BI-TMEG@EC2609A

LEOCH INT'L

STARGLORY HLDGS

INTELLIMARK W27

BEST FOOD HLDG

GAOYU FINANCE

EXTREME VISION

TIAN TU CAPITAL

HSC RESOURCES

EPI (HOLDINGS)

LAP KEI ENGRG

01698

UNVGY

Universal Music Group (ENXTAM:UMG) has initiated a €500 million share buyback program, indicating long-term confidence despite recent stock declines. The stock has seen a 25.17% drop over 90 days and a 32.66% decline over the past year, but a recent 7-day return of 7.57% suggests short-term momentum. Analysts suggest the stock is undervalued, with a fair value of €28.90 compared to the last close of €16.64. The company’s focus on technology investments and AI partnerships may enhance operational efficiency, though risks remain regarding monetization and reliance on top artists.

- Universal Music Group has initiated a €500 million share buyback program, indicating confidence in its long-term strategy amid a recent stock decline.  
- The company's share price has seen a 25.17% drop over 90 days, but short-term momentum has improved with a 7.57% increase following the announcement.  
- Analysts suggest the shares are undervalued, with a fair value estimate of €28.90, while the market's future growth expectations could be tempered by potential industry risks.

Simplywall

Warner Music Group - CL

Tencent Music

TME-SW

Universal Music Group N.V.

Universal Music Group (ENXTAM:UMG) Valuation Check As €500 Million Share Buyback Signals Long Term Confidence

09896

36Kr learned that most popular Chinese concept stocks strengthened in pre-market trading in the US. As of the time of writing, MNSO rose over 8%, Pony.ai and iQIYI rose over 2%, Nio and Tencent Music rose over 1%, XPeng rose 0.42%, and Alibaba rose 0.31%; Li Auto fell 0.57%, and JD.com fell 0.11%

36Kr

MNSO

iQIYI

XPENG-W

XPeng

Most popular Chinese concept stocks are strong in pre-market trading, with MNSO rising over 8%

Dolby Laboratories and Tencent Music Entertainment Group's QQ Music announced that they will introduce a new upgrade of Dolby Atmos for the QQ Music mobile app through Dolby AC-4 technology. This makes QQ Music the first mainstream music streaming platform to support this technology, enhancing the fidelity and clarity of the music experience. This upgrade will optimize the presentation of vocals, instrument sounds, and spatial elements, ensuring that the music is closer to the artist's creative intent. The Vice President of Dolby Laboratories stated that this collaboration aims to enhance audio experience quality to meet the growing demands of streaming platforms

- Dolby Laboratories and Tencent Music Entertainment Group's QQ Music announced an upgrade to introduce Dolby Atmos technology using Dolby AC-4 codec for mobile.  
- This upgrade positions QQ Music as the first mainstream music streaming platform to support the latest Dolby AC-4 technology, enhancing audio fidelity and precision while preserving artistic intent.  
- The collaboration, which began in 2022, aims to provide users with an immersive experience and set a new benchmark for music streaming quality across multiple platforms.

PingWest

Dolby Laboratories

Collaborating with QQ Music to promote music streaming experience with the new Dolby AC-4 upgrade feature

Orient Securities has maintained a Buy rating on Tencent Music Entertainment Group Class A (1698) with a price target of HK$54.61. This follows a similar Buy rating from Goldman Sachs, while J.P. Morgan downgraded the stock to a Hold on the same day.

- Orient Securities has maintained a Buy rating on Tencent Music Entertainment Group Class A, setting a price target of HK$54.61.  
- Goldman Sachs also issued a Buy rating for Tencent Music Entertainment Group Class A on March 18, 2026.  
- Conversely, J.P. Morgan downgraded the stock to a Hold on the same day, indicating differing opinions among analysts.

Tip Ranks

Orient Securities Keeps Their Buy Rating on Tencent Music Entertainment Group Class A (1698)

BETZ

ESPO

Jay Chou's latest album, "Children of the Sun," has surpassed 100 million RMB in sales since its global release on March 25, supported by Tencent Music Entertainment Group. The album features 13 tracks, including 12 new songs and a special track for fans. Tencent Music's promotional campaign included online and offline activities across 48 cities in China and international advertising in Times Square, enhancing global engagement with Chou's music. This successful launch continues to solidify Chou's enduring popularity in the Mandopop scene.

- Jay Chou's sixteenth studio album, "Children of the Sun," has surpassed 100 million RMB in sales following its global launch on March 25, 2026, through Tencent Music Entertainment Group.  
- The album features 13 tracks, including 12 new songs and an additional fan dedication, and combines various musical styles, supported by extensive online and offline promotional campaigns.  
- Tencent Music activated events across 48 cities in China and will extend its campaign internationally with prominent advertising, highlighting the growing connection between Jay Chou and his global fanbase.

prnewswire

Roundhill Sports Betting & iGaming ETF

VanEck Gaming ETF

VanEck Video Gaming and eSport ETF

Invesco Leisure & ENT ETF

00:50 ETLas ventas de "Children of the Sun" de Jay Chou han superado los 100 millones de RMB

LIEN

This week, ten dividend stocks are nearing their ex-dividend dates and are trading close to their 52-week lows. Investors must purchase these stocks before the ex-dividend dates to qualify for the upcoming payouts. The stocks include (LIEN), (NVO), (REFI), (KREF), (CCAP), (BXSL), (MSDL), (TME), (GPMT), and (BDN).

- This week, several dividend stocks are trading near their 52-week lows and are reaching their ex-dividend dates.  
- Investors must purchase these stocks before the ex-dividend dates to qualify for the upcoming payouts.  
- A list of ten stocks, including (LIEN), (NVO), and (REFI), among others, is provided for potential investment.

Blackstone

Novo Nordisk AS

Chicago Atlantic BDC

Blackstone MortgageTrust

Vanguard Real Estate ETF

Granite Point Mortgage Trust

Morgan Stanley Direct Lending Fund

Brandywine Realty Trust

Chicago Atlantic Real Estate Finance

Crescent Capital BDC

Schw Us Reit

Ex-Dividend Date Nearing for These 10 Stocks – Week of March 29, 2026

Mandopop superstar Jay Chou's 16th studio album "Children of the Sun" has surpassed 100 million RMB in sales since its worldwide premiere on March 25, exclusively on Tencent Music platforms. The album features 13 tracks, blending various musical styles, and includes fan engagement activities and exclusive digital perks. Tencent Music's extensive promotional campaign includes offline installations in 48 cities and international advertising, enhancing the album's global reach and connection with fans.

- Mandopop superstar Jay Chou's 16th studio album "Children of the Sun" premiered on March 25, generating over 100 million RMB in revenue since its pre-orders began on March 19.  
- The album features 13 tracks, including a song dedicated to his daughter, and blends various musical styles, supported by an extensive online and offline promotional campaign by Tencent Music Entertainment Group.  
- This campaign includes interactive fan activities, digital perks, and themed installations across China, with plans for international promotion in major cities like New York.

10:17 ETSales of Jay Chou's "Children of the Sun" have exceeded 100 million RMB, as Tencent Music Entertainment Group Drives Global Rollout

09999

YINN

36Kr learned that popular Chinese concept stocks showed mixed performance in pre-market trading in the US. As of the time of writing, Alibaba and JD fell over 1%, XPeng and Baidu fell nearly 1%, and NetEase fell 0.67%; Bilibili and Li Auto rose over 1%, iQIYI rose nearly 1%, and Tencent Music rose 0.42%

NTES-S

Direxion FTSE China Bull 3X

Krne Csi China Internet

KraneShares 2x Long BABA Daily ETF

NETEASE MUSIC

KraneShares 2x Long JD Daily ETF

NetEase

JD HEALTH

JD LOGISTICS

BABA 2x Long Daily ETF - GraniteShares

JD.com

Bilibili

BILIBILI-W

Baidu

JD-SW

Alibaba

BABA-W

BIDU-SW

Li Auto

LI AUTO-W

Popular Chinese concept stocks show mixed performance in pre-market trading, with JD falling over 1%

ROKU

SPOT

CFLT

Spotify Technology, Confluent, Franco-Nevada, Roku, and Tencent Music Entertainment Group are highlighted as the top streaming stocks to watch today, according to MarketBeat. These companies focus on delivering digital content and have shown high trading volumes recently. Investors typically monitor metrics like subscriber growth and average revenue per user to gauge performance. Each company operates in distinct segments, from audio streaming to data platforms and online music services, catering to various market needs.

- MarketBeat identifies Spotify Technology, Confluent, Franco-Nevada, Roku, and Tencent Music Entertainment Group as the most highly anticipated IPOs of 2026.  
- These companies focus on various aspects of streaming, from audio and video to data platforms, engaging users while managing subscription metrics essential to their valuations.  
- Recent trading volumes have highlighted their prominence in the streaming market, reflecting strong investor interest despite challenges for individual companies like Spotify.

Market Beat

Roku

Franco-Neveda

Spotify

Confluent

Streaming Stocks To Follow Today - March 23rd

SPDB analyst has maintained a Buy rating for Tencent Music Entertainment Group Class A (1698) as of March 20, with a price target of HK$58.00. The shares closed at HK$40.50. Additionally, Goldman Sachs also issued a Buy rating on March 18, while J.P. Morgan downgraded the stock to a Hold on the same day.

- SPDB analyst maintained a Buy rating on Tencent Music Entertainment Group Class A with a price target of HK$58.00, while shares closed at HK$40.50.  
- Goldman Sachs also issued a Buy rating for the company on March 18, 2026.  
- Conversely, J.P. Morgan downgraded Tencent Music Entertainment Group Class A to a Hold on the same day.

SPDB Sticks to Its Buy Rating for Tencent Music Entertainment Group Class A (1698)

Tencent Music Entertainment's shares plummeted 28.8% this week after reporting fourth-quarter earnings that exceeded revenue expectations but only met profit forecasts. Concerns arose over the company's decision to stop disclosing key performance indicators, leading to investor skepticism. Despite the sell-off, the stock is now considered undervalued, trading at 11.5 times trailing adjusted earnings. Analysts suggest that this may present a buying opportunity for value investors, although Tencent Music was not included in a list of top stock recommendations by The Motley Fool.

- Tencent Music reported fourth-quarter earnings with a revenue increase of 15.9% to $1.24 billion, meeting profit expectations but raising concerns over subscriber growth, which slowed to 13.2%.  
- The company announced it would stop disclosing key performance indicators, leading to increased investor skepticism and a significant stock sell-off of 28.8% for the week.  
- Despite these challenges, Tencent Music's stock now appears undervalued at 11.5 times trailing adjusted earnings, potentially presenting a buying opportunity for value investors.

nasdaq

Why Tencent Music Entertainment Plunged Almost 30% This Week

Tencent

Financial Analysis

After the Hong Kong close on Mar 18 (Beijing time), $TENCENT(00700.HK) released its 2025 Q3 results. Overall, the print was largely in line with no major surprises, though some line items came in slightly off expectations.Against the backdrop of the current AI transformation window, management’s guidance on this year’s investment and growth matters more than the reported quarter. This will be more critical for mid-term valuation.Specifically: 1) Games delivered and are expected to remain the core growth driver this year. The current product cycle is strong, with new titles performing and evergreen franchises supporting durability. Q4 revenue rose 21%...

TENCENT

TENCENT-R

Tencent Holdings Limited

Tencent HK SDR 10to1

Meta Platforms

TCEHY: Time to Ditch the Boomer Vibe, Turn Up the Heat on AI!---

Today’s Key News Recap

0318 | Dolphin Research Watchlist: 🐬 Macro/Industry 1) The Fed kicked off its two-day FOMC meeting on Mar. 17 local time. The market broadly expects the policy rate to stay at 3.50%–3.75%.However, sticky inflation (PPI at 2.9%) and a Middle East-driven oil spike (WTI above $100) are tightening expectations for 2026 cuts. Investors are dialing back the number of cuts priced in. If the dot plot due on the 18th indicates just one cut in 2026—or none at all...

Microsoft

Alphabet - C

Alphabet

XIAOMI-W

XIAOMI-WR

Xiaomi HK SDR 2to1

Xiaomi Corporation

MINIMAX-W

Micron Tech

Lululemon

HWORLD-S

H World

Atour

MiniMax debuts M2.7, shows a 'self-evolving' model; META trims 'metaverse' again | Daily News Recap

Conference Minutes

Below is Dolphin Research's Trans of the FY2025 earnings call for $Tencent Music(TME.US) and $TME-SW(01698.HK). For our earnings take, see 'Tencent Music: Soda Music's big push — are the easy days over?'I. Key takeaways1) Shareholder returns: announced a FY2025 cash dividend of $0.24 per ADS, with total payout approx. $368mn, a sharp increase vs. last year. The buyback program still has sizable remaining authorization and will continue subject to market conditions...

American Century Multisector Income ETF

WB-SW

Weibo

Citigroup

CureVac BV

TME (Trans): Agile amid intense competition, prioritizing shareholder returns

---

On Mar 17 (Beijing time), after the HK close and ahead of the US pre-market, $Tencent Music(TME.US) released its Q4 2025 results. Q4 was a mixed bag. The 'second curve' kept gaining traction, but an unstable user ecosystem slowed subscription revenue growth, so Dolphin Research’s overall read is cautious.1) Users kept slipping. MAU fell by 23 mn QoQ in Q4, a bit worse than typical seasonal attrition. Over a longer horizon, the trend remains down.We think the company may ramp up user acquisition spend. This could include initiatives after regulatory approval of the Ximalaya acquisition...

ByteDance

喜马拉雅控股

TME: Qishui's Blitz, Are the Good Days Over?---

TME 4Q25 First Take: Q4 was mixed. The bright spot was non-subscription music adjacencies, which sustained high growth and helped revenue and profit come in slightly above estimates. That said, user metrics were shaky and subscription growth decelerated, leaving Dolphin Research with a cautious take. 1) User ecosystem: MAUs fell by 23 mn QoQ, a larger drop than typical seasonal churn. Over a longer horizon, the trend remains down, and we would not rule out higher spend to drive acquisition. 2) Subscription growth slowed: Subscription revenue growth eased to 13% in Q4 from 16% in Q3. Net adds were 1.7 mn, a bit higher QoQ. ARPU was flat QoQ. 3) Adjacencies delivered high growth: Other music adjacencies, mainly digital albums and offline concerts, rose 41% YoY. Growth remains robust and an important contributor. 4) Cost control: GPM improved slightly by ~100 bps YoY and QoQ, reflecting economies of scale. Core OP reached RMB 2.6 bn (+26%), slightly ahead of expectations. Opex stayed stable, and we are watching S&amp;M closely as a signal of competitive posture. For Q4 specifically, we did not see a notable ramp in marketing spend. Given ongoing MAU declines and aggressive moves by rivals, we would not rule out increased promo spend to boost acquisition and slow churn. Look to management’s earnings call for the forward strategy, including whether they will stay focused or pursue fresh expansion. $Tencent Music(TME.US)

美图公司

Deep Research

Appraisal value

In the prior piece, Dolphin Research reviewed Meitu's history, product suite, and competitive landscape in depth. This follow-up focuses on Meitu's growth potential.1) Will large models eat Meitu's lunch? To evaluate its growth, we must ask how vertical platforms defend against general-purpose platforms.As seen across internet cycles, a few lucky players evolved into 'small but mighty' vertical champions. Tencent Music, Kanzhun, and even Bilibili endure thanks to distinctive attributes. Most others faded into the background, becoming stepping stones as tech giants broadened their ecosystems...

MEITU

BOSS ZHIPIN-W

Kanzhun

WHEE

Meitu: A bumpy 'small‑but‑beautiful' story — where is the bottom?

$Tencent Music(TME.US) $NETEASE MUSIC(09899.HK) These two stocks can't be bought now, the industry landscape has changed directly. Douyin is too strong.

The following are the minutes of the FY25Q3 earnings call for $TENCENT(00700.HK) compiled by Dolphin Research. For an interpretation of the earnings report, please refer to the article &#34;Tencent: Not Playing Heartbeat with Meta, Just Wanting Steady Happiness.&#34; 1. Review of Core Financial Information 1. Capital Expenditure: Operating capital expenditure: RMB 12 billion, down 18% year-on-year, mainly due to changes in the supply chain. Non-operating capital expenditure: RMB 1 billion, down 59% year-on-year. 2. Free Cash Flow: RMB 58.5 billion, roughly flat compared to the same period last year (growth in operating cash flow was offset by other factors)...

CHINA LIT

Lotus Tech

C3.AI

Lovesac

LOTUS TECHNOLOGY INC C/WTS 22/02/2029 (TO PUR COM)

Tencent (Minutes): Emphasizes AI, but Lowers Full-Year Capex Guidance

1113 ｜Dolphin Research Key Focus: 🐬 Macro/Industry 1. Trump signed a temporary federal government funding bill passed by both houses of Congress at the White House, ending the longest federal government shutdown in history that lasted 43 days. In the short term, it can restart federal services, issue back pay to employees, alleviate the impact on people's livelihood such as aviation delays and welfare interruptions, and resume the release of economic data to stabilize market expectations. However, the bill is only a temporary solution and does not address core differences such as healthcare subsidies and the remaining 9 annual appropriations, so there is still a risk of a shutdown after January 30...

BIDU ADR US

Rivian Automotive

FL2CSOPGOLD

SPDR Gold Shares

Pro Ultr Silver

iShares Silver Tr

Applied Materials

NVIDIA

Disney

OpenAI

Tesla

SMIC

Vipshops

BABA-WR

Alibaba HK SDR 5to1

BIDU-SWR

Baidu HK SDR 10to1

SMIC HK SDR 5to1

Circle

Alibaba's 'Qianwen' plans to revamp to catch up with ChatGPT; Baidu's Kunlun Chip Supernode unveiled | Today's Important News Recap

The following are the minutes of Tencent Music's 3Q25 earnings conference call organized by Dolphin Research. For financial report interpretation, please refer to &#34;With ByteDance's Efforts, Can Tencent Music Still Be 'Small and Beautiful'?&#34; 1. Review of Core Financial Information: 1. Tencent Music Entertainment Group (TME) reported a 21% year-on-year increase in total revenue for the third quarter of 2025, reaching RMB 8.5 billion, marking the highest growth rate since the first quarter of 2021. This was driven by the continued growth of the music subscription business, strong performance in offline concerts, advertising services, and sales of artist-related merchandise. 2. Online music revenue increased by 27% year-on-year to RMB 7 billion...

Serial

ISHRS St National Muni

Dave & Buster ENT

Flexshares Stoxx US ESG Select Index Fd

Dragon

Ameriprise Financial

Tencent Music (Minutes): Subscription growth slightly slowed, short-term investments impact profitability

BI-TMEG@EC2609A(27312.HK)

BI-TMEG@EC2609A Stock Performance Chart

Universal Music Group (ENXTAM:UMG) Valuation Check As €500 Million Share Buyback Signals Long Term Confidence

Most popular Chinese concept stocks are strong in pre-market trading, with MNSO rising over 8%

Collaborating with QQ Music to promote music streaming experience with the new Dolby AC-4 upgrade feature

Orient Securities Keeps Their Buy Rating on Tencent Music Entertainment Group Class A (1698)

00:50 ETLas ventas de "Children of the Sun" de Jay Chou han superado los 100 millones de RMB