PRC

• Global shipment of TCL smart screens in 1H2023 reached 11.46 million units with an increase of 12.9% year-over-year ("YoY").
• In 1H2023, shipment of 65-inch and above TCL smart screens increased by 67.8% YoY, accounting for 22.5% of total shipment during the period, an increase of 7.4 percentage points YoY.
• During the 618 shopping festival, TCL Mini LED smart screens, QLED smart screens, 75-inch and above TCL smart screens, and 98-inch large smart screens all ranked first in terms of both sales revenue and sales volume for their respective category[1].
• Shipment of 75-inch and above TCL smart screens accounted for 29.7% of total shipment in the PRC market, an increase of 12.4 percentage points YoY.

• These activities are part of the PRC's strategic initiative to modernize its military and become the global technology leader.
• "Our data demonstrates that European technology companies, especially semiconductor firms, have been, and will continue to be, in the crosshairs of a geopolitical battle for intellectual property and talent.
• PRC economic statecraft actors leverage government-backed talent programs, overseas alumni associations, and industry events to encourage overseas experts to relocate.
• Strider's global investment data shows that over the past 20 years more than 200 instances of PRC organizations, including several state-owned enterprises, investing in European semiconductor companies.

• Maxim Group, LLC is acting as the sole placement agent in connection with this offering.
• The closing of the offering is expected to occur on or about July 19, 2023, subject to satisfaction of closing conditions.
• The gross proceeds from the offering are expected to be approximately US$8.0 million.
• The prospectus supplement and accompanying prospectus contain important information relating to this offering.

• But the meeting also highlighted an evolving alliance that recently expanded to include Finland, with Sweden expected to join in the coming months.
• It is worthwhile considering this direction, succinctly outlined by the official communiqué issued at the summit’s conclusion, and what it will mean for New Zealand.

Ukraine told ‘not now’

• Read more:
  Nato: Vilnius summit will reflect fresh sense of purpose over Ukraine war – but hard questions remain over membership issues

  NATO’s decision not to give Ukraine a pathway to membership was also key.

• To invite Ukraine now would have created a direct route to global conflict.
• Despite this disappointment for Ukraine, NATO will increase the cooperation and assistance given to the country.

Threads of connection winding us tighter to NATO

• But New Zealand has become a “partner”, making up an Indo-Pacific cohort that includes Australia, Japan and the Republic of Korea – known as IP4.
• Read more:
  Why is NATO expanding its reach to the Asia-Pacific region?
• It’s important to note the IP4 shared security obligations stem from bilateral treaties and not any one collective agreement.

China continues to loom large

• Since late 2020, the IP4 cohort has been galvanised around the shift in the global balance of power and the rise of the People’s Republic of China (PRC).
• While remaining “open to constructive engagement with the PRC”, NATO’s latest communiqué warned China against giving support to Russia and took aim at China’s efforts to undermine global stability.

The 2% target

• The original goal was that each NATO country spend 2% of its gross domestic product (GDP) on the military.
• Military spending makes up just 1.5% of our GDP.

The nuclear umbrella

• Via the communiqué, NATO said it was “ready and able to deter aggression and manage escalation risks in a crisis that has a nuclear dimension”.
• NATO also announced intentions to strengthen “training and exercises that simulate conventional and […] a nuclear dimension of a crisis or conflict”.
• The alliance emphasised the importance of “the United States’ nuclear weapons forward-deployed in Europe” and reaffirmed “the imperative to ensure the broadest possible participation by allies concerned in NATO’s nuclear burden-sharing arrangements to demonstrate alliance unity and resolve”.