Wechat scanning code QR code < / P > < p > is used to share with friends and circles of friends < / P > < p > Cailian news agency, December 13. Shangtang group announced in the Hong Kong stock exchange that the global offering and listing will be delayed, and the company is expected to publish a supplementary prospectus. The revised supplementary prospectus and supplementary prospectus will contain the updated listing schedule Application procedures and other relevant information relating to the Hong Kong offer of shares. The company is still committed to completing the global offering and listing as soon as possible. All application money will be returned to all applicants without interest < p > Review: < / P > < p > < / P > < p > Shangtang responded that it was "blackmailed" by the United States: the accusation was groundless; Originally planned to be listed in Hong Kong on Friday < / P > < p > last Saturday, Shangtang made a formal response to the inclusion of the US Treasury Department as a "military related enterprise": < / P > < p > just last Tuesday, Shangtang officially announced its IPO listing plan and will officially sell 1.5 billion shares on the Hong Kong stock exchange, The net proceeds amounted to HK $5.655 billion (equivalent to RMB 4.619 billion). < / P > < p > this is expected to be the largest listing in Hong Kong in several months. < / P > < p > it is just a day after the US Treasury Department announced that Shangtang will be blacklisted. < / P > < p > Shangtang plans to be officially listed on Friday < / P > < p > the US Treasury Department issued a sanctions announcement on the afternoon of December 10 local time, including Shangtang group. < / P > < p > this The issuance of the ban seems to be targeted at different time points < p > Shangtang Group officially announced its IPO plan on the 7th day before, and raised funds from 9:00 a.m. to 12:00 p.m. on the 10th. It is expected to be officially listed on the 17th, that is, Friday < p > Shangtang's complete response < / P > < p > on December 10, 2021 local time, the US Treasury announced that Shangtang would be added to the blacklist. We strongly oppose this decision and the relevant allegations. We believe that the decision and the relevant allegations are groundless and reflect a fundamental misunderstanding of our company. The development of science and technology should not be affected by geopolitics < p > Shangtang is a leading AI software company committed to developing sustainable, responsible and ethical AI technology and applications. We strictly abide by the laws and regulations of relevant countries and regions in all aspects. In addition, Shangtang ethics committee absorbs internal and external expert members to formulate and supervise the implementation of strict ethical standards for the use of artificial intelligence technology, so that artificial intelligence technology can be properly applied. At the same time, Shangtang has extensively cooperated with third-party institutions and international organizations to formulate a series of ethical governance principles for the sustainable development of artificial intelligence, so as to promote the sustainable development of artificial intelligence technology with a responsible attitude < p > < / P > < p > full of the desire to "make people's life better with technology", a group of artificial intelligence scientists and practitioners founded Shangtang. We will unswervingly continue to practice the mission of "adhering to originality and letting AI lead human progress", and fully protect the rights and interests of the company and relevant stakeholders < p > related reading < / P > < p > < / P > < p > < / P > < p > < / P > < p > Shangtang was listed in the "list of military industrial complex enterprises" by the United States. How to fight back < p > [text / observer Liu Qian] on December 10 local time, the U.S. Department of Finance issued a statement to include China Shangtang Technology Co., Ltd. in the so-called "list of military industrial complex enterprises" and implement investment restrictions. < / P > < p > many foreign media said that this is another round of suppression by the United States against China's cutting-edge technology. < / P > < p > "list of military industrial complex enterprises" It is a relatively new sanctions tool concocted by the United States. At the end of Trump's term of office, it was used against Xiaomi, but it was stopped by a U.S. judge < p > on the occasion of Shangtang technology's IPO in Hong Kong, the Biden government regained the "big stick" left by trump and aimed at the Chinese AI unicorn < p > Yang Jie, senior partner and compliance legal expert of Huiye law firm, told observer.com that the US Treasury's sanctions may indeed have an impact on the future financing, valuation and commercial activities of Shangtang technology < p > "but it mainly depends on whether Shangtang technology is tough enough". Yang Jie analyzed that when China's "blocking law" system has taken shape, the company can use the measures for blocking the improper extraterritorial application of foreign laws and measures issued by the Ministry of Commerce to fight back < p > the official twitter of the U.S. Treasury Department forwarded the "sanctions statement" on the official website of the Treasury Department. The screenshot of twitter < / P > < p > Shangtang technology, which was sanctioned this time, is the largest artificial intelligence "unicorn" in China. Not long ago, on December 7, the company just opened its IPO and plans to hang up its listing in Hong Kong stocks on the morning of December 17 < p > however, the Financial Times quoted informed sources on the 9th as saying that the US government plans to prohibit us investment in the company and hinder its public offering plan. According to the IPO prospectus of Shangtang technology, its investors include Silver Lake Capital and Qualcomm < p > on the 10th, the US Treasury Department indeed issued a "sanctions" statement < p > The Wall Street Journal then analyzed that the ban on American capital investor Tang technology shows that the Biden government is expanding its crackdown on Chinese technology companies < p > screenshot of the Wall Street Journal < / P > < p > Liu Pengyu, spokesman of the Chinese Embassy in the United States, condemned the United States on the same day, saying that it seriously interfered in China's internal affairs, seriously violated the basic norms of international relations, and would also seriously damage China US relations. Liu Pengyu urged the US side to withdraw the "sanctions" decision as soon as possible < p > what is the "list of military industrial complex enterprises" < p > Yang Jie, a compliance legal expert at Huiye law firm, told observer.com that the so-called "list of military industrial complex enterprises" presented by the U.S. government this time is different from the "list of entities" we are familiar with in the past < p > Yang Jie said that the "list of military industrial complex enterprises" is a relatively new sanctions tool. It first appeared at the end of Trump's term of office. At that time, he authorized the US Department of defense to take the lead in foreign sanctions. The US Department of defense subsequently announced that nine Chinese enterprises such as Xiaomi group and COMAC were included in the "list" on January 14, 2021, It has caused great fluctuations in Xiaomi's share price < p > later, three Chinese enterprises such as Xiaomi group and Luolan technology went to the United States to sue, and the U.S. Department of justice decided to remove Xiaomi and other enterprises from the "list" < p > Yang Jie said that the victory of Xiaomi and other enterprises does not mean that the U.S. government should give up this "weapon" of sanctions. The Biden government found that since the Ministry of defense is not as experienced in foreign sanctions as the Ministry of Finance and the Ministry of Commerce, the "list of military enterprises" previously operated by trump instructed the Ministry of defense has many defects in procedures. The Biden administration decided to fill the loopholes and directly transferred the power to formulate the list to the U.S. Treasury Department < p > in this way, the U.S. Treasury Department has an additional "military industrial complex enterprise" in addition to the traditional primary and secondary sanctionsThe power of "single" sanctions. The difference between the consequences of the sanctions and the primary sanctions is that it prohibits Americans from investing in stocks, bonds, etc. publicly issued by the sanctioned enterprises, but does not restrict Americans from conducting all transactions with the enterprises < p > in addition, it does not prohibit the export of specific U.S. goods, technologies and services to the enterprise like the list of the Ministry of Commerce < p > "list" has three impacts on Shangtang technology < / P > < p > nevertheless, Shangtang's inclusion in the "list of military industrial complex enterprises" may still face three impacts < p > according to Yang Jie's analysis, first of all, being listed by the U.S. Treasury Department may "dissuade" investors who directly buy soup < p > as early as 2017, Qualcomm injected tens of millions of dollars of strategic investment into Shangtang; In April 2018, Shangtang technology's round C financing was led by Alibaba group, followed by Singapore sovereign funds Temasek, Suning and other investment institutions and strategic partners, A total of US $600 million (about RMB 3.821 billion) was raised. < / P > < p > the main purpose of these investors must be to obtain a return on investment. Shangtang has now been listed in the "list" sanctions and is certainly unable to list in the United States, even if it goes to Hong Kong for public offering (IPO), American investors are also unable to trade their shares, which will affect the investment logic of Shangtang. < / P > < p > on November 27, 2020, Shangtang technology Nebula AI Park, world 5g conference, Guangzhou, Guangdong. Figure from visual China < / P > < p > Second, although Shangtang technology is only listed in the "list of military industrial complex enterprises" by the Ministry of finance However, it does not rule out the subsequent escalation of sanctions, and market players will have to consider the possibility of being included in the "entity list" of the U.S. Department of Commerce. Once so, other enterprises cannot cooperate with Shangtang on some items and technologies involved in the "entity list" sanctions of the U.S. Department of Commerce. At that time, some technical cooperation between Qualcomm and Shangtang may be affected < p > finally, due to the "deterrence" of US sanctions on other market subjects, some enterprises may "over comply" for self-protection and cut off relevant economic and trade exchanges with Shangtang, putting them in a disadvantageous position in the market < p > Yang Jie pointed out that this "deterrence" is actually the real power of the United States to wield the sanctions stick for many years. In practice, it is not even ruled out that some enterprises may add some terms to the cooperation contract, agreeing that in case the United States issues follow-up sanctions in the future, they can suspend relevant agreements with Shangtang without liability for breach of contract. For Shangtang, this means that the commercial cost it will pay will increase in future foreign negotiations or striving for business opportunities < p > in fact, this is not the first time that Shangtang technology has been sanctioned by the United States. As early as 2019, a Beijing subsidiary of Shangtang technology was included in the "entity list" by the U.S. Department of Commerce. Being added to the entity list means that it will face export control. Without the permission of the U.S. government, specific goods, technologies and services shall not be provided to the enterprises on the list. Also included in the list of entities are AI enterprises such as Dahua Technology, Hikvision, iFLYTEK and Kuangshi technology < p > at that time, Shangtang Technology issued a document saying that it strongly opposed the inclusion of Shangtang technology in the list of entities by the U.S. Department of Commerce, and called on the U.S. government to review it again. Shangtang technology said: "we strictly abide by the laws and regulations of relevant countries and regions. At the same time, we formulate and implement strict ethical standards for the use of artificial intelligence technology, so that artificial intelligence technology can be correctly applied and promote the development of artificial intelligence technology with the most responsible attitude." < p > Yang Jie pointed out that at that time, the subsidiaries of Shangtang technology were included in the "entity list", which theoretically did not affect the normal business of the parent company, but it also had an invisible deterrent to other market subjects. This time, the other party adopted a strategy of adding weight layer by layer to include Shangtang technology in the "military industrial complex enterprise" list < p > how should Shangtang technology deal with it < p > in the face of the bullying "long arm jurisdiction" of the United States, Shangtang technology is not helpless < p > January 2021, The Ministry of Commerce of China officially promulgated and implemented the measures for blocking the improper extraterritorial application of foreign laws and measures (hereinafter referred to as the blocking law), which provides a legal basis for opposing the improper extraterritorial application of foreign laws and measures from harming the legitimate rights and interests of Chinese citizens and enterprises. < / P > < p > Yang Jie pointed out that if Shangtang technology really encounters problems in China in the future, some enterprises will adopt "one size fits all" It can invoke the blocking law to request the Ministry of Commerce to investigate the relevant enterprises and correct their misconduct < p > for example, Article 5 of the blocking law points out that Chinese citizens and legal persons should take the initiative to report to the Ministry of Commerce in case of interference by foreign laws and measures < p > Article 7 of the blocking law points out that if there is interference of foreign laws and measures after evaluation, the Ministry of Commerce may issue injunctions such as denial of recognition, and Chinese citizens and legal persons may also bring a lawsuit to the people's court for compensation < p > the key to the problem lies in whether Shangtang technology itself is "tough" and whether it has the hard strength of science and technology. Yang Jie pointed out that because American enterprises do not cooperate with Shangtang, there is no price, which itself is a behavior that may lose the Chinese market < p > Xiong Jie, senior researcher of Sichuan Institute of quality development and digital transformation expert, pointed out to observer.com that at present, the West may have some stock advantages in the field of artificial intelligence. Five years ago, the United States was relatively advanced in artificial intelligence algorithms. Now, the importance of algorithms in the field of artificial intelligence is decreasing, and China has a large amount of data, Even if the algorithm is not so excellent, it can feed a good model. The main cooperation point between Qualcomm and Shangtang technology is "enriching 5g mobile experience with AI", which is the scene advantage brought by the first large-scale application of 5g in the Chinese market < p > since this year, the United States has repeatedly used the so-called "entity list" to suppress China's cutting-edge technology industries. In April, the United States included seven Chinese supercomputer entities in the "list". Foreign Ministry spokesman Zhao Lijian responded that the US government has repeatedly generalized the concept of national security, abused national power, abused the "entity list" and maliciously suppressed Chinese high-tech enterprises by any means in order to maintain its scientific and technological monopoly and hegemonic position and curb China's development. China is firmly opposed to this. In response to the relevant measures taken by the United States, China will take necessary measures to resolutely safeguard the legitimate rights and interests of Chinese enterprises