Photo: Unsplash It is an ambitious social experiment of our moment in history — one that experts say could accomplish something that parents, schools and other governments have attempted with varying degrees of success: keeping kids off social media until they turn 16 . Australia's new law, approved by its Parliament last week, is an attempt to swim against many tides of modern life — formidable forces like technology, marketing, globalization and, of course, the iron will of a teenager. And like efforts of the past to protect kids from things that parents believe they're not ready for, the nation's move is both ambitious and not exactly simple, particularly in a world where young people are often shaped, defined and judged by the online company they keep. The ban won't go into effect for another year. But how will Australia be able to enforce it? That's not clear, nor will it be easy. TikTok, Snapchat and Instagram have become so ingrained in young people's lives that going cold turkey will be difficult. Other questions loom. Does the ban limit kids' free expression and — especially for those in vulnerable groups — isolate them and curtail their opportunity to connect with members of their community? And how will social sites verify people's ages, anyway? Can't kids just get around such technicalities, as they so often do? This is, after all, the 21st century — an era when social media is the primary communications tool for most of those born in the past 25 years who, in a fragmented world, seek the common cultures of trends, music and memes. What happens when big swaths of that fall away? Is Australia's initiative a good, long-time-coming development that will protect the vulnerable, or could it become a well-meaning experiment with unintended consequences? Platforms will be held liable The law will make platforms including TikTok, Facebook, Snapchat, Reddit, X and Instagram liable for fines of up to 50 million Australian dollars ($33 million) for systemic failures to prevent children younger than 16 from holding accounts. “It’s clear that social media companies have to be held accountable, which is what Australia is trying to do,” said Jim Steyer, president and CEO of the nonprofit Common Sense Media. Leaders and parents in countries around the world are watching Australia’s policy closely as many seek to protect young kids from the internet's dangerous corners — and, not incidentally, from each other. Most nations have taken different routes, from parental consent requirements to minimum age limits. Many child safety experts, parents and even teens who have waited to get on social media consider Australia's move a positive step. They say there’s ample reason to ensure that children wait. “What’s most important for kids, just like adults, is real human connection. Less time alone on the screen means more time to connect, not less," said Julie Scelfo, the founder of Mothers Against Media Addiction, or MAMA, a grassroots group of parents aimed at combatting the harms of social media to children. “I’m confident we can support our kids in interacting in any number of ways aside from sharing the latest meme.” The harms to children from social media have been well documented in the two decades since Facebook’s launch ushered in a new era in how the world communicates. Kids who spend more time on social media, especially as tweens or young teenagers, are more likely to experience depression and anxiety, according to multiple studies — though it is not yet clear if there is a causal relationship. What's more, many are exposed to content that is not appropriate for their age, including pornography and violence, as well as social pressures about body image and makeup . They also face bullying, sexual harassment and unwanted advances from their peers as well as adult strangers. Because their brains are not fully developed, teenagers, especially younger ones the law is focused on, are also more affected by social comparisons than adults, so even happy posts from friends can send them into a negative spiral. What unintended harms could be caused? Many major initiatives, particularly those aimed at social engineering, can produce side effects — often unintended. Could that happen here? What, if anything, do kids stand to lose by separating kids and the networks in which they participate? Paul Taske, associate director of litigation at the tech lobbying group NetChoice, says he considers the ban “one of the most extreme violations of free speech on the world stage today" even as he expressed relief that the First Amendment prevents such law in the United States "These restrictions would create a massive cultural shift,” Taske said. “Not only is the Australian government preventing young people from engaging with issues they’re passionate about, but they’re also doing so even if their parents are ok with them using digital services," he said. "Parents know their children and their needs the best, and they should be making these decisions for their families — not big government. That kind of forcible control over families inevitably will have downstream cultural impacts.” David Inserra, a fellow for Free Expression and Technology, Cato Institute, called the bill “about as useful as an ashtray on a motorbike” in a recent blog post . While Australia's law doesn't require “hard verification” such as an uploaded ID, he said, it calls for effective “age assurance.” He said no verification system can ensure accuracy while also protecting privacy and not impacting adults in the process. Privacy advocates have also raised concerns about the law's effect on online anonymity, a cornerstone of online communications — and something that can protect teens on social platforms. “Whether it be religious minorities and dissidents, LGBTQ youth, those in abusive situations, whistleblowers, or countless other speakers in tricky situations, anonymous speech is a critical tool to safely challenge authority and express controversial opinions,” Inserra said. A spot check of kids at one mall in the Australian city of Brisbane on Wednesday didn't turn up a great deal of worry, though. “Social media is still important because you get to talk to people, but I think it’s still good that they’re like limiting it,” said Swan Son, a 13-year-old student at Brisbane State High School. She said she has had limited exposure to social media and wouldn’t really miss it for a couple of years. Her parents already enforce a daily one-hour limit. And as for her friends? “I see them at school every day, so I think I’ll be fine.” Conor Negric, 16, said he felt he’d dodged a bullet because of his age. Still, he considers the law reasonable. “I think 16 is fine. Some kids, I know some kids like 10 who’re on Instagram, Snapchat. I only got Instagram when I was 14." His mom, Sive Negric, who has two teenage sons, said she was happy for her boys to avoid exposure to social media too early: “That aspect of the internet, it’s a bit `meanland.'" Other countries are trying to figure it out, too Parents in Britain and across Europe earlier this year organized on platforms such as WhatsApp and Telegram to promise not to buy smartphones for children younger than 12 or 13. This approach costs almost no money and requires no government enforcement. In the United States, some parents are keeping kids off social media either informally or as part of an organized campaign such as Wait Until 8th, a group that helps parents delay kids' access to social media and phones. This fall, Norway announced plans to ban kids under 15 from using social media, while France is testing a smartphone ban for kids under 15 in a limited number of schools — a policy that could be rolled out nationwide if successful. U.S. lawmakers have held multiple congressional hearings — most recently in January — on child online safety. Still, the last federal law aimed at protecting children online was enacted in 1998, six years before Facebook’s founding. In July, the U.S. Senate overwhelmingly passed legislation designed to protect children from dangerous online content , pushing forward with what would be the first major effort by Congress in decades to hold tech companies more accountable. But the Kids Online Safety Act has since stalled in the House. While several states have passed laws requiring age verification, those are stuck in court. Utah became the first state to pass laws regulating children’s social media use in 2023. In September, a judge issued the preliminary injunction against the law, which would have required social media companies to verify the ages of users, apply privacy settings and limit some features. NetChoice has also obtained injunctions temporarily halting similar laws in several other states. And last May, U.S. Surgeon General Vivek Murthy said there is insufficient evidence to show social media is safe for kids. He urged policymakers to treat social media like car seats, baby formula, medication and other products children use. “Why should social media products be any different? Scelfo said. “Parents cannot possibly bear the entire responsibility of keeping children safe online, because the problems are baked into the design of the products.”
Nathan Ake calls on Man City to show character after latest setback
UTAH VALLEY 77, WEST GEORGIA 74Best Bets for NCAA Basketball Picks Against the Spread for Friday, November 22
Vandy QB Diego Pavia now waits as federal judge takes injunction request under advisement
SHENZHEN, China , Nov. 26, 2024 /PRNewswire/ -- X Financial XYF (the "Company" or "we"), a leading online personal finance company in China , today announced its unaudited financial results for the third quarter ended September 30, 2024 . Third Quarter 2024 Operational Highlights Three Months Ended September 30, 2023 Three Months Ended June 30, 2024 Three Months Ended September 30, 2024 QoQ YoY Total loan amount facilitated and originated (RMB in million) 29,462 22,749 28,338 24.6 % (3.8 %) Number of active borrowers 1,809,815 1,642,605 1,965,248 19.6 % 8.6 % The total loan amount facilitated and originated [1] in the third quarter of 2024 was RMB28,338 million , compared with RMB29,462 million in the same period of 2023. Total number of active borrowers [2] was 1,965,248 in the third quarter of 2024, compared with 1,809,815 in the same period of 2023. As of September 30, 2023 As of June 30, 2024 As of September 30, 2024 Total outstanding loan balance (RMB in million) 49,685 41,804 45,766 Delinquency rates for all outstanding loans that are past due for 31-60 days 1.11 % 1.29 % 1.02 % Delinquency rates for all outstanding loans that are past due for 91-180 days 2.50 % 4.38 % 3.22 % The total outstanding loan balance [3] as of September 30, 2024 was RMB45,766 million , compared with RMB49,685 million as of September 30, 2023 . The delinquency rate for all outstanding loans that are past due for 31-60 days [4] as of September 30, 2024 was 1.02%, compared with 1.11% as of September 30, 2023 . The delinquency rate for all outstanding loans that are past due for 91-180 days [5] as of September 30, 2024 was 3.22%, compared with 2.50% as of September 30, 2023 . [1] Represents the total amount of loans that the Company facilitated and originated during the relevant period. [2] Represents borrowers who made at least one transaction on the Company's platform during the relevant period. [3] Represents the total amount of loans outstanding for loans that the Company facilitated and originated at the end of the relevant period. Loans that are delinquent for more than 60 days are excluded in the outstanding loan balance, except for Xiaoying Housing Loans. As Xiaoying Housing Loans is a secured loan product and the Company is entitled to payment by exercising its rights to the collateral, the Company does not exclude Xiaoying Housing Loans delinquent for more than 60 days in the outstanding loan balance. [4] Represents the balance of the outstanding principal and accrued outstanding interest for Xiaoying Credit Loans that were 31 to 60 days past due as a percentage of the total balance of outstanding principal and accrued outstanding interest for Xiaoying Credit Loans that the Company facilitated and originated as of a specific date. Xiaoying Credit Loans that are delinquent for more than 60 days are excluded when calculating the denominator. Starting from the first quarter of 2021, substantially all of the loans facilitated and originated by the Company have been Xiaoying Credit Loans. [5] To make the delinquency rate by balance comparable to the peers, the Company also defines the delinquency rate as the balance of the outstanding principal and accrued outstanding interest for Xiaoying Credit Loans that were 91 to 180 days past due as a percentage of the total balance of outstanding principal and accrued outstanding interest for the Xiaoying Credit Loans that the Company facilitated and originated as of a specific date. Xiaoying Credit Loans that are delinquent for more than 180 days are excluded when calculating the denominator. Third Quarter 2024 Financial Highlights (In thousands, except for share and per share data) Three Months Ended September 30, 2023 Three Months Ended June 30, 2024 Three Months Ended September 30, 2024 QoQ YoY RMB RMB RMB Total net revenue 1,396,864 1,372,588 1,582,497 15.3 % 13.3 % Total operating costs and expenses (961,852) (909,535) (1,073,533) 18.0 % 11.6 % Income from operations 435,012 463,053 508,964 9.9 % 17.0 % Net income 347,190 415,303 375,840 (9.5 %) 8.3 % Non-GAAP adjusted net income 374,507 374,661 433,625 15.7 % 15.8 % Net income per ADS—basic 7.26 8.46 7.86 (7.1 %) 8.3 % Net income per ADS—diluted 7.02 8.28 7.74 (6.5 %) 10.3 % Non-GAAP adjusted net income per ADS—basic 7.80 7.62 9.12 19.7 % 16.9 % Non-GAAP adjusted net income per ADS—diluted 7.56 7.50 8.88 18.4 % 17.5 % Total net revenue in the third quarter of 2024 was RMB1,582.5 million ( US$225.5 million ), representing an increase of 13.3% from RMB1,396.9 million in the same period of 2023. Income from operations in the third quarter of 2024 was RMB509.0 million ( US$72.5 million ), compared with RMB435.0 million in the same period of 2023. Net income in the third quarter of 2024 was RMB375.8 million ( US$53.6 million ), compared with RMB347.2 million in the same period of 2023. Non-GAAP [6] adjusted net income in the third quarter of 2024 was RMB433.6 million ( US$61.8 million ), compared with RMB374.5 million in the same period of 2023. Net income per basic and diluted American depositary share ("ADS") [7] in the third quarter of 2024 was RMB7.86 (US$1.12) and RMB7.74 (US$1.10) , compared with RMB7.26 and RMB7.02 , respectively, in the same period of 2023. Non-GAAP adjusted net income per basic and diluted ADS in the third quarter of 2024 was RMB9.12 (US$1.30) and RMB8.88 (US$1.27) , compared with RMB7.80 and RMB7.56 , respectively, in the same period of 2023. [6] The Company uses in this press release the following non-GAAP financial measures: (i) adjusted net income (loss), (ii) adjusted net income (loss) per basic ADS, (iii) adjusted net income (loss) per diluted ADS, (iv) adjusted net income per basic share, and (v) adjusted net income per diluted share, each of which excludes share-based compensation expense, impairment losses on financial investments, income (loss) from financial investments and impairment losses on long-term investments. For more information on non-GAAP financial measure, please see the section of "Use of Non-GAAP Financial Measures Statement" and the table captioned "Unaudited Reconciliations of GAAP and Non-GAAP Results" set forth at the end of this press release. [7] Each American depositary share ("ADS") represents six Class A ordinary shares. Mr. Kent Li , President of the Company, commented, "We are pleased to report another strong quarter, with loan volumes exceeding our forecast and a significant sequential improvement in asset quality. In the third quarter, we continued to promptly adjust loan volumes based on risk levels. As asset quality improved, we further intensified our borrower acquisition efforts, which have yielded very positive results. Both the top and bottom lines continued to grow year-over-year. Non-GAAP adjusted net income reached a new record high." "Specifically on the operational front, our total loan amount facilitated and originated was down 4% year-on-year but up 25% sequentially to RMB28 billion , above the high end of our guidance. Delinquency rates for all outstanding loans past due for 31-60 days and 91-180 days were 1.02% and 3.22%, respectively, at the end of the quarter, compared to 1.29% and 4.38% a quarter ago and 1.11% and 2.50% a year ago. We are pleased with these improvements in asset quality and will continue to optimize our risk management system through advanced technology." "In September this year, the Chinese government unveiled a comprehensive stimulus package aimed at improving liquidity, boosting the property market, stabilizing financial markets and stimulating consumption. We expect this will provide a meaningful boost to the macroeconomic recovery. As an integral part of the economy, the personal finance market we serve should benefit from this upturn. We have already observed positive signs in the market and are committed to adjusting loan volumes in line with risk levels. As a result of this favorable environment, we are raising our guidance and expect our monthly loan volume to exceed RMB10 billion in the fourth quarter, setting a new record." Mr. Frank Fuya Zheng , Chief Financial Officer of the Company, added, "I'm pleased to report that our strategy of balancing business growth and profitability continued to pay off. Total net revenue was RMB1.6 billion , up 13% year-on-year and 15% sequentially, while non-GAAP adjusted net income reached a record high of RMB434 million , up 16% year-on-year and sequentially. As we continue to deliver strong profitability and execute on our proven strategy, we have full confidence in our future. We will continue to execute our semi-annual dividend policy and explore opportunities under our share repurchase program to return more value to our shareholders over the long term." Third Quarter 2024 Financial Results Total net revenue in the third quarter of 2024 increased by 13.3% to RMB1,582 .5 million ( US$225 .5 million) from RMB1,396.9 million in the same period of 2023, primarily due to growth in various disaggregated revenue items compared with the same period of 2023. Please refer to analysis of disaggregation of revenue below. Three Months Ended September 30, (In thousands, except for share and per share data) 2023 2024 YoY RMB % of Revenue RMB % of Revenue Loan facilitation service 829,385 59.4 % 878,282 55.5 % 5.9 % Post-origination service 168,186 12.0 % 186,109 11.8 % 10.7 % Financing income 300,950 21.5 % 335,765 21.2 % 11.6 % Guarantee income 7,920 0.6 % 53,576 3.4 % 576.5 % Other revenue 90,423 6.5 % 128,765 8.1 % 42.4 % Total net revenue 1,396,864 100.0 % 1,582,497 100.0 % 13.3 % Loan facilitation service fees in the third quarter of 2024 increased by 5.9% to RMB878 .3 million ( US$125 .2 million) from RMB829 .4 million in the same period of 2023, primarily due to a decrease in the expected prepayment rates this quarter compared with the same period of 2023. Post-origination service fees in the third quarter of 2024 increased by 10.7% to RMB186 .1 million ( US$26 .5 million) from RMB168 .2 million in the same period of 2023, primarily due to the cumulative effect of increased volume of loans facilitated in the previous quarters. Revenues from post-origination services are recognized on a straight-line basis over the term of the underlying loans as the services are being provided. Financing income in the third quarter of 2024 increased by 11.6% to RMB335 .8 million ( US$47 .8 million) from RMB301 .0 million in the same period of 2023, primarily due to an increase in average loan receivables held by the Company compared with the same period of 2023. Guarantee income in the third quarter of 2024 was RMB53.6 million ( US$7.6 million ), compared with RMB7.9 million in the same period of 2023, due to the cumulative effect of increased volume of loans facilitated covered by guarantee service in the previous quarters compared with the same period of 2023. Revenues from guarantee service are recognized systematically when the Company released from the underlying risk. Other revenue in the third quarter of 2024 increased by 42.4% to RMB128.8 million ( US$18.3 million ), compared with RMB90.4 million in the same period of 2023, primarily due to an increase in referral service fee for introducing borrowers to other platforms. Origination and servicing expenses in the third quarter of 2024 increased by 13.6% to RMB457 .5 million ( US$65 .2 million) from RMB402 .9 million in the same period of 2023, primarily due to the increase in collection expenses resulting from the cumulative effect of increased volume of loans facilitated and originated in the previous quarters compared with the same period of 2023. Borrower acquisitions and marketing expenses in the third quarter of 2024 increased by 20.7% to RMB506 .8 million ( US$72 .2 million) from RMB419 .9 million in the same period of 2023, primarily due to intensified efforts in borrower acquisitions compared with the same period of 2023. Reversal of provision for loans receivable in the third quarter of 2024 was RMB35 thousand ( US$5 thousand ), compared with provision for loans receivable of RMB53.9 million in the same period of 2023, primarily due to a decrease in the average estimated default rate compared with the same period of 2023, and partially offset by an increase in loans receivable held by the Company as a result of the cumulative effect of increased volume of loans facilitated and originated in the previous quarters compared with the same period of 2023. Provision for contingent guarantee liabilities in the third quarter of 2024 was RMB56.4 million ( US$8.0 million ), compared with RMB41.6 million in the same period of 2023, primarily due to an increase in guarantee liabilities held by the Company as a result of the increased volume of loans facilitated covered by the guarantee service this quarter compared with the same period of 2023. Income from operations in the third quarter of 2024 was RMB509 .0 million ( US$72 .5 million), compared with RMB435 .0 million in the same period of 2023. Income before income taxes and gain from equity in affiliates in the third quarter of 2024 was RMB473 .5 million ( US$67 .5 million), compared with RMB417 .5 million in the same period of 2023. Income tax expense in the third quarter of 2024 was RMB100.3 million ( US$14.3 million ), compared with RMB74.2 million in the same period of 2023. Net income in the third quarter of 2024 was RMB375 .8 million ( US$53 .6 million), compared with RMB347 .2 million in the same period of 2023. Non-GAAP adjusted net income in the third quarter of 2024 was RMB433.6 million ( US$61.8 million ), compared with RMB374.5 million in the same period of 2023. Net income per basic and diluted ADS in the third quarter of 2024 was RMB7 .86 (US$1.12), and RMB7 .74 (US$1.10), compared with RMB7 .26 and RMB7.02 , respectively, in the same period of 2023. Non-GAAP adjusted net income per basic and diluted ADS in the third quarter of 2024 was RMB9 .12 (US$1.30), and RMB8 .88 (US$1.27), compared with RMB7 .80 and RMB7 .56 respectively, in the same period of 2023. Cash and cash equivalents was RMB1,044 .1 million ( US$148 .8 million) as of September 30, 2024 , compared with RMB1,612.2 million as of June 30, 2024 . Recent Development Share Repurchase Plans On September 4, 2024 , the Company further extended the period of the US$30 million share repurchase program until March 31, 2026 . In the third quarter of 2024, the Company repurchased an aggregate of 1,689,722 Class A ordinary shares with 10,038 Class A ordinary shares represented by ADSs for a total consideration of approximately US$1.3 million . The Company has approximately US$4.1 million remaining for potential repurchases under its US$30 million share repurchase plan. As previously disclosed, on May 30, 2024 , the Company announced that its board of directors authorized a new US$20 million share repurchase plan, effective through November 30, 2025 . The Company completed a tender offer in July 2024 under the new share repurchase program, with a total repurchase amount of approximately US$9.2 million . The Company has approximately US$10.8 million remaining under its US$20 million plan. Business Outlook The Company expects the total loan amount facilitated and originated for the fourth quarter of 2024 to be between RMB30.0 billion and RMB31.0 billion . The total loan amount facilitated and originated for 2024 is expected to be between RMB102.6 billion and RMB103.6 billion . This forecast reflects the Company's current and preliminary views, which are subject to changes. Conference Call X Financial's management team will host an earnings conference call at 7:00 AM U.S. Eastern Time on November 27, 2024 ( 8:00 PM Beijing / Hong Kong Time on November 27, 2024 ). Dial-in details for the earnings conference call are as follows: United States: 1-888-346-8982 Hong Kong: 852-301-84992 Mainland China: 4001-201203 International: 1-412-902-4272 Passcode: X Financial Please dial in ten minutes before the call is scheduled to begin and provide the passcode to join the call. A replay of the conference call may be accessed by phone at the following numbers until December 4, 2024 : United States: 1-877-344-7529 International: 1-412-317-0088 Passcode: 3088426 Additionally, a live and archived webcast of the conference call will be available at http://ir.xiaoyinggroup.com . About X Financial X Financial XYF (the "Company") is a leading online personal finance company in China . The Company is committed to connecting borrowers on its platform with its institutional funding partners. With its proprietary big data-driven technology, the Company has established strategic partnerships with financial institutions across multiple areas of its business operations, enabling it to facilitate and originate loans to prime borrowers under a risk assessment and control system. For more information, please visit: http://ir.xiaoyinggroup.com . Use of Non-GAAP Financial Measures Statement In evaluating our business, we consider and use non-GAAP measures as supplemental measures to review and assess our operating performance. We present the non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We believe that the use of the non-GAAP financial measures facilitates investors' assessment of our operating performance and help investors to identify underlying trends in our business that could otherwise be distorted by the effect of certain income or expenses that we include in income (loss) from operations and net income (loss). We also believe that the non-GAAP measures provide useful information about our core operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making. We use in this press release the following non-GAAP financial measures: (i) adjusted net income (loss), (ii) adjusted net income (loss) per basic ADS, (iii) adjusted net income (loss) per diluted ADS, (iv) adjusted net income per basic share, and (v) adjusted net income per diluted share, each of which excludes share-based compensation expense, impairment losses on financial investments, income (loss) from financial investments and impairment losses on long-term investments. These non-GAAP financial measures have limitations as analytical tools, and when assessing our operating performance, investors should not consider them in isolation, or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We mitigate these limitations by reconciling the non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures, which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliations of GAAP and Non-GAAP results" set forth at the end of this press release. Exchange Rate Information This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB 7.0176 to US$1.00 , the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2024 . Disclaimer Safe Harbor Statement This announcement contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "potential," "continue," "ongoing," "targets," "guidance" and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the followings: the Company's goals and strategies; its future business development, financial condition and results of operations; the expected growth of the credit industry, and marketplace lending in particular, in China ; the demand for and market acceptance of its marketplace's products and services; its ability to attract and retain borrowers and investors on its marketplace; its relationships with its strategic cooperation partners; competition in its industry; and relevant government policies and regulations relating to the corporate structure, business and industry. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this announcement is current as of the date of this announcement, and the Company does not undertake any obligation to update such information, except as required under applicable law. Use of Projections This announcement also contains certain financial forecasts (or guidance) with respect to the Company's projected financial results. The Company's independent auditors have not audited, reviewed, compiled or performed any procedures with respect to the projections or guidance for the purpose of their inclusion in this announcement, and accordingly, they did not express an opinion or provide any other form assurance with respect thereto for the purpose of this announcement. This guidance should not be relied upon as being necessarily indicative of future results. The assumptions and estimates underlying the prospective financial information are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could actual results to differ materially from those contained in the prospective financial information. Accordingly, there can be no assurance that the prospective results are indicative of the future performance of the Company, or that actual results will not differ materially from those set forth in the prospective financial information. Inclusion of the prospective financial information in this announcement should not be regarded as a representation by any person that the results contained in the prospective financial information will actually be achieved. You should review this information together with the Company's historical information. For more information, please contact: X Financial Mr. Frank Fuya Zheng E-mail: ir@xiaoying.com Christensen IR In China Mr. Rene Vanguestaine Phone: +86-178-1749 0483 E-mail: rene.vanguestaine@christensencomms.com In US Ms. Linda Bergkamp Phone: +1-480-614-3004 Email: linda.bergkamp@christensencomms.com X Financial Unaudited Condensed Consolidated Balance Sheets (In thousands, except for share and per share data) As of December 31, 2023 As of September 30, 2024 As of September 30, 2024 RMB RMB USD ASSETS Cash and cash equivalents 1,195,352 1,044,144 148,789 Restricted cash, net 749,070 489,372 69,735 Accounts receivable and contract assets, net 1,659,588 1,709,428 243,592 Loans receivable from Credit Loans and other loans, net 4,947,833 4,938,195 703,687 Deposits to institutional cooperators, net 1,702,472 1,739,539 247,882 Prepaid expenses and other current assets, net 48,767 40,824 5,817 Deferred tax assets, net 135,958 192,644 27,452 Long term investments 493,411 491,782 70,078 Property and equipment, net 8,642 11,566 1,648 Intangible assets, net 36,810 36,236 5,164 Loan receivable from Housing Loans, net 8,657 6,494 925 Financial investments 608,198 866,804 123,519 Other non-current assets 55,265 53,259 7,589 TOTAL ASSETS 11,650,023 11,620,287 1,655,877 LIABILITIES Payable to investors and institutional funding partners at amortized cost 3,584,041 2,406,552 342,931 Guarantee liabilities 61,907 102,638 14,626 Deferred guarantee income 46,597 106,054 15,113 Short-term borrowings 565,000 433,500 61,773 Accrued payroll and welfare 86,771 93,047 13,259 Other tax payable 289,819 292,939 41,743 Income tax payable 446,500 496,489 70,749 Accrued expenses and other current liabilities 595,427 732,591 104,394 Dividend payable 59,226 - - Other non-current liabilities 37,571 30,915 4,405 Deferred tax liabilities 30,040 29,003 4,133 TOTAL LIABILITIES 5,802,899 4,723,728 673,126 Commitments and Contingencies Equity: Common shares 207 207 29 Treasury stock (111,520) (155,007) (22,088) Additional paid-in capital 3,196,942 3,194,909 455,271 Retained earnings 2,692,018 3,788,885 539,912 Other comprehensive income 69,477 67,568 9,628 Total X Financial shareholders' equity 5,847,124 6,896,562 982,752 Non-controlling interests - - - TOTAL EQUITY 5,847,124 6,896,562 982,752 TOTAL LIABILITIES AND EQUITY 11,650,023 11,620,290 1,655,878 X Financial Unaudited Condensed Consolidated Statements of Comprehensive Income Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except for share and per share data) 2023 2024 2024 2023 2024 2024 RMB RMB USD RMB RMB USD Net revenues Loan facilitation service 829,385 878,282 125,154 2,125,492 2,224,681 317,015 Post-origination service 168,186 186,109 26,520 429,775 493,520 70,326 Financing income 300,950 335,765 47,846 829,645 1,021,405 145,549 Guarantee income 7,920 53,576 7,635 7,920 132,067 18,819 Other revenue 90,423 128,765 18,349 229,388 291,387 41,522 Total net revenue 1,396,864 1,582,497 225,504 3,622,220 4,163,060 593,231 Operating costs and expenses: Origination and servicing [ 1] 402,939 457,545 65,200 1,123,027 1,299,164 185,129 Borrower acquisitions and marketing [ 1] 419,887 506,758 72,212 1,023,948 1,078,768 153,723 General and administrative [ 1] 40,200 49,499 7,054 114,833 127,047 18,104 Provision for accounts receivable and contract assets 3,748 4,799 684 5,983 22,470 3,202 (Reversal of) provision for loans receivable 53,946 (35) (5) 129,772 157,370 22,425 Provision for contingent guarantee liabilities 41,594 56,366 8,032 41,594 125,635 17,903 Change in fair value of financial guarantee derivative [ 2] - - - (24,966) - - Fair value adjustments related to Consolidated Trusts [ 2] (268) - - 531 - - (Reversal of) provision for credit losses for deposits and other financial assets (194) (1,399) (199) (427) 4,049 577 Total operating costs and expenses 961,852 1,073,533 152,978 2,414,295 2,814,503 401,063 Income from operations 435,012 508,964 72,526 1,207,925 1,348,557 192,168 Interest income (expenses), net (7,322) 1,211 173 (17,778) (4,898) (698) Foreign exchange (gain) loss 1,526 4,881 696 (7,255) (3,351) (478) Income (loss) from financial investments (16,490) (47,635) (6,788) (13,911) 53,887 7,679 Other income, net 4,742 6,048 862 23,005 9,437 1,345 Income before income taxes and gain from equity in affiliates 417,468 473,469 67,469 1,191,986 1,403,632 200,016 Income tax expense (74,172) (100,331) (14,297) (213,779) (254,924) (36,326) Gain from equity in affiliates, net of tax 3,894 2,702 385 19,619 5,572 794 Net income 347,190 375,840 53,557 997,826 1,154,280 164,484 Less: net income attributable to non-controlling interests - - - - - - Net income attributable to X Financial shareholders 347,190 375,840 53,557 997,826 1,154,280 164,484 Net income 347,190 375,840 53,557 997,826 1,154,280 164,484 Other comprehensive income, net of tax of nil: Gain (loss) from equity in affiliates 4 (449) (64) 45 (418) (60) Income from financial investments - 1,580 225 - 6,100 869 Foreign currency translation adjustments (6,301) (12,778) (1,821) 13,624 (7,590) (1,082) Comprehensive income 340,893 364,193 51,897 1,011,495 1,152,372 164,211 Less: comprehensive income attributable to non-controlling interests - - - - - - Comprehensive income attributable to X Financial shareholders 340,893 364,193 51,897 1,011,495 1,152,372 164,211 Net income per share—basic 1.21 1.31 0.19 3.47 3.96 0.56 Net income per share—diluted 1.17 1.29 0.18 3.43 3.87 0.55 Net income per ADS—basic 7.26 7.86 1.12 20.82 23.76 3.39 Net income per ADS—diluted 7.02 7.74 1.10 20.58 23.22 3.31 Weighted average number of ordinary shares outstanding—basic 287,806,370 285,857,203 285,857,203 287,412,729 291,622,784 291,622,784 Weighted average number of ordinary shares outstanding—diluted 297,114,127 292,339,641 292,339,641 291,209,263 298,036,305 298,036,305 [1] Starting in the first quarter of 2024, management has concluded to separate expenses related to borrower acquisitions from origination and servicing expenses and indirect expenses of the borrower acquisitions from general and administrative expenses to a single line item as theses expenses become more and more significant and thus deemed to be useful to financial statement users. Furtherly, management has determined to embed the sales and marketing expenses, which is not considered as material, in other line item. In conclusion, management has decided to combine these two line items into one captioned borrower acquisitions and marketing expenses. Management has correspondingly conformed prior period presentation to current period presentation to enhance comparability. This change in presentation does not affect any subtotal line on the face of consolidated statements of comprehensive income. (In thousands, except for share and per share data) Three Months Ended September 30, 2023 Changes before re-grouping after re-grouping RMB RMB RMB Origination and servicing 811,078 402,939 (408,139) Borrower acquisitions and marketing expenses - 419,887 419,887 Sales and marketing 3,360 - (3,360) General and administrative 48,588 40,200 (8,388) [2] Starting in the first quarter of 2024, management has considered the facts that fair value change related to financial guarantee services and Consolidated Trusts are generated from ordinary course of businesses, and has concluded to reclass the amount to captions above total operating costs and expenses. Prior to the reclassification, management classified all amount of fair value changes to captions below total operating costs and expenses. This reclassification does not have impact on net income for any prior periods presented. X Financial Unaudited Reconciliations of GAAP and Non-GAAP Results Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except for share and per share data) 2023 2024 2024 2023 2024 2024 RMB RMB USD RMB RMB USD GAAP net income 347,190 375,840 53,557 997,826 1,154,280 164,484 Less: Income (loss) from financial investments (net of tax of nil) (16,490) (47,635) (6,788) (13,911) 53,887 7,679 Less: Impairment losses on financial investments (net of tax of nil) - - - - - - Less: Impairment losses on long-term investments (net of tax) - - - - - - Add: Share-based compensation expenses (net of tax of nil) 10,827 10,150 1,446 34,178 30,096 4,289 Non-GAAP adjusted net income 374,507 433,625 61,791 1,045,915 1,130,489 161,094 Non-GAAP adjusted net income per share—basic 1.30 1.52 0.22 3.64 3.88 0.55 Non-GAAP adjusted net income per share—diluted 1.26 1.48 0.21 3.59 3.79 0.54 Non-GAAP adjusted net income per ADS—basic 7.80 9.12 1.30 21.84 23.28 3.32 Non-GAAP adjusted net income per ADS—diluted 7.56 8.88 1.27 21.54 22.74 3.24 Weighted average number of ordinary shares outstanding—basic 287,806,370 285,857,203 285,857,203 287,412,729 291,622,784 291,622,784 Weighted average number of ordinary shares outstanding—diluted 297,114,127 292,339,641 292,339,641 291,209,263 298,036,305 298,036,305 View original content: https://www.prnewswire.com/news-releases/x-financial-reports-third-quarter-2024-unaudited-financial-results-302316439.html SOURCE X Financial © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Prince Louis ' priceless reaction to helping his big sister Princess Charlotte toast marshmallows thrilled royal fans last year. The lively six-year-old was snapped tucking into the treat as the Wales family took part in the Big Help Out at 3rd Upton Scouts Hut in Slough as they gave the bid to renovate and improve the building a boost. Little Louis was overwhelmed with excitement as he enjoyed a messy s'more around the fire as a reward for his hard work while volunteering. He lent a hand during his first-ever royal engagement during the summer, which he carried out with his older siblings Prince George and Charlotte for the third day of coronation celebrations. Louis took a well-deserved break from digging with his dad to wrap his lips around the yummy marshmallows. Footage shows Kate and a scout member helping keen Louis prepare a marshmallow biscuit sandwich, which he really could not wait to devour. He even helped his sister during the day and his mum Kate Middleton with a wheelbarrow on an action-packed afternoon in May. But it wasn't all hard work. The Princess of Wales revealed her cute nickname for Louis as she told him to pop his wooden stick in the fire - affectionately calling him 'Lou-Bugs'. The Little Prince didn't waste a second getting the sticky s'more into his mouth and licked the marshmallow off his fingers before tucking it in. In the background, William can be heard joking about his youngest son: "You won't hear a peep out of him now", which got the crowd chuckling. After Louis' first bite, he turns around and rolls his head backwards in delight, before falling onto Charlotte, who looked like she needed a break! The young boy's reactions amused his audience and garnered interest on social media, with royal fans besotted by his humorous ways. The Prince had been forced to sit out the Coronation Concert due to his young age and the late finish, but he was keen to make up for that. Wearing his trademark shorts, Louis sat in his father's lap as William operated a digger and moved the mechanical arm to grab a bucket full of soil before dumping it on a spoil heap. Later, the Prince was given the task of filling a wheelbarrow with what looked like builders' sand and he focused on the job, diligently shovelling the material before wheeling the barrow himself.
Notre Dame Will Be Without Howard Cross, KK Smith Against Army
Stephon Gilmore still not practicing for VikingsSupreme Court will take up a challenge related to California's tough vehicle emissions standards WASHINGTON (AP) — The Supreme Court says it will take up a business-backed appeal that could make it easier to challenge federal regulations, acting in a dispute related to California’s nation-leading standards for vehicle emissions. The justices agreed Friday to hear an appeal filed by fuel producers who object to a waiver granted to California in 2022 by the Environmental Protection Agency during Joe Biden’s presidency. The waiver allows California to set more stringent emissions limits than the national standard. The case won’t be argued until the spring, when the Trump administration is certain to take a more industry-friendly approach to the issue. Musk says US is demanding he pay penalty over disclosures of his Twitter stock purchases DETROIT (AP) — Elon Musk says the Securities and Exchange Commission wants him to pay a penalty or face charges involving what he disclosed — or failed to disclose — about his purchases of Twitter stock before he bought the social media platform in 2022. In a letter, Musk’s lawyer Alex Spiro tells the outgoing SEC chairman, Gary Gensler, that the commission’s demand for a monetary payment is a “misguided scheme” that won’t intimidate Musk. The letter also alleges that the commission reopened an investigation this week into Neuralink, Musk’s computer-to-human brain interface company. The SEC has not released the letter. Nor would it comment on it or confirm whether it has issued such a demand to Musk. Senate begins final push to expand Social Security benefits for millions of people WASHINGTON (AP) — The Senate is pushing toward a vote on legislation that would provide full Social Security benefits to millions of people. Senate Majority Leader Chuck Schumer began the process on Thursday for a final vote on the bill, known as the Social Security Fairness Act. It would eliminate policies that currently limit Social Security payouts for roughly 2.8 million people. The legislation has passed the House. The bill would add more strain on the Social Security Trust funds, which are already estimated to be unable to pay out full benefits beginning in 2035. The measure would add an estimated $195 billion to federal deficits over 10 years, according to the Congressional Budget Office. Trump offers support for dockworkers union by saying ports shouldn't install more automated systems WASHINGTON (AP) — President-elect Donald Trump is offering his support for the dockworkers union before their contract expires next month at Eastern and Gulf Coast ports. He posted on social media Thursday that he met with union leaders and that any further “automation” of the ports would harm workers. He wrote that the “amount of money saved is nowhere near the distress, hurt, and harm it causes for American Workers.” The International Longshoremen’s Association has until Jan. 15 to negotiate a new contract with the U.S. Maritime Alliance, which represents ports and shipping companies. The Maritime Alliance says the technology will improve worker safety and strengthen our supply chains, among other things. IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power WASHINGTON (AP) — IRS leadership on Thursday announced that the agency has recovered $4.7 billion in back taxes and proceeds from a variety of crimes. The announcement comes under the backdrop of a promised reckoning from Republicans who will hold a majority over both chambers of the next Congress and have long called for rescinding the tens of billions of dollars in funding provided to the agency by Democrats. IRS Commissioner Danny Werfel said improvements made to the agency will help the incoming administration and new Republican majority congress achieve its goals of administering an extension of the 2017 Tax Cuts and Jobs Act. OpenAI's legal battle with Elon Musk reveals internal turmoil over avoiding AI 'dictatorship' A 7-year-old rivalry between tech leaders Elon Musk and Sam Altman over who should run OpenAI and best avoid an artificial intelligence ‘dictatorship’ is now heading to a federal judge as Musk seeks to halt the ChatGPT maker’s ongoing conversion into a for-profit company. Musk, an early OpenAI investor and board member, sued the artificial intelligence company earlier this year. Musk has since escalated the dispute, adding new claims and asking for a court order that would stop OpenAI’s plans to convert itself into a for-profit business more fully. OpenAI is filing its response Friday. OpenAI's Altman will donate $1 million to Trump's inaugural fund LOS ANGELES (AP) — OpenAI CEO Sam Altman is planning to make a $1 million personal donation to President-Elect Donald Trump’s inauguration fund, joining a number of tech companies and executives who are working to improve their relationships the incoming administration. A spokesperson for OpenAI confirmed the move on Friday. The announcement comes one day after Meta, the parent company of Facebook and Instagram, said it donated $1 million to the same fund. Amazon also said it plans to donate $1 million. China signals it's prepared to double down on support for the economy as Trump tariffs loom BANGKOK (AP) — Chinese leaders met this week to plot economic policy for the coming year and sketched out plans to raise government spending and relax Beijing's monetary policy. Analysts said the broad-brush plans from the annual Central Economic Work Conference were more of a recap of current policy than ambitious new initiatives at a time when the outlook is clouded by the President-elect Donald Trump's threats to sharply raise tariffs once he takes office. The ruling Communist Party did commit to raising China's deficit and to doing more to encourage consumer spending by bringing wage increases in line with the pace of economic growth. Here's a look at China's main priorities and their potential implications. Stock market today: Wall Street slips at the end of a bumpy week Stocks slipped as Wall Street closes out a rare bumpy week. The S&P 500 was up less than 0.1% in afternoon trading Friday and headed for a weekly loss. The benchmark index hit its latest in a string of records a week ago. The Dow Jones Industrial Average fell 58 points. The Nasdaq composite was up 0.1%. Broadcom surged after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. Treasury yields edged higher in the bond market. European markets were mostly lower and Asian markets mostly fell. Next Week: Retail sales, Fed policy update, existing home sales The Commerce Department releases its monthly snapshot of U.S. retail sales Tuesday. Federal Reserve officials wrap up a two-day meeting and issue an interest rate policy update Wednesday. The National Association of Realtors issues its latest update on U.S. home sales Thursday.
A controversial Sarnia councillor is under fire for a vulgar exchange during a city budget meeting on Tuesday. Coun. Bill Dennis launched personal attacks against the mayor and some city staffers, resulting in his expulsion. It began with Dennis questioning consulting fees, but diverted quickly into the use of profanity and insults, including the F-word. Dennis, who has frequently sparred with other members of the Sarnia Council and staff, is currently suing the CAO. In an interview late Tuesday with CTV News London, Dennis stated he can “get a little testy” at times, but he stands by his statements. He said his actions are on behalf of his constituents who are tired of, “weak leadership,” and Sarnia falling economically behind London and St. Thomas. A screenshot of a Sarnia council meeting on Nov. 26, 2024, that resulted in Coun. Bill Dennis being expelled. (Source: YourTV Sarnia/YouTube) Dennis said Mayor Mike Bradley should anticipate the same after decades in the mayor’s chair. “I’m a guy, I’m a man. That kind of stuff doesn’t hurt my feelings. If that kind of stuff hurts his feelings, so be it,” Dennis stated. While he was unapologetic towards the mayor and others in the online budget meeting, Dennis did offer an apology to the people of Sarnia for his choice of words. “I would apologize to the citizens of Sarnia. They deserve better than that. But, to be honest with you, I refuse to be taken advantage of by people who play games,” he said. Dennis, who intends to run for mayor in the next municipal election, calls himself an “intense and emotional person.” But Bradley said his words were “foul” “obscene” and “unacceptable.” He told CTV News London, “I was extremely disappointed more in sorrow than anger. That's one individual who would be so disruptive and this has been going on and on and on. And the language used today attacking people was just not acceptable in any venue.” Bradley said this is the first time in his 36 years as mayor of Sarnia that he has expelled a council member from a meeting. Shopping Trends The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us. Editor's Picks The Ultimate 2024 Holiday Gift Guide For Nature Lovers And Outdoor Adventurers 27 Of The Absolute Best Stocking Stuffers For Men 24 Of The Best Host And Hostess Gifts You Can Find Online Right Now Home Our Guide To The Best Home Weather Stations In Canada In 2024 (And Where To Get Them) Our Guide To The Best Stand Mixers In Canada In 2024 (And Where To Get Them) Our Guide To The Best Nespresso Machines in Canada in 2024 (And Where to Get Them) Gifts 22 Gifts That Are Guaranteed To Impress Just About Anyone 15 Useful Amazon Products That Make Great Stocking Stuffers 19 Of The Best Tech Gifts Under $100 Beauty 20 Anti-Aging Skincare Products That Reviewers Can’t Stop Talking About 12 Budget-Friendly Makeup Brushes And Tools Worth Adding To Your Kit If You Suffer From Dry Skin, You'll Want To Add At Least One Of These Hydrating Moisturizers To Your Cart Deals Upgrade Your Cat’s Bathroom: Litter-Robot's Black Friday Sale Is Here Early Black Friday Deal: Save Up To 60% On Emma Sleep Mattresses And Sleep Bundles These Grippy Non-Slip Socks Will Level Up Your Pilates Practice, And They're On Sale Right Now For Black Friday London Top Stories Police look to identify 3 suspects in shooting investigation, arrest 4th suspect Sarnia councillor won't apologize to mayor and staff for vulgar attacks during meeting 'What I envision is a low barrier shelter': Woodstock council endorses mayor’s proposal for homelessness service centre Goderich woman’s 'passion' for Christmas on display for all to enjoy Sending parents home with their healthy infants sooner, LHSC establishes permanent early discharge program Fatal crash reported south of Ingersoll 24 arrests as part of Hamilton, Ont. street gang investigation, with ties to Toronto, Waterloo and Brantford Man allegedly breaks into woman’s house, stands naked with a knife beside her bed: Sarnia police CTVNews.ca Top Stories BREAKING | Follow live: Serial killer Paul Bernardo denied parole for a third time Notorious killer Paul Bernardo has been denied parole for a third time following a hearing before the Parole Board of Canada. Loonie tanks after Trump threatens tariffs on Canadian goods The Canadian dollar fell to its lowest level since May 2020 after Donald Trump threatened to impose tariffs on Canadian goods shipped to the United States once he takes office in January. Should Canada retaliate if Trump makes good on 25 per cent tariff threat? After U.S. president-elect Donald Trump threatened to impose a 25 per cent tariff on all Canadian imports on his first day back in the White House unless his border concerns are addressed, there is mixed reaction on whether Canada should retaliate. 'We need to do better': Canadian leaders respond to Trump's border concerns As U.S. president-elect Donald Trump threatens Canada with major tariffs, sounding alarms over the number of people and drugs illegally crossing into America, Conservative Leader Pierre Poilievre and some premiers say they agree that more could be done. Biden says Israel-Hezbollah ceasefire will take effect Wednesday morning A ceasefire between Israel and Lebanon's Hezbollah will take effect on Wednesday after both sides accepted an agreement brokered by the United States and France, U.S. President Joe Biden said on Tuesday. As Trump vows major tariff hike, a look at what the U.S. imports from Canada Some Canadian products could face huge tariffs on the first day of Donald Trump's administration in January. Here’s a quick look at what the U.S. imports from Canada. Longtime member of Edmonton theatre community dies during 'A Christmas Carol' performance Edmonton's theatre community is in mourning after an actor died during a performance of "A Christmas Carol" at the Citadel Theatre on Sunday. Police chief says 'extreme left group' behind Montreal protest violence; Legault calls for more arrests Quebec Premier Francois Legault is putting pressure on the Montreal police to arrest everyone involved in an anti-NATO protest that turned violent last week. Canadian government suspends contracts with Boissonnault's former company The medical supply company co-founded by Liberal MP and former minister Randy Boissonnault has been suspended from bidding on or entering into contracts with the Government of Canada. Kitchener Guelph man guilty in hit-and-run crash that killed cyclist A Guelph man has pleaded guilty to leaving the scene of a crash that resulted in the death of a cyclist and community advocate. Paul Bernardo denied parole after victims' families plead he be kept behind bars Notorious killer and rapist Paul Bernardo has been denied parole for a third time after the families of his victims made an emotional plea to the Parole Board of Canada on Tuesday to keep him behind bars. 24 arrests as part of Hamilton, Ont. street gang investigation, with ties to Toronto, Waterloo and Brantford Police in Hamilton, Ont. have arrested 24 people as part of a street gang investigation with connections to Toronto, Halton, Waterloo and Brantford. Barrie One person seriously injured in collision with dump truck Emergency crews are at the scene of a serious collision between a dump truck and a minivan in Clearview Township. Multi-vehicle crash involving dump truck sends 3 to hospital Three people were hospitalized after police say a dump truck struck four vehicles in Newmarket on Monday afternoon. Break-in and theft at Barrie business under investigation Police in Barrie are investigating an alleged break-in and theft from a business in the south end. Windsor Two suspects wanted for pharmacy break-in Windsor police are searching for two suspects after a break-in at a pharmacy on Tecumseh Road East. Lakeshore man facing more sex assault charges after second alleged victim comes forward Essex County OPP say a Lakeshore man is facing more sexual assault charges after a second alleged victim has come forward. Amicable end proposed for former Grace Hospital site The Corporation of the City of Windsor and Fairmount Properties LLC issued a joint statement about the former Grace Hospital site near downtown Windsor. Northern Ontario Police seize $1M in drugs in northwestern Ont. bust Suspects from Alberta and B.C. are in custody after Ontario Provincial Police made a massive drug bust at a rental unit near Kenora, Ont. Sudbury resident scammed out of $20K, suspect from southern Ont. charged A 21-year-old from southern Ontario has been charged with several offences after a victim from Greater Sudbury was tricked into giving him $20,000. Sudbury driver arrested for impaired twice in 8 hours A 38-year-old Sudbury man arrested for impaired driving Monday afternoon was arrested for the same offence early Tuesday morning. Sault Ste. Marie Police seize $1M in drugs in northwestern Ont. bust Suspects from Alberta and B.C. are in custody after Ontario Provincial Police made a massive drug bust at a rental unit near Kenora, Ont. Sault police issue alert about surge in grandparent scams The Sault Ste. Marie Police Service warned residents Tuesday about a surge in grandparent scams targeting local senior citizens. Sault road reopens after building safely demolished A building on Queen Street East in Sault Ste. Marie is in danger of collapsing because of heavy snow. Ottawa 'It's insulting:' Ontario premier slams Trump on Canadian tariff threat Ontario Premier Doug Ford is reacting to a threat from incoming U.S. president-elect Donald Trump to impose tariffs on imports from Canada, calling the proposal ‘insulting’ and emphasizing the need for leaders to work together on a response. O-Train Line 2 and 4 opening pushed into December at the earliest The head of Ottawa's transit service says we will learn more about the launch of O-Train Line 2 and 4 next week, as the north-south light rail line remains closed to passengers. More winter weather expected this week in Ottawa A freezing rain warning in Ottawa has been lifted after a low-pressure system moved through eastern Ontario on Tuesday. Environment Canada says freezing rain will transition to rain as temperatures rise above 0 C this morning. Toronto Ford says Trump's proposed 25 per cent tariff on Canadian goods like 'a family member stabbing you right in the heart' Ontario Premier Doug Ford says a 25 per cent tariff on all Canadian goods proposed by U.S. president-elect Donald Trump is akin to 'a family member stabbing you right in the heart.' BREAKING | Follow live: Serial killer Paul Bernardo denied parole for a third time Notorious killer Paul Bernardo has been denied parole for a third time following a hearing before the Parole Board of Canada. Wanted suspect shot at passing vehicles on Highway 401 in Mississauga: OPP Ontario Provincial Police are looking for a man who they say shot at several vehicles on Highway 401 in Mississauga Tuesday morning. Montreal Cinemas Guzzo closing West Island theatre amid major financial troubles Cinemas Guzzo owner and reality TV star Vincenzo (Vince) Guzzo said he will close the Cinema Des Sources location as he faces financial trouble and fights to save his business. Police chief says 'extreme left group' behind Montreal protest violence; Legault calls for more arrests Quebec Premier Francois Legault is putting pressure on the Montreal police to arrest everyone involved in an anti-NATO protest that turned violent last week. 'Broken lives and families': former members of Quebec religious community speak out Several former members of fringe religious community the Mission de L’Esprit Saint are urging the Quebec government to intervene following claims that it was a cult that brainwashed some members. Their stories are being told in a new documentary by Noovo Info. Atlantic Nova Scotians head to the polls to vote in snap election; results delayed by an hour Nova Scotians are casting their votes Tuesday in a snap provincial election, but they won't learn the outcome until after 9 p.m., due to a delayed opening at a polling station. N.S. man charged with attempted murder after assault left victim with significant injuries A 30-year-old man is facing an attempted murder charge after an alleged assault in Denmark, N.S., on Monday. N.S. lobster buyer calls for heightened policing after shot fired into Meteghan home A lobster buyer in Meteghan, N.S., is looking for increased policing and a community-wide push aimed at organized crime after a bullet was fired into his home on Saturday night. Winnipeg 'It would mean a recession': Premier Kinew speaks on Trump's tariff threat Tariffs on Canadian goods headed to the United States would mean a recession in Manitoba. That is how Manitoba Premier Wab Kinew feels about comments from president-elect Donald Trump Monday. 'They're scared to come to work': Winnipeg transit union calls for more safety measures amid rise in violence A string of recent violent attacks against operators and passengers has prompted the union to sound the alarm. Steinbach man charged with child luring: RCMP A 20-year-old man from Steinbach has been charged with child luring, and RCMP have released one of his social media handles to help identify more victims. Calgary TSB orders more training following incident involving plane in Calgary The Transportation Safety Board says an incident that involved a Westjet plane hitting the runway in Calgary earlier this year was connected to an issue with pilot training on a particular model of aircraft. 'We are a weak link': Canada's border security under the microscope following Trump tariff threat Canada’s border security has been thrust into the spotlight after president-elect Donald Trump threatened the country with a 25 per cent tariff on all goods, including energy coming into the U.S. LIVE | Alberta to announce actions against Ottawa's proposed emissions cap The Alberta government is hitting back at the proposed federal emissions cap Tuesday afternoon. Edmonton LIVE | Alberta to announce actions against Ottawa's proposed emissions cap The Alberta government is hitting back at the proposed federal emissions cap Tuesday afternoon. Alberta Premier Danielle Smith says Trump's border concerns are valid as tariffs loom Alberta Premier Danielle Smith says Donald Trump’s concerns about the border are valid, as the president-elect threatens sweeping tariffs on Canadian goods. Edmonton police officer charged with assault An Edmonton police officer has been charged with assault. Regina Charged dropped against ex Regina high school teacher accused of sexual exploitation of student A former Regina high school teacher accused of having a sexual relationship with a 15-year-old female student was acquitted on Tuesday of all five charges he faced, Regina’s Court of King’s Bench confirmed to CTV News. SJHL game postponed in Weyburn over ammonia leak A hockey game scheduled between the Yorkton Terriers and Weyburn Red Wings has been postponed due to a "mechanical issue." Defence-called expert says Regina chiropractor accused of sexual assault followed industry standards An expert called by Ruben Manz’s defence counsel testified the Regina-based chiropractor, who is facing several sexual assault charges, followed the industry standard of care when treating the complainants. Saskatoon Saskatoon man hospitalized after he was allegedly stabbed in the forehead A man has been taken to hospital after he was allegedly stabbed in the forehead early on Tuesday. City to begin removing snow piled up across city Now that most major streets have been cleared of snow throughout Saskatoon, city crews will begin removing the snow. City of Saskatoon spent $300,000 on Bus Rapid Transit rebrand The Canadian Taxpayer’s Federation is criticizing the City of Saskatoon for spending more than $300,000 to brand the city’s bus rapid transit system as Link. Vancouver B.C. court levies $4K fine, year-long ban for illegal fishing A British Columbia man was handed a $4,000 fine and a one-year fishing ban after he was caught using a gillnet to catch salmon outside of the legal fishing season. Man who stabbed stranger at Vancouver Tim Hortons released to halfway house: police Vancouver police are warning the public that a man convicted in the random stabbing of a stranger at a downtown Tim Hortons in 2022 will once again be living at a halfway house in the city. B.C. teen with avian flu remains in critical care, no other cases identified The teenager who is infected with the first human case of H5N1 avian influenza acquired in Canada remains in critical care at BC Children’s Hospital, officials said Tuesday. Vancouver Island B.C. court levies $4K fine, year-long ban for illegal fishing A British Columbia man was handed a $4,000 fine and a one-year fishing ban after he was caught using a gillnet to catch salmon outside of the legal fishing season. Man who stabbed stranger at Vancouver Tim Hortons released to halfway house: police Vancouver police are warning the public that a man convicted in the random stabbing of a stranger at a downtown Tim Hortons in 2022 will once again be living at a halfway house in the city. B.C. premier says Canada will negotiate from 'position of strength' on US tariff British Columbia Premier David Eby said Canada had to approach Donald Trump's plan to impose a 25 per cent U.S. tariff on Canadian goods from a position of strength, as business, trade and community organizations called for quick action on the trade threat. Stay ConnectedMoni scores 25 in North Dakota State's 91-62 win against Wisconsin-Stout
