Tencent CEO Ma Huateng has issued an official statement responding to the inclusion of Tencent Holdings, including its gaming division Tencent Games, on the U.S. Department of Defense’s blacklist of “Chinese military companies.” The company has threatened legal action if it is not removed from the list.
On January 7, the U.S. Secretary of Defense updated the blacklist of companies allegedly connected to the Chinese military, adding Tencent along with 150 other entities. This designation can limit business opportunities with U.S. companies, even though it does not impose outright bans except for dealings with the Department of Defense. Following the news, Tencent’s stock dropped by 9.5%, hitting its lowest point since September 2024.
Ma Huateng firmly denied the allegations, stating that Tencent is “not a military company” and calling the inclusion a mistake. He emphasized that the listing does not directly impact the group’s business operations or prevent others (besides the Department of Defense) from engaging in commercial activities with Tencent, such as stock trading.
The company has initiated a review process to correct what it considers an error, though the outcome remains uncertain and could take significant time.
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