Tencent Music-SW plunges over 22% with monthly active users declining 5%

K-LinePoet

2026-03-18 05:46:02

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Shanghai Securities News China Securities Network News (Reporter Yang Ziyan): On the afternoon of March 18, Tencent Music-SW continued its decline. As of 1:24 PM, Tencent Music-SW fell 22.83% to HKD 44.14 per share, with a trading volume of approximately HKD 352.1 million, and a total market capitalization of about HKD 136.7 billion. At the same time, NetEase Cloud Music dropped 8.95%.

In terms of news, Tencent Music-SW announced its 2025 financial report on the evening of March 17. The report shows that in 2025, the company’s total revenue was 32.9 billion yuan (RMB), a year-on-year increase of 15.8%. Among them, online music service revenue increased by 22.9% to 26.73 billion yuan. Additionally, the company’s monthly active users in Q4 2025 were 528 million, a 5% decrease compared to 556 million in Q4 2024.

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