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name
TME-SW
01698.HK
Tencent Music Entertainment Group operates online music entertainment platforms that provides music streaming, online karaoke, and live streaming services in the People’s Republic of China. It offers QQ Music, Kugou Music, and Kuwo Music that enable users to discover, enjoy, and share music in personalized ways; long-form audio content, including audiobooks, podcasts and talk shows, as well as music-oriented video content comprising music videos, live performances, and short videos; and WeSing, which enables users to sing along from its library of karaoke songs and share their performances in audio or video formats with friends. The company also delivers music-centric live streaming services primarily through the Live Streaming tab on QQ Music, Kugou Music, Kuwo Music, WeSing, Kugou Live, and Kuwo Live that provides an interactive online stage for performers and users to showcase their talent and engage with audience base; and Lazy Audio, an audio platform. In addition, it sells artist-related merchandise, such as branded apparel, posters and art prints, and accessories; other music services, such as content licensing, sales of digital albums, sales of customized artist-related merchandises, live performances and concerts, and artist management services; and music subscriptions, as well as offers advertising services across its social entertainment platforms.
380.73 B
01698.HKMarket value -Rank by Market Cap -/-

Financial Score

13/11/2025 Update
B
Movies and EntertainmentIndustry
Industry Ranking1/34
Industry medianC
Industry averageC
Score Analysis
Peer Comparison
  • Criteria
    Rating
  • Profit ScoreA
    • ROE14.78%A
    • Profit Margin34.08%A
    • Gross Margin43.51%B
  • Growth ScoreB
    • Revenue YoY12.78%B
    • Net Profit YoY78.53%A
    • Total Assets YoY22.23%A
    • Net Assets YoY29.17%A
  • Cash ScoreC
    • Cash Flow Margin293.42%C
    • OCF YoY12.78%B
  • Operating ScoreD
    • Turnover0.33D
  • Debt ScoreA
    • Gearing Ratio18.53%A

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Institutional View & Shareholder

Analyst Ratings

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    News
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    Tencent Music (Minutes): Subscription growth slightly slowed, short-term investments impact profitability

    The following are the minutes of Tencent Music's 3Q25 earnings conference call organized by Dolphin Research. For financial report interpretation, please refer to "With ByteDance's Efforts, Can Tencent Music Still Be 'Small and Beautiful'?" 1. Review of Core Financial Information: 1. Tencent Music Entertainment Group (TME) reported a 21% year-on-year increase in total revenue for the third quarter of 2025, reaching RMB 8.5 billion, marking the highest growth rate since the first quarter of 2021. This was driven by the continued growth of the music subscription business, strong performance in offline concerts, advertising services, and sales of artist-related merchandise. 2. Online music revenue increased by 27% year-on-year to RMB 7 billion...

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    US
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    -1.74%
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    ByteDance makes a push, can Tencent Music still be 'small and beautiful'?

    On November 12th, after the Hong Kong stock market closed and before the U.S. stock market opened, $Tencent Music(TME.US) $TME-SW(01698.HK) (TME.N;$TME-SW(1698.HK)) released its third-quarter financial report for 2025. Overall, the results exceeded expectations, particularly with the partial realization of the second growth curve narrative. However, there were flaws, as the net increase in subscriptions continued to slow, indirectly confirming market concerns about intensified competition before the earnings report. Currently, there remains a significant difference between the core users of Tencent Music and ByteDance (Tencent Music vs ByteDance = high-tier music essential users vs lower-tier Douyin catchy tune users)...

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    -10.69%
    US
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    The 13F report shows that Dutch pension giant Apg Asset Management NV increased its holdings in Tencent Music in the third quarter

    Wallstreetcn·
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    Wallstreetcn·
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    Strong Financial Performance and Strategic Investments Drive Buy Rating for Tencent Music

    Saiyi He from CMB International Securities maintained a Buy rating for Tencent Music Entertainment Group with a $28.00 price target, citing strong financial performance and strategic investments. The company's Q3 2025 revenue increased by 21% YoY, and non-IFRS net income rose by 33%, surpassing estimates. Growth was driven by non-subscription music businesses. Future revenue growth is expected from content investments and new monetization opportunities. Mizuho Securities also maintained a Buy rating with a $28.00 price target.

    Tip Ranks·
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    Tip Ranks·
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    -1.74%

    Top 10 HK Stock Losers (11.13)

    STARPLUS LEGEND(06683) fell 19.91%, with a trading turnover 1.2 Billion HKD, and a year-to-date rose 46.3%. TME-SW(01698) fell 10.69%, with a trading turnover 619.3 Million HKD, and a year-to-date rose 73.6%. JOHNSON ELEC H(00179) fell 10.63%, with a trading turnover 1.0 Billion HKD, and a year-to-date rose 186%.

    LB Select·
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    -19.91%
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    Posts
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    Tencent Music 3Q25 Quick Interpretation: The third-quarter report overall exceeded expectations, especially with the partial realization of the second growth curve story. However, the flaw is that the...

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