Chinese scientist who published first sequence of COVID virus protests after being evicted from lab
Shanghai, Apr 30: The first scientist to publish a sequence of the COVID-19 virus in China staged a sit-in protest outside his lab after authorities locked him out of the facility — a sign of the Beijing's continuing pressure on scientists conducting research on the coronavirus.
Zhang Yongzhen wrote in an online post Monday that he and his team had been suddenly notified they were being evicted from their lab, the latest in a series of setbacks, demotions and ousters since the virologist published the sequence in January 2020 without state approval.
When Zhang tried to go to the lab over the weekend, guards barred him from entering. In protest, he sat outside on flattened cardboard in drizzling rain, pictures from the scene posted online show. News of the protest spread widely on Chinese social media and Zhang told a colleague he slept outside the lab — but it was not clear Tuesday if he remained there.
"I won't leave, I won't quit, I am pursuing science and the truth!” he wrote in a post on Chinese social media platform Weibo that was later deleted.
In an online statement, the Shanghai Public Health Clinical Center said that Zhang's lab was being renovated and was closed for “safety reasons.” It added that it had provided Zhang's team an alternative laboratory space.
But Zhang wrote online that his team wasn't offered an alternative until after they were notified of their eviction, and that the lab offered didn't meet safety standards for conducting their research, leaving his team in limbo.
Zhang's latest difficulty reflects how China has sought to control information related to the virus: An Associated Press investigation found that the government froze meaningful domestic and international efforts to trace it from the first weeks of the outbreak. That pattern continues to this day, with labs closed, collaborations shattered, foreign scientists forced out and Chinese researchers barred from leaving the country.
When reached by phone on Tuesday, Zhang said it was “inconvenient” for him to speak, saying there were other people listening in. In an email Monday to collaborator Edward Holmes seen by AP, Zhang confirmed he was sleeping outside his lab after guards barred him from entering.
An AP reporter was blocked by a guard at an entrance to the compound housing Zhang's lab. A staff member at the National Health Commission, China's top health authority, said by phone that it was not the main department in charge and referred questions to the Shanghai government. The Shanghai government did not immediately respond to a request for comment.
Zhang's ordeal started when he and his team decoded the virus on Jan. 5, 2020, and wrote an internal notice warning Chinese authorities of its potential to spread — but did not make the sequence public. The next day, Zhang's lab was ordered temporarily shut by China's top health official, and Zhang came under pressure by Chinese authorities.
Around the time, China had reported several dozen people were being treated for a respiratory illness in the central city of Wuhan. Possible cases of the same illness had been reported in Hong Kong, South Korea and Taiwan involving recent travelers to the city.
Foreign scientists soon learned that Zhang and other Chinese scientists had deciphered the virus and called on China to release the sequence. Zhang published it on Jan. 11, 2020, despite a lack of government permission.
Sequencing a virus is key to the development of test kits, disease control measures and vaccinations. The virus eventually spread to every corner of the world, triggering a pandemic that disrupted lives and commerce, prompted widespread lockdowns and killed millions of people.
Zhang was later awarded prizes in recognition for his work.
But Zhang's publication of the sequence also prompted additional scrutiny of his lab, according to Holmes, Zhang's collaborator and a virologist at the University of Sydney. Zhang was removed from a post at the Chinese Center for Disease Control and Prevention and barred from collaborating with some of his former partners, crippling his research.
“Ever since he defied the authorities by releasing the genome sequence of the virus that causes COVID-19 there has been a campaign against him,” Holmes said. “He's been broken by this process and I'm amazed he has been able to work at all.”
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Adani touts financial strength, shows can grow without external debt
New Delhi (PTI): Billionaire Gautam Adani's conglomerate on Monday touted its financial and credit details of its portfolio companies to investors, showcasing its robust profits and cash flows that can sustain growth without reliance on external debt.
The ports-to-energy conglomerate, which has been hit by an indictment in a US court against its founder chairman Gautam Adani and two other executives for allegedly bribing Indian official to secure solar power contracts, in a presentation to the investors highlighted its consistently expanding profits and cash flows, which over a period have led to lowering dependence on debt for its growth ambitions.
Equity now accounts for almost two third of its total asset creation, a stark contrast to five years ago. In the last six months, the group has invested close to Rs 75,227 crore, against a total debt increase of only Rs 16,882 crore.
A note was also shared with the investors, along with presentations.
Outlining the group's liquidity position, the note said, "Adani Portfolio companies have sufficient liquidity to cover all debt servicing requirements for at least 12 months. As of September 30, 2024, Adani Portfolio companies had a cash of Rs 53,024 crore, which was close to 21 per cent of its total gross debt outstanding".
This amount, it said, was sufficient to cover the next 28 months of debt servicing requirement.
GROWTH WITHOUT DEBT
In the past, the group has announced plans to invest over Rs 8 lakh crore (USD 100 billion) across portfolio companies in the next ten years.
The Fund Flows from Operations (FFO) or cash profits stood at Rs 58,908 crore for the last twelve months and is growing over 30 per cent for the past five years. On the basis of this, even after assuming no growth, the group will be able to invest Rs 5.9 lakh crore only from its internal cash accruals over the next ten years, leaving very little dependency on external debt.
Further, at the portfolio level, there is very low debt gearing of 2.46x -- which means it has massive headroom for debt, according to the presentation.
Other highlights from the presentation included EBITDA (earnings before interest tax and depreciation) for the last twelve months, which it said is highly stable and hence predictable due to its infrastructure projects, which grew by 17 per cent to Rs 83,440 crore.
Also, existing annual cash flows alone can pay the entire debt in 3 years.
Gross assets/investments increased by Rs 75,227 crore, against total debt increase of only Rs 16,882 crore. Asset base has now increased to Rs 5.5 lakh crore.
Average cost of borrowing at 8.2 per cent, lowest in the last 5 years, due to upgrade in ratings across group companies, it said.
Adani Group's long-term debt from domestic banks was Rs 94,400 crore. This stood against a cash balance of Rs 53,024 crore, most of which was parked with Indian banks.
Borrowings from global banks were 27 per cent of total debt.
