Tencent Music (TME)

• Market cap: $20.5B
• 1 day: -0.49%
• 5 days: -10.92%
• 1 month: -4.03%
• 3 months: 0.66%
• 6 months: 24.62%
• Year to date: 7.33%
• 1 year: 14.08%
• 5 years: 7.71%
• 10 years: -13.21%
• Sector: Communication Services
• Industry: Radio Broadcasting Stations

About: Tencent Music is the largest online music service provider in China. It was founded in 2016 with the business combination of QQ Music (founded in 2005), Kuwo Music (founded in 2005) and Kugou Music (founded in 2004) streaming platforms. Tencent is the largest shareholder of TME with over 50% shares and over 90% voting rights held. TME also provides social entertainment services, including music live audio/video broadcasts and online concert services through the three platforms mentioned above, and online karaoke through an independent platform WeSing.

Employees: 5,185

Fund manager confidence

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

166% more call options, than puts

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

0.2% more ownership

Funds ownership: 26.48% [Q3] → 26.68% (+0.2%) [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: $5.48B [Q3] → $5.2B (-$280M) [Q4]

7% less funds holding

Funds holding: 311 [Q3] → 289 (-22) [Q4]

23% less repeat investments, than reductions

Existing positions increased: 89 | Existing positions reduced: 115

28% less first-time investments, than exits

New positions opened: 46 | Existing positions closed: 64

Research analyst outlook

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

• Low target: $13 7% upside
• Avg. target: $13 7% upside
• High target: $13 7% upside

1 analyst rating

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

Morgan Stanley Alex Poon 57% 1-year accuracy 4 / 7 met price target

7% upside $13

Overweight Upgraded

21 Jan 2025