Tencent Music Entertainment Group American Depositary Shares, each representing two - TME STOCK NEWS

Tencent Music Entertainment Group (TME) has partnered with Billboard to promote Chinese music globally. The collaboration, named the 'Chinese Music Gravity Project,' aims to highlight the impact of Chinese artists through engaging content and features. TME will leverage its platforms, including QQ Music and Kugou Music, to share Billboard's authoritative charts and music news. This partnership marks a step forward in enhancing international exposure for Chinese music and supporting local artists' global reach.

Tencent Music Entertainment Group (TME) reported Q2 2022 results with a net profit of RMB892 million (US$133 million), an 8.3% decrease year-over-year. Total revenues fell 13.8% to RMB6.91 billion (US$1.03 billion), despite a 17.6% increase in subscription revenue, reaching RMB2.11 billion (US$315 million). The number of paying users grew to 82.7 million, up 24.9% year-over-year. TME's cash balance stood at RMB25.80 billion (US$3.85 billion). The company is on track to complete its US$1 billion share buyback program by year-end.

Tencent Music Entertainment Group (TME) will release its unaudited financial results for Q2 2022 on August 15, 2022, post-U.S. market close. A conference call will follow at 8:00 PM ET for discussion of the results, with access available via multiple international dialing options. The replay of the call will be accessible until August 22, 2022. TME is China's leading online music and audio platform, featuring popular music apps like QQ Music and Kugou Music, aiming to enrich people's lives through music.

Tencent Music Entertainment Group (TME) has launched TME Business Intelligence for Artists, enabling music labels and artists to access real-time data on musical performance and industry trends. This platform updates data 150 times daily, offering modules for data overview, song performance, and digital album analysis. TME BI integrates insights from the TME Research Institute, fostering business growth and enhancing content creation efficiency. The service aligns with TME’s dual engine strategy, focusing on technology innovation to empower content creators and improve the Chinese music industry's development.

Tencent Music Entertainment Group (TME) announced the launch of the TME Producers Alliance, the first producer alliance in China's music industry, aimed at enhancing high-quality music production. This initiative integrates resources from production to distribution, providing a professional content system and financial incentives for over 90 talented producers from China and beyond. The alliance, featuring award-winning producers, seeks to address common challenges in the industry and promote original Chinese music while supporting producers' artistic and commercial growth.

Tencent Music Entertainment Group (TME) has renewed its strategic partnership with Time Fengjun Entertainment (TF Entertainment) to support young Chinese musicians. This renewal allows TME users to access music from TF artists 30 days before other platforms. TME has successfully promoted TF artists like TFBOYS and Teens in Times, who are popular on TME's various platforms including QQ Music and Kugou Music. The company continues to expand partnerships with major international music labels, enhancing its music catalog to create a dynamic entertainment experience in China.

Tencent Music Entertainment Group (TME) announced the resignation of Martin Chi Ping Lau from its Board of Directors, effective immediately. Lau, a board member since 2016, will continue to advise the company as President of Tencent, the majority shareholder. TME welcomed Matthew Yun Ming Cheng as a new director, who currently serves as corporate VP of Tencent. Cheng's extensive experience in financial management is expected to contribute positively to TME's strategic vision. TME is a leading online music platform in China, operating popular apps like QQ Music and Kugou Music.

Tencent Music Entertainment Group (TME) has introduced the first digital commemorative trophy in China's music industry, recognizing individuals and groups fostering progress in music. The inaugural awards celebrate contributions like Leslie Cheung's remastered concert video and the TMELAND users for building a virtual music space. TME reported a 17.8% year-over-year growth in subscription revenue, achieving over 80 million paying users. This initiative underscores TME's commitment to enhancing China's music ecosystem while promoting social value and driving long-term success.

Tencent Music Entertainment Group (TME) has partnered with the Embassy of France in China to launch a collaborative music album titled Mosaïque. This album features 11 singles by 21 emerging artists from China and France, and is available on TME platforms as well as global streaming services like Spotify and Apple Music. The initiative aims to foster cultural exchange and enhance the global reach of Chinese music. TME continues to support indie musicians, providing them with opportunities for international exposure and increased income through various services.