On April 18, Reuters revealed that John Moolenaar, Chairman of the House Select Committee on Strategic Competition with China, sent a letter to JPMorgan Chase and Bank of America, urging them to discontinue their involvement in the underwriting of Chinese battery giant CATL's initial public offering (IPO) in Hong Kong. This IPO, which is anticipated to raise at least $5 billion, stands poised to become the largest listing in Hong Kong in nearly four years. In his letter, Moolenaar highlighted that CATL has been designated by the US Department of Defense as a "Chinese military-owned company," implying that participating in its IPO could entail "significant regulatory, financial, and reputational risks." CATL has previously refuted any military ties, stressing that its operations are strictly civilian-focused. To date, neither JPMorgan Chase nor Bank of America have issued a statement, and CATL has remained silent on the matter.