The US Department of Defense has added Tencent Holdings (HKG:0700) to blacklisted companies, citing its alleged links to the Chinese military.
The updated list, published on Tuesday in the Federal Register, also includes Contemporary Amperex Technology (SHE:300750), China Telecom (SHA:601728, HKG:0728) and China United Network Communications Group or China Unicom (HKG:0762, SHA:600050), among others.
Tencent has denied having links to the Chinese military. A Tencent spokesperson told Bloomberg: "We are not a military company or supplier."
"Unlike sanctions or export controls, this listing has no impact on our business. We will nonetheless work with the Department of Defense to address any misunderstanding."
Shares of Tencent fell nearly 6% Tuesday morning in Hong Kong.
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