Tencent Music (TME)

• Market cap: $25.2B
• 1 day: -3.71%
• 5 days: 13.37%
• 1 month: 27.91%
• 3 months: 20.21%
• 6 months: 47.79%
• Year to date: 44.52%
• 1 year: 6.51%
• 5 years: 36.79%
• 10 years: 16.86%
• Sector: Communication Services
• Industry: Internet Content & Information

About: Tencent Music is the largest online music streaming platform in China, established in 2016 through the merger of QQ Music, Kuwo Music, and Kugou Music. Tencent, its largest shareholder, holds over 50% of the shares and more than 90% of the voting rights. Beyond streaming services, Tencent Music generates revenue through a diverse range of offerings, including podcasts, livestreaming, concerts, and karaoke.

Employees: 5,353

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

166% more call options, than puts

Call options by funds: $55.2M | Put options by funds: $20.7M

0.32% more ownership

Funds ownership: 26.36% [Q3] → 26.68% (+0.32%) [Q4]

0% more funds holding in top 10

Funds holding in top 10: 9 [Q3] → 9 (+0) [Q4]

5% less capital invested

Capital invested by funds: $5.46B [Q3] → $5.2B (-$256M) [Q4]

6% less funds holding

Funds holding: 310 [Q3] → 290 (-20) [Q4]

23% less repeat investments, than reductions

Existing positions increased: 89 | Existing positions reduced: 115

27% less first-time investments, than exits

New positions opened: 47 | Existing positions closed: 64

Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

• Low target: $17 4% upside
• Avg. target: $17 4% upside
• High target: $17 4% upside

1 analyst rating

• positive: 1 100%
• neutral: 0 0%
• negative: 0 0%

Mizuho Wei Fang 75% 1-year accuracy 3 / 4 met price target

4% upside $17

Outperform Maintained

19 Mar 2025