To The Moon

Jinwu Financial News | Barclays Development and Research Report, January 6Tencent(TCEHY) is included in the 1260H list (Chinese military company list) by the US Department of Defense, but this has no direct legal impact on US investors. Unlike the NS-CMIC list (non-SDN Chinese military-industrial complex company list) of the US Department of Treasury, US investors need to withdraw their investments within 12 months.

The bank said that Shangtang,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 listed on the Ministry of Defense list would eventually enter the Ministry of Treasury's list, but Xiaomi successfully sued the Ministry of Defense and removed it from its list, and was not listed on the Ministry of Treasury's 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. At present, Tencent's list does not force Prosus to sell Tencent's shares. At present, Tencent's ADR is $48.11 (January 7th), and Barclays has given it an "overweight" rating with a target price of $66, with a potential increase of 37.2%.