The Pentagon on Tuesday added Tesla battery-maker Contemporary Amperex Technology, or CATL, and internet and gaming giant Tencent Holdings to its list of companies it says have ties to the Chinese military.

Chinese internet giant Tencent’s shares slumped sharply on Tuesday after the company was added to a Pentagon blacklist for its alleged links with the Chinese military, prompting criticism from authorities in Beijing and denial by the company.

The Defense Department has added dozens of Chinese firms to a list of companies that are prohibited from working with the Pentagon and defense industry due to their alleged ties with China’s

Following the announcement, Tencent's shares dropped by 7.8% in Hong Kong, while CATL's stock saw a 6% decline in Shenzhen.

Tencent owns Riot Games, and Supercell, and has stakes in Reddit, Snap, and Epic Games. CATL, a key supplier to Tesla Inc. TSLA, similarly rejected the designation, stating it has “never engaged ...

The Department of Defense on Monday added the battery giant CATL to its list of "Chinese military companies" operating in the United States.

Shares of tech giant Tencent, Tesla supplier Contemporary Amperex Technology and other Chinese companies fell after being labeled by the Pentagon as companies with alleged links to China's military.

The US has blacklisted Tencent Holdings Ltd. and Contemporary Amperex Technology Co. Ltd. for alleged links to the Chinese military, targeting the world’s biggest gaming publisher and top electric-vehicle battery maker in a surprise move weeks before Donald Trump takes office.

The Pentagon is banning a number of Chinese technology firms, including CATL, the world’s largest EV battery manufacturer, which provides batteries to Tesla.

The U.S. Department of Defense has designated CATL and Tencent as “Chinese military companies,” escalating trade and political tensions. The designation harms reputations, deters partnerships

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 Pentagon recently added Tesla’s battery suppliers, Contemporary Amperex Technology, and Tencent to its list of companies with ties to the Chinese military. While the designation has minimal direct business impact,