Jiade Ltd

JDZGConsumer Defensive·Education & Training Services·China·Nano·NASD·Nov 11 • 4:00 PM ET

0.2103-0.0010 (-0.47%)

2026-11-12 00:08 CET

Market cap

1.15 USD m

Revenue, TTM

3.58 USD m

Net income, TTM

-1.48 USD m

Free cash flow, TTM

-0.63 USD m

EPS diluted, TTM

-13.55

P/E

Compare

Price

JDZG against its 20, 50 and 200-day averages

2050200

100.0% under the 52-week high of 1,014.98 on 13 Feb 2026. 52-week low 0.15 on 9 Nov 2026. Last 15 sessions, 4326.7% high to low

Volume 0.59× normal · the line is the 50-bar volume average

Profile

JDZG

52-week range, 0% of the way up

0.151,015

JIADE Ltd. engages in the provision of education supporting services to adult education institutions. It offers services through a wide range of software platform and auxiliary solutions. The company was founded on February 20, 2023 and is headquartered in Chengdu, China.

Employees	43
IPO	May 15, 2024
Beta	2.95
ATR, 14d	0.54
Rel volume	0.59
Short float	18.47%
Insider own	5.48%
Inst own	0.24%

Snapshot

6 groups

Valuation

Index	-
Market Cap	1.14M
Enterprise Value	0.55M
Income	-1.48M
Sales	3.58M
Book/sh	184.59
Cash/sh	0.56
Dividend Est.	-
Dividend TTM	-
Dividend Ex-Date	-
Dividend Gr. 3/5Y	- -
Payout	-
Employees	43
IPO	May 15, 2024

Ratios

P/E	-
Forward P/E	-
PEG	-
P/S	0.32
P/B	0.00
P/C	0.37
P/FCF	-
EV/EBITDA	-
EV/Sales	0.15
Quick Ratio	4.03
Current Ratio	4.03
Debt/Eq	0.14
LT Debt/Eq	0.01
Option/Short	No / Yes

Earnings

EPS (ttm)	-13.55
EPS next Y	-
EPS next Q	-
EPS this Y	-
EPS next Y	-
EPS next 5Y	-
EPS past 3/5Y	- -
Sales past 3/5Y	32.98% 46.35%
EPS Y/Y TTM	-
Sales Y/Y TTM	-
EPS Q/Q	-
Sales Q/Q	-
Earnings	-
EPS/Sales Surpr.	- -

Ownership

Insider Own	5.48%
Insider Trans	0.00%
Inst Own	0.24%
Inst Trans	4.00%
ROA	-
ROE	-
ROIC	-8.45%
Gross Margin	37.03%
Oper. Margin	-45.58%
Profit Margin	-41.19%
SMA20	-93.39%
SMA50	-94.62%
SMA200	-99.78%
Trades	-

Technical

Shs Outstand	5.43M
Shs Float	5.13M
Short Float	18.47%
Short Ratio	0.16
Short Interest	0.95M
52W High	1014.97 -99.98%
52W Low	0.15 40.20%
Volatility	77.68% 57.44%
ATR (14)	0.54
RSI (14)	20.05
Beta	2.95
Rel Volume	0.59
Avg Volume	5.99M
Volume	3,508,283

Performance

Perf Week	-30.27%
Perf Month	-96.48%
Perf Quarter	-93.81%
Perf Half Y	-98.76%
Perf YTD	-99.90%
Perf Year	-99.96%
Perf 3Y	-
Perf 5Y	-
Perf 10Y	-
Recom	-
Target Price	-
Prev Close	0.21
Price	0.21
Change %	-0.47%

Peers

Mkt cap

Ticker	Company	Mkt cap
STG	Sunlands Technology Group ADR	8.70M
YOUL	Youlife Group Inc ADR	9.75M
WAFU	Wah Fu Education & Technology Group Ltd	6.15M
AMBO	Ambow Education Holding Ltd ADR	3.41M
GSUN	Golden Sun Technology Group Ltd	1.69M
NTCL	NetClass Technology Inc	0.49M
YXT	Yxt.Com Group Holding Ltd ADR	7.44M
YAAS	Youxin Technology Ltd	11.76M
BIYA	Baiya International Group Inc	7.68M
AIXI	Xiao-I Corp ADR	1.17M

Ticker

Company

Mkt cap

STG

Sunlands Technology Group ADR

8.70M

YOUL

Youlife Group Inc ADR

9.75M

WAFU

Wah Fu Education & Technology Group Ltd

6.15M

AMBO

Ambow Education Holding Ltd ADR

3.41M

GSUN

Golden Sun Technology Group Ltd

1.69M

NTCL

NetClass Technology Inc

0.49M

YXT

Yxt.Com Group Holding Ltd ADR

7.44M

YAAS

Youxin Technology Ltd

11.76M

BIYA

Baiya International Group Inc

7.68M

AIXI

Xiao-I Corp ADR

1.17M

Held by

AUM

Ticker	Company	AUM
PGJ	Invesco Golden Dragon China ETF	AUM: 79.13M

Ticker

Company

AUM

PGJ

Invesco Golden Dragon China ETF

AUM: 79.13M

Key figures

Revenue, TTM	3.58
Net income, TTM	-1.48
EPS diluted, TTM	-13.55
EBIT, TTM	-1.63
Free cash flow, TTM	-0.63
Gross margin	37.03%
Operating margin	-45.58%
Net margin	-41.19%
Market cap	1.15
P/E	-
Sales Y/Y, TTM	-

USD millions. TTM from the statement feed.

Quarterly earnings

actual against estimate

Period	Reported	EPS act	EPS est	EPS rep	Sales act	Sales est	Analysts
No quarterly earnings.

Period

Reported

EPS act

EPS est

EPS rep

Sales act

Sales est

Analysts

No quarterly earnings.

Annual earnings

Period	EPS act	EPS est	EPS rep	Sales act	Sales est
No annual earnings.

Period

EPS act

EPS est

EPS rep

Sales act

Sales est

No annual earnings.

Estimate revisions

last 14 periods

Period	Type	Date	Estimates	Up	Down	Mean	Low	High
No estimate revisions.

Period

Type

Date

Estimates

Down

Mean

Low

High

No estimate revisions.

Estimate history

Period	2021	2022	2023	2024	2025
EPS, annual	5.514	71.013	120.395	63.464	-53.472
EPS, quarterly	18.005
Period	Q4 '22
Sales, annual	0.779	1.521	2.198	2.604	3.575
Period	2021	2022	2023	2024	2025
Sales, quarterly	0.36
Period	Q4 '22
Shares, annual	0.011	0.012	0.012	0.012	0.093
Period	2021	2022	2023	2024	2025
Shares, quarterly	0.012
Period	Q4 '22

Income statement, annual

Currency USD, millions
Metric	TTM	2025FY	2024FY	2023FY	2022FY	2021FY
Total Revenue	3.58	3.58	2.60	2.20	1.52	0.78
Cost of Goods Sold Incl. D&A	2.26	2.25	0.79	0.11	0.21	0.43
Gross Profit	1.33	1.32	1.82	2.08	1.31	0.35
Selling, General and Administrative Excl. Other	2.96	2.95	0.93	0.45	0.41	0.29
Research and Development	0.14	0.14	0.10	0.10	0.06	0.07
Other Operating Expense	0.00	0.00	0.00	0.00	0.00	0.00
Operating Income	-1.63	-1.63	0.89	1.63	0.90	0.06
Interest Expense	0.04	0.04	0.02	0.01	0.00	-
Unusual Expense	0.07	0.07	0.00	0.00	0.00	0.00
Net Income Before Taxes	-1.49	-1.49	0.85	1.57	0.93	0.06
Income Taxes	-0.03	-0.03	0.08	0.22	0.13	0.00
Consolidated Net Income	-1.47	-1.46	0.78	1.35	0.80	0.06
Net Income From Continuing Operations	-1.48	-1.47	0.78	1.34	0.79	0.06
Net Income	-1.48	-1.47	0.78	1.34	0.79	0.06
EPS (Recurring)	-15.27	-51.70	63.46	120.40	71.01	5.51
EPS (Basic, Before Extraordinaries)	-13.55	-53.47	63.46	120.39	71.01	5.51
EPS (Diluted)	-13.55	-53.47	63.46	120.39	71.01	5.51
EBITDA	-1.27	-1.27	0.93	1.66	0.94	0.08
Non-Operating Income (Expense)	0.25	0.25	-0.02	-0.06	0.03	0.00
Other After Tax Adjustments	0.00	0.00	0.00	0.00	0.00	0.00
Stock Option Compensation Expense	-	0.65	-	-	-	-
Price To Sales Ratio	5.28	1.56	7.98	-	-	-
Gross Margin	37.03	37.00	69.81	94.78	86.33	45.02
Operating Margin	-45.58	-45.60	34.07	74.30	59.09	7.77
Net Margin	-41.19	-41.23	29.90	60.90	51.92	7.87
Shares Outstanding	0.09	0.09	0.01	0.01	0.01	0.01
Market Capitalization	1.15	1.15	20.78	26.01	-	-

Income statement, quarterly

Currency USD, millions
Metric	2025S2	2025S1	2024S1
Total Revenue	2.29	1.29	1.24
Cost of Goods Sold Incl. D&A	1.40	0.86	0.07
Gross Profit	0.89	0.43	1.17
Selling, General and Administrative Excl. Other	1.91	1.05	0.27
Research and Development	0.07	0.07	0.03
Other Operating Expense	0.00	0.00	0.00
Operating Income	-1.01	-0.62	0.90
Interest Expense	0.03	0.02	0.01
Unusual Expense	-0.00	0.07	0.00
Net Income Before Taxes	-0.87	-0.63	0.86
Income Taxes	0.00	-0.03	0.13
Consolidated Net Income	-0.87	-0.60	0.72
Net Income From Continuing Operations	-0.86	-0.62	0.72
Net Income	-0.86	-0.62	0.72
EPS (Recurring)	-9.19	-4.02	64.49
EPS (Basic, Before Extraordinaries)	-9.18	-4.37	64.49
EPS (Diluted)	-9.18	-4.37	64.49
EBITDA	-0.76	-0.51	0.91
Non-Operating Income (Expense)	0.17	0.08	-0.04
Price To Sales Ratio	5.28	-	-
Gross Margin	39.03	33.48	94.71
Operating Margin	-44.24	-47.96	72.84
Net Margin	-37.48	-47.76	57.99
Shares Outstanding	0.09	0.14	0.01
Market Capitalization	1.15	89.01	20.28

Balance sheet, annual

Currency USD, millions
Metric	2025FY	2024FY	2023FY	2022FY	2021FY
Cash & Short Term Investments	3.07	0.54	1.00	0.37	0.00
Short Term Receivables	1.56	2.08	1.11	0.92	0.15
Inventories	0.00	0.00	0.00	0.00	0.00
Other Current Assets	7.91	1.63	0.00	0.04	0.05
Total Current Assets	12.55	4.25	2.11	1.34	0.20
Net Property, Plant & Equipment	0.75	0.18	0.05	0.43	0.40
Total Investments and Advances	0.00	0.00	0.00	0.00	0.00
Intangible Assets	7.24	2.32	0.28	0.03	0.00
Deferred Tax Assets	0.03	0.00	-	-	0.01
Other Assets	0.03	4.38	1.12	0.13	0.01
Total Assets	20.60	11.14	3.56	1.93	0.62
Short Term Debt Incl. Current Port. of LT Debt	2.25	0.62	0.44	0.08	0.01
Accounts Payable	0.00	0.00	0.00	0.03	0.04
Income Tax Payable	0.21	0.22	0.33	0.12	0.00
Other Current Liabilities	0.65	0.50	0.27	0.27	0.23
Total Current Liabilities	3.11	1.34	1.04	0.50	0.28
Long Term Debt	0.21	0.04	0.00	0.35	0.32
Provision for Risks Charges	0.00	0.00	0.00	0.00	0.00
Other Liabilities	0.00	0.00	0.00	0.00	0.00
Total Liabilities	3.32	1.37	1.04	0.85	0.59
Non-Equity Reserves	0.00	0.00	0.00	0.00	0.00
Preferred Stock - Carrying Value	0.00	0.00	0.00	0.00	0.00
Common Equity	17.26	9.75	2.49	1.07	0.02
Total Shareholders Equity	17.26	9.75	2.49	1.07	0.02
Accumulated Minority Interest	0.02	0.02	0.02	0.01	0.00
Total Equity	17.28	9.77	2.51	1.08	0.02
Total Liabilities & Stockholders Equity	20.60	11.14	3.56	1.93	0.62
Book Value Per Share	184.59	794.56	203.99	87.68	2.07
Tangible Book Value Per Share	107.14	605.34	181.02	84.94	2.07
Full-Time Employees	43	-	-	-	-
Price to Book Ratio	0.00	2.24	2.80	-	-
Return on Assets	-9.29	10.59	48.77	61.94	-
Return on Equity	-10.92	12.72	75.13	144.31	-
Return on Invested Capital	-8.44	7.96	53.71	55.50	18.09
Quick Ratio	4.03	3.18	2.02	2.68	0.72
Current Ratio	4.03	3.18	2.02	2.68	0.72

Cash flow, annual

Currency USD, millions
Metric	TTM	2025FY	2024FY	2023FY	2022FY	2021FY
Net Income	-1.48	-1.46	0.78	1.35	0.80	0.06
Depreciation	0.36	0.36	0.05	0.03	0.04	0.02
Other Funds (Non Cash)	0.91	0.90	0.10	0.07	0.03	0.00
Funds from Operations	-0.23	-0.23	0.92	1.45	0.87	0.08
Extraordinary Item	0.00	0.00	0.00	0.00	0.00	0.00
Changes in Working Capital	0.22	0.22	-1.63	0.02	-0.80	0.10
Income Taxes Payable	-0.07	-0.07	-0.13	0.22	0.20	0.00
Cash from Operating Activities	-0.01	-0.01	-0.70	1.46	0.07	0.19
Capital Expenditures	-7.92	-7.85	-6.63	-0.25	-0.08	-0.01
Net Assets From Acquisitions	0.00	0.00	0.00	0.00	0.00	0.00
Sale of Fixed Assets and Businesses	0.06	0.06	0.00	0.00	0.00	0.00
Purchase or Sale of Investments	0.00	0.00	0.00	0.00	0.00	0.00
Purchase of Investments	0.00	0.00	0.00	0.00	0.00	0.00
Sale Or Maturity of Investments	0.00	0.00	0.00	0.00	0.00	0.00
Other Uses	0.00	0.00	0.00	0.00	0.00	0.00
Other Sources	0.00	0.00	0.00	0.00	0.00	0.00
Cash from Investing Activities	-7.85	-7.78	-6.63	-0.25	-0.08	-0.01
Cash Dividends Paid	0.00	0.00	0.00	0.00	0.00	0.00
Change in Capital Stock	7.73	7.66	8.78	0.11	0.30	0.00
Repurchase of Common Pref Stock	0.00	0.00	0.00	0.00	0.00	0.00
Sale of Common Pref Stock	7.73	7.66	8.78	0.11	0.30	0.00
Proceedsfrom Stock Options	7.73	7.66	7.57	0.11	0.30	0.00
Issuance or Reduction of Debt, Net	2.65	1.70	0.14	0.34	0.09	0.00
Change in Long Term Debt	-	-	-0.42	-0.08	0.09	0.00
Issuance of Long Term Debt	-	-	0.00	0.00	0.10	0.00
Reduction of Long Term Debt	-	-	-0.42	-0.08	-0.01	0.00
Net Financing Active Other Cash Flow	0.65	0.64	-2.06	-1.03	0.01	-0.17
Other Financing Activities Uses	0.00	0.00	-2.06	-1.03	-0.11	-0.17
Cash from Financing Activities	10.09	10.00	6.86	-0.58	0.39	-0.17
Exchange Rate Effect	-0.00	-0.00	0.03	-	-	-
Net Change in Cash	2.23	2.21	-0.44	0.63	0.39	0.00
Free Cash Flow	-0.63	-0.62	-0.78	1.46	0.00	0.18
Preferred Dividends (Cash Flow)	-	0.00	0.00	0.00	0.00	0.00
Deferred Taxes & Investment Tax Credit	-	-0.03	-0.00	0.00	0.00	0.00

Balance sheet, quarterly

Currency USD, millions
Metric	2025S2	2025S1	2024S1
Cash & Short Term Investments	3.07	1.34	8.62
Short Term Receivables	1.56	1.59	1.43
Inventories	0.00	0.00	0.00
Other Current Assets	7.91	2.32	0.00
Total Current Assets	12.55	5.25	10.05
Net Property, Plant & Equipment	0.75	0.28	0.03
Total Investments and Advances	0.00	0.00	0.00
Intangible Assets	7.24	6.13	0.27
Deferred Tax Assets	0.03	0.03	-
Other Assets	0.03	0.21	0.00
Total Assets	20.60	11.90	10.35
Short Term Debt Incl. Current Port. of LT Debt	2.25	1.45	0.29
Accounts Payable	0.00	0.00	0.00
Income Tax Payable	0.21	0.23	0.54
Other Current Liabilities	0.65	0.75	0.21
Total Current Liabilities	3.11	2.43	1.04
Long Term Debt	0.21	0.22	0.00
Other Liabilities	0.00	0.00	0.00
Total Liabilities	3.32	2.65	1.04
Non-Equity Reserves	0.00	0.00	0.00
Preferred Stock - Carrying Value	0.00	0.00	0.00
Common Equity	17.26	9.21	9.28
Total Shareholders Equity	17.26	9.21	9.28
Accumulated Minority Interest	0.02	0.04	0.03
Total Equity	17.28	9.25	9.31
Total Liabilities & Stockholders Equity	20.60	11.90	10.35
Book Value Per Share	184.59	65.09	756.57
Tangible Book Value Per Share	107.14	21.78	734.39
Price to Book Ratio	0.00	9.67	8.14
Return on Invested Capital	-4.91	-6.55	7.72
Quick Ratio	4.03	2.16	9.65
Current Ratio	4.03	2.16	9.65

Cash flow, quarterly

Currency USD, millions
Metric	2025S2	2025S1	2024S1
Net Income	-0.88	-0.60	-
Depreciation	0.26	0.11	-
Other Funds (Non Cash)	0.71	0.20	-
Funds from Operations	0.09	-0.33	-
Extraordinary Item	0.00	0.00	-
Changes in Working Capital	0.60	-0.38	-
Income Taxes Payable	-0.04	-0.03	-
Cash from Operating Activities	0.69	-0.71	-
Capital Expenditures	-7.78	-0.13	-
Net Assets From Acquisitions	0.00	0.00	-
Sale of Fixed Assets and Businesses	0.00	0.06	-
Purchase or Sale of Investments	0.00	0.00	-
Purchase of Investments	0.00	0.00	-
Sale Or Maturity of Investments	0.00	0.00	-
Other Uses	0.00	0.00	-
Other Sources	0.00	0.00	-
Cash from Investing Activities	-7.78	-0.07	-
Cash Dividends Paid	0.00	0.00	-
Preferred Dividends (Cash Flow)	0.00	0.00	-
Change in Capital Stock	7.93	-0.21	-
Repurchase of Common Pref Stock	0.00	0.00	-
Sale of Common Pref Stock	7.93	-0.21	-
Proceedsfrom Stock Options	7.93	-0.21	-
Issuance or Reduction of Debt, Net	0.79	0.93	-
Net Financing Active Other Cash Flow	0.04	0.61	-
Other Financing Activities Uses	0.00	0.00	-
Cash from Financing Activities	8.76	1.33	-
Exchange Rate Effect	-0.00	-0.00	-
Net Change in Cash	1.68	0.55	-
Free Cash Flow	0.09	-0.71	-

Revenue breakdown

Adult Education Supporting Services	2024: 2.61M 2025: 2.32M
Customized Equipment	2025: 32.00K
Online Course Services	2025: 57.61K
Safety Technology Training Services	2025: 1.17M
China	2024: 2.61M 2025: 3.58M

Short interest

shares short against float, oldest to newest

Settlement	Of float	Shares short	Float	Avg volume
2026-10-30	18.47%	0.9M	5.1M	1.15M
2026-10-15	13.41%	0.7M	5.1M	748.08K
2026-09-30	2.00%	0.1M	5.1M	645.64K
2026-09-15	0.58%	0.0M	5.1M	421.76K
2026-08-31	0.33%	0.0M	5.1M	469.61K
2026-08-14	0.88%	0.0M	5.1M	432.67K
2026-07-31	2.68%	0.1M	5.0M	196.92K

Option chain

expiry 2026-11-11

Type	Strike	Bid	Ask	Last	IV	Open int	Volume	Delta	Theta	Vega
No option chain for this symbol.

Type

Strike

Bid

Ask

Last

Open int

Volume

Delta

Theta

Vega

No option chain for this symbol.

Latest SEC filings

Filed	Form	Description	Period	Link
2026-11-10	424B5			SEC
2026-11-09	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-06-30	SEC
2026-08-07	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-08-07	SEC
2026-07-30	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-07-30	SEC
2026-06-11	3	Initial statement of beneficial ownership of securities	2026-06-01	SEC
2026-06-11	3	Initial statement of beneficial ownership of securities	2026-06-01	SEC
2026-06-11	3	Initial statement of beneficial ownership of securities	2026-06-01	SEC
2026-06-11	3	Initial statement of beneficial ownership of securities	2026-06-01	SEC
2026-06-11	3	Initial statement of beneficial ownership of securities	2026-06-01	SEC
2026-06-11	3	Initial statement of beneficial ownership of securities	2026-06-01	SEC
2026-06-02	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-06-01	SEC
2026-06-01	424B5			SEC
2026-05-27	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-05-27	SEC
2026-05-07	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-05-07	SEC
2026-05-06	424B5			SEC
2026-05-06	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-05-06	SEC
2026-04-21	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-04-21	SEC
2026-04-10	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-04-10	SEC
2026-04-10	20-F	Registration statement under Section 12 of the Securities Exchange Act of 1934 or an annual or transition report filed under Section 13(a) or 15(d) of the Exchange Act for a foreign private issuer.	2025-12-31	SEC
2026-03-20	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-03-20	SEC
2026-03-11	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-03-11	SEC
2026-03-05	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-03-05	SEC
2026-02-20	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2026-02-20	SEC
2026-02-19	424B5			SEC
2026-01-13	EFFECT	Effectiveness filing by commission order		SEC
2026-01-09	CORRESP			SEC
2026-01-08	UPLOAD	Upload Submission		SEC
2026-01-05	F-3	Registration statement for specified transactions by certain foreign private issuers		SEC
2025-12-29	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2025-12-29	SEC
2025-12-17	6-K	Current report of foreign issuer pursuant to Rules 13a-16 and 15d-16	2025-06-30	SEC

Insider activity by month

Month	Bought	Buys	Sold	Sells
2026-11	0	0	0	0
2026-10	0	0	0	0
2026-09	0	0	0	0
2026-08	0	0	0	0
2026-07	0	0	0	0
2026-06	0	0	0	0
2026-05	0	0	0	0
2026-04	0	0	0	0
2026-03	0	0	0	0
2026-02	0	0	0	0
2026-01	0	0	0	0
2025-12	0	0	0	0
2025-11	0	0	0	0

Institutional holders

Manager	% owned
TCFG Investment Advisors, LLC	0.37%
JANE STREET GROUP, LLC	0.16%
Ground Swell Capital, LLC	0.09%
Caitong International Asset Management Co., Ltd	0.01%
Tower Research Capital LLC	0.00%
ROYAL BANK OF CANADA	0.00%
UBS Group AG	0.00%

Funds

Fund	% owned
-

Fund

% owned

OakChart. JDZG. Cached 15 minutes.

Some panels did not load: ratings, insider, news.