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China says Hegseth is touting a Cold War mentality in calling the country a threat

China says Hegseth is touting a Cold War mentality in calling the country a threat

Yahoo3 days ago

BEIJING (AP) — China on Sunday denounced U.S. Defense Secretary Pete Hegseth for calling the Asian country a threat, accusing him of touting a Cold War mentality as tensions between Washington and Beijing further escalate.
The foreign ministry said Hegseth vilified Beijing with defamatory allegations the previous day at the Shangri-La Dialogue, a global security conference. The statement also accused the United States of inciting conflict and confrontation in the region.
'Hegseth deliberately ignored the call for peace and development by countries in the region, and instead touted the Cold War mentality for bloc confrontation,' it said, referring to the post-World War II rivalry between the U.S. and the former Soviet Union.
'No country in the world deserves to be called a hegemonic power other than the U.S. itself,' it said, alleging that Washington is also undermining peace and stability in the Asia-Pacific.
Hegseth said in Singapore on Saturday that Washington will bolster its defenses overseas to counter what the Pentagon sees as rapidly developing threats by Beijing, particularly in its aggressive stance toward Taiwan.
China's army 'is rehearsing for the real deal,' Hegseth said. 'We are not going to sugarcoat it — the threat China poses is real. And it could be imminent.'
A 'provocation' by Hegseth
The Chinese statement said the matter of Taiwan is China's internal affair and that the U.S. should 'never play with fire' with it. The statement also alleged Washington had deployed offensive weaponry in the South China Sea, was 'stoking flames and creating tensions in the Asia-Pacific' and "turning the region into a powder keg.'
Spokesperson Zhang Xiaogang of China's defense ministry called Hegseth's comments a provocation and said they distorted China's policy positions.
The U.S. and China had reached a deal last month to cut U.S. President Donald Trump's tariffs from 145% to 30% for 90 days, creating time for negotiators from both sides to reach a more substantive agreement. China also reduced its taxes on U.S. goods from 125% to 10%.
But it's uncertain if a trade war truce will last. Trump in a social media post on Friday said he would no longer be 'nice' with China when it comes to trade and accused Beijing of breaking an unspecified agreement with the U.S.
Tensions escalated anew after the U.S. said on Wednesday it would start revoking visas for Chinese students studying there.
The matter of the Philippines
At the Singapore forum on Sunday, Philippines Defense Secretary Gilberto Teodoro scoffed at the idea that the U.S. was the problem.
The Philippines has been involved in increasingly violent clashes with China over competing claims in the South China Sea. Teodoro said what the Chinese government saw as fair might be contrary to the norms accepted by the rest of the world.
The Chinese Embassy in Singapore in separate Facebook posts described Teodoro's remarks as 'groundless accusations' and argued that the South China Sea Islands are China's inherent territories.
The 'troublemaker' is not China, it said, and cited what it said were recent illegal intrusions by the Philippines into the waters adjacent to two reefs.
'Some outside power' was posing the biggest threat to peace with the deployment of offensive weapons and roping in allies for frequent military drills, it said, without naming anyone.
'Which country is coercing and bullying others, and instigating conflicts and confrontation in the South China Sea? The answer is clear to all,' it said.
And then there was Macron
Separately, the Chinese Embassy in Singapore on Saturday criticized attempts to link the issue of Taiwan with that of the war in Ukraine after French President Emmanuel Macron warned of a dangerous double standard in focusing on a potential conflict with China at the cost of abandoning Ukraine.
The embassy did not name Macron in its post on Facebook, but the post included a photo showing the French president at the Singapore forum.
'If one tries to denounce 'double standards' through the lens of a double standard, the only result we can get is still double standard,' it said.
China, which usually sends its defense minister to the Shangri-La forum, this time sent a lower-level delegation led by Maj. Gen. Hu Gangfeng, the vice president of the People's Liberation Army National Defense University.

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BEIJING, June 5, 2025 /PRNewswire/ -- Hello Group Inc. (NASDAQ: MOMO) ("Hello Group" or the "Company"), a leading player in Asia's online social and entertainment space, today announced its unaudited financial results for the first quarter of 2025. First Quarter of 2025 Highlights Net revenues decreased by 1.5% year over year to RMB2,520.8 million (US$347.4 million*) in the first quarter of 2025. Net revenues from overseas increased by 71.9% year over year to RMB414.6 million (US$57.1 million) in the first quarter of 2025. Net income attributable to Hello Group Inc. increased to RMB358.0 million (US$49.3 million) in the first quarter of 2025, from RMB5.2 million in the same period of 2024. Non-GAAP net income attributable to Hello Group Inc. (note 1) increased to RMB403.8 million (US$55.6 million) in the first quarter of 2025, from RMB59.9 million in the same period of 2024. 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Unless otherwise noted, all translations from Renminbi to U.S. dollars, in this press release, were made at a rate of RMB7.2567 to US$1.00, the effective noon buying rate for March 31, 2025 as set forth in the H.10 statistical release of the Federal Reserve Board. "Q1 marked a strong start to 2025," commented Yan Tang, Chairman and CEO of Hello Group. "Our mainland PRC businesses continue to deliver solid profits, thanks to our ongoing efforts in cost reduction and efficiency improvement, as well as gradual stabilization of external factors. Meanwhile, our overseas business growth has accelerated, driven by further localization of existing products and the initial monetization of new apps. We expect the overseas products to make an increasingly meaningful contribution to the Group's financials in the coming quarters." First Quarter of 2025 Financial Results Net revenues Total net revenues were RMB2,520.8 million (US$347.4 million) in the first quarter of 2025, a decrease of 1.5% from RMB2,560.4 million in the first quarter of 2024. Starting from the first quarter of 2025, the Company combined the live video service and value-added services lines, which are now collectively referred to as value-added services. This change reflects the increasing convergence of the two business lines in terms of user mentality and product format. The combined reporting more accurately reflects user behavior and spending across the Company's social entertainment ecosystem. Additionally, the Company consolidated mobile marketing services, mobile games and other services, which are now collectively reported under "other services." Value-added service revenues mainly include virtual gift revenues from various audio, video and text- based scenarios, and membership subscription revenues. Total value-added service revenues were RMB2,489.9 million (US$343.1 million) in the first quarter of 2025, a decrease of 1.7% from RMB2,532.9 million during the same period of 2024. The decrease was primarily due to a soft consumer sentiment among top users in the current macro environment of Momo app, and to a lesser extent, the decline in Tantan's paying users which was in turn due to the decline in user base. The decrease was partially offset by the rapid revenue growth from our overseas apps, driven by the strong performance of the relatively established brand--Soulchill and the monetization of a collection of new apps. Other services revenues were RMB30.9 million (US$4.3 million) in the first quarter of 2025, compared to RMB27.5 million during the same period of 2024. Net revenues from Chinese mainland decreased from RMB2,319.2 million in the first quarter of 2024 to RMB2,106.2 million (US$290.2 million) in the first quarter of 2025, primarily due to the decrease in net revenues from Momo app and Tantan app. Net revenues from overseas increased from RMB241.2 million in the first quarter of 2024 to RMB414.6 million (US$57.1 million) in the first quarter of 2025, driven by the growth of Souchill and incremental revenue from emerging brands. Cost and expenses Cost and expenses were RMB2,234.5 million (US$307.9 million) in the first quarter of 2025, an increase of 5.4% from RMB2,120.0 million in the first quarter of 2024. The increase was primarily attributable to: (a) an increase in revenue sharing with virtual gift recipients for overseas apps, which was partially offset by a decrease in revenue sharing with broadcasters on Momo apps; and (b) an increase in sales and marketing expenses related to the promotion of overseas apps, partially offset by a decrease in Tantan's marketing and promotional expense due to our continuous initiatives to control cost and optimize Tantan's channel marketing strategy. Non-GAAP cost and expenses (note 1) were RMB2,188.8 million (US$301.6 million) in the first quarter of 2025, compared to RMB2,065.3 million during the same period of 2024. Income from operations Income from operations was RMB299.5 million (US$41.3 million) in the first quarter of 2025, compared to RMB460.3 million during the same period of 2024. Non-GAAP income from operations (note 1) was RMB345.3 million (US$47.6 million) in the first quarter of 2025, compared to RMB515.0 million during the same period of 2024. Income tax expenses Income tax expenses were RMB70.4 million (US$9.7 million) in the first quarter of 2025, compared to RMB557.6 million in the first quarter of 2024. The decrease in income tax expenses was primarily due to the accrual in the first quarter of 2024 of withholding income tax of RMB448.6 million associated with historical undistributed earnings generated by our wholly-foreign owned enterprise. Net income Net income was RMB358.5 million (US$49.4 million) in the first quarter of 2025, compared to RMB5.2 million during the same period of 2024. Non-GAAP net income (note 1) was RMB404.3 million (US$55.7 million) in the first quarter of 2025, compared to RMB59.9 million during the same period of 2024. Net income attributable to Hello Group Inc. Net income attributable to Hello Group Inc. was RMB358.0 million (US$49.3 million) in the first quarter of 2025, compared to RMB5.2 million during the same period of 2024. Non-GAAP net income (note 1) attributable to Hello Group Inc. was RMB403.8 million (US$55.6 million) in the first quarter of 2025, compared to RMB59.9 million during the same period of 2024. Net income per ADS Diluted net income per ADS was RMB2.07 (US$0.29) in the first quarter of 2025, compared to RMB0.03 in the first quarter of 2024. Non-GAAP diluted net income per ADS (note 1) was RMB2.34 (US$0.32) in the first quarter of 2025, compared to RMB0.31 in the first quarter of 2024. Cash and cash flow As of March 31, 2025, the Company's cash, cash equivalents, short-term deposits, long-term deposits, short-term restricted cash and long-term restricted cash totaled RMB12,785.9 million (US$1,761.9 million), compared to RMB14,728.5 million as of December 31, 2024. Net cash provided by operating activities in the first quarter of 2025 was RMB239.7 million (US$33.0 million), compared to RMB400.2 million in the first quarter of 2024. Change in Segment Reporting Effective from the first quarter of 2025, the Company implemented the strategic decision to integrate the operations of Momo, Tantan, and QOOL into a unified business structure, and as a result, changed its segment disclosure from three operating segments to a single operating segment. This change reflects the Company's strategic focus and aligns with the financial information that the Company's chief operating decision maker currently receives and uses to allocate resources and assess performance of the Company. Prior period segment information has been retrospectively revised to conform to the current presentation. Recent Development Payment of a special cash dividend In March 2025, Hello Group's board of directors declared a special cash dividend in the amount of US$0.30 per ADS, or US$0.15 per ordinary share. The cash dividend was paid in April 2025 to shareholders of record at the close of business on April 11, 2025. The aggregate amount of cash dividends paid was US$47.9 million. Share repurchase program As of June, 5, 2025, the Company has repurchased 47.8 million ADSs for US$291.3 million on the open market under Share Repurchase Program announced on June 7, 2022 and amended on March 14, 2024 and March 12, 2025, at an average purchase price of US$6.07 per ADS. The remaining size of the program is USD $194.8 million. Business Outlook For the second quarter of 2025, the Company expects total net revenues to be between RMB2.57 billion to RMB2.67 billion, representing a decrease of 4.5% to 0.8% year over year. This forecast reflects the Company's current and preliminary views on the market and operational conditions, which are subject to change. Note 1: Non-GAAP measures To supplement our consolidated financial statements presented in accordance with U.S. generally accepted accounting principles ("GAAP"), we, Hello Group, use various non-GAAP financial measures that are adjusted from the most comparable GAAP results to exclude share-based compensation and amortization of intangible assets from business acquisitions, and such adjustments has no impact on income tax. Reconciliations of our non-GAAP financial measures to our U.S. GAAP financial measures are shown in tables at the end of this earnings release, which provide more details about the non-GAAP financial measures. Our non-GAAP financial information is provided as additional information to help investors compare business trends among different reporting periods on a consistent basis and to enhance investors' overall understanding of the historical and current financial performance of our continuing operations and our prospects for the future. Our non-GAAP financial information should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for or superior to the GAAP results. In addition, our calculation of the non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited. Our non-GAAP information (including non-GAAP cost and operating expenses, income from operations, net income, net income attributable to Hello Group Inc., and diluted net income per ADS) is adjusted from the most comparable GAAP results to exclude share-based compensation and amortization of intangible assets from business acquisitions, and such adjustments has no impact on income tax. A limitation of using these non-GAAP financial measures is that share-based compensation and amortization of intangible assets from business acquisitions have been and will continue to be for the foreseeable future significant recurring expenses in our results of operations. We compensate for such limitation by providing reconciliations of our non-GAAP measures to our U.S. GAAP measures. Please see the reconciliation tables at the end of this earnings release. Conference Call Hello Group's management will host an earnings conference call on Thursday, June 5, 2025, at 8:00 a.m. U.S. Eastern Time (8:00 p.m. Beijing / Hong Kong Time on June 5, 2025). Participants can register for the conference call by navigating to: Upon registration, each participant will receive details for the conference call, including dial-in numbers, conference call passcode and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin. A telephone replay of the call will be available after the conclusion of the conference call through June 12, 2025. The dial-in details for the replay are as follows: U.S. / Canada: 1-855-883-1031 Hong Kong: 800-930-639Passcode: 10047425 Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of Hello Group's website at About Hello Group Inc. We are a leading player in Asia's online social networking space. Through Momo, Tantan and other properties within our product portfolio, we enable users to discover new relationships, expand their social connections and build meaningful interactions. Momo is a mobile application that connects people and facilitates social interactions based on location, interests and a variety of online recreational activities. Tantan, which was added into our family of applications through acquisition in May 2018, is a leading social and dating application. Tantan is designed to help its users find and establish romantic connections as well as meet interesting people. Starting from 2019, we have incubated a number of other new apps, such as Hertz, Soulchill, and Duidui, which target more niche markets and more selective demographics. For investor and media inquiries, please contact: Hello Group Inc. Investor RelationsPhone: +86-10-5731-0538Email: ir@ Christensen In ChinaMs. Xiaoyan SuPhone: +86-10-5900-1548E-mail: In U.S. Ms. Linda BergkampPhone: +1-480-614-3004Email: Safe Harbor Statement This news 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, and as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include but are not limited to our management quotes, our financial outlook for the second quarter of 2025, as well as the amount of, timing, methods and funding sources for repurchases of our shares under the share repurchase program. Our forward-looking statements are not historical facts but instead represent only our belief regarding expected results and events, many of which, by their nature, are inherently uncertain and outside of our control. Our actual results and other circumstances may differ, possibly materially, from the anticipated results and events indicated in these forward-looking statements. Announced results for the first quarter of 2025 are preliminary, unaudited and subject to audit adjustment. In addition, we may not meet our financial outlook for the second quarter of 2025 and may be unable to grow our business in the manner planned. We may also modify our strategy for growth. Moreover, there are other risks and uncertainties that could cause our actual results to differ from what we currently anticipate, including those relating to our ability to retain and grow our user base, our ability to attract and retain sufficiently trained professionals to support our operations, our ability to anticipate and develop new services and enhance existing services to meet the demand of our users or customers, the market price of the Company's stock prevailing from time to time, the nature of other investment opportunities presented to the Company from time to time, the Company's cash flows from operations, general economic conditions, and other factors. For additional information on these and other important factors that could adversely affect our business, financial condition, results of operations, and prospects, please see our filings with the U.S. Securities and Exchange Commission. All information provided in this press release and in the attachments is as of the date of the press release. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, after the date of this release, except as required by law. Such information speaks only as of the date of this release. Hello Group Inc. Unaudited Condensed Consolidated Statement of Operations (All amounts in thousands, except share and per share data)Three months Ended March 31202420252025RMBRMBUS$ Net revenues(i):Value-added service 2,532,9172,489,902343,118 Other services 27,50330,9334,262 Total net revenues 2,560,4202,520,835347,380 Cost and expenses:Cost of revenues (1,503,008)(1,569,074)(216,224) Research and development (192,191)(195,769)(26,978) Sales and marketing (293,431)(329,178)(45,362) General and administrative (131,381)(140,511)(19,363) Total cost and expenses (2,120,011)(2,234,532)(307,927) Other operating income, net 19,90613,1821,817 Income from operations 460,315299,48541,270 Interest income 121,107120,33816,583 Interest expense (23,698)(30,659)(4,225) Other gain or loss, net (9,245)-- Income before income tax and share of income on equity methodinvestments 548,479389,16453,628 Income tax expenses (557,613)(70,406)(9,702) (Loss) income before share of income on equity methodinvestments (9,134)318,75843,926 Share of income on equity method investments 14,31839,7315,475 Net income 5,184358,48949,401 Less: net income attributable to non-controlling interest -49568 Net income attributable to the shareholders of Hello Group Inc. 5,184357,99449,333 Net income per share attributable to ordinary shareholdersBasic 0.011.050.15 Diluted 0.011.040.14 Weighted average shares used in calculating net income per ordinaryshareBasic 374,650,649339,405,347339,405,347 Diluted 389,278,806345,905,274345,905,274 (i) The following table presents revenues by geographic area based on the addresses of our customers of our users: Three months Ended March 31 202420252025RMBRMBUS$ Chinese mainland 2,319,2232,106,233290,247 Overseas 241,197414,60257,133 Total 2,560,4202,520,835347,380 Hello Group Inc. Unaudited Condensed Consolidated Statement of Comprehensive Income (All amounts in thousands, except share and per share data) Three monthsEnded March 31 202420252025 RMBRMBUS$Net income 5,184358,48949,401Other comprehensive income (loss), net of tax: Foreign currency translation adjustment 54,894(43,338)(5,972)Comprehensive income 60,078315,15143,429Less: comprehensive income (loss) attributed to the non-controllinginterest 3,084(599)(83)Comprehensive income attributable to Hello Group Inc. 56,994315,75043,512 Hello Group Inc. Unaudited Condensed Consolidated Balance Sheets (All amounts in thousands, except share and per share data)December 31March 31March 31202420252025 RMB RMBUS$ AssetsCurrent assetsCash and cash equivalents 4,122,6595,381,833741,636 Short-term deposits 2,026,245762,835105,121 Restricted cash 4,566,4772,637,531363,461 Accounts receivable, net of allowance for credit losses of RMB12,433 andRMB17,427 as of December 31, 2024 and March 31, 2025, respectively 192,317222,21330,622 Prepaid expenses and other current assets 1,104,1721,099,969151,580 Total current assets 12,011,87010,104,3811,392,420 Long-term deposits 3,059,8603,051,340420,486 Long-term restricted cash 953,285952,391131,243 Right-of-use assets, net 252,169216,05429,773 Property and equipment, net 897,036916,423126,286 Intangible assets, net 86,661191,92726,448 Rental deposits 13,28013,3871,845 Long-term investments 825,533863,342118,972 Other non-current assets 110,960133,42018,386 Deferred tax assets 36,06635,7264,923 Goodwill 136,250249,41234,370 Total assets 18,382,97016,727,8032,305,152 Liabilities and equityCurrent liabilitiesAccounts payable 615,254619,82485,414 Deferred revenue 427,702437,35160,269 Accrued expenses and other current liabilities 704,410652,23489,880 Lease liabilities due within one year 141,971127,76517,606 Income tax payable 157,05756,5657,795 Deferred consideration in connection with business acquisitions-current 28,02727,8633,840 Convertible Senior Notes-current 20,19120,0902,768 Dividends payable -347,40347,873 Long-term borrowings, current portion 1,938,3851,939,245267,235 Short-term borrowings 2,365,535675,00093,017 Total current liabilities 6,398,5324,903,340675,697 Deferred consideration in connection with business acquisitions-non current 65,69465,3109,000 Lease liabilities 115,10592,33812,725 Deferred tax liabilities 241,915254,53035,075 Long-term borrowings -3,227445 Other non-current liabilities 129,051143,55219,782 Total liabilities 6,950,2975,462,297752,724 Shareholder's equity (ii) 11,432,67311,265,5061,552,428 Total liabilities and shareholder's equity 18,382,97016,727,8032,305,152 (ii): As of March 31, 2025, the number of ordinary shares outstanding was 321,338,936. Hello Group Inc. Unaudited Condensed Consolidated Statement of Cash Flows (All amounts in thousands, except share and per share data)Three monthsEnded March 31202420252025RMBRMBUS$ Cash flows from operating activities:Net income 5,184358,48949,401 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation of property and equipment 14,31012,3911,708 Amortization of intangible assets 1,2796,191853 Share-based compensation 54,67040,8605,631 Share of income on equity method investments (14,318)(39,731)(5,475) Returns on investments -50870 Loss on long-term investments 9,245-- Gain or loss on disposal of property and equipment 258(102)(14) Provision of loss on receivable and other assets 1,7765,405745 Changes in operating assets and liabilities:Accounts receivable 10,980(19,144)(2,638) Prepaid expenses and other current assets (9,677)11,3751,568 Rental deposits (802)(110)(15) Deferred tax assets (2,498)34047 Other non-current assets (7,597)35,0464,829 Accounts payable (17,454)(13,543)(1,866) Income tax payable 6,036(100,979)(13,915) Deferred revenue 16,6749,0351,245 Accrued expenses and other current liabilities (56,800)(70,983)(9,782) Deferred tax liabilities 365,01112,7131,752 Other non-current liabilities 23,893(8,040)(1,108) Net cash provided by operating activities 400,170239,72133,036 Cash flows from investing activities:Purchase of property and equipment (44,176)(27,814)(3,833) Payment for business acquisition -(194,390)(26,788) Cash received on maturity of short-term deposits 300,0001,107,245152,582 Purchase of long-term deposits (718,860)-- Cash received on maturity of long-term deposits 718,860150,00020,671 Cash received from sales of long-term investment 2,000-- Loan to a third-party company -(27,478)(3,787) Other investing activities 38519226 Net cash provided by investing activities 258,2091,007,755138,871 Cash flows from financing activities:Proceeds from exercise of share options 112- Repurchase of ordinary shares (112,261)(201,529)(27,771) Proceeds from short-term borrowings 1,331,635-- Repayment of short-term borrowings (215)(1,690,535)(232,962) Repayment of long-term borrowings -(395)(54) Net cash provided (used in) by financing activities 1,219,170(1,892,457)(260,787) Effect of exchange rate changes 20,814(25,685)(3,541) Net increase (decrease) in cash and cash equivalents 1,898,363(670,666)(92,421) Cash, cash equivalents and restricted cash at the beginning of period 8,282,9129,642,4211,328,761 Cash, cash equivalents and restricted cash at the end of period 10,181,2758,971,7551,236,340 Hello Group Inc. Reconciliation of Non-GAAP financial measures to comparable GAAP measures (All amounts in thousands, except per share data)1. Reconciliation of Non-GAAP cost and operating expenses, income from operations, and net income to comparable GAAP monthsThree monthsThree months Ended March 31, 2024Ended March 31, 2025Ended March 31, 2025GAAP Share-basedcompensation Non-GAAPGAAP Amortization ofintangible assetsfrom businessacquisitions Share-basedcompensation Non-GAAPGAAP Amortization ofintangible assetsfrom businessacquisitions Share-basedcompensation Non-GAAP RMB RMB RMB RMB RMB RMB RMB US$ US$ US$ US$ Cost of revenues (1,503,008) 1,882 (1,501,126)(1,569,074) 1,263 1,774 (1,566,037)(216,224) 174 244 (215,806) Research and development (192,191) 8,786 (183,405)(195,769) 859 9,060 (185,850)(26,978) 118 1,249 (25,611) Sales and marketing (293,431) 6,117 (287,314)(329,178) 2,790 4,311 (322,077)(45,362) 384 594 (44,384) General and administrative (131,381) 37,885 (93,496)(140,511) - 25,715 (114,796)(19,363) - 3,544 (15,819) Cost and operating expenses (2,120,011) 54,670 (2,065,341)(2,234,532) 4,912 40,860 (2,188,760)(307,927) 676 5,631 (301,620) Income from operations 460,315 54,670 514,985299,485 4,912 40,860 345,25741,270 676 5,631 47,577 Net income attributable to Hello Group Inc. 5,184 54,670 59,854357,994 4,912 40,860 403,76649,333 676 5,631 55,640 View original content: SOURCE Hello Group Inc. 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