TME-SW(01698) released its annual performance, with a net profit attributable to shareholders of 11.06 billion yuan, a year-on-year increase of 66.4%.

TME-SW (01698) announced its fourth quarter performance for the three months ending December 31, 2025. The group achieved total revenue of 86.4 billion yuan (unit: same), a year-on-year increase of 15.9%; online music service revenue was 71 billion yuan, a year-on-year increase of 21.7%; net profit attributable to shareholders of the company was 22 billion yuan, a year-on-year increase of 12.6%; diluted earnings per American depositary share were 1.41 yuan. For the year 2025, the group achieved total revenue of 32.9 billion yuan, a year-on-year increase of 15.8%; online music service revenue was 267.3 billion yuan, a year-on-year increase of 22.9%; net profit attributable to shareholders of the company was 11.06 billion yuan, a year-on-year increase of 66.4%; cash dividends for the 2025 fiscal year are expected to be around $368 million. The announcement stated that online music service revenue for the fourth quarter increased by 21.7% compared to the same period in 2024, reaching 71 billion yuan (10.2 billion US dollars), thanks to the strong growth in online music subscription revenue, offline concert revenue, and advertising service revenue. Online music subscription revenue was 45.6 billion yuan (6.53 billion US dollars), a 13.2% increase compared to the same period in 2024. This significant growth was mainly due to the company continuously enriching member benefits, such as priority ticket purchases for offline concerts, artist merchandise, and various high-quality exclusive benefits. Offline concert revenue achieved strong year-on-year growth. The increase in advertising revenue was mainly due to the company providing a more diverse product portfolio and innovative advertising formats, such as incentive advertising models. Peng Jaxin, Chairman of Tencent Music Entertainment Group, said: "In 2025, we continue to improve the 'one body and two wings' strategy of content and platform, achieve accelerated revenue growth, and drive continuous improvement in profit margins. Based on the steady growth of subscription services and the strong development trend of non-subscription business around music IP, we further deepen the differentiated one-stop music service platform layout, unlock the value of music IP, and create more development opportunities for artists, while expanding a broader market space. In the context of the continuously evolving competitive landscape in the music industry, relying on a diverse integrated music service system, we have accumulated rich experience and built unique competitive advantages. Looking ahead, we always adhere to creating long-term value, will carefully plan, innovate continuously, and we are confident in seizing industry development opportunities and leading the industry forward." Zhu Liang, CEO of Tencent Music Entertainment Group, said: "Facing the rapid development of AI technology and the constantly changing consumer demands, we always remain sensitive, actively layout in various fields, in order to better serve users, strengthen the positive flywheel effect of content and platform. By continuously improving product experiences and adhering to a multi-level membership system and user-centric strategies, we have effectively promoted subscription conversions in 2025, enhanced user engagement and market share. It is worth mentioning that, with a differentiated massive content portfolio and immersive experience, our super members have exceeded 20 million, and the average monthly revenue per paying user has maintained steady growth. Additionally, our recently launched advertising membership subscription plan has made initial progress, and will help us further expand user reach and attract new audiences in the future."