LogInThe company continues to insist it was added to the list by mistake.
Tencent CEO Ma Huateng has issued an official statement in response to the United States Department of Defense adding Tencent Holdings – including its games publishing division Tencent Games – to the list of "Chinese military companies," proclaiming that, if such a need arises, they are ready to take the matter to court unless they are not removed from the "CMC List."
Tencent Games
In case you missed it, on January 7, the US Secretary of Defense released an updated Notice of Chinese Military Companies, officially designating Tencent as a "Chinese military company" along with more than 150 other entities. As news of Tencent's inclusion spread, the company's stock price quickly dropped by about 9.5%, reaching its lowest level since September 2024.
Responding to the debacle, Huateng reaffirmed that Tencent "is neither a Chinese military company nor a military-civil fusion contributor to the Chinese defense industrial base" and believes the "inclusion in the CMC List is a mistake." Moreover, the CEO added that being on the list "does not affect the business of the Group" and "will not prohibit any persons (other than the Department of Defense) from business dealings with [Tencent], including transacting in the securities of the company," which, if Tencent truly has no ties to the Chinese army, raises questions about the US DoD's reasoning for including the company on the list.
"The Company intends to initiate a Reconsideration Process to correct this mistake," says the statement. "During the process, it will engage in discussions with the U.S. Department of Defense to resolve any misunderstanding, and if necessary, will undertake legal proceedings to remove the Company from the CMC List. The Company will make further announcement(s) as and when appropriate."
Read the full statement here and learn more about what hides behind the "Chinese military company" designation over here. Don't forget to join our 80 Level Talent platform and our new Discord server, follow us on Instagram, Twitter, LinkedIn, Telegram, TikTok, and Threads, where we share breakdowns, the latest news, awesome artworks, and more.