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TME on NYSE

Tencent Music

Logo: tencentmusic.com5

Chinese music distribution company

Tencent Music Entertainment Group (TME; Chinese: 腾讯音乐娱乐集团) is a company that develops music streaming services for the Chinese market. Tencent Music Entertainment's apps include QQ Music, KuGou, Kuwo, and WeSing, which have more than 800 million active users and 120 million paying subscribers. As of July 2016, Tencent Music Entertainment's three services held an estimated 56% market share of music streaming services in China.3 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

Jul 2016Founded1

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  • TickerTME on NYSE1
  • Industryentertainment industry1
  • HeadquartersShenzhen1
  • Websitewww.tencentmusic.com
  • Legal formlimited company1
  • Incorporated inCayman Islands6
  • Business addressUnit 3, Building D, Kexing Science Park, Kejizhongsan Avenue, Hi-Tech Park, Nanshan District, Shenzhen, F4 5180576
  • Filer categoryLarge accelerated filer6
  • LEI213800XTZK2GOHQTYK414
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressCAYMAN CORPORATE CENTRE, KY1-9008 George Town, Cayman Islands4
  • Registered withGeneral Registry, WC-2694024

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Tencent Music
Photo: Tencent Music, PD, via Wikipedia8

Tencent Music Entertainment Group (TME; Chinese: 腾讯音乐娱乐集团) is a company that develops music streaming services for the Chinese market. Tencent Music Entertainment's apps include QQ Music, KuGou, Kuwo, and WeSing, which have more than 800 million active users and 120 million paying subscribers. As of July 2016, Tencent Music Entertainment's three services held an estimated 56% market share of music streaming services in China.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in CNY, the currency the company reports in.

Key numbers, fiscal 2024

42.3%Gross margin9
30.7%Operating margin9
25.0%Net margin9
2.3%Revenue growth, 20249
10.2%Return on equity9
10.0B CNYFree cash flow9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Online Music Services brought in 81% of the revenue Tencent Music broke down this way in fiscal 2025.

  1. Online Music Services26.7B CNY1081%up 23% from 2024
  2. Social Entertainment Services And Others6.2B CNY1019%down 7% from 2024
Products and services by year
Products and services202320242025
Online Music Services17.3B CNY21.7B CNY26.7B CNY
Social Entertainment Services And Others10.4B CNY6.7B CNY6.2B CNY

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Cost of revenue58¢16.4B CNY
  • Research and development8¢2.3B CNY
  • Other costs3¢939.0M CNY
  • Interest0¢94.0M CNY
  • Income tax6¢1.6B CNY
  • Profit25¢7.1B CNY

Out of 28.4B CNY in revenue.9

Where each dollar of operating cash went, fiscal 2024

  • Capital spending3¢319.0M CNY
  • Share buybacks19¢1.9B CNY
  • Kept or used elsewhere78¢8.0B CNY

Out of 10.3B CNY of cash from operations.9

Financial statements

Revenue11121314928.4B CNY in 2024+50% since 2018
010.0B CNY20.0B CNY30.0B CNY40.0B CNY2018: 19.0B CNY19.0B CNY20182019: 25.4B CNY25.4B CNY2019+34%2020: 29.2B CNY29.2B CNY2020+15%2021: 31.2B CNY31.2B CNY2021+7%2022: 28.3B CNY28.3B CNY2022−9%2023: 27.8B CNY27.8B CNY2023−2%2024: 28.4B CNY28.4B CNY2024+2%
Gross profit11121314912.0B CNY in 2024+65% since 2018
05.0B CNY10.0B CNY15.0B CNY2018: 7.3B CNY7.3B CNY20182019: 8.7B CNY8.7B CNY2019+19%2020: 9.3B CNY9.3B CNY2020+7%2021: 9.4B CNY9.4B CNY2021+1%2022: 8.8B CNY8.8B CNY2022−7%2023: 9.8B CNY9.8B CNY2023+12%2024: 12.0B CNY12.0B CNY2024+23%
Operating income1112131498.7B CNY in 2024+327% since 2018
02.5B CNY5.0B CNY7.5B CNY10.0B CNY2018: 2.0B CNY2.0B CNY20182019: 4.6B CNY4.6B CNY2019+127%2020: 4.7B CNY4.7B CNY2020+2%2021: 3.8B CNY3.8B CNY2021−19%2022: 4.4B CNY4.4B CNY2022+17%2023: 6.1B CNY6.1B CNY2023+36%2024: 8.7B CNY8.7B CNY2024+44%
Net income1112131497.1B CNY in 2024+288% since 2018
02.0B CNY4.0B CNY6.0B CNY8.0B CNY2018: 1.8B CNY1.8B CNY20182019: 4.0B CNY4.0B CNY2019+117%2020: 4.2B CNY4.2B CNY2020+5%2021: 3.2B CNY3.2B CNY2021−23%2022: 3.8B CNY3.8B CNY2022+19%2023: 5.2B CNY5.2B CNY2023+36%2024: 7.1B CNY7.1B CNY2024+36%

Every line of the income statement as filed: the last 3 fiscal years, latest first.10

Period ending2025-12-312024-12-312023-12-31
Total revenues32.9B CNY28.4B CNY27.8B CNY
Cost of revenues-18.4B CNY-16.4B CNY-18.0B CNY
Gross profit14.5B CNY12.0B CNY9.8B CNY
Selling and marketing expenses-941.0M CNY-865.0M CNY-897.0M CNY
General and administrative expenses-3.9B CNY-3.8B CNY-4.1B CNY
Total operating expenses-4.9B CNY-4.7B CNY-5.0B CNY
Interest income1.1B CNY1.2B CNY1.1B CNY
Other gains, net2.6B CNY165.0M CNY230.0M CNY
Operating profit13.4B CNY8.7B CNY6.1B CNY
Share of net profit of investments accounted for using equit method42.0M CNY96.0M CNY127.0M CNY
Finance costs-129.0M CNY-94.0M CNY-141.0M CNY
Profit before income tax13.3B CNY8.7B CNY6.0B CNY
Income tax expense-1.9B CNY-1.6B CNY-825.0M CNY
Equity holders of the Company11.1B CNY6.6B CNY4.9B CNY
Non-controlling interests297.0M CNY465.0M CNY300.0M CNY
Profit for the year11.4B CNY7.1B CNY5.2B CNY

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Corporate structure

Tencent Music is part of a group headed by Tencent. 877 entities, 44 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Tencent Music

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G; stakes of 5% or more it reported on Schedules 13D and 13G (1 companies). Each entity in the chart links to its source.

What it owns

What Tencent Music reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net803.0M CNY9 Dec 31, 2024490.0M CNY9 Dec 31, 2023+63.9%
Operating-lease assets (leased space)295.0M CNY9 Dec 31, 2024367.0M CNY9 Dec 31, 2023−19.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents13.2B CNY9 Dec 31, 202413.6B CNY9 Dec 31, 2023−3.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill19.6B CNY9 Dec 31, 202419.5B CNY9 Dec 31, 2023+0.5%
Intangible assets, net (excluding goodwill)2.0B CNY9 Dec 31, 20242.0B CNY9 Dec 31, 2023+0.8%

Inventory

ItemLatestA year beforeChange
Inventory, total23.0M CNY9 Dec 31, 20248.0M CNY9 Dec 31, 2023+187.5%

Stakes and holdings (Wikidata)

  • QQ Music

Things Wikidata records the company as owning, with the share when stated.1

The story

Tencent Music Entertainment was established in July 2016 with Tencent's purchase of China Music Corporation to strengthen its music offerings. On July 4, 2018, Sony/ATV Music Publishing acquired an equity stake in Tencent Music Entertainment. In October 2018, the firm filed for IPOs of around $2 billion in the United States.

In December 2018, the company announced an IPO with the total value of shares around $1.23 billion, which includes 82 million ADS and 164 million regular shares priced around $13 - $15.

On January 30, 2019, SM Entertainment, the largest entertainment agency of South Korea entered into strategic partnership agreement with China's Tencent Music Entertainment that included music distribution and marketing in the Chinese market.

In June 2020, the Government of India banned QQ Music with 58 other Chinese origin apps citing data and privacy issues. The border tensions in 2020 between India and China might have also played a role in the ban.

As of 2023, 16.47% of Tencent Music Entertainment class A ordinary shares are owned by Spotify.

On May 27, 2025, Hybe Corporation announced it would sell all of its shares in SM Entertainment to the company.

On June 10, 2025, it was announced Tencent Music Entertainment would buy Ximalaya.

From Wikipedia’s article on Tencent Music Entertainment, shared under CC BY-SA 4.0.7

Leadership

Who has led Tencent Music, and when. Pick a name to see everywhere that person has worked.

Chair

  1. Kar Shun Cussion Pang2026–now
20202025
Board members and other officers (6)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorAdrian Yau Kee Mak named Jun 1, 202623
  • DirectorJames Gordon Mitchell named Jun 1, 202623
  • Chief Financial OfficerMin Hu named Jun 1, 202623
  • Chief Executive OfficerZhu Liang named Jun 1, 202623

Products and brands

  • KuGou
  • QQ Music

Listed on Wikidata.1

Subsidiaries and ownership

Owners

  • Shenzhen Qianhai Daizheng Music Culture Co., Ltd.

Subsidiaries

  • Guangxi Qingse Venture Capital Co., Ltd.
  • Liquid State

Also owns

  • QQ Music

Parent company (GLEIF)

From Wikidata.1 Ownership links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); each one cites its LEI record.

Timeline

  1. Sep 3, 2019Parent Directly consolidated by Tencent4
  2. Dec 2018Went public Listed on NYSE1
  3. Jul 2016Founded Founded1

Calendar

Coming up

  1. Nov 17, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.20 a share, on Nov 12, 2025.24

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

136 filings to the SEC since October 2021: 5 annual reports, 11 insider forms, 7 large holders, 1 private raises, 112 other. The latest 20:

  1. Oct 13, 20266-K EDGAR
  2. Sep 30, 20264 EDGAR
  3. Sep 11, 20266-K EDGAR
  4. Sep 11, 20266-K EDGAR
  5. Sep 4, 2026424B2 424(B)(2) EDGAR
  6. Sep 4, 20266-K EDGAR
  7. Sep 3, 20266-K EDGAR
  8. Sep 3, 2026FWP EDGAR
  9. Sep 1, 20266-K EDGAR
  10. Sep 1, 2026424B2 424(B)(2) EDGAR
  11. Sep 1, 2026F-3ASR FORM F-3 EDGAR
  12. Sep 1, 20266-K EDGAR
  13. Aug 14, 2026SCHEDULE 13G/A EDGAR
  14. Aug 11, 20266-K EDGAR
  15. Jul 14, 20266-K FORM 6K EDGAR
  16. Jun 30, 20266-K EDGAR
  17. Jun 1, 20266-K EDGAR
  18. Jun 1, 2026D EDGAR
  19. May 20, 20266-K EDGAR
  20. May 18, 20266-K FORM 6K EDGAR

The 136 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Stakes it holds

Tencent Music has told the SEC it owns more than 5% of 1 company, latest first (Schedules 13D and 13G).

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$20.2M 2026–2026
Money received by yearMoney received by year, 2026–2026: $20.2M in all. Private raises (Form D) $20.2M.$0$10M$20M$30M2026 · Private raises (Form D): $20.2M2026
Figures by year
YearPrivate raises (Form D)Total
2026$20.2M$20.2M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. May 18, 2026Raised $20.2 million in a private offering of equity23 Form D: 1 investor so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Schroder Investment Management Group45,630,307$381.0M0.3%−31,199,421
BlackRock, Inc.32,782,645$273.7M0.0%+1,190,003
Invesco Ltd.29,279,641$244.5M0.0%+6,877,022
Krane Funds Advisors LLC22,543,908$188.2M6.7%+4,659,757
Overlook Investments LP19,007,171$158.5M100.0%No change
ARGA Investment Management, LP18,186,510$151.9M3.9%New
Vanguard Capital Management LLC16,078,193$134.3M0.0%+401,926
Jpmorgan Chase & Co12,458,083$105.3M0.0%−5,746,331
Morgan Stanley11,178,583$93.3M0.0%+3,062,495
D. E. Shaw & Co., Inc.10,325,869$86.2M0.1%+3,752,962
State Street Corp9,343,979$78.0M0.0%−226,094
Baillie Gifford & Co8,632,095$72.1M0.1%−1,103,819
Voloridge Investment Management, LLC7,328,394$61.2M0.3%+1,666,488
Himalaya Capital Management LLC6,590,836$55.0M1.5%No change
Renaissance Technologies LLC6,456,844$53.9M0.1%−113,500
Mawer Investment Management Ltd.6,202,845$51.8M0.4%−1,011,904
Marshall Wace, Llp6,041,331$50.4M0.0%+2,584,361
Geode Capital Management, LLC5,988,857$49.8M0.0%+2,439,415
Norges Bank5,837,956$48.7M0.0%New
Bnp Paribas Financial Markets5,567,989$46.5M0.0%+1,366,372
Massachusetts Financial Services Co /ma/5,358,422$44.9M0.0%−792,592
Sei Investments Co5,211,435$43.5M0.0%+1,230,615
Allspring Global Investments Holdings, LLC4,917,380$42.6M0.1%+671,017
UBS Group AG4,464,039$37.3M0.0%+806,602
Cape Ann Asset Management Ltd4,426,136$37.0M8.5%New

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Apr 8, 2025Gilbert Ray Cisneros, Jr.Democratic, HouseSale$1,001 - $15,000+83.2%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Tencent Music is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARTencent Music Entertainment Group2
  • CIK0001744676
  • Filer statusLarge accelerated filer not an emerging growth company; not a shell company30
  • Incorporated inCayman Islands30
  • Fiscal year endsDecember 312
  • Industry code (SIC)4832 Radio Broadcasting Stations2
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance2
  • Business addressUnit 3, Building D, Kexing Science Park, Kejizhongsan Avenue, Hi-Tech Park, Nanshan District, Shenzhen, F4 5180572
  • Phone86 755 860133882
  • Shares outstanding3,147,809,000 shares as of Dec 31, 202530
  • AuditorPricewaterhouseCoopers Zhong Tian LLP, Shenzhen, the People’s Republic of China PCAOB ID 1424; it also attests to the company’s internal control over financial reporting30
  • On EDGAR sinceJul 6, 20182
  • Filings244 in all: 6-K (136), SC 13G/A (24), 144 (13), SC 13G (12), 3 (10), 20-F (8), CORRESP (6), UPLOAD (6)2
    All 25 form types

    424B2 (4), DRSLTR (3), F-3ASR (3), FWP (3), DRS/A (2), F-1/A (2), S-8 (2), 4 (1), 424B3 (1), 424B4 (1), 8-A12B (1), CERT (1), D (1), DRS (1), EFFECT (1), F-1 (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (20-F) Apr 17, 2026

Securities registered for trading

ClassSymbolExchange
American depositary shares, each ADS representsTMEThe New York Stock Exchange
Class A ordinary shares, par value US$0.000083 per share1698

From the cover page of the 20-F filed Apr 17, 2026 (Section 12(b) of the Exchange Act).30

Sources

The numbers on this page point here. Each one links to the record it came from.

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    Company websiteTencent Music logo
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