Tencent HLD ADR

One thing to note I guess is that TCEHY trades on the OTC as opposed to most other chinese companies which generally trade on the main exchanges (like the NYSE which BABA trades on). That itself doesnt carry additional risk but some brokers don't allow access to it so just something you should know.

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Other than that, there's of course delisting risk on the US side vs the HK side.

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Note that (I believe) both TCEHY and 700.HK are both under the VIE structure so in that sense for this risk, both are subjected to it equally.