The Department of Defense accused Tencent and EV battery giant CATL of having ties to China's military. Tencent calls the decision "clearly a mistake."
The move comes amid ongoing disputes between Chinese video game companies and smartphone brands over app-store commission rates.
The US-sanctioned Chinese company hopes to have 100,000 apps in its self-developed mobile operating system this year.
Tencent has announced its gaming restrictions for minors in China during the 2025 winter break, allowing only 15 hours of gameplay over 32 days. In
Tencent executed its largest share buyback since 2006, acquiring HK$1.5 billion worth of shares to counter the fallout from a US blacklist.
The US Department of Defense's decision to add Tencent to its Entity List may significantly impact its flagship messaging app, WeChat, especially the international version. This escalation also adds fresh uncertainty to Tencent's relationship with Apple,
Tencent's strong social media and fintech segments, coupled with a positive gross profit trend, underline favorable business trends. See why TCEHY stock is a Buy.
The US Defense Department has added Chinese tech companies Tencent, a social media and gaming giant, and CATL, the world’s largest battery maker, to a list of firms that it alleges work with China’s military.
It was almost a year before a handful of Chinese AI chatbots received government approval for public release. Some questioned whether China’s stance on censorship might hobble the country’s AI ambitions.
The US government's move to add Tencent Holdings, China's most valuable company, to its list of Chinese military firms has raised concerns about further bifurcation in the technology spheres of the world's two largest economies.
Asian equities were mixed but mostly lower overnight as Pakistan and Thailand outperformed and Mainland China and Singapore underperformed. US markets were closed yesterday to commemorate the passing of former president Jimmy Carter.