Category: Entertainment

  • MIL-OSI: Bitfarms Completes Strategic Sale of its Yguazu, Paraguay Data Center

    Source: GlobeNewswire (MIL-OSI)

    -Accretive transaction valued at approximately U.S. $85 million-

    -Bitfarms to reinvest capital in U.S. growth opportunities-

    This news release constitutes a “designated news release” for the purposes of Bitfarms’ second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, Ontario, March 18, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global Bitcoin and vertically integrated data center company, today announced the successful completion of the sale of its 200 MW data center in Yguazu, Paraguay to HIVE Digital Technologies, Ltd. (“HIVE”).

    Bitfarms CEO Ben Gagnon stated, “We are pleased to have expeditiously completed the sale of our Yguazu site to HIVE, allowing us to streamline our operations and further rebalance our portfolio towards North America. We now anticipate that our year-end 2025 proforma energy portfolio will be ~80% North American and ~20% international, marking a significant milestone in our transition from an international Bitcoin miner to a North American energy and compute infrastructure company.”

    CFO Jeff Lucas stated, “This accretive sale is expected to significantly reduce our 2025 capex requirements, while reducing our average power costs by 10%. We plan to reinvest the savings and capital from this sale towards our 1.1 GW U.S. growth pipeline for Bitcoin mining and HPC/AI infrastructure, in line with our strategy to grow in the U.S. and diversify beyond Bitcoin mining.”

    About Bitfarms Ltd.

    Founded in 2017, Bitfarms is a global Bitcoin and vertically integrated data center company that sells its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining facilities with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers.

    Bitfarms currently has 15 operating Bitcoin data centers in four countries: the United States, Canada, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    https://x.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • HPC/AI = High Performance Computing / Artificial Intelligence
    • GW = Gigawatt

    Forward-Looking Statements

    This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the sale of the Yguazu, Paraguay Site, the merits of the rebalancing operations to North America, the reinvestment of the proceeds of the sale for growth and projected growth, the North American energy and compute infrastructure strategy and other statements regarding future growth, plans and objectives of the Company are forward-looking information. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.

    This forward-looking information is based on assumptions and estimates of management of the Company at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to: the failure to receive payments owing pursuant to the sale of the Yguazu, Paraguay Site on the terms as announced or at all; the reinvestment of the proceeds of the sale may not occur on an economic basis; the anticipated benefits of the rebalancing of operations to North America and the North American energy and compute infrastructure strategy may not be realized; an inability to apply the Company’s data centers to HPC/AI opportunities on a profitable basis; a failure to secure long-term contracts associated with HPC/AI customers on terms which are economic or at all; the construction and operation of the Company’s facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company’s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company’s profitability; future capital needs and the ability to complete current and future financings, including Bitfarms’ ability to utilize an at-the-market offering program ( “ATM Program”) and the prices at which securities may be sold in such ATM Program, as well as capital market conditions in general; share dilution resulting from an ATM Program and from other equity issuances; the risk that a material weakness in internal control over financial reporting could result in a misstatement of the Company’s financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; any regulations or laws that will prevent Bitfarms from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission at www.sec.gov), including the restated MD&A for the year-ended December 31, 2023, filed on December 9, 2024. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by the Company. There can be no assurance that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law. Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

    Investor Relations Contacts:

    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contacts:

    Caroline Brady Baker
    Director, Communications
    cbaker@bitfarms.com

    The MIL Network

  • MIL-OSI Asia-Pac: DISASTER MANAGEMENT PLAN FOR DELHI

    Source: Government of India

    Posted On: 18 MAR 2025 3:34PM by PIB Delhi

    The primary responsibility of undertaking rescue, relief and rehabilitation measures in the event of a natural disaster rests with the State Governments concerned. The Central Government, wherever required, supplements the efforts of the State Governments by providing logistics and financial support in cases of natural disasters of severe nature and beyond coping capacity of the State resources.

    As per Section 23 (2) of the Disaster Management Act, 2005, the State Executive Committee is responsible for the preparation of Disaster Management Plan (Plan) of its State, after consultation with local authorities, district Authorities and having regard to the guidelines laid down by the National Authority, which is to be approved by the State Authority. Further, as per Section 22 (2) (o) of the Act, the State Executive Committee is mandated to lay down, review and update State level response plans.

    National Disaster Management Plan (NDMP), issued by the National Disaster Management Authority (NDMA) in 2016 and further revised in 2019, facilitates State Authorities in preparation of their SDMPs.

    Delhi Disaster Management Authority (DDMA) has informed that they have prepared a Delhi Disaster Management Plan (DDMP), which has provisions for disaster preparedness and response in case of any disaster in the city including Earthquake Action Plan. The DDMP is available at https://ddma.delhi.gov.in/ddma/ddma-plan-home.

    Further, DDMA has also intimated that in view of the recent Delhi earthquake of 4.0 magnitude on 17.02.2025, a review meeting has been

    taken by Hon’ble Lieutenant Governor with NDMA on 12.03.2025. The agenda included vulnerability and risk assessment of Delhi and Earthquake Preparedness Plan. NDMA submitted the Terms of Reference for Earthquake Preparedness Plan.

    As part of ongoing activities, some important preparedness and capacity building measures taken in Delhi are as under:- 

    1.      NDMA has been actively facilitating the States including Delhi for conducting Multi State Level Mock Exercises on various hazards as per their vulnerability profile.

    2.      NDMA has conducted following Table Top Exercise and Mock Exercise for Delhi:-

    S.No.

    Date

    Name of Disaster

    a

    15, 28 to 30 Jun 2017

    Earthquake Scenario

    b

    12, 27-28 Jun 2019

    Earthquake (Multi State Mock Exercise)

    c

    20 Aug 2020

    Earthquake Scenario (Table Top Exercise)

    d

    22-24 Mar 2023

    Earthquake (Multi State Table Top Exercise)

    3.      After the recent Delhi earthquake on 17.02.2025, in addition to the ongoing awareness generation activities, the following have also been undertaken by NDMA :

    i) the TV panel discussion programme of NDMA- ‘Aapda Ka Samna’ was recorded and broadcasted through Doordharshan TV Network at national and regional levels on 2nd March 2025 and 8th March 2025 respectively;

    ii) NDMA has undertaken a series of street plays (Nukkad Natak) across various areas of Delhi in March 2025;

    iii) various updates and creatives on earthquake have been posted on the social media platforms of NDMA.

    This was stated by the Minister of State in the Ministry of Home Affairs Shri Nityanand Rai in a written reply to a question in the Lok Sabha.

    *****

    RK/VV/ASH/RR/PR/PS

    (Release ID: 2112252) Visitor Counter : 45

    MIL OSI Asia Pacific News

  • MIL-OSI Economics: Samsung Electronics Showcases AI-Powered TV Innovations at the 2025 European Tech Seminar

    Source: Samsung

    Samsung Electronics, the world’s leading TV manufacturer for 19 consecutive years, is kicking off the 2025 Tech Seminars in Frankfurt, Germany, from March 18–19, giving media and industry professionals an exclusive first look at its most advanced AI-powered TV and audio innovations before they hit the market.
     
    Now in its 14th year, the seminar provides field experts with hands-on experiences of Samsung’s latest TV lineup ahead of its official release. This year, the seminar will be showcasing technologies related to AI-powered picture quality, immersive sound, and next-generation viewing experiences.
     
     
    Revolutionizing the Screen Experience With AI
    Samsung’s 2025 TVs will feature powerful AI-driven features designed to enhance the user experience. At the heart of this innovation is Vision AI, an advanced platform that personalizes and simplifies the way users interact with their screens. Features such as Click to Search allows viewers to instantly access relevant information about on-screen content, while Live Translate provides real-time audio translations for seamless global viewing. Quick Remote transforms a smartphone into a control hub, offering a more intuitive and connected experience.
     
    Samsung has also introduced a seamless multi-device experience, enabling effortless content sharing and control across Samsung devices. Features like Storage Share, which allows easy file transfers between Galaxy devices and TVs, and Multi Control, which lets users operate multiple Samsung devices with a single keyboard and mouse, create a more connected and streamlined ecosystem.
     
     
    Next-Generation OLED & Neo QLED Picture Quality
    Samsung’s 2025 OLED TVs introduce Glare Free 2.0, minimizing reflections for a crystal-clear and immersive experience. Powered by the NQ4 AI Gen3 Processor and 128 neural networks, AI Upscaling sharpens details with remarkable precision, while OLED HDR technology boosts brightness and contrast.
     
    The 2025 Neo QLED 4K lineup features advanced local dimming for deeper blacks and enhanced HDR accuracy. AI Motion Enhancer, previously exclusive to 8K models, is now available in 4K TVs, delivering ultra-smooth visuals ideal for sports and action-packed content.
     

    Expanding the Lifestyle TV Portfolio
    Samsung’s Lifestyle TV lineup continues to push boundaries of design and innovation, blending cutting-edge technology with personalized home aesthetics.
     
    The Frame Pro redefines both entertainment and home décor, now featuring Mini-LED Local Dimming for enhanced brightness and lifelike picture quality. With access to over 3,000 digital artworks via Samsung Art Store, users can instantly transform their TV into a stunning personal gallery. The addition of Wi-Fi 7 ensures seamless installation, reducing cable clutter for a cleaner, more sophisticated setup.
     
    Meanwhile, The Premiere 5 offers a compact yet powerful projection experience with touch interaction, making it ideal for gaming, education, and immersive home entertainment. Designed for versatility, it delivers immersive visuals in a range of environments, from classrooms to home theaters and much more.
     

    Introducing the Next Era of Immersive Sound
    Samsung is redefining audio innovation with Eclipsa Audio, the industry’s first IAMF 3D sound technology developed in collaboration with Google. This advanced system optimizes spatial sound by analyzing environmental reflections, delivering a deeply immersive surround sound experience.
     
    At the 2025 Tech Seminar, attendees will be among the first to experience Eclipsa Audio firsthand and see its seamless integration with Samsung’s latest soundbars for a next-level home theater experience.
     
    “At Samsung, we’re committed to making all the devices you use smarter and more connected,” said Benjamin Braun, Samsung Europe’s Chief Marketing Officer. “Whether it’s using Vision AI to automatically optimize your TV settings or AI-powered services to make activities such as search or home management simpler, we’re showing how technology can feel more personal and tangible than ever before.”
     
    Following the Frankfurt event, Samsung will bring the Tech Seminar series to key regions including Southeast Asia and Latin America, providing more industry professionals with exclusive hands-on previews of its AI-powered display and audio innovations ahead of their market launch.
     
    ▲ Kevin Cha from Samsung’s Picture Quality Solution Lab explains how Glare Free 2.0 technology and OLED HDR technology enhance viewing comfort.
     
    ▲ Haylie Jung from Samsung’s Picture Quality Solution Lab highlights advanced local dimming and AI-powered enhancements in the 2025 Neo QLED 4K, featuring the NQ4 AI Gen3 Processor.
     
    ▲ Steffen Greb from Samsung’s ECSO demonstrates Vision AI and seamless multi-device connectivity across Samsung products.
     
    ▲ Deokhwan Kim from Samsung’s Picture Quality Solution Lab demonstrates The Premiere 5’s touch capabilities.
     
    ▲ Hyungwoo Kim from Samsung’s Sound Device Lab showcases Eclipsa Audio, Samsung’s 3D audio technology, allowing users to enjoy immersive three-dimensional sound experience.

    MIL OSI Economics

  • MIL-OSI Economics: Samsung Announces Official Rollout of One UI 7 Starting From April 7

    Source: Samsung

    Samsung Electronics today announced that the official rollout of One UI 7 will start April 7,1 bringing a bold new design for greater personalization and control to the user experience. One UI 7 introduces new interface built for AI, helping users interact with their Galaxy devices more naturally than ever before. The update will be available starting with the Galaxy S24 series, Galaxy Z Fold6 and Z Flip6, gradually rolling out to more Galaxy smartphones and tablets.
     

     
     
    Bold New Design for Greater Personalization
    One UI 7 comes with a simple, impactful and emotive design, bringing streamlined and cohesive experience to Galaxy users. A simplified home screen, redesigned One UI widgets and lock screen allow users to intuitively and seamlessly customize their devices.
     
    For added convenience, Now Bar2 provides real-time updates that matter most right on the lock screen. So during a morning run, users can easily check their progress and see what song is playing in your Galaxy Buds — all with a simple swipe, without unlocking their phone.
     
     
    Smarter AI Features for More Intuitive Experience
    One UI 7 introduces seamless AI-driven experiences that help users to stay productive and explore their creativity.
     
    With Galaxy AI, users can simplify everyday tasks, minimizing the need to switch between applications. AI Select3intuitively recommends by understanding context. For example, a user can simple swipe the Edge Panel and click ‘AI Select’ icon when watching a video to save it as a GIF file. Writing Assist4 allows users to easily summarize or automatically format contents in which texts can be selected.

     
    One UI 7 also enables simple edits to give users more creative control and freedom. Drawing Assist5helps bring ideas to life with more than a single input, including combinations of text prompts and images or sketches. Audio Eraser6 makes advanced editing accessible for all, by isolating categories of sounds and removing unwanted noise in videos.

     

     
    With deeper Google Gemini7 integration, controlling the device is as easy as speaking to a friend. Long-press the side button and say, “Find Italian, pet-friendly restaurants with outdoor seating nearby.” Gemini instantly pulls up recommendations in one seamless interaction.
     
    Natural language search8 extends to Settings, making it easier to adjust preferences. Users can simply go into Settings and say “My eyes are feeling tired.” In an instant, recommended options such as adjusting brightness or turning on Eye comfort shield appear.
     
     
    Availability
    One UI 7 will begin rolling out on April 7, expanding to more Galaxy smartphones and tablets in the following weeks,9 including the Galaxy S24 series, Galaxy S24 FE, the Galaxy S23 series, Galaxy S23 FE, Galaxy Z Fold6 and Z Flip6, Galaxy Z Fold5 and Z Flip5, the Galaxy Tab S10 series and the Galaxy Tab S9 series.
     
    For more details, please visit: Samsung Newsroom, Samsungmobilepress.com and Samsung.com.
     
     
    1 Availability may vary by market.2 Availability of functions supported within the apps may vary by country. Some functional widgets may require a network connection and/or Samsung Account login.3 Results may vary depending on model. Accuracy of results is not guaranteed. Requires internet connection and Samsung Account login. Service availability may vary by country, language or device model. Availability of supported languages may vary. Certain languages may require language pack download.4 Writing Assist is available for Galaxy S24 series, Galaxy S24 FE, Galaxy S23 series, Galaxy S23 FE, Galaxy Z Fold6 and Z Flip6, Galaxy Z Fold5 and Z Flip5, Galaxy Tab S10 series and Galaxy Tab S9 series.5 Drawing Assist is available for Galaxy S24 series, Galaxy S24 FE, Galaxy S23 series, Galaxy S23 FE, Galaxy Z Fold6 and Z Flip6, Galaxy Z Fold5 and Z Flip5, Galaxy Tab S10 series and Galaxy Tab S9 series. Requires a network connection and Samsung Account login. A visible watermark is overlaid on the image output upon saving in order to indicate that the image is generated by AI. The accuracy and reliability of the generated output is not guaranteed.6 Audio Eraser is available in Galaxy S24 series, Galaxy S24 FE, Galaxy Z Fold6 and Z Flip6 and Galaxy Tab S10 series. Results may vary per video depending on how sounds present in the video. Samsung Account login required. Certain types of sound can be detected such as voices, music, wind, nature, crowd and noise. The actual sound detection may vary depending on audio source and the condition of the video. Accuracy of results is not guaranteed.7 Internet connection and compatible operating system required. Availability may vary be device, country and language.8 Currently supported languages include Korean, English, German, French, Italian, Spanish, Chinese, Japanese and Portuguese. Available in Galaxy S24 series, Galaxy S24 FE, Galaxy Z Fold6 and Z Flip6 and Galaxy Tab S10 series. Accuracy of results is not guaranteed.9 Availability and timing may vary by market.

    MIL OSI Economics

  • MIL-OSI Economics: Experience the Ultimate in Music, Tech, and Entertainment at the 2025 Galaxy KDay Music Festival

    Source: Samsung

    The wait is almost over! One of the premier events on the entertainment calendar, the Galaxy KDay Music Festival is set to take place on Saturday, 5 April 2025 at the beautiful Meerendal Wine Estate in Cape Town. Once again, Samsung is proud to be the headline sponsor, in partnership with Primedia’s Cape Town-based Kfm 94.5, bringing you an unforgettable day of music, fun, and cutting-edge technology.
     
    The highly anticipated annual event brings together the Mother City’s music lovers, tech enthusiasts, and families for an action-packed, fun-filled day with great music, awesome company and the chance to discover the latest in Samsung’s tech innovation.
     
    “We’re thrilled to be part of Galaxy KDay yet again, where we bring together world-class entertainment and cutting-edge technology for our fun-loving consumers. As a brand committed to enhancing everyday life, this event gives us the perfect platform to share our latest innovations, like the Galaxy S25, with the vibrant KDay community. Whether you’re there for the good music, the great food, or discovering the future of tech, we’re proud to be part of this incredible experience that promises to create lasting memories for everyone in attendance,” says Kgomotso Mosiane, Head of Marketing: Mobile eXperience at Samsung Electronics South Africa.
     
    A Day for the Whole Family
    Galaxy KDay is more than just a music festival—it’s an immersive experience for everyone! Enjoy world-class live performances, delicious food, and a vibrant festival atmosphere in the stunning setting of Meerendal Wine Estate. Whether you’re there for the music or to discover how the Galaxy S25 can elevate your day-to-day life, there’s something for everyone.
     

     
    This year’s festival promises to elevate your experience like never before. Festival-goers will have the exclusive chance to discover first-hand, the Galaxy S25 series, the latest in mobile innovation, and witness the seamless fusion of ultimate tech and entertainment. Samsung’s Galaxy S25 is designed to transform the way you connect, work, and entertain yourself, and this year’s festival will bring it to life in an exciting, hands-on environment.
     
    The Galaxy S25 series is setting a new standard as a true AI companion with the most natural and context-aware mobile experiences. There will be a specially erected booth showcasing the phone’s advanced features, from its powerful AI-driven tools to its stunning design and accessories. With its multimodal capabilities, the Galaxy S25 makes everyday tasks extraordinary, offering smooth transitions with seamless actions across apps.
     
    Electrifying Artist Line-Up
    The 2025 Galaxy KDay Music Festival is bringing a diverse mix of top-tier South African talent to the stage. This year’s confirmed artist line-up includes legendary band, The Parlotones, the iconic Youngsta CPT, the soulful Appel, and the dynamic Karen Zoid. Stay tuned as more artists will be announced soon, ensuring an unforgettable day of music that’ll have you dancing from start to finish.

    MIL OSI Economics

  • MIL-OSI Asia-Pac: IMPACT OF 10 GWh CAPACITY PROJECT

    Source: Government of India

    Posted On: 18 MAR 2025 3:24PM by PIB Delhi

    The Ministry of Heavy Industries (MHI) administers a Production Linked Incentive (PLI) Scheme namely “National Programme on Advanced Chemistry Cell (ACC) Battery Storage”. Under the scheme, the total outlay is ₹18,100 Crore for a capacity of 50 GWh for a period of 5 years after gestation period of 2 years. A total of 40GWh in two tranches has been allocated to four PLI beneficiaries. Further, as per recommendation of EGoS in July 2024, MHI initiated the process for finalizing bid documents for balance 10 GWh capacity for Grid Scale Stationary Storage (GSSS) applications in consultation with Ministry of New and Renewable Energy (MNRE). The details of the scheme may be seen at:https://heavyindustries.gov.in/pli-scheme-national-programme-advanced-chemistry-cell-acc-battery-storage. The objectives of the PLI ACC scheme are:

    1. Promoting indigenous manufacturing
    2. Enhancing cost competitiveness
    3. Boosting clean energy and sustainability
    4. Encouraging investment and innovation
    5. Developing a robust supply chain and generating employment and economic growth.
    6. Fostering local manufacturing to decrease dependence on imported batteries, supporting the broader goal of self-reliance in the energy sector.

    The “National Mission on Transformative Mobility and Battery Storage” is a government initiative in India which, inter-alia, aimed at accelerating the adoption of electric vehicles (EVs) and battery storage technologies by promoting manufacturing of Giga Scale battery manufacturing units.

    The scheme is creating ACC manufacturing ecosystem in the country by reducing battery costs, making EVs more affordable and accelerating adoption, enhancing energy storage solutions for renewable integration, improving grid stability and energy efficiency.

    This information was given by the Minister of State for Steel and Heavy Industries, Shri Bhupathiraju Srinivasa Varma in a written reply in the Lok Sabha today.

    ****

    TPJ/NJ

    (Release ID: 2112233) Visitor Counter : 66

    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: A.P.T.C. SAMOA GRADUATION 2025 – 27th February 2025.

    Source: Government of Western Samoa

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    KEYNOTE ADDRESS by the Honourable Seuula Ioane Tuāau Minister for Education and Culture.

    Acknowledgments

    • Reverend Dr Taipisia Leilua

    • Your Excellency William Robinson, Australia High Commissioner to Samoa;

    • Vice Chancellor of the National University of Samoa;

    • Commissioners and Chief Executive Officers of APTC partners;

    • Chief Executive Officers of Government Agencies and Non-Government Organizations; and Principal of TVET institutions;

    • Australia Pacific Training Coalition (APTC) Samoa and Tonga Country Director, Lagaaia Lealiifano Easter Manila Silipa and staff;

    • APTC Graduands 2025;

    • Esteemed guests, ladies and gentlemen

    Introduction

    Tālofa lava and a pleasant good morning to you all.

    On behalf of the Samoan Government, it gives me a great privilege to be here to deliver the keynote address at today’s graduation ceremony.

    Congratulations and Acknowledgements

    Firstly, I would like to extend my heartfelt congratulations to each of the 89 Samoan women and men on achieving a significant milestone by graduating today.

    The Samoan Government acknowledges and appreciates your hard work and resilience in completing your Australian qualifications and we are proud of your accomplishments.

    Today, you will be conferred with Australian qualifications in seven (7) different vocational programs: drainage, plumbing services, skills for work and vocational pathways, commercial cookery, light vehicle mechanical technology, tourism, and wall and floor tiling.

    To our graduands, as your Minister for Education and Culture, I wish to convey the Government’s sincere congratulations on your achievements.

    Malo le finau! Malo le fai o le faiva!

    Gender Equality

    I am proud to announce that forty (40) of today’s graduates are women who have successfully completed their TVET programs. Notably, ten (10) of these remarkable women have excelled in traditionally male-dominated fields such as drainage and plumbing. Your achievements serve as a powerful testament to your hard work, dedication, breaking barriers and paving the way for future women and girls of Samoa.

    Government Support

    The Government of Samoa is committed to ensuring equal opportunities for everyone. I take this opportunity to acknowledge the Australian Government’s support through APTC, which offers access bursaries for our Samoan people, providing opportunities for them to pursue Technical and Vocational Education and Training (TVET). This supports the priorities of the Samoa Education Sector Plan 2019-2024, including inclusive education and TVET. It also supports the priorities of the Government of Samoa’s disability-inclusive development goals, as outlined in the National Policy for Persons with Disabilities 2021-2031.

    Today we also recognise the 24 graduates from the various government agencies who have partnered with APTC Samoa. These dedicated individuals from the Samoa Fire and Emergency Services Authority, Samoa Water Authority, and the Land Transport Authority have successfully completed the Certificate II in Drainage qualification. This signifies the positive impact of APTC’s support in our community.

    Partnerships

    The Samoan Government acknowledges the Australian Government and APTC for their partnership and support to other various government agencies and NGOs including the Samoa Police, Prisons and Corrections Services, Electric Power Corporation, Lakapi Samoa, Nuanua ole Alofa, Samoa Faafine Association, National Youth Council of Samoa and more. Your commitment to enhancing productivity, reducing unemployment, and building stronger communities in Samoa is truly commendable.

    It is great to see a growing number of our people leveraging these skills for improved livelihoods. The Government of Samoa stands committed to working alongside the Australian Government to ensure that our skills training aligns with industry needs, leading to robust employment outcomes for all Samoans. This collaboration has yielded impressive results, with over 3390 Samoans graduating with Australian qualifications since 2007.

    I would like to also highlight APTC’s collaboration with the Samoa Qualifications Authority (SQA) in bolstering Samoan qualifications and expanding our workforce’s global competitiveness, especially in high-demand fields, ensuring that our graduates are well-prepared to meet the challenges and opportunities of the global market.

    Additionally, APTC’s partnership with the National University of Samoa (NUS) which has been ongoing since 2007, ensures that our training programs are relevant and of high quality. Together, APTC and NUS have developed and accredited various programs and have provided numerous capability development opportunities for students as well as staff.

    I acknowledge and sincerely thank the Australian Government for its unwavering support and collaboration with the Samoa Education sector and TVET organisations through APTC, which has been crucial in nurturing and shaping Samoa’s future.

    Concluding Remarks

    To all our graduates, congratulations once again!

    I am confident that APTC has provided you with the skills and qualifications necessary to become invaluable contributors to Samoa’s expanding workforce. You now join a network of over 25,850 APTC Alumni across the region, and I eagerly look forward to your contributions to the national growth of Samoa.

    For those of you who have trained away from home at other APTC campuses, your dedication to learning sets a powerful example for future generations.

    As TVET role models, you now have the power to transform society’s perception of this valuable pathway to fulfilling careers. Remember, your learning journey does not end here. Continue to grow, both personally and professionally, to contribute to the betterment of Samoa.

    Well done to all the graduates! May you achieve great success in all your future endeavours.

    Faafetai tele lava. Soifua ma ia manuia.

    BACKGROUND OF THE AUSTRALIA PACIFIC TRAINING COALITION

    A centre of training excellence, the Australia Pacific Training Coalition (APTC) helps Pacific Island and Timorese citizens gain Australian skills and qualifications for a wide range of vocational careers.

    Over 25,860 Pacific Island and Timorese citizens have graduated with Australian qualifications from APTC campuses in Fiji, Samoa, Vanuatu, Papua New Guinea, Solomon Islands, and Timor-Leste. These qualifications range from accredited short courses to diploma level training for various vocational areas, including automotive, manufacturing, construction, electrical, tourism, hospitality, education, management, health and community services.

    These graduates have returned to industry and implemented a range of new skills, with over 90% of employers of APTC graduates reporting their significant contribution to improving workplace productivity.

    APTC collaborates with regional governments, industry and training providers to develop a more skilled, inclusive and productive workforce aligned with domestic and international labour market requirements, to enhance Pacific prosperity.

    APTC’s end-of-program outcomes are:

    1. APTC and partner graduates have improved employment outcomes

    2. Co-investment in skills training increases

    3. Selected TVET partners demonstrate quality TVET provision

    A.P.T.C. is an Australian Government initiative in partnership with the Pacific and Timor-Leste.

    APTC is implemented by TAFE Queensland (RTO 0275).

    Thank you.

    Photo by the Government of Samoa (Leota Marc Membrere)

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: CELEBRATION OF THE BIRTHDAY OF HIS MAJESTY THE EMPEROR OF JAPAN.- 21st February 2025.

    Source: Government of Western Samoa

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    REMARKS by the Prime Minister, Honourable Fiame Naomi Mataafa On the occasion of the celebration of the Birthday of His Majesty the Emperor of Japan hosted by the Ambassador of Japan, H.E Ryotaro Suzuki

    (Friday, 21 February 2025 at 6.30-8.30pm, Taumeasina Island Resort)

    Reverend Semikueva Fa’atoafe Ugapo

    Afioga Tuimalealiifano Vaaletoa Sualauvi II and Masiofo

    Members of the Council of Deputies

    Cabinet Ministers

    Speaker of the House

    Leader of Opposition

    Members of Parliament

    Chief Justice and Members of the Judiciary

    H.E Ryotaro Suzuki, Ambassador of Japan

    Members of the Diplomatic Corps

    Ladies and Gentlemen.

    Talofa and a pleasant good evening to you all.

    I would like to thank Your Excellency, Ryotaro Suzuki, for the invitation to say a few words at this evening’s reception to celebrate the 65th birthday of His Majesty the Emperor of Japan, Emperor Naruhito.

    The celebrations this evening, is also about the relationship that both our countries established with the aim to nurture and enhance friendly relations.

    Japan and Samoa have developed strong cordial relations that have prospered over the years. Japan and Samoa established diplomatic relations in April 1973 and this year marks 52 years of mutually beneficial partnership.

    Like our other development partners, Japan’s generous assistance through development cooperation has ensured that programs which Samoa could not invest in nor manage without the requisite technical expertise were well accommodated and resourced to overcome the constraints. The JICA volunteer programme in Samoa is an integral aspect in our relationship. The deployment of JICA volunteers to critical areas such as education, health, water/sanitation and environmental management has contributed immensely to the development of these areas.

    Japan continues to provide key economic infrastructure with related heavy-duty equipment. Last year, we signed an MoU under Japan’s Grant Assistance for

    Economic and Social Development Programme for the procurement of a new drilling rig for the Samoa Water Authority and the Exchange of Notes for the new Health Science Campus and resource centre at Le Papaigalagala campus

    Japan is committed to funding small-scale projects that directly benefit our village communities contributing to their social and economic development. A number of valuable projects funded under Japan’s Grant Assistance for Grass Roots Human Security Projects recently, included the reconstruction of the Samatau Primary school, the building of the Avele College Hall, the construction of the Mental Health Facility of Goshen Trust Mental Health Services, the handover of a Mobile Dental Clinic to the Ministry of Health, the handover of water tank trucks and pumper water tanks to FESA and the handover of 5 Toyota Landcruisers to the Samoa Water Authority to assist with routine inspection and repair works. Two weeks ago, Japan and the Samoa Umbrella for Non-Governmental Organisations (SUNGO) signed an agreement for the construction of the Samoa Integrated Training Centre for Community Development.

    Your Excellency,

    Our bilateral relations have achieved much through people-to-people exchange activities and the comprehensive development efforts of both countries. The exchange of high-level visits plays a crucial role in enhancing cooperation and commitment in our bilateral relations. In February 2024, Samoa hosted the visit of Japan’s former Minister of Foreign Affairs, Hon Ms. Yoko Kamikawa. We also received a senior level visit from the Japanese Ministry of Justice in support of democratic governance with a reciprocal visit of our Minister of Justice and delegation to Japan.

    In July last year, I attended the 10th Pacific Islands Leaders Meeting (PALM10) in Tokyo and had the opportunity to meet bilaterally with Prime Minister Kishida discussing cooperation that are aligned with the “2050 Strategy for the Blue Pacific Continent” which would translate to activities addressing country needs and the delivery of assistance bilaterally.

    These are, but a few highlights of the remarkable partnership our two countries have engaged in recently that continue to foster effective cooperation for the development of Samoa and reap mutual benefits for our two countries.

    Your Excellency,

    To conclude, I would like to offer our warmest congratulations on the celebration of his Majesty Emperor Naruhito’s birthday.

    Excellencies, Ladies and Gentlemen, I invite you all to please raise your glasses with me and let us pay tribute: “for the continued good health and prosperity of His Majesty Emperor Naruhito, and to continuing good relations between Samoa and Japan.”

    Ia Manuia!

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: NEVADA NATIONAL GUARD STRENGTHENS EMERGENCY MEDICAL RESPONSE WITH SAMOA FIRE AND EMERGENCY SERVICES AUTHORITY-24th February 24

    Source: Government of Western Samoa

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    [ PRESS RELEASE Apia, Samoa] – The Nevada National Guard visited Samoa from February 17-21, 2025, to continue its ongoing collaboration with the Samoa Fire and Emergency Services Authority (SFESA). This visit marks another key milestone in the enduring partnership between the U.S. and Samoa through the Nevada State Partnership Program (SPP).

    The week was filled with activities designed to strengthen emergency medical response skills which included combat casualty care, trauma management techniques, as well as ambulance operations and patient transportation. The training built on previous successful engagements, including the Nevada National Guard’s emergency medical services program with SFESA in August 2024 and an advanced skills training program in prison operations with the Ministry of Police, Prisons, and Corrections Services in November 2024.

    “This partnership represents not just an exchange of knowledge, but a bridge connecting our two communities — one that enhances our capabilities, strengthens our leadership, and ultimately ensures the safety and well-being of those we serve,” said U.S. Chargé d’Affaires. “Through the Nevada State Partnership Program, we continue to pave the way for a future defined by a safer, stronger, and more prosperous Pacific region.”

    ABOUT THE NEVADA NATIONAL GUARD AND THE STATE PARTNERSHIP PROGRAM

    The Nevada National Guard has been engaged in the State Partnership Program with Samoa to enhance cooperation in security, disaster response, and emergency preparedness. Through regular exchanges and training workshops, this partnership strengthens regional stability and fosters mutual understanding between the United States and Samoa.

    END.

    SOURCE – US Embassy in Apia

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    MIL OSI Asia Pacific News

  • MIL-OSI USA: Bringing the Heat: Abigail Howard Leads Thermal Systems for Artemis Rovers, Tools

    Source: NASA

    Depending on where you stand at the lunar South Pole, you may experience temperatures of 130°F (54°C) during sunlit periods, or as low as -334°F (-203°C) in a permanently shadowed region. Keeping crews comfortable and tools and vehicles operational in such extreme temperatures is a key challenge for engineers at Johnson Space Center working on elements of NASA’s Artemis campaign.
    Abigail Howard is part of that innovative team. Since joining Johnson in 2019, she has conducted thermal analysis for projects including the lunar terrain vehicle (LTV), pressurized rover, VIPER (Volatiles Investigating Polar Exploration Rover), and Gateway – humanity’s first lunar space station. Her work explores how different materials and components respond to different temperatures and how to manage heat transfer in products and structures.
    She currently serves as the passive thermal system manager for the Extravehicular Activity and Human Surface Mobility Program, leading a small team of thermal analysts. Together, they provide expertise on passive thermal design, hardware, modeling, and testing to vendors and international partners that are developing rovers and tools for human exploration of the lunar surface.

    Howard said her sudden shift from thermal analysis engineer to thermal system manager involved a steep learning curve. “Every day was like drinking through a firehose. I had to learn very quickly about systems engineering tasks, project phases, and leadership, while also learning about many new thermal approaches and designs so that I could provide good insight to project leadership and program vendors and partners,” she said. “Having a good group of senior engineers and friends to lean on and building up my team helped me get through it, but the single most important thing was not giving up. It gets easier and persistence pays off!”

    Howard feels fortunate to have worked on many interesting projects at NASA and presented her work at several conferences. Top achievements include watching her first NASA project launch successfully on Artemis I and supporting the LTV Source Evaluation Board as the thermal representative. “Something I’m really proud of is obtaining funding for and managing a test that looked at thermal performance of dust mitigation for spacecraft radiators,” she added.

    She believes interesting and challenging work is important but says the biggest determinant to professional success and satisfaction is your team and your team lead. “Having a really great team and team lead on Gateway thermal taught me the kind of leader and teammate I want to be,” she said.
    Howard encourages fellow members of the Artemis Generation to not let imposter syndrome get in their way. “Focus on the evidence of your abilities and remember that no one is in this alone,” she said. “It’s okay to ask for help.”

    MIL OSI USA News

  • MIL-OSI: KE Holdings Inc. Announces Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results and a Final Cash Dividend

    Source: GlobeNewswire (MIL-OSI)

    BEIJING, March 18, 2025 (GLOBE NEWSWIRE) — KE Holdings Inc. (“Beike” or the “Company”) (NYSE: BEKE and HKEX: 2423), a leading integrated online and offline platform for housing transactions and services, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024, and also announced a final cash dividend.

    Business and Financial Highlights for the Fourth Quarter and Fiscal Year 2024

    • Gross transaction value (GTV)1 in 2024 was RMB3,349.4 billion (US$458.9 billion), an increase of 6.6% year-over-year. GTV of existing home transactions was RMB2,246.5 billion (US$307.8 billion), an increase of 10.8% year-over-year. GTV of new home transactions was RMB970.0 billion (US$132.9 billion), a decrease of 3.3% year-over-year. GTV of home renovation and furnishing was RMB16.9 billion (US$2.3 billion), an increase of 27.3% year-over-year. GTV of emerging and other services was RMB116.0 billion (US$15.9 billion), an increase of 17.6% year-over-year.
      In the fourth quarter of 2024, GTV was RMB1,143.8 billion (US$156.7 billion), an increase of 55.5% year-over-year. GTV of existing home transactions was RMB744.8 billion (US$102.0 billion), an increase of 59.1% year-over-year. GTV of new home transactions was RMB355.3 billion (US$48.7 billion), an increase of 49.3% year-over-year. GTV of home renovation and furnishing was RMB5.3 billion (US$0.7 billion), an increase of 34.7% year-over-year. GTV of emerging and other services was RMB38.3 billion (US$5.3 billion), an increase of 50.0% year-over-year.
    • Net revenues in 2024 were RMB93.5 billion (US$12.8 billion), an increase of 20.2% year-over-year.
      In the fourth quarter of 2024, net revenues were RMB31.1 billion (US$4.3 billion), an increase of 54.1% year-over-year.
    • Net income in 2024 was RMB4,078 million (US$559 million), a decrease of 30.8% year-over-year. Adjusted net income2in 2024 was RMB7,211 million (US$988 million), a decrease of 26.4% year-over-year.
      In the fourth quarter of 2024, net income was RMB577 million (US$79 million), a decrease of 13.9% year-over-year. Adjusted net income was RMB1,344 million (US$184 million), a decrease of 21.6% year-over-year.
    • Number of stores was 51,573 as of December 31, 2024, a 17.7% increase from one year ago. Number of active stores3 was 49,693 as of December 31, 2024, an 18.3% increase from one year ago.
    • Number of agents was 499,937 as of December 31, 2024, a 16.9% increase from one year ago. Number of active agents4 was 445,271 as of December 31, 2024, a 12.1% increase from one year ago.
    • Mobile monthly active users (MAU)5 averaged 43.2 million in the fourth quarter of 2024, relatively flat compared to 43.2 million in the same period of 2023.

    Mr. Stanley Yongdong Peng, Chairman of the Board and Chief Executive Officer of Beike, commented, “in 2024, China’s real estate industry is accelerating towards an advanced stage, with customer demand shifting towards reducing decision-making risks and pursuing higher living quality. We empower service providers with technology, enabling optimal decision-making and driving the industry’s leap toward higher service efficiency.”

    “Under the strategy of active growth and ecosystem optimization, we achieved significant growth in several key metrics in 2024. The number of active stores on the platform reached nearly 49,700, an 18.3% increase year-on-year, while the number of active agents surpassed 445,000, a 12.1% increase year-on-year. The total GTV was RMB3,349.4 billion, with net revenues hitting a historic high of RMB93.5 billion, a 20.2% increase year-on-year. GTV of existing home transactions grew 10.8% year-on-year, while net revenues from new home transaction services increased by 10.1% year-on-year. The home renovation and furnishing services saw continuous improvement in scale and delivery capability, achieving net revenues of RMB14.8 billion, a 36.1% year-on-year increase. The home rental services managed over 430,000 units by the end of 2024, generating net revenues of RMB14.3 billion, a 135.0% year-on-year increase, with refined operations improving customer experience. Our Beihaojia business explored driving product strength and reduce risks in the new home industry through the C2M (customer to manufacturing) model.”

    “Looking ahead, we remain committed to our strategic direction of becoming ‘more technology-driven and more human-centric.’ AI-powered technology will enable deeper insights into personalized customer needs and redefine the boundaries of service providers’ capabilities, while a human-centered approach will highlight the value of service. We believe that the integration of technology and human touch will drive a step-change in consumer experience and service efficiency, unlocking new possibilities for the residential services industry,” concluded Mr. Peng.

    Mr. Tao Xu, Executive Director and Chief Financial Officer of Beike, added, “in 2024, both the existing and new home markets saw a significant recovery following the stimulus policies introduced in September. The total volume of existing home transactions saw year-on-year growth in 2024, and structurally, the proportion of existing home transactions within the overall real estate market further increased.

    Facing market opportunities, we continued to make breakthroughs in scale in 2024. Our full-year net revenues reached RMB93.5 billion, up 20.2% year-over-year. Net revenues from existing and new home transaction services both grew year-over-year. Net revenues from non-housing transaction services grew by 64.2% year-over-year, accounting for 33.8% of total net revenues, serving as a new growth engine. Our earnings quality improved as well. Net operating cash inflow in 2024 was RMB9.45 billion, 1.3 times our adjusted net income for the year.

    We placed great emphasis on shareholder returns. We have in aggregate repurchased shares with a total consideration of approximately US$716 million in 2024, which accounted for approximately 3.9% of the Company’s total issued shares at the end of 2023. Meanwhile, we are here to declare our final cash dividend, with an aggregate amount of approximately US$0.4 billion, reaffirming our commitment to sharing long-term value with our shareholders.

    We believe our outstanding financial management capabilities will safeguard our ‘one body, three wings’ strategy and facilitate the steady growth of all business lines.”

    Fourth Quarter 2024 Financial Results

    Net Revenues

    Net revenues increased by 54.1% to RMB31.1 billion (US$4.3 billion) in the fourth quarter of 2024 from RMB20.2 billion in the same period of 2023, primarily attributable to the increase of total GTV and the expansion of home rental business. Total GTV increased by 55.5% to RMB1,143.8 billion (US$156.7 billion) in the fourth quarter of 2024 from RMB735.6 billion in the same period of 2023, primarily attributable to the recovery of housing transaction market driven by the supportive policies and the Company’s proactive growth strategy and enhanced capabilities in market coverage.

    • Net revenues from existing home transaction services were RMB8.9 billion (US$1.2 billion) in the fourth quarter of 2024, increased by 47.5% from RMB6.0 billion in the same period of 2023. GTV of existing home transactions increased by 59.1% to RMB744.8 billion (US$102.0 billion) in the fourth quarter of 2024 from RMB468.1 billion in the same period of 2023. The higher growth rate in GTV compared to net revenues in existing home transaction services was primarily attributable to a decrease in the commission rate of existing home sales transaction services, driven by a strategic scaling-down of certain value-added services offerings as the Company prioritized service quality assurance to ensure the premium offerings maintain their value proposition to customers.

      Among that, (i) commission revenue was RMB7.4 billion (US$1.0 billion) in the fourth quarter of 2024, increased by 53.0% from RMB4.9 billion in the same period of 2023, primarily attributable to the increase of GTV of existing home transactions served by Lianjia stores of 65.7% to RMB311.7 billion (US$42.7 billion) in the fourth quarter of 2024 from RMB188.1 billion in the same period of 2023, partially offset by the decrease in the commission rate of existing home sales transaction services charged by Lianjia stores which was driven by a strategic scale back certain value-added services offerings; and

      (ii) revenues derived from platform service, franchise service and other value-added services, which are mostly charged to connected stores and agents on the Company’s platform increased by 25.0% to RMB1.5 billion (US$0.2 billion) in the fourth quarter of 2024 from RMB1.2 billion in the same period of 2023, mainly due to an increase of GTV of existing home transactions served by connected agents on the Company’s platform of 54.7% to RMB433.2 billion (US$59.3 billion) in the fourth quarter of 2024 from RMB280.0 billion in the same period of 2023, partially offset by incentive-based reductions in platform service and franchise service fees for connected stores.

    • Net revenues from new home transaction services increased by 72.7% to RMB13.1 billion (US$1.8 billion) in the fourth quarter of 2024 from RMB7.6 billion in the same period of 2023, primarily due to the increase of GTV of new home transactions of 49.3% to RMB355.3 billion (US$48.7 billion) in the fourth quarter of 2024 from RMB238.0 billion in the same period of 2023, and the improved monetization capability. Among that, the GTV of new home transactions facilitated on Beike platform through connected agents, dedicated sales team with the expertise on new home transaction services and other sales channels increased by 51.6% to RMB287.5 billion (US$39.4 billion) in the fourth quarter of 2024 from RMB189.7 billion in the same period of 2023, and the GTV of new home transactions served by Lianjia brand increased by 40.4% to RMB67.8 billion (US$9.3 billion) in the fourth quarter of 2024 from RMB48.3 billion in the same period of 2023.
    • Net revenues from home renovation and furnishing increased by 12.8% to RMB4.1 billion (US$0.6 billion) in the fourth quarter of 2024 from RMB3.6 billion in the same period of 2023, primarily attributable to a) the increase of orders driven by the synergetic effects from customer acquisition and conversion between home transaction services and home renovation and furnishing business and b) a larger contribution from furniture and home furnishing sales in categories such as customized furniture, soft furnishings, and electrical appliances.
    • Net revenues from home rental services increased by 108.7% to RMB4.6 billion (US$0.6 billion) in the fourth quarter of 2024 from RMB2.2 billion in the same period of 2023, primarily attributable to the increase of the number of rental units under the Carefree Rent model.
    • Net revenues from emerging and other services were RMB0.4 billion (US$0.1 billion) in the fourth quarter of 2024, compared to RMB0.7 billion in the same period of 2023.

    Cost of Revenues

    Total cost of revenues increased by 59.1% to RMB24.0 billion (US$3.3 billion) in the fourth quarter of 2024 from RMB15.1 billion in the same period of 2023.

    • Commission – split. The Company’s cost of revenues for commissions to connected agents and other sales channels increased by 71.7% to RMB8.7 billion (US$1.2 billion) in the fourth quarter of 2024, from RMB5.1 billion in the same period of 2023, primarily due to the increase in net revenues from new home transaction services derived from transactions facilitated through connected agents and other sales channels.
    • Commission and compensation – internal. The Company’s cost of revenues for internal commission and compensation increased by 64.8% to RMB6.5 billion (US$0.9 billion) in the fourth quarter of 2024 from RMB3.9 billion in the same period of 2023, primarily due to an increase in the net revenues from existing and new home transactions derived from transactions facilitated through Lianjia agents and the increase in fixed compensation costs mainly driven by the increased number of Lianjia agents and improved benefits for them.
    • Cost of home renovation and furnishing. The Company’s cost of revenues for home renovation and furnishing increased by 9.8% to RMB2.9 billion (US$0.4 billion) in the fourth quarter of 2024 from RMB2.6 billion in the same period of 2023, which was in line with the growth of net revenues from home renovation and furnishing.
    • Cost of home rental services. The Company’s cost of revenues for home rental services increased by 101.8% to RMB4.4 billion (US$0.6 billion) in the fourth quarter of 2024 from RMB2.2 billion in the same period of 2023, primarily attributable to the growth of net revenues from home rental services.
    • Cost related to stores. The Company’s cost related to stores increased by 8.1% to RMB0.8 billion (US$0.1 billion) in the fourth quarter of 2024 from RMB0.7 billion in the same period of 2023, primarily attributable to the increased number of Lianjia stores.
    • Other costs. The Company’s other costs increased to RMB0.7 billion (US$0.1 billion) in the fourth quarter of 2024 from RMB0.5 billion in the same period of 2023, mainly due to the increased tax and surcharges in line with the increased net revenues and an increase in provision and funding costs of financial services.

    Gross Profit

    Gross profit increased by 39.4% to RMB7.2 billion (US$1.0 billion) in the fourth quarter of 2024 from RMB5.1 billion in the same period of 2023. Gross margin was 23.0% in the fourth quarter of 2024, compared to 25.5% in the same period of 2023, primarily due to a) a lower contribution margin of existing home transaction services led by the increased fix compensation costs as percentage of net revenues from existing home transaction services and b)a lower contribution margin of emerging and other services.

    Income from Operations

    Total operating expenses increased by 15.8% to RMB6.2 billion (US$0.8 billion) in the fourth quarter of 2024 from RMB5.3 billion in the same period of 2023.

    • General and administrative expenses were RMB3.0 billion (US$0.4 billion) in the fourth quarter of 2024, compared with RMB2.6 billion in the same period of 2023, mainly due to the increase in personnel costs, partially offset by the decrease of share-based compensation expenses.
    • Sales and marketing expenses increased by 12.7% to RMB2.3 billion (US$0.3 billion) in the fourth quarter of 2024 from RMB2.1 billion in the same period of 2023, mainly due to the increase in sales and marketing expenses for home renovation and furnishing business.
    • Research and development expenses increased by 38.4% to RMB739 million (US$101 million) in the fourth quarter of 2024 from RMB534 million in the same period of 2023, primarily due to the increased headcount of research and development personnel and the increased technical service costs.

    Income from operations was RMB1,011 million (US$139 million) in the fourth quarter of 2024, compared to loss from operations of RMB173 million in the same period of 2023. Operating margin was 3.2% in the fourth quarter of 2024, compared to negative 0.9% in the same period of 2023, primarily due to the improved operating leverage in the fourth quarter of 2024, compared to the same period of 2023.

    Adjusted income from operations6 was RMB1,755 million (US$240 million) in the fourth quarter of 2024, compared to RMB856 million in the same period of 2023. Adjusted operating margin7 was 5.6% in the fourth quarter of 2024, compared to 4.2% in the same period of 2023. Adjusted EBITDA8 was RMB2,343 million (US$321 million) in the fourth quarter of 2024, compared to RMB1,700 million in the same period of 2023.

    Net Income

    Net income was RMB577 million (US$79 million) in the fourth quarter of 2024, compared to RMB670 million in the same period of 2023, primarily due to an increase in income tax expenses.

    Adjusted net income was RMB1,344 million (US$184 million) in the fourth quarter of 2024, compared to RMB1,714 million in the same period of 2023.

    Net Income attributable to KE Holdings Inc.’s Ordinary Shareholders

    Net income attributable to KE Holdings Inc.’s ordinary shareholders was RMB570 million (US$78 million) in the fourth quarter of 2024, compared to RMB670 million in the same period of 2023.

    Adjusted net income attributable to KE Holdings Inc.’s ordinary shareholders9 was RMB1,336 million (US$183 million) in the fourth quarter of 2024, compared to RMB1,713 million in the same period of 2023.

    Net Income per ADS

    Basic and diluted net income per ADS attributable to KE Holdings Inc.’s ordinary shareholders10 were RMB0.51 (US$0.07) and RMB0.49 (US$0.07) in the fourth quarter of 2024, respectively, compared to RMB0.58 and RMB0.56 in the same period of 2023, respectively.

    Adjusted basic and diluted net income per ADS attributable to KE Holdings Inc.’s ordinary shareholders11 were RMB1.19 (US$0.16) and RMB1.14 (US$0.16) in the fourth quarter of 2024, respectively, compared to RMB1.49 and RMB1.44 in the same period of 2023, respectively.

    Cash, Cash Equivalents, Restricted Cash and Short-Term Investments

    As of December 31, 2024, the combined balance of the Company’s cash, cash equivalents, restricted cash and short-term investments amounted to RMB61.6 billion (US$8.4 billion).

    Fiscal Year 2024 Financial Results

    Net Revenues

    Net revenues increased by 20.2% to RMB93.5 billion (US$12.8 billion) in 2024 from RMB77.8 billion in 2023, primarily attributable to the increase of net revenues from new home transaction services and the expansion of home renovation and furnishing and home rental business. Total GTV increased by 6.6% to RMB3,349.4 billion (US$458.9 billion) in 2024 from RMB3,142.9 billion in 2023, primarily attributable to the Company’s proactive growth strategy and enhanced capabilities in market coverage.

    • Net revenues from existing home transaction services were RMB28.2 billion (US$3.9 billion) in 2024, relatively flat compared with RMB28.0 billion in 2023. GTV of existing home transactions increased by 10.8% to RMB2,246.5 billion (US$307.8 billion) in 2024 from RMB2,028.0 billion in 2023.

      Among that, (i) commission revenue increased by 1.0% to RMB23.1 billion (US$3.2 billion) in 2024, from RMB22.9 billion in 2023, primarily attributable to the GTV of existing home transactions served by Lianjia stores increased by 8.4% to RMB918.5 billion (US$125.8 billion) in 2024 from RMB847.6 billion in 2023, mainly offset by a lower commission rate of existing home transaction services charged by Lianjia stores in Beijing; and

      (ii) revenues derived from platform service, franchise service and other value-added services, which are mostly charged to connected stores and agents on the Company’s platform were RMB5.1 billion (US$0.7 billion) in 2024, relatively flat compared with RMB5.1 billion in 2023, while the GTV of existing home transactions served by connected agents on the Company’s platform increased by 12.5% to RMB1,328.0 billion (US$181.9 billion) in 2024 from RMB1,180.4 billion in 2023. The increase was mainly offset by the decrease in revenues from certain value-added services which were not directly driven by GTV of existing home transactions served by connected agents.

    • Net revenues from new home transaction services increased by 10.1% to RMB33.7 billion (US$4.6 billion) in 2024 from RMB30.6 billion in 2023, primarily due to the improved monetization capability, which was partially offset by the decrease of GTV of new home transactions of 3.3% to RMB970.0 billion (US$132.9 billion) in 2024 from RMB1,003.0 billion in 2023. Among that, the GTV of new home transactions facilitated on Beike platform through connected agents, dedicated sales team with the expertise on new home transaction services and other sales channels decreased by 3.1% to RMB784.4 billion (US$107.5 billion) in 2024 from RMB809.9 billion in 2023, and the GTV of new home transactions served by Lianjia brand decreased by 3.9% to RMB185.6 billion (US$25.4 billion) in 2024 from RMB193.2 billion in 2023.
    • Net revenues from home renovation and furnishing increased by 36.1% to RMB14.8 billion (US$2.0 billion) in 2024 from RMB10.9 billion in 2023, primarily attributable to a) the increase of orders driven by the synergetic effects from customer acquisition and conversion between home transaction services and home renovation and furnishing business, b) a larger contribution from furniture and home furnishing sales in categories such as customized furniture, soft furnishings, and electrical appliances, and c) the shortened lead time driven by enhanced delivery capabilities.
    • Net revenues from home rental services increased by 135.0% to RMB14.3 billion (US$2.0 billion) in 2024 from RMB6.1 billion in 2023, primarily attributable to the increase of the number of rental units under the Carefree Rent model.
    • Net revenues from emerging and other services increased by 8.8% to RMB2.5 billion (US$0.3 billion) in 2024 from RMB2.3 billion in 2023, primarily attributable to the increase of net revenues from financial services.

    Cost of Revenues

    Total cost of revenues increased by 25.8% to RMB70.5 billion (US$9.7 billion) in 2024 from RMB56.1 billion in 2023.

    • Commission – split. The Company’s cost of revenues for commissions to connected agents and other sales channels increased by 11.5% to RMB22.8 billion (US$3.1 billion) in 2024 from RMB20.4 billion in 2023, primarily due to the increase in net revenues from new home transaction services derived from transactions facilitated through connected agents and other sales channels.
    • Commission and compensation – internal. The Company’s cost of revenues for internal commission and compensation increased by 11.1% to RMB18.9 billion (US$2.6 billion) in 2024 from RMB17.0 billion in 2023, primarily due to an increase in the net revenues from new home transactions derived from transactions facilitated through Lianjia agents and the increase in fixed compensation costs mainly driven by the increased number of Lianjia agents and improved benefits for them.
    • Cost of home renovation and furnishing. The Company’s cost of revenues for home renovation and furnishing increased by 32.8% to RMB10.2 billion (US$1.4 billion) in 2024 from RMB7.7 billion in 2023, which was in line with the growth of net revenues from home renovation and furnishing.
    • Cost of home rental services. The Company’s cost of revenues for home rental services increased by 121.0% to RMB13.6 billion (US$1.9 billion) in 2024 from RMB6.2 billion in 2023, primarily attributable to the growth of net revenues from home rental services.
    • Cost related to stores. The Company’s cost related to stores was RMB2.9 billion (US$0.4 billion) in 2024, relatively flat compared with RMB2.9 billion in 2023.
    • Other costs. The Company’s other costs increased by 13.6% to RMB2.1 billion (US$0.3 billion) in 2024 from RMB1.9 billion in 2023, mainly due to the increased tax and surcharges in line with the increased net revenues and an increase in provision and funding costs of financial services.

    Gross Profit

    Gross profit increased by 5.6% to RMB22.9 billion (US$3.1 billion) in 2024 from RMB21.7 billion in 2023. Gross margin was 24.6% in 2024, compared to 27.9% in 2023, primarily due to a) a lower contribution ratio of net revenues from existing home transaction services with a relatively higher margin than other revenue streams; and b) a lower contribution margin of existing home transaction services led by the increased fix compensation costs as percentage of net revenues from existing home transaction services.

    Income from Operations

    Total operating expenses increased by 13.3% to RMB19.2 billion (US$2.6 billion) in 2024 from RMB16.9 billion in 2023.

    • General and administrative expenses increased by 8.8% to RMB9.0 billion (US$1.2 billion) in 2024 from RMB8.2 billion in 2023, mainly due to the increase in personnel costs.
    • Sales and marketing expenses increased by 17.0% to RMB7.8 billion (US$1.1 billion) in 2024 from RMB6.7 billion in 2023, mainly due to the increase in sales and marketing expenses for home renovation and furnishing business.
    • Research and development expenses increased by 17.9% to RMB2.3 billion (US$0.3 billion) in 2024 from RMB1.9 billion in 2023, primarily due to the increased headcount of research and development personnel and the increased technical service costs.

    Income from operations was RMB3,765 million (US$516 million) in 2024, compared to RMB4,797 million in 2023. Operating margin was 4.0% in 2024, compared to 6.2% in 2023, primarily due to a lower gross margin partially offset by the improved operating leverage in 2024, compared to 2023.

    Adjusted income from operations was RMB6,890 million (US$944 million) in 2024, compared to RMB8.7 billion in 2023. Adjusted operating margin was 7.4% in 2024, compared to 11.2% in 2023. Adjusted EBITDA was RMB9,534 million (US$1,306 million) in 2024, compared to RMB11.3 billion in 2023.

    Net Income

    Net income was RMB4,078 million (US$559 million) in 2024, compared to RMB5,890 million in 2023.

    Adjusted net income was RMB7,211 million (US$988 million) in 2024, compared to RMB9,798 million in 2023.

    Net Income attributable to KE Holdings Inc.’s Ordinary Shareholders

    Net income attributable to KE Holdings Inc.’s ordinary shareholders was RMB4,065 million (US$557 million) in 2024, compared to RMB5,883 million in 2023.

    Adjusted net income attributable to KE Holdings Inc.’s ordinary shareholders12 was RMB7,198 million (US$986 million) in 2024, compared to RMB9,792 million in 2023.

    Net Income per ADS

    Basic and diluted net income per ADS attributable to KE Holdings Inc.’s ordinary shareholders13 were RMB3.58 (US$0.49) and RMB3.45 (US$0.47) in 2024, respectively, compared to RMB5.01 and RMB4.89 in 2023, respectively.

    Adjusted basic and diluted net income per ADS attributable to KE Holdings Inc.’s ordinary shareholders14 were RMB6.33 (US$0.87) and RMB6.10 (US$0.84) in 2024, respectively, compared to RMB8.34 and RMB8.13 in 2023, respectively.

    Share Repurchase Program

    As previously disclosed, the Company established a share repurchase program in August 2022 and upsized and extended it in August 2023 and August 2024, under which the Company may purchase up to US$3 billion of its Class A ordinary shares and/or ADSs until August 31, 2025, subject to obtaining another general unconditional mandate for the repurchase from the shareholders of the Company at the next annual general meeting to continue its share repurchase after the expiry of the existing share repurchase mandate granted by the annual general meeting held on June 14, 2024. As of December 31, 2024, the Company in aggregate has purchased approximately 109.1 million ADSs (representing approximately 327.4 million Class A ordinary shares) on the New York Stock Exchange with a total consideration of approximately US$1,625.4 million under this share repurchase program since its launch.

    Final Cash Dividend

    The Company is pleased to announce that its board of directors (the “Board”) has approved a final cash dividend (the “Dividend”) of US$0.12 per ordinary share, or US$0.36 per ADS, to holders of ordinary shares and holders of ADSs of record as of the close of business on April 9, 2025, Beijing/ Hong Kong Time and New York Time, respectively, payable in U.S. dollars. The aggregate amount of the Dividend to be paid will be approximately US$0.4 billion, which will be funded by cash surplus on the Company’s balance sheet.

    For holders of ordinary shares, in order to qualify for the Dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company’s Hong Kong share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong no later than 4:30 p.m. on April 9, 2025 (Beijing/Hong Kong Time). Dividend to be paid to the Company’s ADS holders through the depositary bank will be subject to the terms of the deposit agreement. The payment date is expected to be on or around April 22, 2025 for holders of ordinary shares, and on or around April 25, 2025 for holders of ADSs.

    Under the Company’s current dividend policy, the Board has discretion on whether to distribute dividends, subject to certain requirements of Cayman Islands law. In addition, the Company’s shareholders may by ordinary resolution declare a dividend, but no dividend may exceed the amount recommended by the Board. If the Company decides to pay dividends, the form, frequency and amount will be based upon its future operations and earnings, capital requirements and surplus, general financial condition, contractual restrictions and other factors that the Board may deem relevant.

    Conference Call Information

    The Company will hold an earnings conference call at 8:00 A.M. U.S. Eastern Time on Tuesday, March 18, 2025 (8:00 P.M. Beijing/Hong Kong Time on Tuesday, March 18, 2025) to discuss the financial results.

    For participants who wish to join the conference call using dial-in numbers, please complete online registration using the link provided below at least 20 minutes prior to the scheduled call start time. Dial-in numbers, passcode and unique access PIN would be provided upon registering.

    Participant Online Registration:

    English Line: https://s1.c-conf.com/diamondpass/10045435-su5md1.html

    Chinese Simultaneous Interpretation Line (listen-only mode): https://s1.c-conf.com/diamondpass/10045436-c4n72s.html

    A replay of the conference call will be accessible through March 25, 2025, by dialing the following numbers:

    United States: +1-855-883-1031
    Mainland, China: 400-1209-216
    Hong Kong, China: 800-930-639
    International: +61-7-3107-6325
    Replay PIN (English line): 10045435
    Replay PIN (Chinese simultaneous interpretation line): 10045436

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

    Exchange Rate

    This press release contains translations of certain RMB amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from RMB to US$ were made at the rate of RMB7.2993 to US$1.00, the noon buying rate in effect on December 31, 2024, in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the RMB or US$ amounts referred could be converted into US$ or RMB, as the case may be, at any particular rate or at all. For analytical presentation, all percentages are calculated using the numbers presented in the financial information contained in this earnings release.

    Non-GAAP Financial Measures

    The Company uses adjusted income (loss) from operations, adjusted net income (loss), adjusted net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders, adjusted operating margin, adjusted EBITDA and adjusted net income (loss) per ADS attributable to KE Holdings Inc.’s ordinary shareholders, each a non-GAAP financial measure, in evaluating its operating results and formulating its business plan. Beike believes that these non-GAAP financial measures help identify underlying trends in the Company’s business that could otherwise be distorted by the effect of certain expenses that the Company includes in its net income (loss). Beike also believes that these non-GAAP financial measures provide useful information about its results of operations, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by its management in formulating its business plan. A limitation of using these non-GAAP financial measures is that these non-GAAP financial measures exclude share-based compensation expenses that have been, and will continue to be for the foreseeable future, a significant recurring expense in the Company’s business.

    The presentation of these non-GAAP financial measures should not be considered in isolation or construed as an alternative to gross profit, net income (loss) or any other measure of performance or as an indicator of its operating performance. Investors are encouraged to review these non-GAAP financial measures and the reconciliation to the most directly comparable GAAP measures. The non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the Company’s data. Beike encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. Adjusted income (loss) from operations is defined as income (loss) from operations, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, and (iii) impairment of goodwill, intangible assets and other long-lived assets. Adjusted operating margin is defined as adjusted income (loss) from operations as a percentage of net revenues. Adjusted net income (loss) is defined as net income (loss), excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, (iii) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (iv) impairment of goodwill, intangible assets and other long-lived assets, (v) impairment of investments, and (vi) tax effects of the above non-GAAP adjustments. Adjusted net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders is defined as net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, (iii) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (iv) impairment of goodwill, intangible assets and other long-lived assets, (v) impairment of investments, (vi) tax effects of the above non-GAAP adjustments, and (vii) effects of non-GAAP adjustments on net income (loss) attributable to non-controlling interests shareholders. Adjusted EBITDA is defined as net income (loss), excluding (i) income tax expense, (ii) share-based compensation expenses, (iii) amortization of intangible assets, (iv) depreciation of property, plant and equipment, (v) interest income, net, (vi) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (vii) impairment of goodwill, intangible assets and other long-lived assets, and (viii) impairment of investments. Adjusted net income (loss) per ADS attributable to KE Holdings Inc.’s ordinary shareholders is defined as adjusted net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders divided by weighted average number of ADS outstanding during the periods used in calculating adjusted net income (loss) per ADS, basic and diluted.

    Please see the “Unaudited reconciliation of GAAP and non-GAAP results” included in this press release for a full reconciliation of each non-GAAP measure to its respective comparable GAAP measure.

    About KE Holdings Inc.

    KE Holdings Inc. is a leading integrated online and offline platform for housing transactions and services. The Company is a pioneer in building infrastructure and standards to reinvent how service providers and customers efficiently navigate and complete housing transactions and services in China, ranging from existing and new home sales, home rentals, to home renovation and furnishing, and other services. The Company owns and operates Lianjia, China’s leading real estate brokerage brand and an integral part of its Beike platform. With more than 23 years of operating experience through Lianjia since its inception in 2001, the Company believes the success and proven track record of Lianjia pave the way for it to build its infrastructure and standards and drive the rapid and sustainable growth of Beike.

    Safe Harbor Statement

    This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Among other things, the quotations from management in this press release, as well as Beike’s strategic and operational plans, contain forward-looking statements. Beike may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”) and 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 statements about KE Holdings Inc.’s beliefs, plans, 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, including but not limited to the following: Beike’s goals and strategies; Beike’s future business development, financial condition and results of operations; expected changes in the Company’s revenues, costs or expenditures; Beike’s ability to empower services and facilitate transactions on Beike platform; competition in the industry in which Beike operates; relevant government policies and regulations relating to the industry; Beike’s ability to protect the Company’s systems and infrastructures from cyber-attacks; Beike’s dependence on the integrity of brokerage brands, stores and agents on the Company’s platform; general economic and business conditions in China and globally; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in KE Holdings Inc.’s filings with the SEC and the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and KE Holdings Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    In China:
    KE Holdings Inc.
    Investor Relations
    Siting Li
    E-mail: ir@ke.com

    Piacente Financial Communications
    Jenny Cai
    Tel: +86-10-6508-0677
    E-mail: ke@tpg-ir.com

    In the United States:
    Piacente Financial Communications
    Brandi Piacente
    Tel: +1-212-481-2050
    Email: ke@tpg-ir.com

    Source: KE Holdings Inc.

    KE Holdings Inc.
    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
    (All amounts in thousands, except for share, per share data)
        As of
    December 31,
      As of
    December 31,
        2023   2024
        RMB   RMB   US$
                 
    ASSETS            
    Current assets            
    Cash and cash equivalents   19,634,716   11,442,965   1,567,680
    Restricted cash   6,222,745   8,858,449   1,213,603
    Short-term investments   34,257,958   41,317,700   5,660,502
    Financing receivables, net of allowance for credit losses of RMB122,482 and RMB147,330 as of December 31, 2023 and 2024, respectively   1,347,759   2,835,527   388,466
    Accounts receivable and contract assets, net of allowance for credit losses of RMB1,681,127 and RMB1,636,163 as of December 31, 2023 and 2024, respectively   3,176,169   5,497,989   753,221
    Amounts due from and prepayments to related parties   419,270   379,218   51,953
    Loan receivables from related parties   28,030   18,797   2,575
    Prepayments, receivables and other assets   4,666,976   6,252,700   856,615
    Total current assets   69,753,623   76,603,345   10,494,615
    Non-current assets            
    Property, plant and equipment, net   1,965,098   2,400,211   328,828
    Right-of-use assets   17,617,915   23,366,879   3,201,249
    Long-term investments, net   23,570,988   23,790,106   3,259,231
    Intangible assets, net   1,067,459   857,635   117,496
    Goodwill   4,856,807   4,777,420   654,504
    Long-term loan receivables from related parties   27,000   131,410   18,003
    Other non-current assets   1,473,041   1,222,277   167,451
    Total non-current assets   50,578,308   56,545,938   7,746,762
    TOTAL ASSETS   120,331,931   133,149,283   18,241,377
     
    KE Holdings Inc.
    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)
    (All amounts in thousands, except for share, per share data)
     
        As of
    December 31,
      As of
    December 31,
        2023   2024
        RMB   RMB   US$
                 
    LIABILITIES            
    Current liabilities            
    Accounts payable   6,328,516   9,492,629   1,300,485
    Amounts due to related parties   430,350   391,446   53,628
    Employee compensation and welfare payable   8,145,779   8,414,472   1,152,778
    Customer deposits payable   3,900,564   6,078,623   832,768
    Income taxes payable   698,568   1,028,735   140,936
    Short-term borrowings   290,450   288,280   39,494
    Lease liabilities current portion   9,368,607   13,729,701   1,880,961
    Contract liability and deferred revenue   4,665,201   6,051,867   829,102
    Accrued expenses and other current liabilities   5,695,948   7,268,505   995,782
    Total current liabilities   39,523,983   52,744,258   7,225,934
    Non-current liabilities            
    Deferred tax liabilities   279,341   317,697   43,524
    Lease liabilities non-current portion   8,327,113   8,636,770   1,183,233
    Other non-current liabilities   389   2,563   352
    Total non-current liabilities   8,606,843   8,957,030   1,227,109
    TOTAL LIABILITIES   48,130,826   61,701,288   8,453,043
    KE Holdings Inc.
    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Continued)
    (All amounts in thousands, except for share, per share data)
        As of
    December 31,
      As of
    December 31,
        2023     2024  
        RMB   RMB   US$
                 
    SHAREHOLDERS’ EQUITY            
    KE Holdings Inc. shareholders’ equity            
    Ordinary shares (US$0.00002 par value; 25,000,000,000 ordinary shares authorized, comprising of 24,114,698,720 Class A ordinary shares and 885,301,280 Class B ordinary shares. 3,571,960,220 Class A ordinary shares issued and 3,443,860,844 Class A ordinary shares outstanding(1)as of December 31, 2023; 3,479,616,986 Class A ordinary shares issued and 3,337,567,403 Class A ordinary shares outstanding(1)as of December 31, 2024; and 151,354,549 and 145,413,446 Class B ordinary shares issued and outstanding as of December 31, 2023 and 2024, respectively)   475     461     63  
    Treasury shares   (866,198 )   (949,410 )   (130,069 )
    Additional paid-in capital   77,583,054     72,460,562     9,927,056  
    Statutory reserves   811,107     926,972     126,995  
    Accumulated other comprehensive income   244,302     609,112     83,448  
    Accumulated deficit   (5,672,916 )   (1,723,881 )   (236,171 )
    Total KE Holdings Inc. shareholders’ equity   72,099,824     71,323,816     9,771,322  
    Non-controlling interests   101,281     124,179     17,012  
    TOTAL SHAREHOLDERS’ EQUITY   72,201,105     71,447,995     9,788,334  
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY   120,331,931     133,149,283     18,241,377  

    (1)  Excluding the Class A ordinary shares registered in the name of the depositary bank for future issuance of ADSs upon the exercise or vesting of awards granted under our share incentive plans and the Class A ordinary shares repurchased but not cancelled in the form of ADSs.

    KE Holdings Inc.
    UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

    (All amounts in thousands, except for share, per share data, ADS and per ADS data)


      For the Three Months Ended   For the Year Ended
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      RMB   RMB   US$   RMB   RMB   US$
                           
    Net revenues                      
    Existing home transaction services 6,049,963     8,922,030     1,222,313     27,954,135     28,201,003     3,863,522  
    New home transaction services 7,574,098     13,076,767     1,791,510     30,575,778     33,653,403     4,610,497  
    Home renovation and furnishing 3,640,928     4,106,834     562,634     10,850,497     14,768,947     2,023,337  
    Home rental services 2,194,485     4,580,502     627,526     6,099,747     14,334,479     1,963,816  
    Emerging and other services 744,752     438,974     60,139     2,296,775     2,499,666     342,453  
    Total net revenues 20,204,226     31,125,107     4,264,122     77,776,932     93,457,498     12,803,625  
    Cost of revenues                      
    Commission-split (5,073,602 )   (8,709,790 )   (1,193,236 )   (20,419,577 )   (22,766,957 )   (3,119,060 )
    Commission and compensation-internal (3,917,437 )   (6,456,881 )   (884,589 )   (17,015,927 )   (18,903,786 )   (2,589,808 )
    Cost of home renovation and furnishing (2,628,015 )   (2,884,614 )   (395,190 )   (7,705,325 )   (10,229,696 )   (1,401,463 )
    Cost of home rental services (2,166,138 )   (4,370,712 )   (598,785 )   (6,163,044 )   (13,619,506 )   (1,865,865 )
    Cost related to stores (727,054 )   (785,966 )   (107,677 )   (2,872,093 )   (2,854,988 )   (391,132 )
    Others (547,934 )   (746,958 )   (102,333 )   (1,882,952 )   (2,138,510 )   (292,973 )
    Total cost of revenues(1) (15,060,180 )   (23,954,921 )   (3,281,810 )   (56,058,918 )   (70,513,443 )   (9,660,301 )
    Gross profit 5,144,046     7,170,186     982,312     21,718,014     22,944,055     3,143,324  
    Operating expenses                      
    Sales and marketing expenses(1) (2,080,363 )   (2,344,000 )   (321,127 )   (6,654,178 )   (7,783,341 )   (1,066,313 )
    General and administrative expenses(1) (2,647,739 )   (2,961,294 )   (405,695 )   (8,236,569 )   (8,960,747 )   (1,227,617 )
    Research and development expenses(1) (533,620 )   (738,683 )   (101,199 )   (1,936,780 )   (2,283,424 )   (312,828 )
    Impairment of goodwill, intangible assets and other long-lived assets (55,441 )   (115,179 )   (15,779 )   (93,417 )   (151,576 )   (20,766 )
    Total operating expenses (5,317,163 )   (6,159,156 )   (843,800 )   (16,920,944 )   (19,179,088 )   (2,627,524 )
    Income (loss) from operations (173,117 )   1,011,030     138,512     4,797,070     3,764,967     515,800  
    Interest income, net 311,963     283,417     38,828     1,263,332     1,260,163     172,642  
    Share of results of equity investees (18,130 )   6,144     842     9,098     10,192     1,396  
    Impairment loss for equity investments accounted for equity method (4,187 )           (10,369 )        
    Fair value changes in investments, net 4,127     125,333     17,171     78,320     312,791     42,852  
    Impairment loss for equity investments accounted for using Measurement Alternative (16,605 )   (971 )   (133 )   (28,800 )   (9,408 )   (1,289 )
    Foreign currency exchange loss (174,459 )   (6,805 )   (932 )   (93,956 )   (34,674 )   (4,750 )
    Other income, net 832,103     192,069     26,313     1,869,300     1,566,038     214,546  
    Income before income tax expense 761,695     1,610,217     220,601     7,883,995     6,870,069     941,197  
    Income tax expense (91,632 )   (1,032,969 )   (141,516 )   (1,994,391 )   (2,791,889 )   (382,487 )
    Net income 670,063     577,248     79,085     5,889,604     4,078,180     558,710  
    KE Holdings Inc.
    UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Continued)

    (All amounts in thousands, except for share, per share data, ADS and per ADS data)

      For the Three Months Ended   For the Year Ended
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      RMB   RMB   US$   RMB   RMB   US$
                           
    Net income attributable to non-controlling interests shareholders (458 )   (7,256 )   (994 )   (6,380 )   (13,280 )   (1,819 )
    Net income attributable to KE Holdings Inc. 669,605     569,992     78,091     5,883,224     4,064,900     556,891  
    Net income attributable to KE Holdings Inc.’s ordinary shareholders 669,605     569,992     78,091     5,883,224     4,064,900     556,891  
                           
    Net income 670,063     577,248     79,085     5,889,604     4,078,180     558,710  
    Currency translation adjustments (138,522 )   348,802     47,786     574,223     217,142     29,748  
    Unrealized gains (losses) on available-for-sale investments, net of reclassification 133,067     (15,206 )   (2,083 )   82,800     147,668     20,230  
    Total comprehensive income 664,608     910,844     124,788     6,546,627     4,442,990     608,688  
    Comprehensive income attributable to non-controlling interests shareholders (458 )   (7,256 )   (994 )   (6,380 )   (13,280 )   (1,819 )
    Comprehensive income attributable to KE Holdings Inc. 664,150     903,588     123,794     6,540,247     4,429,710     606,869  
    Comprehensive income attributable to KE Holdings Inc.’s ordinary shareholders 664,150     903,588     123,794     6,540,247     4,429,710     606,869  
     
    For the Three Months Ended
      For the Year Ended
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      RMB   RMB   US$   RMB   RMB   US$
                           
    Weighted average number of ordinary shares used in computing net income per share, basic and diluted                      
    —Basic 3,449,700,565   3,356,948,233   3,356,948,233   3,521,379,938   3,409,772,592   3,409,772,592
    —Diluted 3,557,221,957   3,525,088,426   3,525,088,426   3,611,653,020   3,537,408,029   3,537,408,029
                           
    Weighted average number of ADS used in computing net income per ADS, basic and diluted                      
    —Basic 1,149,900,188   1,118,982,744   1,118,982,744   1,173,793,313   1,136,590,864   1,136,590,864
    —Diluted 1,185,740,652   1,175,029,475   1,175,029,475   1,203,884,340   1,179,136,010   1,179,136,010
                           
    Net income per share attributable to KE Holdings Inc.’s ordinary shareholders                      
    —Basic 0.19   0.17   0.02   1.67   1.19   0.16
    —Diluted 0.19   0.16   0.02   1.63   1.15   0.16
                           
    Net income per ADS attributable to KE Holdings Inc.’s ordinary shareholders                      
    —Basic 0.58   0.51   0.07   5.01   3.58   0.49
    —Diluted 0.56   0.49   0.07   4.89   3.45   0.47
                           
    (1) Includes share-based compensation expenses as follows:  
    Cost of revenues 138,967   135,358   18,544   502,523   521,293   71,417
    Sales and marketing expenses 51,347   53,410   7,317   180,465   197,320   27,033
    General and administrative expenses 580,363   360,801   49,430   2,345,895   1,821,817   249,588
    Research and development expenses 47,761   45,499   6,233   186,666   185,645   25,433
                           
    KE Holdings Inc.
    UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS

    (All amounts in thousands, except for share, per share data, ADS and per ADS data)

      For the Three Months Ended   For the Year Ended
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      RMB   RMB   US$   RMB   RMB   US$
                           
    Income (loss) from operations (173,117 )   1,011,030     138,512     4,797,070     3,764,967     515,800  
    Share-based compensation expenses 818,438     595,068     81,524     3,215,549     2,726,075     373,471  
    Amortization of intangible assets resulting from acquisitions and business cooperation agreement 155,039     33,695     4,616     613,307     247,862     33,957  
    Impairment of goodwill, intangible assets and other long-lived assets 55,441     115,179     15,779     93,417     151,576     20,766  
    Adjusted income from operations 855,801     1,754,972     240,431     8,719,343     6,890,480     943,994  
                           
    Net income 670,063     577,248     79,085     5,889,604     4,078,180     558,710  
    Share-based compensation expenses 818,438     595,068     81,524     3,215,549     2,726,075     373,471  
    Amortization of intangible assets resulting from acquisitions and business cooperation agreement 155,039     33,695     4,616     613,307     247,862     33,957  
    Changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration 546     27,960     3,831     (26,315 )   24,371     3,339  
    Impairment of goodwill, intangible assets and other long-lived assets 55,441     115,179     15,779     93,417     151,576     20,766  
    Impairment of investments 20,792     971     133     39,169     9,408     1,289  
    Tax effects on non-GAAP adjustments (6,561 )   (6,495 )   (890 )   (26,243 )   (26,399 )   (3,617 )
    Adjusted net income 1,713,758     1,343,626     184,078     9,798,488     7,211,073     987,915  
                           
    Net income 670,063     577,248     79,085     5,889,604     4,078,180     558,710  
    Income tax expense 91,632     1,032,969     141,516     1,994,391     2,791,889     382,487  
    Share-based compensation expenses 818,438     595,068     81,524     3,215,549     2,726,075     373,471  
    Amortization of intangible assets 158,339     38,041     5,212     627,146     268,684     36,810  
    Depreciation of property, plant and equipment 196,436     238,496     32,674     775,042     743,728     101,890  
    Interest income, net (311,963 )   (283,417 )   (38,828 )   (1,263,332 )   (1,260,163 )   (172,642 )
    Changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration 546     27,960     3,831     (26,315 )   24,371     3,339  
    Impairment of goodwill, intangible assets and other long-lived assets 55,441     115,179     15,779     93,417     151,576     20,766  
    Impairment of investments 20,792     971     133     39,169     9,408     1,289  
    Adjusted EBITDA 1,699,724     2,342,515     320,926     11,344,671     9,533,748     1,306,120  
                           
    Net income attributable to KE Holdings Inc.’s ordinary shareholders 669,605     569,992     78,091     5,883,224     4,064,900     556,891  
    Share-based compensation expenses 818,438     595,068     81,524     3,215,549     2,726,075     373,471  
    Amortization of intangible assets resulting from acquisitions and business cooperation agreement 155,039     33,695     4,616     613,307     247,862     33,957  
    Changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration 546     27,960     3,831     (26,315 )   24,371     3,339  
    Impairment of goodwill, intangible assets and other long-lived assets 55,441     115,179     15,779     93,417     151,576     20,766  
    Impairment of investments 20,792     971     133     39,169     9,408     1,289  
    Tax effects on non-GAAP adjustments (6,561 )   (6,495 )   (890 )   (26,243 )   (26,399 )   (3,617 )
    Effects of non-GAAP adjustments on net income attributable to non-controlling interests shareholders (7 )   (7 )   (1 )   (28 )   (28 )   (4 )
    Adjusted net income attributable to KE Holdings Inc.’s ordinary shareholders 1,713,293     1,336,363     183,083     9,792,080     7,197,765     986,092  
    KE Holdings Inc.
    UNAUDITED RECONCILIATION OF GAAP AND NON-GAAP RESULTS (Continued)

    (All amounts in thousands, except for share, per share data, ADS and per ADS data)

      For the Three Months Ended   For the Year Ended
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      RMB   RMB   US$   RMB   RMB   US$
                           
    Weighted average number of ADS used in computing net income per ADS, basic and diluted                      
    —Basic 1,149,900,188   1,118,982,744   1,118,982,744   1,173,793,313   1,136,590,864   1,136,590,864
    —Diluted 1,185,740,652   1,175,029,475   1,175,029,475   1,203,884,340   1,179,136,010   1,179,136,010
                           
    Weighted average number of ADS used in calculating adjusted net income per ADS, basic and diluted                      
    —Basic 1,149,900,188   1,118,982,744   1,118,982,744   1,173,793,313   1,136,590,864   1,136,590,864
    —Diluted 1,185,740,652   1,175,029,475   1,175,029,475   1,203,884,340   1,179,136,010   1,179,136,010
                           
    Net income per ADS attributable to KE Holdings Inc.’s ordinary shareholders                      
    —Basic 0.58   0.51   0.07   5.01   3.58   0.49
    —Diluted 0.56   0.49   0.07   4.89   3.45   0.47
                           
    Non-GAAP adjustments to net income per ADS attributable to KE Holdings Inc.’s ordinary shareholders                      
    —Basic 0.91   0.68   0.09   3.33   2.75   0.38
    —Diluted 0.88   0.65   0.09   3.24   2.65   0.37
                           
    Adjusted net income per ADS attributable to KE Holdings Inc.’s ordinary shareholders                      
    —Basic 1.49   1.19   0.16   8.34   6.33   0.87
    —Diluted 1.44   1.14   0.16   8.13   6.10   0.84
                           
    KE Holdings Inc.
    UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

    (All amounts in thousands)   

      For the Three Months Ended   For the Year Ended
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      RMB   RMB   US$   RMB   RMB   US$
                           
    Net cash provided by operating activities 1,767,804     5,202,518     712,740     11,414,244     9,447,137     1,294,255  
    Net cash provided by (used in) investing activities 3,712,203     (2,015,584 )   (276,133 )   (3,977,440 )   (9,378,025 )   (1,284,784 )
    Net cash provided by (used in) financing activities (1,475,585 )   1,109,860     152,050     (7,218,210 )   (5,794,635 )   (793,862 )
    Effect of exchange rate change on cash, cash equivalents and restricted cash (142,337 )   184,196     25,237     44,608     169,476     23,216  
    Net increase (decrease) in cash and cash equivalents and restricted cash 3,862,085     4,480,990     613,894     263,202     (5,556,047 )   (761,175 )
    Cash, cash equivalents and restricted cash at the beginning of the period 21,995,376     15,820,424     2,167,389     25,594,259     25,857,461     3,542,458  
    Cash, cash equivalents and restricted cash at the end of the period 25,857,461     20,301,414     2,781,283     25,857,461     20,301,414     2,781,283  
    KE Holdings Inc.
    UNAUDITED SEGMENT CONTRIBUTION MEASURE

    (All amounts in thousands)                 

        For the Three Months Ended   For the Year Ended
        December 31,
    2023
      December 31,
    2024
      December 31,
    2024
      December 31,
    2023
      December 31,
    2024
      December 31,
    2024
        RMB   RMB   US$   RMB   RMB   US$
    Existing home transaction services                        
    Net revenues   6,049,963     8,922,030     1,222,313     27,954,135     28,201,003     3,863,522  
    Less: Commission and compensation   (3,355,714 )   (5,315,541 )   (728,226 )   (14,762,910 )   (16,016,079 )   (2,194,194 )
    Contribution   2,694,249     3,606,489     494,087     13,191,225     12,184,924     1,669,328  
    New home transaction services                        
    Net revenues   7,574,098     13,076,767     1,791,510     30,575,778     33,653,403     4,610,497  
    Less: Commission and compensation   (5,574,423 )   (9,723,154 )   (1,332,067 )   (22,455,253 )   (25,304,481 )   (3,466,700 )
    Contribution   1,999,675     3,353,613     459,443     8,120,525     8,348,922     1,143,797  
    Home renovation and furnishing                        
    Net revenues   3,640,928     4,106,834     562,634     10,850,497     14,768,947     2,023,337  
    Less: Material costs, commission and compensation   (2,628,015 )   (2,884,614 )   (395,190 )   (7,705,325 )   (10,229,696 )   (1,401,463 )
    Contribution   1,012,913     1,222,220     167,444     3,145,172     4,539,251     621,874  
    Home rental services                        
    Net revenues   2,194,485     4,580,502     627,526     6,099,747     14,334,479     1,963,816  
    Less: Property leasing costs, commission and compensation   (2,166,138 )   (4,370,712 )   (598,785 )   (6,163,044 )   (13,619,506 )   (1,865,865 )
    (Deficit)/Contribution   28,347     209,790     28,741     (63,297 )   714,973     97,951  
    Emerging and other services                        
    Net revenues   744,752     438,974     60,139     2,296,775     2,499,666     342,453  
    Less: Commission and compensation   (60,902 )   (127,976 )   (17,532 )   (217,341 )   (350,183 )   (47,974 )
    Contribution   683,850     310,998     42,607     2,079,434     2,149,483     294,479  

    1 GTV for a given period is calculated as the total value of all transactions which the Company facilitated on the Company’s platform and evidenced by signed contracts as of the end of the period, including the value of the existing home transactions, new home transactions, home renovation and furnishing and emerging and other services (excluding home rental services), and including transactions that are contracted but pending closing at the end of the relevant period. For the avoidance of doubt, for transactions that failed to close afterwards, the corresponding GTV represented by these transactions will be deducted accordingly.
    2 Adjusted net income (loss) is a non-GAAP financial measure, which is defined as net income (loss), excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, (iii) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (iv) impairment of goodwill, intangible assets and other long-lived assets, (v) impairment of investments, and (vi) tax effects of the above non-GAAP adjustments. Please refer to the section titled “Unaudited reconciliation of GAAP and non-GAAP results” for details.
    3 Based on our accumulated operational experience, we have introduced the operating metrics of number of active stores and number of active agents on our platform, which can better reflect the operational activeness of stores and agents on our platform.
    “Active stores” as of a given date is defined as stores on our platform excluding the stores which (i) have not facilitated any housing transaction during the preceding 60 days, (ii) do not have any agent who has engaged in any critical steps in housing transactions (including but not limited to introducing new properties, attracting new customers and conducting property showings) during the preceding seven days, or (iii) have not been visited by any agent during the preceding 14 days. The number of active stores was 42,021 as of December 31, 2023.
    4 “Active agents” as of a given date is defined as agents on our platform excluding the agents who (i) delivered notice to leave but have not yet completed the exit procedures, (ii) have not engaged in any critical steps in housing transactions (including but not limited to introducing new properties, attracting new customers and conducting property showings) during the preceding 30 days, or (iii) have not participated in facilitating any housing transaction during the preceding three months. The number of active agents was 397,135 as of December 31, 2023.
    5 “Mobile monthly active users” or “mobile MAU” are to the sum of (i) the number of accounts that have accessed our platform through our Beike or Lianjia mobile app (with duplication eliminated) at least once during a month, and (ii) the number of Weixin users that have accessed our platform through our Weixin Mini Programs at least once during a month. Average mobile MAU for any period is calculated by dividing (i) the sum of the Company’s mobile MAUs for each month of such period, by (ii) the number of months in such period.
    6 Adjusted income (loss) from operations is a non-GAAP financial measure, which is defined as income (loss) from operations, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, and (iii) impairment of goodwill, intangible assets and other long-lived assets. Please refer to the section titled “Unaudited reconciliation of GAAP and non-GAAP results” for details.
    7 Adjusted operating margin is adjusted income (loss) from operations as a percentage of net revenues.
    8 Adjusted EBITDA is a non-GAAP financial measure, which is defined as net income (loss), excluding (i) income tax expense, (ii) share-based compensation expenses, (iii) amortization of intangible assets, (iv) depreciation of property, plant and equipment, (v) interest income, net, (vi) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (vii) impairment of goodwill, intangible assets and other long-lived assets,and (viii) impairment of investments. Please refer to the section titled “Unaudited reconciliation of GAAP and non-GAAP results” for details.
    9 Adjusted net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders is a non-GAAP financial measure and defined as net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, (iii) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (iv) impairment of goodwill, intangible assets and other long-lived assets, (v) impairment of investments, (vi) tax effects of the above non-GAAP adjustments, and (vii) effects of non-GAAP adjustments on net income (loss) attributable to non-controlling interests shareholders. Please refer to the section titled “Unaudited reconciliation of GAAP and non-GAAP results” for details.
    10 ADS refers to American Depositary Share. Each ADS represents three Class A ordinary shares of the Company. Net income (loss) per ADS attributable to KE Holdings Inc.’s ordinary shareholders is net income (loss) attributable to ordinary shareholders divided by weighted average number of ADS outstanding during the periods used in calculating net income (loss) per ADS, basic and diluted.
    11 Adjusted net income (loss) per ADS attributable to KE Holdings Inc.’s ordinary shareholders is a non-GAAP financial measure, which is defined as adjusted net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders divided by weighted average number of ADS outstanding during the periods used in calculating adjusted net income (loss) per ADS, basic and diluted. Please refer to the section titled “Unaudited reconciliation of GAAP and non-GAAP results” for details.
    12 Adjusted net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders is a non-GAAP financial measure and defined as net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders, excluding (i) share-based compensation expenses, (ii) amortization of intangible assets resulting from acquisitions and business cooperation agreement, (iii) changes in fair value from long-term investments, loan receivables measured at fair value and contingent consideration, (iv) impairment of goodwill, intangible assets and other long-lived assets, (v) impairment of investments, (vi) tax effects of the above non-GAAP adjustments, and (vii) effects of non-GAAP adjustments on net income (loss) attributable to non-controlling interests shareholders. Please refer to the section titled “Unaudited reconciliation of GAAP and non-GAAP results” for details.
    13 ADS refers to American Depositary Share. Each ADS represents three Class A ordinary shares of the Company. Net income (loss) per ADS attributable to KE Holdings Inc.’s ordinary shareholders is net income (loss) attributable to ordinary shareholders divided by weighted average number of ADS outstanding during the periods used in calculating net income (loss) per ADS, basic and diluted.
    14 Adjusted net income (loss) per ADS attributable to KE Holdings Inc.’s ordinary shareholders is a non-GAAP financial measure, which is defined as adjusted net income (loss) attributable to KE Holdings Inc.’s ordinary shareholders divided by weighted average number of ADS outstanding during the periods used in calculating adjusted net income (loss) per ADS, basic and diluted. Please refer to the section titled “Unaudited reconciliation of GAAP and non-GAAP results” for details.

    The MIL Network

  • MIL-Evening Report: View from The Hill: Dutton’s talk about a citizenship referendum is personal over-reach and political folly

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Peter Dutton, when he gets on his favoured ground of security, too often goes for the quick hit, and frequently over-reaches.

    His suggestion of running a possible referendum to facilitate the removal of bad eggs who are dual citizens is a prime example.

    Apart from the substance of the proposal, why would an aspiring prime minister be talking about a referendum after the experience of the Voice?

    As Dutton knows very well – and to his advantage in that case – referendums don’t succeed without bipartisan support, and this one certainly wouldn’t get backing from a Labor opposition. They cost a fortune, and they distract prime ministers. Dutton would have enough to do in government without going down this side track to a predictable dead end.

    Although this focus on booting people out of the country sounds Trumpian, it has long been a preoccupation of Dutton’s – something he pushed in the Coalition years.

    The Coalition amended the Citizenship Act, enabling a minister to revoke the Australian citizenship of dual nationals (so depriving them of the protection from removal that citizenship affords).

    But the High Court in 2022 struck this down, so a minister has to apply to a court in the course of a trial relating to a listed offence. The court makes the decision on citizenship as part of sentencing the person.

    Fast forward to the present, and Dutton sees advantage in any issues that go to security, of individuals or the country. Hence his talk of attempted constitutional change if the objective can’t be achieved by legislation.

    On morning TV on Tuesday he kept repeating that he wanted to keep people safe.

    He told Seven, “I want to keep our country safe […] it’s the first responsibility of any prime minister, and at the moment we’ve got people in our country who hate our country, who want to cause terrorist attacks. My argument is that if you betray your allegiance to our country in that way, you should expect to lose your citizenship.”

    “What we’re proposing here is a discussion about whether we’ve got adequate laws, whether the Constitution is restrictive, and ultimately, what I want to do is keep our country safe and keep communities safe. I think there are a lot of Australians at the moment who are worried about the rise of antisemitism and what we’ve seen in our country, and elsewhere, which just doesn’t reflect the values that we’ve fought for over many generations.”

    Apart from the fact a referendum would fail, the proposal itself has no obvious benefit. It is out of proportion to the problem it is supposed to be addressing, would be unlikely to act as a deterrent, and would stir a divisive debate. On Tuesday Dutton’s senior colleagues Michaelia Cash, who is shadow attorney-general, and Angus Taylor sounded less then enthusiastic about the move.

    For Dutton’s campaign, it carries a special danger. It gives the impression of a leader who comes up with extreme proposals. If he is suggesting this today, what will be think of tomorrow? More to the point, what might he suddenly propose when in government?

    This close to an election, Dutton needs to give voters the feeling he is predictable, that they know him, not that he produces ideas out of left field (or right field, in this case).

    Former Liberal attorney-general George Brandis, who was around for the earlier debate, summed up the situation succinctly, when he wrote in the Nine papers, “An unwanted referendum, without bipartisan support, to overturn the High Court? It is as mad an idea as I have heard in a long time.”

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

    ref. View from The Hill: Dutton’s talk about a citizenship referendum is personal over-reach and political folly – https://theconversation.com/view-from-the-hill-duttons-talk-about-a-citizenship-referendum-is-personal-over-reach-and-political-folly-252512

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI Asia-Pac: President Lai meets Commander-in-Chief of US Veterans of Foreign Wars Alfred Lipphardt  

    Source: Republic of China Taiwan

    Details
    2025-02-17
    President Lai meets former United States Deputy National Security Advisor Matthew Pottinger
    On the morning of February 17, President Lai Ching-te met with a delegation led by former United States Deputy National Security Advisor Matthew Pottinger. In remarks, President Lai thanked the delegation for demonstrating staunch support for Taiwan through their visit. The president pointed out that increased cooperation between authoritarian regimes is posing risks and challenges to the geopolitical landscape and regional security. He emphasized that only by bolstering our defense capabilities can we demonstrate effective deterrence and maintain peace and stability across the Taiwan Strait and around the world. The president stated that moving forward, Taiwan will continue to enhance its self-defense capabilities. He also expressed hope of strengthening the Taiwan-US partnership and jointly building secure and resilient non-red supply chains so as to ensure that Taiwan, the US, and democratic partners around the world maintain a technological lead. A translation of President Lai’s remarks follows: I am delighted to welcome our good friends Mr. Pottinger and retired US Rear Admiral Mr. Mark Montgomery to Taiwan once again. Last June, Mr. Pottinger and Mr. Ivan Kanapathy came to Taiwan to launch their new book The Boiling Moat. During that visit, they also visited the Presidential Office. We held an extensive exchange of views on Taiwan-US relations and regional affairs right here in the Taiwan Heritage Room. Now, as we meet again eight months later, I am pleased to learn that Mr. Kanapathy is now serving on the White House National Security Council. The Mandarin translation of The Boiling Moat is also due to be released in Taiwan very soon. This book offers insightful observations from US experts regarding US-China-Taiwan relations and valuable advice for the strengthening of Taiwan’s national defense, security, and overall resilience. I am sure that Taiwanese readers will benefit greatly from it. I understand that this is Mr. Montgomery’s fourth visit to Taiwan and that he has long paid close attention to Taiwan-related issues. I look forward to an in-depth discussion with our two friends on the future direction of Taiwan-US relations and cooperation. Increased cooperation between authoritarian regimes is posing risks and challenges to the geopolitical landscape and regional security. One notion we all share is peace through strength. That is, only by bolstering our defense capabilities and fortifying our defenses can we demonstrate effective deterrence and maintain peace and stability across the Taiwan Strait and around the world. Moving forward, Taiwan will continue to enhance its self-defense capabilities. We also hope to strengthen the Taiwan-US partnership in such fields as security, trade and the economy, and energy. In addition, we will advance cooperation in critical and innovative technologies and jointly build secure and resilient non-red supply chains. This will ensure that Taiwan, the US, and democratic partners around the world maintain a technological lead. We believe that closer Taiwan-US exchanges and cooperation not only benefit national security and development but also align with the common economic interests of Taiwan and the US. I want to thank Mr. Pottinger and Mr. Montgomery once again for visiting and for continuing to advance Taiwan-US exchanges, demonstrating staunch support for Taiwan. Let us continue to work together to deepen Taiwan-US relations. I wish you a smooth and fruitful visit.  Mr. Pottinger then delivered remarks, first congratulating President Lai on his one-year election anniversary and on the state of the economy, which, he added, is doing quite well. Mentioning President Lai’s recent statement pledging to increase Taiwan’s defense budget to above 3 percent of GDP, Mr. Pottinger said he thinks that the benchmark is equal to what the US spends on its defense and that it is a good starting point for both countries to build deterrence. Echoing the president’s earlier remarks, Mr. Pottinger said that peace through strength is the right path for the US and for Taiwan right now at a moment when autocratic, aggressive governments are on the march. He then paraphrased the words of former US President George Washington in his first inaugural address, saying that the best way to keep the peace is to be prepared at all times for war, which captures the meaning of peace through strength. In closing, he said he looks forward to exchanging views with President Lai.

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    2024-12-26
    President Lai presides over second meeting of Whole-of-Society Defense Resilience Committee
    On the afternoon of December 26, President Lai Ching-te presided over the second meeting of the Whole-of-Society Defense Resilience Committee. President Lai stated that the committee’s goal is to enhance overall resilience in terms of national defense, economic livelihoods, disaster prevention, and democracy through five key areas: civilian force training and utilization, strategic material preparation and critical supply distribution, energy and critical infrastructure operations and maintenance, social welfare, medical care, and evacuation facility readiness, and information, transportation, and financial network protection. That morning, he said, was the first time that central and local government officials, as well as civilian observers, gathered at the Presidential Office to conduct cross-disciplinary tabletop exercises, demonstrating cooperation between central and local governments to jointly enhance social resilience. President Lai also announced that the existing Wan An and Min An Exercises, which are air raid drills and disaster response drills, respectively, beginning from next year will be combined into the 2025 Urban Resilience Exercises, the nomenclature of which matches up with that of similar exercises carried out overseas. The exercises, he said, will strengthen the defensive mechanisms of the non-military sector, and verify the ability of civil defense and disaster preparedness systems to protect our nation’s people. The president emphasized that combining government and private-sector forces is the only way to strengthen Taiwan’s overall defense capabilities, jointly consolidate global democratic resilience, and maintain regional peace and stability. A translation of President Lai’s opening statement follows: Today, we are convening the second meeting of the Whole-of-Society Defense Resilience Committee, implementing the conclusions reached at the last meeting, conducting tabletop exercises, and verifying the preparedness of government agencies to address extreme situations. Looking back over the past year, circumstances at home and abroad have changed rapidly. Authoritarian states around the world continue to converge, threatening the rules-based international order, and they now present a collective challenge to the peace and stability of the entire first island chain. To address threats, whether natural disasters or ambitions for authoritarian expansion, we believe that as long as the government and all of society are prepared, we can respond. With determination, there is no need to worry. With confidence, our people can rest assured. This is the goal of whole-of-society defense resilience. Of course, these preparations are not easy. Taiwan’s society must race against time, and work together to build capabilities to respond to major disasters and threats, and deter enemy encroachment. Therefore, the goal of this committee is to formulate action plans through the five key areas: civilian force training and utilization, strategic material preparation and critical supply distribution, energy and critical infrastructure operations and maintenance, social welfare, medical care, and evacuation facility readiness, and information, transportation, and financial network protection, thereby verifying central and local government capacities to respond in times of disaster, and enhance overall resilience in terms of national defense, economic livelihoods, disaster prevention, and democracy. This morning at the Presidential Office, we conducted the first-ever cross-disciplinary tabletop exercises involving central and local government officials as well as civilian observers. Participating teams from central government departments were all led by deputy ministers, Tainan City Deputy Mayor Yeh Tse-shan (葉澤山) led a team, and Tainan Mayor Huang Wei-che (黃偉哲) also came to participate, demonstrating cooperation between central and local governments to jointly enhance social resilience. The exercises were based on Taiwan’s mature disaster prevention and relief system’s response to comprehensive threats. We had scenarios, but no scripts, so the participating units did not prepare notes in advance, but reacted on the spot. When presented with a problem, they proposed countermeasures, which is closer to a real crisis situation. To address the continued threat of authoritarian expansion to regional stability and order, in the first scenario we simulated that a high-intensity gray-zone operation occurred; for the second scenario, we simulated a state of being on the verge of conflict. The most important core objectives of the exercises were to ensure that people could carry on their daily lives and that society could function normally. I would like to thank our three deputy conveners for serving as exercise commanders, Minister of the Interior Liu Shyh-fang (劉世芳) and Minister without Portfolio of the Executive Yuan Chi Lien-cheng (季連成) for serving as deputy exercise commanders, and Deputy Secretary-General to the President Chang Tun-han (張惇涵) as well as National Security Council Deputy Secretary-General Lin Fei-fan (林飛帆) for serving as chief officials. I also want to thank all our advisors, committee members, and colleagues from government agencies at both the central and local levels for coming together to complete tabletop exercises aimed at testing out components of the five key areas. After conducting numerous exercises in the past, many government agencies improved their emergency response capabilities, and I want to recognize those achievements. However, I also want to emphasize that we must identify problems in our current systems, and then make improvements. Whether it be the central or the local level, we cannot just talk about the good things and sweep the unpleasant things under the rug. We have to rigorously ascertain numbers and make sure just how accurate the sources of our information are, because it is always a good thing when we discover problems in our exercises, and find places where improvements are needed. This means that our testing has achieved its purpose, and that there is much room for progress and improvement. I also want to report to you all that, over the past few years, due to the global pandemic and Russia’s invasion of Ukraine, countries throughout the world have been bolstering their defense resilience. NATO and the European Union, for example, have both adopted guidelines aimed at strengthening whole-of-society resilience. This shows that Taiwan is not a special case. The task of whole-of-society defense resilience is being addressed throughout the world. Taiwan’s ongoing efforts to strengthen its whole-of-society defense resilience is something the international community at large is wanting to see. This month I visited the Republic of the Marshall Islands, Tuvalu, and the Republic of Palau, all of which are Pacific allies of Taiwan, and I made transit stops in the United States islands of Hawaii and Guam. Friends in each of these places expressed firm support for Taiwan and repeatedly said they hope for peace and stability in the Taiwan Strait. We must continue taking action to respond to the international community’s support. Taiwan must have the capability to defend its own security. As president, I want to take this opportunity to emphasize to the international community that Taiwan is determined to defend regional peace and stability. We will accelerate the pace of efforts to build a more resilient Taiwan. I therefore wish to announce that our existing Wan An and Min An Exercises, which are air raid drills and disaster response drills, respectively, beginning from next year will be combined, and we will hold the 2025 Urban Resilience Exercises. This new nomenclature matches up with that of similar exercises carried out overseas, making it easier for others to understand the efforts that Taiwan is putting forth. In addition, the 2025 Urban Resilience Exercises will feature absolutely no reliance on military support, and will have a design that takes the latest international experiences into account. These resilience exercises will be distinct from the Han Kuang military exercises, and yet complementary at the same time. In other words, whole-of-society defense resilience must particularly strengthen the defensive mechanisms of the non-military sector, and must verify the ability of civil defense and disaster preparedness systems to protect our nation’s people. I want to emphasize once again that the more resilient we make Taiwan, like-minded nations around the world will be more willing to coordinate with us in responding to various challenges together. I realize that to defend democracy, we must gather together every bit of strength we have. The task of promoting whole-of-society defense resilience is a massive undertaking. The public sector must adopt a more open-minded attitude and be willing to tap into private-sector human resources, because combining government and private-sector forces is the only way to jointly respond to challenges arising under extreme conditions, and is the only way to strengthen Taiwan’s overall defense capabilities, jointly consolidate global democratic resilience, and maintain regional peace and stability. In just a few moments, Minister Liu will deliver a report on the progress of certain items listed in the first committee meeting, and Deputy Secretary-General Lin will deliver a report on the outcomes of the tabletop exercises held this morning. Next, let us engage in open discussions and examine and verify each component of the tabletop exercises, so that together we can improve whole-of-society defense resilience, make Taiwan more secure, and make the region more stable. Thank you. After listening to the report on the progress of certain items listed in the first committee meeting and the report on the outcomes of the tabletop exercises, President Lai exchanged views with the committee members regarding the content of the reports.123

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    2024-11-30
    Presidential Office thanks Biden administration for announcing its 18th military sale to Taiwan
    On November 29 (US EST), the United States government announced that it had notified Congress of the sale to Taiwan of two military packages: a US$320 million sale of spare parts and support for F-16 aircraft and Active Electronically Scanned Array radar spare parts and support; and a US$65 million sale of Improved Mobile Subscriber Equipment Follow-on Support and related equipment. Presidential Office Spokesperson Karen Kuo (郭雅慧) stated that the Presidential Office is sincerely grateful to the US government for its unwavering commitment to continue to strengthen the cooperative partnership between Taiwan and the US and support Taiwan in enhancing self-defense capabilities in accordance with the Taiwan Relations Act and the Six Assurances.  Spokesperson Kuo stated that this marks the 18th military sale to Taiwan announced during the Biden administration since 2021, emphasizing that the deepening Taiwan-US security partnership is a critical cornerstone for peace and stability in the Indo-Pacific region. The spokesperson said that in the face of mounting security challenges in the region, Taiwan will continue to enhance self-defense capabilities and work alongside like-minded countries to jointly defend the values of freedom and democracy and ensure the peace and stability of the Indo-Pacific region.

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    2024-10-26
    Presidential Office thanks Biden administration for announcing its 17th military sale to Taiwan
    On October 25 (US EST), the United States government announced that it had notified Congress of the US$1.988 billion sale to Taiwan of three military packages, including the National Advanced Surface-to-Air Missile System as well as L-band and non-L-band radar turnkey systems. Presidential Office Spokesperson Karen Kuo (郭雅慧) on October 26 stated that strengthening Taiwan’s self-defense capabilities is the foundation for maintaining regional stability. The spokesperson said that the Presidential Office is grateful to the US government for continuing to provide Taiwan with the weaponry it needs in accordance with the Taiwan Relations Act and the Six Assurances. Spokesperson Kuo stated that this marks the 17th military sale to Taiwan announced during the Biden administration since 2021, as well as the largest single military sale since President Biden took office, demonstrating the unwavering commitment of the US government to the security of Taiwan. She emphasized that Taiwan will continue to strengthen its self-defense capabilities as it works to maintain the rules-based international order, ensuring the peace, stability, and prosperity of the Indo-Pacific region.

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    2024-09-26
    President Lai presides over first meeting of Whole-of-Society Defense Resilience Committee
    On the afternoon of September 26, President Lai Ching-te presided over the first meeting of the Whole-of-Society Defense Resilience Committee. As the committee’s convener, the president presented committee members with their letters of appointment, and explained that in order to build up our whole-of-society defense resilience, we will actively engage in comprehensive preparation to make our nation stronger and our people more confident. The president stated that we will enhance Taiwan’s response capabilities and expand cooperation between the public and private sectors. He stated that he looks forward to working together with everyone to establish a platform through which we can communicate and coordinate on our national resilience strategy, fostering a national consensus, and strengthening resilience throughout Taiwan in national defense, economic livelihoods, disaster prevention, and democracy. President Lai stated that a more resilient Taiwan will contribute more to global democracy, peace, and prosperity. He emphasized that as our society becomes better prepared, our nation grows more secure; and as Taiwan shows more determination to defend itself, the international community will feel more at ease. He expressed hope that we will engage in wide-ranging discussions and build a fortress of unity, making Taiwan a cornerstone for ensuring regional stability and democratic sustainability. A translation of President Lai’s opening statement follows: In order to consolidate forces from various sectors to strategize on national development, at the end of my first month in office, I announced that the Presidential Office will establish three committees in response to three major global issues: climate change, health promotion, and social resilience. Last month we convened the first meetings for two of those committees – the National Climate Change Committee and the Healthy Taiwan Promotion Committee. Today, we are convening the first meeting for the Whole-of-Society Defense Resilience Committee. I want to thank our three deputy conveners and all advisors and committee members for their joint commitment. I also want to thank our fellow citizens and friends for following the committee’s proceedings online. Climate change, large-scale natural disasters, and the threat to democracy posed by expanding authoritarianism are all challenges not just for Taiwan, but for the entire world. The operations and goals of these three committees are interrelated, and they are closely connected by the issue of national resilience. We intend to build up a more resilient Taiwan, proactively deal with challenges, and bring Taiwan into deeper cooperation with the international community. When former President Tsai Ing-wen was in office, the government took stock of resources in the public and private sectors in order to lay a solid foundation on which to build up our social resilience. Now, we will continue forward, from stocktaking to validation. This will entail three principles for whole-of-society defense resilience. The first principle is “preparedness through vigilance.” We will actively engage in comprehensive preparation to make our nation stronger and our people more confident. That way, in a disaster or emergency, the government and the public can quickly leverage their respective strengths and maintain the normal operation of society. The second principle is “enhanced response, fearlessness in action.” We will expand the training and utilization of civilian forces, enhance our strategic material preparation and critical supply distribution, and reinforce the operations and maintenance of energy and critical infrastructure. We will also improve the readiness of our social welfare, medical care, and evacuation facilities, and ensure the protection of information, transportation, and financial networks. All of this will enhance Taiwan’s response capabilities. The third principle is “orderly execution, methodical action.” At all levels of government, from central to local, we will conduct extensive validation and drilling, and we will expand connections with civil society groups and societal forces so that we can all work together, in a systematic and professional manner, to identify problems, propose solutions, and follow through with implementation. This is how we will resolve problems. The work involved in whole-of-society defense resilience is diverse and complex. Accordingly, this committee needs members from the public and private sectors who can work together in coordination. The members must be guided by practical experience, have interdisciplinary expertise, span different generations, and constitute a balance between the genders. These were the factors we took into consideration when we invited representatives from industry, government agencies, academia, and research institutions to serve as the four advisors and 23 members who make up this committee. Of the total committee membership, 67.7 percent are not government officials, and 32.3 percent are women.  First, I want to thank the committee advisors who have taken on that important responsibility. With us today we have Master Jing Yao (淨耀) of the Buddhist Association of the Republic of China; Huoh Shoou-yeh (霍守業), chairman of the Institute for National Defense and Security Research; and Lin Ming-hsiung (林敏雄), chairman of Chuan Lian Enterprise Co. I thank each of you for your participation, and look forward to seeing you provide the committee with broadly considered, professional views on such matters as civilian force preparedness, strategic frameworks, and supply distribution. I also want to introduce committee members who are here today. We have with us Wang Pao-tzong (王寶宗), chairman of the Holy Glory Temple; Chen Hsin-liang (陳信良), general secretary of the General Assembly Executive Committee of the Presbyterian Church in Taiwan; and Yen Po-wen (顏博文), CEO of the Tzu Chi Charity Foundation. I thank you all for your commitment and for giving us all the opportunity to learn how religious groups engage in disaster preparedness and relief efforts. Let me also thank James Liao (廖英熙), president of the National Defense Education Association; Enoch Wu (吳怡農), founder of the Forward Alliance; Hsiau Ya-wen (蕭雅文), honorary chairperson of the Taiwan Development Association for Disaster Medical Team; Liu Wen (劉文), chairperson of the Kuma Civil Defense Education Association; and Tseng Po-yu (曾柏瑜), consultant at Doublethink Lab. You have all been long involved in civil defense education, emergency medicine, and other fields, so I am quite confident that you will help the committee to better understand civilian force training and utilization. Let me also introduce Tu Wen-ling (杜文苓), distinguished professor in the Department of Public Administration at National Chengchi University, and Hsiao Hsu-chun (蕭旭君), associate professor of Computer Science and Information Engineering at National Taiwan University. I thank both of you for generously contributing your expertise to make Taiwan’s energy and critical infrastructure operations more robust. Also, I want to thank Wu Jong-shinn (吳宗信), director general of the Taiwan Space Agency; Kenny Huang (黃勝雄), chairman of the Taiwan Network Information Center; and Dai Chen-yu (戴辰宇), board member of the Association of Hackers in Taiwan. Your involvement will contribute immensely to the protection of information, transportation, and financial networks in Taiwan. Among our committee members we have the following six government representatives: Minister of National Defense Wellington Koo (顧立雄); Minister of Economic Affairs Kuo Jyh-huei (郭智輝), who could not attend today’s meeting; Minister of Transportation and Communications Chen Shih-kai (陳世凱); Minister of Agriculture Chen Junne-jih (陳駿季); Minister of Health and Welfare Chiu Tai-yuan (邱泰源); and Minister of Ocean Affairs Council Kuan Bi-ling (管碧玲). The committee has two executive secretaries, namely Chi Lien-cheng (季連成), minister without portfolio of the Executive Yuan, and Minister of the Interior Liu Shyh-fang (劉世芳). In addition, one member who will be joining us shortly is Bob Hung (洪偉淦), general manager of Trend Micro Taiwan. I also want to introduce one advisor and three committee members who could not attend today. They are, respectively, Robert Tsao (曹興誠), founder of United Microelectronics Corporation; Kuo Chia-yo (郭家佑), president of the Taiwan Digital Diplomacy Association; Liu Yu-hsi (劉玉晳), associate professor in the Department of Communications Management at Shih-Hsin University; and Tina Lin (林雅芳), managing director of sales and operations at Google Taiwan. I also thank them for participating in this committee’s operations and for contributing their valuable advice at today’s proceedings in written form. Last Saturday marked the 25th anniversary of the major earthquake that struck Taiwan on September 21, 1999. For the past 25 years, we have worked continuously to improve Taiwan’s disaster preparedness and relief capabilities. Today, our purpose in building up whole-of-society defense resilience is to enable each and every individual to realize, when an emergency arises, where to best make a contribution and how to protect themselves, contribute to society, or deter an approaching enemy. We want to enable all our citizens to feel utterly confident in the continuity and future of Taiwan’s society. Today, in this first meeting of the committee, the National Security Council (NSC) will brief us on the topic of “Whole-of-Society Defense Resilience: Planning and Challenges.” The NSC will familiarize all of us here, as well as our citizens and friends watching online, with the concepts and operations involved in whole-of-society defense resilience, the associated challenges and goals, and the progress we have made toward achieving our tasks. I have said before that a sudden natural disaster is like an acute cold, while climate change is more like a chronic disease. What whole-of-society defense resilience addresses is both the chronic and the acute. In addition to national disasters and emergencies, Taiwan has also been dealing for a long time with the challenges of gray-zone aggression and cognitive warfare. Located in the first island chain, Taiwan stands on the frontline of the democratic world. As such, we have always endeavored to safeguard regional peace and stability. I firmly believe that a more resilient Taiwan will contribute more to global democracy, peace, and prosperity. I also believe that when Taiwan is properly prepared and shows determination, our like-minded partners from around the world will be more willing to help Taiwan, jointly respond to all kinds of challenges, and work in concert to mitigate risks. As the people of Taiwan become more united, our nation grows more stable. As our society becomes better prepared, our nation grows more secure. And as Taiwan shows more determination to defend itself, the international community will feel more at ease. And so, I want to thank all of you once again for taking on the major task of enhancing our whole-of-society defense resilience. I look forward to working together with everyone, as we continue to observe global conditions, to establish a platform through which we can communicate and coordinate on our national resilience strategy, thereby fostering a nationwide consensus and strengthening resilience throughout Taiwan in national defense, economic livelihoods, disaster prevention, and democracy. Moving forward, let us engage in wide-ranging discussions, build a fortress of unity, and further empower our whole-of-society defense resilience, making Taiwan a cornerstone for ensuring regional stability and democratic sustainability. Thank you. Following his statement, President Lai presented letters of appointment to the committee members and heard a report from NSC Deputy Secretary-General Hsu Szu-chien (徐斯儉) on the topic of “Whole-of-Society Defense Resilience: Planning and Challenges.” Afterward, President Lai exchanged views with the committee members regarding the content of the report and the Rules of Procedure for Meetings of the Office of the President Whole-of-Society Defense Resilience Committee.

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    2025-03-13
    President Lai holds press conference following high-level national security meeting
    On the afternoon of March 13, President Lai Ching-te convened a high-level national security meeting, following which he held a press conference. In remarks, President Lai introduced 17 major strategies to respond to five major national security and united front threats Taiwan now faces: China’s threat to national sovereignty, its threats from infiltration and espionage activities targeting Taiwan’s military, its threats aimed at obscuring the national identity of the people of Taiwan, its threats from united front infiltration into Taiwanese society through cross-strait exchanges, and its threats from using “integrated development” to attract Taiwanese businesspeople and youth. President Lai emphasized that in the face of increasingly severe threats, the government will not stop doing its utmost to ensure that our national sovereignty is not infringed upon, and expressed hope that all citizens unite in solidarity to resist being divided. The president also expressed hope that citizens work together to increase media literacy, organize and participate in civic education activities, promptly expose concerted united front efforts, and refuse to participate in any activities that sacrifice national interests. As long as every citizen plays their part toward our nation’s goals for prosperity and security, he said, and as long as we work together, nothing can defeat us. A translation of President Lai’s remarks follows: At many venues recently, a number of citizens have expressed similar concerns to me. They have noticed cases in which members of the military, both active-duty and retired, have been bought out by China, sold intelligence, or even organized armed forces with plans to harm their own nation and its citizens. They have noticed cases in which entertainers willingly followed instructions from Beijing to claim that their country is not a country, all for the sake of personal career interests. They have noticed how messaging used by Chinese state media to stir up internal opposition in Taiwan is always quickly spread by specific channels. There have even been individuals making careers out of helping Chinese state media record united front content, spreading a message that democracy is useless and promoting skepticism toward the United States and the military to sow division and opposition. Many people worry that our country, as well as our hard-won freedom and democracy and the prosperity and progress we achieved together, are being washed away bit by bit due to these united front tactics. In an analysis of China’s united front, renowned strategic scholar Kerry K. Gershaneck expressed that China plans to divide and conquer us through subversion, infiltration, and acquisition of media, and by launching media warfare, psychological warfare, and legal warfare. What they are trying to do is to sow seeds of discord in our society, keep us occupied with internal conflicts, and cause us to ignore the real threat from outside. China’s ambition over the past several decades to annex Taiwan and stamp out the Republic of China has not changed for even a day. It continues to pursue political and military intimidation, and its united front infiltration of Taiwan’s society grows ever more serious. In 2005, China promulgated its so-called “Anti-Secession Law,” which makes using military force to annex Taiwan a national undertaking. Last June, China issued a 22-point set of “guidelines for punishing Taiwan independence separatists,” which regards all those who do not accept that “Taiwan is part of the People’s Republic of China” as targets for punishment, creating excuses to harm the people of Taiwan. China has also recently been distorting United Nations General Assembly Resolution 2758, showing in all aspects China’s increasingly urgent threat against Taiwan’s sovereignty. Lately, China has been taking advantage of democratic Taiwan’s freedom, diversity, and openness to recruit gangs, the media, commentators, political parties, and even active-duty and retired members of the armed forces and police to carry out actions to divide, destroy, and subvert us from within. A report from the National Security Bureau indicates that 64 persons were charged last year with suspicion of spying for China, which was three times the number of persons charged for the same offense in 2021. Among them, the Unionist Party, Rehabilitation Alliance Party, and Republic of China Taiwan Military Government formed treasonous organizations to deploy armed forces for China. In a democratic and free society, such cases are appalling. But this is something that actually exists within Taiwan’s society today. China also actively plots ways to infiltrate and spy on our military. Last year, 28 active-duty and 15 retired members of the armed forces were charged with suspicion of involvement in spying for China, respectively comprising 43 percent and 23 percent of all of such cases – 66 percent in total. We are also alert to the fact that China has recently used widespread issuance of Chinese passports to entice Taiwanese citizens to apply for the Residence Permit for Taiwan Residents, permanent residency, or the Resident Identity Card, in an attempt to muddle Taiwanese people’s sense of national identity. China also views cross-strait exchanges as a channel for its united front against Taiwan, marking enemies in Taiwan internally, creating internal divisions, and weakening our sense of who the enemy really is. It intends to weaken public authority and create the illusion that China is “governing” Taiwan, thereby expanding its influence within Taiwan. We are also aware that China has continued to expand its strategy of integrated development with Taiwan. It employs various methods to demand and coerce Taiwanese businesses to increase their investments in China, entice Taiwanese youth to develop their careers in China, and unscrupulously seeks to poach Taiwan’s talent and steal key technologies. Such methods impact our economic security and greatly increase the risk of our young people heading to China. By its actions, China already satisfies the definition of a “foreign hostile force” as provided in the Anti-Infiltration Act. We have no choice but to take even more proactive measures, which is my purpose in convening this high-level national security meeting today. It is time we adopt proper preventive measures, enhance our democratic resilience and national security, and protect our cherished free and democratic way of life. Next, I will be giving a detailed account of the five major national security and united front threats Taiwan now faces and the 17 major strategies we have prepared in response. I. Responding to China’s threats to our national sovereignty We have a nation insofar as we have sovereignty, and we have the Republic of China insofar as we have Taiwan. Just as I said during my inaugural address last May, and in my National Day address last October: The moment when Taiwan’s first democratically elected president took the oath of office in 1996 sent a message to the international community, that Taiwan is a sovereign, independent, democratic nation. Among people here and in the international community, some call this land the Republic of China, some call it Taiwan, and some, the Republic of China Taiwan. The Republic of China and the People’s Republic of China are not subordinate to each other, and Taiwan resists any annexation or encroachment upon our sovereignty. The future of the Republic of China Taiwan must be decided by its 23 million people. This is the status quo that we must maintain. The broadest consensus in Taiwanese society is that we must defend our sovereignty, uphold our free and democratic way of life, and resolutely oppose annexation of Taiwan by China. (1) I request that the National Security Council (NSC), the Ministry of National Defense (MND), and the administrative team do their utmost to promote the Four Pillars of Peace action plan to demonstrate the people’s broad consensus and firm resolve, consistent across the entirety of our nation, to oppose annexation of Taiwan by China. (2) I request that the NSC and the Ministry of Foreign Affairs draft an action plan that will, through collaboration with our friends and allies, convey to the world our national will and broad social consensus in opposing annexation of Taiwan by China and in countering China’s efforts to erase Taiwan from the international community and downgrade Taiwan’s sovereignty. II. Responding to China’s threats from infiltration and espionage activities targeting our military (1) Comprehensively review and amend our Law of Military Trial to restore the military trial system, allowing military judges to return to the frontline and collaborate with prosecutorial, investigative, and judicial authorities in the handling of criminal cases in which active-duty military personnel are suspected of involvement in such military crimes as sedition, aiding the enemy, leaking confidential information, dereliction of duty, or disobedience. In the future, criminal cases involving active-duty military personnel who are suspected of violating the Criminal Code of the Armed Forces will be tried by a military court. (2) Implement supporting reforms, including the establishment of a personnel management act for military judges and separate organization acts for military courts and military prosecutors’ offices. Once planning and discussion are completed, the MND will fully explain to and communicate with the public to ensure that the restoration of the military trial system gains the trust and full support of society. (3) To deter the various types of controversial rhetoric and behavior exhibited by active-duty as well as retired military personnel that severely damage the morale of our national military, the MND must discuss and propose an addition to the Criminal Code of the Armed Forces on penalties for expressions of loyalty to the enemy as well as revise the regulations for military personnel and their families receiving retirement benefits, so as to uphold military discipline. III. Responding to China’s threats aimed at obscuring the national identity of the people of Taiwan (1) I request that the Ministry of the Interior (MOI), Mainland Affairs Council (MAC), and other relevant agencies, wherever necessary, carry out inspections and management of the documents involving identification that Taiwanese citizens apply for in China, including: passports, ID cards, permanent residence certificates, and residence certificates, especially when the applicants are military personnel, civil servants, or public school educators, who have an obligation of loyalty to Taiwan. This will be done to strictly prevent and deter united front operations, which are performed by China under the guise of “integrated development,” that attempt to distort our people’s national identity. (2) With respect to naturalization and integration of individuals from China, Hong Kong, and Macau into Taiwanese society, more national security considerations must be taken into account while also attending to Taiwan’s social development and individual rights: Chinese nationals applying for permanent residency in Taiwan must, in accordance with the law of Taiwan, relinquish their existing household registration and passport and may not hold dual identity status. As for the systems in place to process individuals from Hong Kong or Macau applying for residency or permanent residency in Taiwan, there will be additional provisions for long-term residency to meet practical needs. IV. Responding to China’s threats from united front infiltration into Taiwanese society through cross-strait exchanges  (1) There are increasing risks involved with travel to China. (From January 1, 2024 to today, the MAC has received reports of 71 Taiwanese nationals who went missing, were detained, interrogated, or imprisoned in China; the number of unreported people who have been subjected to such treatment may be several times that. Of those, three elderly I-Kuan Tao members were detained in China in December of last year and have not yet been released.) In light of this, relevant agencies must raise public awareness of those risks, continue enhancing public communication, and implement various registration systems to reduce the potential for accidents and the risks associated with traveling to China. (2) Implement a disclosure system for exchanges with China involving public officials at all levels of the central and local government. This includes everyone from administrative officials to elected representatives, from legislators to village and neighborhood chiefs, all of whom should make the information related to such exchanges both public and transparent so that they can be accountable to the people. The MOI should also establish a disclosure system for exchanges with China involving public welfare organizations, such as religious groups, in order to prevent China’s interference and united front activities at their outset. (3) Manage the risks associated with individuals from China engaging in exchanges with Taiwan: Review and approval of Chinese individuals coming to Taiwan should be limited to normal cross-strait exchanges and official interactions under the principles of parity and dignity, and relevant factors such as changes in the cross-strait situation should be taken into consideration. Strict restrictions should be placed on Chinese individuals who have histories with the united front coming to Taiwan, and Chinese individuals should be prohibited from coming to Taiwan to conduct activities related in any way to the united front. (4) Political interference from China and the resulting risks to national security should be avoided in cross-strait exchanges. This includes the review and management of religious, cultural, academic, and education exchanges, which should in principle be depoliticized and de-risked so as to simplify people-to-people exchanges and promote healthy and orderly exchanges. (5) To deter the united front tactics of a cultural nature employed by Chinese nationals to undermine Taiwan’s sovereignty, the Executive Yuan must formulate a solution to make our local cultural industries more competitive, including enhanced support and incentives for our film, television, and cultural and creative industries to boost their strengths in democratic cultural creation, raise international competitiveness, and encourage research in Taiwan’s own history and culture. (6) Strengthen guidance and management for entertainers developing their careers in China. The competent authorities should provide entertainers with guidelines on conduct while working in China, and make clear the scope of investigation and response to conduct that endangers national dignity. This will help prevent China from pressuring Taiwanese entertainers to make statements or act in ways that endanger national dignity. (7) The relevant authorities must adopt proactive, effective measures to prevent China from engaging in cognitive warfare against Taiwan or endangering cybersecurity through the internet, applications, AI, and other such tools. (8) To implement these measures, each competent authority must run a comprehensive review of the relevant administrative ordinances, measures, and interpretations, and complete the relevant regulations for legal enforcement. Should there be any shortcomings, the legal framework for national security should be strengthened and amendments to the National Security Act, Anti-Infiltration Act, Act Governing Relations between the People of the Taiwan Area and the Mainland Area, Laws and Regulations Regarding Hong Kong & Macao Affairs, or Cyber Security Management Act should be proposed. Communication with the public should also be increased so that implementation can happen as soon as possible. V. Responding to threats from China using “integrated development” to attract Taiwanese businesspeople and youth (1) I request that the NSC and administrative agencies work together to carry out strategic structural adjustments to the economic and trade relations between Taiwan and China based on the strategies of putting Taiwan first and expanding our global presence while staying rooted in Taiwan. In addition, they should carry out necessary, orderly adjustments to the flow of talent, goods, money, and skills involved in cross-strait economic and trade relations based on the principle of strengthening Taiwan’s foundations to better manage risk. This will help boost economic security and give us more power to respond to China’s economic and trade united front and economic coercion against Taiwan. (2) I request that the Ministry of Education, MAC, Ministry of Economic Affairs, and other relevant agencies work together to comprehensively strengthen young students’ literacy education on China and deepen their understanding of cross-strait exchanges. I also request these agencies to widely publicize mechanisms for employment and entrepreneurship for Taiwan’s youth and provide ample information and assistance so that young students have more confidence in the nation’s future and more actively invest in building up and developing Taiwan. My fellow citizens, this year marks the 80th anniversary of the end of the Second World War. History tells us that any authoritarian act of aggression or annexation will ultimately end in failure. The only way we can safeguard freedom and prevail against authoritarian aggression is through solidarity. As we face increasingly severe threats, the government will not stop doing its utmost to ensure that our national sovereignty is not infringed upon, and to ensure that the freedom, democracy, and way of life of Taiwan’s 23 million people continues on as normal. But relying solely on the power of the government is not enough. What we need even more is for all citizens to stay vigilant and take action. Every citizen stands on the frontline of the defense of democracy and freedom. Here is what we can do together: First, we can increase our media literacy, and refrain from spreading and passing on united front messaging from the Chinese state. Second, we can organize and participate in civic education activities to increase our knowledge about united front operations and build up whole-of-society defense resilience. Third, we can promptly expose concerted united front efforts so that all malicious attempts are difficult to carry out. Fourth, we must refuse to participate in any activities that sacrifice national interests. The vigilance and action of every citizen forms the strongest line of defense against united front infiltration. Only through solidarity can we resist being divided. As long as every citizen plays their part toward our nation’s goals for prosperity and security, and as long as we work together, nothing can defeat us.

    MIL OSI Asia Pacific News

  • MIL-OSI China: 29th Hong Kong FILMART opens

    Source: China State Council Information Office 3

    An artificial intelligence pilot project showcases the innovative breakthroughs brought by AI technology for film and television production at the Hong Kong International Film and TV Market (FILMART), in Hong Kong, south China, March 17, 2025. [Photo/Xinhua]

    The 29th Hong Kong International Film and TV Market (FILMART) opened on Monday, kicking off a four-day bonanza attended by over 760 exhibitors from 34 countries and regions.

    This year’s event, which is being held in the Hong Kong Convention and Exhibition Center, features pavilions for some 30 regions, with those for Cambodia, France and India debuting. More than 100 exhibitors came from ASEAN countries.

    Tencent, iQIYI and some other streaming platforms from the Chinese mainland promoted latest contents and future projects alongside local entertainment companies.

    People view the joint exhibition booth of Chinese films at the Hong Kong International Film and TV Market (FILMART) in Hong Kong, south China, March 17, 2025. [Photo/Xinhua]

    Many mainland provinces and municipalities sent teams to the event in an effort to explore overseas markets for Chinese-language movies and TV shows. A total of 58 companies from Guangdong Province will showcase over 100 of their productions.

    This FILMART also dedicated a section to artificial intelligence and its groundbreaking role in pre-production, filming, as well as the creation of visual effects and voiceprint.

    MIL OSI China News

  • MIL-OSI China: New York photo exhibition honors Yue Opera icon Yin Guifang

    Source: China State Council Information Office 3

    Yin Jifang (C), former artistic director of the Kunqu Society of New York and a close friend of Yin Guifang, and other friends and local Yue Opera fans pose for a photo at a retrospective photo exhibition commemorating the 25th anniversary of the passing of Chinese Yue Opera artist Yin Guifang, in New York, the United States, on March 16, 2025. [Photo/Xinhua]

    Black-and-white photos of the Yue Opera artist Yin Guifang line the walls, capturing her grace and passion on stage, as elderly local visitors, speaking in familiar dialects, reminisce about her brilliance and lasting legacy.

    The retrospective photo exhibition, being held in New York City from Sunday to April 10, commemorates the 25th anniversary of the passing of Chinese Yue Opera artist Yin Guifang.

    Nearly 100 attendees gathered for the event in Flushing, Queens borough of New York City, curated by the American Chinese Art & Culture Center (ACACC) and the Fujian Fanghua Yue Opera Troupe, which was originally established by Yin Guifang in Shanghai in 1946 and relocated to Fujian in 1959.

    The photo exhibition honors Yin’s artistic accomplishments and her lasting impact on Yue Opera both domestically and internationally.

    Yue Opera, one of China’s most popular traditional opera genres originated in Zhejiang Province, is renowned for its soft singing style, graceful performances and rich repertoire. Also known as Shaoxing Opera, after its place of origin, it was officially recognized in 2006 as part of China’s national intangible cultural heritage.

    Among the most revered figures in this art form is Yin Guifang, the founder of the “Yin-style” school of Yue Opera. Yin’s influence remains strong, carried on by her disciples, admirers and fans.

    March 1 marks the anniversary of Yin Guifang’s passing, a day especially significant for Yin Jifang, her close friend of over 60 years. Though not from the Yue Opera genre herself, Yin Jifang, former artistic director of the Kunqu Society of New York, another traditional opera form, shared a deep and enduring friendship with Yin Guifang, from artistic discussions to mentoring future generations.

    Despite their coincidentally similar names, Yin Jifang saw their connection as fate. Now 86, she continues to honor their decades-long bond — this time, through the exhibition.

    Yin Jifang said Guifang’s masterful performances and meticulously crafted characters continue to leave an indelible mark on audiences.

    “When I had this idea of the exhibition, I acted on it immediately,” Yin Jifang said. “The overwhelming support from both New York and Fujian was deeply moving.”

    She worked closely with the ACACC in New York to organize the exhibition, while securing strong backing from the Fujian Fanghua Yue Opera Troupe, which provided most of the annotated photographs.

    Despite working across time zones, a dedicated six-person team managed to put the exhibition together in just 12 consecutive days.

    The exhibition features a carefully curated selection of photographs — some from Yin Jifang’s personal collection, others from the Fujian Fanghua Yue Opera Troupe and even treasured clippings preserved by Yue Opera fans over the years, and more cropped from posters or newspapers. These images capture Yin Guifang’s life on and off stage, highlighting her mentorship of young performers and her commitment to preserving Yue Opera.

    “There is no global recognition without cultural identity,” Yin Jifang told Xinhua. Though Yue Opera and Kunqu Opera are niche art forms, their survival depends on the dedication and stewardship of the Chinese people.

    Wang Junan, current artistic director of the Fujian Fanghua Yue Opera Troupe and direct disciple of Yin Guifang, reflected on her lasting impact.

    “Her artistic spirit has never faded, and our lifelong bond remains strong,” Wang said. She added that her master Yin Guifang once dreamed of bringing Yue Opera to New York. Now, this exhibition stands as a bridge to fulfill that vision.

    “Thanks to everyone’s dedication, this exhibition is more than a remembrance — it is a collective tribute,” Wang said. “Art is an endless river, flowing through generations. We are the current that carries it forward, bringing Yin-style Yue Opera to the world.”

    “Yin Guifang nurtured generations of Yue Opera artists and revitalized traditional Chinese opera. This exhibition is an artistic dialogue that transcends borders,” said Zheng Quan, president of the Fujian Fanghua Yue Opera Troupe. “Through art as a bridge, we can carry Master Yin’s spirit onto the global stage.”

    “Yue Opera is a regional art form, a niche genre. If we don’t preserve it, it will eventually disappear,” said Shang Jiemin, event organizer and president of the ACACC. He added that commemorative events like this not only celebrate Yue Opera’s presence and influence but also ensure that its legacy continues for future generations.

    “When we founded this organization, it was driven by passion. Our cultural roots are in tradition,” said another organizer, Zhang Huizhu.

    “Our organization has been at the forefront of promoting Chinese culture overseas. We hosted numerous events — from traditional Yue Opera performances to folk music concerts, engaging local audiences in Flushing, Queens, while expanding outreach to Manhattan,” she said.

    She added that for many overseas Chinese, Yue Opera is more than just an art form — it’s a connection to their home country.

    “I never met Yin Guifang,” she said, “but growing up, my mother played Yue Opera at home. In Shanghai’s alleyways, on the streets — if you had a radio, you could hear it.”

    “These traditional melodies offer a sense of comfort and belong to the Chinese people living abroad,” Zhang said.

    MIL OSI China News

  • MIL-OSI: Nasdaq and nuam Strengthen Technology Partnership to Drive Capital Market Integration in Latin America

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK AND SANTIAGO, March 18, 2025 (GLOBE NEWSWIRE) — Nasdaq (Nasdaq: NDAQ) and nuam (NUAM: nuam), the merger of Santiago, Lima, and Colombia stock exchanges, today announced an extension of their strategic technology partnership, which will see all three exchanges’ central securities depositories (CSD) adopt Nasdaq’s CSD platform to optimize post-trade processing in the region.

    The agreement expands Nasdaq’s existing relationship with nuam, with the exchanges currently consolidating their trading infrastructures on Nasdaq’s platform to help attract global sources of liquidity. It also builds on Nasdaq’s longstanding technology partnership with Chile’s CSD, Depósito Central de Valores (DCV), one of the region’s most advanced CSD platforms.

    nuam’s integrated post-trade infrastructure will benefit from a unified solution based on international standards, while greater interoperability across both trading and CSD infrastructure will reduce the costs and barriers associated with accessing the individual markets, increase liquidity, and enhance operational efficiencies across the three exchanges.

    “Having high technological standards is essential for providing security and confidence to investors, as well as expanding investment opportunities and access to new markets,” said Juan Pablo Córdoba, CEO of nuam. “Our alliance with Nasdaq reaffirms our commitment to building an integrated, efficient, and accessible capital market in Latin America. The adoption of this technology will optimize connectivity, strengthen our infrastructure, and facilitate access for global investors, boosting competitiveness and the growth of the Latin American financial ecosystem,” Córdoba noted.

    “Enhancing the infrastructure underpinning global capital markets is essential to maintaining systemwide resilience and an incredibly powerful catalyst for growth,” said Magnus Haglind, SVP and Head of Marketplace Technology at Nasdaq. “nuam is at the heart of Latin America’s extraordinary journey, with the region’s markets embracing modernization at a phenomenal rate. By adopting world-leading technology they can attract international investors while ensuring they have the agility to incorporate innovative, new technologies to better serve the three markets and unlock new sources of revenue.”

    According to a recent Nasdaq survey, 84% of respondents said that they are keen to increase their investment in Latin America1. Yet the survey also revealed structural challenges that restrict flows and adds to costs: 59% of respondents said that market structure issues impose limits on their investment flows. Specifically, fragmentation, processing errors and a lack of standardization are hampering operations, with respondents seeking greater cohesion and automation to increase efficiency and improve market access.

    The implementation of Nasdaq’s CSD technology will introduce more standardized business processes and connectivity, simplifying investors’ ability to settle trades across each market. Removing barriers to investment can help attract more international capital to nuam exchanges and support the rapid development of the Latin American economy.

    Nasdaq’s technology is used by 97% of global systematically important banks, half of the world’s top 25 stock exchanges, 35 central banks and regulatory authorities, and 3,500+ clients across the financial services industry. As a scaled platform partner, Nasdaq draws on deep industry experience, technology expertise, and cloud managed service experience to help financial services companies solve their toughest operational challenges while advancing industrywide modernization.

    Media Contacts

    Camille Stafford; +1 (234) 934 9513; Camille.Stafford@nasdaq.com

    Chile: Diego Schiaffino Tyrer; +569 5528 3560; diego.schiaffino@nuamx.com

    Colombia: María Paula Aristizábal Bedoya; +57 311 2238929; maria.aristizabal@nuamx.com

    Perú: Diana Sánchez Guerrero: +51 938 946 452; diana.sanchez@nuamx.com

    About nuam:

    nuam (Stock Exchanges: NUAM) is the first multi-country stock exchange integration, bringing together the Chilean, Colombian, and Peruvian markets. It aims to standardize trading conditions and regulations across the three countries while adhering to the highest international standards. This, in turn, attracts foreign investment flows with greater strength and confidence, ultimately improving the lives of citizens in Chile, Colombia, and Peru. Through this integration, the company seeks to position itself as a key player in the global market infrastructure industry. For more information: www.nuamx.com.

    About Nasdaq:

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Cautionary Note Regarding Forward-Looking Statements:

    Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “will” and “can” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Nasdaq’s central securities depository infrastructure and related technology solutions. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.

    -NDAQG- 

    _______________________________
    1
    https://www.nasdaq.com/solutions/fintech/resources/survey/latam-markets-report

    The MIL Network

  • MIL-OSI: Nokia unveils two mass-market 25G PON residential fiber ONTs, making large-scale multi-gig and 10G+ viable and affordable

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia unveils two mass-market 25G PON residential fiber ONTs, making large-scale multi-gig and 10G+ viable and affordable

    • New indoor modems deliver speeds up to 20x faster than current gigabit solutions.
    • 25G PON technology is the most cost-effective way to deliver multi-gig and 10G+ residential services, ensuring that advertised speeds can be delivered to all subscribers simultaneously.
    • 25G PON modems have now reached the right price point for residential mass-market deployment.

    18 March 2025
    Amsterdam, Netherlands – Nokia today announced the launch of two new 25G PON fiber modems designed to deliver mass-market, high-speed residential connectivity. The indoor fiber modems provide speeds up to 20 times faster than existing gigabit solutions. 25G PON works on the same fiber network and equipment that operators already use to deliver GPON and 10G PON services. This allows operators to quickly and cost-effectively increase speeds on their network and get the most out of their Fiber-to-the-Home (FTTH) investment.
        
    Demand for multi-gigabit services is growing, moving beyond the enterprise into the home where end-users seek high-speed connectivity for cloud applications, gaming, remote work, and Wi-Fi 7. With 25G PON, operators can turn multi-Gig and 10G+ into mass-market services and know they can reliably deliver advertised speeds to all subscribers, all the time. This proven technology is used by 17 operators, including Google Fiber, Frontier, and Hong Kong Broadband. It provides an easy, cost-effective way to address residential demand for faster broadband speeds.

    The two new residential 25G PON fiber modems complement Nokia’s growing 25G PON portfolio, which includes the Lightspan FX, DF and MF fiber access platforms (OLTs), a 25G PON ONT designed for enterprise applications, and the industry’s first 25G PON sealed fiber access node for cable operators.

    “To support next-gen power users, operators must build future-ready broadband networks that scale beyond 10G. As technology advances, higher-capacity solutions like 25G PON are emerging as a simple, cost-effective way to meet tomorrow’s connectivity demands. With growing competition, differentiation, time-to-market, and scalability will remain critical for providers to stay ahead,” said Jaimie Lenderman, principal analyst at Omdia.   

    “We are investing in all next generation PON technologies including 10/25/50/100G PON, to give operators the best option to meet their needs and their business goals. 25G PON is a proven technology that can be easily activated on our existing 10G XGS-PON solutions. We have close to 2 million 25G-capable ports in the field already. These new 25G PON fiber modems provide a simple, efficient way to boost capacity and stay ahead of growing demands,” said Geert Heyninck, General Manager of Broadband Networks at Nokia.

    Multimedia, technical information and related news 
    Product Page: Nokia 25G PON ONT
    Product Page: Lightspan FX
    Product Page: Lightspan SF-8M sealed fiber access node
    Product Page: Lightspan MF fiber platform
    Web Page: 25G PON

    About Nokia
    At Nokia, we create technology that helps the world act together. 

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation. 

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries 
    Nokia Press Office 
    Email: Press.Services@nokia.com  

    Follow us on social media 
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    The MIL Network

  • MIL-OSI: New Report Exposes Climate Finance Failures, Calls for Urgent Investment Migration Solutions

    Source: GlobeNewswire (MIL-OSI)

    LONDON , March 18, 2025 (GLOBE NEWSWIRE) — A groundbreaking climate finance report, released today by the Climate Vulnerable Forum (CVF) and Henley & Partners, highlights the failings in funding urgent climate action and explores how investment migration can unlock vital resources for climate resilience in the world’s most at-risk nations.

    The CVF, an international organization of 70 climate-vulnerable countries representing 1.75 billion people — 20% of the global population — accounts for just 6% of global emissions yet faces the most severe impacts of climate breakdown. By 2030, these nations will require an estimated USD 500 billion annually to fund climate action, development, and nature preservation.

    As CVF Secretary-General and former President of the Maldives, Mohamed Nasheed, points out in the Citizenship by Investment: Sustainable Climate Finance for Governments report, global climate finance remains sluggish, restrictive, and largely inaccessible to those who need it most. “While wealthy nations delay climate action and funding commitments, frontline countries are left fighting for survival. The international financial system is failing us, and we need bold solutions to shift the balance of power in climate finance. Over the past two decades, CVF countries have already lost 20% of their potential GDP growth due to climate impacts. We cannot rely on charity from industrialized nations. Urgent initiatives are needed to ensure direct and immediate access to climate finance.”

    Mobilizing private capital for climate resilience

    Through its globally leading international government advisory practice, Henley & Partners has been providing strategic consulting to countries on the development, implementation, and management of investment-based residence and citizenship programs. To date, the firm has facilitated over USD 15 billion in foreign direct investment in many states. Its most recent initiative led to the establishment of the first climate-related citizenship investment program, the Nauru Economic and Climate Resilience Citizenship Program.

    Commenting in the report, H.E. Hon. David W.R. Adeang, M.P., President of the Republic of Nauru, says “our program funds critical resilience initiatives — from coastal reinforcement to modernized water management and sustainable food production. Similar models have strengthened climate resilience in small island states like Grenada and Antigua and Barbuda, but Nauru’s is the first to put climate adaptation at its core. The innovations we implement against rising seas can help shape global strategies for resilience.”

    According to the UN, Small Island Developing States (SIDS) have suffered USD 153 billion in climate-related losses over the past five decades, despite contributing less than 1% of global emissions, and the financial burden on these nations is further exacerbated by a USD 34 billion climate adaptation finance gap. Compounding these challenges, 70% of SIDS exceed sustainable debt levels, and climate disaster damages in these regions have surged by 90% from 2011 to 2022.

    Dr. Juerg Steffen, CEO of Henley & Partners, says “by mobilizing international investment, we can provide immediate, non-debt funding for climate resilience projects, offering a crucial financial lifeline for vulnerable nations while enabling investors to support global climate action. Rethinking how private wealth and capital intersects with public financing needs is key to bridging the climate finance gap.”

    From sovereign debt to sovereign equity

    The report outlines how investment migration programs can be structured to create Investment Migration Resilience Funds (IMRFs) that channel private capital into critical climate resilience projects without increasing national debt. By linking these programs with natural capital endowment trusts, countries can secure sustainable revenue streams to finance coastal protection, carbon offset initiatives, and the expansion of the blue economy. Successful models of this approach include leveraging blue bonds, eco-tourism, and carbon credit markets to generate funds for climate adaptation and economic diversification.

    Henley & Partners’ Chief Economist Jean Paul Fabri explains how, “effective IMRFs will operate like sovereign wealth funds, aimed at reducing economic fluctuations, funding long-term sustainability initiatives, and providing a financial cushion against climate and economic challenges. However, they differ from traditional models by incorporating climate finance, risk management, and economic development into their governance.”

    “For too long, climate-vulnerable nations have been told to adapt, cope, and endure — as if resilience were simply an act of will, rather than a matter of investment,” insists Sara Jane Ahmed, Managing Director of CVF and V20 Finance Advisor at the CVF-V20 Secretariat. “By funding climate resilience, the world is not just aiding at-risk nations — it is unlocking markets, strengthening economies, and shaping a shared future. The future belongs not to those who wait, but to those bold enough to build it.”

    Read the Full Press Release

    Media Contact: Sarah Nicklin

    Group Head of PR

    sarah.nicklin@henleyglobal.com

    +27 72 464 8965

    The MIL Network

  • MIL-OSI Asia-Pac: President Lai meets Japan-ROC Diet Members’ Consultative Council Chairman Furuya Keiji

    Source: Republic of China Taiwan

    Details
    2025-03-17
    President Lai addresses opening of 2025 Yushan Forum
    On the morning of March 17, President Lai Ching-te attended the opening of the 2025 Yushan Forum, the theme of which was “New Southbound Policy+: Taiwan, the Indo-Pacific, and a New World.” In remarks, President Lai stated that the New Southbound Policy has led to great success in economic and trade cooperation, professional exchanges, resource sharing, and building regional links. He said that in the past, Taiwanese industries went from moving westward across the Taiwan Strait, to shifting southbound, to working closer with the north, but that now, Taiwan is confidently stepping across the Pacific, reaching eastward, to the Americas and other regions. While staying firmly rooted in Taiwan, he said, Taiwan’s enterprises are expanding their global presence and marketing worldwide. The president stated that Taiwan will strive alongside its partners in democracy to bolster non-red supply chains and digital solidarity, and together respond to the threats and challenges posed by expanding authoritarianism. He indicated that the Yushan Forum is a place to share experiences, and more importantly, lay down firm foundations for exchanges and cooperation among participants’ countries to create greater stability for the region and greater prosperity for the world. A transcript of President Lai’s remarks follows: On behalf of all the people of Taiwan, I want to welcome our good friends joining us from around the world. Your presence shows support for a peaceful and stable Taiwan and a free and open Indo-Pacific region. The Yushan Forum has become more than just an important platform for the New Southbound Policy. Over these eight years, more than 3,600 participants from Taiwan and 28 other countries have helped deepen Taiwan’s connections with nations around the world. The New Southbound Policy has led to great success in economic and trade cooperation, professional exchanges, resource sharing, and building regional links. Looking ahead, the Yushan Forum will be taking on the important mission of carrying its legacy forward and transforming it into action. Not only must we turn consensus into action plans for close cooperation among countries in the region; we must also work with partners around the world to forge ahead with cooperative plans for mutual prosperity. We hope to envision a new world from Taiwan – and see Taiwan in this new world. We are also embracing an era of smart technology. The government sessions of this Yushan Forum are therefore centered around topics including smart healthcare, smart transportation, and resilient supply chains for semiconductors. Taiwan is intent on working side by side with other countries to face the challenges of this new era. Today’s Taiwan celebrates not only the democratic achievements that are recognized by the international community, but also our strengths in the semiconductor and other tech industries, which enable us to play a key role in restructuring global democratic supply chains and the economic order. We are building on Taiwan as a “silicon island” for semiconductors while accelerating innovation and AI applications for industry. These efforts will help Taiwan become an “AI island” as well. We are also developing forward-looking fields such as quantum technology and precision medicine, which will create an industry ecosystem that is highly competitive and innovative. The government will also develop economic models powered by innovation. This will help SMEs (small- and medium-sized enterprises) upgrade and transform through the power of digital transformation and net-zero transition. In the past, Taiwanese industries went from moving westward across the Taiwan Strait, to shifting southbound, to working closer with the north. But now, we are confidently stepping across the Pacific, reaching eastward, to the Americas and other regions. While staying firmly rooted in Taiwan, our enterprises are expanding their global presence and marketing worldwide. Taiwan will continue to engage with the world, and we welcome the world to come closer to Taiwan. As we gather here today, I am confident that we share the same goal: Through international cooperation, we hope to build an even more inclusive, resilient, prosperous Indo-Pacific, while jointly defending the democracy, freedom, and peace we so firmly believe in. I want to thank you all once again for supporting Taiwan. We will strive alongside our partners in democracy to bolster non-red supply chains and digital solidarity, and together respond to the threats and challenges posed by expanding authoritarianism. Yushan is also known as Jade Mountain. It is Taiwan’s highest peak and stands as firm as our unwavering spirit. During this critical time of global change and transformation, the Yushan Forum is a place where we can share our experiences, and more importantly, lay down firm foundations for exchanges and cooperation among our countries. This way, we can create greater stability for the region and greater prosperity for the world. I wish everyone a successful forum. Thank you. Also in attendance at the event were former Prime Minister of Denmark and Alliance of Democracies Foundation Chairman Anders Fogh Rasmussen, former Prime Minister of the Republic of Slovenia Janez Janša, Japan-ROC Diet Members’ Consultative Council Chairman Furuya Keiji, and American Institute in Taiwan Taipei Office Director Raymond Greene.

    Details
    2025-03-13
    President Lai attends Ministry of Foreign Affairs 2025 Spring Banquet  
    On the evening of March 13, President Lai Ching-te attended the Ministry of Foreign Affairs 2025 Spring Banquet for foreign ambassadors and representatives stationed in Taiwan. In remarks, President Lai thanked our diplomatic allies and like-minded countries for continuing to demonstrate their high regard and support for Taiwan at international venues. The president stated that a stronger Taiwan will be able to contribute even more to the world, explaining that is why he established the National Climate Change Committee, the Whole-of-Society Defense Resilience Committee, and the Healthy Taiwan Promotion Committee. He added that he hopes to pool our strengths so as to formulate national development strategies and enhance Taiwan’s international collaboration. The president also expressed hope of developing opportunities for cooperation with other countries across many domains to jointly advance democracy, peace, and prosperity throughout the region and around the world. A translation of President Lai’s remarks follows: Today is my first time attending the Ministry of Foreign Affairs Spring Banquet since becoming president. It is a pleasure to be able to meet and socialize with esteemed guests from other countries and good friends from all sectors of Taiwan. The global landscape has changed rapidly over the past year. Geopolitical volatility, the restructuring of supply chains, technological advancements, and other factors have had a profound impact on nations’ strategic plans. I want to take this opportunity to thank our diplomatic allies and like-minded countries for continuing to demonstrate their high regard and support for Taiwan at international venues. Last month, the leaders of the United States and Japan, the US secretary of state and the foreign ministers of Japan and the Republic of Korea, and the G7 foreign ministers all issued joint statements emphasizing the importance of peace and stability across the Taiwan Strait, underscoring Taiwan’s vital role in global progress and prosperity.  I would especially like to thank members of the diplomatic corps for working with us to build even closer partnerships between our countries. I have always believed that a stronger Taiwan will be able to contribute even more to the world. That is why, after taking office, I established the National Climate Change Committee, the Whole-of-Society Defense Resilience Committee, and the Healthy Taiwan Promotion Committee under the Office of the President. These committees continue to address global concerns and seek to solve important issues that impact our own people. I hope to pool our strengths so as to formulate national development strategies and enhance Taiwan’s international collaboration.  Last year, I visited our Pacific allies – the Republic of the Marshall Islands, Tuvalu, and the Republic of Palau. I deeply appreciated our friends’ warm hospitality and came to feel very deeply that we are like a family. Through local visits and mutual exchanges, we deepened our diplomatic alliances and cooperation, creating win-win outcomes. We also showed Taiwan’s determination to work with allies to tackle the many challenges related to climate change, net-zero transition, and digital transformation. At the start of this month, Taiwan hosted the first-ever workshop on whole-of-society defense resilience under the Global Cooperation and Training Framework. Experts and scholars from 30 countries participated in the discussions. I once again thank the diplomatic corps for their support and assistance. In the future, we look forward to developing opportunities for cooperation with other countries across many domains to jointly advance democracy, peace, and prosperity throughout the region and around the world. In the face of authoritarian expansion, Taiwan will continue to bolster its national defense capabilities. We will stand shoulder to shoulder with fellow democracies to demonstrate the strength of deterrence. We will also join hands to build non-red supply chains, strengthen our economic resilience, and promote an initiative on semiconductor supply chain partnerships for global democracies. All of this will ensure steady technological and economic development.  In my New Year’s Day address, I said that in this new year, we have many more brilliant stories of Taiwan to share with the world. Everyone gathered here tonight is a dear friend of Taiwan. And each of you plays an important role in the stories this land has to tell.  I am deeply grateful to you all for the incredible efforts you make in support of Taiwan. In so many ways, you connect Taiwan to the rest of the world and allow the world to see the many different sides of this amazing nation. I believe that through even deeper and more extensive cooperation, we will create many more wonderful stories of Taiwan and build an even brighter future together. I wish you all a pleasant evening. Also in attendance at the event were Dean of the Diplomatic Corps and Saint Vincent and the Grenadines Ambassador Andrea Clare Bowman and other members of the foreign diplomatic corps in Taiwan.

    Details
    2025-03-04
    President Lai meets US Heritage Foundation founder Dr. Edwin Feulner
    On the afternoon of March 4, President Lai Ching-te met with a delegation led by founder of the US-based Heritage Foundation Dr. Edwin Feulner. In remarks President Lai thanked the foundation for publishing the 2025 Index of Economic Freedom, in which Taiwan ranked fourth globally and which recognized Taiwan’s sound legal foundation and ideal investment environment. The president said that Taiwan and the United States are important economic and trade partners and engage closely in industrial exchange. The president also expressed hope to expand investment in and procurement from the US in such areas as high-tech, energy, and agricultural products, and to work with the US and other democratic partners to create more resilient and diverse semiconductor supply chains to address new circumstances. A translation of President Lai’s remarks follows: It is a pleasure to welcome Dr. Feulner back to Taiwan today. I recall meeting with Dr. Feulner and Heritage Foundation President Kevin Roberts here at the Presidential Office at the end of last February. We had a fruitful discussion on Taiwan-US relations and regional affairs. When President Donald Trump was elected for his first term, Dr. Feulner played a crucial role in the administration’s transition team. Today, I look forward to hearing his thoughts on possible ways to further deepen relations between Taiwan and the US. I would like to thank the Heritage Foundation for publishing the 2025 Index of Economic Freedom, in which Taiwan ranked fourth globally. The report also recognized Taiwan’s sound legal foundation and ideal investment environment. Taiwan and the US are important economic and trade partners and engage closely in industrial exchange. The Taiwan Semiconductor Manufacturing Company’s (TSMC) historic US$65 billion investment in Arizona–negotiated and finalized during President Trump’s first term–is a case in point. And today, TSMC Chairman C.C. Wei (魏哲家) and President Trump jointly announced that the company would be expanding its investment in the US with new facilities. Looking ahead, we hope to expand investment in and procurement from the US in such areas as high-tech, energy, and agricultural products. We also look forward to working with the US and other democratic partners to create more resilient and diverse semiconductor supply chains to address new circumstances. At present, we continue to face authoritarian expansionism. As a country that deeply loves and staunchly defends freedom, Taiwan will collaborate with the US and other like-minded countries to maintain regional peace and stability. I would like to thank President Trump for his recent joint statement with Japanese Prime Minister Ishiba Shigeru, which emphasized the importance of maintaining peace and stability across the Taiwan Strait. And last month, the US was also part of a G7 foreign ministers’ statement in which “they strongly opposed any attempts to change unilaterally the status quo using force.” We firmly believe that only peace attained through one’s own strength can truly be called peace. Currently, Taiwan’s defense budget stands at approximately 2.5 percent of GDP. Going forward, the government will prioritize special budget allocations to ensure that Taiwan’s defense budget exceeds 3 percent of GDP. Also, we will continue to reform national defense in the conviction that help comes most to those who help themselves. This will allow us to contribute even more to regional peace and stability. In closing, I once again thank Dr. Feulner for visiting and for demonstrating support of Taiwan. I wish you all a smooth and successful trip. Dr. Feulner then delivered remarks, first stating that on behalf of his successor, President Roberts, and all of his colleagues at the Heritage Foundation, it is his pleasure to present President Lai with the first copy of the 2025 Index of Economic Freedom. Pointing out that in the Index the Republic of China (Taiwan) is number four of 176 countries around the world in terms of its economic freedom, Dr. Feulner extended his congratulations to President Lai.  Dr. Feulner said he looks forward to a discussion about the present situation and how we can improve relations between the US and Taiwan. Dr. Feulner expressed his gratitude on hearing the wonderful announcement from TSMC, which was released right before his visit, that it will be expanding its investment in the US. In past trips, he said, he has had the opportunity to visit the TSMC headquarters in Taiwan, and fairly recently he has had the opportunity to view the site in Arizona where the construction continues and where the initial operations are beginning. He stated that they are proud to have TSMC now as an integral part of our responsible bilateral relationship. Dr. Feulner noted that while TSMC is of course very big, he also wants to express appreciation for all of the hundreds and hundreds of Taiwan-based companies that are strong, close partners throughout the US with American companies and with American people in terms of making a close and unified alliance of two freedom-loving countries.

    Details
    2025-03-04
    President Lai attends opening ceremony of GCTF Workshop on Whole-of-Society Resilience Building, Preparation, and Response
    On the morning of March 4, President Lai Ching-te attended the opening ceremony of the Global Cooperation and Training Framework (GCTF) Workshop on Whole-of-Society Resilience Building, Preparation, and Response. In remarks, President Lai stated that global challenges such as extreme weather, pandemics, and energy crises continue to emerge, and growing authoritarianism presents a grave threat to freedom-loving countries. These challenges have no borders, he said, and absolutely no single country can face them alone. The president said that as a responsible member of the international community, Taiwan is both willing and able to contribute even more to the democracy, peace, and prosperity of the world, and that the GCTF is an important platform where Taiwan can make those contributions by sharing its experiences with the rest of the world. President Lai indicated that Taiwan will join the forces of the central and local governments to enhance social resilience across the board, enhance disaster response capabilities in the community, and leverage its strengths to make contributions to the international community. He said that we are demonstrating to the world our determination to create an even more resilient Taiwan, and expressed hope to advance mutual assistance and exchanges with all the countries involved, so that we can together promote stability and prosperity around the world. A transcript of President Lai’s remarks follows: To begin, I would like to welcome more than 60 distinguished guests from 30 countries, as well as experts from Taiwan. You are all here for this GCTF workshop to discuss whole-of-society resilience building, preparation, and response. As a responsible member of the international community, Taiwan is both willing and able to contribute even more to the democracy, peace, and prosperity of the world. The GCTF is an important platform where Taiwan can make those contributions by sharing its experiences with the rest of the world. I want to thank our full GCTF partners, the United States, Japan, Australia, and Canada. Over the past several years, we have worked with even more countries through this framework and have expanded our exchanges into even more fields. Together, we have met all kinds of new challenges. I am confident that as our cooperation grows stronger, so will our ability to promote global progress. Each of today’s guests is contributing a vital force in that regard. I extend my sincere thanks to you all. Global challenges such as extreme weather, pandemics, and energy crises continue to emerge. And growing authoritarianism presents a grave threat to freedom-loving countries. These challenges have no borders, and absolutely no single country can face them alone. Taiwan holds a key position on the first island chain, and stands at the very frontline of the defense of democracy. With this joint workshop, we are demonstrating to the world our determination to create an even more resilient Taiwan. We are also aiming to advance our mutual assistance and exchanges with all the countries involved, so that we can make our societies more resilient and together promote stability and prosperity around the world. Moving forward, we will continue advancing the following three initiatives: First, we will join the forces of the central and local governments to enhance social resilience across the board. Just last year, I established the Whole-of-Society Defense Resilience Committee at the Presidential Office. Civilian force training, strategic material preparation, and critical infrastructure operation and maintenance are all key discussion areas for our committee. These aim to enhance Taiwan’s resilience in national defense, economic livelihoods, disaster prevention, and democracy. They are also items on the agenda for this GCTF workshop. To cover all the bases, Taiwan must unite and cooperate as a team. Last year, our committee held the very first cross-sector tabletop exercise at the Presidential Office which included central and local government officials as well as civilian observers. We aim to test the government’s emergency response capabilities in high-intensity gray-zone operations and near-conflict situations. We will continue to hold exercises to help the central and local governments work together more efficiently, and strengthen Taiwan’s overall disaster response capabilities. Second is to enhance disaster response capabilities in the community. We fully understand that to build whole-of-society resilience, we must help people increase risk awareness, know how to respond to disasters, and develop abilities to help themselves, help one another, and work together. We are grateful to the American Institute in Taiwan (AIT) for collaborating with the Taiwan Development Association for Disaster Medical Teams to host “Take Action” workshops around the country since 2021. A 2.0 version is already in practice, and continues to train the public in first aid skills. Director of the AIT Taipei Office Raymond Greene and I took part in a Take Action event in New Taipei City last year and personally saw the positive outcomes of the training. In addition to the Take Action workshops, the government is also providing Disaster Relief Volunteer training for ages 11 to 89, and is continuing to expand its target audience. We have also set up Taiwan Community Emergency Response Teams at key facilities nationwide, enhancing the ability of these important facilities to respond independently to disasters. Civilian training will continue to be refined and expanded so that members of the public can serve as important partners in government-led disaster prevention and relief. Third, we will leverage Taiwan’s strengths to make contributions to the international community. The inspiration for our Disaster Relief Volunteer training comes from a similar program run by The Nippon Care-Fit Education Institute in Japan. I am confident that through exchanges like this workshop, Taiwan and other countries can also inspire one another in many areas, and enhance whole-of-society resilience in multiple ways. Taiwan also excels in information and communications and advanced technology. We will set up even more robust cybersecurity systems, expand usage of emerging technologies, and improve the ways we maintain domestic security. We hope that by leveraging our capabilities and sharing our experiences, Taiwan can contribute even more to the international community. I want to welcome all our partners once again, and thank AIT for co-hosting this event. Let’s continue down the path of advancing global security and developing resilience together. Because together, we can travel farther, and we can travel longer. Also in attendance at the event were Japan-Taiwan Exchange Association Deputy Representative Takaba Yo, Australian Office in Taipei Representative Robert Fergusson, and Canadian Trade Office in Taipei Executive Director Jim Nickel.

    Details
    2025-02-24
    President Lai meets Japanese House of Representatives Member Tamaki Yuichiro
    On the afternoon of February 24, President Lai Ching-te met with Japanese House of Representatives Member Tamaki Yuichiro. In remarks, President Lai noted that Taiwan and Japan are important trading partners. The president expressed hope that, in addition to semiconductors, Taiwan and Japan can also bolster cooperation in the fields of hydrogen energy and drones and build non-red supply chains, thus creating economic win-win situations and maintaining peace and stability in the Indo-Pacific region and globally. A translation of President Lai’s remarks follows: I would like to start by warmly welcoming Representative Tamaki on his first trip to Taiwan. Now is a key moment for the cooperative ties between Taiwan and Japan, and the fact that Representative Tamaki has chosen to take time out of his busy schedule to make this trip demonstrates his especially meaningful support for Taiwan. For this I want to express my deepest gratitude. At the beginning of this month, Japan and the United States held a summit meeting. In the post-summit joint leaders’ statement the government of Japan reiterated the importance of maintaining peace and stability across the Taiwan Strait, opposed any attempts to unilaterally change the status quo by force or coercion, and expressed support for Taiwan’s meaningful participation in international organizations. I would like to thank the government of Japan for these statements. Taiwan and Japan are both responsible members of the international community. I welcome an even firmer friendship between Japan and the US and hope to see cooperation among Taiwan, Japan, and the US become a solid force in consolidating peace and stability in the Indo-Pacific region. In addition to complex international conditions, we now also face the threat of China’s red supply chain. More and more countries are becoming increasingly concerned about such issues as economic security and supply chain resilience. As authoritarianism consolidates, democratic nations must also come closer in solidarity. Taiwan and Japan are important trading partners. I hope that, in addition to semiconductors, Taiwan and Japan can also bolster cooperation in the fields of hydrogen energy and drones, and that we can build non-red supply chains, thus creating economic win-win situations and maintaining peace and stability in the Indo-Pacific region and globally. Lastly, I would like once again to welcome Representative Tamaki to Taiwan and wish him a successful visit. I hope he departs Taiwan with a deep impression and that he will visit again. Representative Tamaki then delivered remarks, noting that this was his first visit to Taiwan and thanking President Lai and officials of the Taiwan government for their warm welcome. Pointing out that Taiwan-Japan ties are closer than ever thanks to the major efforts made on this front by President Lai since taking office, Representative Tamaki expressed his admiration and gratitude. Representative Tamaki pointed out that in a changing global landscape, Taiwan, Japan, and the Indo-Pacific region all face major changes, but he firmly believes that Taiwan-Japan relations will develop even further. Recalling President Lai’s previous remarks, the representative said that Japan and the US recently held a summit meeting that yielded important results. In the joint leaders’ statement, he noted, the two sides made a clear commitment regarding peace and stability across the Taiwan Strait and firmly opposed any attempts to unilaterally change the status quo by force or coercion. Representative Tamaki said that the ruling Liberal Democratic Party and the Komeito did not win a majority in last year’s House of Representatives general elections, while the number of seats held by his own Democratic Party for the People quadrupled. This result, he said, has filled him with a feeling of great responsibility. Moving forward, he intends to continue promoting Taiwan-Japan cooperation and strengthening relations. Also in attendance at the meeting was Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

    Details
    2025-03-13
    President Lai holds press conference following high-level national security meeting
    On the afternoon of March 13, President Lai Ching-te convened a high-level national security meeting, following which he held a press conference. In remarks, President Lai introduced 17 major strategies to respond to five major national security and united front threats Taiwan now faces: China’s threat to national sovereignty, its threats from infiltration and espionage activities targeting Taiwan’s military, its threats aimed at obscuring the national identity of the people of Taiwan, its threats from united front infiltration into Taiwanese society through cross-strait exchanges, and its threats from using “integrated development” to attract Taiwanese businesspeople and youth. President Lai emphasized that in the face of increasingly severe threats, the government will not stop doing its utmost to ensure that our national sovereignty is not infringed upon, and expressed hope that all citizens unite in solidarity to resist being divided. The president also expressed hope that citizens work together to increase media literacy, organize and participate in civic education activities, promptly expose concerted united front efforts, and refuse to participate in any activities that sacrifice national interests. As long as every citizen plays their part toward our nation’s goals for prosperity and security, he said, and as long as we work together, nothing can defeat us. A translation of President Lai’s remarks follows: At many venues recently, a number of citizens have expressed similar concerns to me. They have noticed cases in which members of the military, both active-duty and retired, have been bought out by China, sold intelligence, or even organized armed forces with plans to harm their own nation and its citizens. They have noticed cases in which entertainers willingly followed instructions from Beijing to claim that their country is not a country, all for the sake of personal career interests. They have noticed how messaging used by Chinese state media to stir up internal opposition in Taiwan is always quickly spread by specific channels. There have even been individuals making careers out of helping Chinese state media record united front content, spreading a message that democracy is useless and promoting skepticism toward the United States and the military to sow division and opposition. Many people worry that our country, as well as our hard-won freedom and democracy and the prosperity and progress we achieved together, are being washed away bit by bit due to these united front tactics. In an analysis of China’s united front, renowned strategic scholar Kerry K. Gershaneck expressed that China plans to divide and conquer us through subversion, infiltration, and acquisition of media, and by launching media warfare, psychological warfare, and legal warfare. What they are trying to do is to sow seeds of discord in our society, keep us occupied with internal conflicts, and cause us to ignore the real threat from outside. China’s ambition over the past several decades to annex Taiwan and stamp out the Republic of China has not changed for even a day. It continues to pursue political and military intimidation, and its united front infiltration of Taiwan’s society grows ever more serious. In 2005, China promulgated its so-called “Anti-Secession Law,” which makes using military force to annex Taiwan a national undertaking. Last June, China issued a 22-point set of “guidelines for punishing Taiwan independence separatists,” which regards all those who do not accept that “Taiwan is part of the People’s Republic of China” as targets for punishment, creating excuses to harm the people of Taiwan. China has also recently been distorting United Nations General Assembly Resolution 2758, showing in all aspects China’s increasingly urgent threat against Taiwan’s sovereignty. Lately, China has been taking advantage of democratic Taiwan’s freedom, diversity, and openness to recruit gangs, the media, commentators, political parties, and even active-duty and retired members of the armed forces and police to carry out actions to divide, destroy, and subvert us from within. A report from the National Security Bureau indicates that 64 persons were charged last year with suspicion of spying for China, which was three times the number of persons charged for the same offense in 2021. Among them, the Unionist Party, Rehabilitation Alliance Party, and Republic of China Taiwan Military Government formed treasonous organizations to deploy armed forces for China. In a democratic and free society, such cases are appalling. But this is something that actually exists within Taiwan’s society today. China also actively plots ways to infiltrate and spy on our military. Last year, 28 active-duty and 15 retired members of the armed forces were charged with suspicion of involvement in spying for China, respectively comprising 43 percent and 23 percent of all of such cases – 66 percent in total. We are also alert to the fact that China has recently used widespread issuance of Chinese passports to entice Taiwanese citizens to apply for the Residence Permit for Taiwan Residents, permanent residency, or the Resident Identity Card, in an attempt to muddle Taiwanese people’s sense of national identity. China also views cross-strait exchanges as a channel for its united front against Taiwan, marking enemies in Taiwan internally, creating internal divisions, and weakening our sense of who the enemy really is. It intends to weaken public authority and create the illusion that China is “governing” Taiwan, thereby expanding its influence within Taiwan. We are also aware that China has continued to expand its strategy of integrated development with Taiwan. It employs various methods to demand and coerce Taiwanese businesses to increase their investments in China, entice Taiwanese youth to develop their careers in China, and unscrupulously seeks to poach Taiwan’s talent and steal key technologies. Such methods impact our economic security and greatly increase the risk of our young people heading to China. By its actions, China already satisfies the definition of a “foreign hostile force” as provided in the Anti-Infiltration Act. We have no choice but to take even more proactive measures, which is my purpose in convening this high-level national security meeting today. It is time we adopt proper preventive measures, enhance our democratic resilience and national security, and protect our cherished free and democratic way of life. Next, I will be giving a detailed account of the five major national security and united front threats Taiwan now faces and the 17 major strategies we have prepared in response. I. Responding to China’s threats to our national sovereignty We have a nation insofar as we have sovereignty, and we have the Republic of China insofar as we have Taiwan. Just as I said during my inaugural address last May, and in my National Day address last October: The moment when Taiwan’s first democratically elected president took the oath of office in 1996 sent a message to the international community, that Taiwan is a sovereign, independent, democratic nation. Among people here and in the international community, some call this land the Republic of China, some call it Taiwan, and some, the Republic of China Taiwan. The Republic of China and the People’s Republic of China are not subordinate to each other, and Taiwan resists any annexation or encroachment upon our sovereignty. The future of the Republic of China Taiwan must be decided by its 23 million people. This is the status quo that we must maintain. The broadest consensus in Taiwanese society is that we must defend our sovereignty, uphold our free and democratic way of life, and resolutely oppose annexation of Taiwan by China. (1) I request that the National Security Council (NSC), the Ministry of National Defense (MND), and the administrative team do their utmost to promote the Four Pillars of Peace action plan to demonstrate the people’s broad consensus and firm resolve, consistent across the entirety of our nation, to oppose annexation of Taiwan by China. (2) I request that the NSC and the Ministry of Foreign Affairs draft an action plan that will, through collaboration with our friends and allies, convey to the world our national will and broad social consensus in opposing annexation of Taiwan by China and in countering China’s efforts to erase Taiwan from the international community and downgrade Taiwan’s sovereignty. II. Responding to China’s threats from infiltration and espionage activities targeting our military (1) Comprehensively review and amend our Law of Military Trial to restore the military trial system, allowing military judges to return to the frontline and collaborate with prosecutorial, investigative, and judicial authorities in the handling of criminal cases in which active-duty military personnel are suspected of involvement in such military crimes as sedition, aiding the enemy, leaking confidential information, dereliction of duty, or disobedience. In the future, criminal cases involving active-duty military personnel who are suspected of violating the Criminal Code of the Armed Forces will be tried by a military court. (2) Implement supporting reforms, including the establishment of a personnel management act for military judges and separate organization acts for military courts and military prosecutors’ offices. Once planning and discussion are completed, the MND will fully explain to and communicate with the public to ensure that the restoration of the military trial system gains the trust and full support of society. (3) To deter the various types of controversial rhetoric and behavior exhibited by active-duty as well as retired military personnel that severely damage the morale of our national military, the MND must discuss and propose an addition to the Criminal Code of the Armed Forces on penalties for expressions of loyalty to the enemy as well as revise the regulations for military personnel and their families receiving retirement benefits, so as to uphold military discipline. III. Responding to China’s threats aimed at obscuring the national identity of the people of Taiwan (1) I request that the Ministry of the Interior (MOI), Mainland Affairs Council (MAC), and other relevant agencies, wherever necessary, carry out inspections and management of the documents involving identification that Taiwanese citizens apply for in China, including: passports, ID cards, permanent residence certificates, and residence certificates, especially when the applicants are military personnel, civil servants, or public school educators, who have an obligation of loyalty to Taiwan. This will be done to strictly prevent and deter united front operations, which are performed by China under the guise of “integrated development,” that attempt to distort our people’s national identity. (2) With respect to naturalization and integration of individuals from China, Hong Kong, and Macau into Taiwanese society, more national security considerations must be taken into account while also attending to Taiwan’s social development and individual rights: Chinese nationals applying for permanent residency in Taiwan must, in accordance with the law of Taiwan, relinquish their existing household registration and passport and may not hold dual identity status. As for the systems in place to process individuals from Hong Kong or Macau applying for residency or permanent residency in Taiwan, there will be additional provisions for long-term residency to meet practical needs. IV. Responding to China’s threats from united front infiltration into Taiwanese society through cross-strait exchanges  (1) There are increasing risks involved with travel to China. (From January 1, 2024 to today, the MAC has received reports of 71 Taiwanese nationals who went missing, were detained, interrogated, or imprisoned in China; the number of unreported people who have been subjected to such treatment may be several times that. Of those, three elderly I-Kuan Tao members were detained in China in December of last year and have not yet been released.) In light of this, relevant agencies must raise public awareness of those risks, continue enhancing public communication, and implement various registration systems to reduce the potential for accidents and the risks associated with traveling to China. (2) Implement a disclosure system for exchanges with China involving public officials at all levels of the central and local government. This includes everyone from administrative officials to elected representatives, from legislators to village and neighborhood chiefs, all of whom should make the information related to such exchanges both public and transparent so that they can be accountable to the people. The MOI should also establish a disclosure system for exchanges with China involving public welfare organizations, such as religious groups, in order to prevent China’s interference and united front activities at their outset. (3) Manage the risks associated with individuals from China engaging in exchanges with Taiwan: Review and approval of Chinese individuals coming to Taiwan should be limited to normal cross-strait exchanges and official interactions under the principles of parity and dignity, and relevant factors such as changes in the cross-strait situation should be taken into consideration. Strict restrictions should be placed on Chinese individuals who have histories with the united front coming to Taiwan, and Chinese individuals should be prohibited from coming to Taiwan to conduct activities related in any way to the united front. (4) Political interference from China and the resulting risks to national security should be avoided in cross-strait exchanges. This includes the review and management of religious, cultural, academic, and education exchanges, which should in principle be depoliticized and de-risked so as to simplify people-to-people exchanges and promote healthy and orderly exchanges. (5) To deter the united front tactics of a cultural nature employed by Chinese nationals to undermine Taiwan’s sovereignty, the Executive Yuan must formulate a solution to make our local cultural industries more competitive, including enhanced support and incentives for our film, television, and cultural and creative industries to boost their strengths in democratic cultural creation, raise international competitiveness, and encourage research in Taiwan’s own history and culture. (6) Strengthen guidance and management for entertainers developing their careers in China. The competent authorities should provide entertainers with guidelines on conduct while working in China, and make clear the scope of investigation and response to conduct that endangers national dignity. This will help prevent China from pressuring Taiwanese entertainers to make statements or act in ways that endanger national dignity. (7) The relevant authorities must adopt proactive, effective measures to prevent China from engaging in cognitive warfare against Taiwan or endangering cybersecurity through the internet, applications, AI, and other such tools. (8) To implement these measures, each competent authority must run a comprehensive review of the relevant administrative ordinances, measures, and interpretations, and complete the relevant regulations for legal enforcement. Should there be any shortcomings, the legal framework for national security should be strengthened and amendments to the National Security Act, Anti-Infiltration Act, Act Governing Relations between the People of the Taiwan Area and the Mainland Area, Laws and Regulations Regarding Hong Kong & Macao Affairs, or Cyber Security Management Act should be proposed. Communication with the public should also be increased so that implementation can happen as soon as possible. V. Responding to threats from China using “integrated development” to attract Taiwanese businesspeople and youth (1) I request that the NSC and administrative agencies work together to carry out strategic structural adjustments to the economic and trade relations between Taiwan and China based on the strategies of putting Taiwan first and expanding our global presence while staying rooted in Taiwan. In addition, they should carry out necessary, orderly adjustments to the flow of talent, goods, money, and skills involved in cross-strait economic and trade relations based on the principle of strengthening Taiwan’s foundations to better manage risk. This will help boost economic security and give us more power to respond to China’s economic and trade united front and economic coercion against Taiwan. (2) I request that the Ministry of Education, MAC, Ministry of Economic Affairs, and other relevant agencies work together to comprehensively strengthen young students’ literacy education on China and deepen their understanding of cross-strait exchanges. I also request these agencies to widely publicize mechanisms for employment and entrepreneurship for Taiwan’s youth and provide ample information and assistance so that young students have more confidence in the nation’s future and more actively invest in building up and developing Taiwan. My fellow citizens, this year marks the 80th anniversary of the end of the Second World War. History tells us that any authoritarian act of aggression or annexation will ultimately end in failure. The only way we can safeguard freedom and prevail against authoritarian aggression is through solidarity. As we face increasingly severe threats, the government will not stop doing its utmost to ensure that our national sovereignty is not infringed upon, and to ensure that the freedom, democracy, and way of life of Taiwan’s 23 million people continues on as normal. But relying solely on the power of the government is not enough. What we need even more is for all citizens to stay vigilant and take action. Every citizen stands on the frontline of the defense of democracy and freedom. Here is what we can do together: First, we can increase our media literacy, and refrain from spreading and passing on united front messaging from the Chinese state. Second, we can organize and participate in civic education activities to increase our knowledge about united front operations and build up whole-of-society defense resilience. Third, we can promptly expose concerted united front efforts so that all malicious attempts are difficult to carry out. Fourth, we must refuse to participate in any activities that sacrifice national interests. The vigilance and action of every citizen forms the strongest line of defense against united front infiltration. Only through solidarity can we resist being divided. As long as every citizen plays their part toward our nation’s goals for prosperity and security, and as long as we work together, nothing can defeat us.

    MIL OSI Asia Pacific News

  • MIL-OSI: Information to be delivered by Šiaulių Bankas at the Investor Conference Webinar on Rebranding

    Source: GlobeNewswire (MIL-OSI)

    The webinar will be hosted by Vytautas Sinius, CEO and Raimonda Gudaitė, CMO, who will introduce the Rebranding of the Bank.

     

    Please find enclosed the information to be delivered during the presentation.

     

    Additional information:
    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    Attachment

    The MIL Network

  • MIL-OSI New Zealand: Miramar incident: Injured man dies in hospital

    Source: New Zealand Police (National News)

    Attribute to Detective Inspector Nick Pritchard:

    A man who was found critically injured on a roadside in Miramar, Wellington has died in hospital this morning, with Police opening an unexplained death investigation.

    The man was found critically injured on a footpath about 2.20am on Monday, at the intersection of Camperdown Road and Totora Road. It was the second serious incident, following the burglary of a Darlington Road address at 2am, where two adults found a stranger in their home.

    After being confronted and fighting with one of the occupants the intruder fled. It was when Police were carrying out area enquiries that officers came across the injured and unconscious man, a short distance from his vehicle.

    Parallel investigations are under way into both incidents and Police are still working to determine if there is any link between the two.

    Sightings of the victim

    We would like to hear from anybody who walked or drove in the area near Camperdown Road and Totora Road between 12.30am and 2.30am on Monday. You may not think you have anything to contribute, but we would like to know what you may have seen, or view any dashcam footage.

    Public appeal

    We ask that residents in Darlington Road, Totara Road and Camperdown Road, particularly the block north of Camperdown Road, to check their properties for any missing clothing from clotheslines or missing footwear or other items. We also want to hear from anyone who locates any discarded items of property on their sections.

    Investigators also want to hear of any sightings of any suspicious persons in this area between 12.30am and 2.30am on Monday, or from anyone with CCTV footage. We are particularly interested in any sightings of a man wearing a white cap, shorts and gumboots.

    Police would also like to hear of any suspicious activity or people prowling in the area over the last couple of weeks, including any previously unreported thefts from properties or vehicles since early March.

    Enquiries ongoing

    Police are still completing scene examinations and will be visiting properties to ask residents if they saw anything of relevance to the investigation and whether they have CCTV footage.

    At this stage it has not been established if there is a connection between the intruder and the deceased, but that is a focus of the investigation.

    While we are still piecing the events of Monday morning together, Police can confirm the intruder was unknown to the occupants of the property that he broke into. They do not know him, and do not know why he was in their house.

    We know these events will cause concern in the community and we are working hard to answer the many questions around Monday morning’s incidents. Police are carrying out reassurance patrols in the Miramar area and this will continue over the coming days.

    If you can help

    If you have any information that could help our enquiries, please update us online now or call 105.

    Please use the reference number 250317/6324, or reference Operation Celtic.

    Information can also be provided anonymously via Crime Stoppers on 0800 555 111. 

    ENDS

    Issued by the Police Media Centre
     

    MIL OSI New Zealand News

  • MIL-OSI New Zealand: Five arrests following Tikipunga aggravated robberies

    Source: New Zealand Police (District News)

    Five people have been arrested following an aggravated robbery and attempted burglary in Whangārei this morning.

    At about 6am Police received a report of an attempted break-in at a service station on Tarewa Road followed, by another report of a group of people breaking into a premise (service station) on Kiripaka Road at about 6.15am.

    Detective Sergeant Ryan Cooper, Whangārei CIB, says cash, cigarettes and vapes were targeted before the offenders fled in two vehicles.

    Both vehicles were quickly located abandoned in Aratiatia and Rerewai Place and towed for forensic examination.

    “Enquiries have led us to execute a search warrant at an address on Pebble Beach Road where two people were taken into custody without incident.

    “Some of the stolen property has been recovered from the address.”

    Detective Sergeant Cooper says CCTV also assisted in Police stopping a vehicle of interest nearby, where another three people were arrested.

    “A search of the vehicle has also located some of the stolen goods and cash.

    “This was a quick response by our teams, ensuring our community knows we are dedicated to holding offenders to account for these crimes.

    “I hope the Tikipunga and wider Whangārei community feels reassured by these arrests.”

    Five people, aged 15 and 16, will appear in the Whangārei Youth Court charged with unlawful gets into motor vehicle, attempted burglary and aggravated robbery.

    ENDS.

    Holly McKay/NZ Police

    MIL OSI New Zealand News

  • MIL-OSI Australia: Net closes in murder investigation

    Source: South Australia Police

    Woodville Gardens man Bill Frangos was murdered more than three hours before his Essex Street home was set alight in a bid to destroy evidence, Major Crime Investigation Branch detectives have revealed.

    In a significant development in the murder investigation, detectives have also revealed they believe those responsible for the murder returned to the scene in a distinctive grey Holden Commodore shortly before lighting the fire.

    CCTV has revealed just after 3.30am on 7 November 2024 the grey Commodore – which has a silver front bumper panel, damage to the front passenger door and a black tyre rim on the front passenger side – was parked on Ridley Grove at Woodville Gardens, a short distance from Mr Frangos’ Essex Street house.

    A man wearing a backpack was seen walking from the grey Commodore towards the Essex Street house and a short time later CCTV captured it erupting in flames.

    The vision also shows what detectives believe to be the same man then running back to Ridley Grove and leaving the area in a southerly direction in the grey Commodore.

    In December detectives released CCTV of a red Ford Falcon XR6 utility leaving the vicinity of the murder. New CCTV footage reveals two people returning to this vehicle before it leaves. Investigations have revealed these two people are male of African appearance.

    This vehicle has been seized by detectives as part of the investigation.

    This new CCTV footage captured the two men walking between Mr Frangos’ address and back to the utility parked in nearby Parker Street on a number of occasions between 10.30pm and midnight on 6 November 2024.

    Detectives believe the same two men are responsible for Mr Frangos’ murder and the subsequent arson attack on his home. It is believed the two men and Mr Frangos were acquainted and the murder is not random.

    Major Crime Investigation Branch Officer-in-Charge Detective Superintendent Darren Fielke appealed for anyone with information on the whereabouts of the grey Commodore or who knows of any individual associated with it to contact police.

    “It is a distinctive vehicle, particularly with the silver front bumper panel, that people will certainly recognise,’’ he said.

    “The investigation is now moving rapidly, but we are still seeking information from the public to obtain more evidence that will assist us in rebuilding the full picture of what happened that night.

    “We are confident there will be a resolution in the case as investigations continue. The net is closing in on those responsible for Bill’s murder. Now is the time to come forward with information.’’

    Anyone with any information on the grey Commodore or those associated with it during the evening of Wednesday 6 November and the early hours of Thursday 7 November are urged to contact Crime Stoppers on 1800 333 000.

    MIL OSI News

  • MIL-OSI China: Railway offers discounts for senior riders

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

    China has introduced a new policy granting significant discounts on railway travel for senior passengers as part of efforts to tap into the market potential of its rapidly growing elderly population, China State Railway Group announced on Monday.

    On April 1, the railway operator will expand its loyalty program to offer increased reward points for passengers age 60 and older. While regular members earn points equal to five times the ticket price, senior members will now receive 15 times the fare amount in reward points. The accumulated points can be redeemed for train tickets, effectively providing substantial discounts.

    For example, a senior member of the program who spends 1,000 yuan ($138) on train tickets will receive 15,000 points, which can be redeemed for tickets worth 150 yuan. In comparison, regular members will receive 5,000 points, equivalent to 50 yuan for ticket redemption.

    The program is open to elderly passengers from the Chinese mainland, Hong Kong, Macao and Taiwan, as well as foreigners with permanent residency in China. The benefits do not extend to international or special tourist trains, but the policy is expected to encourage more elderly individuals to take domestic rail trips.

    The initiative is part of China’s broader strategy to expand its “silver economy”, recognizing the aging population as an economic opportunity rather than solely a social challenge. China had more than 310 million people age 60 and older at the end of last year, accounting for about 22 percent of the total population.

    Growing demand for senior-friendly tourism services prompted the government to introduce an action plan for “silver-haired train service” last month. The plan was jointly released by nine government departments, including the Ministry of Commerce and China State Railway Group.

    Features of new policy

    The initiative aims to stimulate the senior tourism market, boost the silver economy and improve the quality of life for elderly residents. The railway operator has developed a three-year plan to establish more than 100 premium railway tourism routes and 160 tailored trains for senior passengers by 2028. The plan also calls for operating more than 2,500 tourism train services annually by then.

    China’s railway sector is also making hardware improvements to accommodate elderly travelers. Tailored trains will feature larger seats, wheelchair-friendly layouts and additional safety features such as handrails and emergency call buttons.

    Onboard services will be enhanced with trained staff, medical support and tailored activities, including chess, reading and music events, to create a more engaging travel experience.

    On Saturday, a tourism train for seniors departed from Tianjin, picking up travelers from Beijing and Hebei province before heading south toward Jiangxi, Hunan and Guangdong provinces. A total of 452 passengers embarked on a 12-day cross-region journey, visiting several top-tier tourist sites along the route.

    “We offer healthy meals onboard, managing salt, sugar and oil intake. High-fiber and high-protein options ensure a balanced diet for passengers with conditions such as hypertension and diabetes,” said Zhao Huaying, a business manager at China Railway Travel Group’s tourism train division. “Dedicated medical support is also provided.”

    Onboard medical aid

    Each train is staffed with medical personnel capable of handling common health emergencies such as cardiac events or injuries. Medical kits and emergency call buttons are installed for added safety, train conductor Zhang Wenquan said.

    The initiative has received widespread praise from elderly travelers who appreciate the added convenience.

    “I have used the silver-haired train services three times now, and it makes traveling so much easier,” said a 63-year-old passenger surnamed He, who began her trip on Saturday from Beijing.

    “We get off the train for one or two nights during the trip and stay at local hotels. I only need to pack basic toiletries and a few clothes since I can leave my heavy luggage on the train. This saves us elderly travelers a lot of effort,” she said.

    “I don’t have to carry my heavy luggage everywhere, and I feel safe knowing medical staff are on board,” she added.

    MIL OSI China News

  • MIL-OSI China: Youth in Malta discover traditional Chinese music with pipa lessons

    Source: China State Council Information Office 3

    Chinese artist Guo Mei (R) teaches a student to play pipa in Qormi, Malta, on March 17, 2025. [Photo/Xinhua]

    A groundbreaking initiative to introduce Chinese music to Maltese youth, featuring lessons of pipa, a traditional Chinese pear-shaped stringed instrument, was launched on Monday at St Ignatius College Handaq Middle School in Malta.

    The program, organized in collaboration with the China Cultural Center in Malta, marks the first time a Maltese school has offered students the opportunity to learn the pipa.

    Young Chinese artist Guo Mei has been appointed as the instructor for the lessons. More than 20 students have voluntarily enrolled in the inaugural group, showcasing their enthusiasm for exploring a new cultural experience.

    “Our school has always been committed to embracing diversity and promoting cultural appreciation,” said Maria Montebello, head of the school, at the launch ceremony. “This initiative is another milestone in our journey of international collaboration.”

    “We are happy to see this collaboration and the sharing of culture, music, and traditions between Malta and China,” Montebello told Xinhua, expressing her excitement about the cultural exchange while voicing confidence that more students will be inspired to learn the pipa.

    Student Serena Galazzo shared her motivation for joining the program, saying, “I am interested in Chinese culture and musical instruments. Learning the pipa is exciting for me.” Despite acknowledging the challenges of learning a new instrument, she is determined to continue her studies.

    Chinese artist Guo Mei (L) teaches a student to play pipa in Qormi, Malta, on March 17, 2025. [Photo/Xinhua]

    Student Mariah Mizzi echoed her enthusiasm, saying, “The pipa is a beautiful instrument, and I love it.” Having previously listened to pipa music, she was inspired to take up the instrument. She added that she will soon be traveling to China with her family, an experience she anticipates will deepen her understanding of Chinese culture and music.

    The pipa learning program in Malta is part of the “Chinese Music Linking the Future” initiative, launched jointly by the Network of International Culturalink Entities and China cultural centers overseas.

    MIL OSI China News

  • MIL-OSI China: Exploring the charm of Chinese culture

    Source: China State Council Information Office 3

    A tourist (R) takes selfies with staff members wearing traditional Chinese ethnic costumes during an event of New Zealand Children’s Chinese Cultural Festival in Auckland, New Zealand, March 16, 2025. [Photo/Xinhua]

    New Zealand Children’s Chinese Cultural Festival was celebrated in Auckland on Sunday, showcasing Chinese heritage through captivating performances and engaging activities for children and families.

    The festival provided a unique opportunity for children and families to immerse themselves in Chinese culture while fostering cultural exchange and understanding within the local New Zealand community.

    Attendees experienced spectacular displays of traditional Chinese music, dance, magic show and martial arts. Highlights include the iconic lion and dragon dances, folk performances, and live instrumental showcases that reflect the rich history and artistry of Chinese heritage. A giant panda mascot attracted many children to take photos with it.

    Children also had the chance to participate in hands-on sessions such as calligraphy lessons, learning basic Chinese characters, and creating traditional crafts like paper-cutting, lantern decorating and shadow puppet play.

    A baby interacts with a panda-shaped mascot during an event of New Zealand Children’s Chinese Cultural Festival in Auckland, New Zealand, March 16, 2025. [Photo/Xinhua]

    Participants also enjoyed classic Chinese pastimes, including shuttlecock, or jianzi, and the ancient throwing game pitch-pot, or touhu. These traditional games aimed to engage attendees in fun and educational experiences while deepening their understanding of Chinese custom.

    The event was attended by community leaders, a member of the parliament, representatives from the China Cultural Centre in Auckland and hundreds of local families and children.

    MIL OSI China News

  • MIL-OSI Australia: Appointments to National Maritime Museum

    Source: Australian Executive Government Ministers

    The Albanese Labor Government has appointed Dr Kevin Fewster AM and Dr Bülent (Hass) Dellal AO as members to the Council for the Australian National Maritime Museum for three-year terms. 

    Minister for the Arts, Tony Burke, said the appointees’ industry knowledge would contribute greatly to the boards. 

    “Kevin has many years of experience working within cultural institutions as well as a deep passion for maritime history which will be a great asset to the council.”

    “Bülent is an accomplished academic and who has a keen interest in exploring Australia’s multicultural stories which is something our incredible cultural instutions do with pride.”

    The Australian National Maritime Museum is dedicated to exploring Australia’s maritime history through topics of migration, archaeology, ocean science, commerce, culture and lifestyle, and honours the stories of First Nations peoples’ living cultural connection to ancestral waters. 

    Dr Kevin Fewster AM has held a number of senior maritime heritage sector positions since 1984, particularly in Australia and the United Kingdom. He was previously Director of the Royal Museums Greenwich (2007-2019), the Powerhouse Museum (2000-2007), Australian National Maritime Museum (1989-2000) and South Australian Maritime Museum (1984-1988). He is currently a Patron of the Melbourne Maritime Heritage Network and The Friends of Gallipoli Inc, and a Board member of The Mariners’ Museum in Newport, Virginia. Dr Fewster was previously the President of the International Congress of Maritime Museums, the world peak body for maritime museums, as well as a former Chairman of the Council of Australasian Museum Directors. Dr Fewster was awarded a British CBE and was made a Member of the Order of Australia for service to museum administration and the preservation of maritime history. 

    Dr Bülent (Hass) Dellal AO is Chair of the Australian Multicultural Foundation, and Adjunct Professor at Deakin University’s Alfred Deakin Institute for Citizenship and Globalisation. Dr Dellal’s other board memberships include: Chair of Alfred Deakin Institute of Citizenship and Globalisation’s Advisory Board, Board of Directors of the Scanlon Foundation, Board of Directors of The Huddle, and Board of Directors of the Penington Institute. Dr Dellal has given decades of service to multicultural organisations, the arts and the community, promoting a multicultural Australia. In 2015, Dr Dellal was appointed an Officer of the Order of Australia for distinguished service to the multicultural community He has extensive board and council experience, contributing 10 years of service on the Board of Directors of SBS Television and Radio. In 2024, Dr Dellal served as Panel Chair for the Commonwealth’s Multicultural Framework Review.

    MIL OSI News

  • MIL-OSI New Zealand: Proceeds of crime to fund safety measures in central Auckland

    Source: New Zealand Government

    The Government will boost anti-crime measures across central Auckland with $1.3 million of funding as a result of the Proceeds of Crime Fund, Auckland Minister Simeon Brown and Associate Justice Minister Nicole McKee say.

    “In recent years there has been increased antisocial and criminal behaviour in our CBD. The Government is committed to cracking down on lawlessness and antisocial behaviours in central Auckland,” Mr Brown says.

    “This funding will support Business Improvement Districts (BIDs) to deliver initiatives which will help improve safety in the CBD and surrounding retail areas. Initiatives include improved lighting, more CCTV cameras, and an increase in the number of security patrols in the area to deter criminal and anti-social behaviour in our city. 

    “These latest anti-crime measures will complement the new Federal Street 24/7 police station set to open in the coming months, and the Government’s investment to ensure there are additional police officers in the Auckland CBD to improve safety. This is all part of our plan to restore law and order.”

    Associate Justice Minister Nicole McKee is pleased to support this initiative using the Proceeds of Crime Fund. It will be jointly managed by New Zealand Police and the Auckland Council.

    “Auckland’s central city is an economic engine for both the region and for New Zealand, contributing 8 per cent of our national GDP in 2023. It’s our gateway for international visitors and investors, as well as a cultural and entertainment centre for communities. Ensuring the safety of all people in our CBD is a top priority for me as Minister for Auckland,” Mr Brown says. 

    The Criminal Proceeds (Recovery) Act 2009 enables New Zealand Police to seize money and assets that have been obtained directly or indirectly from the proceeds of crime. Once all legal matters are addressed, the recovered money is placed in the Proceeds of Crime Fund. 

    “Converting the assets seized from criminals into funding for initiatives that address crime-related harm and support community wellbeing is a valuable extension of our justice system,” Ms McKee says.

    “This funding is another positive step forward for ensuring our central city is a safe, vibrant and enjoyable place for all to live, play and work.”

    MIL OSI New Zealand News