v3.26.1
Financial Assets at Fair Value (Tables)
12 Months Ended
Dec. 31, 2025
Disclosure of financial assets [abstract]  
Summary of Financial Assets at Fair Value Through Other Comprehensive Income In Equity Investments in Listed Securities and Unlisted Securities

As at December 31, 2024 and 2025, the Group’s financial assets at fair value through other comprehensive income include equity investments in listed securities and equity investments in unlisted securities as the following table. The investments in listed equity securities mainly represented its investment in Spotify Technology S.A. (“Spotify”) and UMG.

 

As at December 31,

 

2024

 

2025

 

RMB’million

 

RMB’million

 

 

 

 

 

 

 

 

Equity investments in listed entities

 

 

14,498

 

 

 

26,217

 

Equity investments in unlisted entities

 

 

-

 

 

 

14

 

 

 

 

14,498

 

 

 

26,231

 

 

Summary of Financial Assets at Fair Value Through Other Comprehensive Income

Movement of financial assets at fair value through other comprehensive income is analyzed as follows:

 

Year ended December 31,

 

2024

 

2025

 

RMB’million

 

RMB’million

 

 

 

 

 

 

 

 

At January 1

 

 

6,540

 

 

 

14,498

 

Additions

 

 

-

 

 

 

8,271

 

Fair value change

 

 

7,786

 

 

 

4,094

 

Currency translation differences

 

 

172

 

 

 

(632

)

At December 31

 

 

14,498

 

 

 

26,231

 

Summary of Movement of Other Investment

As at December 31, 2024 and 2025, the Group’s other investments represented financial assets at fair value through profit or loss. Movement of other investments is analyzed as follows:

 

Year ended December 31,

 

2024

 

2025

 

RMB’million

 

RMB’million

 

At January 1

 

 

344

 

 

 

355

 

Additions

 

 

31

 

 

 

40

 

Fair value change

 

 

(23

)

 

 

(2

)

Disposal

 

 

-

 

 

 

(1

)

Currency translation differences

 

 

3

 

 

 

(6

)

At December 31

 

 

355

 

 

 

386

 

Of which are:

 

 

 

 

 

 

Current

 

 

46

 

 

 

83

 

Non-current

 

 

309

 

 

 

303

 

 

 

355

 

 

 

386