V Guan Finance Report ｜ Tencent Music Application is listed on the Hong Kong Stock Exchange by an introduction, trading on September 21

Zhongxin Jingwei September 15th Voice Tencent Music announced on September 15th in the Hong Kong Stock Exchange that according to the seventh chapter of the "Listing Rules" (stock securities) and chapter 19 (overseas issuer's second listing) The company's category A ordinary stock is listed on the motherboard. The listing of categories A ordinary shares only conducts the main board of the Hong Kong Stock Exchange in the introduction method without listing or sale of any type of ordinary shares.

Screenshot source: Tencent Music Announcement

It is reported that category A's ordinary shares are expected to start sale on the Hong Kong Stock Exchange on September 21, 2022 (Wednesday). Tencent Music's Class A ordinary shares will be bought and sold at the Hong Kong Stock Exchange with 100 A shares of A. Ordinary shares per hand. In addition, the transactions of categories of ordinary shares in the Hong Kong Stock Exchange will be held in Hong Kong dollars. The share code is 1698.

It is understood that the introduction of listing is a method of secondary marketing. This time Tencent Music has logged in to Hong Kong stocks by introducing listing. It does not need to issue new shares or sell the shares held by the existing shareholders at the time of listing, which does not involve IPO financing links.

The prospectus shows that Tencent Music Operation QQ Music, Cool Dog Music, Cool Music and National K Ge four major product brands provide online music and social entertainment services to meet the diversified music entertainment needs of the majority of Chinese user groups.

In terms of performance, Tencent's music revenue increased from RMB 25.4 billion in 2019 to 29.2 billion yuan (RMB, the same below) in 2020, and further increased to 31.2 billion yuan in 2021. In 2019, 2020, and 2021, net profit was achieved by 4. billion yuan, 4.2 billion yuan and 3.2 billion yuan, respectively.

The latest announcement of the second quarter of FY2022 shows that the total revenue of Tencent Music in the second quarter was 6.91 billion yuan, a year -on -year decrease of 13.8%. The company's net profit was 1.07 billion yuan under non -international financial reporting standards, a year -on -year decrease of 8.3%. The monthly active users of Tencent Music's online music and social entertainment have decreased by 4.8%and 20.6%respectively.

Tencent Music stated in the second quarter financial report that the company's revenue from advertising declined year -on -year due to the impact of industry adjustments on opening advertising and some new crown pneumonia epidemic situation in large cities. In addition, the macro environmental changes and the increasing competition between the company and other platforms have also reduced the revenue of social entertainment services and other businesses.

In terms of the secondary market, Tencent Music has increased by 0.42%in US stocks in the last trading day to US $ 4.78/share, with a total market value of $ 8.1 billion. (Zhongxin Jingwei APP)

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