China signs onto rare earth export deal with US.
China signs onto rare earth export deal with US.
On Friday, China's Commerce Ministry said on state media that it will 'review and approve eligible export applications for controlled items in accordance with the law' in response to a question about rare earth materials.
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Forbes
37 minutes ago
- Forbes
U.S. - China Rare Earths Minerals Deal Can Be Upscaled Via G20
Samples of rare metals displayed in Sillamae, Estonia, where a company is building a new plant to ... More try and challenge China's grip on rare earth magnets, a vital component of electric vehicles. Photographer: Peter Kollanyi/Bloomberg The announcement of a deal between the United States and China on rare earth magnets for a range of technologies is a welcome reprieve for many technology companies and for the defense sector as well. Yet, this deal remains fragile in the context of capricious tariffs and a dysfunctional dispute resolution system within the World Trade Organization. What is now needed is to capitalize on the deal and use it as a confidence-building measure to establish a longer-term international agreement for managing critical minerals supply. In a recent paper, myself and a coalition of scholars from across a range of mineral producing and consuming countries have argued for a 'minerals trust' for the green transition. We also prepared an accompanying policy brief under the auspices of the United Nations University to provide specific policy recommendations ahead of the G7 meeting in Canada earlier this month. The G7 issued a communique on critical minerals on June 17th which was fairly broad in scope but most noteworthy was the fact that China was not singled out for constraining mineral supply. Furthermore, the communique explicitly mentioned the role of the more multilateral G20 organization in furthering aspirations for investment, particularly through the G20 Compact for Africa. China as well as Russia are of course members of the G20 along with other key mineral producers such as Indonesia, Saudi Arabia, Türkiye, Brazil and South Africa. It would be opportune to now move the conversations on minerals diplomacy to the G20 which will incidentally be chaired by the United States of America in 2026. A key intermediary step will be the planned critical minerals conference this September in Chicago which has been announced already at the G7 meetings. At this conference, there needs to be consensus reached on what are realistic targets for 'near-shoring' and diversification based on thigh quality ore bodies and economically feasible technologies. Mineral extraction sites are geologically determined and any policies that set targets for domestic production need to be predicated in geoscience. The challenge at present is that there are more than 400 national policies on critical minerals in various forms worldwide according to the International Energy Agency's policy tracking tool. Most of these policies are not aligned with geoscience or economics of extraction. Furthermore, they often neglect the prospects for a circular economy as well for minerals. The rare earths deal between the United States and China should be expanded to have a systems level approach towards building a minerals trust, particularly for those metals needed for the Green Transition. The trust would also provide opportunities to have stockpiles and source metals from recycled sources. Currently, less than 5% of rare earth magnets are recycled but this may soon change based on recent technologies that have been developed by Swiss Federal Institute of Technology in Zurich (ETH). Yet much of the infrastructure from which these magnets would be recycled is also in China. Ultimately, even with diversification efforts, China's role in sourcing rare earths from both primary and secondary source cannot be discounted and pursuing a cooperative approach is both ecologically and economically prudent.
Associated Press
43 minutes ago
- Associated Press
HOTEL101 GLOBAL RECEIVES APPROVAL TO LIST ON NASDAQ UNDER "HBNB"
Celebrated Public Listing by Ringing the Opening Bell Today at the Nasdaq Stock Exchange SINGAPORE, June 27, 2025 /PRNewswire/ -- Hotel101 Global Holdings Corp. ('Hotel101" or 'HBNB'), an asset-light, prop-tech hospitality platform business designed for rapid global growth, announced that it has received approval to list on the Nasdaq Stock Exchange, and its shares are set to begin trading on July 1, 2025. Hotel101 celebrated its U.S. public listing by ringing the Opening Bell today. Trading is scheduled to commence under the ticker symbol 'HBNB' following the expected completion of Hotel101's business combination with JVSPAC Acquisition Corp. (Nasdaq: JVSA), which was approved by JVSPAC shareholders on June 24, 2025. With a deemed equity value at closing of US$2.3 billion, Hotel101 is the first Filipino-owned company to be listed and traded on the Nasdaq. Hotel101 is a subsidiary of Philippine-listed DoubleDragon Corporation (PSE: DD). The ceremony can be viewed at and on the Nasdaq MarketSite Tower in Times Square. Hannah Yulo-Luccini, CEO of Hotel101, said: 'Today is an exciting milestone in Hotel101's journey to become the world's first truly global one-room hotel chain. Hotel101 was born from a simple, revolutionary idea: a 'one room' global hotel brand delivering consistent comfort and irresistible value worldwide. Our asset-light, technology-driven platform positions us to scale rapidly, with a goal to disrupt the hospitality industry globally with 1 million rooms across 100 countries.' Edgar 'Injap' Sia II, Chairman and CEO of DoubleDragon Corporation and Founder of Hotel101, said: 'This is a historic moment for DoubleDragon, becoming the first-ever Filipino company with a subsidiary listed and traded on the Nasdaq. It reflects the strength of our vision and the dedication of everyone who has helped bring Hotel101 to this global stage. And we're just getting started – with a globally scalable model and a long runway ahead, we aim to redefine the industry and become a leading global hospitality brand working towards our vision of an inventory of 1 million Hotel101 rooms globally.' Accelerating global expansion Hotel101's management believes that Hotel101 properties are efficient to build, maintain, and operate – as well as scale and expand through direct development, joint venture partnerships, and franchise arrangements. Building on the success of Hotel101-branded properties in the Philippines – where there are two operating properties and a number under development – Hotel101 intends to accelerate its global expansion plans. Hotel101-Madrid, a 680-room development adjacent to the new Formula 1 ('F1") Spanish Grand Prix Circuit in Valdebebas, is slated for completion in December 2025. Earlier this month, Hotel101 signed a 10-year agreement with an affiliate of MATCH Hospitality AG, making it an official hotel partner of the F1 Spanish Grand Prix from 2026 to 2035. In May 2025, Hotel101 signed an agreement with Saudi Arabia's Horizon Group to, subject to additional contract, establish a joint venture for the development of up to 10 hotels in Saudi Arabia. The partnership underscores Hotel101's confidence in the Kingdom's dynamic tourism market, one of the fastest-growing globally under Vision 2030. Construction is underway for Hotel101-Niseko, a 482-room property in Hokkaido, Japan. The company has also secured a site in Los Angeles, California, marking its entry into the U.S. market. In parallel, Hotel101 is actively pursuing five additional joint ventures, further advancing its goal of establishing a presence in 25 priority markets in the medium term. Hotel101's unique business model Hotel101's management believes that Hotel101's global 'one room' hotel chain model is poised to disrupt the hospitality industry by offering identical, standardized hotel rooms globally. In standardization, Hotel101 sees a global opportunity in the hospitality space that brings enhanced efficiency, especially for the value segment, enabling customers to know exactly what to expect whenever they stay at a Hotel101 property. With identical hotel units, Hotel101 streamlines development, operations, and guest experiences. Hotel101's proprietary app, which has over 1 million registered users, serves as a centralized platform for reservations, guest services, and loyalty programs. It adopts dynamic pricing for room rates and offers self-check in, made efficient by the availability of just one type of room. Hotel101 expects to set a new standard for efficiency, predictability, and scalability, creating sustained value for customers globally. Hotel101's asset-light 'condotel' prop-tech business model is designed to scale efficiently while maximizing value for both unit owners and guests. Hotel101 generates revenue twice: first, from the pre-selling of individual hotel units during the construction phase; and second, from long-term recurring revenue derived from day-to-day hotel operations following completion of the units. By pre-selling standardized hotel units, Hotel101 generates upfront capital to fund new developments and expand rapidly. Its long-term management contracts with unit owners create a stable and recurring revenue stream. Hotel101 aims to bridge the gap between traditional hotels and fragmented hospitality marketplaces. Unlike traditional hotel chains that require significant capital investment to scale or marketplace aggregators that lack consistency and branding, Hotel101's model provides individual condominium unit owners with direct hotel unit ownership while maintaining the brand consistency and professional management of a global hotel chain. Hotel101's management believes that its properties will also receive arguably higher acceptance in the communities where they operate as all Hotel101 properties are purposely built as hospitality assets. About Hotel101 Global Holdings Corp. Headquartered in Singapore, Hotel101 is an asset-light, prop-tech hospitality platform pioneering a global standardized 'condotel' business model. Hotel101 aims to disrupt the global hotel and hospitality sector through its unique tech-enabled business model that positions it to generate revenues twice: first from the advance sale of individual hotel units during the construction phase; and second, from long-term recurring revenue derived from day-to-day hotel operations. Hotel101 and its affiliates have nine Hotel101-branded properties in the Philippines in various stages of operations and development, as well as three projects under development overseas in Hokkaido (Japan), Madrid (Spain), and Los Angeles (United States). In May 2025, Hotel101 signed an agreement with Saudi Arabia's Horizon Group to, subject to additional contract, establish a joint venture for the development of up to 10 hotels in Saudi Arabia. Hotel101 aspires to operate 1 million rooms across 100 countries worldwide, with an initial 25 identified priority countries for the medium term. Hotel101 is a subsidiary of Philippine-listed DoubleDragon Corporation (PSE: DD). For more information, visit About DoubleDragon Corporation DoubleDragon Corporation currently has total assets of approximately US$4 billion, with a portfolio that spans over one million square meters of gross floor area principally from provincial community malls, a string of office buildings, a chain of industrial warehouse complexes and its chain of hotels. DoubleDragon Corporation has been listed on the Philippine Stock Exchange since 2014 and is controlled by two entities that own a combined 70% majority stake: Injap Investments Inc., which is a private family holding company led by Filipino Entrepreneur Edgar 'Injap' Sia II, who is also the Chairman of MerryMart Consumer Corp, and Founder of Mang Inasal, one of the largest QSR fast food chains in the Philippines which is now under Jollibee Foods Corp.; and Honeystar Holdings Corp., which is a private family holding company led by Filipino Entrepreneur Tony Tan Caktiong, who is also the Chairman and Founder of the global QSR fast food chain Jollibee Foods Corp. Jollibee is the largest fast food QSR company in the Philippines and one of the largest globally through its portfolio of food brands with over 9,900 branches worldwide. Jollibee Foods Corp. currently has a market capitalization of over US$4.3 billion. About JVSPAC Acquisition Corporation JVSPAC Acquisition Corporation is a blank check company incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. Forward Looking Statements This press release includes 'forward-looking statements' which may be identified by the use of words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'will,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target' or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the estimated equity value of the combined company, Hotel101's ability to scale and grow its business, the advantages and expected growth of the combined company, the combined company's ability to source and retain talent, the cash position of the combined company following closing of the Transaction, JVSPAC's and Hotel101's ability to consummate the Transaction, and expectations related to the terms and timing of the Transaction, as applicable. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of JVSPAC's and Hotel101's management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve, and must not be relied on by any investor, as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of JVSPAC and Hotel101. These forward-looking statements are subject to a number of risks and uncertainties, including the ability of JVSPAC and Hotel101 to successfully or timely consummate the proposed Transaction, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the proposed Transaction; failure to realize the anticipated benefits of the proposed Transaction; the combined company's ability to execute on its business model, potential business expansion opportunities in foreign countries and growth strategies, retain and expand customers' use of its hotel services and attract new customers, and source and maintain talent; risks relating to the combined company's sources of cash and cash resources; risks relating to Hotel101's business; risks relating to the combined company's vulnerability to security breaches; risks relating to the combined company's ability to manage future growth; the effects of competition on the combined company's future business; the amount of redemption requests made by JVSPAC's public shareholders; the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries involving the parties to the Transaction; the impact of the COVID-19 pandemic on Hotel101's or the combined company's business and the global economy; and those factors discussed in JVSPAC's final prospectus related to its initial public offering dated January 18, 2024, under the heading 'Risk Factors,' in JVSPAC's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 under the heading 'Risk Factors' filed with the SEC on March 11, 2025 and other documents filed, or to be filed, by JVSPAC with the SEC. If any of these risks materializes or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither JVSPAC nor Hotel101 presently knows or that JVSPAC and Hotel101 currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect JVSPAC's and Hotel101's expectations, plans or forecasts of future events and views as of the date of this press release. JVSPAC and Hotel101 anticipate that subsequent events and developments will cause JVSPAC's and Hotel101's assessments to change. However, while JVSPAC and Hotel101 may elect to update these forward-looking statements at some point in the future, JVSPAC and Hotel101 specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing JVSPAC's and Hotel101's assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. No Offer or Solicitation This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any 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. The HBNB shares have not been offered, listed or registered in the Philippines with the Philippine Securities and Exchange Commission. Any future offer or sale thereof in the Philippines will be subject to registration requirements under the Philippine Securities Regulation Code unless such offer or sale in the Philippines qualifies as an exempt transaction. Contacts Brunswick Group - [email protected] View original content: SOURCE Hotel101
Associated Press
43 minutes ago
- Associated Press
SINOVAC Board of Directors Prevails Against Advantech/Prime's Lawsuit in Hong Kong
BEIJING--(BUSINESS WIRE)--Jun 27, 2025-- The Board of Directors of SINOVAC Biotech Ltd. (NASDAQ: SVA) (' SINOVAC ' or the ' Company '), a leading provider of biopharmaceutical products in China, today announced it has prevailed against the latest lawsuit filed by Advantech/Prime Success ('Advantech/Prime') in Hong Kong. This result follows Advantech/Prime's recently failed petition in New York last week, which was a repeated attempt by the purported PIPE Investors to block or delay a hearing for interim relief sought by the Company et al at the Antiguan High Court and to interfere with the payment of the US$55.00 per common share special cash dividend to valid shareholders of the Company as declared by the current SINOVAC Board. On June 24, Advantech/Prime delivered via email an ex parte Summons to SINOVAC, 1Globe Capital LLC ('1Globe') and OrbiMed Partners Master Fund Limited ('OrbiMed') for an 'interim-interim' injunction application (the 'Application'). Vivo Capital also sought to join the Application on June 26. After the emergent hearing at the High Court of Hong Kong on June 27, the court refused to grant any of the relief sought in the Summons. Among other things, the judge also criticized Advantech/Prime for: The court also ordered that legal costs incurred in the Application by SINOVAC, 1Globe and OrbiMed be compensated by Advantech/Prime, with quantum to be assessed. Advantech/Prime's continued multi-jurisdictional lawfare is intended to interfere with rightful dividend payments to SINOVAC's valid shareholders and distract from its long history of self-serving schemes. These schemes include: The current SINOVAC Board remains committed to its mission of restoring fairness, delivering value, and protecting the rights of all valid shareholders. Your Vote is Important Your vote on or before July 8 will be about the future of SINOVAC, your receipt of your make-whole dividend payments in the near-term, and the long-term value of your investment. We urge you to keep SINOVAC's Board in place and vote on the WHITE proxy card ' AGAINST ' Proposal 1 to remove the current Board and ' AGAINST ' Proposal 2 to appoint the Reconstituted Imposter Former Board Slate. Your vote is critical to ensuring that SINOVAC remains on the path to stability, growth, and value creation for all shareholders. DISCARD any items you received asking you to vote for the Reconstituted Imposter Former Board Slate. If you have already voted for the Reconstituted Imposter Former Board Slate, you can subsequently revoke it by using the WHITE proxy card or WHITE voting instruction form to vote. Only your latest-dated vote will count! If you have questions about how your vote can be counted, please contact our proxy solicitor, Georgeson LLC, toll free at (844) 568-1506 in the U.S. and (646) 543-1968 outside the U.S. or via email at [email protected]. About SINOVAC Sinovac Biotech Ltd. (SINOVAC) is a China-based biopharmaceutical company that focuses on the R&D, manufacturing, and commercialization of vaccines that protect against human infectious diseases. SINOVAC's product portfolio includes vaccines against COVID-19, enterovirus 71 (EV71) infected Hand-Foot-Mouth disease (HFMD), hepatitis A, varicella, influenza, poliomyelitis, pneumococcal disease, etc. The COVID-19 vaccine, CoronaVac®, has been approved for use in more than 60 countries and regions worldwide. The hepatitis A vaccine, Healive®, passed WHO prequalification requirements in 2017. The EV71 vaccine, Inlive®, is an innovative vaccine under 'Category 1 Preventative Biological Products' and commercialized in China in 2016. In 2022, SINOVAC's Sabin-strain inactivated polio vaccine (sIPV) and varicella vaccine were prequalified by the WHO. SINOVAC was the first company to be granted approval for its H1N1 influenza vaccine Panflu.1®, which has supplied the Chinese government's vaccination campaign and stockpiling program. The Company is also the only supplier of the H5N1 pandemic influenza vaccine, Panflu®, to the Chinese government stockpiling program. SINOVAC continually dedicates itself to new vaccine R&D, with more combination vaccine products in its pipeline, and constantly explores global market opportunities. SINOVAC plans to conduct more extensive and in-depth trade and cooperation with additional countries, and business and industry organizations. Important Additional Information and Where to Find It In connection with SINOVAC's Special Meeting, SINOVAC has filed with the U.S. Securities and Exchange Commission ('SEC') and mailed to shareholders of record entitled to vote at the Special Meeting a definitive proxy statement and other documents, including a WHITE proxy card. SHAREHOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS WHEN FILED WITH THE SEC AND WHEN THEY BECOME AVAILABLE BECAUSE THOSE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and other interested parties will be able to obtain the documents free of charge at the SEC's website, or from SINOVAC at its website: You may also obtain copies of SINOVAC's definitive proxy statement and other documents, free of charge, by contacting SINOVAC's Investor Relations Department at [email protected]. Safe Harbor Statement This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as 'may,' 'will,' 'expect,' 'anticipate,' 'aim,' 'estimate,' 'intend,' 'plan,' 'believe,' 'potential,' 'continue,' 'is/are likely to' or other similar expressions. Such statements are based upon current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's or Board's control, which may cause actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company and Board do not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law. View source version on CONTACT: Investor and Media Contact FGS Global [email protected] KEYWORD: ASIA PACIFIC HONG KONG INDUSTRY KEYWORD: BIOTECHNOLOGY PHARMACEUTICAL HEALTH SOURCE: The Board of Directors of Sinovac Biotech Ltd. Copyright Business Wire 2025. PUB: 06/27/2025 07:12 PM/DISC: 06/27/2025 07:12 PM
