MB-TMEG@EC2607A

Citi Sees TME Q4 2025 Earnings Meeting Expectations

JYP Entertainment Establishes Joint Venture ONECEAD with TME and CJ E&M

Yuanbao AI to Launch Public Beta with Free Premium Content Features

CLSA: TME's stock price over-sold, investment value present

Nomura Upgrades Tencent Music to Buy but Cuts Price Target

Tencent Music Launches AI Music Creation Tool VEMUS

Morgan Stanley Downgrades TME's Target Price

Tencent Music and China Aviation Media Reach In-Flight Entertainment Content Partnership

Nomura Report States TME Maintains Leadership in Chinese Online Music Market

China Music Copyright Association Signs Strategic Copyright Cooperation Agreement with Tencent Music

Tencent Music Introduces AutoMQ to Reduce Kafka's Operation Cost and Complexity

CITIC Securities Maintains Buy Rating for Tencent Music A Shares with Target Price

Huatai Securities Maintains Buy Rating on Tencent Music's Class A Shares

Morgan Stanley Reiterates Buy Rating on Tencent Music with a Target Price of HKD 107.25

Citibank Maintains Buy Rating on Tencent Music Entertainment Group

CCB International Maintains Overweight Rating on Tencent Music

Barclays Raises Target Price for Tencent Music to $28

Benchmark Downgrades TME Target Price to $25

CLSA Reiterates Overweight Ratings for NetEase Cloud Music and Tencent Music

HSBC 上调 TME revenue forecasts but lowers target price

CCOE

STARCOIN GROUP

ASIAPAC FIN INV

WELIFE TECH

DRINDA

MAINLAND HOLD

RMH HOLDINGS

RUICHANG INTL

ROYAL DELUXE

CH INNOVATION

01913

520920

159740

01698

00HSI

06181

36Kr learned that the Hang Seng Index opened up 0.25%, and the Hang Seng Technology Index rose 0.15%; the consumer and media sectors led the gains, with LAOPU GOLD and TME-SW rising over 3%, and PRADA rising over 2%; the semiconductor and coal sectors saw the largest declines, with Zhaoyi Innovation falling over 4%, and Aisino and Lattice Semiconductor dropping over 2%

36Kr

PRADA

Tianhong Hang Seng TECH ETF(QDII)

Dacheng Hang Seng Technology ETF(QDII)

Hang Seng TECH ETF I

China Southern Hang Seng ETF

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

ISHARESHSTECH

TME-SW

Hang Seng Index

LAOPU GOLD

CSOP HS TECH

ChinaAMC Hang Seng Technology ETF(QDII)

The Hang Seng Index opened up 0.25%, and the Hang Seng Technology Index rose 0.15%

STECH

00020

02015

09868

The Hang Seng Index opened up 0.25%, and the Hang Seng TECH Index rose 0.15%. SenseTime increased by over 4%, Tencent Music rose by over 3%, and Trip.com, XPeng, and Li Auto all rose by over 1%

Wallstreetcn

Hang Seng TECH Index

Tencent Music

SENSETIME-W

LI AUTO-W

XPENG-W

TCTZF

Keystone Investors Pte Ltd has fully exited its stake in Tencent Music Entertainment Group (TME), which is pivoting from virtual gifting to music subscriptions in China's paid streaming market. This shift raises questions about TME's ability to grow subscribers and manage costs amid competition. The company plans to release its Q4 2025 and full-year results in March 2026, which will be crucial for investors. Despite concerns over rising content costs and regulation, TME's revenue is projected to reach CN¥45.8 billion by 2028, with a fair value estimate of $26.84, indicating an 82% upside from its current price.

- Keystone Investors Pte Ltd has completely exited its position in Tencent Music Entertainment Group while the company shifts from virtual gifting to subscription revenue in the growing Chinese streaming market.  
- This transition, alongside the departure of a major shareholder, highlights Tencent Music's need to grow its subscriber base and manage content costs amid increasing competition.  
- The upcoming Q4 2025 results, expected in March 2026, will provide insights into Tencent Music's progress in acquiring paid users and adjusting to rising content expenses.

Simplywall

Tencent Holdings Limited

TENCENT

Tencent

What Tencent Music Entertainment Group (TME)'s Major Shareholder Exit and Subscription Pivot Means For Shareholders

TOUR

INFY

Asian equities traded in the US saw American depositary receipts decline by 0.3% to 2,981.58 on the S&P Asia 50 ADR Index. Notable gainers included Canaan (CAN) up 6.5% and Tuniu (TOUR) up 5.3%. Decliners included The9 (NCTY) down 3.6% and Tencent Music (TME) down 3.5%. From South Asia, Infosys (INFY) rose 1.6%, while Sea (SE) fell 3.5%.

- Asian equities in the US dipped 0.3% to 2,981.58 on the S&P Asia 50 ADR Index.  
- Notable gainers included Canaan and Tuniu from North Asia, while South Asia's Infosys also posted a modest increase.  
- The declines were led by The9 and Tencent Music in North Asia, and Sea and Sify Technologies in South Asia.

fidelity

Tuniu

Infosys

Canaan

Asian Equities Traded in the US as American Depositary Receipts Edge Lower in Wednesday Trading

Hong Kong stocks fell sharply, dropping 489 points (1.8%) to 26,604, reversing a previous rally. This decline followed a significant drop on Wall Street due to renewed U.S. trade policy uncertainty after President Trump's new tariffs. The tech sector fell over 2%, and local jobless rates reached a three-year high of 3.9%. Despite this, a rebound in the Shanghai Composite limited losses. Notable decliners included Tencent Music (-4.3%) and Laopu Gold (-3.9%). Investors are awaiting key economic data releases this week.

Trading Economics

Hong Kong Stocks Drop Sharply

00268

The Hang Seng Tech Index fell 2% intraday, Kingdee International dropped over 8%, and Tencent Music fell over 4%

KINGDEE INT'L

UNVGY

159855

517770

516620

516190

Virgin Music Group (VMG) has completed its acquisition of Downtown Music Holdings LLC, marking a significant milestone in providing solutions for independent artists and rights holders. Pieter van Rijn, previously CEO of Downtown, has been appointed as VMG's Chief Operating Officer. Downtown's founder, Justin Kalifowitz, is stepping down, while Andrew Bergman transitions to a senior advisory role. The acquisition aims to enhance services and global reach for the independent community, preserving the strengths of both companies while unlocking new growth opportunities.

- Virgin Music Group (VMG) has completed its acquisition of Downtown Music Holdings, marking a milestone in providing solutions for independent artists and rights holders.  
- Pieter van Rijn has been appointed Chief Operating Officer of VMG, previously serving as CEO of Downtown, where he will oversee global operations and strategic integration.  
- The acquisition aims to enhance resources and services for independent entrepreneurs while preserving the strengths of both companies.

prnewswire

Universal Music Group N.V.

Invesco Leisure & ENT ETF

Yinhua CSI Movies Theme ETF

Warner Music Group - CL

AXA SPDB CSI Hugangshen Game and Culture Media ETF

Guotai CSI Movies Theme ETF

ChinaAMC CSI Cultural Entertainment Media ETF

10:18 ETVIRGIN MUSIC GROUP COMPLETES ACQUISITION OF DOWNTOWN

02513

00100

00390

02050

06160

06618

09888

01347

01880

KNOWLEDGE ATLAS(02513) rose 42.72%, with a trading turnover 3.2 Billion HKD, and a year-to-date rose 523.9%. MINIMAX-WP(00100) rose 14.52%, with a trading turnover 3.5 Billion HKD, and a year-to-date rose 487.9%. JD HEALTH(06618) fell 6.27%, with a trading turnover 341.2 Million HKD, and a year-to-date rose 2.4%. BIDU-SW(09888) fell 6.25%, with a trading turnover 2.5 Billion HKD, and a year-to-date fell 1.9%.

- The Hang Seng Index fell by 1.1%, with a year-to-date increase of 3.1%, while the Hang Seng Tech Index decreased by 2.91% and is down 5.5% year-to-date.  
- Notable stocks include Zhizhi (02513), which rose by 42.72% with a turnover of 3.24 billion HKD, and MINIMAX-WP (00100), which gained 14.52% with a turnover of 3.53 billion HKD.  
- Conversely, JD Health (06618) and Baidu-SW (09888) declined by 6.27% and 6.25%, respectively, with year-to-date performances of 2.4% and -1.9%.

Top Gainers & Losers

KNOWLEDGE ATLAS

MINIMAX-WP

CHINA RAILWAY

SANHUA

BEONE MEDICINES

JD HEALTH

BIDU-SW

HUA HONG SEMI

CTG DUTY-FREE

Top 5 HK Stock Gainers/Losers (>100B) (2.20)

.HXC

688303

The NASDAQ Golden Dragon China Index initially closed down 0.1%. Among popular Chinese concept stocks, Tencent Music initially closed down 3.2%, Daqo Energy fell 2.6%, Kingsoft Cloud and PONY-W both fell over 2%, GDS dropped 1.9%, while Huazhu rose 2.9% and Trip.com increased by 3%

NASDAQ Golden Dragon China Index

Daqo Energy

PONY-W

Trip.com

TRIP.COM-S

GDS-SW

Kingsoft Cloud

iShares MSCI China

Roundhill China Dragons ETF

Invesco Golden Dragon China

A bedding company, Cathay Home Inc, has abandoned its application for a federal "Swift Home" trademark after Taylor Swift's company opposed it, claiming the logo closely resembles Swift's trademarked signature. Cathay's attorney stated the company decided not to pursue the registration as it was not essential to their business. Swift's filing argued that the proposed trademark would mislead consumers into thinking she endorsed Cathay's products. Cathay previously had a coexistence agreement with Swift for another trademark, but did not respond to her opposition in this case.

- A bedding company, Cathay Home Inc, has abandoned its application for a federal “Swift Home” trademark after Taylor Swift's company raised concerns about consumer confusion regarding the trademark resembling Swift’s signature.  
- Swift's company argued that the logo might mislead consumers into believing she endorsed Cathay's products, as she owns trademarks related to her name on similar goods.  
- The abandonment of the application was not yet reflected in the U.S. Patent and Trademark Office’s records, and there was no immediate comment from Swift's representatives.

Reuters

'Swift Home' trademark abandoned after Taylor Swift opposition

03986

00992

02899

02378

01208

03993

KNOWLEDGE ATLAS(02513) rose 20.65%, with a trading turnover 2.4 Billion HKD, and a year-to-date rose 317.4%. MINIMAX-WP(00100) rose 15.65%, with a trading turnover 1.9 Billion HKD, and a year-to-date rose 312.1%. TME-SW(01698) fell 9.23%, with a trading turnover 247.1 Million HKD, and a year-to-date fell 14.5%. ZIJIN MINING(02899) fell 7.64%, with a trading turnover 4.1 Billion HKD, and a year-to-date rose 16.6%.

GIGADEVICE

LENOVO GROUP

ZIJIN MINING

CMOC

Top 5 HK Stock Gainers/Losers (>100B) (2.13)

00975

06600

06088

02720

00023

03858

02865

06869

01258

MONGOL MINING(00975) fell 17.66%, with a trading turnover 303.5 Million HKD, and a year-to-date rose 11.5%. ONEROBOTICS(06600) fell 13.69%, with a trading turnover 110.9 Million HKD, and a year-to-date rose 111%. FIT HON TENG(06088) fell 12.4%, with a trading turnover 506.7 Million HKD, and a year-to-date rose 11.3%.

MONGOL MINING

ONEROBOTICS

FIT HON TENG

RIDGE OUTDOOR

BANK OF E ASIA

JIAXIN INTL RES

YOFC

CHINFMINING

Top 10 HK Stock Losers (2.13)

WXXWY

02269

Hong Kong stocks fell 1.7% to 26,588, marking a second consecutive session of losses due to Wall Street's decline amid AI disruption concerns. China's new home prices dropped 3.3% year-on-year in January, the largest decrease in seven months, impacting market sentiment. All sectors declined, particularly financials, consumer names, and tech. Notable declines included Tencent Music (-9.2%) and Wuxi Biologics (-4.2%). Despite these losses, reports of delayed U.S. tech security measures provided some support. The market showed little change for the week, with trading paused for the Lunar New Year holiday.

- Hong Kong stocks fell 446 points, or 1.7%, to 26,588, influenced by a decline on Wall Street amid AI disruption concerns.  
- China's new home prices decreased by 3.3% year-on-year in January, the largest drop in seven months, impacting property market stability and investor sentiment.  
- Key stocks such as Tencent Music and Wuxi Biologics experienced significant losses, while reports of delayed U.S. tech security measures provided some support ahead of the upcoming U.S.-China summit.

WuXi Biologics

WUXI BIO

Hong Kong Shares Under Pressure, Weekly Performance Muted

03088

BABA

03032

09626

BABX

KBAB

BIDU

BILI

Tencent Music fell over 6%, Bilibili and Baidu Group fell over 3%, and Alibaba fell nearly 3%. Risk warning and disclaimer: The market has risks, and investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at one's own risk

CAM HS TECH

Alibaba

HSTECH ETF

BILIBILI-W

Huaan Hang Seng Technology ETF(QDII)

GX HS TECH

BABA 2x Long Daily ETF - GraniteShares

KraneShares 2x Long BABA Daily ETF

Baidu

Bilibili

BABA-W

The Hang Seng Index opened down 1.45%, and the Hang Seng TECH Index fell 1.59%

美图公司

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

MB-TMEG@EC2607A(23499.HK)

The Hang Seng Index opened up 0.25%, and the Hang Seng Technology Index rose 0.15%

The Hang Seng Index opened up 0.25%, and the Hang Seng TECH Index rose 0.15%. SenseTime increased by over 4%, Tencent Music rose by over 3%, and Trip.com, XPeng, and Li Auto all rose by over 1%

What Tencent Music Entertainment Group (TME)'s Major Shareholder Exit and Subscription Pivot Means For Shareholders

Asian Equities Traded in the US as American Depositary Receipts Edge Lower in Wednesday Trading

Hong Kong Stocks Drop Sharply