Event Content: The United States recently added Tencent Holdings Co., Ltd. to its list of Chinese military enterprises, accusing it of supporting China's "military-civilian integration" strategy. This move attracted market attention, causing Tencent's stock price in the US stock market to fall by nearly 8%. The inclusion on the list does not include specific sanctions, but it may have a potential impact on Tencent's cooperation with US companies and the transactions of US investors. Tencent responded in a post-market announcement on January 7, denying any connection with the Chinese military and stating that it would initiate a review process to correct the error. Meanwhile, the list of Chinese military enterprises will not prohibit companies and investors other than the Ministry of National Defense from conducting business dealings with Tencent...
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First Shanghai Securities: The US addition of Tencent to the list of Chinese military enterprises has no fundamental impact on its business; we maintain our buy rating.
第一上海证券2025-01-08
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