TENCENT MUSIC ENTERTAINMENT GROUP

(TME)
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Delayed Nyse  -  04:00 2022-08-12 pm EDT
4.410 USD   +0.23%
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Tencent Music Entertainment Group Renews Strategic Partnership with Time Fengjun Entertainment

06/19/2022 | 11:26pm EDT

Tencent Music Entertainment Group announced the renewal of its strategic partnership with Time Fengjun Entertainment ("TF Entertainment") to support young Chinese musicians and create a more dynamic one-stop music entertainment experience for their users. Beyond the extension of cooperation, the renewed partnership enables TME users to have instant access to music from TF Entertainment's artists 30-days before all other audio streaming platforms in China. TME has been supporting the careers of TF Entertainment musicians and helping them achieve success with robust capabilities in content creation, coupled with ample promotion resources. Artists including TFBOYS, Teens in Times and TF Family, and their music enjoy great popularity on TME's QQ Music, Kugou Music, Kuwo Music, and WeSing platforms, while TFBOYS and Teens in Times have won multiple Tencent Music Entertainment Awards (TMEA). As a leading online music and audio entertainment platform that works with the world's greatest artists, TME has expanded and renewed its partnerships with multinational music companies, including: Sony Music Entertainment, Universal Music Group, Warner Music Group, Emperor Entertainment Group, and recently Create Music, Believe, Image Music, and SM Entertainment. Due to its respected reputation across China, TME has become the audio streaming platform where many of the world's top record labels first release their new music in China. In line with TME's dual engine content-and-platform strategy, the firm will further scale and enhance its music catalog's quality and competitiveness. The goals are to create the best entertainment experience for people in China and build a thriving music entertainment ecosystem.


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Financials
Sales 2022 27 310 M 4 050 M 4 050 M
Net income 2022 2 534 M 376 M 376 M
Net cash 2022 16 645 M 2 469 M 2 469 M
P/E ratio 2022 19,8x
Yield 2022 1,68%
Capitalization 49 360 M 7 320 M 7 320 M
EV / Sales 2022 1,20x
EV / Sales 2023 0,99x
Nbr of Employees 5 966
Free-Float 46,6%
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Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 29,74 CNY
Average target price 38,34 CNY
Spread / Average Target 28,9%
EPS Revisions
Managers and Directors
Liang Zhu Chief Executive Officer & Director
Zhen Yu Xie President, Director & Chief Technology Officer
Min Hu Chief Financial Officer
Kar Shun Pang Executive Chairman
Liang Tang Independent Director
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