PRC

• Adjusted net profit was approximately HK$458.7 million for the period, representing a year-on-year decrease of 20.3%, with adjusted net profit margin decreasing by 1.1 percentage points to 5.8% (Fiscal 2022: HK$575.6 million and 6.9%, respectively).
• During the year under review, the Group's financial position was sound, with net current assets increasing to approximately HK$1,585.6 million (Fiscal 2022: HK$1,519.4 million).
• As at 31 March 2023, its total undrawn banking facilities amounted to approximately HK$3,783.6 million (31 March 2022: approximately HK$2,371.0 million).
• The segment's gross profit was approximately HK$566.5 million and gross profit margin was 23.3% (Fiscal 2022: HK$513.9 million and 23.5%, respectively).

• As a result of the Merger, the Company will become a wholly owned subsidiary of Parent.
• The Special Committee negotiated the terms of the Merger Agreement with the assistance of its independent financial advisor and legal advisors.
• Morgan Stanley Asia Limited is serving as the financial advisor to the Bain Shareholders and their affiliates (the "Bain Parties").
• In connection with the Merger, the Company will prepare and mail to its shareholders a proxy statement that will include a copy of the Merger Agreement.

• CHARLOTTE, N.C., Aug. 03, 2023 (GLOBE NEWSWIRE) --  Cheetah Net Supply Chain Service Inc. (“Cheetah Net” or the “Company”) (NASDAQ: CTNT), a supplier of parallel-import vehicles sourced in the U.S. to be sold in the PRC market, today announced the closing of its previously announced initial public offering of 1,250,000 shares of Class A common stock.
• Each share of Class A common stock was sold at an offering price of $4.00, for gross proceeds of $5.0 million, before deducting underwriting discounts and offering expenses.
• In addition, Cheetah Net has granted the underwriters a 45-day option to purchase up to an additional 187,500 shares of Class A common stock to cover over-allotments at the initial public offering price, less the underwriting discount.
• The offering was made only by means of a prospectus forming part of the effective registration statement.

• Few nation-states have been shaped by their underlying physical geography and location in the world quite as much as Australia.
• The traditional way Australia’s leaders have dealt with the pervasive sense of vulnerability that geographic isolation engendered was to ingratiate themselves with “great and powerful friends”.
• The contentious decisions to acquire nuclear-powered submarines and manufacture US missiles
  have only entrenched Australia in America’s anti-China alliance.
• Read more:
  The AUKUS pact, born in secrecy, will have huge implications for Australia and the region

Regionalism with American characteristics

• China has not been an aggressive power hitherto, and it is far from certain it is going to be in the future.
• The US, by contrast, has been at war with someone somewhere for more than 90% of its history as an independent nation.
• When Asia’s peace has been upended, it has been because of American intervention.
• At times, Jackson argues, America acts as an “aloof hegemon”, whose actions are “incidental to the course of events”.
• As the so-called “Asian miracle” demonstrated, regional stability also paved the way for widespread, state-led economic development, which eventually included China.

(Not) coming to terms with China

• The rather optimistic subtitle of Engaging China is “How Australia can lead the way again”.
• Sceptics may be forgiven for asking: when was the first time Australia played a leadership role in regional affairs?
• While the benefits of globalisation and trade interdependence may have been overstated at times, there is no doubt Australia has benefited from its economic relationship with China.
• Consequently, James Laurenceson and Weihuan Zhou argue that “deploying public policy to reduce trade exposure to China struggles as a coherent strategy”.

Cold War journalism 2.0

• Part of that explanation is what Wanning Sun calls “Cold War journalism 2.0”.
• There has, indeed, been no shortage of irresponsible, evidence-free “red alerts” suggesting that a “direct attack on our mainland” could happen within three years.
• And yet there is an even more alarming explanation for the complete absence of real debate amongst Australia’s policymaking elites.
• totally sidelined in Canberra, losing out to the weight of advice and opinion from the intelligence and security agencies.

Changing course and re-engaging?

• And yet, in theory if not practice, the logic of “strategic outsourcing” cuts both ways.
• Significantly, even some Canberra insiders now recognise the dangers of being strategically isolated as a consequence of our reflexive fealty to the US.
• After all, that is what the much invoked but seldom seen rules-based international order is supposed to be about, isn’t it?