v3.26.1
General information and organization (Tables)
12 Months Ended
Dec. 31, 2025
General Information Organization And Basis Of Preparation [Abstract]  
Summary of Significant Subsidiaries, VIEs, and Subsidiaries of VIEs

As at December 31, 2025, the Company’s significant subsidiaries, VIEs, and subsidiaries of VIEs were as follows:

 

 

Place of
incorporation

 

Date of
Incorporation
or acquisition

 

Equity
Interest
Held
(direct or
indirect)

 

 

Principal activities

Subsidiaries

 

 

 

 

 

 

 

 

 

Tencent Music Entertainment Hong
Kong Limited (“TME Hong Kong”)

 

Hong Kong

 

July 2016*

 

 

100

%

 

Investment holding and music related services

Tencent Music (Beijing) Co., Ltd
(“Beijing Tencent Music”)

 

PRC

 

July 2016*

 

 

100

%

 

Technical support and consulting
services

Yeelion Online Network Technology
(Beijing) Co., Ltd. (“Yeelion
Online”)

 

PRC

 

July 2016*

 

 

100

%

 

Technical support and consulting
services

Tencent Music Entertainment
Technology (Shenzhen) Co., Ltd.
(“TME Tech Shenzhen”)

 

PRC

 

February 2017

 

 

100

%

 

Technical support and consulting
services

Guangzhou Shiyinlian Software
Technology Co., Ltd. (“Guangzhou
Shiyinlian”)

 

PRC

 

October 2019

 

 

100

%

 

Technical support and consulting
services

Variable Interest Entities

 

 

 

 

 

 

 

 

 

Guangzhou Kugou Computer
Technology Co., Ltd. (“Guangzhou
Kugou”)

 

PRC

 

July 2016*

 

 

100

%

 

Online music and entertainment related
services

Beijing Kuwo Technology Co., Ltd.
(“Beijing Kuwo”)

 

PRC

 

July 2016*

 

 

100

%

 

Online music and entertainment related
services

Subsidiaries of Variable Interest
   Entities

 

 

 

 

 

 

 

 

 

Tencent Music Entertainment
(Shenzhen) Co., Ltd. (“TME
Shenzhen”)

 

PRC

 

July 2016*

 

 

100

%

 

Online music and entertainment related
services

Shenzhen Lanren Online Technology
Co., Ltd (“Shenzhen Lanren”)

 

PRC

 

March 2021

 

 

100

%

 

Audio platform

 

* Representing the entities acquired by the Group on July 12, 2016.

Summary of Condensed Separate Financial Statements

The following are major financial statements amounts and balances of the Group’s VIEs and subsidiaries of VIEs on a combined basis.

 

 

As at December 31,

 

 

2024

 

 

2025

 

 

RMB’million

 

 

RMB’million

 

Total current assets

 

 

11,837

 

 

 

10,488

 

Total non-current assets

 

 

7,203

 

 

 

10,679

 

Total assets

 

 

19,040

 

 

 

21,167

 

Total current liabilities

 

 

(7,023

)

 

 

(8,169

)

Total non-current liabilities

 

 

(344

)

 

 

(1,048

)

Total liabilities

 

 

(7,367

)

 

 

(9,217

)

 

 

Year ended December 31,

 

 

2023

 

 

2024

 

 

2025

 

 

RMB’million

 

 

RMB’million

 

 

RMB’million

 

Total revenues

 

 

26,770

 

 

 

27,180

 

 

 

30,804

 

Net loss

 

 

(302

)

 

 

(723

)

 

 

(698

)

Net cash inflow from operating activities

 

 

518

 

 

 

406

 

 

 

3,107

 

Net cash outflow from investing activities

 

 

(430

)

 

 

(323

)

 

 

(3,578

)

Net cash (outflow)/inflow from financing activities

 

 

(40

)

 

 

77

 

 

 

1,380

 

Net increase in cash and cash equivalents

 

 

48

 

 

 

160

 

 

 

909

 

Cash and cash equivalents, beginning of the year

 

 

490

 

 

 

538

 

 

 

697

 

Exchange differences on cash and cash equivalents

 

 

-

 

 

 

(1

)

 

 

-

 

Cash and cash equivalents, end of the year

 

 

538

 

 

 

697

 

 

 

1,606