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TENCENT MUSIC ENTERTAINMENT GROUP

(TME)
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Tencent Music Entertainment : to Hold Annual General Meeting on December 17, 2021 - Form 6-K

10/22/2021 | 08:54am EST

Tencent Music Entertainment Group to Hold Annual General Meeting on December 17, 2021

SHENZHEN, China, Oct. 22, 2021 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music", "TME", or the "Company") (NYSE: TME), the leading online music and audio entertainment platform in China, today announced that it will hold its annual general meeting of shareholders (the "AGM") at the Hong Kong Club Building, 8th Floor, 3A Chater Road, Central, Hong Kong on December 17, 2021 at 10:00 a.m. - 11:00 a.m. (Hong Kong Time). No proposal will be submitted for shareholder approval at the AGM. Instead, the AGM will serve as an open forum for shareholders and beneficial owners of the Company's American Depositary Shares ("ADSs") to discuss Company affairs with management.

The Board of Directors of the Company has fixed the close of business on November 8, 2021 (Eastern Standard Time) as the record date (the "Record Date") for determining the shareholders entitled to receive notice of, and to attend, the AGM or any adjournment or postponement thereof.

Holders of record of the Company's Class A, or Class B ordinary shares, par value US$0.000083 per share, at the close of business on the Record Date are entitled to attend the AGM and any adjournment or postponement thereof in person. Holders of the Company's ADSs are welcome to attend the AGM in person.

Shareholders and ADS holders may access the Company's 2020 annual report on the Company's investor relations website at https://ir.tencentmusic.com as well as the SEC's website at http://www.sec.gov. Shareholders and ADS holders may also obtain a hard copy of the Company's 2020 annual report containing the audited consolidated financial statements, free of charge, by sending an email to ir@tencentmusic.com.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME) is the leading online music and audio entertainment platform in China, operating the country's highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. Tencent Music's mission is to use technology to elevate the role of music in people's lives by enabling them to create, enjoy, share and interact with music. Tencent Music's platform comprises online music, online audio, online karaoke, music-centric live streaming and online concertservices, enabling music fans to discover, listen, sing, watch, perform and socialize around music. For more information, please visit ir.tencentmusic.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact

Tencent Music Entertainment Group

ir@tencentmusic.com
+86 (755) 8601-3388 ext. 818415

SOURCE Tencent Music Entertainment Group

Disclaimer

Tencent Music Entertainment Group published this content on 22 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 October 2021 12:53:05 UTC.


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Financials
Sales 2021 31 564 M 4 951 M 4 951 M
Net income 2021 3 112 M 488 M 488 M
Net cash 2021 16 220 M 2 544 M 2 544 M
P/E ratio 2021 21,0x
Yield 2021 -
Capitalization 65 289 M 10 240 M 10 240 M
EV / Sales 2021 1,55x
EV / Sales 2022 1,38x
Nbr of Employees 4 769
Free-Float 29,9%
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 38,57 CNY
Average target price 65,25 CNY
Spread / Average Target 69,2%
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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 Chairman
Liang Tang Independent Director
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