USA-PRC: DoW Adds New PRC Tech Cos. To 1260H List

Research evidence excerpt

USA-PRC: DoW Adds New PRC Tech Cos. To 1260H List

TD Securities (USA) LLC POLICY NOTE

June 9, 2026

■WRG Aerospace & Defense USA-PRC: DoW Adds New PRC Tech Cos. To

1260H List

Roman Schweizer THE TD COWEN INSIGHT

202 868 5305

War Department released its 1260H list yesterday and added a number of PRC-based tech

roman.schweizer@tdsecurities.com

companies that it believes are affiliated with the PRC military. Being named to list does

Liz Huseynov not necessarily mean specific export controls or penalties but it does increase scrutiny on

646 562 1421 operations and ventures in the USA.

liz.huseynov@tdsecurities.com

Listed cos. include: Alibaba, Baidu, BYD, CXMT, YMTC, WuXiAppTec and RobotSense. List is

here.

Bottom Line Up Front

DoW released its annual 1260H list yesterday. The list had been released in FEB but rescinded

without explanation. The release comes just several weeks after President Trump's trip to

Beijing and meetings with Xi Jinping. The list includes prominent PRC tech, internet, robotics

and biotech cos. and supports our view that the tech competition between USA-PRC will

continue despite relations between Trump & Xi.

PRC Foreign Ministry Statement

“We urge the U.S. to correct its wrongdoings and stop its groundless suppression of Chinese

companies. China will take necessary measures to firmly safeguard the legitimate and lawful

rights and interests of Chinese enterprises.”

What It Means

Designation on the list is primarily a "name and shame" measure with no immediate blanket

sanctions (unlike some export control or sanctions lists). However, it triggers several direct,

indirect, and escalating consequences that included increased scrutiny on export control

regulations and increases risk of being named to other restricted party lists or affecting CFIUS