06:43 AM EDT, 05/05/2025 (MT Newswires) -- Two US Congressional committees have asked the SEC to delist Alibaba ( BABA ) , JD.com ( JD ) , and other Chinese companies they claim are connected to the country's military and pose a threat to national security.

According to a letter sent to SEC Chairman Paul Atkins, House China Committee Chair John Moolenaar and Senate Aging Committee Chair Rick Scott requested action against 25 listed Chinese firms.

The letter pointed to companies such as Baidu ( BIDU ) , Weibo ( WB ) , Pony AI (PONY), and Hesai ( HSAI ) as examples of firms allegedly advancing Chinese state objectives with the help of US investor funds.

The lawmakers argued that China's military-civil integration policies and legal structure obscure the level of state control and increased financial risk for American shareholders.

They urged the SEC to use its enforcement tools under the Holding Foreign Companies Accountable Act to stop trading or force delisting for non-compliant companies.

Other firms mentioned include Tencent Music (TME) and Daqo New Energy ( DQ ) , saying these are part of a broader group of nearly 300 Chinese businesses currently trading in the US.

The Chinese companies mentioned did not immediately respond to MT Newswires' request for comment.

Shares of Tencent Music were down more than 1.2%, Hesai Group ( HSAI ) dropped 2.3%, XPeng ( XPEV ) fell by over 1%, WeRide ( WRD ) was up around 4%, PDD Holdings ( PDD ) was down roughly 3.7%, Full Truck Alliance ( YMM ) fell by 3.8%, and Pony AI (PONY) shares rose by over 2.2% in recent Monday premarket activity.