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To-be Listed
Name
/
Code
Industry Offer Price Lot Size Entry Fee Closing Date
Grey Market Date
Listing Date
S.F. Holding
06936.HK
Air Freight & Logistics 32.3-36.3 200 N/A 2024/11/22 2024/11/26 2024/11/27
Jiuyuan Gene
02566.HK
Biotechnology - Medical Devices 11.48-12.56 200 N/A 2024/11/25 2024/11/27 2024/11/28
Mokingran
02585.HK
Watch & Jewellery 12-14.4 200 N/A 2024/11/26 2024/11/28 2024/11/29
Summary
We are the largest online music entertainment platform in China in terms of MAU, according to iResearch, with 604 million online music mobile MAUs and 162 million social entertainment mobile MAUs in the first quarter of 2022. We operate four major product brands—QQ Music, Kugou Music, Kuwo Music and WeSing—through which we provide online music and social entertainment services to address the diverse music entertainment needs of a massive audience in China. We also offer Lazy Audio, our dedicated long-form audio app as an effective complement to our flagship music-centric product portfolio. We derive our revenues from (i) online music services and (ii) social entertainment services and others. Revenues for online music services are generated primarily from paid music and audio through sale of subscription packages for a fixed monthly fee, whereas revenues for social entertainment services and others are generated through live streaming, online karaoke, sales of music-related merchandise and certain other services.

WHO WE ARE

Music is a universal passion. No matter who we are, where we come from, we all have our favorite songs, albums or artists. Music enriches our lives by reaching us in deeply personal ways and connecting us with each other through engaging, social and fun experiences. We are pioneering the way people enjoy online music and music-centric social entertainment services.

We offer an all-in-one online entertainment experience for people to discover, listen, sing, watch, perform and socialize around music. To bring a more diversified experience to our users, we have also expanded our platform to offer long-form audio services. We believe music and audio content can deliver experiences that are visual, immersive, interactive, socially engaging and fun.

Just as we value our users, we also respect those who create content. This is why we champion copyright protection and work relentlessly to support our content partners with broad audience outreach and valuable resources and technology. Through years of efforts, we help promote a more sustainable music entertainment industry in China. Our scale, technology, commitment to copyright protection, and ability to promote original works have made us a preferred partner for musicians and content owners.

Today, we are the largest online music entertainment platform in China in terms of MAU, according to iResearch, with 604 million online music mobile MAUs and 162 million social entertainment mobile MAUs in the first quarter of 2022. We also had China’s largest music content library as of March 31, 2022 in terms of number of tracks, according to iResearch.

WHAT WE OFFER ON OUR PLATFORM

The TME platform is an all-in-one music and audio entertainment destination that allows users to seamlessly engage with a broad range of music and audio content in many ways, including discovering, listening, singing, watching, performing and socializing. We adopt a dual engine content-and-platform strategy to constantly enrich content offerings on our platform, while empowering content creation and distribution and delivering a compelling user experience. Through our vibrant community, technologies, and visual and interactive features, we enhance our user experience, engagement and retention.

‧ Online music services, primarily our QQ Music, Kugou Music and Kuwo Music, enable users to discover, enjoy and share music in personalized ways. We provide a broad range of features for music discovery, including smart recommendations, music ranking charts, playlists, official music accounts and digital releases. We also offer comprehensive longform audio content including audiobooks, podcasts and talk shows, as well as musicoriented video content including music videos, live performances and short videos.

‧ Social entertainment services allow our users to sing, watch and socialize on our platform. We deliver online karaoke services primarily through WeSing, which enables users to sing along from our vast library of karaoke songs and share their performances either in audio or video formats with friends. We also deliver music-centric live streaming services primarily through the “Live Streaming” tab on QQ Music, Kugou Music, Kuwo Music, WeSing, Kugou Live and Kuwo Live, providing an interactive online stage for performers and users to showcase their talent and engage with a diverse audience base.

Our revenues increased from RMB25.4 billion in 2019 to RMB29.2 billion in 2020 to RMB31.2 billion in 2021, and we recorded revenues of RMB6.6 billion (US$1.0 billion) in the first quarter of 2022. We achieved a net profit of RMB4.0 billion in 2019, RMB4.2 billion in 2020, RMB3.2 billion in 2021 and RMB0.6 billion (US$0.1 billion) in first quarter of 2022.



Source: Tencent Music-SW (01698) Prospectus (IPO Date : 15/09/2022)
Listing Market MAIN
Industry Movies & Entertainment
Background Others
Major Business Area N/A
Corporate Information
Substantial Shareholders [00700] Tencent Holdings Limited (Total share: 52.46%); (Class A share: 9.05%)
Spotify Technology S.A. (Total share: 8.24%); (Class A share: 16.00%)
Directors Cussion Kar Shun Pang (Executive Chairman and Executive Director)
Zhenyu Xie (President and Chief Technology Officer and Executive Director)
Zhu Liang (Chief Executive Officer and Executive Director)
Brent Richard Irvin (Executive Director)
James Gordon Mitchell (Executive Director)
Matthew Yun Ming Cheng (Executive Director)
Adrian Yau Kee Mak (Independent Non-Executive Director)
Edith Manling Ngan (Independent Non-Executive Director)
Jeanette Kim Yum Chan (Independent Non-Executive Director)
Company Secretary
Principal Bankers Ping An Bank
Solicitors Davis Polk & Wardwell
Han Kun Law Offices
Maples and Calder (Hong Kong) LLP
Auditors PricewaterhouseCoopers
Registered Office 5th Floor, Manulife Place, 348 Kwun Tong Road, Kowloon, Hong Kong
Share Registrars Computershare Hong Kong Investor Services Ltd. [Tel: (852) 2862-8628]
Share Registrars Tel No (852) 2862-8628
Internet Address https://ir.tencentmusic.com
Email Address TME@tpg-ir.com
Tel No (646) 992-2986
Fax No
 
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