Microsoft Says Chinese State-Backed Hackers Exploiting Flaws in Attacks
Microsoft said in a notice on its security blog on Tuesday that it had identified at least two China-based groups linked to the Chinese government that it said had been taking advantage of security flaws in its SharePoint software. Such attacks aim to sneak into the computer systems of users.
Those groups, called Linen Typhoon and Violet Typhoon, were ones that Microsoft said it had been tracking for years, and which it said had been targeting organizations and personnel related to government, defense, human rights, higher education, media, and financial and health services in the United States, Europe and East Asia.
Microsoft said another actor, which it called Storm-2603, was also involved in the hacking campaign. It said it had 'medium confidence' that Storm-2603 was a 'China-based threat actor.'
The U.S. government's Cybersecurity and Infrastructure Security Agency issued a notice that said it was aware of the hacking attack on SharePoint. It added that it had notified 'critical infrastructure organizations' that were affected.
'While the scope and impact continue to be assessed,' the agency said, the vulnerabilities would enable 'malicious actors to fully access SharePoint content, including file systems and internal configurations and execute code over the network.'
Want all of The Times? Subscribe.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
Forvia SE (FURCF) H1 2025 Earnings Call Highlights: Navigating Growth Amidst Market Challenges
Revenue: EUR13.5 billion, up 1.1% organically. Product Sales Growth: Increased by 2.9%. Operating Margin: Improved by 20 basis points to 5.4%. Net Cash Flow: EUR418 million, driven by stronger EBITDA and reduced CapEx. Net Debt Reduction: Decreased by EUR193 million to EUR6.3 billion. Leverage Ratio: Reduced to 1.8 times. Order Intake: EUR14 billion, with Asia and Electronics as key growth drivers. Net Loss: EUR269 million, impacted by a EUR136 million charge related to SYMBIO. Cost Reduction: EUR90 million reduction in fixed costs. CapEx Reduction: Tangible CapEx down 35%. Currency Impact: Negative 1.5% impact on revenues due to currency effects. Warning! GuruFocus has detected 8 Warning Signs with FURCF. Release Date: July 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Forvia SE (FURCF) reported an increase in operating margin by 20 basis points to 5.4%, supported by strict cost control and effective tariff mitigation. The company achieved significant net cash flow improvement, reaching EUR418 million, driven by stronger EBITDA and reduced CapEx. Forvia SE (FURCF) reduced its net debt by almost EUR200 million, lowering the leverage ratio to 1.8 times. The company secured EUR14 billion in new orders, with strong commercial success in China, accounting for 30% of global order intake. The Electronics business recorded strong commercial success, representing 34% of the order intake, with significant orders in zone controllers and battery management systems. Negative Points Forvia SE (FURCF) posted a net loss of EUR269 million in H1, primarily due to a non-cash charge related to SYMBIO and high restructuring charges. The company experienced a 0.4% decline in reported sales due to negative currency effects, impacting revenues by 1.5%. Organic growth of 1.1% represented an underperformance of 2 points compared to global automotive production. The Interiors division faced operational challenges in North America, impacting profitability. The company is facing uncertainty and volatility in the automotive market, with a forecasted 2.2% decline in production compared to H2 of the prior year. Q & A Highlights Q: Can you discuss the sustainability of the impressive CapEx decline and what you are targeting for the second half of the year? A: Martin Fischer, CEO: We have worked on CapEx and R&D very carefully, achieving true reductions in gross R&D and maintaining a strict regime on CapEx. Some program delays helped hold CapEx back in H1. We expect to maintain good discipline in H2, but the reduction might not be as significant as in H1. Q: With the new restructuring plan, Simplify, can you provide more details on the phasing of expected savings and restructuring costs? A: Martin Fischer, CEO: Project Simplify is a longer-term effort spanning three years, aiming for EUR110 million in savings by 2028, with restructuring costs of EUR150 million spread over 2026-2028. We aim to achieve 40% of the savings by 2026. Q: Regarding disposals, should we expect any significant disposals by the next Capital Markets Day? A: Martin Fischer, CEO: We are working full speed on disposals and have received positive market feedback. We are committed to reducing the leverage ratio to 1.5 times by next year, but the timing of disposals will depend on negotiations. Q: Can you comment on the plan to improve the profitability of the Interior division? A: Martin Fischer, CEO: We have seen improvements but need to address operational challenges in North America. We are reinforcing teams and leadership, focusing on becoming more locally adapted, and implementing the FORVIA Excellence System to drive improvements. Q: What are your goals for gross debt reduction and ideal cash balance in the intermediate term? A: Olivier Durand, CFO: Our objective is to be below 1.5 times leverage by the end of 2026, with a midterm goal of EUR3.5 billion in gross cash. We aim for investment-grade eligibility, targeting a leverage ratio around 1.2 times. Q: How do you plan to improve the outperformance of the business in China? A: Martin Fischer, CEO: We have a strong local team empowered to cater to customer needs, focusing on cost efficiency and innovation. We aim to be first to market with new products, leveraging local competencies and speed to market. Q: Can you update on the factoring program for this year and next? A: Olivier Durand, CFO: We are committed to keeping factoring below EUR1.3 billion, which is a cap we have maintained since acquiring HELLA. This is one of our funding sources, and we monitor its cost and value closely. Q: With better-than-expected free cash flow in H1, why not increase the full-year guidance? A: Olivier Durand, CFO: We confirm our guidance to be above last year's EUR655 million. While H1 results are encouraging, we must consider potential volume declines and increased restructuring in H2. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12 minutes ago
- Yahoo
Sanmina Corp (SANM) Q3 2025 Earnings Call Highlights: Strong Revenue Growth and Strategic ...
Revenue: $2.04 billion, up 10.9% year over year. Non-GAAP Gross Margin: 9.1%, a 60 basis point improvement year over year. Non-GAAP Operating Margin: 5.7%, a 40 basis point improvement year over year. Non-GAAP Diluted EPS: $1.53, a 22.8% increase year over year. IMS Revenue: $1.65 billion, up 11.6% year over year. CPS Revenue: $422 million, up 8.8% year over year. CPS Non-GAAP Gross Margin: 14.7%, a 320 basis point improvement year over year. Cash and Cash Equivalents: $798 million. Free Cash Flow: $168 million for the quarter. Inventory Turns: Improved to 6.3 times from 5.1 times year over year. Non-GAAP Pretax ROIC: 24.8%, up from 21.1% year over year. Share Repurchase: 0.2 million shares for $13 million during the quarter. Fourth Quarter Revenue Outlook: $2.0 billion to $2.1 billion. Fourth Quarter Non-GAAP EPS Outlook: $1.52 to $1.62. Warning! GuruFocus has detected 4 Warning Sign with RMBS. Release Date: July 28, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Sanmina Corp (NASDAQ:SANM) reported solid revenue of $2.04 billion for the third quarter, exceeding their outlook. Non-GAAP diluted earnings per share increased by 22.8% year over year, reaching $1.53. The company achieved a non-GAAP operating margin of 5.7%, at the high end of their outlook. Sanmina Corp (NASDAQ:SANM) generated strong cash flow from operations, totaling $201 million for the third quarter. The planned acquisition of ZT Systems is expected to add $5 billion to $6 billion of annual net revenue, potentially doubling Sanmina's revenue within three years. Negative Points Non-GAAP operating expenses were slightly above outlook, reflecting continued strategic investments. The automotive and transportation segment experienced some softness with slower demand. There are ongoing uncertainties related to tariffs and the geopolitical landscape, which could impact future performance. The acquisition of ZT Systems involves a significant investment in working capital, primarily inventory, which carries inherent risks. The company's guidance for the fourth quarter suggests a slowdown in year-over-year revenue growth compared to the third quarter. Q & A Highlights Q: Can you provide an update on the ZT Systems acquisition and its expected revenue impact? Is the business still experiencing declining revenues, and what are your plans to turn it around? A: Jure Sola, CEO: We remain excited about the ZT Systems acquisition, expecting it to add $5 billion to $6 billion in annual net revenue. The business is stable, and we see significant potential for growth. We are already engaging with critical customers and plan to enhance our sales force and technical support to capitalize on opportunities. The business is profitable, and we anticipate further growth post-acquisition. Q: Your Q3 showed strong growth, but Q4 guidance suggests a slowdown. Can you explain this and provide insights into fiscal 2026 expectations? A: Jure Sola, CEO: The business remains stable, and the Q4 guidance reflects a more predictable environment compared to last year's choppy conditions. We are optimistic about fiscal 2026, expecting to maintain or exceed the current growth rate, barring any unforeseen macroeconomic disruptions. Q: CPS margins improved significantly. Were there any one-time factors contributing to this? A: Jon Faust, CFO: The margin improvement was primarily due to business mix and ongoing investments. There were no one-time factors. We aim to maintain margins above 15% and continue to drive improvements across all divisions. Q: What are the risks associated with the inventory in the ZT Systems acquisition? A: Jon Faust, CFO: We have a $2 billion working capital target, primarily inventory, and have thoroughly evaluated it with AMD. While there are inherent risks, we are confident in the inventory's alignment with customer demand and forecasts. Q: With the expected revenue from the ZT acquisition, where do you see operating margins heading? A: Jure Sola, CEO: We anticipate operating margins to exceed 6%, with potential upside as we integrate ZT Systems and leverage our end-to-end solutions for data center and AI markets. We will provide more detailed guidance post-acquisition closure. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
12 minutes ago
- Yahoo
China's soymeal glut raises demand doubts ahead of US soybean export season
By Ella Cao and Naveen Thukral BEIJING/SINGAPORE (Reuters) -China's appetite for soybeans is likely to weaken during the peak U.S. marketing season later this year, as record imports earlier in 2025 and tepid demand from animal feed producers have pushed up soymeal inventories at home, trade sources said. The world's biggest soybean importer has yet to book U.S. cargoes for the fourth quarter, with traders closely monitoring talks in Stockholm aimed at resolving longstanding economic disputes at the centre of the U.S.-China trade war. A slowdown in Chinese demand could pressure Chicago soybean futures, which are already down for a second consecutive week on expectations of a bumper U.S. harvest. [GRA/] China's soymeal futures fell for a fourth straight session on Tuesday amid ample supplies. In the physical market, spot soymeal in north China was quoted at 2,925 yuan ($408) per metric ton, down 6.5% from 3,130 yuan a year ago, said Wang Wenshen, an analyst at Shandong province-based consultancy Sublime China Information. "If third-quarter prices stay weak and crushers face losses, fourth-quarter soybean purchases may fall short of expectations," Wang said. The last quarter of the year is typically the main U.S. soybean marketing season. China's overall soybean imports hit a record high in May and their second-highest level in June, boosting oilseed processing and leading to a buildup in soymeal inventories, traders said. CRUSHER SHUTDOWNS The surplus is straining China's crushing plants, with some already shutting down due to storage constraints. "Small-scale shutdowns have already begun at crushing plants in regions like south China primarily because soybean meal has accumulated with no room for more stock," said a Shanghai-based trader, adding that a broader suspension was "highly likely". Crush margins in Rizhao, China's main processing hub, have been negative since mid-May. The glut has been worsened by weak demand from animal feed producers amid sluggish meat consumption in the world's top pork market. Crushers will face "huge soymeal stock pressure" over the next one to two months, said Cheang Kang Wei, vice president at StoneX in Singapore. Authorities have pledged to cut breeding sow numbers, curb new capacity, and reduce soymeal use in feed to stabilise meat prices after steep declines this year, measures analysts say will further limit soymeal consumption. China's purchases of Argentine soymeal, amid high tariffs of U.S. beans, in the last few weeks are likely to add to the glut. "Even with such big supply of soymeal in the local market, it is profitable to import meal from Argentina," said a Singapore-based trader at an international trading company. "This will only add to the stocks of soymeal." A trade deal with Washington could shift buying patterns. "If a trade deal is reached, Chinese buyers could resume U.S. purchases for the fourth quarter, as prices are favourable without tariffs," said Johnny Xiang, founder of Beijing-based AgRadar Consulting. ($1 = 7.1767 Chinese yuan)
