HK Stock Market Move | TME-SW (01698) rose nearly 3%, with adjusted net profit of 2.78 billion yuan for Q2 2026, benefiting from the consolidation of Himalaya's contributions.

TME-SW (01698) rose nearly 3%, and as of the time of writing, it is up 2.37%, trading at HK$33.72, with a transaction volume of HK$24.3701 million. On the news front, on August 11, Tencent Music released its unaudited financial performance report for the second quarter ended June 30, 2026. In the second quarter, Tencent Music achieved steady overall performance growth. Data showed that total revenue for this quarter grew by 5.8% year-on-year to RMB 8.93 billion, and adjusted net profit increased by 5.3% year-on-year to RMB 2.78 billion. Among them, revenue from music-related services achieved diversified growth, increasing by 11% year-on-year to RMB 7.61 billion; revenue from music-related membership services reached RMB 4.79 billion, up 8.1%; and marketing and consumer service revenue was RMB 2.81 billion, an increase of 16.2%. China Securities Co., Ltd. believes that Tencent Music achieved stable performance growth in the second quarter. The subscription business showed stable performance, the incorporation of Ximalaya contributed incremental growth, and IP-related business performed well. Offline performances and artist merchandising achieved double-digit growth, and the synergies of artist incubation, performance IP, and fan economy continued to be released. The incorporation of Ximalaya marks the company's completion of its transformation from a music platform to a "music + audio" comprehensive service platform. The company is focusing on integrating SVIP rights as a starting point to deepen content synergy with CHINA LIT and Tencent Video, with long audio business focusing on three main directions: classic children's stories, online literature IP from Yuewen, and Tencent Video's S-class dramas.