Category: Machine Learning

  • MIL-OSI: Baker Hughes to Supply NovaLT™ Gas Turbines for Frontier Infrastructure’s U.S. Data Center Project, Delivering 270 MW of Reliable Power

    Source: GlobeNewswire (MIL-OSI)

    • Baker Hughes will supply 16 NovaLT™ gas turbines for data center projects in the U.S.
    • Award builds on the collaboration announced in March 2025 between Baker Hughes and Frontier

    HOUSTON and LONDON, May 29, 2025 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, announced Wednesday an award from Frontier Infrastructure Holdings (“Frontier”), a Tailwater Capital LLC portfolio company, for 16 NovaLT™ gas turbines to power its data center projects in Wyoming and Texas, delivering up to 270 megawatts (MW) of efficient, reliable power.

    As part of the award, Baker Hughes is supplying Frontier its NovaLT™ gas turbine technology and associated equipment, including gears and Brush Power Generation four-pole generators, to power dedicated energy islands at Frontier’s behind-the-meter (BTM) power generation sites.

    The order builds on a March 2025 agreement between the two companies to accelerate large-scale carbon capture and storage (“CCS”) and power solutions in the U.S., including the Sweetwater Carbon Storage Hub in Wyoming.

    “This award underscores our commitment to advancing sustainable energy development through reliable and efficient power solutions that cater to the diverse needs of the industry,” said Ganesh Ramaswamy, executive vice president of Industrial & Energy Technology at Baker Hughes. “Leveraging our comprehensive range of integrated power solutions for Frontier’s U.S. data center projects demonstrates innovative, scalable and lower-carbon technologies helping to meet the growing demand for power.”

    The NovaLT™ gas turbine is a multi-fuel solution that can start-up and run on different fuels, including natural gas, various blends of natural gas and hydrogen, and 100% hydrogen, providing customers with the flexibility to adapt and meet their specific reliable and sustainable power requirements. With a comprehensive portfolio of diverse, reliable and clean power solutions, including hydrogen-ready turbines, geothermal, and cogeneration, Baker Hughes provides market-ready, efficient and flexible solutions for data center hyperscalers, project developers, packagers and end users.

    About Baker Hughes
    Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.

    For more information, please contact:

    Media Relations
    Chiara Toniato
    +39 3463823419
    chiara.toniato@bakerhughes.com 

    Investor Relations
    Chase Mulvehill
    +1 346-297-2561
    investor.relations@bakerhughes.com

    The MIL Network

  • MIL-OSI: FactSet Schedules Third Quarter 2025 Earnings Call

    Source: GlobeNewswire (MIL-OSI)

    NORWALK, Conn., May 29, 2025 (GLOBE NEWSWIRE) — FactSet (NYSE: FDS | NASDAQ: FDS), a global financial digital platform and enterprise solutions provider, today announced it will release its financial and operating results for the third quarter fiscal 2025, ending May 31, 2025, on Monday, June 23, 2025. FactSet will also host a conference call to discuss these results at 9:00 a.m. Eastern Time on Monday, June 23, 2025.

    The following information is provided for investors who would like to participate in the conference call:

    Third Quarter Fiscal 2025 Conference Call Details

    Please register for the conference call using the above link in advance of the call start time. The conference call platform will register your name and organization and provide dial-in numbers and a unique access pin. The call will include a live Q&A session.

    The earnings presentation slides will be available on FactSet’s investor relations website at 8:30 a.m. Eastern Time on June 23, 2025, 30 minutes before the earnings call begins.

    A replay will be available on the Company’s investor relations website after 1:00 p.m. Eastern Time on June 23, 2025, through June 23, 2026. The earnings call transcript will be available via FactSet CallStreet.

    About FactSet

    FactSet (NYSE:FDS | NASDAQ:FDS) supercharges financial intelligence, offering enterprise data and information solutions that power our clients to maximize their potential. Our cutting-edge digital platform seamlessly integrates proprietary financial data, client datasets, third-party sources, and flexible technology to deliver tailored solutions across the buy-side, sell-side, wealth management, private equity, and corporate sectors. With over 47 years of expertise, a presence in 20 countries, and extensive multi-asset class coverage, we leverage advanced data connectivity alongside AI and next-generation tools to streamline workflows, drive productivity, and enable smarter, faster decision-making. Serving more than 8,600 global clients and nearly 220,000 individual users, FactSet is a member of the S&P 500 dedicated to innovation and long-term client success. Learn more at www.factset.com and follow us on X and LinkedIn.

    FactSet
    Investor Relations:
    Kevin Toomey
    +1.212.209.5259
    Kevin.toomey@factset.com

    Media Relations:
    Kelly Prinner
    +1.203.808.8630
    Kelly.prinner@factset.com

    The MIL Network

  • MIL-OSI: Bitcoin Solaris Announces Official Presale Launch: A New Era in DeFi Begins

    Source: GlobeNewswire (MIL-OSI)

    TALLINN, Estonia, May 29, 2025 (GLOBE NEWSWIRE) — Bitcoin Solaris (BTC-S) has officially launched its highly anticipated presale, marking the beginning of a new chapter in decentralized finance. With groundbreaking technology, mobile mining accessibility, and a robust DeFi engine, Bitcoin Solaris is setting the stage for what could be one of the most transformative opportunities of 2025.

    Presale Now Live: A Limited-Time Opportunity

    The BTC-S presale is now open for 90 days, offering early participants a chance to secure tokens before the official launch on July 31, 2025. With the current price set at $5, the next tier moving to $6, and a confirmed launch price of $20, this phase presents a limited-time opportunity for early adopters to get in ahead of a major public debut. Early buyers also benefit from an 11% bonus during this period.

    Over 11,000 users have already joined the movement, contributing more than $1.2 million—demonstrating the strong and growing momentum behind the project.

    Enter Bitcoin Solaris: The Next Big Wealth Generator

    Bitcoin Solaris (BTC-S) isn’t just a coin. It’s a complete ecosystem built to fix the flaws of older blockchains. It combines Bitcoin’s legendary security with Solana-grade performance, delivering:

    • 10,000 transactions per second
    • 2-second finality
    • 99.95% less energy use than Bitcoin

    What truly makes BTC-S a DeFi revolution leader is its Helios Engine—a powerful infrastructure enabling decentralized exchanges, cross-chain swaps, lending protocols, and yield farming. Helios integrates with both the Bitcoin and Solana ecosystems, allowing users to tap into liquidity across multiple chains without needing to convert assets.

    The smart contracts powering Helios and the broader BTC-S platform have been fully audited for security, and the core team has passed KYC verification, adding another layer of trust to the project.

    Presale Phase: The $500 That Could Change Lives

    Here’s what makes now the golden window:

    • Current Price: $5
    • Next Phase: $6
    • Launch Price: $20
    • Bonus: 11%

    The presale is live for only 90 days, with the official launch locked in for July 31, 2025. Over 8,900 unique users have already joined, and more than $1.2 million has been raised. It’s one of the shortest and most explosive presales on the market—and this limited window is exactly where early fortunes are made.

    Missed Ethereum Early? Don’t Miss BTC-S

    Tech That Works for Everyone

    Mining BTC-S isn’t just for techies or whales. The Solaris Nova App lets users mine directly from their smartphones, laptops, or traditional rigs. With features like:

    • One-click mining
    • Built-in wallet
    • Adaptive smart algorithm
    • Cross-platform support

    Even a beginner can earn BTC-S within minutes. Some community members have already been invited into the beta version of the app, and while it’s not live for everyone yet, there may still be room for new testers.

    Growing Buzz and Influencer Spotlight

    Bitcoin Solaris isn’t flying under the radar anymore. Influencers and analysts are taking notice. In fact, Crypto Volt released a detailed video review diving into the reasons why Bitcoin Solaris may be one of the most exciting DeFi launches this cycle.

    Want to stay ahead of the hype? Join the official Bitcoin Solaris Telegram to get updates, community access, and presale announcements.

    Double Rewards Referral Program

    There’s also a unique referral program running during the presale. Here’s how it works:

    • Earn 5% BTC-S commission when someone buys through your referral link
    • Your invitee gets a 5% bonus on their purchase
    • You both win, and the ecosystem grows

    This structure not only drives adoption, but rewards those who help build the community from the ground up.sters may still be invited as development progresses.

    Stay Connected and Informed

    Bitcoin Solaris is gaining attention from analysts and influencers alike. Join the official channels for updates, presale news, and community insights:

    Media Contact

    Xander Levine
    info@bitcoinsolaris.com
    press@bitcoinsolaris.com
    Press Kit: [Available Upon Request]

    Disclaimer: This is a paid post and is provided by Bitcoin Solaris. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    PhotoS accompanying this announcement are available at

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    https://www.globenewswire.com/NewsRoom/AttachmentNg/780dc1cb-0154-4a9d-a770-c7555d9bc032

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    https://www.globenewswire.com/NewsRoom/AttachmentNg/07703d02-c12a-465d-92ed-75a4f1021156

    The MIL Network

  • MIL-OSI: Flow Capital Announces a US$5.0 Million Investment in Congruity 360

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 29, 2025 (GLOBE NEWSWIRE) — Flow Capital Corp. (TSXV:FW) (“Flow Capital” or the “Company”) is pleased to announce the successful closing of a US$5.0 million senior note investment in Congruity 360, a leading provider of unstructured data management and risk mitigation solutions.

    Congruity 360’s Classify360 platform equips organizations with critical capabilities to understand, manage, and secure petabyte-scale unstructured data across cloud, SaaS, and on-premises environments. Its capabilities include data discovery and classification, identification of governance and compliance vulnerabilities, and automated workflows for remediation and infrastructure optimization.

    Already trusted by Fortune 500 companies operating across the globe, Congruity 360 will use the capital to fuel continued product innovation and growth.

    “The unstructured data management and classification market is thriving! We were impressed by Congruity 360’s market and product momentum, particularly its automated governance workflow and the introduction of AI into the classification process,” said Alex Baluta, CEO of Flow Capital. “Given its high growth rate, Flow’s covenant-light, founder-friendly capital was a perfect fit for Congruity 360’s needs.”

    “2025’s wins have accelerated our product and GTM plans! We are excited to partner with Flow Capital,” said Brian Davidson, CEO of Congruity 360.

    Technology companies seeking flexible growth capital are invited to apply for funding directly at www.flowcap.com/get-funding.

    About Congruity 360

    Congruity 360 delivers the only data management solution built on a foundation of classification, by experts in data storage and data privacy. The Classify360 platform is easy to implement, requires no outside consultants, and quickly analyzes and remediates your data at a petabyte scale in days, not weeks or months.

    About Flow Capital 

    Flow Capital Corp. is a publicly listed provider of flexible growth capital and alternative debt solutions dedicated to supporting high-growth companies. Since its inception in 2018, the company has provided financing to businesses in the US, the UK, and Canada, helping them achieve accelerated growth without the dilutive impact of equity financing or the complexities of traditional bank loans. Flow Capital focuses on revenue-generating, VC-backed, and founder-owned companies seeking $2 to $10 million in capital to drive their continued expansion.

    Learn more at www.flowcap.com.

    For further information, please contact:

    Flow Capital Corp.

    Alex Baluta
    ‎Chief Executive Officer
    alex@flowcap.com

    47 Colborne Street, Suite 303,
    ‎Toronto, Ontario M5E 1P8

    Forward-Looking Information and Statements

    Certain statements herein may be “forward-looking” statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Flow or the industry to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof and Flow assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances.

    The MIL Network

  • MIL-OSI: Alarum Technologies Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Q1 2025 highlighted the growing traction of the company’s data collection solutions with leading AI and eCommerce players worldwide

    Company strategically accelerated investments in scalable infrastructure and next-gen technologies to meet the rising demand for AI-ready data and to future-proof its position among top-tier global companies

    First quarter 2025 revenue reached $7.1 million, in line with guidance, net profit was at $0.4 million and adjusted EBITDA exceeded guidance, reaching $1.3 million Cash and debt investments balance at quarter-end amounted to $24 million

    TEL AVIV, Israel, May 29, 2025 (GLOBE NEWSWIRE) — Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) (“Alarum” or the “Company”), a global provider of web data collection solutions, today announced financial results for the three-month period ended March 31, 2025.

    “2025 began with strong momentum, as demand for scalable, high-quality data continues to accelerate, driven by the rapid growth of AI technologies and eCommerce platforms,” said Shachar Daniel, Chief Executive Officer of Alarum.

    “During the quarter, several of the world’s leading AI and eCommerce companies significantly expanded their usage of our platform, relying on our advanced proxy infrastructure, innovative data collector, and Website Unblocker, to power data collection, model training, and real-time access to public web data.”

    “In line with our long-term vision, we made a deliberate decision to increase investments in our infrastructure and products, aiming to meet the growing global demand for large-scale data solutions. While this impacted our gross margin, it reinforces our position as a foundational player in the AI data ecosystem,” Mr. Daniel added.

    “With discipline and vision, we are building the backbone of data access for the AI era. Our technology and collaborations with customers uniquely position us to deliver long-term value for our stakeholders as the market continues to evolve,” Mr. Daniel concluded.

    Market Trends, Recent Developments and Business Highlights

    • Expanded strategic partnerships with major AI and eCommerce players during the first quarter: Notable new collaborations include a top Asian marketplace, a global electronics brand, and a European AI firm, for large-scale data labeling and model fine-tuning with fresh public data.
    • Redefining industry trends and market dynamics: A new market is emerging around high-quality, scalable data infrastructure. As AI models require constant training and fine-tuning, Alarum is positioned to play a key role in shaping this space and powering the global AI transformation.
    • Advancing and investing in long-term strategy, supported by strong financials: Alarum continues to pursue its strategic decision to reinvest earnings into innovative products, scaling operations, expanding infrastructure, and strengthening its IP network. This positions the Company to meet rising demand from AI-driven customers and capture long-term value, while maintaining operational efficiency during this pivotal growth phase.
    • Powering data collection with Alarum’s enhanced offerings portfolio: Tech giants and startups rely on Alarum’s data collector, Website Unblocker, and proxy network to overcome data access barriers.
    • Entering 2025 with a strong momentum: NetNut Net Retention Rate (“NRR”)1 reached 1.13 as of March 31, 2025, in yet another consecutive quarter of achieving an NRR well above 1. With its data collection offering, the Company is well-positioned amid a shifting landscape, and early results from its strategic investments and pipeline visibility support the positive outlook for the second quarter of 2025.

    ______________________

    1 See definition under “Other Metrics”.

    Summary of Financial Results2
    (in millions of U.S. dollars, rounded, except per share amounts and margins)
        For the
    Three Months Ended
    March 31,
      For the
    Year Ended
    December 31,
        2025   2024   2024
        (Unaudited)   (Unaudited)   (Audited)
                 
    Total Revenue   7.1   8.4   31.8
    of which, Web Data Collection Revenue was   7.0   8.1   30.9
    Gross profit   4.8   6.6   23.9
    Gross margin (in percentage)   67.5%   78.5%   75.1%
    Non-IFRS gross margin (in percentage)   69.4%   80.4%   77.0%
    Total operating expenses   4.5   4.0   17.2
    Financial income (expense), net   0.2   (0.9)   0.3
    Tax expense   0.1   0.3   1.2
    Net profit   0.4   1.4   5.8
    Adjusted EBITDA   1.3   3.2   9.4
    Basic earnings per American Depository Share (“ADS”)
    (in U.S. dollars)
      $0.06   $0.23   $0.87
    Non-IFRS basic earnings per ADS (in U.S. dollars)   $0.16   $0.45   $1.26
    Cash, cash equivalents and debt investments
    (including accrued interest)3
      24.0   15.1   25.0
    Shareholders’ equity2   27.6   17.1   26.4
                 

    First Quarter 2025 Financial Analysis

    • Revenue in Q1 2025 totalled $7.1 million (Q1 2024: $8.4 million). The 15% year-over-year change reflects market dynamics that affected the demand from certain customers since mid-2024.  
    • Cost of revenue in Q1 2025 was $2.3 million (Q1 2024: $1.8 million). The increase is mainly due to the investment in the Company’s IP network, specifically in infrastructure and servers, aligning with its strategic decision to boost its expansion capabilities.
    • As a result, Gross profit in Q1 2025 amounted to $4.8 million (Q1 2024: $6.6 million).
    • Operating expenses in Q1 2025 totalled $4.5 million (Q1 2024: $4.0 million). The difference was driven mainly by the increase in research and development salaries and share based payments costs.
    • Financial income, net, in Q1 2025 was $0.2 million (Q1 2024: financial expense, net, of $0.9 million). This shift was mainly due to the fair value decrease of derivative financial instruments (warrants issued in 2019-2020), resulting from the share price changes during the measured periods.  
    • Net profit in Q1 2025 reached $0.4 (Q1 2024: $1.4 million).
    • As of March 31, 2025, shareholders’ equity increased to $27.6 million, up from $26.4 million as of December 31, 2024. The increase was driven by the quarterly net profit.
    • Outstanding ordinary share count as of March 31, 2025, was approximately 69.3 million shares, or 6.9 million in ADSs.

    ______________________

    1 See definition under “Other Metrics”.
    2 The table below contains certain non-IFRS financial measures. See “Use of Non-IFRS Financial Results” for additional information regarding these measures and reconciliations to the most comparable IFRS measures.
    3 As of the last day of the period.

    Financial Outlook

    “First quarter revenues were in line with guidance, whilst Adjusted EBITDA exceeded expectations, surpassing our outlook,” said Mr. Shai Avnit, Chief Financial Officer of Alarum.

    “Alarum has entered the second quarter of 2025 with solid momentum and demand. Accordingly, second quarter 2025 revenues are estimated at $7.9 million ±3%, and Adjusted EBITDA for the second quarter 2025 is expected to range from $0.5 million to $0.8 million. We remain attentive to market dynamics as the AI market reshapes and are actively optimizing our network infrastructure and product delivery, with a clear roadmap to drive efficiency, maintain high margins, and deliver long-term value to our stakeholders,” Mr. Avnit concluded.

    We are unable to present a reconciliation of our estimated Adjusted EBITDA to net profit as we are unable to predict with reasonable certainty, and without unreasonable effort, the impact and timing of certain expenses on our net profit. The financial impact of these expenses is uncertain and is dependent on various factors, including timing, and could be material to our consolidated statements of profit or loss and other comprehensive income (loss).

    First Quarter 2025 Financial Results Conference Call

    Mr. Shachar Daniel, Chief Executive Officer of Alarum, and Mr. Shai Avnit, Chief Financial Officer of Alarum, will host a conference call today, May 29, 2025, at 8:30 a.m. ET, 5:30 a.m. Pacific time, 3:30 p.m. Israel, to discuss the first quarter of 2025 results and the second quarter 2025 outlook, followed by a Q&A session.

    To attend, log in here or dial one of the following numbers, at least five minutes before the call starts: 1-877-407-0789 or 1-201-689-8562. If you are unable to connect using the toll-free number, please try the international dial-in number. An Israeli toll-free number is: 1 809 406 247. Participants will be required to state their name and company upon dialling in. 

    Replay: The conference call will be broadcast live and available for replay here, after 11:30 a.m. ET on May 29, 2025.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Alarum is using forward-looking statements in this press release when it discusses that the demand for scalable, high-quality data continues to accelerate, driven by the rapid growth of AI technologies and eCommerce platforms; the Company’s focus and strategic; that its technology and collaborations with customers uniquely position it to deliver long-term value for its stakeholders as the market continues to evolve; emergence of a new market around high-quality, scalable data infrastructure; that early results from its strategic investments; pipeline visibility support the positive outlook for the second quarter of 2025; and its estimates regarding second quarter 2025 revenues and Adjusted EBITDA. Because such statements deal with future events and are based on Alarum’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Alarum could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Alarum’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 20, 2025, and in any subsequent filings with the SEC. Except as otherwise required by law, Alarum undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Alarum is not responsible for the contents of third-party websites.

     Condensed Consolidated Statements of Financial Position
     (in thousands of U.S. dollars)

        March 31,   December 31,
        2025   2024     2024
        (Unaudited)   (Audited)
    Assets            
    Current assets:            
    Cash and cash equivalents   13,952     15,060     15,081  
    Trade receivables, net   3,789     2,945     3,231  
    Other receivables   698     1,449     503  
        18,439     19,454     18,815  
                 
    Non-current assets:            
    Long-term deposits   119     104     121  
    Other non-current assets   85     119     85  
    Property and equipment, net   134     110     130  
    Right-of-use assets   429     709     498  
    Deferred tax assets   497     244     422  
    Debt investments at fair value through other comprehensive income   9,331         9,256  
    Debt investments at fair value through profit or loss   564         555  
    Intangible assets, net   677     1,225     811  
    Goodwill   4,118     4,118     4,118  
    Total non-current assets   15,954     6,629     15,996  
    Total assets   34,393     26,083     34,811  
                 
    Liabilities and equity            
    Current liabilities:            
    Trade payables   373     416     251  
    Other payables   2,815     3,056     4,484  
    Current maturities of long-term loan   965     353     938  
    Contract liabilities   2,072     2,728     1,987  
    Derivative financial instruments   1     952     148  
    Short-term lease liabilities   362     365     359  
    Total current liabilities   6,588     7,870     8,167  
                 
    Non-current liabilities:            
    Long-term lease liabilities   186     462     261  
    Long-term loans, net of current maturities       691     32  
    Total non-current liabilities   186     1,153     293  
    Total liabilities   6,774     9,023     8,460  
                 
    Equity:            
    Ordinary shares            
    Share premium   112,059     104,097     111,892  
    Other equity reserves   11,705     13,856     11,012  
    Accumulated deficit   (96,145 )   (100,893 )   (96,553 )
    Total equity   27,619     17,060     26,351  
    Total liabilities and equity   34,393     26,083     34,811  
    Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income (Loss)
    (in thousands of U.S. dollars, except per share amounts)

      For the
    Three Months Ended
    March 31,
      For the
    Year Ended
    December 31,
      2025   2024   2024
      (Unaudited)   (Unaudited)   (Audited)
               
    Revenue 7,133   8,376   31,824
    Cost of revenue 2,318   1,803   7,915
    Gross profit 4,815   6,573   23,909
           
    Operating expenses:      
    Research and development 1,370   1,022   4,495
    Sales and marketing 1,827   1,725   7,033
    General and administrative 1,285   1,240   5,661
    Total operating expenses 4,482   3,987   17,189
           
    Operating profit 333   2,586   6,720
           
    Financial income (expense), net 212   (848)   281
    Profit from operations before income tax 545   1,738   7,001
    Tax expense (137)   (298)   (1,221)
    Net profit for the period 408   1,440   5,780
    Other comprehensive income (loss) for the period
    Change in fair value of debt investments
    72     (80)
    Total comprehensive income for the period 480   1,440   5,700
           
    Basic profit per share $0.01   $0.02   $0.09
    Diluted profit per share $0.01   $0.02   $0.08
    Basic profit per ADS $0.06   $0.23   $0.87
               

    Use of Non-IFRS Financial Results

    In addition to disclosing financial results calculated in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board, this press release contains non-IFRS financial measures of EBITDA (EBITDA loss), Adjusted EBITDA (Adjusted EBITDA loss), non-IFRS net profit (loss), non-IFRS gross profit, non-IFRS gross margin and non-IFRS basic earnings (loss) per share or ADS for the periods presented. The Company defines EBITDA (EBITDA loss) as net profit (loss) before depreciation, amortization and impairment of intangible assets (if any), financial income (expense) and income tax; defines Adjusted EBITDA (Adjusted EBITDA loss) as EBITDA (EBITDA loss) as further adjusted to remove the impact of (i) impairment of goodwill (if any); and (ii) share-based compensation; defines non-IFRS net profit (loss) as net profit (loss) before depreciation, amortization and impairment of intangible assets (if any), impairment of goodwill (if any), financial income (expense) effects primarily related to derivative financial instruments as well as long-term loans, deferred tax effects and share-based compensation; defines non-IFRS gross profit as gross profit adjusted to remove the impact of depreciation, amortization and impairment of intangible assets and share-based compensation recorded under cost of revenues; defines non-IFRS gross margin as the percentage of the non-IFRS gross profit out of revenues; and defines non-IFRS basic earnings (loss) per share or ADS as non-IFRS net profit (loss) divided by the weighted average number of ordinary shares or ADSs. The Company’s management believes the non-IFRS financial information provided in this press release is useful to investors’ understanding and assessment of the Company’s ongoing operations. Management also uses both IFRS and non-IFRS information in evaluating and operating its business internally, and as such deemed it important to provide this information to investors. The non-IFRS financial measures disclosed by the Company should not be considered in isolation, or as a substitute for, or superior to, financial measures calculated in accordance with IFRS, and the financial results calculated in accordance with IFRS and reconciliations to those financial statements should be carefully evaluated. Investors are encouraged to review the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures provided in the financial statement tables herein.

    Other Metrics

    Net retention rate (NRR) is a key indicator of customer base health and revenue expansion. It is based on NRR point in time, which measures the revenue growth of current customers over the past four quarters, compared to the revenue generated from these customers during the same period a year earlier.
    NRR is calculated as an average of the NRR points in time for the end of the current period and the three preceding quarters.
    NRR > 1 (or 100%): Indicates revenue growth driven by existing customers, where upsells and cross-sells outweigh churn.
    NRR < 1 (or 100%): Shows revenue loss due to churn exceeding gains from upsells or cross-sells.

    Non-IFRS Financial Measures
    (in millions of U.S. dollars, rounded)

    The following tables present the reconciled effect of the above on the Company’s Adjusted EBITDA; non-IFRS net profit; and non-IFRS gross profit for the three months ended March 31, 2025 and 2024, and the year ended December 31, 2024:

        For the
    Three Months Ended
    March 31,
      For the
    Year Ended
    December 31,
        2025
      2024   2024
    Net profit   0.4   1.4   5.8
    Adjustments:            
    Depreciation and amortization   0.2   0.2   0.6
    Financial expense (income), net   (0.2)   0.9   (0.4)
    Tax expense   0.1   0.3   1.4
    EBITDA   0.5   2.8   7.4
    Adjustments:            
    Share-based compensation   0.8   0.4   2.0
    Adjusted EBITDA for the period   1.3   3.2   9.4
        For the
    Three Months Ended
    March 31,
      For the
    Year Ended
    December 31,
        2025   2024   2024
    Net profit   0.4   1.4   5.8
    Adjustments:            
    Depreciation and amortization   0.2   0.2   0.6
    Financial expense (income), net effects   (0.2)   0.9   0.1
    Deferred tax effects   (0.1)   (0.1)   (0.1)
    Share-based compensation   0.8   0.4   2.0
    Non-IFRS net profit for the period   1.1   2.8   8.4
        For the
    Three Months Ended
    March 31,
      For the
    Year Ended
    December 31,

        2025   2024   2024
    Gross profit   4.8   6.6   23.9
    Adjustments:            
    Depreciation and amortization   0.1   0.1   0.6
    Share-based compensation   *   *   *
    Non-IFRS gross profit for the period   4.9   6.7   24.5

    * Less than $0.1 million

    About Alarum Technologies Ltd.

    Alarum Technologies Ltd. (Nasdaq, TASE: ALAR) is a global provider of web data collection solutions, empowering organizations to gain a competitive edge by streamlining the collection, extraction, and analysis of large-scale structured data from public online sources. Our data collection solutions by NetNut, are based on our world’s fastest and most advanced and secured hybrid proxy network, which comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. Pushing the boundaries of innovation in data collection, we are building a robust platform, complemented by the Website Unblocker, Data Collector, Data Sets and AI data collector. As the impact of the AI revolution unfolds, Alarum, with its robust market-leading data collection offerings is preparing itself to play a meaningful role as the world reshapes in a new form.

    For more information about Alarum and its web data collection solutions, please visit www.alarum.io.

    Follow us on LinkedIn

    Follow us on X

    Subscribe to our YouTube channel

    Investor Relations Contact:

    investors@alarum.io

    The MIL Network

  • MIL-OSI Global: The anatomy of a smile: how to spot a fake from the real thing

    Source: The Conversation – UK – By Michelle Spear, Professor of Anatomy, University of Bristol

    Axel Bueckert / Alamy Stock Photo

    You’ve probably heard the claim that it takes more muscles to frown than to smile. It’s usually framed as a feel-good reason to turn your frown upside down – less effort, more joy. But anatomically, the numbers don’t quite add up.

    We’ve all seen it – the smile that doesn’t quite reach the eyes. From awkward family photos to strained workplace pleasantries, our brains often detect that something is off long before we consciously realise why.

    But what is it about a smile that makes it feel sincere — or fake? The answer lies in a surprising blend of facial anatomy, neurology and emotional authenticity.

    Not all smiles are created equal, and anatomically speaking, there are at least two distinct kinds: the Duchenne smile, which reflects genuine happiness, and the non-Duchenne smile, which tends to be more social or strategic.

    Named after 19th-century French neurologist Guillaume Duchenne de Boulogne, the Duchenne smile activates two key muscle groups. The first group is associated with the corners of the mouth – where, for example, the risorius (from the Latin to smile) draws the corners outward and the zygomaticus major muscle lifts them.

    The second, and most telling, muscle is the orbicularis oculi, which tightens the muscles around the eyes, producing the familiar “crow’s feet” and the gentle narrowing we associate with warmth and delight.

    Fake or polite smiles, on the other hand, usually involve only the mouth muscles. The eyes remain wide or indifferent, and the smile appears more mechanical than meaningful – a kind of emotional camouflage.

    Both real and fake smiles depend on cranial nerve VII, also known as the facial nerve, which sends signals from the brain to the muscles of facial expression. However, there’s a key neurological difference: Duchenne smiles tend to be generated by the limbic system, the brain’s emotional core – particularly the amygdala, an almond-shaped group of neurons that processes emotional salience.

    Non-Duchenne smiles, by contrast, are often under more conscious cortical control, originating in the motor cortex. This divide means that authentic, emotionally driven smiles are involuntary.

    You can’t easily will your orbicularis oculi to contract convincingly unless you’re genuinely feeling the emotion behind the expression. Even professional actors must tap into real memories or method techniques to produce them convincingly.

    Why our brains notice the difference

    Humans are remarkably good at detecting emotional authenticity. Studies show that even infants as young as ten months can distinguish between real and fake smiles.

    Evolutionarily, this ability may have helped us assess trustworthiness, recognise true allies and avoid deception. The fusiform gyrus, a part of the brain involved in facial recognition, works closely with the superior temporal sulcus to decode expressions — helping us gauge intention as much as emotion.

    In modern life, our sensitivity to facial nuance continues to matter. Politicians, customer service workers and public figures frequently rely on the social smile to navigate complex interpersonal expectations. But observers – consciously or not – often pick up on these micro-discrepancies.

    Fake smiles aren’t necessarily malicious. In fact, they serve important social functions: smoothing awkward interactions, signalling politeness, defusing conflict and showing deference. They are a vital part of what sociologists call “emotional labour” – managing one’s expressions to meet societal or professional expectations.

    But this kind of smiling, when sustained for long periods, can be emotionally exhausting. Studies of emotional labour suggest that being required to smile without genuine feeling – especially in service roles – is associated with increased stress, burnout and even cardiovascular strain.

    As we move further into the age of AI, synthetic faces – from chatbots to virtual assistants – are being programmed to replicate human expressions. Yet the challenge remains: how do you fake authenticity? Engineers can program a smile, but without the micro-contractions around the eyes, many of these expressions still seem disingenuous. Our own anatomy sets the gold standard.

    So next time you’re trying to decode someone’s expression, don’t just look at the mouth. Watch the eyes. The orbicularis oculi rarely lies.

    Michelle Spear 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. The anatomy of a smile: how to spot a fake from the real thing – https://theconversation.com/the-anatomy-of-a-smile-how-to-spot-a-fake-from-the-real-thing-256481

    MIL OSI – Global Reports

  • MIL-OSI Russia: In 2025, more than 2,100 budget places will be available at NSU at all levels of training

    Translation. Region: Russian Federal

    Source: Novosibirsk State University – Novosibirsk State University –

    Today, TASS hosted a press conference dedicated to the specifics of the upcoming admissions campaign to universities in the Siberian Federal District. The event was attended by representatives of leading universities in Novosibirsk, Tomsk, Krasnoyarsk and Gorno-Altaisk. NSU was represented by Alexander Trusevich, Head of the Department for Work with Applicants.

    — Last year, more than 8,000 applicants showed interest in entering the university, in terms of the number of applications, this is, of course, several times more. We hope that this year the number will be even greater. As a rule, 2/3 of the total number of those enrolled are those who were enrolled in budget places, and the rest are paid admission. The interest and popularity of NSU is increasing among applicants based on the results of prestigious Olympiads — this is the All-Russian School Olympiad, these are the list Olympiads. Last year, the number of enrolled applicants with such results increased by almost 20%, — noted Alexander.

    In 2025, 2108 budget and 1363 fee-paying places will be available at NSU at all levels of training. In general, the number of places remains at the level of previous years.

    — This year, NSU will have a new category of places for the first time — places financed by industrial partners. Education in these places will be completely free for applicants, with the possibility of receiving a scholarship at the expense of industrial partners, — added Alexander.

    Among the main innovations that await applicants this year:

    — the most noticeable change compared to last year is the abolition of the requirement to provide the original educational document as a prerequisite for enrollment; instead of the original educational document, applicants must submit an application for consent to enrollment;

    — for the first time this year, applicants for master’s and postgraduate programs will be able to use the super service “Online University Admission” and submit documents using the “Gosuslugi” portal; this will expand the geography of applicants;

    — starting with this admissions campaign, universities must designate the maximum number of fee-paying places, which cannot be increased during the admissions campaign;

    — amendments were recently made to the Federal Law on Education, which will allow children of participants in military operations on the territory of the Russian Federation to enroll in places under a separate quota;

    — starting this year, a new type of individual achievements has been introduced for applicants to target quota places — targeted individual achievements; the maximum score that an applicant can receive is 5 points.

    This year, the university will introduce a number of new educational programs that train interdisciplinary specialists and cover promising areas. Among them are the specialty “Medical Cybernetics” and the master’s program “Industrial Pharmacy”. New educational programs are being implemented jointly with the MSU Engineering School, and large companies “Pharmstandard” and “Generium” are industrial partners. New educational programs will be developed on the basis of the infrastructure of the educational and scientific center of the Institute of Medicine and Medical Technologies, which is part of the modern NSU campus, built within the framework of the national project “Youth and Children”.

    Also starting this year, NSU is opening admission to the bachelor’s degree program “Applied Artificial Intelligence”. This program won the federal grant competition for training top specialists in the field of artificial intelligence. The pilot recruitment will consist of 150 students. The program will be implemented with the active participation of industrial partners – Rostelecom and Innotech (T1). Grant support will allow students to study for free and receive scholarships from industrial partners.

    On Faculty of Physics a new Master’s program “Applied Mathematics and Physics” will be implemented. Within its framework, training will be conducted in three profiles – “Space and Special Instrumentation”, “Medical Physics” and “Information Processes and Systems”.

    If we talk about the most popular areas, then the biggest competition is for those with a small number of budget places, for example: linguistics; business informatics; jurisprudence. The competition for them reaches 50 people per place.

    According to the results of the 2024 admissions campaign, the following can be distinguished among the most popular areas of natural science and engineering:

    — Applied Mathematics and Physics — 33.6 people per place (14 people enrolled on a budgetary basis);

    — Computer science and engineering — 27.3 people per place (185 people enrolled on a budgetary basis);

    — Physics. Physical informatics — 14.6 people per place (28 people enrolled on a budgetary basis);

    — Mechatronics and robotics — 13.8 people per place (70 people enrolled on a budgetary basis);

    — Chemistry — 9.9 people per place (65 people enrolled on a budget basis).

    — The interest in NSU from applicants coming from other regions is growing. Thus, last year, out of 2,000 people admitted to bachelor’s and specialist’s degree programs, almost 50% were not from the Novosibirsk Region. Moreover, applicants come not only from neighboring regions, but also from the central part of Russia: from Moscow, St. Petersburg, Ufa, Kaliningrad, Samara and other cities, — Alexander emphasized.

    The university is increasing the number of foreign students, primarily interested in medical, natural science and engineering research areas. Many applicants are from the CIS – Kazakhstan, Tajikistan and Uzbekistan. Among the far abroad countries, the top countries include China, Turkey, Iran and Iraq. This year, a joint educational program for a bachelor’s degree in physics will open with Chongqing University, 60 Chinese students will be accepted.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News

  • MIL-OSI Russia: AI Can Predict Students’ Academic Performance Based on Social Media Subscriptions

    Translation. Region: Russian Federal

    Source: State University Higher School of Economics – State University Higher School of Economics –

    A team of Russian researchers, including scientists from the National Research University Higher School of Economics, used artificial intelligence to analyze 4.5 thousand student subscriptions to VK communities. It turned out that the algorithms can predict with high accuracy who is an excellent student and who has difficulties with their studies. The work was published in the journal IEEE Access.

    A person leaves behind a digital trace – likes, photos, information about listening to music and clicking on links. Even the most careful people can learn a lot from their Internet activity. Some believe that you can not monitor your digital trace and that information on social networks does not affect your professional and personal life. For scientists, open data on the Internet is a subject of research.

    A group of scientists from the National Research University Higher School of Economics, Skoltech, and Tomsk State University collected data on subscriptions of 4,445 students with open profiles to various VKontakte communities. Then, using NLP analyzers (natural language analysis methods), they classified the topics of the communities, assessed the complexity of the texts that students read, and the emotional tone of the content. For each student, the researchers created a digital profile, including preferences and interests. After that, the scientists used machine learning to find a relationship between online activity and academic success.

    The researchers created an algorithm that predicts academic performance based on subscription analysis. In particular, students with high grades are more likely to be subscribed to communities related to science and education topics, where new technologies are discussed and analytical articles are published. Excellent students read more complex texts and show greater interest in discussions and deep analysis of information.

    Low-performing students were more likely to subscribe to entertainment communities that focused on humor, memes, music, and video games. The content of these communities was more likely to display negative emotions and was also less informative than that of higher-performing students.

    “Some of the results surprised us. For example, that students who are interested in art or traveling show excellent academic performance. These hobbies do not interfere with their studies. On the contrary, they seem to help them study better. And active interaction with communities related to part-time work is a marker of low academic performance, which is understandable,” comments Sergey Gorshkov, a postgraduate student. Department of Data Analysis and Artificial Intelligence Faculty of Computer Science National Research University Higher School of Economics.

    Educational organizations can use this approach to identify talented applicants and tailor curricula to specific groups. In addition, subscription analysis can help employers in recruiting, allowing them to find candidates with a high expected level of analytical skills.

    “This study once again reminds us of the need for digital hygiene. For example, in agreements on opening an account at a bank or with a mobile operator, you can see that you give permission to use some information from a social network account linked to your phone number. This can then be used to create a digital profile. Whether you want this is up to you,” says Dmitry Ignatov, head of the Scientific and Educational Laboratory of Models and Methods of Computational Pragmatics at the Faculty of Computer Science at the National Research University Higher School of Economics.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News

  • MIL-OSI Economics: Asian Development Blog: AI-Powered and Asia-Made: Leading the Way with Chip Design and Supply Chain Resilience

    Source: Asia Development Bank

    Asia’s dominance in semiconductor manufacturing is fueling a surge in AI-related exports, underpinned by growing investments in infrastructure and design. While risks from global trade tensions loom, strategic action on domestic innovation and regional cooperation offers a pathway to sustained growth.

    MIL OSI Economics

  • MIL-OSI United Nations: Resilience Maturity Assessment (ReMA) tool

    Source: UNISDR Disaster Risk Reduction

    Whether you are a micro enterprise, a small business, or a global corporation, ReMA tool equips you with the insights needed to measure, improve, and disclose your resilience.

    Start your assessment and build a stronger, more resilient future.

    In an age of increasing uncertainty, organizations across all sectors face new and unforeseen challenges that are becoming business as usual. These challenges can stem from climate change, cyber-crime, fraud, AI advancements, or other sources of disruption that could be transformational or reputational.

    Resilience is vital for any enterprise to survive and thrive in a complex and volatile environment. This ability to adapt and grow amid challenges is not only beneficial for the enterprises themselves, but also extends to impact all their stakeholders and surrounding communities.

    The four levels represent stages of resilience maturity, serving as convenient boundaries to categorize progress.

    However, it’s important to recognize that resilience maturity is fundamentally subjective. You may find your organization performing well in some areas while needing improvement in others. The maturity level you aim for may also vary depending on your organization’s size, complexity, and priorities. Although Levels 1 to 4 are distinct categories, it’s more accurate to view resilience as a continuous spectrum.

    The model allows you to benchmark your own maturity against certain criteria. This generates a benchmark band which you should strive to achieve.

    The ReMA tool uses six operational pillars that are recurrent in resilience practices to assess enterprise maturity.

    “Business, professional associations and private sector financial institutions, including financial regulators and accounting bodies, as well as philanthropic foundations, to integrate disaster risk management, including business continuity, into business models and practices through disaster-risk-informed investments, especially in micro, small and medium-sized enterprises (p. 23).” 

    – Sendai Framework for Disaster Risk Reduction 2015-2030 

    MIL OSI United Nations News

  • MIL-OSI Europe: Silicon Cyprus

    Source: European Investment Bank

    Ioannis Kasinopoulos and his friend Yiannis Zambas set up Electryone AI in 2023 with a “strong belief and no outside financing.” The belief was in their software, which uses artificial intelligence to make batteries that store renewable energy more efficient and profitable. They also believed in the importance of the transition to a clean, green economy. Without external funding, however, belief could only get them so far.

    The two young Cypriots, who had previously been at Meta, McKinsey and Palantir, worked hard to find pre-seed financing and some angel investors from their bases in London and Spain, including Genesis Ventures, a Greek venture capital firm backed by the European Investment Fund. Then they got an unexpected surprise—venture capital financing from their home island, where support for startups has been limited. 33East Venture Capital, a Nicosia-based venture capital fund supported by the Cyprus Equity Fund, started making investments from its €26 million fund this year, and it backed Electryone AI with €400 000 in January.

    “We were very happy to have people from Cyprus being part of this,” says Kasinopoulos, who was born in Nicosia. “We had tried to raise money in Cyprus, but we didn’t really get anywhere. There are companies in the energy space, but they didn’t understand software or venture capital. They wouldn’t take that much risk.”

    For technology and innovation startups in Cyprus, 33East’s new fund could be a gamechanger, reversing a brain drain that has seen talented Cypriots leave, largely for London. Though the Global Entrepreneurship Monitor ranks Cyprus seventh in the European Union for early stage entrepreneurial activity, venture capital investment in Cyprus is scarce, according to a report by the University of Cyprus’s Centre for Entrepreneurship.

    “There has been no formal path for startups to follow, so either companies died or left Cyprus to seek financing,” says Yiannis Eftychiou, one of two 33East cofounders. “There has been a drain of quality talent from Cyprus. But we see a lot of opportunity in Cyprus.”

    MIL OSI Europe News

  • MIL-OSI: Hyperscale Data Subsidiary Ault Capital Group Plans to Launch XRP Lending Platform for U.S. Public Companies in Q3 2025

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, May 29, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its wholly owned subsidiary, Ault Capital Group, Inc. (“ACG”) is planning to launch an enterprise-focused XRP lending platform (the “Platform”) in the third quarter of 2025. The Platform, which will initially be a beta version, is expected to be ACG’s first decentralized finance (“DeFi”) application.

    The Platform will be exclusively available to public companies listed on the New York Stock Exchange, the NYSE American and all three tiers of the NASDAQ Stock Market. Eligible applicants will be able to apply to borrow up to a fixed amount of XRP (each, a “Loan”) on terms and conditions negotiated between the applicant and ACG. Once finalized, the Loan details will be posted on-chain. The Loans are expected to be secured by assets of the applicant and/or convertible into registered shares of common stock of the applicant.

    As the Loans are currently anticipated to be repaid in XRP, ACG expects to utilize XRP futures contracts on the Chicago Mercantile Exchange to hedge market exposure, bringing a different approach to risk management and financial sophistication to cryptocurrency-based lending. The Platform will leverage the XRP Ledger to facilitate fast, low cost, and secure lending, backed by ACG’s recently announced initiative to acquire up to $10 million of XRP.

    ACG is seeking to deliver a secure, compliant and institutional-grade solution for blockchain-based lending. The Platform is part of ACG’s broader initiative to tokenize real-world assets, provide alternative financing solutions to listed companies, and facilitate cross-border settlements using blockchain technology. Additional crypto-financial instruments are expected to be announced in the coming months.

    “We are seeking to build infrastructure that merges traditional finance with blockchain technology,” said Milton “Todd” Ault, III, Executive Chairman of Hyperscale Data. “With the host of enterprise features offered by XRP and the XRP Ledger, institutional borrowers and lenders now have access to integrated hedging and risk management tools as part of their operations.   We look forward to exploring the desire of other publicly traded companies to participate in DeFi transactions that can provide greater transparency, efficiency and security.”

    Hyperscale Data notes that acquisitions of XRP and the development and/or viability of the Platform are subject to various risks and uncertainties, one or more which could result in the planned acquisitions of XRP and the development of the Platform being curtailed, delayed or terminated, including, but not limited to: the volatility in XRP market price; the inability to, or cost prohibitive nature of, adequately hedging market exposure to XRP; the inability of the Company to have sufficient capital to purchase the intended amount of XRP; and regulatory challenges, consents or approvals, if necessary. The Company will continue to monitor market conditions and may increase or decrease its holdings of XRP as it deems appropriate.

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence (“AI”) ecosystems and other industries. Hyperscale Data’s other wholly owned subsidiary, ACG, is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

    Hyperscale Data expects to divest itself of ACG on or about December 31, 2025 (the “Divestiture”). Upon the occurrence of the Divestiture, the Company would solely be an owner and operator of data centers to support high-performance computing services, though it may at that time continue to mine Bitcoin. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

    On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the “Series F Preferred Stock”) to all common stockholders and holders of the Series C Convertible Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the “ACG Shares”). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be stockholders of ACG upon the occurrence of the Divestiture.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network

  • MIL-OSI: Influencer Crypto Costa Opens Short Position on XRP via BYDFi

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, May 29, 2025 (GLOBE NEWSWIRE) — Crypto Costa, a well-known trading educator and content creator, has announced that he is initiating a short position on XRP, drawing notable attention and discussion across the trading community. The position was opened on BYDFi, a globally renowned crypto trading platform where Costa serves as a global brand ambassador.

    XRP Surges Past $2.3 Amid Bullish Momentum

    XRP recently climbed to $2.3, marking a significant rally after clearing a key psychological resistance level. The price movement follows renewed optimism in the broader Ripple ecosystem, fueled by legal progress and sustained investor interest. Trading volumes and social metrics have surged, reflecting growing retail and institutional participation in the asset.

    BYDFi Ambassador Crypto Costa Against the Tide

    While broader sentiment remains optimistic, Costa has taken a contrarian stance by initiating a short-selling strategy against XRP’s rally.

    “I’m starting to scale into a short on #XRP. First short entry at $2.3,” Costa posted on X. “I think the top for this centralized coin is long gone, so I’m planning to hold the short through the upcoming dumps in the coming weeks and months.”

    While Costa’s tone remains provocative, the move has sparked renewed discussion about XRP’s short-term volatility. As a trader, he noted BYDFi’s execution speed, depth of liquidity, and contract infrastructure as factors influencing his choice of platform for this trade.

    About Crypto Costa

    Crypto Costa is recognized for his outspoken market views and educational content across X and YouTube. Known for his contrarian takes, he shares trading insights with a global audience and joined BYDFi as a brand ambassador earlier this year.

    About BYDFi

    Established in 2020, BYDFi has grown to serve over 1,000,000 users across 190+ countries and regions. The platform has been recognized by Forbes as one of the Best Crypto Exchanges & Apps for Beginners of 2025, and offers a full suite of trading products—including spot, perpetual contracts, copy trading, trading bots, and on-chain tools—designed to support both beginners and experienced crypto users.

    BYDFi is committed to providing a world-class crypto trading experience for every user.

    BUIDL Your Dream Finance.

    • Website: https://www.bydfi.com
    • Support email: cs@bydfi.com
    • Business partnerships: bd@bydfi.com
    • Media inquiries: media@bydfi.com

    Twitter( X ) | LinkedIn | Telegram | YouTube | How to Buy on BYDFi

    Photos accompanying this announcement are available at: 

    https://www.globenewswire.com/NewsRoom/AttachmentNg/445ba42c-a6e0-4f63-b56b-e4243bd0f2d7

    https://www.globenewswire.com/NewsRoom/AttachmentNg/1c78e22a-1dca-4cd4-9368-678f28badf30

    The MIL Network

  • MIL-OSI: Zeo Energy Corp. to Acquire Heliogen, Inc., Expected to Create a Clean Energy Platform for Residential, Commercial, and Utility Markets

    Source: GlobeNewswire (MIL-OSI)

    Acquisition Seeks to Combine Zeo’s Solar Energy Platform with Heliogen’s Advanced Clean Storage Solutions

    Transaction Represents Culmination of Heliogen’s Comprehensive Strategic Alternatives Review Process

    NEW PORT RICHEY, Fla. and PASADENA, Calif., May 29, 2025 (GLOBE NEWSWIRE) — Zeo Energy Corp. (Nasdaq: ZEO) (“Zeo Energy,” or “Zeo”), a leading Florida-based provider of residential solar and energy efficiency solutions, and Heliogen, Inc. (OTCQX: HLGN) (“Heliogen”), a provider of on-demand clean energy technology solutions, today announced they have entered into a definitive agreement and plan of merger and reorganization (the “Merger Agreement”) pursuant to which Zeo will acquire all of Heliogen’s outstanding equity securities in an all-stock transaction. The transaction is currently expected to close in the third quarter of 2025, subject to customary closing conditions.

    Following the closing of the transaction, Zeo plans to leverage Heliogen’s solutions, brand, intellectual property, capital, and technical talent to establish a division focused on long-duration energy generation and storage for commercial and industrial-scale facilities, including artificial intelligence (AI) and cloud computing data centers. The transaction is expected to create a robust clean energy platform spanning residential, commercial, and utility-scale markets, supported by internal financing capabilities and domain expertise.

    Management Commentary

    “Heliogen brings a set of practical solutions to customers, particularly data centers, looking for longer duration energy storage with substantially lower costs than alternatives on the market,” said Tim Bridgewater, CEO of Zeo Energy. “Through this acquisition, we believe that Zeo will be able to accelerate our vision of serving energy consumers across the spectrum – from residential rooftops to larger-scale industrial solar and storage applications to build an energy platform at scale.”

    “We believe this combination offers a compelling opportunity for Heliogen stockholders through the opportunity to participate in the substantial growth potential of the combined company,” added Christiana Obiaya, CEO of Heliogen. “We believe that Zeo’s proven track record and network of customers can enhance the value creation opportunities for Heliogen’s solutions and technical capabilities, while enhancing liquidity for stockholders. We’re proud to be joining forces to scale practical, dispatchable clean energy solutions. This transaction is the result of the Heliogen Board’s comprehensive review of strategic alternatives. Our Board is unanimous in its belief that this transaction is the optimal path forward and in the best interest of our stockholders.”

    Strategic Rationale

    • Expanded Market Reach: The transaction unites Zeo’s existing residential solar and storage footprint with Heliogen’s long-duration energy storage expertise. Heliogen’s commercial and utility-scale thermal storage solutions address mission-critical power quality and energy capacity issues faced by AI and cloud computing data centers, while concurrently aiding grid stability.
    • Operational Synergies: The transaction is expected to streamline costs and reduce corporate overhead, while retaining core technical and commercial talent.
    • Strengthened Balance Sheet: At close, Zeo anticipates benefiting from Heliogen’s incremental liquidity, supporting investments for future growth in the solar and energy storage space.
    • Enhanced Financing Capabilities: Zeo’s affiliated financing arm, which has provided over $44 million in clean energy tax equity financing to date, has the ability to be used for future Heliogen utility-scale and long-duration energy storage projects.
    • Accelerated Growth Opportunities: The transaction seeks to position Zeo to capitalize on increasing demand for resilient, cost-effective, low-carbon energy infrastructure, supported by favorable long-term tailwinds and potential tax equity investments.

    Transaction Details and Closing Timeline

    Under the terms of the Merger Agreement, upon the closing of the transaction, Heliogen’s securityholders will receive shares of Zeo’s Class A common stock valued at approximately $10 million in the aggregate, based on a Zeo Class A common stock price of $1.5859 per share, and subject to an adjustment mechanism based on Heliogen’s net cash at the closing.

    The proposed transaction has been unanimously approved by the Board of Directors of both companies and is expected to close in the third quarter of 2025, subject to the satisfaction of customary closing conditions, including approval by Heliogen’s stockholders, as well as Heliogen having a specified minimum amount of net cash at the closing. Certain Heliogen stockholders holding approximately 23% of Heliogen’s outstanding shares of common stock have entered into voting agreements, pursuant to which they have agreed, among other things, to vote all of such shares in favor of the proposed transaction. The proposed transaction will not require the approval of Zeo’s stockholders under Nasdaq rules.

    Advisors

    Piper Sandler & Co. is acting as financial advisor and Ellenoff Grossman & Schole LLP is acting as legal counsel to Zeo.

    Pickering Energy Partners is acting as financial advisor and Cooley LLP is acting as legal counsel to Heliogen.

    About Zeo Energy Corp.

    Zeo Energy Corp. is a Florida-based regional provider of residential solar, distributed energy, and energy efficiency solutions. Zeo Energy focuses on high-growth markets with limited competitive saturation. With its differentiated sales approach and vertically integrated offerings, Zeo serves customers who desire to reduce high energy bills and contribute to a more sustainable future. For more information on Zeo Energy Corp., please visit www.zeoenergy.com.

    About Heliogen, Inc.

    Heliogen (OTCQX: HLGN) is a renewable energy technology company that provides solutions for delivering cost-effective, low-carbon energy production around the clock. By combining commercially proven solar technologies with thermal systems expertise, Heliogen supports customers in achieving a practical transition to cleaner energy. For more information about Heliogen, please visit www.heliogen.com.

    Forward-Looking Statements

    This press release contains certain forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended (the “Securities Act“), and Section 21E of the Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to Zeo and/or Heliogen. Such statements may include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, such as statements regarding the structure, timing, and completion of the proposed transaction between Zeo and Heliogen and the vision, goals, and trajectory of Zeo following the proposed transaction. The words “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar references to future periods may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts, and assumptions, and involve a number of judgments, risks, and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing Zeo’s or Heliogen’s views as of any subsequent date, and neither Zeo nor Heliogen undertakes any obligation to update such forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, Zeo’s Heliogen’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: the occurrence of any event, change, or other circumstances that could give rise to the right of one or both of Zeo or Heliogen to terminate the Merger Agreement; the possibility that the proposed transaction does not close when expected or at all because the conditions to closing are not satisfied on a timely basis or at all, including the failure to timely obtain stockholder approval for the proposed transaction from Heliogen’s stockholders, if at all; the possibility that the anticipated benefits of the proposed transaction are not realized when expected or at all; the possibility that the vision, goals, and trajectory of Zeo following the proposed transaction are not timely achieved or realized, if at all; the possibility that the integration of the two companies may be more difficult, time-consuming, or costly than expected; the possibility that the proposed transaction may be more expensive or take longer to complete than anticipated, including as a result of unexpected factors or events; the outcome of any legal proceedings that may be instituted against Zeo, Heliogen or others related to the proposed transaction; Zeo’s or Heliogen’s success in retaining or recruiting, or changes required in, its officers, key employees, or directors; Zeo’s ability to maintain the listing of its common stock and warrants on Nasdaq; limited liquidity and trading of Zeo’s or Heliogen’s securities; geopolitical risk and changes in applicable laws or regulations; the possibility that Zeo or Heliogen may be adversely affected by other economic, business, and/or competitive factors; operational risk; litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on Zeo’s or Heliogen’s resources; and other risks and uncertainties, including those included under the heading “Risk Factors” in Zeo’s and Heliogen’s Annual Reports on Form 10-K filed with the SEC for the year ended December 31, 2024 and in subsequent periodic reports and other filings with the SEC. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by Zeo or Heliogen, or their respective directors, officers or employees or any other person that Zeo or Heliogen will achieve their objectives and plans in any specified time frame, or at all.

    Additional Information and Where to Find It

    In connection with the proposed transaction, Zeo and Heliogen intend to file relevant materials with the U.S. Securities and Exchange Commission (the “SEC”), including a registration statement on Form S-4 (the “Registration Statement”), which will include a proxy statement of Heliogen that will also constitute a prospectus of Zeo with respect to the shares of class A common stock of Zeo to be issued in the proposed transaction (the “proxy statement/prospectus”). After the Registration Statement has been declared effective by the SEC, a definitive proxy statement/prospectus will be mailed to stockholders of Heliogen. This press release is not a substitute for any registration statement or proxy statement/prospectus, or other documents Zeo and/or Heliogen may file with the SEC in connection with the proposed acquisition. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, STOCKHOLDERS AND INVESTORS OF HELIOGEN AND ZEO ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AND ANY OTHER DOCUMENTS FILED BY HELIOGEN AND/OR ZEO WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE THEREIN BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. The Registration Statement, the proxy statement/prospectus and other documents filed by Zeo and Heliogen with the SEC, when filed, will be available free of charge at the SEC’s website at www.sec.gov. In addition, investors and shareholders will be able to obtain free copies of the proxy statement/prospectus and other documents filed with the SEC by Heliogen online at investors.heliogen.com, and will be able to obtain free copies of the Registration Statement, proxy statement/prospectus and other documents filed with the SEC by Zeo online at investors.zeoenergy.com.

    Participants in the Solicitation

    This press release is not a solicitation of proxies in connection with the proposed transaction. However, under SEC rules, Heliogen, Zeo and certain of their respective directors, executive officers and other members of their management and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the interests of Heliogen’s directors and executive officers and their ownership of Heliogen’s stock is set forth in Heliogen’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on March 27, 2025 (the “2024 Heliogen 10-K”). Information regarding the interests of Zeo’s directors and executive officers is set forth in Zeo’s Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on May 28, 2025 (the “2024 Zeo 10-K”). To the extent that either Zeo’s or Heliogen’s directors and executive officers and their respective affiliates have acquired or disposed of security holdings since the “as of” date indicated in the 2024 Zeo 10-K or 2024 Heliogen 10-K, such transactions have been or will be reflected on Statements of Change in Ownership on Form 4 or amendments to beneficial ownership reports on Schedule 13D filed with the SEC.

    Additional information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be included in the proxy statement/prospectus relating to the proposed acquisition when it is filed with the SEC. These documents (when available) may be obtained free of charge from the SEC’s website at www.sec.gov, from Heliogen’s website at https://investors.heliogen.com/ and from Zeo’s website at https://investors.zeoenergy.com/.

    No Offer or Solicitation

    This press release is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy or sell any securities or the solicitation of any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act, or in a transaction exempt from the registration requirements of the Securities Act.

    Zeo Energy Corp. Contacts

    For Investors:
    Tom Colton and Greg Bradbury
    Gateway Group
    ZEO@gateway-grp.com

    For Media:
    Zach Kadletz
    Gateway Group
    ZEO@gateway-grp.com

    Heliogen Contacts

    Investors Contact:
    Phelps Morris
    Chief Financial Officer
    Phelps.Morris@heliogen.com

    Heliogen Media Contact:
    Cory Ziskind
    ICR, Inc.
    HeliogenPR@icrinc.com

    The MIL Network

  • MIL-OSI USA: West Hawaiʻi Island Welcomes Free, Public Preschool Classroom

    Source: US State of Hawaii

    West Hawaiʻi Island Welcomes Free, Public Preschool Classroom

    Lt. Governor Sylvia Luke Visits New Public Pre-K Serving South Kona Families

    Lt. Gov. Luke and Sen. Dru Kanuha visit with pre-K students at Hoʻokena Elementary.

    Link to Hoʻokena Elementary Photos
    Link to Hoʻokena Elementary B-Roll Video


    KONA, HAWAIʻI — This month, some of Big Island’s youngest learners were joined by special guests as Lieutenant Governor Sylvia Luke visited a new public pre-kindergarten classroom at Hoʻokena Elementary School. Luke, who leads the state’s
    Ready Keiki initiative to expand access to preschool statewide, was joined by Senator Dru Kanuha.

    The new classroom at Hoʻokena Elementary is the second public preschool to open on West Hawaiʻi Island since the launch of Ready Keiki in January 2023.

    “Expanding preschool access on the Big Island and in rural communities is about equity and opportunity for both our keiki and their families,” said Lieutenant Governor Sylvia Luke. “When parents have reliable, high-quality early learning options close to home, they can stay in the workforce, support their families, and choose the care that best fits their needs. It’s about giving local families real options and making sure every community has the resources to thrive.”

    These new classrooms not only support young learners but also help strengthen local communities and give local families a reason to stay and raise their children in Hawaiʻi.

    “Giving our keiki in West Hawaiʻi the right start means building a strong foundation for learning and growth,” said Senator Dru Kanuha (District 3 – Kona, Ka‘ū, Volcano). “This new preschool classroom at Hoʻokena Elementary is an investment in our children’s future, and I’m grateful to Lieutenant Governor Sylvia Luke for expanding access to pre-K in rural communities like South Kona. The Ready Keiki initiative is opening doors for local families.”

    EOEL Public Pre-K Program Campuses on Hawaiʻi Island:

    Chiefess Kapi’olani Elementary

    Hilo Union Elementary

    Hōnaunau Elementary

    Honoka’a Elementary

    Hoʻokena Elementary School

    Kahakai Elementary School

    Kea’au Elementary

    Keonepoko Elementary

    Kohala Elementary

    Konawaena Elementary

    Mountain View Elementary

    Nāʻālehu Elementary School

    Pa’auilo Elementary and Intermediate School

    Pāhoa Elementary

    Waimea Elementary School

    The Executive Office on Early Learning (EOEL) is now accepting applications for the 2025–2026 school year. Children must be 3 or 4 years old on or before July 31 of the school year for which they are applying.

    • March 3–June 30: Priority enrollment period. Preference is given to children who live in the geographic area of the school.

    • July 1–End of school year: Open enrollment.

    MIL OSI USA News

  • MIL-OSI: Heron Power Raises $38M Series A to Accelerate an All-Electric Future

    Source: GlobeNewswire (MIL-OSI)

    Today’s electricity infrastructure can’t meet surging energy demand, holding back the electric economy and driving energy bills higher

    Founded by longtime Tesla SVP and backed by leading VCs, Heron Power is developing cheaper, faster and smarter hardware solutions for renewable energy and data centers to connect to the grid 

    SCOTTS VALLEY, Calif., May 29, 2025 (GLOBE NEWSWIRE) — Heron Power, an energy infrastructure company, today announced that it raised $38 million in Series A funding led by Capricorn Investment Group’s Technology Impact Fund, with participation from Breakthrough Energy Ventures, Energy Impact Partners, Gigascale Capital, Powerhouse Ventures, Valor Equity Partners, Tesla co-founder JB Straubel, and former Tesla CFO Zach Kirkhorn. The round brings the total funding raised by Heron Power to $43 million. The company is developing industrial power electronics purpose-built for the 21st-century grid, helping the electricity sector to grow faster with scalable, reliable and software-integrated infrastructure. Heron Power will use the new funding to expand its team and complete engineering of the Heron Link, a solid-state transformer solution displacing legacy transformers and power converters.

    Over the last decade, technologies like solar, batteries, and data centers have scaled faster than anyone imagined—growing from a few gigawatts in 2014 to more than 500 GW in 2024, equivalent to roughly two-thirds of the U.S. peak demand. But while energy technologies have leapt forward, the equipment connecting them to the grid hasn’t changed in a century.

    Today’s outdated medium-voltage transformers (MVTs) are massive, built with 10 tons of grain-oriented electrical steel and copper submerged in oil, and designed for a one-way, analog grid. They offer no real-time control, can’t regulate voltage or frequency, and can’t adapt to dynamic grid conditions. Now, as energy demand surges, transformers have become a critical bottleneck: lead times stretch up to 24 months, U.S. manufacturing meets less than 20% of demand, and prices have spiked 60-80% since 2020.

    “We’re at an inflection point where clean, abundant energy is ready to come online—but grid interconnection challenges hold us back,” said Drew Baglino, Founder and CEO of Heron Power. “Heron Power aims to bridge that gap. With electrification on a path to triple electricity demand and AI’s exponential need for power, we’re moving fast on the opportunity to modernize the grid with more capable hardware.”

    Heron Power’s first product, the Heron Link, deletes the legacy transformer and connects directly to medium voltage. It is a modular megawatt-scale power converter built on the latest advances in wide-bandgap semiconductors. Designed for high power density and ease of maintenance, it offers greater reliability and lower costs for renewable, energy storage, and data center developers. With integrated voltage and frequency regulation, Heron Link also enhances grid stability—helping to prevent cascading outages like the one in Spain in early 2025.

    Heron Power has partnerships with major energy and datacenter developers. The company is targeting an internal pilot in 2026, partner installations in early 2027, and plans to manufacture Heron Link in the US. The team brings deep technical expertise, having collectively designed and deployed over 80 gigawatts of grid-connected power electronics over the past decade. 

    “Power electronics innovation brings the power of ‘Moore’s law’ to energy,” said Dipender Saluja, co-managing partner of Capricorn’s Technology Impact fund. “For two decades, we’ve sought out and invested in transportation, aviation, electronics, materials and energy companies with innovative power electronics at the core of their products. Heron Power’s team is singularly impressive: they have the technical depth, execution experience, and clarity of intention to reinvent utility-scale power electronics.”

    About Heron Power

    Heron Power Electronics Company is developing industrial power electronics purpose-built for the 21st-century grid, helping the electricity sector to grow faster with scalable, reliable and software-integrated infrastructure. Its modular solid state transformer technology enables renewable energy, storage, and datacenter developers to directly connect to medium voltage transmission without the use of a transformer. Led by founder and CEO Drew Baglino, the Scotts Valley, CA-based company combines expertise in power electronics, software, and high-volume manufacturing. For more information, visit www.heronpower.com.

    Media Contact

    press@heronpower.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1ce02aff-c8e9-47f7-a919-f99d440e7ea2

    The MIL Network

  • MIL-OSI Russia: SPbGASU presented its developments at the VI International Transport Festival “TransportFest”

    Translation. Region: Russian Federal

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering – Development by Ekaterina Shatalova: experience in managing the homogeneity of a gas-air mixture

    Saint Petersburg State University of Architecture and Civil Engineering took part in the VI International Transport Festival “TransportFest”. As part of the business program on May 23, students and teachers of the Automobile and Road Engineering Faculty made presentations, presented their projects and research papers.

    At the technology session of the Children’s Automobile Forum (DAF-2025), student Mikhail Smetanin presented the development of power frame elements for special vehicles, carried out under the supervision of Associate Professor of the Department of Technical Operation of Vehicles Sergei Vorobyov.

    “The Keystone Auto company, which is a distributor of ALTAI brand trucks, set a technical task: to develop a power frame for a category No. 2 vehicle with a total load capacity of 12 tons, designed for the installation of special garbage collection superstructures. The department team completed the work on designing the power frame. The results have been implemented in the production process, and soon we will see these vehicles on the streets of our city,” said Sergey Vorobyov.

    Students Alena Isaeva, Dmitry Aleksandrov, Anastasia Tikhomirova and Andrey Garin (supervisor – postgraduate student Evgeny Trofimov) presented a report entitled “Safety, durability, storability, and maintainability of a traction battery using the example of a category 2 vehicle.”

    As Anastasia Tikhomirova explained, a traction battery is a battery designed to ensure continuous operation of a vehicle. Unlike starter batteries, it is designed for deep discharges (long-term operation) and multiple charge cycles. A category 2 vehicle is a truck with a gross weight of 3.5 to 12 tons.

    “Motor transport remains the main danger on the roads, many accidents happen every day. Given the growing number of electric vehicles and the active development of infrastructure for electric transport, the relevance of our project lies in the safety and operational reliability of such vehicles, increasing the service life of the battery and the convenience of its maintenance. We are successfully engaged in the conversion of vehicles to electric traction, previously we have already produced “Eletromus” vehicles and an electric tow truck based on MAN TGL 12.250,” said Anastasia Tikhomirova.

    Students Maria Raski and Ekaterina Shatalova presented a report entitled “Increasing the efficiency of using natural gas as a motor fuel in a gas-diesel engine”.

    “Our faculty conducts research related to the use of alternative fuels. We began studying the use of natural gas as a motor fuel in a gas-diesel engine in September 2024. Expanding the use of natural gas as a motor fuel is a hot topic, and according to the energy strategy of the Russian Federation until 2050, the volume of natural gas (methane) consumption should increase 15 times. In Russia, gas buses are becoming more common, as manufacturers strive to reduce emissions and improve the environmental sustainability of public transport. In the process of studying this topic, we identified several problems associated with the use of gas-diesel engines. The main problems include low efficiency and increased fuel consumption,” said Ekaterina Shatalova.

    To improve the efficiency of gas-diesel engines, students proposed the following approaches:

    Increasing mixture homogeneity: Optimizing the process of mixing gas and air can lead to more complete combustion and reduce energy losses; Reducing gas losses during valve overlap: Improving the design of valves and the control system can reduce leaks and improve the overall efficiency of the engine; Switching to a gas-diesel cycle: Studying and implementing a gas-diesel cycle, which combines the advantages of both gas and diesel fuel, can significantly improve efficiency and reduce consumption.

    Young researchers are confident that these measures can improve the performance of gas-diesel engines and will help to more widely introduce natural gas as an alternative motor fuel.

    The architecture of building a sustainable transport system based on a planned-cyclical development strategy is the focus of attention of student Ivan Beshentsev (project manager – Deputy Head of the Department of Information Technologies and Intelligent Systems of St. Petersburg State Unitary Enterprise “Gorelectrotrans” Alexander Figichev).

    “The concept of a sustainable transport system is inextricably linked with a planned-cyclical development strategy. Sustainability implies a well-coordinated interaction of all elements of the city’s transport framework – urban development belts, infrastructure, corridors and routes. For convenience, I have combined them into one pyramid. Each level has its own goal setting and takes on a certain transport load. Thus, the system as a whole is sustainable, and in order to maintain this sustainability in the long-term equivalent, it is necessary to apply a planned-cyclical development strategy. That is, pre-determined volumes of infrastructure necessary for sustainable development are introduced annually – primarily for electric transport,” the student explained.

    According to Ivan Beshentsev, the cyclicality concerns the implementation of repair work: each infrastructure facility has a certain life cycle, which is assessed based on the infrastructure load. In St. Petersburg, this cycle is 25 years, and every year 24 km of infrastructure for electric transport is updated (we have 600 km in total). If less is repaired, the wear and tear of the infrastructure will be unacceptable for current operation. If more, this will negatively affect the transport situation.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News

  • MIL-OSI United Kingdom: UK to deliver pioneering battlefield system and bolster cyber warfare capabilities under Strategic Defence Review

    Source: United Kingdom – Executive Government & Departments

    Press release

    UK to deliver pioneering battlefield system and bolster cyber warfare capabilities under Strategic Defence Review

    Defence Secretary announces new Cyber and Eletromagnetic Command and £1 billion investment in pioneering battlefield system.

    Defence Secretary John Healey personnel at MoD Corsham. MoD Crown Copyright.

    • More than £1 billion to be invested in pioneering ‘Digital Targeting Web’ to spearhead battlefield engagements, applying lessons learnt from Ukraine to the UK Armed Forces. 
    • New Cyber and Electromagnetic Command will oversee cyber operations for Defence as careers pathway accelerated.
    • Innovation delivers on the Government’s Plan for Change by bolstering national security and creating skilled jobs. 

    Pinpointing and eliminating enemy targets will take place faster than ever before, as the Government invests more than £1 billion to equip the UK Armed Forces with a pioneering battlefield system.

    A new Cyber and Electromagnetic Command will also be established to put the UK at the forefront of cyber operations as part of the Strategic Defence Review (SDR). The announcements were made by Defence Secretary, John Healey MP on a visit to MOD Corsham, the UK military’s cyber HQ. 

    The Ministry of Defence will develop a new Digital Targeting Web to better connect Armed Forces weapons systems and allow battlefield decisions for targeting enemy threats to be made and executed faster. 

    This pioneering digital capability will give the UK a decisive advantage through greater integration across domains, new AI and software, and better communication between our Armed Forces. As an example, a threat could be identified by a sensor on a ship or in space before being disabled by an F-35 aircraft, drone, or offensive cyber operation.

    This follows the Prime Minister’s historic commitment to increase defence spending to 2.5% of GDP, recognising the critical importance of military readiness in an era of heightened global uncertainty. 

    Delivering this new Digital Targeting Web is central to UK efforts to learn lessons directly from the front line in Ukraine. When the Ukrainians achieved a step-change in lethality early in the war – by being able to find the enemy, target them and attack quickly and at scale – it allowed them to stop the encircling Russian advance. 

    The Ministry of Defence will establish a Cyber and Electromagnetic Command. It will sit under General Sir James Hockenhull’s Command and follows the MOD having to protect UK military networks against more than 90,000 ‘sub-threshold’ attacks in the last two years. The Command will lead defensive cyber operations and coordinate offensive cyber capabilities with the National Cyber Force. 

    The new Command will also harness all the Armed Forces’ expertise in electromagnetic warfare, helping them to seize and hold the initiative in a high-tempo race for military advantage – for example, through degrading command and control, jamming signals to drones or missiles and intercepting an adversary’s communications. 

    The announcements come as part of the publication of the SDR, expected imminently, which highlights how daily cyber-attacks are threatening the foundations of the economy and daily life. 

    The SDR sets a path for the next decade to transform defence and make the UK secure at home and strong abroad. It ends the hollowing out of our Armed Forces and will also drive innovation, jobs and growth across the country, allowing the UK to lead a stronger NATO. Enhanced cyber defences will help bolster national security and support economic stability – foundations of the Government’s Plan for Change.

    Defence Secretary John Healey MP said: 

    Ways of warfare are rapidly changing – with the UK facing daily cyber-attacks on this new frontline.

    The hard-fought lessons from Putin’s illegal war in Ukraine leave us under no illusions that future conflicts will be won through forces that are better connected, better equipped and innovating faster than their adversaries. 

    We will give our Armed Forces the ability to act at speeds never seen before – connecting ships, aircraft, tanks and operators so they can share vital information instantly and strike further and faster.

    By attracting the best digital talent, and establishing a nerve centre for our cyber capability, we will harness the latest innovations, properly fund Britain’s defences for the modern age and support the government’s Plan for Change.

    The SDR recommends that the MOD should deliver the Digital Targeting Web by 2027.

    In February, the MOD also announced that Armed Forces recruits will be fast-tracked into specialist roles to tackle the growing cyber threat to the UK via a recruitment scheme. 

    The Cyber Direct Entry programme offers an accelerated path into military cyber roles with:

    • Tailored training focused on essential cyberspace operational skills.
    • Placement in operational cyber roles by the end of 2025.
    • Starting salaries over £40,000, with potential for up to £25,000 in additional skills pay.
    • No requirement to serve in dangerous environments or handle weapons.
    • Full military benefits including medical care, sports facilities, adventure training, and professional development.

    Updates to this page

    Published 29 May 2025

    MIL OSI United Kingdom

  • ‘Make in India’ was key to Operation Sindoor’s success, says Rajnath Singh at CII summit

    Source: Government of India

    Source: Government of India (4)

    Defence Minister Rajnath Singh on Thursday credited the ‘Make in India’ initiative for the successful execution of Operation Sindoor, highlighting indigenous defence production as a cornerstone of India’s national security strategy.

    Speaking at the inaugural plenary session of the Confederation of Indian Industry (CII) Annual Business Summit, Singh said the Indian Armed Forces would not have been able to carry out effective strikes against terrorist camps in Pakistan and Pakistan-occupied Kashmir (PoK) without the country’s strengthened domestic defence manufacturing capabilities.

    Describing ‘Make in India’ as crucial for security and prosperity, the defence minister said that the use of indigenous systems during Operation Sindoor has proved that India “has the power to penetrate any armour of the enemy.”

    “We destroyed terrorist hideouts and then targeted military bases. While we could have done much more, what we demonstrated was a powerful example of coordinated strength and strategic restraint,” he added.

    Singh also noted that, for the first time, private sector firms would be part of India’s ambitious fifth-generation Advanced Medium Combat Aircraft (AMCA) programme – a project approved by him earlier this week.

    The defence minister emphasized that India has redefined its approach to terrorism, forcing Pakistan to recognize that the business of terrorism is no longer cost-effective – it now carries a heavy price. He reiterated that India’s engagement with Pakistan will now be limited strictly to discussions on terrorism and PoK.

    Reaffirming India’s sovereignty over PoK, Singh said, “We believe that people living in PoK will, sooner or later, voluntarily reunite with India.”

    “Prime Minister Narendra Modi-led government is committed to its resolve of Ek Bharat Shreshtha Bharat. Most of the people in PoK have a deep connection with India. There are only a few who have been misled,” he said.

    Singh noted that the government has prioritized indigenization, strategic autonomy, economic resilience, and policy clarity. He urged Indian businesses to align with national interests. “If securing company interests is your karma, then safeguarding national interests should be your dharma,” he told industry leaders.

    Singh highlighted India’s rise as a global economic force, stating that under PM Modi, the country has become the world’s fourth-largest economy.

    “It is not just a matter of the economy growing in size; it is also about the world’s ever-increasing trust in India and its trust in itself,” he said.

    He pointed to a significant transformation in India’s defence sector over the past decade.

    “10-11 years ago, our defence production was approx. Rs 43,000 crore. Today, it has crossed the record figure of Rs 1,46,000 crore, with a contribution of over Rs 32,000 crore by the private sector. Our defence exports, which were around Rs 600-700 crore 10 years ago, have surpassed a record figure of Rs 24,000 crore today. Our weapons, systems, sub-systems, components, and services are reaching around 100 countries. Over 16,000 MSMEs, associated with the defence sector, have become the backbone of the supply chain. These companies are not only strengthening our self-reliance journey, but are also providing employment to lakhs of people,” he said.

    Singh noted that India is now manufacturing not just fighter jets and missile systems, but also preparing for next-generation warfare. “Our progress in areas like Artificial Intelligence, Cyber Defence, Unmanned Systems, and Space-Based Security is being recognised globally,” he said.

    “India has the potential to emerge as a global hub for engineering, precision manufacturing, and advanced technologies,” he added.

    The event was attended by top defence and industry officials, including Chief of Naval Staff Admiral Dinesh K. Tripathi, Chief of the Air Staff Air Chief Marshal A.P. Singh, Defence Secretary Rajesh Kumar Singh, DRDO Chairman Dr. Samir V. Kamat, Vice Chief of Army Staff Lt Gen N.S. Raja Subramani and CII President Sanjiv Puri.

  • MIL-OSI United Kingdom: AAIB Report: Piper PA-18-150, G-CUBX

    Source: United Kingdom – Government Statements

    News story

    AAIB Report: Piper PA-18-150, G-CUBX

    Fatal accident involving a Piper PA-18-150 (G-CUBX), Croft Farm Airstrip (Defford Airfield), Worcester, 27 August 2024

    G-CUBX after repair showing features of the Alaskan Bush fit

    G-CUBX tracked to the left on the runway during takeoff and within two seconds of getting airborne it was in a left turn tracking toward obstacles south of the runway. Witnesses reported seeing the aircraft adopt a steep nose-up attitude, but it was not able to climb above a tree which was one of the obstacles in its path. G-CUBX appeared to have struck the tree at the apogee of its flight path before descending steeply, nose-first, into the ground. The pilot suffered fatal injuries at the point of ground collision.

    It was not possible to conclusively establish why the aircraft diverged left during and after takeoff. Nonetheless, the investigation considered it likely the relatively low lift off speed of approximately 34 kt contributed to the pilot having insufficient aerodynamic control authority to effectively counter the flight path divergence. Being in a turn rather than wings level would have compromised the aircraft’s climb rate resulting in it being unable to climb above the obstacles it was turning toward.

    The investigation was unable to find evidence of any pre-accident fault with the aircraft.

    Read the report.

    Updates to this page

    Published 29 May 2025

    MIL OSI United Kingdom

  • MIL-OSI: Himax Subsidiary Liqxtal Technology Pro-Eye Vision Care Display Makes its Medical Taiwan 2025 Debut

    Source: GlobeNewswire (MIL-OSI)

    TAINAN, Taiwan, May 29, 2025 (GLOBE NEWSWIRE) — Himax Technologies, Inc. (Nasdaq: HIMX) (“Himax” or “Company”), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, and Liqxtal Technology Inc. (“Liqxtal”), a subsidiary of Himax dedicated to developing various liquid crystal optical components with exceptional design expertise, today jointly unveiled the industry’s first patented vision care display — the Liqxtal® Pro-Eye will be showcased at Medical Taiwan 2025, the premier medical and healthcare technology exhibition in the Asia-Pacific region taking place June 5 – 7 at the Taipei Nangang Exhibition Center, Hall 2. Liqxtal® Pro-Eye has already been deployed in multiple engineering projects with leading industry partners targeting applications addressing age-related presbyopia and slowing the progression of myopia for school-aged children, as well as eye comfort during extended viewing times. Alongside the Pro-Eye display, several other products will also be on display that integrate cutting-edge imaging and liquid crystal-based smart optical technologies.

    Liqxtal® Pro-Eye employs patented electrically tunable liquid crystal technology to break beyond the typical 20 to 24-inch viewing distance of conventional computer monitors, projecting a virtual image roughly 16 feet away. This effectively relieves ciliary muscle fatigue, dramatically alleviating eye strain and creating a comfortable, low-effort virtual viewing distance, redefining the interactive experience of personalized displays. Liqxtal’s patented technology is especially suited for seniors and school-age children. It not only eases near-vision strain and eye dryness for individuals with presbyopia but also reduces the risk of axial elongation in children from prolonged close-range reading, thereby helping to delay myopia progression and support vision health.

    Liqxtal® Pro-Eye – Cutting-Edge Patented Vision Care Display

    Dr. Hung Shan Chen, President of Liqxtal, will give a speech entitled “Presbyopia Savior! The Most Comfortable Vision-Care Display for Seniors,” on June 7 at 1:30 p.m. at the main stage where he will dive into the core technologies behind the Liqxtal® Pro-Eye and its revolutionary application scenarios.

    Liqxtal will also showcase a range of other products that combine innovative imaging and smart optical technologies. Among them is the Liqxtal® Dim adaptive lens, which integrates Liqxtal’s exclusive pixelated light valve control with Himax’s WiseEye ultralow power AI sensing technology. Liqxtal® Dim can detect ambient light in real time and adaptively adjust light tuning, making it ideal for smart sunglasses and vision training devices, significantly improving user comfort in both bright sunlight and dim indoor conditions.

    “Liqxtal has been relentlessly advancing liquid crystal-based optical technologies and expanding applications particularly in display and wearable applications. The Pro-Eye display showcased at Medical Taiwan is a prime example,” said Dr. Hung Shan Chen, President of Liqxtal. “With our patented electrically tunable liquid crystal technology, Pro-Eye significantly alleviates the fatigue and dryness associated with extended viewing, delivering unprecedented comfort and visual clarity. Whether for seniors, schoolchildren, or anyone who spends long hours in front of a screen, this truly is a tangible innovation in visual wellness for our digital age.”

    Himax and Liqxtal warmly invite all interested media and professionals to visit Booth P0430 in the “Digital Health Pavilion” first floor of Hall 2 at the Taipei Nangang Exhibition Center. Come experience the Liqxtal® Pro-Eye display and other cutting-edge technologies firsthand and see how liquid crystal-based optics is transforming health-focused display applications.

    About Liqxtal Technology Inc.

    Liqxtal Technology Inc. is a Taiwan based company that has been focused on exploring opportunities with liquid crystal (“LC”) beyond just displays since the company’s inception. With a distinguished track record in liquid crystal optics, Liqxtal has developed liquid crystal based optical components such as LC lens for ophthalmic application, LC diffuser for 3D sensing and LC retarder for light sensing. Additionally, Liqxtal designed and released LQ001, a high voltage & tunable frequency LC driver with a 1mm x 2mm footprint, which is particularly ideal for portable products. As a subsidiary of Himax Technologies, Liqxtal also integrates novel display solutions such as tunable backlight with local dimming capability powered by FPGA for niche applications. Lastly, Liqxtal is dedicated to novel vision eyewear technology and strives to innovate and advance useful optical solutions to the world.

    About Himax Technologies, Inc.

    Himax Technologies, Inc. (NASDAQ: HIMX) is a leading global fabless semiconductor solution provider dedicated to display imaging processing technologies. The Company’s display driver ICs and timing controllers have been adopted at scale across multiple industries worldwide including TVs, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, among others. As the global market share leader in automotive display technology, the Company offers innovative and comprehensive automotive IC solutions, including traditional driver ICs, advanced in-cell Touch and Display Driver Integration (TDDI), local dimming timing controllers (Local Dimming Tcon), Large Touch and Display Driver Integration (LTDI) and OLED display technologies. Himax is also a pioneer in tinyML visual-AI and optical technology related fields. The Company’s industry-leading WiseEyeTM Ultralow Power AI Sensing technology which incorporates Himax proprietary ultralow power AI processor, always-on CMOS image sensor, and CNN-based AI algorithm has been widely deployed in consumer electronics and AIoT related applications. Himax optics technologies, such as diffractive wafer level optics, LCoS microdisplays and 3D sensing solutions, are critical for facilitating emerging AR/VR/metaverse technologies. Additionally, Himax designs and provides touch controllers, OLED ICs, LED ICs, EPD ICs, power management ICs, and CMOS image sensors for diverse display application coverage. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs around 2,200 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan, Germany, and the US. Himax has 2,603 patents granted and 389 patents pending approval worldwide as of March 31, 2025.

    http://www.himax.com.tw

    Forward Looking Statements

    Factors that could cause actual events or results to differ materially from those described in this conference call include, but are not limited to, the effect of the Covid-19 pandemic on the Company’s business; general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortage in supply of key components; changes in environmental laws and regulations; changes in export license regulated by Export Administration Regulations (EAR); exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company’s SEC filings, including those risks identified in the section entitled “Risk Factors” in its Form 20-F for the year ended December 31, 2024 filed with the SEC, as may be amended.

    Liqxtal Contact:
    Henry Hung, Deputy Director of Market & Sales Division
    Liqxtal Technology Inc.
    Tel: +886-6-505-0880
    Email: info@liqxtal.com

    Himax Contacts:
    Karen Tiao, Head of IR/PR
    Himax Technologies, Inc.
    Tel: +886-2-2370-3999
    Fax: +886-2-2314-0877
    Email: hx_ir@himax.com.tw
    www.himax.com.tw

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

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a129e586-9c5f-4f5f-998a-e831ea57972e

    The MIL Network

  • MIL-OSI: XenDex Presale Extension: $XDX Token Still Selling As The Project Team Reveals Investors’ Request For Presale Extension

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, May 29, 2025 (GLOBE NEWSWIRE) — In a dramatic turn of events, XenDex has announced a short extension to its presale following overwhelming requests from late investors. With less than 7% of the $XDX allocation remaining and growing demand, this short extension gives stragglers one last chance to secure tokens before listings go live. The timing is impeccable considering Ripple’s acquisition of Circle and Volatility Shares’ launch of the XRPI Futures ETF have intensified institutional interest in XRP, setting a bullish tone across the ecosystem.

    Buy $XDX Before Listing On Exchanges Soon

    As major buyers scramble to grab the last batch of tokens, the team has confirmed that the presale will not be extended again. $XDX is in discussion to be listed on Binance, BitMart, Gate.io, MagneticX, and FirstLedger, and investors who delay now risk buying at significantly higher post-launch prices.

    What is XenDex on XRP Blockchain?

    XenDex is the first all-in-one decentralized exchange (DEX) built entirely on the XRP Ledger. Designed for speed, security, and scalability, XenDex merges advanced DeFi tools into a clean, user-friendly interface.

    Purchase XDX And Earn Rewards

    Features and Problems XenDex Aims to Solve on XRPL

    XenDex brings long-awaited DeFi functionality to XRP, including:

    • AI Copy Trading – Auto-mirror expert traders and minimize loss
    • Lending & Borrowing – Lend or borrow crypto without intermediaries
    • Cross-Chain Trading – Swap XRP across other blockchain on Solana, Ethereum, BNB, etc.
    • DAO Governance – Token holders vote on upgrades via $XDX

    Why Should I Buy $XDX?

    Holding $XDX gives users:

    • rewards through Staking and liquidity provision
    • Platform fee discounts
    • Early access to features, airdrops, and listings
    • Voting power on future platform decisions and upgrades

    Where Can I Trade $XDX?

    After the presale, $XDX is expected to be available for trading on major exchanges, with active discussions currently underway with Binance, Gate.io, MEXC, BitMart, MagneticX, and FirstLedger

    Purchase $XDX At Its Cheapest Price Before Going Public

    Is XenDex a Legit Project on XRP?

    Yes. Developed by blockchain veterans with roots in Cardano and SUI, XenDex is undergoing full smart contract audits and integrates with Xaman, XRP Toolkit, and Github.

    How Do I Buy $XDX?

    Visit: https://xendex.net/presale
    Rate: 1.25 XRP = 10 XDX
    Minimum Buy: 150 XRP
    Detailed Guide On How To Buy $XDX: https://xdxdocs.gitbook.io

    XenDex Presale Details

    • Soft Cap: Reached
    • Hard Cap: 93% SoldTime Left: 72-Hour Grace Period Only
    • Presale Rate: 150 XRP = 1200 $XDX

    Buy XDX At A Discount Before Pumping Upon Listing on Exchanges: https://xendex.net/presale

    Join XenDex Community Below

    Website: https://xendex.net
    Presale: https://xendex.net/presale
    Telegram: https://t.me/xendexcommunity
    Twitter/X: https://x.com/xendex_xrp
    Docs: https://xdxdocs.gitbook.io

    Contact:
    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.
    Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/90def1a0-c55a-45eb-868a-c8c3060f6431

    The MIL Network

  • MIL-OSI China: Beijing unveils 16 measures to boost AI-driven industry upgrades

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

    Beijing recently rolled out a new action plan to boost AI-driven industry upgrades. Including 16 measures, the plan provides substantial financial incentives for companies that develop industry-leading AI models, provides smart equipment upgrades, and enhances intelligent security systems.

    Specifically, the city plans to establish high-quality industry datasets, improve public data governance services, and support corporate data involvement in AI model training and the development of both industry-specific large models and high-performance intelligent agents.

    Companies creating widely applicable general-purpose intelligent agents that significantly improve manufacturing efficiency can receive subsidies of up to 30 million yuan. Similarly, developers of cutting-edge AI models that achieve domestic or international leadership status may qualify for up to 30 million yuan in support.

    For enhanced simulation and security capabilities, the initiative supports development of testing environments and defensive solutions, offering up to 30 million yuan for influential security platforms. Simulation verification projects designated as municipal or national priorities may qualify for a funding of up to 50 million yuan.

    According to the plan, the city will also support companies in adopting embodied intelligence models, 5G integration, and next-generation robotics. Eligible demonstration equipment and projects can receive up to 30 million yuan in subsidies, while pilot production lines for AI devices, including computers, mobile phones, and wearables, may obtain up to 50 million yuan in subsidies.

    Additionally, the city will expand talent pipelines, enhance consulting services, and provide targeted financial solutions to accelerate AI integration across industrial sectors.

    MIL OSI China News

  • MIL-OSI United Kingdom: Over £7.4 million put back in working people’s pockets by employers

    Source: United Kingdom – Government Statements

    Press release

    Over £7.4 million put back in working people’s pockets by employers

    Employers who have left workers over £7.4 million out of pocket by failing to pay the National Living and National Minimum Wage named.

    • More money put into the pockets of hardworking people, as government delivers the biggest upgrade to worker’s rights in a generation, as part of the Plan for Change
    • Workers will be paid over £7.4 million by employers after nearly 60,000 workers have been left out of pocket.
    • Action builds on recent uplift to the National Living and National Minimum Wage which puts £1,400 into the pockets of workers and families across the UK

    Nearly 60,000 workers who have been left out of pocket will be repaid over £7.4 million the Government has announced today [Thursday 29th May] in its latest move to Make Work Pay.

    This follows a significant uplift to the National Living Wage and National Minimum Wage – putting £1,400 into the pockets of full-time workers on NLW and supporting millions of families across the country – as well as the biggest upgrade to workers’ rights in a generation under the Employment Rights Bill.

    As part of the Plan for Change, this Government’s priority is to grow the economy and raise living standards. A strong economy can only be built when people have financial security whilst in work and robust enforcement action will be taken against employers who do not pay their staff correctly.

    The 518 employers and businesses named today have since paid back what they owe to their staff and faced financial penalties of up to 200% of their underpayment. The investigations by His Majesty’s Revenue and Customs (HMRC) concluded between 2015-2022.

    Minister for Employment Rights, Justin Madders said:

    There is no excuse for employers to undercut their workers, and we will continue to name companies who break the law and don’t pay their employees what they are owed.

    Ensuring workers have the support they need and making sure they receive a fair day’s pay for a fair day’s work is a key commitment in our Plan for Change. This will put more money in working people’s pockets, helping to boost productivity and ending low pay.

    Baroness Philippa Stroud, Chair of the Low Pay Commission, said:

    We welcome today’s publication. Underpayment leaves workers out of pocket and disadvantages the majority of employers who do abide by the rules.

    These naming rounds play an important part in ensuring that all workers receive their full wages and that they are aware there is support for them to ensure that they do.

    Putting more money into the pockets of the lowest paid increases workers’ financial security, offers stability to help increase staff retention and lowers recruitment costs for businesses in the long run.  Whilst not all minimum wage underpayments are intentional, the Government is clear that enforcement action will be taken against employers who do not pay their staff correctly.

    Ahead of permanently lowering tax rates for high street retail, hospitality, and leisure (RHL) from 2026/27, we have prevented the current RHL relief from ending this April, extending it for one year to ensure that over 250,000 RHL properties see a full 40 per cent reduction on their liability, and we have frozen the small business multiplier. 

    Notes to Editors:

    • If workers suspect they are being underpaid, they can visit gov.uk/checkyourpay to find out more about what they can do.
    • Workers can also call the Acas helpline on 0300 123 1100 or visit their website for free, impartial and confidential advice or complain to HMRC at Pay and work rights helpline and complaints
    • The minimum wage law applies to all parts of the UK.
    • Employers should always carry out the necessary checks – see the guidance: Calculating the Minimum Wage
    • HMRC consider all complaints from workers, so workers are being reminded to check their pay with advice available through the Check your pay website
    • National Living Wage and National Minimum wage rates:
    2024 rate 2025 rate
    National Living Wage (21 and over) £11.44 £12.21
    18 to 20 £8.60 £10.00
    Under 18 £6.40 £7.55
    Apprentice £6.40 £7.55
    1. Capita Business Services Ltd, City of London, EC2V, failed to pay £1,154,461.97 to 5,543 workers.
    2. Pizzaexpress (Restaurants) Limited, Croydon, CR0, failed to pay £760,701.61 to 8,470 workers.        
    3. Virtual Marketing Services (Gibraltar) Ltd, Birmingham, B3, failed to pay £478,282.71 to 41 workers.        
    4. L. Rowland & Company (Retail) Limited , Runcorn, WA7, failed to pay £307,342.87 to 2,293 workers.        
    5. Templar Corporation Limited, Lewisham, SE16, failed to pay £298,143.12 to 26 workers.        
    6. Lidl Great Britain Limited, Merton, SW19, failed to pay £286,437.18 to 3,423 workers.        
    7. British Airways PLC, Harmondsworth, UB7, failed to pay £231,276.10 to 2,165 workers.        
    8. Scottish Midland Co-operative Society Limited, Newbridge, EH28, failed to pay £186,883.56 to 1,795 workers.        
    9. Interserve (Facilities Management) Ltd, Lambeth, SE1, failed to pay £177,268.08 to 2,297 workers.        
    10. Prezzo Limited, Woodford Green, IG8, failed to pay £163,702.67 to 2,550 workers.        
    11. Halfords Ltd, Redditch, B98, failed to pay £140,829.79 to 4,341 workers.        
    12. The Southern Co-Operative Limited , Portsmouth, PO6, failed to pay £126,739.33 to 2,300 workers.        
    13. TUI UK Retail Limited, Luton, LU2, failed to pay £107,611.04 to 2,044 workers.        
    14. Heart Of England Co-Operative Society Limited, Coventry, CV6, failed to pay £90,870.95 to 1,017 workers.        
    15. CDS (Superstores International) Limited, Plymouth, PL6, failed to pay £89,158.47 to 1,648 workers.        
    16. Day Lewis PLC, Croydon, CR0, failed to pay £82,819.47 to 604 workers.        
    17. Petrogas Group UK Limited, Ampthill, MK45, failed to pay £63,026.69 to 602 workers.        
    18. Mr Guiseppe Caruso , London, W2, failed to pay £59,780.03 to 2 workers.        
    19. William Strike Limited, Carlisle, CA6, failed to pay £56,657.01 to 798 workers.        
    20. Property Management Services (NI) Limited, Belfast, BT3, failed to pay £54,852.44 to 414 workers.        
    21. Coghlan Lodges Limited, Uxbridge, UB8, failed to pay £52,062.45 to 45 workers.        
    22. Ant Marketing Limited, Sheffield, S2, failed to pay £46,260.65 to 340 workers.        
    23. Maclean Services (L) Limited, London, W2, failed to pay £43,583.26 to 781 workers.        
    24. ABM Aviation UK Limited, Hounslow, TW6, failed to pay £40,243.10 to 880 workers.        
    25. Malvern Tyres (Wholesale) Limited, Gloucester, GL1, failed to pay £39,012.15 to 158 workers.        
    26. Halfords Autocentres Limited, Redditch, B98, failed to pay £38,470.94 to 760 workers.        
    27. J M McGill Ltd, Doncaster, DN4, failed to pay £38,178.62 to 364 workers.        
    28. R.T. Stuart Limited, Methil, KY8, failed to pay £37,384.89 to 310 workers.        
    29. Deluxe Beds Ltd, Huddersfield, HD2, failed to pay £27,233.68 to 64 workers.        
    30. Freedom Hotels West Limited, Nr Fort William, PH49, failed to pay £26,814.06 to 37 workers.        
    31. Mytime Active, Orpington, BR6, failed to pay £26,414.51 to 414 workers.        
    32. Parkdean Resorts UK Limited, Newcastle Upon Tyne, NE12, failed to pay £26,360.91 to 291 workers.        
    33. Whitakers Chocolates Limited, Skipton, BD23, failed to pay £26,183.83 to 141 workers.        
    34. Suttons Tankers Limited, Widnes, WA8, failed to pay £25,631.33 to 35 workers.        
    35. Health Care Resourcing Group Limited, Prescot, L34, failed to pay £25,344.45 to 86 workers.        
    36. Veecare Ltd, Loughton, IG10, failed to pay £23,567.49 to 168 workers.        
    37. Meridian Marlow Ltd, Marlow, SL7, failed to pay £22,993.97 to 66 workers.        
    38. Managing Care Limited, Croydon, CR9, failed to pay £21,834.52 to 83 workers.        
    39. Mr Sri Krishna Ratnasinkam and Mrs Saraswathy Ratnasinkam , Ringmer, BN8, failed to pay £20,504.98 to 1 worker.        
    40. M Buckingham & Company Limited        
    , Maulden, MK45, failed to pay £20,361.01 to 3 workers.        
    41. Regency Hotel (Northern Ireland) Limited, Belfast, BT3, failed to pay £19,952.21 to 201 workers.        
    42. Baxters Food Group Limited, Fochabers, IV32, failed to pay £19,765.00 to 62 workers.        
    43. Thrive Childcare and Education Limited, Musselburgh, EH21, failed to pay £19,420.47 to 24 workers.        
    44. Hillgate Investments Limited, Rotherhithe , SE16, failed to pay £19,358.74 to 40 workers.        
    45. Hilton UK Hotels Limited, Watford, WD24, failed to pay £18,924.07 to 20 workers.        
    46. Oscar Mayer Limited, Chard, TA20, failed to pay £18,830.92 to 172 workers.        
    47. BA Cityflyer Limited, West Drayton, UB7, failed to pay £17,988.39 to 102 workers.        
    48. Crystal Property Cleaning Ltd, Twickenham, TW2, failed to pay £17,767.18 to 1 worker.        
    49. Key Care And Support Ltd, Manchester, M34, failed to pay £17,649.66 to 189 workers.        
    50. Sean Elliott, Ballymena, BT42, failed to pay £17,518.00 to 1 worker.        
    51. YTC Limited, Driffield, YO25, failed to pay £17,194.32 to 226 workers.        
    52. Virtual Marketing Services (Gibraltar) Ltd, Gibraltar, GX11, failed to pay £17,155.36 to 1 worker.        
    53. Wargrave Auto Centre Limited , Hounslow, TW5, failed to pay £17,114.70 to 37 workers.        
    54. Lawrence Davis Design Limited, Stoke On Trent, ST1, failed to pay £16,936.97 to 2 workers.        
    55. BJ Bright Day Nurseries Limited, Doncaster, DN5, failed to pay £16,759.85 to 19 workers.        
    56. Thorntons Limited, Alfreton, DE55, failed to pay £16,449.00 to 444 workers.        
    57. 24/7 Security and Events Ltd, Driffield, YO25, failed to pay £15,962.00 to 74 workers.        
    58. Winemark The Winemerchants Limited, Belfast, BT3, failed to pay £15,738.33 to 186 workers.        
    59. Anochrome Limited, Walsall, WS2, failed to pay £15,600.86 to 49 workers.        
    60. Allen Day Associates Limited, Bidwell, LU5, failed to pay £15,525.26 to 387 workers.        
    61. Equitas Solicitors Limited, Preston, PR2, failed to pay £15,412.15 to 72 workers.        
    62. Kingwood Limited, Wokingham, RG40, failed to pay £15,090.99 to 1 worker.        
    63. The Eastbury (Sherbourne) Limited, Sherborne, DT9, failed to pay £14,813.03 to 7 workers.        
    64. Elmoreton Limited, Belfast, BT7, failed to pay £14,782.81 to 391 workers.        
    65. Elliott Baxter & Company Limited , Farnborough, GU12, failed to pay £14,411.44 to 43 workers.        
    66. MA Bureau Limited, Croydon, CR0, failed to pay £13,226.91 to 6 workers.        
    67. Moto Hospitality Limited, Toddington, LU5, failed to pay £13,164.96 to 734 workers.        
    68. Slo Drinks Limited, Stockport, SK3, failed to pay £12,716.05 to 1 worker.        
    69. The Crown Hotel (Colne) Limited, Colne, BB8, failed to pay £12,642.18 to 2 workers.        
    70. EA Coaching Ltd, Birmingham, B34, failed to pay £12,378.25 to 18 workers.        
    71. Hydes’ Brewery Limited, Salford, M50, failed to pay £12,281.18 to 176 workers.        
    72. Elior UK PLC, Macclesfield, SK11, failed to pay £12,198.61 to 496 workers.        
    73. Savoy Tyres Limited, Kingston Upon Hull, HU8, failed to pay £11,921.60 to 6 workers.        
    74. PK Sales & Lettings Ltd, Greenwich, SE18, failed to pay £11,885.46 to 5 workers.        
    75. Quokka Solutions Ltd, Sunderland , SR5, failed to pay £11,605.84 to 15 workers.        
    76. Elix-Irr Consulting Services Limited, London, EC2V, failed to pay £11,101.13 to 21 workers.        
    77. Go To The Venue Limited, Oswestry, SY11, failed to pay £10,974.19 to 21 workers.        
    78. JWDW Limited, Doncaster, DN4, failed to pay £10,699.64 to 21 workers.        
    79. Mr Stuart Benson, Heywood, OL10, failed to pay £10,600.34 to 1 worker.        
    80. Philip Russell Limited, Belfast, BT6, failed to pay £10,507.58 to 111 workers.        
    81. Energy Kidz Ltd, Wokingham , RG41, failed to pay £10,479.36 to 199 workers.        
    82. ABC Pre-School Limited, Culcheth, WA3, failed to pay £10,393.39 to 16 workers.        
    83. YAM 110 Limited, Bradford, BD8, failed to pay £10,021.48 to 22 workers.        
    84. Lord Charles P Courtenay, Kenton, EX6, failed to pay £9,930.78 to 1 worker.        
    85. React Homecare Ltd, Mansfield, NG21, failed to pay £9,907.42 to 127 workers.        
    86. Lutonestateandlettings Ltd, Luton, LU3, failed to pay £9,887.66 to 4 workers.        
    87. Jill Birt, Bolton, BL5, failed to pay £9,819.79 to 3 workers.        
    88. The House That Jack Built (Day Nursery) Limited, Marlow, SL7, failed to pay £9,810.00 to 8 workers.        
    89. IWE Services Limited, Staxton, YO12, failed to pay £9,803.34 to 3 workers.        
    90. At Home – Specialists in Care Ltd, Pocklington, YO42, failed to pay £9,737.27 to 26 workers.        
    91. Mr Albert Cepa, Chesterfield, S40, failed to pay £9,677.33 to 4 workers.        
    92. Top Gas Heating & Plumbing Limited, Bristol, BS15, failed to pay £9,675.90 to 4 workers.        
    93. Brookfield Retail Ltd, Dewsbury, WF12, failed to pay £9,544.19 to 52 workers.        
    94. Clock House Farm Limited, Maidstone, ME17, failed to pay £9,384.53 to 69 workers.        
    95. Panic Deliveries Limited, Oldbury , B69, failed to pay £9,362.96 to 29 workers.        
    96. Steve Kane Painting & Decorating Limited, Doncaster, DN3, failed to pay £9,317.13 to 11 workers.        
    97. Wine Inns Limited, Belfast, BT3, failed to pay £9,295.35 to 103 workers.        
    98. SOS Homecare Ltd, Stretford, M32, failed to pay £9,186.36 to 293 workers.        
    99. Parkway Derby Limited, Derby, DE24, failed to pay £9,083.64 to 11 workers.        
    100. Lashes Nails and Brows Ltd, Thornton Heath, CR7, failed to pay £9,074.84 to 3 workers.        
    101. Mrs Carol Olsen , Bedlington, NE22, failed to pay £8,988.13 to 25 workers.        
    102. Teddy Bear Nursery Limited, Rochdale, OL16, failed to pay £8,982.22 to 32 workers.        
    103. R.H. Wilson (Chemists) Limited, Blackburn, BB1, failed to pay £8,925.53 to 11 workers.        
    104. Mr James Westcott, Newport, PO30, failed to pay £8,587.49 to 33 workers.        
    105. Mr Orhan Esen, Dumfries, DG1, failed to pay £8,513.17 to 5 workers.        
    106. Waterloo and Taunton Conservative Club, Ashton-Under-Lyne, OL7, failed to pay £8,468.51 to 3 workers.        
    107. Aramark Limited, Leeds, LS16, failed to pay £8,407.77 to 154 workers.        
    108. Mr Mario Wood, Stalybridge, SK15, failed to pay £8,040.26 to 3 workers.        
    109. Mr Paul S Clerehugh T/A , Henley-On-Thames, RG9, failed to pay £8,029.07 to 20 workers.        
    110. Waggon & Horses (Matley) Ltd, Stalybridge, SK15, failed to pay £8,016.08 to 57 workers.        
    111. Rice Solutions Limited, Southport, PR8, failed to pay £7,921.26 to 2 workers.        
    112. UK Hairdressers 2019 Limited, Birmingham, B16, failed to pay £7,870.93 to 13 workers.        
    113. LIBERTY MUSIC PR LTD, Brighton, BN1, failed to pay £7,663.84 to 3 workers.        
    114. Turkuaz Limited, Cheadle, SK8, failed to pay £7,655.93 to 3 workers.        
    115. Belgravia Mews Hotel Limited, South Kensington, SW5, failed to pay £7,646.84 to 14 workers.        
    116. Start Afresh Cleaning Limited, Ipswich, IP1, failed to pay £7,630.05 to 15 workers.        
    117. Mr Atul Patel & Mr Bhikhubhai Patel, Northampton, NN5, failed to pay £7,386.13 to 1 worker.        
    118. K J Curson Growers Limited, Wisbech, PE14, failed to pay £7,311.72 to 11 workers.        
    119. Artico Limited, Monmouth, NP25, failed to pay £7,306.40 to 1 worker.        
    120. Tristan HCW Ltd, Bedford, MK41, failed to pay £7,227.75 to 7 workers.        
    121. Mainstage Festivals Limited, Southwark, SE1, failed to pay £7,089.61 to 4 workers.        
    122. Talash Limited, CV32, failed to pay £7,053.17 to 53 workers.        
    123. J D Wetherspoon Plc, Watford , WD24, failed to pay £7,000.00 to 282 workers.        
    124. Aroma Expresso Bar Limited, London, NW4, failed to pay £6,967.02 to 2 workers.        
    125. Lymedale Motors Limited, Newcastle Under Lyme, ST5, failed to pay £6,859.90 to 3 workers.        
    126. Golders Green Hairdressing Limited, Finchley, NW11, failed to pay £6,846.53 to 10 workers.        
    127. Head Office Hair and Beauty (Scotland) Ltd., Glasgow, G61, failed to pay £6,803.01 to 2 workers.        
    128. The Stair Arms Hotel Ltd, Pathhead, EH37, failed to pay £6,787.54 to 1 worker.        
    129. Springfields Supported Services Limited, Barking, IG11, failed to pay £6,693.35 to 19 workers.        
    130. Network Tyre & Auto Limited, Dartford, DA1, failed to pay £6,529.19 to 7 workers.        
    131. Specialist Computer Centres Plc, Birmingham, B11, failed to pay £6,491.66 to 28 workers.        
    132. Treetops Childrens Nursery Ltd, Blackpool, FY2, failed to pay £6,450.52 to 45 workers.        
    133. McDonald & Munro Limited, Elgin, IV30, failed to pay £6,436.10 to 2 workers.        
    134. Suez Recycling and Recovery UK Ltd, Maidenhead, SL6, failed to pay £6,387.96 to 47 workers.        
    135. Woodhall Capital Limited, London, EC4N, failed to pay £6,294.25 to 1 worker.        
    136. Mr Steven Prested, Meadowfield, DH7, failed to pay £6,207.12 to 1 worker.        
    137. Best Social Enterprise Ltd, London, SE1, failed to pay £6,171.64 to 10 workers.        
    138. The Buck House Limited, Wrexham, LL13, failed to pay £6,101.67 to 1 worker.        
    139. Mahmoud Shaduman Ali , Derby , DE23, failed to pay £6,091.90 to 6 workers.        
    140. Get Your Mobi Limited, Lancaster, LA1, failed to pay £6,069.51 to 8 workers.        
    141. Robertson Facilities Management Limited, Elgin, IV30, failed to pay £5,864.37 to 51 workers.        
    142. Orion Group London Limited, Wandsworth, SW18, failed to pay £5,818.69 to 1 worker.        
    143. Dee Kay Knitwear Ltd, Leicester, LE4, failed to pay £5,801.65 to 38 workers.        
    144. Miss J J Smart, Southampton, SO31, failed to pay £5,778.65 to 1 worker.        
    145. Zhanna Horn, Torquay, TQ2, failed to pay £5,749.66 to 2 workers.        
    146. The Fernlea Hotel Limited, Lytham St Annes, FY8, failed to pay £5,698.56 to 4 workers.        
    147. Gogo and Fried Chicken Limited, Coventry, CV1, failed to pay £5,665.58 to 9 workers.        
    148. Chess People Limited, Alderley Edge, SK9, failed to pay £5,629.12 to 1 worker.        
    149. Building Blocks Day Nursery (NI) Ltd, Toome, BT41, failed to pay £5,576.45 to 45 workers.        
    150. Mr Christopher Owston, North Shields, NE29, failed to pay £5,571.27 to 1 worker.        
    151. LJ Care Homes Ltd, Lincoln, LN4, failed to pay £5,568.84 to 56 workers.        
    152. Crossgates Stop N Shop Ltd, Leeds, LS15, failed to pay £5,545.63 to 4 workers.        
    153. BLFL Services Ltd, Burnham on Crouch, CM0, failed to pay £5,496.06 to 3 workers.        
    154. Mr Nigel Ian Fisher, Romsey, SO51, failed to pay £5,442.49 to 1 worker.        
    155. Mr Mathew James Hicks, Whitchurch, RG28, failed to pay £5,439.43 to 3 workers.        
    156. Old Town Car Wash Ltd, Hastings, TN35, failed to pay £5,422.92 to 5 workers.        
    157. London Street Brasserie Limited, Reading, RG1, failed to pay £5,343.77 to 13 workers.        
    158. Coton Care Limited, Wolverhampton, WV4, failed to pay £5,342.58 to 47 workers.        
    159. Epilepsy Society, Chalfont St Peter, SL9, failed to pay £5,293.99 to 1 worker.        
    160. Premier Work Support Limited, Chatham, ME4, failed to pay £5,272.92 to 428 workers.        
    161. Power Leisure Bookmakers Limited, Hammersmith, W6, failed to pay £5,245.57 to 257 workers.        
    162. Star Lite Jobs Limited, Ilford, IG1, failed to pay £5,237.44 to 67 workers.        
    163. Vivienne Westwood Limited, Wandsworth, SW11, failed to pay £5,232.00 to 1 worker.        
    164. A.P.C. Panels Ltd, Barry, CF63, failed to pay £5,220.60 to 7 workers.        
    165. Ghani Systems Ltd, Glasgow, G42, failed to pay £5,209.68 to 15 workers.        
    166. Taylor Dental Laboratory Limited, Leicester, LE5, failed to pay £5,189.75 to 1 worker.        
    167. MEDS2U Limited, Barnsley, S73, failed to pay £5,057.78 to 8 workers.        
    168. Total Cleaning South Limited, Manston, CT12, failed to pay £5,054.94 to 218 workers.        
    169. Decorative Panels Furniture Limited , Elland, HX5, failed to pay £5,045.43 to 62 workers.        
    170. Supercar Italia Ltd, Westerham, TN16, failed to pay £4,997.94 to 1 worker.        
    171. Miss Gemma Tattersall, Horsham, RH13, failed to pay £4,886.88 to 3 workers.        
    172. Mr Muhammed Afzal Jabarkhail , Clydebank, G81, failed to pay £4,873.12 to 1 worker.        
    173. Mr Shamim Ahmed, Braunton, EX33, failed to pay £4,867.46 to 1 worker.        
    174. Canei International Limited, Nottingham, NG10, failed to pay £4,752.20 to 1 worker.        
    175. Kitty Café Leeds Limited, Leeds, LS1, failed to pay £4,745.99 to 10 workers.        
    176. DES Healthcare Limited, Lincoln, LN5, failed to pay £4,634.94 to 36 workers.        
    177. Lakeside Day Nursery Limited , Swansea, SA6, failed to pay £4,631.93 to 3 workers.        
    178. Zayani Limited, West Drayton, UB7, failed to pay £4,593.39 to 2 workers.        
    179. Eaton Electrical Systems Limited, Doncaster, DN2, failed to pay £4,576.09 to 24 workers.        
    180. Mr Fadhil Omar Ibrahim , Ripley, DE5, failed to pay £4,482.40 to 5 workers.        
    181. Central Garage (Chesham) Ltd, Hyde Heath, HP6, failed to pay £4,416.25 to 1 worker.        
    182. Imperial College of Science, Technology and Medicine, Exhibition Road, SW7, failed to pay £4,372.16 to 1 worker.        
    183. Penrhyn Inns Limited, Oldham, OL4, failed to pay £4,324.94 to 33 workers.        
    184. Everest Hotels Limited, Powys, NP8, failed to pay £4,274.77 to 4 workers.        
    185. Coastal Heating Ltd, Sheringham, NR26, failed to pay £4,267.76 to 1 worker.        
    186. UK Solutions Limited, Chelmsford, CM1, failed to pay £4,267.22 to 28 workers.        
    187. NEO Property Solutions Limited, Leeds, LS9, failed to pay £4,263.52 to 16 workers.        
    188. Mountford House Nursery Limited, Nottingham, NG5, failed to pay £4,195.32 to 1 worker.        
    189. Major Cleaning Services Limited, Potters Bar, EN6, failed to pay £4,194.74 to 25 workers.        
    190. Witham Valeting Ltd, Witham , CM8, failed to pay £4,166.48 to 8 workers.        
    191. Parsons Bakery Limited, Bristol, BS3, failed to pay £4,134.64 to 44 workers.        
    192. Mr Amir Rasool, Langholm, DG13, failed to pay £4,083.79 to 1 worker.        
    193. Grosvenor Concierge Limited  (previously GCS Facility Services Limited), Skegness, PE25, failed to pay £4,056.99 to 120 workers.        
    194. Industrial Cleaning Services (UK) Ltd, Camden, WC1N, failed to pay £4,048.91 to 41 workers.        
    195. Spring Cleaning Services Limited, Cheltenham, GL51, failed to pay £3,989.71 to 16 workers.        
    196. Sunlit Ltd, Lewisham, SE6, failed to pay £3,973.49 to 4 workers.        
    197. Blink Productions Limited, Holloway, N7, failed to pay £3,910.06 to 4 workers.        
    198. DSM Joinery Contractors Limited, Dunfermline, KY11, failed to pay £3,905.50 to 2 workers.        
    199. Fashion Fabric Transprinters Limited, Leicester, LE4, failed to pay £3,779.70 to 2 workers.        
    200. Mrs Imogen Katherine Wyvill, Mr Marmaduke D’Arcy William Wyvill and Mr Marmaduke Charles Astey Wyvill, Leyburn, DL8, failed to pay £3,724.37 to 16 workers.        
    201. Mrs Nalani Carr, Haverhill, CB9, failed to pay £3,702.83 to 1 worker.        
    202. Temple Farm Limited, Ramsgate, CT11, failed to pay £3,696.54 to 57 workers.        
    203. Walker Outboard Services Limited, Reading, RG4, failed to pay £3,647.76 to 1 worker.        
    204. Shah Foods Ltd, Newham, E16, failed to pay £3,638.69 to 2 workers.        
    205. City Office (NI) Ltd, Belfast, BT12, failed to pay £3,622.46 to 2 workers.        
    206. Ms Stacey Baker, Doune, FK16, failed to pay £3,582.87 to 1 worker.        
    207. Joarr Hot Food Emporium Limited, Southport, PR9, failed to pay £3,564.00 to 1 worker.        
    208. St John’s Road Garage Limited, Dartford, DA2, failed to pay £3,525.63 to 1 worker.        
    209. Alanya Catering Ltd, Nottingham, NG1, failed to pay £3,489.42 to 7 workers.        
    210. Care Direct Group Limited, Eastbourne, BN21, failed to pay £3,484.98 to 35 workers.        
    211. Baudelaire Limited, Alresford , SO24, failed to pay £3,454.06 to 1 worker.        
    212. House Of Glamour Limited, East Dulwich, SE22, failed to pay £3,433.06 to 1 worker.        
    213. Oshibori Scotland Ltd, Dundee, DD1, failed to pay £3,328.44 to 5 workers.        
    214. Yatab Company Ltd, Rainham, RM13, failed to pay £3,292.77 to 7 workers.        
    215. Cheeky Monkey Day Nurseries Limited, Birmingham, B15, failed to pay £3,272.93 to 22 workers.        
    216. S & W Developments Limited, Doncaster, DN5, failed to pay £3,253.46 to 1 worker.        
    217. The Lady Cleaner Ltd, Eastbourne, BN23, failed to pay £3,233.28 to 26 workers.        
    218. Mi Casa Care Ltd, Mansfield, NG19, failed to pay £3,221.07 to 23 workers.        
    219. SNC-LAVALIN RAIL & TRANSIT LIMITED, Epsom, KT18, failed to pay £3,212.78 to 11 workers.        
    220. Little Flowers Limited, Renfrew, PA4, failed to pay £3,162.05 to 1 worker.        
    221. Little Ducklings Day Nursery (Garstang) Limited, Preston, PR3, failed to pay £3,157.18 to 1 worker.        
    222. Fresh 75 Limited, Newport, PO30, failed to pay £3,132.90 to 1 worker.        
    223. Excel Parking Services Limited, Sheffield, S9, failed to pay £3,124.95 to 14 workers.        
    224. Mr Simon Foster and Mrs Jane Foster, Skipton, BD23, failed to pay £3,124.66 to 1 worker.        
    225. Mr Daniel Jenkinson , Preston, PR1, failed to pay £3,104.72 to 1 worker.        
    226. Spanners & Sparks (EK) Limited, Glasgow, G75, failed to pay £3,093.15 to 5 workers.        
    227. Central Electrical Contracts Limited, Wolverhampton, WV6, failed to pay £3,086.28 to 5 workers.        
    228. Branded Housewares Limited, Wolverhampton, WV2, failed to pay £3,066.72 to 4 workers.        
    229. Valerie Anne Sheen , Honiton, EX14, failed to pay £3,057.10 to 18 workers.        
    230. Rosebridge Private Day Nursery Limited, Wigan, WN1, failed to pay £3,056.94 to 19 workers.        
    231. Elite Motors Bodyshop Limited, Northampton, NN5, failed to pay £3,055.68 to 8 workers.        
    232. Roux Waterside Inn Limited, Bray, SL6, failed to pay £3,022.52 to 19 workers.        
    233. P.B Services (Wales) Limited, Mountain Ash, CF45, failed to pay £3,008.30 to 2 workers.        
    234. Lostock Hall Academy Trust, Preston, PR5, failed to pay £2,993.98 to 2 workers.        
    235. Taylor Shaw Limited, Macclesfield, SK11, failed to pay £2,958.43 to 2 workers.        
    236. Sage Hair Care (Salons) Limited, Cardiff, CF5, failed to pay £2,938.09 to 3 workers.        
    237. Mr Andrew Petrou, Walworth, SE17, failed to pay £2,907.33 to 1 worker.        
    238. Crystal Car Wash and Valeting Ltd, Loughborough, LE11, failed to pay £2,852.00 to 1 worker.        
    239. KEYSIGNS LIMITED, Bellshill, ML4, failed to pay £2,851.78 to 4 workers.        
    240. Centerplate UK Limited, Camden, WC1B, failed to pay £2,829.64 to 167 workers.        
    241. MN Support Services Limited, Queens Park, W10, failed to pay £2,829.17 to 294 workers.        
    242. Kirklees Active Leisure , Huddersfield, HD1, failed to pay £2,821.46 to 18 workers.        
    243. Marsden Healthcare Limited, Nelson, BB9, failed to pay £2,811.05 to 22 workers.        
    244. Mrs Michelle S Chandler, Birmingham, B44, failed to pay £2,806.72 to 2 workers.        
    245. Jamie Stevens (Kensington) Ltd, Kensington, W8, failed to pay £2,779.88 to 2 workers.        
    246. Filco Supermarkets Limited, Llantwit Major, CF61, failed to pay £2,772.41 to 118 workers.        
    247. AFH Ltd, Cardiff, CF24, failed to pay £2,771.99 to 4 workers.        
    248. Ms Philippa Funnell, Dorking, RH5, failed to pay £2,746.65 to 2 workers.        
    249. Kids at Heart (Harrogate) Limited, Knaresborough, HG5, failed to pay £2,746.08 to 3 workers.        
    250. Sparkle Cleaning Co. (London) Limited, Croydon, CR5, failed to pay £2,732.94 to 25 workers.        
    251. Lexington Catering Limited, Camden, EC4N, failed to pay £2,714.52 to 64 workers.        
    252. What A Hoot Day Nursery Limited, Blyth, NE24, failed to pay £2,712.53 to 4 workers.        
    253. Mr Andy B Fitzsimmons, Mr Ford B Fitzsimmons and Mrs Theresa G Fitzsimmons, Kilwinning, KA13, failed to pay £2,694.78 to 15 workers.        
    254. QSO Ltd, Leeds, LS4, failed to pay £2,675.41 to 10 workers.        
    255. Parkers Pets Limited, Southsea, PO5, failed to pay £2,665.49 to 2 workers.        
    256. Kazoku Restaurant Group Ltd, Sevenoaks, TN13, failed to pay £2,665.15 to 1 worker.        
    257. Madames Hair & Beauty Limited, Swindon, SN3, failed to pay £2,656.41 to 1 worker.        
    258. Acerta Group Limited , Warwick, CV34, failed to pay £2,629.00 to 13 workers.        
    259. London Auto Parts Limited, Wembley, HA0, failed to pay £2,622.17 to 2 workers.        
    260. Killan Structural Limited, Oldham, OL3, failed to pay £2,620.45 to 2 workers.        
    261. Sandersons (N.W.) Ltd, Blackpool, FY4, failed to pay £2,603.82 to 3 workers.        
    262. A & K Home Care Services Ltd, Napton, CV47, failed to pay £2,603.14 to 78 workers.        
    263. Chaplins Hotel Limited, Blackpool, FY1, failed to pay £2,586.56 to 2 workers.        
    264. Calmac Developments Limited, Dumfries, DG2, failed to pay £2,583.77 to 17 workers.        
    265. La Reserve Aparthotel (Manchester) Limited, Manchester, M1, failed to pay £2,567.66 to 13 workers.        
    266. Ultimate Stores Limited, London, NW1, failed to pay £2,560.34 to 4 workers.        
    267. Drayton Manor Resort Limited, Tamworth, B78, failed to pay £2,559.58 to 25 workers.        
    268. Community Foundation, Birmingham, B19, failed to pay £2,500.24 to 2 workers.        
    269. D and G Pub Company Limited, Darlington, DL3, failed to pay £2,498.17 to 35 workers.        
    270. Poplars Blossoms Nursery School Limited, Nottingham, NG5, failed to pay £2,494.39 to 1 worker.        
    271. Vonsung Limited, Islington, EC1Y, failed to pay £2,485.20 to 1 worker.        
    272. Cornish Premier Pasties Limited, Newquay, TR9, failed to pay £2,467.45 to 53 workers.        
    273. The Clansmans Rest Ltd, Glasgow, G40, failed to pay £2,417.22 to 3 workers.        
    274. Natural Care 53 Limited, Manchester, M12, failed to pay £2,412.03 to 1 worker.        
    275. TKE Landscaping Ltd, Wendens Ambo, CB11, failed to pay £2,403.16 to 3 workers.        
    276. Mockingbird Lane Ltd, Glasgow, G11, failed to pay £2,387.07 to 1 worker.        
    277. Mr Patrick G Neilan, Glasgow, G43, failed to pay £2,383.29 to 2 workers.        
    278. Brean Leisure Park Ltd, Berrow, Burnham-on-Sea, TA8, failed to pay £2,371.57 to 12 workers.        
    279. Davidsons Plumbing & Heating Limited , Bristol, BS5, failed to pay £2,349.54 to 4 workers.        
    280. Motor Body Centre Limited, Birmingham, B18, failed to pay £2,346.49 to 1 worker.        
    281. S & S Care (UK) Limited, Caergwrle, LL12, failed to pay £2,340.72 to 49 workers.        
    282. Kelton Nursery, Liverpool, L18, failed to pay £2,334.79 to 10 workers.        
    283. Asset India Limited, Harrow, HA1, failed to pay £2,334.54 to 2 workers.        
    284. Safegas UK Ltd, Swinton, M27, failed to pay £2,277.54 to 1 worker.        
    285. Mert GB 2 Limited, East Ham, E6, failed to pay £2,261.38 to 1 worker.        
    286. Hallwell Projects Ltd, Plymouth, PL1, failed to pay £2,211.32 to 3 workers.        
    287. Mr Andrew Roy Milward, Pembroke Dock, SA72, failed to pay £2,205.31 to 1 worker.        
    288. R & R Retail UK Limited, Luton, LU4, failed to pay £2,201.05 to 16 workers.        
    289. Salon IPS Ltd, Ipswich, IP4, failed to pay £2,189.12 to 1 worker.        
    290. Mr Narinder Kumar Nar, Birmingham, B18, failed to pay £2,173.86 to 2 workers.        
    291. Old Mill Holiday Park Limited, St Helens, PO33, failed to pay £2,172.06 to 1 worker.        
    292. Ms Caroline Wright, Birmingham, B43, failed to pay £2,170.63 to 1 worker.        
    293. Dolphin Care (IOW) Limited, Wroxall Ventnor, PO38, failed to pay £2,155.09 to 6 workers.        
    294. Whistledown Inn Limited, Newry, BT34, failed to pay £2,154.29 to 46 workers.        
    295. Renegade Hair Studio Limited, Leeds, LS2, failed to pay £2,148.74 to 1 worker.        
    296. Lethendy Cheltenham Limited, Cheltenham, GL53, failed to pay £2,144.90 to 44 workers.        
    297. Heminstone Estates Limited, Colchester, CO2, failed to pay £2,137.35 to 10 workers.        
    298. S Leicester Ltd, Leicester, LE5, failed to pay £2,127.17 to 38 workers.        
    299. GB Vape Limited, Heckmondwike, WF16, failed to pay £2,119.82 to 7 workers.        
    300. P McCarthy Limited, Brandon, IP27, failed to pay £2,108.75 to 9 workers.        
    301. K. Foley Limited, Great Blakenham, NR2, failed to pay £2,104.81 to 94 workers.        
    302. AGL Attractions Limited , Burnham-On-Sea, TA8, failed to pay £2,090.06 to 24 workers.        
    303. Techlogico Limited, Knottingley, WF11, failed to pay £2,056.43 to 6 workers.        
    304. Mr Iain Stewart Matheson, Paisley, PA1, failed to pay £2,036.50 to 6 workers.        
    305. GLASGOW WATERLOO LIMITED, Glasgow, G2, failed to pay £2,020.36 to 41 workers.        
    306. R J Ferguson Company Limited, Stewartstown, BT71, failed to pay £2,014.04 to 3 workers.        
    307. Ms Susan Meheux, Southampton, SO31, failed to pay £2,008.66 to 12 workers.        
    308. Mr David Odudu, Sheffield, S9, failed to pay £1,992.53 to 1 worker.        
    309. Mr Hazar Ibrahim Hamid, Doncaster, DN5, failed to pay £1,961.64 to 5 workers.        
    310. M&C Jones Building Contractors Limited, Rhyl, LL18, failed to pay £1,954.46 to 2 workers.        
    311. Hi-Spec Facilities Services Ltd, Dartford, DA2, failed to pay £1,938.75 to 96 workers.        
    312. Calibre Building & Decorating Services Limited, Lichfield, WS13, failed to pay £1,937.89 to 1 worker.        
    313. CPM Electrical Ltd, Omagh, BT79, failed to pay £1,937.71 to 4 workers.        
    314. Ashbrook Roofing & Supplies Limited, Nr Matlock, DE4, failed to pay £1,912.65 to 5 workers.        
    315. Mr Thomas Hutchison, Prestonpans, EH32, failed to pay £1,901.44 to 1 worker.        
    316. Mr Khalid Javid, Chester, CH2, failed to pay £1,891.42 to 1 worker.        
    317. South Golden Mountain Limited, Eastbourne, BN21, failed to pay £1,888.52 to 1 worker.        
    318. Oldbury Grange Nursing Home Ltd, Nuneaton, CV10, failed to pay £1,878.02 to 65 workers.        
    319. OC Electric Limited, Benton, NE12, failed to pay £1,869.32 to 1 worker.        
    320. Seagrave Decorations Limited, Kettering, NN16, failed to pay £1,847.76 to 4 workers.        
    321. Little Angels Fun Club and Nursery Limited, Bedlington, NE22, failed to pay £1,832.96 to 92 workers.        
    322. GAPJ Ivinghoe Ltd, Leighton Buzzard, LU7, failed to pay £1,828.25 to 5 workers.        
    323. Vapour C Co Ltd, Gillingham, ME7, failed to pay £1,822.57 to 2 workers.        
    324. Wide Range Services Limited, Hull, HU12, failed to pay £1,816.72 to 1 worker.        
    325. Hughes (Family Bakers) Holdings Limited, Bradford, BD18, failed to pay £1,811.57 to 26 workers.        
    326. A W Pettitt Limited, Windermere, LA23, failed to pay £1,810.90 to 5 workers.        
    327. Smartway Holding Limited, Holloway, N7, failed to pay £1,800.00 to 1 worker.        
    328. Beaux Health and Wellbeing Ltd, Taunton, TA1, failed to pay £1,791.96 to 1 worker.        
    329. Saggiomo Luxury Foods Limited, Croydon, CR0, failed to pay £1,787.60 to 1 worker.        
    330. John Clark (Holdings) Limited , Aberdeen, AB12, failed to pay £1,785.63 to 5 workers.        
    331. Swiftclean (UK) Limited, Southend-on-Sea, SS2, failed to pay £1,761.48 to 5 workers.        
    332. Reachout Healthcare Limited, Stockport, SK5, failed to pay £1,757.42 to 31 workers.        
    333. Mr Ian T Henderson, Accrington, BB5, failed to pay £1,740.90 to 2 workers.        
    334. Clarke Group Construction Limited, Wyberton, PE21, failed to pay £1,736.49 to 1 worker.        
    335. MRB Cleaning Limited, Swansea, SA1, failed to pay £1,733.88 to 1 worker.        
    336. Mr John Fulton Allen & Mr John Gary King,  Strabane, BT82, failed to pay £1,725.59 to 1 worker.        
    337. Belmont Hotel (Leicester) Limited, Leicester, LE1, failed to pay £1,710.28 to 36 workers.        
    338. Mini Me Private Day Nursery Limited, Newport, NP19, failed to pay £1,708.33 to 15 workers.        
    339. Glow Trade Ltd, Leicester, LE5, failed to pay £1,706.46 to 20 workers.        
    340. Mr Jason Hearn, Taunton, TA1, failed to pay £1,706.12 to 2 workers.        
    341. Country Park Leisure Limited, Hessle, HU13, failed to pay £1,705.13 to 13 workers.        
    342. C & C Precision Engineering Services Limited, Rowley Regis, B65, failed to pay £1,704.30 to 1 worker.        
    343. Karen Jeffrey , Wishaw, ML2, failed to pay £1,683.58 to 4 workers.        
    344. DNA Cleaning Solutions Limited, Twickenham, TW2, failed to pay £1,670.29 to 25 workers.        
    345. Assured Care (Stockport) Ltd., Stockport, SK1, failed to pay £1,666.57 to 79 workers.        
    346. Graylaw International Freight Group Ltd, Skelmersdale, WN8, failed to pay £1,663.46 to 7 workers.        
    347. SPI Trading Limited, Lisburn , BT28, failed to pay £1,656.74 to 3 workers.        
    348. Executive Hire Ltd., Glasgow, G74, failed to pay £1,650.54 to 3 workers.        
    349. Accelerate Cleaning Solutions Ltd, Ipswich, IP7, failed to pay £1,650.38 to 106 workers.        
    350. LGH Plumbing & Heating Services Limited, Leigh, WN7, failed to pay £1,624.77 to 1 worker.        
    351. Samuel Eales Silverware Limited, Sheffield, S3, failed to pay £1,619.79 to 1 worker.        
    352. High Grove Beds Limited, Liversedge, WF15, failed to pay £1,610.43 to 8 workers.        
    353. Shakes n Cakes Aberdeen Ltd, Aberdeen, AB24, failed to pay £1,597.98 to 1 worker.        
    354. Bespoke Cuisine Ltd, Bethnal Green, EC1V, failed to pay £1,587.04 to 1 worker.        
    355. Mascallkelly Limited, Cleveland, TS12, failed to pay £1,576.59 to 19 workers.        
    356. Sher Gill Enterprises Limited, Dunoon, PA23, failed to pay £1,557.58 to 1 worker.        
    357. Ms Hiromi Sato, London, SW4, failed to pay £1,551.71 to 2 workers.        
    358. R.Loughlin Electrical Services Ltd, Castlederg, BT81, failed to pay £1,542.58 to 3 workers.        
    359. Papermoon Nurseries (Boultham Park) Limited, Lincoln, LN6, failed to pay £1,535.25 to 11 workers.        
    360. SB Rom Food Center Ltd, Hounslow, TW3, failed to pay £1,533.80 to 9 workers.        
    361. Mr Robert Pontefract, Stamford, PE9, failed to pay £1,531.55 to 1 worker.        
    362. Grant Leisure Group Limited, Blackpool, FY3, failed to pay £1,495.62 to 15 workers.        
    363. Everbright Lodge Ltd, Llangollen, LL20, failed to pay £1,475.07 to 25 workers.        
    364. Biscuit Clothing Ltd, Edinburgh, EH10, failed to pay £1,469.89 to 1 worker.        
    365. Brockencote Hall Hotel Limited, Leamington Spa, CV33, failed to pay £1,468.25 to 19 workers.        
    366. Mr Francis Joseph McParland and Mr Peter Liam McParland , Armagh, BT61, failed to pay £1,466.04 to 4 workers.        
    367. Colemans Garden Centre Ltd, Templepatrick, BT39, failed to pay £1,450.11 to 35 workers.        
    368. Southcoast Homecare Ltd, Chichester, PO19, failed to pay £1,438.93 to 9 workers.        
    369. Booth & Stirland Limited, Ripley, DE5, failed to pay £1,434.97 to 3 workers.        
    370. Grieve Decor Limited, Berwick Upon Tweed, TD15, failed to pay £1,415.11 to 2 workers.        
    371. Barry Tyre Centre Limited, Barry, CF63, failed to pay £1,408.88 to 1 worker.        
    372. Piddle Brewery Limited, Dorchester, DT2, failed to pay £1,407.79 to 1 worker.        
    373. Forseti Law Ltd, Bolton, BL1, failed to pay £1,403.87 to 1 worker.        
    374. Wash Me Clean Ltd, Bracknell, RG12, failed to pay £1,400.27 to 1 worker.        
    375. Colonnade (Operator) Limited, Little Venice, W9, failed to pay £1,385.11 to 1 worker.        
    376. Mario Gianni Limited, Stockport, SK7, failed to pay £1,378.94 to 3 workers.        
    377. Moyo’s Brothers Limited, Brighton, BN1, failed to pay £1,373.14 to 2 workers.        
    378. Atticus Cleaning Services Limited, Altrincham, WA14, failed to pay £1,364.89 to 1 worker.        
    379. Mrs Jane Boome and Miss Verity Jane Boome, Peterborough, PE7, failed to pay £1,360.84 to 13 workers.        
    380. Get Grip Auto Ltd, Cheltenham, GL53, failed to pay £1,348.25 to 2 workers.        
    381. Downs Holdings Limited, Yarm, TS15, failed to pay £1,339.48 to 8 workers.        
    382. Direct Cleaning Services (Oxford) Limited, Weston-Super-Mare, BS22, failed to pay £1,323.74 to 1 worker.        
    383. Viv Designs Ltd, Gravesend, DA12, failed to pay £1,317.95 to 1 worker.        
    384. Sycamore Farm Park Limited, Skegness, PE24, failed to pay £1,311.54 to 2 workers.        
    385. SMK Building & Joinery Contractors Ltd, Todmorden, OL14, failed to pay £1,297.16 to 1 worker.        
    386. Richard Tate Limited, Leeds, LS10, failed to pay £1,294.02 to 1 worker.        
    387. JDP Hotels Ltd, Wakefield, WF2, failed to pay £1,289.98 to 34 workers.        
    388. Miss Abby Fox, Widnes, WA8, failed to pay £1,270.35 to 10 workers.        
    389. Polish Village Bakery Ltd, Manchester , M17, failed to pay £1,267.37 to 43 workers.        
    390. ENERGY DUNDEE 4 U LTD , Dundee, DD4, failed to pay £1,263.65 to 15 workers.        
    391. Synvestment Ltd, High Wycombe, HP12, failed to pay £1,262.39 to 2 workers.        
    392. Peony Culture Communication Limited, Newcastle Upon Tyne, NE1, failed to pay £1,247.02 to 1 worker.        
    393. Easy Clean Contractors Limited, Peterborough, PE7, failed to pay £1,246.92 to 125 workers.        
    394. R Binks Construction Limited, Bolton, BL2, failed to pay £1,244.33 to 3 workers.        
    395. Mrs Julie Shaw, Knaresborough, HG5, failed to pay £1,231.68 to 20 workers.        
    396. Mrs Karaimjit Gill, Barry, CF63, failed to pay £1,230.73 to 1 worker.        
    397. Mcaleer & McGarrity Ltd, Cookstown, BT80, failed to pay £1,207.77 to 2 workers.        
    398. M.P.M Consumer Products Limited, Manchester, M11, failed to pay £1,205.73 to 32 workers.        
    399. K.L.N. Limited , Brent, NW6, failed to pay £1,203.83 to 2 workers.        
    400. GMD SERVICES LIMITED, Kingston Upon Hull, HU3, failed to pay £1,193.24 to 2 workers.        
    401. C.V.East Ltd, Colchester , CO1, failed to pay £1,185.68 to 7 workers.        
    402. Mr Jonathan Hope and Mr Charlie Hope, Slough, SL3, failed to pay £1,183.12 to 3 workers.        
    403. Belshaw Bookkeeping Services Limited, Bacup, OL13, failed to pay £1,179.76 to 1 worker.        
    404. D Allen Transport Limited, St Helens, WA9, failed to pay £1,178.73 to 4 workers.        
    405. Mrs S & Mr G Clough, Bradford, BD12, failed to pay £1,162.79 to 1 worker.        
    406. Golden Cue Snooker Club Limited, Bilston, WV14, failed to pay £1,147.43 to 1 worker.        
    407. South Wales Building and Construction Limited, Newport, NP11, failed to pay £1,135.47 to 2 workers.        
    408. Form Communal Maintenance Limited, Hartford, CW8, failed to pay £1,131.97 to 1 worker.        
    409. SMS Bars Limited, Stockport, SK1, failed to pay £1,115.11 to 2 workers.        
    410. Grace Construction and Management Ltd, Derby, DE1, failed to pay £1,113.49 to 1 worker.        
    411. Alveston House Hotel Limited, Thornbury, BS35, failed to pay £1,109.12 to 1 worker.        
    412. Mrs Pearl Moore, Blackpool, FY4, failed to pay £1,094.75 to 3 workers.        
    413. Think Wraps Ltd, Poole, BH12, failed to pay £1,053.08 to 1 worker.        
    414. Telebizz Ltd, Plymouth, PL7, failed to pay £1,048.56 to 72 workers.        
    415. Hill Top Day Nursery Limited, Swadlincote, DE12, failed to pay £1,041.04 to 2 workers.        
    416. W. Corbett & Co. (Galvanizing) Limited, Telford, TF7, failed to pay £1,039.53 to 36 workers.        
    417. Autocare (Benfleet) Limited, Stanford-Le-Hope, SS17, failed to pay £1,032.23 to 2 workers.        
    418. Pork Farms Limited, Nottingham, NG2, failed to pay £1,029.77 to 9 workers.        
    419. Galdin Limited, Hackney, N1, failed to pay £1,024.50 to 5 workers.        
    420. Trinity Park Nursery Ltd, Craigavon, BT67, failed to pay £1,020.97 to 17 workers.        
    421. Mr Thanabalasingam Ketheeswarathas and Mrs Sivasuki Ketheeswarathas, Ipswich, IP2, failed to pay £1,006.83 to 2 workers.        
    422. G P H Carpentry Limited, Newquay, TR8, failed to pay £1,003.04 to 2 workers.        
    423. Euro Car Wash (South East) Limited, Greenwich, SE7, failed to pay £992.56 to 3 workers.        
    424. Mrs Melanie Elizabet Brown, Kirkcaldy, KY1, failed to pay £986.58 to 1 worker.        
    425. A O Hand Car Wash & Valeting Ltd, Peckham, SE15, failed to pay £982.62 to 3 workers.        
    426. Dash-Cae Limited, Oxford, OX14, failed to pay £976.19 to 1 worker.        
    427. Janette Allen Limited, Braintree, CM77, failed to pay £976.18 to 1 worker.        
    428. Ms Sarah Balfour, York, YO10, failed to pay £967.87 to 1 worker.        
    429. Allied Industrial Products Limited, Salford, M5, failed to pay £955.78 to 1 worker.        
    430. Cummins Ltd, Darlington, DL1, failed to pay £954.04 to 11 workers.        
    431. Ramsbottom Cricket Club, Bury, BL0, failed to pay £931.67 to 2 workers.        
    432. Soughton Shoot Limited, Northop, Mold,, CH7, failed to pay £927.24 to 1 worker.        
    433. Mrs Penni Durdy, Doncaster, DN9, failed to pay £924.04 to 1 worker.        
    434. Friends Care Agency Limited, Sandy, SG19, failed to pay £923.84 to 20 workers.        
    435. French Connection UK Limited, Camden, NW1, failed to pay £917.95 to 57 workers.        
    436. Precision Workwear Limited, Stamford, PE9, failed to pay £916.35 to 1 worker.        
    437. Joinex Joinery Express Limited, Brentford, TW8, failed to pay £882.61 to 12 workers.        
    438. Yorkcloud Limited, Ulverston, LA12, failed to pay £872.20 to 2 workers.        
    439. KR Scotland Ltd, Edinburgh, EH3, failed to pay £849.21 to 3 workers.        
    440. The KLE (Berwick) Group Ltd, Berwick Upon Tweed, TD15, failed to pay £838.48 to 2 workers.        
    441. Zig Zag Day Nursery Limited, Peterborough, PE1, failed to pay £827.98 to 21 workers.        
    442. Birdies Day Nursery Limited, Lisburn, BT28, failed to pay £821.32 to 8 workers.        
    443. Sooty Olive Ltd, Waterside, BT47, failed to pay £819.24 to 33 workers.        
    444. Bright Bees Nursery Ltd, Leicester, LE4, failed to pay £817.06 to 1 worker.        
    445. What The Fish Limited, Richmond upon Thames, SW14, failed to pay £801.08 to 1 worker.        
    446. SFC (Edmonton) Limited, Enfield, N9, failed to pay £798.22 to 2 workers.        
    447. Fairytales Day Nursery Limited, Dudley, DY2, failed to pay £793.38 to 7 workers.        
    448. R.G.R. Garages (Cranfield) Limited, Bedford, MK43, failed to pay £791.65 to 1 worker.        
    449. Mad Goose Catering Limited, Ellington, PE28, failed to pay £788.54 to 3 workers.        
    450. Mr Grzegorz Biezunski, Trowbridge, BA14, failed to pay £787.80 to 1 worker.        
    451. Futurerate Limited, Loughborough, LE12, failed to pay £787.20 to 1 worker.        
    452. Kids Korner Day Nurseries Ltd, Belfast, BT6, failed to pay £779.81 to 23 workers.        
    453. Inter County Cleaning Services Limited, Rushden, NN10, failed to pay £754.38 to 106 workers.        
    454. Spring Clean Commercial Ltd, Norwich, NR16, failed to pay £753.17 to 107 workers.        
    455. Clean Living Services Limited, Lambeth, SW8, failed to pay £749.48 to 16 workers.        
    456. Le Petit Francais Ltd, Edinburgh, EH6, failed to pay £744.52 to 10 workers.        
    457. Playworks Childcare Limited, Caerphilly, CF83, failed to pay £743.64 to 5 workers.        
    458. Wickhambrook Stores Limited, Newmarket, CB8, failed to pay £729.88 to 1 worker.        
    459. Rothco Independent Mortgages Ltd, Alnwick, NE66, failed to pay £729.83 to 1 worker.        
    460. James David Segal, Hull, HU1, failed to pay £729.22 to 6 workers.        
    461. Daniel Thwaites Public Limited Company, Blackburn, BB2, failed to pay £724.73 to 23 workers.        
    462. HRUK Group of Companies Ltd, Leeds, LS8, failed to pay £719.11 to 1 worker.        
    463. Historic Hotels & Properties Ltd, Scarborough, YO11, failed to pay £707.11 to 5 workers.        
    464. Penge Car Care ltd, Croydon, SE25, failed to pay £682.48 to 2 workers.        
    465. Craig Gordon Building Services Ltd, Edinburgh, EH11, failed to pay £680.17 to 1 worker.        
    466. Mountview Hotels Ltd, Callander, FK17, failed to pay £672.60 to 1 worker.        
    467. Paragon Quality Foods Ltd, Doncaster, DN3, failed to pay £670.56 to 21 workers.        
    468. Core Electrical Solutions Ltd, Beckenham, BR3, failed to pay £658.78 to 2 workers.        
    469. Snacks Van Ltd, Watford, WD25, failed to pay £658.20 to 1 worker.        
    470. MacDonald Hotels (Management) Limited, Bathgate, EH48, failed to pay £648.78 to 1 worker.        
    471. Kelly Teggin Hairdressing Ltd, Knaresborough, HG5, failed to pay £647.19 to 1 worker.        
    472. Safe Gas (N.I.) Limited, Newtonabbey, BT36, failed to pay £639.10 to 1 worker.        
    473. Harrison Wade Ltd, Manchester, M1, failed to pay £636.04 to 2 workers.        
    474. Spectrum Energy Guard Ltd, Bournemouth, BH1, failed to pay £621.72 to 1 worker.        
    475. Gastronomy Foods UK Limited, Shrewsbury, SY1, failed to pay £618.76 to 51 workers.        
    476. Jobseekrs Limited, Manchester, M15, failed to pay £613.88 to 1 worker.        
    477. Stepping-Stones-Services Limited, Rochdale, OL11, failed to pay £611.13 to 19 workers.        
    478. Tramp Hair Boutique Limited, Stockport, SK1, failed to pay £610.40 to 1 worker.        
    479. Emporio Fashion Ltd, Leicester, LE5, failed to pay £608.85 to 18 workers.        
    480. Halton Concrete Ltd, Widnes, WA8, failed to pay £607.43 to 2 workers.        
    481. Kanto Stranmillis Limited, Belfast, BT9, failed to pay £590.15 to 1 worker.        
    482. Complete Payroll and Accountancy Limited, Altrincham, M33, failed to pay £584.24 to 1 worker.        
    483. Flawless Cleaning Ltd, Smethwick, B66, failed to pay £582.02 to 1 worker.        
    484. Al Halal Supermarket Limited , Bradford, BD7, failed to pay £581.64 to 7 workers.        
    485. Max & Molly Limited, Wigan, WN3, failed to pay £579.96 to 1 worker.        
    486. Happy Children Day Nursery Limited, Ballynahinch, BT24, failed to pay £573.74 to 12 workers.        
    487. Jagard Valeting & Cleaning Services Ltd, Wellingborough, NN8, failed to pay £573.47 to 2 workers.        
    488. 247 Convenience Store (Bury) Ltd, Bury, BL8, failed to pay £571.63 to 1 worker.        
    489. The Race Horses Hotel Limited, Skipton, BD23, failed to pay £566.05 to 2 workers.        
    490. Strategic Facilities Management Ltd, Leeds, LS17, failed to pay £561.18 to 3 workers.        
    491. Mr C Saudin & Mrs P Saudin, Canterbury, CT1, failed to pay £560.48 to 2 workers.        
    492. Golden Car Limited , Perivale, UB6, failed to pay £551.80 to 1 worker.        
    493. Your Friendly Local Limited, Rotherham, S60, failed to pay £549.95 to 6 workers.        
    494. Steven Boom, East Hunsbury, NN4, failed to pay £547.20 to 2 workers.        
    495. M A Fashions Ltd, Leicester, LE5, failed to pay £545.60 to 17 workers.        
    496. Comserv Contracting & Commercial Limited, Stoke-on-Trent, ST3, failed to pay £544.19 to 1 worker.        
    497. Bonner Studs Limited, Walsall, WS2, failed to pay £537.45 to 1 worker.        
    498. M & C Retail Limited, Darlington, DL1, failed to pay £537.36 to 4 workers.        
    499. Legacy Resorts Limited, Newton Stewart, DG8, failed to pay £536.69 to 1 worker.        
    500. E.K.S Living Clean Ltd, Norwich, NR6, failed to pay £533.58 to 5 workers.        
    501. SC HCW Ltd, Belfast, BT5, failed to pay £533.54 to 7 workers.        
    502. David Alexander Forbes, Inverurie, AB51, failed to pay £531.64 to 2 workers.        
    503. Arunagiri UK LTD, Rickmansworth, WD3, failed to pay £530.92 to 2 workers.        
    504. Millfield Haulage Limited, York, YO26, failed to pay £530.91 to 2 workers.        
    505. Ardmore (Co. Derry) Pre-Cast Concrete Limited, Ardmore, BT47, failed to pay £525.69 to 1 worker.        
    506. W1 Soho Ltd., Soho, W1D, failed to pay £523.20 to 1 worker.        
    507. Shree Siddhi Limited, Glasgow, G66, failed to pay £515.76 to 7 workers.        
    508. 41 Cars Hull Ltd, Hull, HU9, failed to pay £515.72 to 2 workers.        
    509. Felix Inns Ltd, Solihull, B92, failed to pay £514.09 to 20 workers.        
    510. Eastchurch Holiday Centre Limited, Eastchurch, ME12, failed to pay £511.70 to 1 worker.        
    511. Surf N Turf Limited, Leicester, LE2, failed to pay £511.63 to 2 workers.        
    512. Red House Garage Limited, St Helens, WA11, failed to pay £511.43 to 1 worker.        
    513. Classic Decorators (UK) Limited, Barry, CF63, failed to pay £511.43 to 1 worker.        
    514. John Codona’s Pleasure Fairs Limited, Aberdeen, AB24, failed to pay £505.82 to 3 workers.        
    515. Timberquay Limited, Derry, BT48, failed to pay £503.98 to 14 workers.        
    516. Ace Support FM Ltd, Barnet, N14, failed to pay £501.60 to 1 worker.        
    517. Sleepwell (Cumbria) Limited, Barrow In Furness, LA14, failed to pay £500.95 to 1 worker.        
    518. Blank Brixton Ltd, Brixton, SW2, failed to pay £287.31 to 1 worker.        

    Updates to this page

    Published 29 May 2025

    MIL OSI United Kingdom

  • MIL-OSI Video: “Trillions of dollars added to the economy” – Google’s chief economist on the macro impact of AI

    Source: World Economic Forum (video statements)

    The World Economic Forum’s latest Chief Economists Outlook highlights the risks posed by global trade tensions, and examines the potential impact AI will have on economic growth.
    Google’s chief economist, Fabien Curto Millet, gives his take on the Outlook and the impact of GenAI, which he calls “the most exciting thing technologically I’ve seen in my lifetime”.

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    Chief Economists Outlook May 2025: https://wef.ch/chiefeconmay25

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    Slow growth and the cost of debt: the World Bank’s Chief Economist on the global outlook: https://www.weforum.org/podcasts/radio-davos/episodes/chief-economists-outlook-world-bank-indermit-gill/
    The global economy is slowing – here’s why that may not be such a bad thing: https://www.weforum.org/podcasts/radio-davos/episodes/chief-economists-outlook-september-2023-jerome-haegeli-swiss-re/

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    https://www.youtube.com/watch?v=WLW5_yJxO-w

    MIL OSI Video

  • MIL-OSI Asia-Pac: President Lai meets US delegation led by Senator Tammy Duckworth

    Source: Republic of China Taiwan

    President Lai meets delegation led by US House Natural Resources Committee Chair Bruce Westerman”>Details
    2025-05-27
    President Lai meets delegation led by US House Natural Resources Committee Chair Bruce Westerman
    On the afternoon of May 27, President Lai Ching-te met with a delegation led by Chair of the Natural Resources Committee of the United States House of Representatives Bruce Westerman. In remarks, President Lai stated that Taiwan and the US enjoy close industrial exchanges and continue to explore new opportunities for investment and collaboration. The president said that Taiwan will continue to increase purchases from and together build non-red supply chains with the US, expressing hope that economic and trade relations grow even closer and that both work together to jointly safeguard peace and stability throughout the region. A translation of President Lai’s remarks follows: I am delighted to meet and exchange views with members of the US House Committee on Natural Resources today. Chair Westerman, the leader of this delegation, is an old friend of Taiwan. On behalf of the people of Taiwan, I extend a very warm welcome to the delegation. I also want to thank you all for your long-term close attention to Taiwan-related affairs and your strong support for Taiwan. Taiwan and the US enjoy close ties and share ideals and values. There is an excellent foundation for cooperation between us, particularly in such areas as energy, the economy and trade, agriculture and fisheries, environmental protection, and sustainable development. In recent years, Taiwan-US ties have grown closer and closer. The US has become Taiwan’s largest destination for overseas investment, accounting for over 40 percent of Taiwan’s outbound investment. Taiwan is also the seventh largest trading partner of the US and its seventh largest export market for agricultural products. The SelectUSA Investment Summit held in Washington, DC earlier this month was the largest in its history. Taiwan’s delegation, representing 138 enterprises, was once again the biggest delegation attending the event. This shows that Taiwan and the US enjoy close industrial exchanges and continue to explore new opportunities for investment and collaboration. Looking ahead, with the global landscape changing rapidly, Taiwan will continue to increase purchases from the US, including energy resources such as natural gas and petroleum, as well as agricultural products, industrial products, and even military procurement. This will not only help balance our bilateral trade, but also strengthen development for Taiwan in energy autonomy, resilience, the economy, and trade. Taiwan and the US are also well-matched in such areas as high tech and manufacturing. As the US pursues reindustrialization and aims to become a global hub for AI, Taiwan is willing to take part and play an even more important role. We will strengthen Taiwan-US industrial cooperation and together build non-red supply chains. In addition to bringing our economic and trade relations even closer, this will also allow Taiwanese industries to remain rooted in Taiwan while expanding their global presence, helping bolster the US, and marketing worldwide. As for military exchanges, we are grateful to the US government for continuing its military sales to Taiwan and backing our efforts to upgrade our self-defense capabilities. Taiwan will continue to work with the US to jointly safeguard peace and stability throughout the region. In closing, I thank our guests once again for making the long journey here, not only offering warm friendship, but also demonstrating the staunch bipartisan support for Taiwan in the US Congress. Chair Westerman then delivered remarks, saying that it is an honor for him and his colleagues to be in Taiwan to talk about the strong relationship between the US and Taiwan and how that relationship can continue to grow in the future. The chair pointed out that natural resources are foundational to any kind of economic development, whether it is energy, which is key to manufacturing, or whether it is mining, which provides rare earth elements and all the minerals and metals needed for manufacturing. He said that as for natural resources including fish, wildlife, or timber, all are foundational to any society, but this is especially so for agriculture, noting that the US produces a lot of food and fodder and is always looking for more friends to share that with. Chair Westerman indicated that they are excited about opportunities to work with Taiwan, adding that Taiwan’s investments in the US have been greatly appreciated. He said they also are excited about the talks with the Trump administration and the future going forward on how we can have a stronger trade relationship, a stronger bilateral relationship, and how we can work with each other to help both economies grow and prosper. Chair Westerman concluded his remarks by expressing thanks for the opportunity to visit, saying that they treasure Taiwan’s friendship and our long-term relationship, and are very excited to be able to discuss in more detail how our two countries can work together. The delegation also included US House Natural Resources Committee Representatives Sarah Elfreth, Harriet Hageman, Celeste Maloy, and Nick Begich. The delegation was accompanied to the Presidential Office by American Institute in Taiwan Taipei Office Director Raymond Greene.  

    Details
    2025-05-27
    President Lai meets and hosts luncheon for delegation led by Governor Lourdes A. Leon Guerrero of Guam
    On the morning of May 27, President Lai Ching-te met with a delegation led by Governor Lourdes A. Leon Guerrero of Guam and her husband, and hosted a luncheon for the delegation at noon. In remarks, President Lai noted that this is the governor’s first trip to Taiwan, fully demonstrating the Guam government’s support and high regard for Taiwan. The president said that Guam, being the closest United States territory to Taiwan, is an important bridge for collaboration between Taiwan and the US. He stated that aside from promoting tourism, we can also explore even more opportunities for collaboration in other areas to further advance industrial development for both sides. He said that, as we begin a new chapter, we look forward to working together to generate even more momentum in bilateral cooperation and exchanges. A translation of President Lai’s remarks follows: On behalf of the people of Taiwan, I extend a warm welcome to Governor Leon Guerrero and her delegation. Last year, I transited through Guam en route for visits to Taiwan’s diplomatic allies in the Pacific. The enthusiastic reception I received from the government, legislature, people, and members of our overseas community in Guam was very touching and left me with a deep impression. During the morning tea reception hosted by Governor Leon Guerrero, we joined in singing our respective national anthems, as well as the Fanohge CHamoru. I also received at the Guam Legislature a copy of a Taiwan-friendly resolution it passed on behalf of the people of Taiwan. And I still remember to this day the striking scenery of the governor’s house and the warm reception I received there. It is therefore a great pleasure to meet with all of you today here at the Presidential Office. This is Governor Leon Guerrero’s first trip to Taiwan. Your visit fully demonstrates the Guam government’s support and high regard for Taiwan. As we begin a new chapter, we look forward to working with you to generate even more momentum in bilateral cooperation and exchanges. Taiwan and Guam are like family. We share the Austronesian spirit and culture. Our wide-ranging and mutually-beneficial collaboration is very fruitful. And now, we are facing the challenges of climate change, public health and medicine, and regional security together. The world is rapidly changing and tensions in the Indo-Pacific continue to rise. But if we combine our strengths, come together as one, and enhance cooperation, we can maintain regional peace, stability, and prosperity. Last Tuesday, I delivered an address on my first anniversary of taking office. I mentioned that for many years, Taiwan, the US, and our democratic partners have actively engaged in exchange and cooperation. Taking a market-oriented approach, we will promote an economic path of staying firmly rooted in Taiwan and expanding the global presence of our enterprises while strengthening ties with the US. Guam is the closest US territory to Taiwan. It is an important bridge for collaboration between Taiwan and the US. Last month, we were pleased to see United Airlines officially launch direct flights between Taipei and Guam. I believe this will benefit tourism and economic and trade exchanges for both sides. In the area of health care, many hospitals in Taiwan already offer referral services to patients from Guam. Both Governor Leon Guerrero and I have backgrounds in medicine. It is my hope that Taiwan and Guam can continue to work hand in hand to create even more positive outcomes from cooperation in public health and medical services. During the governor’s visit, aside from promoting tourism, we can also explore even more opportunities for collaboration in other areas. There is potential for more exchanges in aquaculture, food processing, hydroculture, manufacturing, pharmaceuticals, and recycling. This will further advance industrial development in Taiwan and Guam. In closing, I thank Governor Leon Guerrero and all our distinguished guests for backing Taiwan. I wish you all a smooth and successful visit.  Governor Leon Guerrero then delivered remarks, saying that she is very happy to come to Taiwan. She said that after learning during President Lai’s visit to Guam last year that he is a medical doctor, she felt more relaxed because healthcare colleagues are one in their endeavor to help enhance the health and well-being of people. She then expressed her heartfelt appreciation for the invitation to Taiwan.  Governor Leon Guerrero said that as they learn more about opportunities for collaboration with Taiwan, they are humbled by the hospitality they have experienced. In both of our islands, she said, hospitality is more than just a custom – it forms a part of our identities. She noted that despite being nearly 2,000 miles apart, we are connected by the Pacific Ocean and common roots, and our ancestors both value family, community, and tradition. That is why being here today, she said, she feels a strong sense of familiarity, like reconnecting with old friends. The governor remarked that Taiwan has evolved so quickly in all areas of essential life, sustenance, economy, and prosperity, adding that Taiwan’s resources in such areas as health, education, data, AI, advanced technology, aquaculture, agriculture, and commerce enhance our economic stability. She stated her belief that in collaboration and support, and working with each other, we can gain prosperity, maintain freedom and democracy, and live in peace.  Governor Leon Guerrero stated that their delegation is here to see how they can partner with Taiwan to help raise the quality of life for both our peoples, mentioning that one special concern of theirs is tourism. Tourism, she said, is the most influential engine and driver for the economy and quality of life in Guam, but they cannot have a vibrant economy and tourism without air connectivity. She added that they are prepared to help in any way to provide incentives and low-cost fees so that they can get more airlines from Taiwan to establish permanent flight schedules to Guam, so as to drive development in Guam’s tourism industry. Governor Leon Guerrero then proceeded to introduce each of the members of her delegation before remarking that while they have been very busy on this visit they are always reminded of the freedom and democracy that the people must protect. She said she looks forward to a great, strong relationship between Taiwan and Guam in cooperation on social and economic issues, in culture, marketing, tourism, and freedom and democracy. Among those in attendance were First Gentleman Jeffrey A. Cook, Chief of Staff Jon Junior Calvo, Director of the Department of Administration Edward Birn, General Manager of the Guam Visitors Bureau Regine Biscoe Lee, Deputy Executive Manager of the Guam International Airport Authority Artemio “Ricky” Hernandez, Board of Directors Chairman of the Guam International Airport Authority Brian J. Bamba, Deputy General Manager of the Guam Economic Development Authority Carlos Bordallo, Director of Landscape Management Systems Guam Bob Salas, Chairperson of the Guam Chamber of Commerce Tae Oh, President of the University of Guam Anita Borja Enriquez, and Director of the Guam Taiwan Office Felix Yen (嚴樹芬). After the meeting, President Lai, accompanied by Vice President Bi-khim Hsiao, hosted a luncheon for Governor Leon Guerrero, her husband, and the delegation.

    Details
    2025-05-27
    President Lai meets delegation from European Parliament
    On the morning of May 27, President Lai Ching-te met with a delegation from the European Parliament. In remarks, President Lai thanked the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait and voice support for Taiwan. The president expressed hope for an even closer relationship and diversified cooperation between Taiwan and the European Union. The president said that Taiwan and the EU can work together in such areas as semiconductors, AI, and green energy to create more resilient supply chains for global democracies and contribute to global prosperity and development. A translation of President Lai’s remarks follows: I warmly welcome our guests to the Presidential Office. After being elected last year, MEPs Reinis Pozņaks and Beatrice Timgren are making their first visits to Taiwan, demonstrating support for Taiwan through concrete action. On behalf of the people of Taiwan, I extend my sincerest welcome and appreciation. I would also like to take this opportunity to thank the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait. Just last month, the European Parliament adopted resolutions with regard to annual reports on the implementation of the European Union’s Common Foreign and Security Policy and Common Security and Defence Policy. These resolutions reaffirmed the EU’s steadfast commitment to maintaining the status quo across the Taiwan Strait. The European Parliament also condemned China for continuing to take provocative military actions against Taiwan and emphasized that Taiwan is a key democratic partner in the Indo-Pacific region. It called on the EU and its member states to continue working closely with Taiwan to strengthen economic, trade, and investment ties. Once again, I thank the European Parliament for voicing support for Taiwan. Just as MEPs Pozņaks and Timgren are visiting Taiwan to strengthen Taiwan-EU exchanges, our Minister of Economic Affairs Kuo Jyh-huei (郭智輝) also led a delegation to Europe last year, marking the first in-person dialogue between high-ranking economic and trade officials of Taiwan and the EU. Moving ahead, we look forward to bringing Taiwan-EU ties even closer and to diversifying our cooperation. The EU is Taiwan’s largest source of foreign investment. Both sides are highly complementary in such areas as semiconductors, AI, and green energy. Through our joint efforts, we can create more resilient supply chains for global democracies and further contribute to global prosperity and development. Looking ahead, I hope that MEPs Pozņaks and Timgren will continue to make the case in the European Parliament for the signing of a Taiwan-EU economic partnership agreement. This would not only yield mutually beneficial development, but also consolidate economic security and boost international competitiveness for both sides. In closing, I am sure that you will gain a deeper understanding of Taiwan through this visit. Please feel welcome to come back as often as possible as we continue to elevate Taiwan-EU ties.  MEP Pozņaks then delivered remarks, saying that it is a great honor to be here and thanking everybody involved in arranging this trip that allows them the opportunity to better know Taiwan. He added that it is definitely not the last time they will be here, as Taiwan is a very beautiful country. MEP Pozņaks mentioned that he comes from Latvia, and despite their being on the other side of the world, they know how the Taiwanese people feel, because they also have a big neighbor who is claiming that Latvia belongs to them. Unfortunately, he said, there is already war in Europe, but he is confident that their situation is similar to Taiwan’s, adding that they have a neighbor who uses disinformation attacks. MEP Pozņaks said that we live in very challenging times, and that our choices will define the future of the world, asking whether it will be a world where the rule of law prevails or where physical power and aggression succeeds. Coming from a small country, he said he clearly understands that for them there is no other possibility; they must protect the world where the rule of law prevails. That is why now, he emphasized, it is very crucial for all democracies around the world to stick together to protect our freedoms, values, and democracy. MEP Timgren then delivered remarks, thanking President Lai for meeting with them and saying it is a big honor. Noting that they arrived here two days ago and that while she really loves Taiwan, its food, and the good weather, she stated that the reason they are here is because of the values that we share, our good relationships, and solidarity with other democratic countries in the world, which is important for them in Europe and in Sweden. MEP Timgren, referring to MEP Pozņaks’s earlier remarks, said that they face a big threat from Russia that is discernible even in the European Parliament. Actually, she pointed out, there is a war inside Europe that shows us how important it is that we support one another. She said that the Russian people thought it would be easy to take over Ukraine, but it was not, because all European countries stepped up and provided weapons and support. And that is why, MEP Timgren said, it is important that democratic countries maintain good relationships and let China and Russia see that we have good relationships, because a part of defense is solidarity. In closing, she expressed her gratitude for having the honor to be here in this beautiful country.

    Details
    2025-05-20
    President Lai hosts state banquet for President Surangel Whipps Jr. of Republic of Palau
    On the evening of May 20, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, hosted a state banquet at the Presidential Office in honor of President Surangel Whipps Jr. of the Republic of Palau and his wife. In remarks, President Lai said that he looks forward to working closely with President Whipps to promote tourism exchanges and sports cooperation so that Taiwan and Palau shine brightly together on the international stage. A translation of President Lai’s remarks follows: It is a pleasure to host this banquet tonight at the Presidential Office for President Whipps, First Lady Valerie Whipps, and the esteemed members of their delegation. Welcome to Taiwan. During my trips to Palau in 2022 and last year, President and First Lady Whipps received me with great hospitality. Wearing my island shirt, I enjoyed a very friendly reception from the people of Palau. It felt warm and friendly, just like being welcomed back home. The first time I visited Palau, President Whipps and I piloted a boat to the Milky Way lagoon. We both tried volcanic mud facial masks. We also fished together and enjoyed the breeze as we walked on the beach. Last year, on my second visit to Palau, I was honored to be invited to address the National Congress. I also observed the results of the close bilateral cooperation between our two nations. Due to its world-famous ocean scenery, Palau is sometimes referred to as “God’s aquarium.” And it is even possible to snorkel with sharks. It leaves a deep impression. Nothing compares to seeing Palau firsthand. During the COVID-19 pandemic, Taiwan and Palau launched a travel bubble that created a safe means of travel. Now, with the pandemic behind us, I hope that even more Taiwanese can tour Palau and gain a greater understanding of our diplomatic ally. In addition to tourism exchanges, I mentioned on my visit to Palau last year that I hoped Taiwan and Palau could promote sports cooperation by providing training away from home. Next month, Palau will be holding the Pacific Mini Games. And right now, Palau’s national baseball and table tennis teams are holding training sessions here in Taiwan. We will do our utmost to support Palau’s national players and we hope they stand out and achieve outstanding results in the events. I look forward to working closely with President Whipps so that Taiwan and Palau shine brightly together on the international stage. Thank you! Mesulang! President Whipps then delivered remarks, saying that it is truly an honor to be here once again one year after President Lai’s inauguration. Mentioning that this is his first state visit after being reelected to a second term, he said that it is important to be here among friends, and that we are more than friends, we are family. He thanked President Lai for the generous words and, most importantly, Taiwan’s enduring support. He remarked that our relationship continues to get stronger in each passing year. President Whipps said that President Lai’s diplomacy initiative, leadership, and vision deeply resonate with them. Diplomacy must be rooted in our shared values, he said, and an unwavering support for our allies and a commitment to a sustainable, inclusive development are all deeply appreciated by their people. President Whipps emphasized that, as we look into the future and the challenges that we face, from security to climate change, it is so important that we are united. He added that it is important for the world, and especially important for them in Palau, that they stand up for Taiwan, so that Taiwan can participate on international fora that address climate change, security, and health, because they know the world is better when Taiwan has a seat at the table. Mentioning that Palau will host the Pacific Islands Forum next year, President Whipps said that Palau remains committed to working closely with Taiwan to ensure a successful event, and that they will continue to speak up for Taiwan’s indispensable contributions as we stand together against any efforts to silence or isolate democratic partners. President Whipps said that our nations have navigated challenges and emerged stronger, bound by a partnership that is built on trust, respect, and hope for a better world. Whether it is in clean energy, education, smart medicine, or tourism, our shared journey is just beginning, he said, and we are stronger together.  Also in attendance at the banquet were Palauan Minister of State Gustav Aitaro, Minister of Public Infrastructure and Industries Charles Obichang, Minister of Human Resources, Culture, Tourism and Development Ngiraibelas Tmetuchl, Senate Floor Leader Kerai Mariur, House of Delegates Floor Leader Warren Umetaro, High Chief of Ngiwal State Elliot Udui, Governor of Peleliu State Emais Roberts, and Governor of Koror State Eyos Rudimch.

    Details
    2025-05-20
    President Lai and President Surangel S. Whipps, Jr. of Palau hold bilateral talks and witness signing of cooperation agreements  
    On the afternoon of May 20, following a welcome ceremony with military honors for President Surangel S. Whipps, Jr. of the Republic of Palau and his wife, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, held bilateral talks with President Whipps at the Presidential Office. The two leaders also jointly witnessed the signing of a technical cooperation agreement and an agreement on diplomatic staff training cooperation. In remarks, President Lai thanked Palau for standing firm in its backing of Taiwan’s international participation as geopolitical tensions continue to increase in the Pacific region. He added that he looks forward to the cooperative ties between Taiwan and Palau continuing to expand into even broader areas, allowing our economies and societies to further progress as we jointly advance peace, stability, and prosperity in the Indo-Pacific region. A translation of President Lai’s remarks follows: I welcome our guests to Taiwan once again. Last year on May 20, President Whipps led a delegation to attend the inauguration ceremony for myself and Vice President Hsiao. I am delighted, on the anniversary of my first year in office, to meet with old friends of Taiwan again, as President Whipps returns for this visit. Taiwan-Palau relations have grown even closer in recent years thanks to the strong support of President Whipps. In 2022, during my term as vice president, I led a delegation to Palau as a demonstration of how our nations were together boosting tourism development as we jointly faced the challenges of the COVID-19 pandemic. Every time I visit Palau, and every time I meet with President Whipps, I feel very deeply that Taiwan and Palau are like family. We are both maritime nations and share a common Austronesian heritage and culture. We are also staunch partners in upholding such values as freedom, democracy, and respect for human rights. Last December, when I went on my first overseas trip since taking office, one of the nations I visited was Palau. We celebrated the 30th anniversary of Palau’s independence and 25 years of diplomatic relations, underscoring our friendly ties. Taiwan and Palau enjoy close exchanges and cooperation in a range of areas, including climate change, education, agriculture and fisheries, healthcare, humanitarian assistance, sports, and culture. After this meeting, President Whipps and I will witness the signing of a technical cooperation agreement and an agreement on diplomatic staff training cooperation, demonstrating once again our diverse collaboration and strong friendship. I believe that by working together, Taiwan and Palau can contribute to each other’s development and overcome the regional and global challenges we currently face. In particular, as geopolitical tensions continue to increase in the Pacific region, Palau has wisely and courageously upheld democratic values and stood firm in its backing of Taiwan’s international participation. Palau has never stopped voicing support for Taiwan, including at the United Nations General Assembly, the World Health Organization, the UN Framework Convention on Climate Change Conference of the Parties, and the UN Ocean Conference. We have been deeply moved by this support. I thank President Whipps again for his high regard and support for Taiwan. I look forward to the cooperative ties between our nations continuing to expand into even broader areas. This will allow our economies and societies to further progress as we jointly advance peace, stability, and prosperity in the Indo-Pacific region. President Whipps then delivered remarks, saying that it is a great honor for him to be here, standing in this historic place – a symbol of strength, resilience, and the democratic spirit of the Taiwanese people. On behalf of the government of Palau, President Whipps extended heartfelt gratitude to President Lai and the people of Taiwan for the warm welcome and gracious hospitality toward him and his delegation. President Whipps then extended sincere thanks for President Lai’s visit to Palau in December – his second visit to Palau – and for having Minister of Foreign Affairs Lin Chia-lung (林佳龍) attend his inauguration as a special envoy. He added that this also marks his third visit to Taiwan since President Lai took office, saying that this demonstrates the strength of our growing relationship. President Whipps indicated that the increased engagements and numerous entrepreneurs that President Lai has brought from Taiwan to Palau have resulted in fruitful visits, and that President Lai’s leadership represents hope, unity, and continued advancement of democracy and freedom, not only for Taiwan, but for the broader Indo-Pacific region. President Whipps went on to say that this visit to Taiwan reaffirms our deep friendship and shared values between our two nations. He emphasized that Palau and Taiwan are bound not by proximity, but by purpose, in that both are island nations and believe in human dignity, the rule of law, and the right of our people to determine their own futures. President Whipps stated that although we are celebrating 26 years of diplomatic relations, Taiwan has been a steadfast partner of Palau for decades, and that one of the MOUs they are signing further extends the relationship that began in December of 1984. From healthcare and medical missions, to education, agriculture, renewable energy, infrastructure, the private sector, tourism development, and climate resilience, he said, our cooperation has improved lives and strengthened our communities. The president also indicated that during the COVID-19 pandemic, Taiwan stood with Palau, noting that both sides began the tourism bubble, and that President Lai came to Palau to reopen the two weekly direct flights that have now been increased to four. That solidarity will never be forgotten, he said. As the world faces growing uncertainty and complex challenges from climate change to global tensions, President Whipps said, this friendship becomes even more vital. The president concluded his remarks by expressing hope that both nations continue to stand together, work together, and advocate together for peace, prosperity, and for the right of small nations to be seen, heard, and respected. After the bilateral talks, President Lai and President Whipps witnessed the signing of the technical cooperation agreement and the agreement on diplomatic staff training cooperation by Minister Lin and Palauan Minister of State Gustav Aitaro. The delegation also included Palauan Minister of Public Infrastructure and Industries Charles Obichang, Minister of Human Resources, Culture, Tourism and Development Ngiraibelas Tmetuchl, Senate Floor Leader Kerai Mariur, House of Delegates Floor Leader Warren Umetaro, High Chief of Ngiwal State Elliot Udui, Governor of Peleliu State Emais Roberts, and Governor of Koror State Eyos Rudimch.  

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News

  • MIL-OSI: SPEC Releases New SPECapc for SNX 2024 Benchmark

    Source: GlobeNewswire (MIL-OSI)

    GAINESVILLE, Va., May 29, 2025 (GLOBE NEWSWIRE) — The Standard Performance Evaluation Corporation (SPEC), the trusted global leader in computing benchmarks, today announced the availability of an all-new SPECapc for SNX 2024 benchmark, providing a completely new take on measuring Siemens NX CAD and CAM software performance. Siemens NX is award-winning, processor-intensive software that helps designers and manufacturers deliver better products faster through a powerful combination of CAD and CAM solutions. The new benchmark runs on the continuous release version of Siemens NX, which will enable SPEC to update the benchmark more frequently.*

    The SPECapc for SNX 2024 benchmark executes graphics tests that include rotation, pan, zoom and clipping for each model. Viewport tests within the benchmark measure performance for field of view and feature regeneration operations. Anti-aliasing can be enabled or disabled to allow users to assess performance differences between the two modes. With the SPECapc for SNX 2024 benchmark, the range of application users, including professionals, students, and artists, as well as hardware developers and vendors, can discover how different hardware configurations affect the performance of the application.

    “SPEC is committed to providing the Siemens NX user and development communities with a fair and reliable benchmark for Siemens NX, and we are grateful for the opportunity to work with Siemens to make this happen,” said SPECapc Chair Jessica Heerboth. “We rigorously developed this benchmark according to our principles for creating a good benchmark, which include it being vendor agnostic, unbiased, use-case-dependent, scalable, extensible and more. These characteristics ensure the most accurate performance measurements, enabling the best possible decisions when making hardware purchases to run this processor-intensive design software.”

    Key features of the SPECapc for SNX 2024 benchmark

    • Exporting models to different file formats – This test measures exports to STEP and IGES, the most frequently used file formats.
    • Closest point calculations – This test measures a picked point in space for every surface / edge on a model and calculates which point on the model is closest.
    • Mass property calculations – For every solid body in the model, this test calculates the vector of mass / inertia / movement, etc. The test calculates forces in physical simulations: volume, mass, center of mass, moments, moments of inertia, spherical moments of inertia, radii of gyration, etc.
    • Model loading – This test measures the basic app function of opening and loading a model.
    • Display mode – This test iterates through multiple modes.
    • Cross section – This test cuts a model in half and rotates it around, providing a detailed look at the inside of a model – all the parts and details and how they fit together.
    • Explosion – This test explodes out to show an inner view of a model. It is similar to the cross section test but provides a view of each part individually without the detail of how they fit together.
    • Sync views – This test provides two different views of the model and rotates them in a synchronized fashion, providing a view of how things fit and potentially fuse together from different angles.
    • Multiple viewports – This test provides six different views of a model from different perspectives. It continuously shows the model from all angles to increase awareness of how changes affect the model.

    Available for Immediate Download
    The SPECapc for SNX 2024 benchmark is available for immediate download from SPEC under a two-tiered pricing structure: free for the user community and $2,500 for sellers of computer-related products and services. SPEC/GWPG members receive benchmark licenses as a membership benefit.

    About SPEC
    SPEC is a non-profit organization that establishes, maintains and endorses standardized benchmarks and tools to evaluate performance for the newest generation of computing systems. Its membership comprises more than 120 leading computer hardware and software vendors, educational institutions, research organizations, and government agencies worldwide.

    *Please note: The SPECapc for SNX 2024 benchmark can run on the latest continuous release version of Siemens NX; however, since each new application build version can differ in terms of performance and output, please refer to the benchmark run rules for the exact Siemens NX build version officially supported.

    Media contact:
    Brigit Valencia
    360.597.4516
    brigit@compel-pr.com

    Images available upon request.
    SPEC® and SPECapc® are trademarks of the Standard Performance Evaluation Corporation. All other product and company names herein may be trademarks of their registered owners.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2f0ac75e-fb34-4c2b-855a-c839ce7313c0

    The MIL Network

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

    Source: GlobeNewswire (MIL-OSI)

    HONG KONG, May 29, 2025 (GLOBE NEWSWIRE) — Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced its unaudited financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Operational Highlights

    • Total number of funded accounts1 increased 41.6% year-over-year to 2,673,119 as of March 31, 2025.
    • Total number of brokerage accounts2 increased 30.0% year-over-year to 4,955,319 as of March 31, 2025.
    • Total number of users3 increased 16.8% year-over-year to 26.3 million as of March 31, 2025.
    • Total client assets increased 60.2% year-over-year to HK$829.8 billion as of March 31, 2025.
    • Daily average client assets were HK$790.4 billion in the first quarter of 2025, an increase of 64.7% from the same period in 2024.
    • Total trading volume in the first quarter of 2025 increased by 140.1% year-over-year to HK$3.22 trillion, in which trading volume for U.S. stocks was HK$2.25 trillion, and trading volume for Hong Kong stocks was HK$916.0 billion.
    • Margin financing and securities lending balance increased 33.7% year-over-year to HK$50.3 billion as of March 31, 2025.

    First Quarter 2025 Financial Highlights

    • Total revenues increased 81.1% year-over-year to HK$4,694.6 million (US$603.4 million).
    • Total gross profit increased 85.9% year-over-year to HK$3,945.7 million (US$507.2 million).
    • Net income increased 107.0% year-over-year to HK$2,142.7 million (US$275.4 million).
    • Non-GAAP adjusted net income4 increased 97.7% year-over-year to HK$2,216.9 million (US$285.0 million).

    Mr. Leaf Hua Li, Futu’s Chairman and Chief Executive Officer, said, “We started 2025 on a strong note, adding approximately 262 thousand funded accounts in the first quarter, up 47.8% year-over-year and 21.9% quarter-over-quarter. Total funded accounts reached 2.7 million, representing a 41.6% increase year-over-year and a 10.9% increase quarter-over-quarter. Hong Kong remained the top contributor to new funded accounts, as our marketing initiatives effectively leveraged the Hong Kong market rally and IPO boom. We believe that brokers with leading brand equity, product experience and execution capabilities will gain outsized benefits from strong equity market performance. Malaysia posted the fastest sequential growth in new funded accounts among all seven markets. After a year of rapid market share gain in Malaysia, we think there is ample headroom for further growth and will continue to invest in our product and our brand. In Japan, new funded accounts enjoyed robust growth and reached a historic high, as we solidified our position as the go-to broker for U.S. stock trading. Funded account growth accelerated in the U.S. as we enhanced our offerings for active traders and our high-profile advertising campaigns boosted brand visibility. With one-third of our full-year target already achieved, we remain firmly on track to meet our guidance of 800 thousand net new funded accounts in 2025.”

    “Total client assets reached HK$829.8 billion, up 60.2% year-over-year and 11.6% quarter-over-quarter, thanks to record net asset inflow. In Singapore, total client assets rose 11.4% quarter-over-quarter, sustaining its streak of double-digit sequential growth. Average client assets in Canada and Australia also logged five straight quarters of sequential increase. Margin financing and securities lending balance at quarter end remained largely stable at HK$50.3 billion, due to lower risk appetite in the second half of the quarter amid market pullback.”

    “Total trading volume was HK$3.22 trillion, up 140.1% year-over-year and 11.4% quarter-over-quarter. U.S. stock trading volume grew 8.2% sequentially to HK$2.25 trillion, bolstered by clients’ bottom fishing of technology and semiconductor names. Hong Kong stock trading volume increased 21.4% quarter-over-quarter to HK$916.0 billion, as DeepSeek-induced market rally reignited investor interest.”

    “We continued to drive product innovation, empowering retail investors with cutting-edge investment tools and seamless investment experience. In Hong Kong, we unveiled Futubull AI, our proprietarily trained, AI-powered investment assistance, and revealed a new desktop version with more intuitive tools and advanced features. In Japan, we continued to enhance our U.S. stock offerings as we rolled out U.S. fractional shares trading in the first quarter and subsequently launched U.S. options trading in April.”

    “Wealth management client assets were HK$139.2 billion as of quarter end, up 117.7% year-over-year and 25.6% quarter-over-quarter. 29% of funded accounts held wealth management products, a further climb from 28% in the previous quarter. Money market funds remained the primary driver of asset inflow given the seek for stable returns amid market volatility. In Hong Kong and Singapore, we broadened our structured product suite with FX-linked notes in the first quarter. We also onboarded equity funds in Malaysia and money market funds in Japan.”

    “We had 498 IPO distribution and IR clients as of quarter end, up 15.8% year-over-year. During the quarter, we served as joint lead manager for several high-profile Hong Kong IPOs, including those of Bloks Group and Guming Holdings. For both of these transactions, we were the exclusive online broker for IPO distribution. Notably, in the MIXUE Group IPO, more than 70 thousand clients contributed to over HK$1 trillion in subscription amount, putting us first among all brokers in number of subscribers and total subscription amount.”

    First Quarter 2025 Financial Results

    Revenues

    Total revenues were HK$4,694.6 million (US$603.4 million), an increase of 81.1% from HK$2,592.5 million in the first quarter of 2024.

    Brokerage commission and handling charge income was HK$2,310.2 million (US$296.9 million), an increase of 113.5% from the first quarter of 2024. This was mainly due to higher trading volume, partially offset by the decline in blended commission rate.

    Interest income was HK$2,070.5 million (US$266.1 million), an increase of 52.9% from the first quarter of 2024. The increase was mainly driven by higher interest income from securities borrowing and lending business, margin financing and bank deposits.

    Other income was HK$313.9 million (US$40.4 million), an increase of 101.0% from the first quarter of 2024. The increase was primarily attributable to higher fund distribution service income and currency exchange income.

    Costs

    Total costs were HK$749.0 million (US$96.3 million), an increase of 59.3% from HK$470.2 million in the first quarter of 2024.

    Brokerage commission and handling charge expenses were HK$143.5 million (US$18.4 million), an increase of 138.0% from the first quarter of 2024. This increase was roughly in line with the growth of our brokerage commission and handling charge income.

    Interest expenses were HK$469.3 million (US$60.3 million), an increase of 50.0% from the first quarter of 2024. The increase was primarily due to higher expenses associated with our securities borrowing and lending business and higher margin financing interest expenses.

    Processing and servicing costs were HK$136.1 million (US$17.5 million), an increase of 40.2% from the first quarter of 2024. The increase was primarily due to higher market information and data fee for enhanced market data coverage.

    Gross Profit

    Total gross profit was HK$3,945.7 million (US$507.2 million), an increase of 85.9% from HK$2,122.2 million in the first quarter of 2024. Gross margin was 84.0%, as compared to 81.9% in the first quarter of 2024.

    Operating Expenses

    Total operating expenses were HK$1,260.4 million (US$162.0 million), an increase of 35.6% from HK$929.5 million in the first quarter of 2024.

    Research and development expenses were HK$386.0 million (US$49.6 million), an increase of 15.1% from the first quarter of 2024. This increase was primarily driven by investment in AI capabilities and related technology initiatives.

    Selling and marketing expenses were HK$459.2 million (US$59.0 million), an increase of 56.9% from HK$292.7 million in the first quarter of 2024. This was mainly driven by strong growth of new funded accounts.

    General and administrative expenses were HK$415.2 million (US$53.4 million), an increase of 37.8% from the first quarter of 2024. The increase was primarily due to an increase in general and administrative personnel to support overseas market development.

    Income from Operations

    Income from operations increased by 125.1% to HK$2,685.3 million (US$345.2 million) from HK$1,192.7 million in the first quarter of 2024. Operating margin increased to 57.2% from 46.0% in the first quarter of 2024 mainly due to strong topline growth and operating leverage.

    Net Income

    Net income increased by 107.0% to HK$2,142.7 million (US$275.4 million) from HK$1,035.1 million in the first quarter of 2024. Net income margin for the first quarter of 2025 increased to 45.6% from 39.9% in the year-ago quarter.

    Non-GAAP adjusted net income increased by 97.7% to HK$2,216.9 million (US$285.0 million) from the first quarter of 2024. Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses. For further information, see “Use of Non-GAAP Financial Measures” at the bottom of this press release.

    Net Income per ADS

    Basic net income per American Depositary Share (“ADS”) was HK$15.44 (US$1.98), compared with HK$7.53 in the first quarter of 2024. Diluted net income per ADS was HK$15.28 (US$1.96), compared with HK$7.46 in the first quarter of 2024. Each ADS represents eight Class A ordinary shares.

    Conference Call and Webcast

    Futu’s management will hold an earnings conference call on Thursday, May 29, 2025, at 7:30 AM U.S. Eastern Time (7:30 PM on the same day, Beijing/Hong Kong Time).

    Please note that all participants will need to pre-register for the conference call, using the link

    https://register-conf.media-server.com/register/BIb0180ca92acc4f49b995ccdec654eeb4.

    It will automatically lead to the registration page of “Futu Holdings Ltd First Quarter 2025 Earnings Conference Call”, where details for RSVP are needed.

    Upon registering, all participants will be provided in confirmation emails with participant dial-in numbers and personal PINs to access the conference call. Please dial in 10 minutes prior to the call start time using the conference access information.

    Additionally, a live and archived webcast of this conference call will be available at https://ir.futuholdings.com/.

    About Futu Holdings Limited

    Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering fully digitalized financial services. Through its proprietary digital platforms, Futubull and moomoo, the Company provides a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management. The Company has embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. The Company also provides corporate services, including IPO distribution, investor relations and ESOP solution services.

    Use of Non-GAAP Financial Measures

    In evaluating the business, the Company considers and uses non-GAAP adjusted net income, a non-GAAP measure, as a supplemental measure to review and assess its operating performance. The presentation of the non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines non-GAAP adjusted net income as net income excluding share-based compensation expenses. The Company presents the non-GAAP financial measure because it is used by the management to evaluate the operating performance and formulate business plans. Non-GAAP adjusted net income enables the management to assess the Company’s operating results without considering the impact of share-based compensation expenses, which are non-cash charges. The Company also believes that the use of the non-GAAP measure facilitates investors’ assessment of its operating performance.

    Non-GAAP adjusted net income is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as analytical tools. One of the key limitations of using non-GAAP adjusted net income is that it does not reflect all items of expense that affect the Company’s operations. Share-based compensation expenses have been and may continue to be incurred in the business and is not reflected in the presentation of non-GAAP adjusted net income. Further, the non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

    The Company compensates for these limitations by reconciling the non-GAAP financial measure to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance.

    For more information on this non-GAAP financial measure, please see the table captioned “Unaudited Reconciliations of Non-GAAP and GAAP Results” set forth at the end of this press release.

    Exchange Rate Information

    This announcement contains translations of certain HK dollars (“HK$”) amounts into U.S. dollars (“US$”) at specified rates solely for the convenience of the reader. Unless otherwise stated, all translations from HK$ to US$ were made at the rate of HK$7.7799 to US$1.00, the noon buying rate in effect on March 31, 2025 in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that the HK$ or US$ amounts referred could be converted into US$ or HK$, as the case may be, at any particular rate or at all.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the quotations from the management team of the Company, contain forward-looking statements. Futu may also make written or oral forward-looking statements in its periodic reports to the SEC, 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 Futu’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Futu’s goal and strategies; Futu’s expansion plans; Futu’s future business development, financial condition and results of operations; Futu’s expectations regarding demand for, and market acceptance of, its credit products; Futu’s expectations regarding keeping and strengthening its relationships with borrowers, institutional funding partners, merchandise suppliers and other parties it collaborates with; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Futu’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Futu does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor inquiries, please contact:

    Investor Relations
    Futu Holdings Limited
    ir@futuholdings.com

    ___________________________

    1 The number of funded accounts refers to the number of brokerage accounts with Futu that have a positive account balance. Multiple funded accounts by one client are counted as one funded account.
    2 Multiple brokerage accounts by one client are counted as one brokerage account.
    3 The number of users refers to the number of user accounts registered with Futu.
    4 Non-GAAP adjusted net income is defined as net income excluding share-based compensation expenses.

    FUTU HOLDINGS LIMITED

    UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

    (In thousands, except for share and per share data)

      As of December 31,   As of March 31,
      2024   2025   2025
      HK$   HK$   US$
    ASSETS          
    Cash and cash equivalents 11,688,383   6,495,155   834,864
    Cash held on behalf of clients 68,639,816   88,246,095   11,342,832
    Restricted cash 1,121   7,857   1,010
    Term deposit 4,990   5,240   674
    Short-term investments 2,411,074   2,659,746   341,874
    Securities purchased under agreements to resell 316,301   468,788   60,256
    Loans and advances-current (net of allowance of HK$85,252 thousand and HK$133,380 thousand as of December 31, 2024 and March 31, 2025, respectively) 49,695,691   48,552,818   6,240,802
    Receivables:          
    Clients 534,077   717,361   92,207
    Brokers 17,224,387   17,913,085   2,302,483
    Clearing organizations 3,277,063   8,189,215   1,052,612
    Fund management companies and fund distributors 1,210,472   1,773,358   227,941
    Interest 597,483   624,324   80,248
    Amounts due from related parties 61,200    
    Prepaid assets 63,497   68,993   8,868
    Other current assets 160,330   753,181   96,811
    Total current assets 155,885,885   176,475,216   22,683,482
               
    Operating lease right-of-use assets 253,212   390,760   50,227
    Long-term investments 573,190   698,183   89,742
    Loans and advances-non-current 18,805   18,843   2,422
    Other non-current assets 2,025,841   3,055,412   392,730
    Total non-current assets 2,871,048   4,163,198   535,121
    Total assets 158,756,933   180,638,414   23,218,603
    LIABILITIES          
    Amounts due to related parties 79,090     154,011     19,796  
    Payables:          
    Clients 72,379,135     95,452,151     12,269,072  
    Brokers 43,697,746     38,246,431     4,916,057  
    Clearing organizations 503,396     357,842     45,996  
    Fund management companies and fund distributors 507,076     1,509,340     194,005  
    Interest 86,964     69,180     8,892  
    Borrowings 5,702,259     9,897,658     1,272,209  
    Securities sold under agreements to repurchase 2,574,659     929,084     119,421  
    Lease liabilities-current 144,357     132,750     17,063  
    Accrued expenses and other current liabilities 4,936,805     3,316,253     426,259  
    Total current liabilities 130,611,487     150,064,700     19,288,770  
               
    Lease liabilities-non-current 132,924     275,538     35,418  
    Other non-current liabilities 8,061     8,058     1,035  
    Total non-current liabilities 140,985     283,596     36,453  
    Total liabilities 130,752,472     150,348,296     19,325,223  
               
               
    SHAREHOLDERS’ EQUITY          
    Class A ordinary shares 72     72     9  
    Class B ordinary shares 27     27     3  
    Additional paid-in capital 18,807,369     18,885,107     2,427,423  
    Treasury stock (5,199,257 )   (5,199,257 )   (668,294 )
    Accumulated other comprehensive loss (249,916 )   (184,687 )   (23,739 )
    Retained earnings 14,652,946     16,798,269     2,159,188  
    Total shareholders’ equity 28,011,241     30,299,531     3,894,590  
               
               
    Non-controlling interest (6,780 )   (9,413 )   (1,210 )
    Total equity 28,004,461     30,290,118     3,893,380  
    Total liabilities and equity 158,756,933     180,638,414     23,218,603  
               
    FUTU HOLDINGS LIMITED

    UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

    (In thousands, except for share and per share data)

      For the Three Months Ended
      March 31,
    2024
      March 31,
    2025
      March 31,
    2025
      HK$   HK$   US$
    Revenues          
    Brokerage commission and handling charge income 1,082,107     2,310,220     296,947  
    Interest income 1,354,166     2,070,469     266,131  
    Other income 156,186     313,948     40,354  
    Total revenues 2,592,459     4,694,637     603,432  
    Costs          
    Brokerage commission and handling charge expenses (60,301 )   (143,505 )   (18,446 )
    Interest expenses (312,842 )   (469,333 )   (60,326 )
    Processing and servicing costs (97,103 )   (136,115 )   (17,496 )
    Total costs (470,246 )   (748,953 )   (96,268 )
    Total gross profit 2,122,213     3,945,684     507,164  
               
    Operating expenses          
    Research and development expenses (335,487 )   (385,979 )   (49,612 )
    Selling and marketing expenses (292,664 )   (459,202 )   (59,024 )
    General and administrative expenses (301,335 )   (415,245 )   (53,374 )
    Total operating expenses (929,486 )   (1,260,426 )   (162,010 )
               
    Income from operations 1,192,727     2,685,258     345,154  
               
    Others, net 31,741     (20,598 )   (2,648 )
               
    Income before income tax expense and share of loss from equity method investments 1,224,468     2,664,660     342,506  
               
    Income tax expense (185,641 )   (490,959 )   (63,106 )
    Share of loss from equity method investments (3,694 )   (30,997 )   (3,984 )
               
    Net income 1,035,133     2,142,704     275,416  
               
    Attributable to:          
    Ordinary shareholders of the Company 1,038,138     2,145,323     275,753  
    Non-controlling interest (3,005 )   (2,619 )   (337 )
      1,035,133     2,142,704     275,416  
    Net income per share attributable to ordinary shareholders of the Company          
    Basic 0.94     1.93     0.25  
    Diluted 0.93     1.91     0.24  
               
    Net income per ADS          
    Basic 7.53     15.44     1.98  
    Diluted 7.46     15.28     1.96  
               
    Weighted average number of ordinary shares used in computing net income per share          
    Basic 1,102,929,775     1,113,426,758     1,113,426,758  
    Diluted 1,114,429,420     1,126,352,076     1,126,352,076  
               
    Net income 1,035,133     2,142,704     275,416  
    Other comprehensive (loss)/income, net of tax          
    Foreign currency translation adjustment (29,441 )   65,215     8,382  
    Total comprehensive income 1,005,692     2,207,919     283,798  
               
    Attributable to:          
    Ordinary shareholders of the Company 1,008,732     2,210,552     284,136  
    Non-controlling interests (3,040 )   (2,633 )   (338 )
      1,005,692     2,207,919     283,798  
    FUTU HOLDINGS LIMITED

    UNAUDITED RECONCILIATIONS OF NON-GAAP AND GAAP RESULTS

    (In thousands)

      For the Three Months Ended
      March 31,
    2024
      March 31,
    2025
      March 31,
    2025
      HK$   HK$   US$
               
    Net income 1,035,133   2,142,704   275,416
    Add: Share-based compensation expenses 85,938   74,199   9,537
    Adjusted net income 1,121,071   2,216,903   284,953
               

    Non-GAAP to GAAP reconciling items have no income tax effect.

    The MIL Network

  • MIL-OSI: Aurora Mobile Limited Announces First Quarter 2025 Unaudited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SHENZHEN, China, May 29, 2025 (GLOBE NEWSWIRE) — Aurora Mobile Limited (“Aurora Mobile” or the “Company”) (NASDAQ: JG), a leading provider of customer engagement and marketing technology services in China, today announced its unaudited financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Financial Highlights

    • Revenues were RMB89.0 million (US$12.3 million), an increase of 38% year-over-year.
    • Cost of revenues was RMB30.1 million (US$4.2 million), an increase of 66% year-over-year.
    • Gross profit was RMB58.8 million (US$8.1 million), an increase of 27% year-over-year.
    • Total operating expenses were RMB60.6 million (US$8.3 million), an increase of 14% year-over-year.
    • Net loss was RMB1.6 million (US$0.2 million), compared with a net loss of RMB2.6 million for the same quarter last year.
    • Net loss attributable to Aurora Mobile Limited’s shareholders was RMB2.6 million (US$0.4 million), compared with a net loss attributable to Aurora Mobile Limited’s shareholders of RMB2.4 million for the same quarter last year.
    • Adjusted net loss (non-GAAP) was RMB1.2 million (US$0.2 million), compared with a RMB1.3 million adjusted net loss for the same quarter last year.
    • Adjusted EBITDA (non-GAAP) was RMB0.5 million (US$63 thousand), compared with RMB0.2 million for the same quarter last year.

    Mr. Weidong Luo, Chairman and Chief Executive Officer of Aurora Mobile, commented, “We have had a great start to 2025. Our Q1’2025 performance and numbers are very impressive.

    • Firstly, our EngageLab business had a “Monster Quarter” where we closed out more than RMB63 million worth of contract value in just one quarter. This brings the total cumulative EngageLab contract value in excess of RMB110 million by March 31, 2025.
    • Secondly, the Group’s revenue this quarter reached RMB89.0 million, achieving a remarkable 38% growth year-over-year. EngageLab’s recognized revenue also grew by 127% year-over-year.
    • Thirdly, our Financial Risk Management business had its best quarter in history, recording the highest quarterly revenue of RMB22.2 million, revenue grew by 64% year-over-year.
    • Fourthly, gross profit grew strongly by 27% year-over-year, achieving the highest gross profit for the past 9 quarters. Gross margin has also improved 520 basis points quarter-over-quarter!
    • Fifthly, we recorded another Adjusted EBITDA profit in this quarter. This marks the 7th consecutive quarterly positive Adjusted EBITDA we have had.

    With these numbers above, we are equally excited about 2025. This has no doubt set a great momentum for the rest of the 2025 ! The progress in our performance and our solid financial position enable us to invest more resources into the development of our enterprise AI agent platform and its global expansion.”

    Mr. Shan-Nen Bong, Chief Financial Officer of Aurora Mobile, added, “In Q1’2025, our revenue grew by 38% year-over-year, gross profit grew by 27% whilst operating expenses grew by 14%. Overall, we are pleased to see how the operating expenses have been trending in view of the revenue and gross profit growth. This is a sustainable growth model on a long-term basis.”

    First Quarter 2025 Financial Results

    Revenues were RMB89.0 million (US$12.3 million), an increase of 38% from RMB64.5 million in the same quarter of last year, attributable to a 39% increase in revenue from Developer Services and a 35% increase in revenue from Vertical Applications. In particular, the revenues from Value-Added Services within Developer Services increased by 269% compared to the same quarter of last year.

    Cost of revenues was RMB30.1 million (US$4.2 million), an increase of 66% from RMB18.2 million in the same quarter of last year. The increase was mainly due to a RMB5.6 million increase in media cost, a RMB1.6 million increase in short messaging cost, and a RMB4.7 million increase in other direct costs related to revenue generation.

    Gross profit was RMB58.8 million (US$8.1 million), an increase of 27% from RMB46.4 million in the same quarter of last year.

    Total operating expenses were RMB60.6 million (US$8.3 million), an increase of 14% from RMB53.0 million in the same quarter of last year.

    • Research and development expenses were RMB24.6 million (US$3.4 million), an increase of 8% from RMB22.7 million in the same quarter of last year, mainly due to a RMB0.9 million increase in personnel costs and a RMB0.8 million increase in cloud cost.
    • Sales and marketing expenses were RMB23.3 million (US$3.2 million), an increase of 34% from RMB17.4 million in the same quarter of last year, mainly due to a RMB5.2 million increase in personnel costs.
    • General and administrative expenses were RMB12.7 million (US$1.7 million), a decrease of 2% from RMB12.9 million in the same quarter of last year, mainly due to a RMB0.6 million decrease in share-based compensation expenses.

    Loss from operations was RMB1.5 million (US$0.2 million), compared with RMB5.1 million in the same quarter of last year.

    Net Loss was RMB1.6 million (US$0.2 million), compared with RMB2.6 million in the same quarter of last year.

    Adjusted net loss (non-GAAP) was RMB1.2 million (US$0.2 million), compared with RMB1.3 million in the same quarter of last year.

    Adjusted EBITDA (non-GAAP) was RMB0.5 million (US$63 thousand) compared with RMB0.2 million for the same quarter of last year.

    The cash and cash equivalents and restricted cash were RMB113.6 million (US$15.7 million) as of March 31, 2025 compared with RMB119.5 million as of December 31, 2024.

    Business Outlook

    For the second quarter of 2025, the Company expects the total revenue to be between RMB87.5 million and RMB90.5 million, representing year-over-year growth of approximately 10% to 14%.

    The above outlook is based on the current market conditions and reflects the Company’s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.

    Update on Share Repurchase

    As of March 31, 2025, the Company had repurchased a total of 295,179 ADS, of which 16,322 ADSs, or around US$170.5 thousand were repurchased during the first quarter in 2025.

    Conference Call

    The Company will host an earnings conference call on Thursday, May 29, 2025 at 7:30 a.m. U.S. Eastern Time (7:30 p.m. Beijing time on the same day).

    All participants must register in advance to join the conference using the link provided below. Please dial in 15 minutes before the call is scheduled to begin. Conference access information will be provided upon registration.

    Participant Online Registration:
    https://register-conf.media-server.com/register/BI47c63565ef284b3784a50da74dc4a38e

    A live and archived webcast of the conference call will be available on the Investor Relations section of Aurora Mobile’s website at https://ir.jiguang.cn/

    Use of Non-GAAP Financial Measures

    In evaluating the business, the Company considers and uses two non-GAAP measures, adjusted net (loss)/income and adjusted EBITDA, as a supplemental measure to review and assess its operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. The Company defines adjusted net (loss)/income as net loss excluding share-based compensation. The Company defines adjusted EBITDA as net loss excluding interest expense, depreciation of property and equipment, amortization of intangible assets, income tax expenses/(benefits) and share-based compensation.

    The Company believes that adjusted net (loss)/income and adjusted EBITDA help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in loss from operations and net loss.

    The Company believes that adjusted net (loss)/income and adjusted EBITDA provide useful information about its operating results, enhance the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.

    The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using adjusted net (loss)/income and adjusted EBITDA is that they do not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

    The Company compensates for these limitations by reconciling the non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

    Reconciliations of the non-GAAP financial measures to the most comparable U.S. GAAP measure are included at the end of this press release.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under 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,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as Aurora Mobile’s strategic and operational plans, contain forward-looking statements. Aurora Mobile may also make written or oral forward-looking statements in its reports to the U.S. Securities and Exchange Commission, 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 but not limited to statements about Aurora Mobile’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Aurora Mobile’s strategies; Aurora Mobile’s future business development, financial condition and results of operations; Aurora Mobile’s ability to attract and retain customers; its ability to develop and effectively market data solutions, and penetrate the existing market for developer services; its ability to transition to the new advertising-driven SAAS business model; its ability to maintain or enhance its brand; the competition with current or future competitors; its ability to continue to gain access to mobile data in the future; the laws and regulations relating to data privacy and protection; general economic and business conditions globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release, and Aurora Mobile undertakes no duty to update such information, except as required under applicable law.

    About Aurora Mobile Limited

    Founded in 2011, Aurora Mobile is a leading provider of customer engagement and marketing technology services in China. Since its inception, Aurora Mobile has focused on providing stable and efficient messaging services to enterprises and has grown to be a leading mobile messaging service provider with its first-mover advantage. With the increasing demand for customer reach and marketing growth, Aurora Mobile has developed forward-looking solutions such as Cloud Messaging and Cloud Marketing to help enterprises achieve omnichannel customer reach and interaction, as well as artificial intelligence and big data-driven marketing technology solutions to help enterprises’ digital transformation.

    For more information, please visit https://ir.jiguang.cn/.

    For investor and media inquiries, please contact:

    Aurora Mobile Limited

    ir@jiguang.cn

    Christensen

    In China

    Ms. Xiaoyan Su

    Phone: +86-10-5900-1548

    E-mail: Xiaoyan.Su@christensencomms.com 

    In U.S.

    Ms. Linda Bergkamp

    Phone: +1-480-614-3004

    Email: linda.bergkamp@christensencomms.com 

    Footnote:

    This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.2567 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2025.

     
    AURORA MOBILE LIMITED
    UNAUDITED INTERIM CONDENSED CONSOLIDATED INCOME STATEMENTS
    (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”), except for number of shares and per share data)
                     
        Three months ended
        March 31, 2024   December 31, 2024   March 31, 2025
        RMB   RMB   RMB   US$
                     
    Revenues   64,524     93,153     88,961     12,259  
    Cost of revenues   (18,152 )   (36,468 )   (30,117 )   (4,150 )
    Gross profit   46,372     56,685     58,844     8,109  
    Operating expenses                
    Research and development   (22,681 )   (24,326 )   (24,607 )   (3,391 )
    Sales and marketing   (17,391 )   (24,583 )   (23,303 )   (3,211 )
    General and administrative   (12,932 )   (11,392 )   (12,676 )   (1,747 )
    Total operating expenses   (53,004 )   (60,301 )   (60,586 )   (8,349 )
    Other operating income   1,579     3,393     197     27  
    Loss from operations   (5,053 )   (223 )   (1,545 )   (213 )
    Foreign exchange (loss)/gain, net   (23 )   (62 )   38     5  
    Interest income   2,187     288     236     33  
    Interest expenses   (6 )   (42 )   (39 )   (5 )
    Other income/(loss)   15     (805 )        
    Gains from fair value change   23     45     38     5  
    Loss before income taxes   (2,857 )   (799 )   (1,272 )   (175 )
    Income tax benefits/(expenses)   244     105     (336 )   (46 )
    Net loss   (2,613 )   (694 )   (1,608 )   (221 )
    Less: net (loss)/income attributable to noncontrolling interests   (214 )   372     944     130  
    Net loss attributable to Aurora Mobile Limited’s shareholders   (2,399 )   (1,066 )   (2,552 )   (351 )
    Net loss per share, for Class A and Class B common shares:                
    Class A and B Common Shares – basic and diluted   (0.03 )   (0.01 )   (0.03 )   (0.00 )
    Shares used in net loss per share computation:                
    Class A Common Shares – basic and diluted   62,687,345     63,200,100     63,254,710     63,254,710  
    Class B Common Shares – basic and diluted   17,000,189     17,000,189     17,000,189     17,000,189  
    Other comprehensive income/(loss)                
    Foreign currency translation adjustments   78     1,357     (82 )   (11 )
    Total other comprehensive income/(loss), net of tax   78     1,357     (82 )   (11 )
    Total comprehensive (loss)/income   (2,535 )   663     (1,690 )   (232 )
    Less: comprehensive (loss)/income attributable to noncontrolling interests   (214 )   372     944     130  
    Comprehensive (loss)/income attributable to Aurora Mobile Limited’s shareholders   (2,321 )   291     (2,634 )   (362 )
                     
    AURORA MOBILE LIMITED
    UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
    (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
                 
        As of
        December 31, 2024   March 31, 2025
        RMB   RMB   US$
    ASSETS            
    Current assets:            
    Cash and cash equivalents   119,171     113,267     15,609  
    Restricted cash   376     375     52  
    Accounts receivable   50,804     54,071     7,451  
    Prepayments and other current assets   14,264     17,354     2,391  
    Total current assets   184,615     185,067     25,503  
    Non-current assets:            
    Long-term investments   113,506     113,458     15,635  
    Property and equipment, net   4,573     4,331     597  
    Operating lease right-of-use assets   17,146     15,892     2,190  
    Intangible assets, net   13,767     12,788     1,762  
    Goodwill   37,785     37,785     5,207  
    Deferred tax assets   131     167     23  
    Other non-current assets   6,510     6,503     895  
    Total non-current assets   193,418     190,924     26,309  
    Total assets   378,033     375,991     51,812  
    LIABILITIES AND SHAREHOLDERS’ EQUITY            
    Current liabilities:            
    Short-term loan   3,000          
    Accounts payable   32,691     34,114     4,701  
    Deferred revenue and customer deposits   147,111     156,929     21,625  
    Operating lease liabilities   4,461     4,152     572  
    Accrued liabilities and other current liabilities   74,370     66,407     9,151  
    Total current liabilities   261,633     261,602     36,049  
    Non-current liabilities:            
    Operating lease liabilities   13,376     12,292     1,694  
    Deferred tax liabilities   3,059     2,891     398  
    Other non-current liabilities   567     567     78  
    Total non-current liabilities   17,002     15,750     2,170  
    Total liabilities   278,635     277,352     38,219  
    Shareholders’ equity:            
    Common shares   50     51     7  
    Treasury shares   (1,674 )   (2,898 )   (399 )
    Additional paid-in capital   1,045,221     1,047,375     144,332  
    Accumulated deficit   (995,715 )   (998,267 )   (137,565 )
    Accumulated other comprehensive income   20,040     19,958     2,750  
    Total Aurora Mobile Limited’s shareholders’ equity   67,922     66,219     9,125  
    Noncontrolling interests   31,476     32,420     4,468  
    Total shareholders’ equity   99,398     98,639     13,593  
    Total liabilities and shareholders’ equity   378,033     375,991     51,812  
                 
    AURORA MOBILE LIMITED
    RECONCILIATION OF GAAP AND NON-GAAP RESULTS
    (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
                     
        Three months ended
        March 31, 2024   December 31, 2024   March 31, 2025
        RMB   RMB   RMB   US$
    Reconciliation of Net Loss to Adjusted Net (Loss)/Income:              
    Net loss   (2,613 )   (694 )   (1,608 )   (221 )
    Add:                
    Share-based compensation   1,268     795     407     56  
    Adjusted net (loss)/income   (1,345 )   101     (1,201 )   (165 )
    Reconciliation of Net Loss to Adjusted EBITDA:                
    Net loss   (2,613 )   (694 )   (1,608 )   (221 )
    Add:                
    Income tax (benefits)/expenses   (244 )   (105 )   336     46  
    Interest expenses   6     42     39     5  
    Depreciation of property and equipment   380     197     266     37  
    Amortization of intangible assets   1,369     1,052     1,019     140  
    EBITDA   (1,102 )   492     52     7  
    Add:                
    Share-based compensation   1,268     795     407     56  
    Adjusted EBITDA   166     1,287     459     63  
                     
    AURORA MOBILE LIMITED
    UNAUDITED SAAS BUSINESSES REVENUE
    (Amounts in thousands of Renminbi (“RMB”) and US dollars (“US$”))
                     
                     
        Three months ended
        March 31, 2024   December 31, 2024   March 31, 2025
        RMB   RMB   RMB   US$
                     
    Developer Services   44,749     70,998     62,322     8,588  
    Subscription   42,351     54,687     53,467     7,368  
    Value-Added Services   2,398     16,311     8,855     1,220  
    Vertical Applications   19,775     22,155     26,639     3,671  
    Total Revenue   64,524     93,153     88,961     12,259  
    Gross Profits   46,372     56,685     58,844     8,109  
    Gross Margin   71.9%     60.9%     66.1%     66.1%  
                     

    The MIL Network

  • MIL-OSI: Temenos Forward Awards celebrate banks leading the way in innovation

    Source: GlobeNewswire (MIL-OSI)

    GRAND-LANCY, Switzerland, May 29, 2025 (GLOBE NEWSWIRE) — Temenos (SIX: TEMN), a global leader in banking technology, today announced the winners of the Temenos Forward Awards 2025, which recognize the innovation of Temenos customers who are leading the way in the banking industry.

    Jean-Pierre Brulard, Chief Executive Officer, Temenos, commented: “As banks adapt to changing customer demands and the opportunities and challenges of transformative technologies such as Generative AI, the Temenos community is shaping the future of finance. We are delighted to recognize the success of banks at the forefront of innovation with our Temenos Forward Awards. Congratulations to all our award winners. Together, we are leading banking forward.”

    The following awards were selected by a judging panel comprised of Temenos executives, previous award winners, journalists and industry analysts.

    Future-Ready Banking Award – Santander International

    In 2024, Santander International became the first Temenos client to utilize lending on the Temenos SaaS Foundation Platform. Throughout the program it has transitioned to a near-zero customization SaaS architecture with integrations that enhance customer analysis and reporting, demonstrating Santander International’s commitment to agility and customer-centric solutions.

    Customer Experience Excellence Award – PC Financial

    Part of Loblaw Companies Limited, Canada’s leading food and pharmacy retailer, PC Financial offers a range of financial products designed to deliver on the company’s purpose – helping Canadians Live Life Well. The retailer went live on Temenos SaaS in just six months and has raised the bar in digital banking with the launch of an innovative new savings feature for the PC Money Account. PC Financial is seeing strong customer engagement with this feature and stands out with a unique customer experience strategy that seamlessly blends everyday banking products with retail offerings.

    Fast Track Growth Award – STC Bank

    STC Bank has emerged as a fintech leader in Saudi Arabia, transforming from STC Pay into STC Bank as a fully licensed digital bank. This evolution highlights its strategic investment in cutting-edge technologies and innovation to redefine banking services standards in the region. With Temenos Core, the bank has successfully launched a microservice and data-driven architecture and is expanding into innovative lending and digital deposit solutions, reinforcing its strategy of modular, data-driven offerings.

    Digital Transformation Award – Credem

    Credem, a prominent Italian bank, has emerged as a digital banking frontrunner through its deep commitment to innovation and client-centric experiences. Having launched several new mobile apps using Temenos Digital, the bank offers a seamless, consistent experience for Retail, SME, and Private Wealth clients. In 2024, Credem successfully launched a new Retail Online Banking (OLB) platform as well as a completely redesigned mobile banking interface, leading to a significantly enhanced user experience and a marked improvement in its AppStore ratings.

    Ambassador Award – Jihyun Lee (Bank Julius Baer)

    As Head of IT APAC and Global Core Banking at Bank Julius Baer, Jihyun has consistently demonstrated visionary leadership, driving transformative projects that redefine modern core banking systems. Her expertise in pioneering innovations such as fully automated CI/CD pipelines and real-time integration patterns has positioned her as a trusted strategic partner within the Temenos community. Jihyun’s commitment to excellence and her ability to foster collaborative relationships make her a true ambassador of Temenos’ values and a thought leader in the industry.

    Additionally, the following clients were chosen for a People’s Choice Award for their successful deployment of an innovative solution. Voting was conducted by a jury, as well as peers on social media.

    People’s Choice Award (Banking Innovation) – MIDBANK

    Established in 1975, MIDBANK provides retail, corporate, and investment banking services across Egypt. The bank has modernized its core and digital banking operations with Temenos to enhance efficiency and customer experience. This has led to a 30% reduction in processing times for transactions, projected annual savings of 20% in operational costs due to improved automation and streamlined workflows, and 25% higher customer satisfaction scores within the first six months of its migration.

    People’s Choice Award (Banking Innovation) – EQ Bank

    EQ Bank is Canada’s first-born digital bank, showing Canadians how banking can – and should – be better. In collaboration with Temenos and Microsoft, EQ Bank developed the TDH-EQB Fabric environment – an innovative solution enabling near real-time data access within the Temenos Data Hub (TDH) environment. This initiative delivers significant benefits to both EQ Bank and Temenos by enhancing performance, optimizing operational efficiency, and enabling faster insights.

    The MIL Network