY COMMITTEE CO-CHAIRS REP. BARRAGÁN, WASSERMAN SCHULTZ, AND KELLY HOLD HEARING ON IMPACT OF TRUMP TARIFFS ON SMALL BUSINESSES

    Washington, DC – Today, the House Democratic Steering & Policy Co-Chairs, Congresswomen Nanette Barragán (CA-44), Debbie Wasserman Schultz (FL-25), and Robin Kelly (IL-02) led a hearing on the impacts of the Trump Administration’s policies and tariffs on U.S. small businesses. The committee heard from small business owners on how Republican schemes raise their costs and make it difficult to budget, plan, or make ends meet due to rampant federal instability, cutbacks, and tariff threats.

    House Democratic Leader Hakeem Jeffries, Democratic Whip Katherine Clark, and Democratic Caucus Chair Pete Aguilar attended the hearing and said Democrats would marshal legislative, legal and community opposition to Republican policies that stifle Main Street merchants and strangle smaller entrepreneurs.

    “Small businesses are essential to our economy — they power our communities, create jobs, and make the American Dream possible. But Donald Trump’s reckless tariffs are punishing the very people who keep our economy running. They’re forcing small business owners across the country to make impossible choices — raise prices or shut their doors,” said Rep. Barragán. “When prices go up, working families pay the price. These destructive Republican economic policies do nothing to strengthen our economy, they only lead to job losses and businesses closing their doors.” 

    “Donald Trump and Republicans, who continue in this Congress to rubber stamp his extreme agenda, are crashing the economy in real time, driving us toward a recession. Why? So that they can provide tax breaks for their billionaire donors like Elon Musk, instead of supporting small businesses,” said Leader Jeffries. “They are knowingly inflicting economic pain on hard-working entrepreneurs and small business owners. It’s unconscionable, unacceptable, and un-American. House Democrats will not quietly stand by while working families, entrepreneurs, middle-class folks, small business owners and everyday Americans are being forced to suffer at the hands of the extreme policies that are being unleashed on the American people. We will continue to push back publicly and aggressively.”

    “Small business owners and entrepreneurs keep America’s economy thriving and make life better for their customers and workers,” said Wasserman Schultz. “But Trump’s extreme economic policies have created a chaotic, confusing landscape for small businesses, with huge price hikes and a horizon filled with uncertainty, higher costs and recessionary fears.”

    “Small businesses create good jobs and drive innovation — they are they backbone of local economies,” said Kelly. “We heard directly from small business owners who are telling President Trump that his short-sighted tariffs have raised costs and created uncertainty.  Simply put, Americans — small business owners, workers, and consumers alike — will pay the cost of President Trump’s trade war at the check-out counter.”

    This year, the Steering & Policy Committee has held hearings on Medicaid, SNAP, Social Security and Veterans. Each one shared personal stories of how everyday Americans are being harmed by this administration. To continue to collect and share more of their stories, the Steering & Policy Committee will execute a series of events across the nation in the months ahead to reach the American people where they live and hear from them directly.  

    The full video of today’s hearing can be found here. 

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    MIL OSI USA News –

  • MIL-OSI USA: PRESS RELEASE: Congressional Croatian Caucus Co-Chairs Barragán and Joyce Host Prime Minister Plenković and Ambassador Šimunović to Strengthen U.S.-Croatia Relations

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE
    May 9, 2025

    Contact: Jin.Choi@mail.house.gov

    Congressional Croatian Caucus Co-Chairs Barragán and Joyce Host Prime Minister Plenković and Ambassador Šimunović to Strengthen U.S.-Croatia Relations

    Washington D.C. — On Wednesday, Co-Chairs of the Congressional Croatian Caucus, Representatives Nanette Barragán (D-CA) and Dave Joyce (R-OH), hosted Prime Minister Andrej Plenković of Croatia and Croatia’s Ambassador to the U.S. Pjer Šimunović, to discuss how to best strengthen the diplomatic, economic, and cultural ties between the U.S. and Croatia. This was then followed by a reception to celebrate the re-launch of the Congressional Croatian Caucus for the 119th Congress. Vice-Chairs Ted Lieu (D-CA) and Claudia Tenney (R-NY) were also in attendance. 

    “In California’s 44th District, we’re proud to call ourselves home to one of the largest and most vibrant Croatian communities in the country. I welcome every opportunity to strengthen the ties between our two nations — through trade, security, and shared values.  By working together, we can increase collaboration across areas of shared interest and build a stronger future for both our countries,”said Rep. Barragán. 

    In the 118th Congress, the Caucus led a letter to the Senate urging ratification of the U.S.-Croatia Treaty for the Avoidance of Double Taxation, to further deepen the economic partnership between the U.S. and Croatia. The Caucus will continue to advocate for ratification in the 119th Congress. 

    Photos from the event can be found here.

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    MIL OSI USA News –

  • MIL-OSI USA: PRESS RELEASE: Congresswoman Barragán Leads Congressional Letter Opposing Trump Administration’s Semiconductor Tariff Proposal

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE
    May 8, 2025

    Contact: Jin.Choi@mail.house.gov

    Congresswoman Barragán Leads Congressional Letter Opposing Trump Administration’s Semiconductor Tariff Proposal

    Washington, D.C. – Yesterday, Congresswoman Nanette Barragán (CA-44) led a group of her Democratic colleagues on the House Communications and Technology Subcommittee in calling on President Donald Trump and Commerce Secretary Howard Lutnick to abandon proposals to impose sweeping tariffs on the semiconductor industry.

    The letter, signed by House Communications and Technology Subcommittee Ranking Member Doris Matsui and subcommittee members Greg Landsman and Jennifer McClellan, warns that the proposed tariffs would increase costs for consumers, disrupt American manufacturing, undermine U.S. competition, and strain relationships with key international allies—all without achieving the stated goal of boosting domestic production.

    “These tariffs will increase the cost of essential technologies like smartphones, laptops, and broadband equipment, and will act as a direct tax on American consumers,” wrote the group of Democratic lawmakers. “The result: reduced productivity, limited access to essential tools, and slower economic growth.” 

    “Rather than resorting to punitive trade measures that risk backfiring economically and geopolitically, the United States should double down on policies that support domestic semiconductor production and strengthen our long-term competitiveness,” they continued. “We urge you to abandon these ill-conceived tariff plans and instead work with Congress, industry leaders, and international allies to bolster American innovation, secure our supply chains, and build a technology economy that serves American workers and consumers.”

    The full text of the letter can be found here and below.

    President Trump and Secretary Lutnick:

    We have serious concerns with your reported plans to impose sector-specific tariffs on semiconductor products, including chips, telecommunications equipment, and consumer electronics. These tariffs would raise prices for consumers, disrupt American manufacturing, and damage our nation’s global competitiveness—all while failing to meaningfully strengthen national security or domestic production.

    These tariffs will increase the cost of essential technologies like smartphones, laptops, and broadband equipment, and will act as a direct tax on American consumers. The result: reduced productivity, limited access to essential tools, and slower economic growth.

    The United States currently lacks the capacity to rapidly relocate large-scale technology manufacturing to our country. Structural challenges—including a shortage of workers trained in high-tech manufacturing and underdeveloped semiconductor infrastructure—make such a transition unrealistic in the short term. Tariffs will not solve these issues and could instead deepen them by inflating costs, discouraging investment, and weakening the long-term position of the United States technology industry.

    The ongoing uncertainty surrounding this tariff plan has already disrupted financial markets and injected instability into critical sectors of our economy. The technology industry depends on predictable, long-term policy—not abrupt changes that create confusion for investors, suppliers, and businesses.

    These tariffs could also provoke diplomatic fallout with some of our most trusted allies. Taiwan, South Korea, Japan, and Malaysia are potential targets for these tariffs. These are all vital partners in our technology supply chains and unnecessary tariffs could jeopardize the resilience of our supply chains and the strategic alliances that have long supported American leadership in innovation.

    Additionally, a disruption to American technology imports from allied nations could undermine the Federal Communication Commission’s efforts to implement the Secure and Trusted Networks Reimbursement (“Rip and Replace”) Program. Rip and Replace, which has received strong bipartisan, bicameral support in Congress, strengthens our national security by supporting providers who are working to replace insecure network equipment from Chinese vendors like Huawei and ZTE, while simultaneously maintaining network connectivity for consumers across the country. By disrupting global supply chains and raising the overall cost of replacing network infrastructure, the proposed tariffs could needlessly strain the Rip and Replace program’s budget and delay program implementation.

    The consequences of supply chain disruptions would also be particularly acute in the race to deploy 5G infrastructure and to lead in artificial intelligence. Access to cutting-edge components is essential to maintaining leadership in 5G, as well as in AI development. Disrupting access to these components would not only slow American progress but would also give China an unnecessary—and avoidable—strategic advantage.

    We are especially alarmed by reports that these tariffs will be enacted under Section 232 of the Trade Expansion Act of 1962, a provision designed to protect national security. This seems incompatible with the imposition of tariffs that damage alliances and delay technological innovation – that would in fact compromise our national security. As the Department of Defense made clear in its 2022 report Securing Defense-Critical Supply Chains, disruptions to allied supply lines—particularly in microelectronics—pose a direct threat to military readiness.

    Rather than resorting to punitive trade measures that risk backfiring economically and geopolitically, the United States should double down on policies that support domestic semiconductor production and strengthen our long-term competitiveness. Congress passed the CHIPS and Science Act precisely for this purpose—to revitalize American semiconductor manufacturing, create high-quality union jobs, and reduce our dependence on foreign supply chains, especially those vulnerable to authoritarian influence or geopolitical instability.

    We urge you to abandon these ill-conceived tariff plans and instead work with Congress, industry leaders, and international allies to bolster American innovation, secure our supply chains, and build a technology economy that serves American workers and consumers.

    ###

    MIL OSI USA News –

  • MIL-OSI Australia: UPDATE #2: Charges – Aggravated robbery – Alice Springs

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force have charged a 21-year-old male in relation to an aggravated robbery in Sadadeen on 27 April.

    He was arrested yesterday afternoon by members of the Southern Investigations team and was subsequently charged with aggravated robbery. He is remanded to appear in Alice Springs Local Court today.

    The 24-year-old male arrested on 2 May 2025 was subsequently charged with Aggravated robbery and was remanded to re-appear in Alice Springs Local Court on 5 June 2025.

    MIL OSI News –

  • MIL-OSI: Advantage Solutions supports St. Louis in wake of tornado devastation

    Source: GlobeNewswire (MIL-OSI)

    ST. LOUIS, May 19, 2025 (GLOBE NEWSWIRE) — Advantage Solutions Inc. (NASDAQ: ADV) announced today it will provide support to The Urban League of Metropolitan St. Louis following the recent tornadoes that caused widespread destruction in the region, including significant damage to the League’s headquarters.

    In alignment with its commitment to build stronger, more resilient communities, Advantage will donate $25,000 to the Urban League’s emergency relief efforts and is mobilizing a team of employees to help with on-the-ground cleanup and recovery efforts.

    “Our hearts are with the entire St. Louis community, and especially with our partners at the Urban League. Despite suffering their own major losses, they’re once again stepping up to serve their neighbors in need,” said Advantage Solutions CEO Dave Peacock. “In times of crisis, we believe businesses must act with urgency and compassion. That’s why we’re expanding our support and calling on others to do the same.”

    In addition to the community at large, Advantage is committed to supporting its own teammates impacted by the disaster. Eligible teammates can apply for grants through the company’s Associate Support Fund, which provides financial assistance for those affected by natural disasters and other unexpected hardships. Additionally, all teammates have access to the Employee Assistance Program, which offers 24/7 support from trained advocates who can help assess needs, develop solutions, and connect individuals to valuable resources.

    Advantage’s support of the Urban League builds on a multi-year partnership that includes its Save Our Sisters Fund, which provides holistic wraparound services — including employment, education, rental, mortgage and utility assistance — for women from all walks of life to help them reach their full potential.

    To learn more about the Urban League’s recovery efforts or to make a contribution, visit www.ulstl.com.

    About Advantage Solutions

    Advantage Solutions is the leading omnichannel retail solutions agency in North America, uniquely positioned at the intersection of consumer-packaged goods (CPG) brands and retailers. With its data- and technology-powered services, Advantage leverages its unparalleled insights, expertise and scale to help brands and retailers of all sizes generate demand and get products into the hands of consumers, wherever they shop. Whether it’s creating meaningful moments and experiences in-store and online, optimizing assortment and merchandising, or accelerating e-commerce and digital capabilities, Advantage is the trusted partner that keeps commerce and life moving. Advantage has offices throughout North America and strategic investments and owned operations in select international markets. For more information, please visit YourADV.com.

    About the Urban League of Metropolitan St. Louis

    The mission of the Urban League of Metropolitan St. Louis, Inc. is to empower African Americans and others throughout the region in securing economic self-reliance, social equality, and civil rights. As the leading champion of empowerment and opportunity for African Americans, the Urban League of Metropolitan St. Louis envisions a region where all people are valued members of the community; can adequately support themselves and their families; live in the neighborhoods that are vibrant and thriving; and share in the region’s prosperity and well-being.

    Investor Contact:
    Ruben Mella
    ruben.mella@youradv.com

    Media Contact:
    Jeffrey Levine
    corp.comm@youradv.com

    The MIL Network –

  • MIL-OSI: Lightning-Fast Speeds, Massive Capacities: Crucial SSDs Elevate Gaming and Creative Endeavors

    Source: GlobeNewswire (MIL-OSI)

    • The Crucial T710 sets a new standard with unparalleled Gen5 performance for pro gamers and creators.
    • The Crucial X10 portable SSD combines sleek style, functional durability and storage options up to 8TB. 

    TAIPEI, Taiwan, May 19, 2025 (GLOBE NEWSWIRE) — Today at Computex 2025, Micron Technology, Inc. (Nasdaq: MU) expanded its leadership in consumer storage by unveiling its latest high-performance SSDs — the Crucial T710 PCIe Gen5 NVMe SSD and the Crucial X10 Portable SSD. Forged from years of dedicated research and development, these next-gen SSDs redefine performance standards across the board by pushing the limits of speed, capacity and durability — powering your world at full speed. 

    “Our fastest Gen5 drive yet, the Crucial T710 SSD turbocharges gaming and creative applications,” said Dinesh Bahal, corporate vice president and general manager of Micron’s Commercial Products Group. “Meanwhile, our X10 portable drive is a powerhouse, effortlessly handling massive backups, games and photo libraries — no matter where life takes you or what it throws your way. These innovations from Crucial underscore our relentless effort to exceed our customers’ storage needs.” 

     

    A Media Snippet accompanying this announcement is available by clicking on this link.

    Crucial T710: Blazing fast Gen5 speed for gaming and AI 

    Leveraging cutting-edge NVMe technology and Micron’s G9 NAND, the Crucial T710 delivers unmatched Gen5 performance for pro-level gaming, creative applications and data-intensive tasks like AI. Boasting our best Gen5 speeds to date, it features up to:

    • 14,900 megabytes per second (MB/s) sequential read speeds1
    • 13,800 MB/s sequential write speeds1
    • 2.2 million random read speeds1
    • 2.3 million random write speeds 1

    The T710 delivers up to 67% more IOPs per watt than previous-generation Gen5 drives, running faster and cooler and making it ideal for PCs, laptops and workstations. The optional integrated heatsink ensures the T710 stays cool under pressure and capacity options up to 4TB2 means users have the storage space they need for their most demanding projects. 

    The increasing demands of AI applications require robust hardware for optimal performance. With its dramatically increased energy efficiency and decreased latency, the Crucial T710 is perfect for enabling real-time local data processing on AI PCs, with the speed to load a large language model from SSD to memory in under one second.3

    Crucial X10: Fast and tough portable storage to expand your digital life

    Crucial’s latest portable drive, the X10, delivers read speeds of up to 2,100 MB/s,4 twice as fast as its predecessor.5 The X10 is designed for users who need a fast, reliable and durable solution to back up and store their most important photos, games, movies, documents and more. With 4TB, 6TB and 8TB6 versions available, the Crucial X10 allows users to store massive amounts of data, including up to 500,000 4K photos, 114 games or 2.6 million MP3 files7.

    With its sleek, matte blue design, the X10 is perfect for content creators, gamers, photography hobbyists and mainstream consumers who require high-speed data transfer and ample storage capacity. Its durable design is IP65 dust- and water-resistant and drop-resistant up to 9.8 feet,8 making it a vault for your data — secure, portable and always ready.

    The T710 uses Silicon Motion’s SM2508 controller, while the X10 uses the SM2322 controller.

    “To meet the evolving demands of next-generation AI PCs, we’ve engineered our industry-leading SM2508 controller to deliver game-changing Gen5 performance combined with significant power savings compared to competitors,” said Nelson Duann, senior vice president of Silicon Motion’s Client & Automotive Storage Business. “Our close technical collaboration with Micron to turbocharge the Crucial T710 will transform the latest notebooks with extreme Gen5 performance that meets the needs of intensive applications like AI, gaming and beyond.”

    Availability: The Crucial X10 is now available for purchase through etailers, retailers and global channel partners, while T710 will be available starting in July 2025.

    Additional Resources:

    About Micron Technology, Inc.

    Micron Technology, Inc. is an industry leader in innovative memory and storage solutions, transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

    © 2025 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

    1 Typical I/O performance as measured using CrystalDiskMark® with a queue depth of 512 and write cache enabled. Windows 11 Core isolation disabled for performance measurement. Fresh out-of-box (FOB) state is assumed. For performance measurement purposes, the SSD may be restored to FOB state using the secure erase command. System variations will affect measured results.

    2 Some storage capacity is used for formatting and other purposes and is not available for data storage. 1GB equals 1 billion bytes. 

    3 As tested in Micron labs using Llama 2 with 13 billion parameters,10.4GB file size and 6-bit quantization vs. the PCIe Gen4 Micron 3500 SSD.

    4 MB/s speed measured by Crucial as maximum sequential performance of device on a high-performance desktop computer with Crystal Disk Mark (version 8.0.4 for x64). Your performance may vary.

    5 Comparative speed claims measured against maximum reported speeds from Crucial X9 SSD. Your performance may vary.

    6 Some storage capacity is used for formatting and other purposes and is not available for data storage. 1GB equals 1 billion bytes. 

    7 Based on average photo size of 6MB, video at 4K/60fps in H264 format at 24GB/hr and 200GB for AAA games.

    8 Up to 3 meters without impact to data on a carpeted floor.

    The MIL Network –

  • MIL-OSI: Qifu Technology Announces First Quarter 2025 Unaudited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 19, 2025 (GLOBE NEWSWIRE) — Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a leading AI-empowered Credit-Tech platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Business Highlights

    • As of March 31, 2025, our platform has connected 163 financial institutional partners and 268.2 million consumers*1 with potential credit needs, cumulatively, an increase of 11.1% from 241.4 million a year ago.
    • Cumulative users with approved credit lines*2 were 58.4 million as of March 31, 2025, an increase of 11.6% from 52.3 million as of March 31, 2024.
    • Cumulative borrowers with successful drawdown, including repeat borrowers was 35.5 million as of March 31, 2025, an increase of 13.8% from 31.2 million as of March 31, 2024.
    • In the first quarter of 2025, financial institutional partners originated 24,401,374 loans*3 through our platform.
    • Total facilitation and origination loan volume*4 reached RMB88,883 million, an increase of 15.8% from RMB76,784 million in the same period of 2024 and a decrease of 1.1% from RMB89,885 million in the prior quarter. RMB43,811 million of such loan volume was under capital-light model, Intelligence Credit Engine (“ICE”) and total technology solutions*5, representing 49.3% of the total, an increase of 15.1% from RMB38,053 million in the same period of 2024 and a decrease of 8.3% from RMB47,796 million in the prior quarter.
    • Total outstanding loan balance*6 was RMB140,273 million as of March 31, 2025, an increase of 5.5% from RMB132,964 million as of March 31, 2024 and an increase of 2.4% from RMB137,014 million as of December 31, 2024. RMB78,681 million of such loan balance was under capital-light model, “ICE” and total technology solutions, an increase of 11.4% from RMB70,641 million as of March 31, 2024 and a decrease of 1.2% from RMB79,599 million as of December 31, 2024.
    • The weighted average contractual tenor of loans originated by financial institutions across our platform in the first quarter of 2025 was approximately 10.17 months, compared with 10.10 months in the same period of 2024.
    • 90 day+ delinquency rate*7 of loans originated by financial institutions across our platform was 2.02% as of March 31, 2025.
    • Repeat borrower contribution*8 of loans originated by financial institutions across our platform for the first quarter of 2025 was 95.1%.

    1 Refers to cumulative registered users across our platform.
    2 “Cumulative users with approved credit lines” refers to the total number of users who had submitted their credit applications and were approved with a credit line at the end of each period.
    3 Including 2,022,501 loans across “V-pocket”, and 22,378,873 loans across other products.
    4 Refers to the total principal amount of loans facilitated and originated during the given period. Retrospectively excluding the impact of discontinued service, which did not have and is not expected to have a material impact on our overall business, financial condition, and results of operations.
    5 “ICE” is an open platform primarily on our “Qifu Jietiao” APP (previously known as “360 Jietiao”), we match borrowers and financial institutions through big data and cloud computing technology on “ICE”, and provide pre-loan investigation report of borrowers. For loans facilitated through “ICE”, the Company does not bear principal risk.
    Under total technology solutions, we have been offering end-to-end technology solutions to financial institutions based on on-premise deployment, SaaS or hybrid model since 2023.
    6 “Total outstanding loan balance” refers to the total amount of principal outstanding for loans facilitated and originated at the end of each period, excluding loans delinquent for more than 180 days. Retrospectively excluding the impact of discontinued service, which did not have and is not expected to have a material impact on our overall business, financial condition, and results of operations.
    7 “90 day+ delinquency rate” refers to the outstanding principal balance of on- and off-balance sheet loans that were 91 to 180 calendar days past due as a percentage of the total outstanding principal balance of on- and off-balance sheet loans across our platform as of a specific date. Loans that are charged-off and loans under “ICE” and total technology solutions are not included in the delinquency rate calculation.
    8 “Repeat borrower contribution” for a given period refers to (i) the principal amount of loans borrowed during that period by borrowers who had historically made at least one successful drawdown, divided by (ii) the total loan facilitation and origination volume through our platform during that period.

    First Quarter 2025 Financial Highlights

    • Total net revenue was RMB4,690.7 million (US$646.4 million), compared to RMB4,482.3 million in the prior quarter.
    • Net income was RMB1,796.6 million (US$247.6 million), compared to RMB1,912.7 million in the prior quarter.
    • Non-GAAP*9 net income was RMB1,926.2 million (US$265.4 million), compared to RMB1,972.4 million in the prior quarter.
    • Net income per fully diluted American depositary share (“ADS”) was RMB12.62 (US$1.74), compared to RMB13.24 in the prior quarter.
    • Non-GAAP net income per fully diluted ADS was RMB13.53 (US$1.86), compared to RMB13.66 in the prior quarter.

    9 Non-GAAP income from operations, Non-GAAP net income, Non-GAAP operating margin, Non-GAAP net income margin and Non-GAAP net income per fully diluted ADS are Non-GAAP financial measures. For more information on these Non-GAAP financial measures, please see the section of “Use of Non-GAAP Financial Measures Statement” and the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.

    Mr. Haisheng Wu, Chief Executive Officer and Director of Qifu Technology, commented, “First quarter came in stronger than typical seasonal trend despite the ongoing macroeconomic challenges. We observed an increase in users’ activities early in the quarter as public sentiment slightly improved in response to the strong stimulus messages delivered by government officials. However, we remain prudent in our business planning as tariff-related economic uncertainties may persist throughout this year. We will continue to focus on improving the quality and sustainability of our business.

    During the quarter, we issued a record amount of ABS as the overall funding environment remained supportive. As a result, the blended funding cost continued to decline sequentially. Approximately 56% of the quarter-end loan balance was under the capital-light model, ICE and total technology solutions, demonstrating the efficiency of our platform services. The contribution from non-credit risk bearing services also continued to help us mitigate certain risks in a challenging environment. During the quarter, nearly half of our new credit line users were acquired through embedded finance partners, which we also refer to as API channels, as we further diversify our user acquisition channels. Loan volumes through the API channels increased significantly in the quarter.

    With the growing maturity and efficiency of large language models, we will continue to allocate more resources to the application of AI across our credit service offerings. We expect that these AI-powered tools will not only allow us to serve our users with better offerings at greater efficiency but also enable our financial institution clients to better utilize the cutting-edge AI technologies, through our open platform. We believe these efforts will enable us to better navigate through the current environment and position us well to capture long-term opportunities through innovative technologies, enhanced products and collaborative models.”

    “We are pleased to start 2025 with another quarter of solid financial results despite an uncertain macro environment. For the first quarter, total revenue was RMB4.69 billion and Non-GAAP net income was RMB1.93 billion,” Mr. Alex Xu, Chief Financial Officer, commented. “During the quarter, we successfully completed the US$690 million convertible notes offering and it gave us ample resources to accelerate our share repurchase programs. Our strong financial position enables us to consistently execute our strategy, support business initiatives, and enhance returns to our shareholders.”

    Mr. Yan Zheng, Chief Risk Officer, added, “In the first quarter, we maintained a relatively stable risk profile as users’ activities came in stronger than normal. Although overall risk performance fluctuated from the best level we achieved in the prior quarter, it remained well within our target range. Among key leading indicators, Day-1 delinquency rate*10 was 5.0% in the first quarter, and 30-day collection rate*11 was 88.1%. While macro volatility may induce short-term fluctuation in risk metrics, we look forward to maintaining relatively stable risk performance in the coming quarters as we seek growth opportunities in 2025.”

    10 “Day-1 delinquency rate” is defined as (i) the total amount of principal that became overdue as of a specified date, divided by (ii) the total amount of principal that was due for repayment as of such specified date.
    11 “30-day collection rate” is defined as (i) the amount of principal that was repaid in one month among the total amount of principal that became overdue as of a specified date, divided by (ii) the total amount of principal that became overdue as of such specified date.

    First Quarter 2025 Financial Results

    Total net revenue was RMB4,690.7 million (US$646.4 million), compared to RMB4,153.2 million in the same period of 2024, and RMB4,482.3 million in the prior quarter.

    Net revenue from Credit Driven Services was RMB3,110.9 million (US$428.7 million), compared to RMB3,016.3 million in the same period of 2024, and RMB2,889.5 million in the prior quarter.

    Loan facilitation and servicing fees-capital heavy were RMB429.8 million (US$59.2 million), compared to RMB243.8 million in the same period of 2024 and RMB363.0 million in the prior quarter. The year-over-year increase was primarily due to an increase in capital-heavy loan facilitation volume and longer effective loan tenor. The sequential increase was primarily due to the increase in effective loan tenor.

    Financing income*12 was RMB1,817.2 million (US$250.4 million), compared to RMB1,535.0 million in the same period of 2024 and RMB1,667.3 million in the prior quarter. The year-over-year and sequential increases were primarily due to the growth in the average outstanding balance of the on-balance-sheet loans.

    Revenue from releasing of guarantee liabilities was RMB778.2 million (US$107.2 million), compared to RMB1,166.0 million in the same period of 2024, and RMB761.8 million in the prior quarter. The year-over-year decrease was mainly due to the decrease in the average outstanding balance of off-balance-sheet capital-heavy loans during the period.

    Other services fees were RMB85.6 million (US$11.8 million), compared to RMB71.5 million in the same period of 2024, and RMB97.4 million in the prior quarter. The year-over-year and sequential changes reflected the changes in late payment fees under the credit driven services due to changes in collection rates of late paid loans.

    Net revenue from Platform Services was RMB1,579.8 million (US$217.7 million), compared to RMB1,136.9 million in the same period of 2024 and RMB1,592.8 million in the prior quarter.

    Loan facilitation and servicing fees-capital light were RMB373.7 million (US$51.5 million), compared to RMB502.7 million in the same period of 2024 and RMB515.1 million in the prior quarter. The year-over-year and sequential decreases were primarily due to the decreases in capital-light loan facilitation volume.

    Referral services fees were RMB1,004.6 million (US$138.4 million), compared to RMB548.8 million in the same period of 2024 and RMB907.2 million in the prior quarter. The year-over-year and sequential increases were mainly due to the increases in loan facilitation volume through ICE.

    Other services fees were RMB201.5 million (US$27.8 million), compared to RMB85.4 million in the same period of 2024 and RMB170.5 million in the prior quarter. The year-over-year and sequential changes reflected trends in other value-added services and late payment fees.

    Total operating costs and expenses were RMB2,716.0 million (US$374.3 million), compared to RMB2,789.1 million in the same period of 2024 and RMB2,591.9 million in the prior quarter.

    Facilitation, origination and servicing expenses were RMB714.5 million (US$98.5 million), compared to RMB736.0 million in the same period of 2024 and RMB734.7 million in the prior quarter.

    Funding costs were RMB122.7 million (US$16.9 million), compared to RMB156.0 million in the same period of 2024 and RMB126.8 million in the prior quarter. The year-over-year and sequential decreases were mainly due to lower average costs of ABS and trusts, partially offsetting by increases in fundings from ABS and trusts.

    Sales and marketing expenses were RMB591.5 million (US$81.5 million), compared to RMB415.6 million in the same period of 2024 and RMB523.9 million in the prior quarter. The year-over-year and sequential increases were primarily due to the increase in the allocation of marketing resources to embedded finance channels and content feed advertisements to generate more effective leads.

    General and administrative expenses were RMB196.5 million (US$27.1 million), compared to RMB106.4 million in the same period of 2024 and RMB156.1 million in the prior quarter. The year-over-year and sequential increases were primarily due to an increase in share-based compensations.

    Provision for loans receivable was RMB823.2 million (US$113.4 million), compared to RMB847.9 million in the same period of 2024 and RMB598.4 million in the prior quarter. The year-over-year decrease reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential increase was primarily due to an increase in loan origination volume of on-balance-sheet loans and the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile.

    Provision for financial assets receivable was RMB39.9 million (US$5.5 million), compared to RMB99.0 million in the same period of 2024 and RMB63.3 million in the prior quarter. The year-over-year decrease reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential decrease was mainly due to the decline in capital-heavy loan facilitation volume.

    Provision for accounts receivable and contract assets was RMB68.4 million (US$9.4 million), compared to RMB111.5 million in the same period of 2024 and RMB77.5 million in the prior quarter. The year-over-year and sequential decreases reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile and changes in capital-heavy and capital-light loan facilitation volume.

    Provision for contingent liability was RMB159.3 million (US$22.0 million), compared to RMB316.7 million in the same period of 2024 and RMB311.4 million in the prior quarter. The year-over-year and sequential decreases reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential decrease also reflected the decline in capital-heavy loan facilitation volume.

    Income from operations was RMB1,974.7 million (US$272.1 million), compared to RMB1,364.1 million in the same period of 2024 and RMB1,890.3 million in the prior quarter.

    Non-GAAP income from operations was RMB2,104.3 million (US$290.0 million), compared to RMB1,408.7 million in the same period of 2024 and RMB1,950.0 million in the prior quarter.

    Operating margin was 42.1%. Non-GAAP operating margin was 44.9%.

    Income before income tax expense was RMB2,220.2 million (US$306.0 million), compared to RMB1,526.2 million in the same period of 2024 and RMB1,932.7 million in the prior quarter.

    Income taxes expense was RMB423.6 million (US$58.4 million), compared to RMB366.1 million in the same period of 2024 and RMB20.0 million in the prior quarter. The sequential increase was mainly due to the writeback of withholding taxes in the prior quarter related to the Company’s dividend payment and share repurchases, as the Company became eligible to a lower tax rate.

    Net income was RMB1,796.6 million (US$247.6 million), compared to RMB1,160.1 million in the same period of 2024 and RMB1,912.7 million in the prior quarter.

    Non-GAAP net income was RMB1,926.2 million (US$265.4 million), compared to RMB1,204.8 million in the same period of 2024 and RMB1,972.4 million in the prior quarter.

    Net income margin was 38.3%. Non-GAAP net income margin was 41.1%.

    Net income attributed to the Company was RMB1,800.2 million (US$248.1 million), compared to RMB1,164.3 million in the same period of 2024 and RMB1,916.6 million in the prior quarter.

    Non-GAAP net income attributed to the Company was RMB1,929.8 million (US$265.9 million), compared to RMB1,208.9 million in the same period of 2024 and RMB1,976.4 million in the prior quarter.

    Net income per fully diluted ADS was RMB12.62 (US$1.74).

    Non-GAAP net income per fully diluted ADS was RMB13.53 (US$1.86).

    Weighted average basic ADS used in calculating GAAP net income per ADS was 140.48 million.

    Weighted average diluted ADS used in calculating GAAP and non-GAAP net income per ADS was 142.62 million.

    Ordinary shares outstanding as of March 31, 2025 was 268,930,496.

    12 “Financing income” is generated from loans facilitated through the Company’s platform funded by the consolidated trusts and Fuzhou Microcredit, which charge fees and interests from borrowers.

    30 Day+ Delinquency Rate by Vintage and 180 Day+ Delinquency Rate by Vintage

    The following charts and tables display the historical cumulative 30 day+ delinquency rates by loan facilitation and origination vintage and 180 day+ delinquency rates by loan facilitation and origination vintage for all loans facilitated and originated through the Company’s platform. Loans under “ICE” and total technology solutions are not included in the 30 day+ charts and the 180 day+ charts:

    http://ml.globenewswire.com/Resource/Download/528f864e-af49-4be7-b48b-b2650fa2808a

    http://ml.globenewswire.com/Resource/Download/12433d9d-4214-431e-b551-59f682e1ed93

    Update on Share Repurchase

    On November 19, 2024, the Board approved a share repurchase plan (the “2025 Share Repurchase Plan”) whereby the Company is authorized to repurchase up to US$450 million worth of its ADSs or Class A ordinary shares over the next 12 months starting from January 1, 2025.

    As of May 19, 2025, the Company had in aggregate purchased approximately 4.4 million ADSs on the open market for a total amount of approximately US$178 million (inclusive of commissions) at an average price of US$40.2 per ADS pursuant to the 2025 Share Repurchase Plan.

    On March 25, 2025, the Board approved a new share repurchase plan (the “March 2025 Share Repurchase Plan”) whereby the Company is authorized to use to the net proceeds from the offering of convertible senior notes due 2030 to repurchase its ADSs and/or Class A ordinary shares, which runs in addition to the Company’s 2025 Share Repurchase Plan. On March 27, 2025, the Company announced the completion of the offering of the convertible senior notes in an aggregate principal amount of US$690 million due 2030. Concurrently with the pricing of this offering, the Company repurchased approximately 5.1 million ADSs with an aggregate value of approximately US$227 million at a price of US$44.23 per ADS. The Company expects to use the remaining net proceeds, which is approximately US$450 million, from the offering of the convertible senior notes to repurchase additional ADSs and/or Class A ordinary shares on the open market and/or through other means from time to time under the March 2025 Share Repurchase Plan.

    Business Outlook

    As macro-economic uncertainties persist, the Company intends to maintain a prudent approach in its business planning for 2025. Management will continue to focus on enhancing efficiency of the Company’s operations. As such, for the second quarter of 2025, the Company expects to generate a net income between RMB1.65 billion and RMB1.75 billion and a non-GAAP net income*13 between RMB1.75 billion and RMB1.85 billion, representing a year-on-year growth between 24% and 31%. This outlook reflects the Company’s current and preliminary views, which is subject to material changes.

    13 Non-GAAP net income represents net income excluding share-based compensation expenses.

    Conference Call Preregistration

    Qifu Technology’s management team will host an earnings conference call at 8:30 PM U.S. Eastern Time on Monday, May 19, 2025 (8:30 AM Beijing Time on Tuesday, May 20, 2025).

    All participants wishing to join the conference call must pre-register online using the link provided below.

    Registration Link: https://s1.c-conf.com/diamondpass/10047043-kj87y6.html

    Upon registration, each participant will receive details for the conference call, including dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

    Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of the Company’s website at https://ir.qifu.tech.

    About Qifu Technology

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

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

    Use of Non-GAAP Financial Measures Statement

    To supplement our financial results presented in accordance with U.S. GAAP, we use Non-GAAP financial measure, which is adjusted from results based on U.S. GAAP to exclude share-based compensation expenses. Reconciliations of our Non-GAAP financial measures to our U.S. GAAP financial measures are set forth in tables at the end of this earnings release, which provide more details on the Non-GAAP financial measures.

    We use Non-GAAP income from operation, Non-GAAP operating margin, Non-GAAP net income, Non-GAAP net income margin, Non-GAAP net income attributed to the Company and Non-GAAP net income per fully diluted ADS in evaluating our operating results and for financial and operational decision-making purposes. Non-GAAP income from operation represents income from operation excluding share-based compensation expenses. Non-GAAP operating margin is equal to Non-GAAP income from operation divided by total net revenue. Non-GAAP net income represents net income excluding share-based compensation expenses. Non-GAAP net income margin is equal to Non-GAAP net income divided by total net revenue. Non-GAAP net income attributed to the Company represents net income attributed to the Company excluding share-based compensation expenses. Non-GAAP net income per fully diluted ADS represents net income excluding share-based compensation expenses per fully diluted ADS. Such adjustments have no impact on income tax. We believe that Non-GAAP income from operation, Non-GAAP operating margin, Non-GAAP net income, Non-GAAP net income margin, Non-GAAP net income attributed to the Company and Non-GAAP net income per fully diluted ADS help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in results based on U.S. GAAP. We believe that Non-GAAP income from operation and Non-GAAP net income provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making. Our Non-GAAP financial information should be considered in addition to results prepared in accordance with U.S. GAAP, but should not be considered a substitute for or superior to U.S. GAAP results. In addition, our calculation of Non-GAAP financial information may be different from the calculation used by other companies, and therefore comparability may be limited.

    Exchange Rate Information

    This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB 7.2567 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2025.

    Safe Harbor Statement

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

    For more information, please contact:

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

    Unaudited Condensed Consolidated Balance Sheets
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
           
      December 31, March 31, March 31,
      2024 2025 2025
      RMB RMB USD
    ASSETS      
    Current assets:      
    Cash and cash equivalents 4,452,416 8,578,822 1,182,193
    Restricted cash 2,353,384 3,236,427 445,992
    Short term investments 3,394,073 2,040,269 281,157
    Security deposit prepaid to third-party guarantee companies 162,617 173,437 23,900
    Funds receivable from third party payment service providers 462,112 347,416 47,875
    Accounts receivable and contract assets, net 2,214,530 2,316,593 319,235
    Financial assets receivable, net 1,553,912 1,530,084 210,851
    Amounts due from related parties 8,510 3,242 447
    Loans receivable, net 26,714,428 30,675,633 4,227,215
    Prepaid expenses and other assets 1,464,586 1,510,818 208,196
    Total current assets 42,780,568 50,412,741 6,947,061
    Non-current assets:      
    Accounts receivable and contract assets, net-noncurrent 27,132 20,004 2,757
    Financial assets receivable, net-noncurrent 170,779 189,379 26,097
    Amounts due from related parties 51 39 5
    Loans receivable, net-noncurrent 2,537,749 2,314,826 318,992
    Property and equipment, net 362,774 405,926 55,938
    Land use rights, net 956,738 951,557 131,128
    Intangible assets 11,818 11,420 1,574
    Goodwill 42,414 42,407 5,844
    Deferred tax assets 1,206,325 1,244,757 171,532
    Other non-current assets 36,270 34,112 4,701
    Total non-current assets 5,352,050 5,214,427 718,568
    TOTAL ASSETS 48,132,618 55,627,168 7,665,629
           
    LIABILITIES AND EQUITY      
    Current liabilities:      
    Payable to investors of the consolidated trusts-current 8,188,454 6,541,069 901,383
    Accrued expenses and other current liabilities 2,492,921 3,337,707 459,948
    Amounts due to related parties 67,495 48,442 6,675
    Short term loans 1,369,939 1,219,431 168,042
    Guarantee liabilities-stand ready 2,383,202 2,377,408 327,616
    Guarantee liabilities-contingent 1,820,350 1,794,747 247,323
    Income tax payable 1,040,687 1,054,537 145,319
    Other tax payable 109,161 3,897 537
    Total current liabilities 17,472,209 16,377,238 2,256,843
    Non-current liabilities:      
    Deferred tax liabilities 439,435 569,734 78,511
    Payable to investors of the consolidated trusts-noncurrent 5,719,600 10,354,000 1,426,819
    Convertible senior notes – 4,912,524 676,964
    Other long-term liabilities 255,155 297,730 41,028
    Total non-current liabilities 6,414,190 16,133,988 2,223,322
    TOTAL LIABILITIES 23,886,399 32,511,226 4,480,165
    TOTAL QIFU TECHNOLOGY INC EQUITY 24,190,043 23,063,344 3,178,216
    Noncontrolling interests 56,176 52,598 7,248
    TOTAL EQUITY 24,246,219 23,115,942 3,185,464
    TOTAL LIABILITIES AND EQUITY 48,132,618 55,627,168 7,665,629
           
    Unaudited Condensed Consolidated Statements of Operations
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
           
      Three months ended March 31,
      2024  2025  2025
      RMB RMB USD
    Credit driven services 3,016,282 3,110,866 428,690
    Loan facilitation and servicing fees-capital heavy 243,766 429,775 59,225
    Financing income 1,534,986 1,817,221 250,420
    Revenue from releasing of guarantee liabilities 1,166,018 778,222 107,242
    Other services fees 71,512 85,648 11,803
    Platform services 1,136,901 1,579,831 217,706
    Loan facilitation and servicing fees-capital light 502,715 373,709 51,498
    Referral services fees 548,824 1,004,622 138,441
    Other services fees 85,362 201,500 27,767
    Total net revenue 4,153,183 4,690,697 646,396
    Facilitation, origination and servicing 736,026 714,492 98,460
    Funding costs 155,963 122,657 16,903
    Sales and marketing 415,617 591,495 81,510
    General and administrative 106,415 196,482 27,076
    Provision for loans receivable 847,921 823,187 113,438
    Provision for financial assets receivable 99,003 39,863 5,493
    Provision for accounts receivable and contract assets 111,473 68,445 9,432
    Provision for contingent liabilities 316,664 159,343 21,958
    Total operating costs and expenses 2,789,082 2,715,964 374,270
    Income from operations 1,364,101 1,974,733 272,126
    Interest income, net 50,058 67,774 9,340
    Foreign exchange gain 82 2,123 293
    Other income, net 111,968 175,600 24,198
    Income before income tax expense 1,526,209 2,220,230 305,957
    Income taxes expense (366,065) (423,631) (58,378)
    Net income 1,160,144 1,796,599 247,579
    Net loss attributable to noncontrolling interests 4,143 3,576 493
    Net income attributable to ordinary shareholders of the Company 1,164,287 1,800,175 248,072
    Net income per ordinary share attributable to ordinary shareholders of Qifu Technology, Inc.
    Basic 3.73 6.41 0.88
    Diluted 3.65 6.31 0.87
           
    Net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc.  
    Basic 7.46 12.82 1.76
    Diluted 7.30 12.62 1.74
           
    Weighted average shares used in calculating net income per ordinary share  
    Basic 312,027,192 280,958,513 280,958,513
    Diluted 318,915,157 285,237,588 285,237,588
           
    Unaudited Condensed Consolidated Statements of Cash Flows
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
         
      Three months ended March 31,
      2024  2025  2025 
      RMB RMB USD
    Net cash provided by operating activities 1,958,267 2,805,685 386,634
    Net cash used in investing activities (3,138,175) (3,240,186) (446,510)
    Net cash provided by financing activities 1,775,409 5,449,071 750,902
    Effect of foreign exchange rate changes 2,095 (5,121) (705)
    Net increase in cash and cash equivalents 597,596 5,009,449 690,321
    Cash, cash equivalents, and restricted cash, beginning of period 7,558,997 6,805,800 937,864
    Cash, cash equivalents, and restricted cash, end of period 8,156,593 11,815,249 1,628,185
           
    Unaudited Condensed Consolidated Statements of Comprehensive Income/(Loss)
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
       
      Three months ended March 31,
      2024 2025 2025
      RMB RMB USD
    Net income 1,160,144 1,796,599 247,579
    Other comprehensive income, net of tax of nil:      
    Foreign currency translation adjustment 2,010 (15,362) (2,117)
    Other comprehensive income (loss) 2,010 (15,362) (2,117)
    Total comprehensive income 1,162,154 1,781,237 245,462
    Comprehensive loss attributable to noncontrolling interests 4,143 3,576 493
    Comprehensive income attributable to ordinary shareholders 1,166,297 1,784,813 245,955
           
    Unaudited Reconciliations of GAAP and Non-GAAP Results
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
           
      Three months ended March 31,
      2024 2025 2025
      RMB RMB USD
    Reconciliation of Non-GAAP Net Income to Net Income      
    Net income 1,160,144 1,796,599 247,579
    Add: Share-based compensation expenses 44,645 129,614 17,861
    Non-GAAP net income 1,204,789 1,926,213 265,440
    GAAP net income margin 27.9% 38.3%  
    Non-GAAP net income margin 29.0% 41.1%  
           
    Net income attributable to shareholders of Qifu Technology, Inc. 1,164,287 1,800,175 248,072
    Add: Share-based compensation expenses 44,645 129,614 17,861
    Non-GAAP net income attributable to shareholders of Qifu Technology, Inc. 1,208,932 1,929,789 265,933
    Weighted average ADS used in calculating net income per ordinary share for both GAAP and non-GAAP EPS – diluted 159,457,579 142,618,794 142,618,794
    Net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc. – diluted 7.30 12.62 1.74
    Non-GAAP net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc. – diluted 7.58 13.53 1.86
           
    Reconciliation of Non-GAAP Income from operations to Income from operations      
    Income from operations 1,364,101 1,974,733 272,126
    Add: Share-based compensation expenses 44,645 129,614 17,861
    Non-GAAP Income from operations 1,408,746 2,104,347 289,987
    GAAP operating margin 32.8% 42.1%  
    Non-GAAP operating margin 33.9% 44.9%  
           

    The MIL Network –

  • MIL-OSI New Zealand: A 22 year old mystery solved

    Source: New Zealand Police

    A 22 year old Lake Taupo mystery involving a Russian stuntman has been solved thanks to some useful information being sent in following an appeal by Police.

    Artour Melikov was 36 when he was reported missing on 10 September 2002. Turangi Police located his vehicle at the Jellicoe Reserve, 400 metres north of Bulli Point at Lake Taupo.

    Despite extensive search efforts, there was no sign of Artour and Police established he hadn’t been seen since he left Auckland two days prior.

    On 9 January this year, Police were called to a holiday park at Motutere, where several bones were located near a walking track. Police believed the bones were those of Artour, but extensive enquiries had been unable to lead to a positive identification.

    Senior Constable Barry Shepherd QSM, of the Taupo Area Search and Rescue Squad, said following an appeal for information two people have come forward with photos which have enabled Police to formally identify Artour.

    “The two photos sent in have shown clear evidence of his gold teeth and clothing he was wearing when he was found,” Senior Constable Shepherd said.

    “I want to thank these people for coming forward to allow us to formally identify Artour and provide some closure.”

    The case has been referred to the Coroner.

    ENDS

    Issued by the Police Media Centre.

    MIL OSI New Zealand News –

  • MIL-OSI USA: DOE Finalizes 2024 LNG Export Study, Paving Way for Stronger American Energy Exports

    Source: US Department of Energy

    WASHINGTON— The U.S. Department of Energy (DOE) today released its Response to Comments on the 2024 LNG Export Study, marking a critical step toward returning to regular order on liquefied natural gas (LNG) exports. With this action, DOE has completed the final hurdles left over from the Biden administration’s reckless pause on LNG export permits, paving the way for the Trump Administration to fully unleash American LNG exports.

    “President Trump was given a mandate to unleash American energy dominance, and that includes U.S. LNG exports,” U.S. Energy Secretary Chris Wright said. “The facts are clear: expanding America’s LNG exports is good for Americans and good for the world. Today, the Department of Energy is following the facts, closing the door on the Biden administration’s failed policies, and putting America’s energy future on stronger footing.”

    “The 2024 Study confirms what our nation always knew—LNG supports our economy, strengthens our allies, and enhances national security. Biden’s opposition defied reason and reality and hurt American progress. We are pleased to issue the Response to Comments on the 2024 LNG Export Study, which will allow DOE to close out this chapter and fully return to regular order on LNG exports,” said Tala Goudarzi, Principal Deputy Assistant Secretary of the Office of Fossil Energy and Carbon Management.

    The 2024 LNG Study was released at the end of the Biden administration in December 2024 and had a public comment period through March 20th of this year. Based on the record evidence from the 2024 LNG Export Study and the public comments received, DOE makes several key findings, including: the United States has a robust natural gas supply that is sufficient to meet growing levels of exports while minimizing impacts to domestic prices; growing LNG exports increases our gross domestic product and expands jobs while improving our trade balance; and increasing U.S. LNG exports enhances domestic and international global security with no discernable impact to global greenhouse gas emissions.  

    In sum, DOE concludes that the complete record from the 2024 LNG Export Study, inclusive of the Study, the comments received, and this Response to Comments, supports the proposition that exports of LNG from the United States are in the best interest of the American public.

    With the public comments to the 2024 LNG Export Study now addressed, DOE will proceed with issuing final orders on pending applications to export U.S.-sourced natural gas as LNG to non-free trade agreement countries. 

    A Notice of Availability of the Response to Comments will be published in the Federal Register in the coming days. In the meantime, the Response to Comments is available on DOE’s website here. 

                                                                                                        ###

    MIL OSI USA News –

  • MIL-OSI USA: Energy Secretary Chris Wright Delivers Keynote Remarks on Completion of First B61-13 Production Unit at Pantex Plant

    Source: US Department of Energy

    AMARILLO— U.S. Secretary of Energy Chris Wright delivered keynote remarks today at the Department of Energy’s Pantex Plant in Amarillo, Texas, marking the completion of the first production unit of the B61-13 nuclear gravity bomb.

    The B61-13 is the latest modification to the B61 family of nuclear weapons and was completed nearly a year ahead of schedule and less than two years after the program was first announced, making it one of the most rapidly developed and fielded weapons since the Cold War. Under President Trump’s leadership, the Department is modernizing America’s nuclear stockpile to deliver peace through strength. The B61-13 builds on proven B61-12 production capabilities and incorporates modern safety, security, and accuracy features, with a yield tailored for hardened and large-area military targets. The B61-13 is one of seven warhead modernization programs NNSA is executing to ensure the long-term performance and credibility of the U.S. deterrent.

    Secretary Wright’s full remarks:

    It’s an honor to be here on this special day. Every time I hear our national anthem performed, I feel strong emotions. I feel first a sense of gratitude—gratitude for those that came before us and created this nation against all odds, that put their lives on the line and stuck to their principles, no matter what the pressure was. I also feel a sense of pride to be born in this country and to have the great luck to live as an American. The ideas of freedom, liberty, and justice for all—but freedom isn’t free. Freedom isn’t free.

    That national anthem was written over 200 years ago, the last time there were foreign troops on our soil. Most ideas or nations get taken over and they get snuffed out; they lose their way. We’re unique in history, and our nation has not. And that’s only because of the men and women in our country that have stood strong, both on the principles and with the might to defend our borders and to defend our ideals.

    And Pantex and the people of Amarillo have been central to that mission. And I’ll come back to that in a second.

    I bring regards from President Trump, who is incredibly committed to this mission of modernizing our nuclear stockpile as quickly and as efficiently—but as robustly and strongly—as we can.

    He got elected on really a simple principle: that prosperity at home and peace abroad are what America and the world needed. And those go together. A prosperous, strong America is the best way to guarantee peace abroad. A strong, principled America is central to world peace and to the lives of all of us—all our friends, all our families, and all our fellow Americans across the country.

    I have the incredible honor to be in this role. I’ve been an entrepreneur my whole life. The last time I had a boss, I was 19 years old. And then I met a new guy a little more than a year ago at dinner and a very candid dialogue about energy and about our country. And right away, he said, “You should be Secretary of Energy.”

    And then he came to me after the dinner and said, “Would you do it?” I said, if I’m asked to serve my country, there’s only one answer. I didn’t have to think about that one. I did look at my wife that night and she said, “Absolutely, we’re moving to DC. You know, I’m willing.”

    And my wife has been this lifelong partner for me, up for every adventure. So, I’ve been a very, very lucky guy.

    As an entrepreneur, I started a number of businesses, mostly around energy—technology and energy. That’s why I am an energy tech nerd. But I started—I named the last company Liberty Energy, two of my favorite words.

    We have 30-year life expectancy throughout all of human history. 20,000 years ago, before the invention of agriculture, and 200 years ago— there was 30 years of global life expectancy at birth. Today, it’s 73 years. Just a few generations back. Just an incredible transformation.

    What happened? There’s all sorts of history before 200 years ago. What happened? And to me, two fundamental things changed:

    The growth of bottom-up social organization—human liberty. Societies were top-down. Women were property of their husbands, of their fathers. Slavery was endemic across every major society throughout all of history. We didn’t start perfect in those ideals, but America started with a North Star—to bring liberty, not just to our country, to the world. That mission has been not complete, but remarkably, remarkably successful in making the lives we all have.

    And the partner in making that happen was energy. It was this explosion in available energy—from wood. Mostly wood, a little bit of wind, a little bit of water flowing. That’s what powered the world throughout all of human history. And then the arrival of coal and oil and natural gas. And then these derivative energy sources that are only possible because of coal, oil, and natural gas, like nuclear, large-scale hydro, wind, solar—everything else is really derivative of hydrocarbons.

    But those two things changed our world: liberty and energy.

    And I think President Trump realized that both of those were under some threat. We saw a growing movement in our country that maybe free speech and free interchange of ideas—maybe those were out of fashion. They didn’t fit with the world today.

    I think we saw—as we heard from the General earlier—we saw growing threats to our liberty around the world. To us, a rapidly rising China. It’s a huge, huge global threat we haven’t seen in our lifetimes. We’ve seen Russia’s activities and where Russia stands today. And, as we heard, the world has gotten more dangerous.

    We need very much today a strong America. We need a prosperous America to keep peace for our shores and peace abroad, to the extent we can achieve it.

    This community—the Pantex community and the broader Amarillo community—have been central to that for over 80 years. In World War II, much to our surprise with the bombing of Pearl Harbor. Within a few months, this facility was built and started quickly to build armaments to win the war. A war we fought in the Pacific. We fought in the Atlantic—by far the largest conflict in human history.

    You’re a ways away from any danger here from foreign enemies, but they’re there. This community rose up and cranked out armaments to allow our troops around the globe to win that war.

    In that war, we also had a very unique effort for science. That wartime mobilization meant creativity, meant patriotism, and a rushed effort—literally in two and a half years in Los Alamos—we developed nuclear weapons under the gun of both war and the knowledge that Nazi Germany also had a nuclear weapons program. Getting second wasn’t an option.

    But America rose to that challenge. And we developed nuclear weapons, which you learn in school are horrific and terrifying—and they are terrifying. I would say they’re not horrific. They and American strength and resolve have probably been the biggest bringers of peace in the world for 80 years, without any live conflict between major powers.

    There are plenty of wars around the world, and President Trump’s agenda is to bring as many of those conflicts as possible to an end. But your chance of dying from violent death in our generation—and our children’s generation—is the lowest it’s ever been.

    We have the news and we hear about all the conflicts around the world, but because of a strong America, because of an unbowed resolve, we have a much safer—not completely safe—but a much safer and more peaceful world that’s allowed ourselves, our children, our grandchildren to pursue wonderful, dreamy lives.

    But to maintain that, our biggest risk is complacency. That risk is there. And that risk has been mostly at bay because of the strength of our military and the commitment of American leadership, American citizens, and American resolve.

    Pantex is absolutely central to that.

    And there was a brief break from ’45 to ’51, where we won the war, but of course, the Cold War rose quickly. And we understood this feeling of security was very brief.

    The only way we could ensure security was to be the strongest, the most powerful, the most technologically advanced, and the most committed to our values of any nation on Earth.

    Pantex was reinvented as the final assembler, where all roads lead to our nuclear stockpile. This nuclear stockpile has had unbelievably positive effects—not just on the lives of Americans—but on the lives today of 8 billion people in the world that benefit from American strength and American security.

    But the backbone of that strength and security—the ultimate guarantor of the sovereignty of our nation—is our nuclear stockpile.

    You built that stockpile in the ’50s, ’60s, ’70s, and ’80s. Then we went into a more peaceful period. We disassembled some of those weapons—also done by you. We maintained that stockpile and those weapons throughout all that time period.

    And now, with age on those weapons and rising security risks around the world, we’re called to action to modernize multiple weapons systems in our stockpile. Who’s going to lead that effort? The people looking at me in the room right now, and your more than 4,000 other colleagues that are working hard right now to make our country safe and secure.

    I was honored—and a little bit emotional as well—to stamp that B61-13 today. That’s the cutting edge of this weapons stockpile. And amazingly—have you heard of anything today that’s done a year early? Anybody built a house or had a major project or done anything else—showed up to your contractors and they said, “good news is, we’re a year ahead of schedule?”

    I’m not sure I’ve ever heard that in my life. And I know this year in the broader program here, we’re 107% ahead of plan. That’s out of fashion the last few years—everything’s late, over budget, and delayed. But not here. Not in this community. Not in this complex.

    So, I end with a thanks— a thanks from me personally. I’m so proud to be on your team now. I’m here for the count. They’ll take me out in a few years, but I’m pretty motivated to be here and to be in this role.

    A thanks from President Trump. We got him to bring back common sense, strength in America. Resolve in America. We can do big things—and we can do them on time and on budget—because we are responsible to spend the taxpayer money of 340 million Americans.

    Your delivery—early, on budget—and the whole modernization program so far ahead of schedule, a huge warm thank you from President Trump.

    And I’ll end with a thank you for the American people—all the American people. They go to sleep more secure at night, not worried about foreign invaders. They’ve got worries, indeed, but it’s a luxury to worry about other things.

    If you’re worried about your physical security—of you and your kids—nothing else matters. Well, because of your tireless efforts here for generations, you give all Americans a feeling of security. I’ve got things to worry about, but my foreign enemies aren’t one of them.

    God bless you all. Thank you for your tremendous work. I’m proud to be your partner.

    MIL OSI USA News –