
	Year ended December 31,
	2023			2024			2025
	RMB’million			RMB’million			RMB’million
Gain on deemed disposal (note i)		-			-			2,373
Dividends from investments		15			17			173
Government grants and tax rebates (note ii)		195			90			59
Fair value change of investments		-			12			49
Net gains/(losses) in relation to equity investments		12			(50	)		8
Impairment provision for investment in associates (Note 17)		(23	)		(64	)		(82	)
Gains/(losses) on step-up acquisition arising from business combination		4			29			(6	)
Others (note iii)		27			131			58
		230			165			2,632

Note i: As at December 31, 2024, the Group held 10% equity interest in a consortium led by Tencent and the consortium held 20% equity interest in Universal Music Group(“UMG”). With the Group's ability to exercise significance influence on the consortium, the Group accounted for the investment as investments accounted for using equity method. In March 2025, the consortium completed a transfer of the UMG shares held by the consortium to its members through distribution-in-kind. Following the distribution, the Group held directly 2% equity interests in UMG and the Group designated the investment as financial assets at fair value through other comprehensive income. The gain with amount of RMB2,373 million on deemed disposal of investment accounted for using equity method was recognized during the year ended December 31, 2025.