China’s largest public company by market capitalization spent the equivalent of about $193 million to buy back 3.93 million shares on Tuesday.

The United States has labeled additional Chinese tech and social media firms as Beijing military companies, including multimedia firm Tencent and battery maker Contemporary Amperex Technology, better known as CATL.

Chinese web giant Tencent was added to a U.S. list of military-linked firms, spooking investors and triggering as much as a 7% plunge in its Hong Kong-listed shares.