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Article content WASHINGTON — Donald Trump threatened the United States’s closest neighbours with big tariffs this week, in a move that has reminded many of the unpredictable tactics the president-elect deployed during his first tenure in the White House. Recommended Videos Trump said Monday he would use an executive order to impose 25% tariffs on all goods coming from Canada and Mexico until the two countries stop drugs and migrants from illegally crossing the U.S. border. The announcement, made on Truth Social, brought swift responses from officials and industry in both countries who are bracing for chaos during Trump’s second tenure. He has long used the threat of import taxes to pressure other countries to do his bidding, saying this summer that “the most beautiful word in the dictionary is ‘tariff.'” It’s unlikely the move would violate the Canada-U.S.-Mexico Agreement, which was negotiated during the first Trump administration. Laura Dawson, an expert on Canada-U. S. relations and the executive director of the Future Borders Coalition, said the president can impose tariffs under his national security powers. This type of duty has a time limit and can only be made permanent through Congressional approval, but for Trump, national security powers are like a “get out of jail free card,” Dawson said. “This is exactly what happened in the last Trump administration,” Dawson said. “Everyone said, ‘Well, that is ridiculous. Canada is the U.S.’s best security partner. What do you mean our steel and aluminum imports are somehow a source of insecurity?”‘ But within the global trade system, she said, no country challenges another’s right to define their own national security imperatives. Trump’s first administration demonstrated how vulnerable Canada is to America’s whims when the former president scrapped the North American Free Trade Agreement. The U.S. is Canada’s closest neighbour and largest trading partner. More than 77% of Canadian exports go to the U.S. Negotiation of CUSMA, commonly dubbed “the new NAFTA,” was a key test for Ottawa following Trump’s first victory. The trilateral agreement is up for review in 2026 and experts suspect this week’s tariff announcement is a negotiating tactic. Scott Bessent, Trump’s pick for treasury secretary, said in a recent op-ed that tariffs are “a useful tool for achieving the president’s foreign policy objectives. “Whether it is getting allies to spend more on their own defence, opening foreign markets to U.S. exports, securing co-operation on ending illegal immigration and interdicting fentanyl trafficking, or deterring military aggression, tariffs can play a central role.” During the initial CUSMA negotiations in 2018, Trump floated the idea of a 25% tariff on the Canadian auto sector — something that would have been crippling for the industry on both sides of the border. It was never implemented. At the time, he did use his national security powers to impose a 25% tariff on steel and a 10% tariff on aluminum imports, casting fear of an all-out trade war that would threaten the global economy. The day after announcing those levies, Trump posted on social media “trade wars are good, and easy to win.” RECOMMENDED VIDEO Former U.S. trade representative Robert Lighthizer recounted in his book that the duties sent an “unmistakable signal that business as usual was over. “The Trump administration was willing to ruffle diplomatic feathers to advance its trade agenda.” It led to a legendary clash between Prime Minister Justin Trudeau and Trump at the G7 in Quebec. Trudeau said Canada would impose retaliatory measures, saying the argument that tariffs on steel and aluminum were a matter of national security was “kind of insulting.” Trump took to social media, where, in a flurry of posts he called Trudeau “very dishonest and weak.” Canada and other countries brought their own duties against the U.S. in response. They targeted products for political, rather than economic, reasons. Canada hit yogurt with a 10% duty. Most of the product impacted came from one plant in Wisconsin, the home state of then-Republican House Speaker Paul Ryan. The European Union, Mexico and Canada all targeted U.S. whiskey products with tariffs, in a clear signal to then Republican Senate Majority Leader Mitch McConnell and his home state of Kentucky’s bourbon industry. RECOMMENDED VIDEO Ultimately, Canada and Mexico were able to negotiate exemptions. Carlo Dade, the director of trade and trade infrastructure at the Canada West Foundation, said Trump is returning to the White House with more experience and a plan. But he suspects Americans will not like the blow to their bank accounts. Trump’s new across-the-board tariff strategy would not only disrupt global supply chains, it would also cause a major shakeup to the American economy. It’s unclear if Trump will go through with them, or for how long, after campaigning on making life more affordable and increasing the energy market. “I think it will be short term,” Dade said. “The U.S. can only inflict damage on itself for so long.” — With files from The Associated Press.
Walmart's DEI rollback signals a profound shift in the wake of Trump's election victoryNo. 24 Arizona is coming off consecutive defeats for the first time in the Tommy Lloyd era when it faces undefeated Davidson on Wednesday to begin the Battle 4 Atlantis in Paradise Island, Bahamas. Arizona (2-2) lost at Wisconsin 103-88 on Nov. 15 and followed that with a home loss against Duke 69-55 on Friday. The Wildcats have dropped 15 spots in the Associated Press Top 25 poll in two weeks. Arizona's record is .500 this early in a season for the first time since it was 3-3 to start the 2017-18 schedule. "I've got work to do, so let's get to work," said Lloyd, in his fourth year as Arizona's head coach. "Let's see where we're at in a month, and if we're still struggling, you know what I'll do? I still got work to do, but I'm gonna get to it." Arizona shot 39.6 percent from the field against Duke, and just 26.1 percent (6 of 23) from 3-point range. The Wildcats were outrebounded by 43-30 and their 15 turnovers led to 19 points. Jaden Bradley led Arizona with 18 points and KJ Lewis added 12. Preseason All-American Caleb Love had eight points on 3-of-13 shooting from the field, including 1-of-9 from 3-point range. Arizona made only one field goal in the last 5:39 as Duke pulled away after its lead was trimmed to six points. "We didn't play great," Lloyd said. "Now we need to take a step back and figure out why. Are there some schematic problems? Are there some problems with how our personnel is kind of put together? "We got to figure out what our certainties are, and the things we have to have, and then over the course of the next couple of days, if there's adjustments we need to make, we need to figure out what those are." Davidson is 4-0 after a 15-17 record last season, in which it lost its last six games to put an end to postseason hopes. A 93-66 win over visiting VMI on Friday followed a 91-85 win at Bowling Green and 76-70 victory over visiting East Tennessee State. The two wins by 10 points or fewer are important because Davidson was 6-12 in such games last season. It was 4-11 in games decided by five points or fewer. "The goal (is) to get better," Davidson head coach Matt McKillop said after the season opener. "We talk about fighting to win every possession. I think we had to figure out what that really felt like with the lights on." Davidson made 13 shots from 3-point range in the win over VMI. Reed Bailey had 23 points, eight rebounds and six assists. Bobby Durkin added 19 points, including 17 of them and a career-best five 3-pointers in the first half. Bailey leads Davidson in scoring (19 points per game) and rebounding (7.8). Durkin is shooting 57.9 percent (22 of 38) from the field and 54.2 percent (13 of 24) from 3-point range. By contrast, Arizona's Love is shooting 32 percent (16 of 50) from the field and 21.4 percent (6 of 28) from beyond the arc. Bradley leads Arizona with 15.5 points per game. He is shooting 50 percent (24 of 48) from the field and is 35.7 percent (5 of 14) from 3-point range. --Field Level Media
Coherent Corp. CEO James Robert Anderson buys $51,988 in stockThe practice of using AI to write police reports has come under attack from the American Civil Liberties Union — and its new paper on the issue could end up influencing competition among suppliers of technology to law enforcement. The report is a fusillade against Axon, which makes body cameras and other products, along with software for AI-powered police reports. has faced controversy before about its products. In 2022, most of its AI Ethics Board resigned over the company’s plan to put . But the nearly century-old civil rights organization goes beyond criticism of that one company and says that police departments should avoid using artificial intelligence in most instances when crafting police reports. Many officers consider that task as among the most time-consuming chores they have, providing an opening to sellers of government technology. The need to be legally and factually precise — to create writing that will withstand scrutiny in court — adds pressure to the process. Not only that, but writing doesn’t come naturally to all police officers. That’s why gov tech companies such as have developed products designed to make that part of policing more efficient, using as a prompt and automation tool for police reports. The ACLU report, “ ” takes direct aim at Axon to make the case that AI can be sloppy and biased when used to guide the report-writing process. The ACLU bases its argument around several common criticisms of AI found in all industries: potential unreliability and bias, a lack of transparency around AI learning models and inputs, and the absence of privacy protections. In its paper, the ACLU anchored those concerns in the group’s analysis of Axon’s . The product takes audio files from body cameras, runs them through OpenAI’s GPT-4 large language model and produces what the ACLU report calls a “first-person narrative for the officer in the typical format of a police report.” Described by Axon as a “force multiplier” because, the company says, officers can spend up to 40 percent of their time on reports, Draft One prompts officers to insert specific details such as speed limits and driver’s license status to complete the famously dry narratives. As the ACLU analysis notes, Draft One also includes what amounts to a safety valve: The random insertion of “silly sentences” — say, a mention of a flying squirrel — into the reports to ensure that officers fix it. The idea is to make sure police officers are really reading and checking the veracity of these AI-generated reports. The ACLU, citing a comment from Axon leadership, is skeptical that all police departments would use that safeguard. The group also worries that and “absorb the racism, sexism and other biases” picked up by AI as it takes in vast amounts of data from the digital world. Data from body cameras also could provide less-than-complete data, depending on the sensitivity and placement of the microphone and other factors, the ACLU says. And since corporate use of AI training models are not subject to Freedom of Information requests, the civil rights group worries about the ability of defendants to fully challenge one of the tools involved in their prosecutions. The ACLU did not respond to a request for comment about the report. Earlier this year, Draft One underwent trials in Colorado and Louisiana and is now widely available in the U.S., an Axon spokesperson tells via email. Police in Maine and California also are interested in buying the product, a type of purchase that often requires a long lead time and substantial civic debate. For police in Fort Collins, Colo., the tool resulted in a 67 percent reduction in the time spent on report writing, which in turn frees up officers for more street duty, the spokesperson said, adding that “success stories” about the product “mostly center on how much quicker officers can complete their paperwork while maintaining quality.” The Axon spokesperson did not directly dispute any facts from the ACLU report but painted a picture of a solid, safe and supervised product. “Critical safeguards require every report to be edited, reviewed and approved by a human officer, ensuring accuracy and accountability of the information,” the spokesperson said, adding that the company asks ethical and other experts to provide feedback and testing. The spokesperson emphasized that Draft One requires officers to “review, edit and sign off on [the] accuracy” of their reports, and that use of the software leaves a digital audit trail. As well, use of the tool for now is “restricted” to minor incidents that do not include felonies and arrests, so that client agencies can get “comfortable with the tool before expanding to more complex cases.” The company’s double-blind study of the tool showed that Draft One produced equal or better reports than those written 100 percent by officers, at least when judged by such factors as completeness, neutrality, objectivity, terminology and coherence. The study included 24 experts from law enforcement and court systems. Axon’s own research also found “no statistically significant racial bias toward a particular race,” the spokesperson said. “As we look to the future, we believe that the responsible innovation of real-time operations, drones and robotics and artificial intelligence will enable public safety to observe, communicate and act like they have never done before, ultimately protecting more lives in more places,” the spokesperson said. The ACLU report comes at a sensitive, trying time for public safety. Law enforcement still faces staffing challenges and distrust from citizens over racism, brutality and associated issues in the aftermath of the . Meanwhile, Nashville recently rejected a police-backed using Axon tech, the latest example of and against relatively . No matter what happens, AI in policing — and report writing — seems unlikely to fade. One example of that comes from Missoula, Mont., where officials recently moved forward with a . "I'm pretty cautious about AI and how that might look, but we will consider it," said Missoula Police Chief Mike Colyer, according to the report. The ACLU report has the potential to shape how gov tech suppliers try to stand out in the crowded public safety tech space, where and AI is making its way to even . For instance, , an Axon competitor, all but welcomed the ACLU’s findings, even though Truleo uses AI for reports, too. CEO and co-founder Anthony Tassone says his company’s offers more safeguards than Draft One. Officers use Truleo to dictate a narrative of an incident — something they can do while driving — and the company’s technology then uses AI to “enhance” that information and come back with “suggestions.” Officers then make edits and finish the report on their own. Truleo had already positioned itself as the “ethical” alternative to Axon, and Tassone repeated that point during an interview with conducted after the release of the ACLU report. In his view, a “weapons manufacturer” — Axon sells Tasers — should not be in the business of AI-generated reports, as that can lead to conflicts of interests in the case of mishaps or fatalities. The AI could help an officer or department to basically clean up a report in favor of law enforcement. Another pitch used by Truleo is that Axon’s AI goes too far, and that body-cam transcripts can be severely unreliable. “They are asking AI to make determinations,” he said, adding that Truleo has opened its AI to “random studies” and privacy checks. “You can’t ask AI to properly attribute criminality to people. That’s an officer’s job.” The ACLU report recommends that no police department use AI to “replace the creation of a record of the officer’s subjective experience.” But the report did leave wiggle room that would seem to offer a company such as Truleo a boost during client sales meetings and city council debates about law enforcement purchases. The ACLU said that “safer and more limited” uses of AI could help with the “dull chore” of writing police reports. “For example, officers could make an audio recorded verbal narrative of what took place ... and computers could transcribe those accounts and perhaps perform some light cleanup and formatting to create an editable first draft,” the report states, adding that “like most people, [police] probably find it faster and easier to speak than to write.”A second young person is on the run from the government's trial boot camp, after one vanished while at the funeral of another participant , Oranga Tamariki senior executives have told a parliamentary committee. On Thursday it was reported that one of the young men taking part in the boot camp pilot was on the run after attending the funeral of another who had died. Those taking part in the pilot were released from the youth justice facility in Palmerston North in October, and have been in the community phase of the boot camp programme. Oranga Tamariki deputy chief executive of youth justice services and residential care Tusha Penny told a parliamentary select committee on Friday morning that two participants were actually on the run. One escaped from the tangi and another a day later, she said. Penny acknowledged the death of one of the boot camp's participants and their whānau. Speaking to MPs, Penny said the whānau of the teenager who has died was dealing with having to bury a son and brother, and that needed to be acknowledged first and foremost. "We sat here probably a year ago now and said transition is going to be tough, because it's evidenced up the wazoo and everyday people are fighting. The recidivism rates we have every week going into the youth justice residences are around 60 to 80 percent. "So I want to put that out there, because we need the reality." Penny says she was not going to give up, despite how tough it is, and everyone in the programme has had traumatic experiences. "Right now, two of the remaining nine rangatahi have absconded - one absconded from the tangi and one absconded a day later. "It's been tough, we've had two of the young people arrested on charges already, one of those people the charges were withdrawn," she said. "Do I think there will be further offending? Absolutely. "We also though have to look for the good cholestreol, because there's always some good. "We have one of our people in fulltime employment today, I say today because this is dynamic," Penny told MPs. "We have one of our young people on work experience, we have one likely to start work soon, we have six engaged in some education course." National MP Joseph Mooney, who chairs the social services committee, has worked as a youth advocate and criminal lawyer and got emotional talking to Penny about how tough it is to try and change young people's lives. Penny said the boot camps have been "incredibly politicised" but the programme was making change despite the whole thing not always "being successful". "I'm not saying this is the panacea, I'm not saying it's the answer, but I'm definitely saying what we're seeing could be an improvement for youth justice across the board with an operating model." Oranga Tamariki and Waikato police both confirmed the 15-year-old, who was granted bail on compassionate grounds to attend the funeral by the Youth Court, had absconded. Waikato police said he was wanted for arrest. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
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TORONTO, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Element Fleet Management Corp. (TSX:EFN) ("Element" or the "Company"), the largest publicly traded, pure-play automotive fleet manager in the world announces the validation of its science-based targets by the Science Based Targets initiative (SBTi), available at sciencebasedtargets.org. This milestone underscores Element’s commitment to emissions reduction, demonstrating continued leadership in sustainability within the fleet management industry. The SBTi promotes science-based greenhouse gas (GHG) reduction targets for companies, aiming to limit global temperature rise to 1.5°C above pre-industrial levels. Its certification standards have become the global benchmark for corporate climate goals aligned with the Paris Agreement. With the SBTi validation, Element commits to the following near-term science-based targets: Reduce absolute Scope 1 and 2 GHG emissions 63.70 per cent by 2034 from a 2019 base year. Reduce Scope 3 GHG emissions from use of sold products and downstream leased assets 66.40 per cent per USD value added within the same timeframe. Scopes 1 and 2 pertain to Element’s own operations. Scope 1 includes direct emissions from sources owned or controlled by a company, such as fuel for vehicles. Scope 2 includes direct emissions from purchased electricity, heat, steam and cooling to power facilities. Scope 3 encompasses all other emissions associated with a company’s activities and value chain, for example purchased goods and services, use of sold products and downstream leased assets. “As we live our Purpose to Move the world through intelligent mobility , we are working towards a future beyond the immediate horizon. This acknowledgement by the SBTi is a testament of our strategic commitment to sustainability, reinforcing our focus on accountability and transparency. It underscores our dedication to delivering lasting value for our clients, our business, our team members, and our communities,” states David Colman, Chief Legal & Sustainability Officer. “The fleet management industry has both the opportunity and obligation to be part of the solution. The SBTi validation strengthens our commitment to measurable sustainability initiatives. Our focus remains on advancing decarbonization and electrification strategies as we drive meaningful progress towards a low-carbon future”, says Sheri McGrath, VP, Sustainability at Element. A science-based approach provides Element with a clearly defined pathway to reduce its GHG emissions, contribute to global climate goals, and help to mitigate the most severe impacts of climate change. By aligning its targets with the latest climate science, Element is taking steps to strengthen the resilience of its business and contribute meaningfully to broader climate initiatives. Element notes that commitments and targets are aspirational and may be influenced by near-term global challenges including, but not limited to, the production and availability of electric vehicles, client decisions, prevalence and availability of charging infrastructure, and government support of electrification in the regions in which we operate. Element’s 2034 goals reflect its best efforts at this point in time. The Company may reassess and update its methodologies and targets, as appropriate, and may not be able to achieve its commitments and targets, including for the reasons set forth herein. For more information on the validation and Element's sustainability initiatives, please visit www.elementfleet.com/sustainability . About Element Fleet Management Element Fleet Management (TSX:EFN) is the largest publicly traded pure-play automotive fleet manager in the world, providing the full range of fleet services and solutions to a growing base of world-class clients – corporations, governments, and not-for-profits – across North America, Australia, and New Zealand. Element’s services address every aspect of clients’ fleet requirements, from vehicle acquisition, maintenance, accidents and remarketing, to integrating EVs and managing the complexity of gradual fleet electrification. Clients benefit from Element's expertise as one of the largest fleet solutions providers in its markets, offering economies of scale and insight used to reduce fleet operating costs and improve productivity and performance. For more information, visit: https://www.elementfleet.com/sustainability About the Science Based Targets initiative The Science Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). The SBTi defines and promotes best practice in science-based target setting and independently assesses companies’ targets. This press release contains certain forward-looking statements and forward-looking information regarding Element, its business and the fleet industry, which are based upon Element’s current expectations, estimates, projections, assumptions and beliefs. In some cases, words such as “plan”, “expect”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “could”, “predict”, “project”, “model”, “forecast”, “will”, “potential”, “target, “by”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur are intended to identify forward-looking statements and forward-looking information. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking statements or information. Forward-looking statements and information in this news release may include, but are not limited to, statements with respect to, among other things, the Company’s expectations regarding the fleet industry and electrification, the Company’s sustainability targets and objectives, including science based targets, Element’s and our clients’ greenhouse gas emissions, fleet electrification, and transition of client vehicles, charging access, decarbonization strategies, future climate reporting, potential climate related opportunities, diverse supplier spending, team member engagement, making a difference in the community, data governance, ethics and compliance, and other sustainability related impacts, objectives and expectations. By their nature, these statements require us to make assumptions and are subject to inherent risks and uncertainties that may be general or specific, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct and that our sustainability priorities, targets (including fleet electrification and GHG reduction targets), commitments and goals will not be achieved. As we work to advance our sustainability strategy, external factors outside of Element’s reasonable control may impact our performance and ability to achieve our goals, including government policies, legislation and regulatory actions, global supply-chain disruptions, geopolitical risk, the occurrence, continuance or intensification of public health emergencies, such as the impact of post-pandemic hybrid work arrangements, the failure of third parties to comply with their obligations to us and our affiliates or associates, our ability to implement various sustainability-related initiatives internally and with our clients under expected timeframes, the availability of comprehensive and high-quality GHG emissions data and standardization of sustainability-related measurement methodologies, the need for active and continuing participation, cooperation and collaboration from various stakeholders, deployment of new technologies and industry-specific solutions, the evolution of client behaviour, varying decarbonization efforts across economies, manufacturer timing and availability, client decisions and preferences, the need for thoughtful climate policies globally, the challenges of balancing interim emissions goals with an orderly transition, and the continuing development and evolution of regulations, guidelines, principles, and frameworks internationally and Element’s compliance thereto, which could lead to us to being subject to various legal and regulatory proceedings, the potential outcome of which could include regulatory restrictions, penalties and fines. These and other factors may cause actual results to differ materially from the expectations expressed in the forward-looking statements and may require Element to adapt its initiatives and activities or adjust its commitments, metrics, targets and goals. The forward-looking statements in this news release speak only as of the date hereof and are presented for the purpose of assisting our stakeholders and others in understanding our objectives and strategic priorities and may not be appropriate for other purposes. We do not undertake to update any forward-looking statement except as required by law. In addition, a discussion of some of the material risks affecting Element and its business appears under the heading “Risk Management” in Element’s Management Discussion and Analysis for the twelve-month period ended December 31, 2023 and the three and nine-month period ended September 30, 2024, and under the heading “Risk Factors” in Element’s Annual Information Form for the year ended December 31, 2023, as well as Element’s other filings with the Canadian securities regulatory authorities, which have been filed on SEDAR+ and can be accessed on Element’s profile on www.sedarplus.com .Fair Isaac's executive vice president sells $8.1 million in stock
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LAHAINA, Hawaii (AP) — Tyrese Hunter scored 17 of his 26 points after halftime to lead Memphis to a 99-97 overtime win against two-time defending national champion and second-ranked UConn on Monday in the first round of the Maui Invitational . Hunter shot 7 of 10 from 3-point range for the Tigers (5-0), who were 12 of 22 from beyond at the arc as a team. PJ Haggerty had 22 points and five assists, Colby Rogers had 19 points and Dain Dainja scored 14. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get updates and player profiles ahead of Friday's high school games, plus a recap Saturday with stories, photos, video Frequency: Seasonal Twice a weekGUANGZHOU, China, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Highest Performances Holdings Inc. (NASDAQ: HPH) (“HPH” or the “Company”), today announced that Mr. Youjie Kong has decided to resign from the Board as director due to personal reasons, effective from November 25, 2024. The resignation of Mr. Kong did not result from any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. The Company takes this opportunity to express its appreciation to Mr. Kong for his dedicated service to the Company. About HPH Founded in 2010 and formerly known as Puyi Inc., we have evolved with a vision to become a leading provider of intelligent technology-driven family and enterprise services. Our mission is to enhance the quality of life for families worldwide by leveraging two primary driving forces: technological intelligence and capital investments. We are dedicated to investing in high-quality enterprises with global potential, focusing on areas such as asset allocation, education and study tours, healthcare and elderly care, and family governance. We currently hold controlling interests in two leading financial service providers in China. The first is AIX Inc., a technology-driven independent financial service platform traded on the Nasdaq. The second is Puyi Fund Distribution Co., Ltd., an independent wealth management service provider. Highest Performances Holdings Inc., formerly known as Puyi Inc., was renamed on March 13, 2024 to reflect its strategic transformation. Forward-looking Statements This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When HPH uses words such as “may”, “will”, “intend”, “should”, “believe”, “expect”, “anticipate”, “project”, “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from HPH’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: HPH’s ability to obtain proceeds from the Agreement; HPH’s goals and strategies; HPH’s future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of the third-party wealth management industry in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets HPH serves and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by HPH with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in HPH’s filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov . HPH undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Highest Performances Holdings Inc.