Tencent Holdings (HKG:0700) is contesting its inclusion on the US Department of Defense's Chinese Military Companies (CMC) List, denying any ties to the Chinese military.
In a Tuesday statement to the Hong Kong Exchange, Tencent said it is neither a Chinese military organization nor a military-civil fusion contributor to the Chinese defense industrial base.
The Shenzhen-headquartered tech giant, which owns the social media app WeChat and develops mobile games, insists its listing is a "mistake" and will pursue a reconsideration process.
The company will engage with the DoD to resolve the "misunderstanding" and is prepared to take legal action if necessary.
Tencent also emphasized the distinction between the CMC List and more severe US sanctions lists, clarifying that its inclusion does not prohibit other US entities from doing business with it.
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