[Brokerage Focus] Barclays gave Tencent (TCEHY) an "overweight" rating and was included in the 1260H list by the United States without direct legal consequences

金吾财讯01-09

Jinwu Financial News Barclays Research Report, January 6Tencent(TCEHY) is included in the 1260H List (Chinese Military Company List) by the U.S. Department of Defense, but this has no direct legal impact on U.S. investors. Unlike the U.S. Treasury Department's NS-CMIC List (Non-SDN Chinese Military-Industrial Complex Company List) Differently, U.S. investors of companies included in the latter need to withdraw their funds within 12 months.

The bank said that SenseTime,SMIC、China Mobile、China Telecom、China UnicomAnd other companies listed on the Hong Kong Stock Exchange. Tencent responded that it was wrong to be included. It was not a military company or supplier, its business was not affected, and it would communicate with the Ministry of National Defense to eliminate misunderstandings. Looking back at history, most companies that were first included in the Ministry of Defense list will eventually enter the Ministry of Finance list. However, Xiaomi successfully sued the Ministry of Defense and was removed from its list, and was not included in the Ministry of Finance list. The bank continued that Prosus holds about 25% of Tencent's shares and has two seats on the board of directors. It is listed in the Netherlands, and its major shareholder Naspers is listed in South Africa. The current list of Tencent does not force Prosus to sell Tencent's shares. At present, Tencent's ADR is US $48.11 (January 7), and Barclays gave it an "overweight" rating with a target price of US $66, with a potential increase of 37.2%.

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Unlike the U.S. Treasury Department's NS-CMIC List (Non-SDN Chinese Military-Industrial Complex Company List) Differently, U.S. investors of companies included in the latter need to withdraw their funds within 12 months.</p><p>The bank said that SenseTime,<a href=\"https://laohu8.com/S/688981\">SMIC</a>、<a href=\"https://laohu8.com/S/CHL\">China Mobile</a>、<a href=\"https://laohu8.com/S/CHA\">China Telecom</a>、<a href=\"https://laohu8.com/S/600050\">China Unicom</a>And other companies listed on the Hong Kong Stock Exchange. Tencent responded that it was wrong to be included. It was not a military company or supplier, its business was not affected, and it would communicate with the Ministry of National Defense to eliminate misunderstandings. Looking back at history, most companies that were first included in the Ministry of Defense list will eventually enter the Ministry of Finance list. 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Unlike the U.S. Treasury Department's NS-CMIC List (Non-SDN Chinese Military-Industrial Complex Company List) Differently, U.S. investors of companies included in the latter need to withdraw their funds within 12 months.</p><p>The bank said that SenseTime,<a href=\"https://laohu8.com/S/688981\">SMIC</a>、<a href=\"https://laohu8.com/S/CHL\">China Mobile</a>、<a href=\"https://laohu8.com/S/CHA\">China Telecom</a>、<a href=\"https://laohu8.com/S/600050\">China Unicom</a>And other companies listed on the Hong Kong Stock Exchange. Tencent responded that it was wrong to be included. It was not a military company or supplier, its business was not affected, and it would communicate with the Ministry of National Defense to eliminate misunderstandings. Looking back at history, most companies that were first included in the Ministry of Defense list will eventually enter the Ministry of Finance list. 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