Tencent Music Entertainment Group (TME) — Financial statements
Income statement, balance sheet, and cash flow for Tencent Music Entertainment Group — annual and quarterly history with growth and margin analysis.
| Metric (CNY Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 32,902↑15.8% | 28,401↑2.3% | 27,752↓2.1% | 28,339↓9.3% | 31,244 | |
| Cost of Revenue | 18,367↑12.2% | 16,376↓8.8% | 17,957↓8.2% | 19,566↓10.4% | 21,840 | |
| Gross Profit | 14,535↑20.9% | 12,025↑22.8% | 9,795↑11.6% | 8,773↓6.7% | 9,404 | |
| Operating Expenses | ||||||
| R&D Expenses | 2,317 | 0.00↓100.0% | 2,525↓2.1% | 2,580 | 0.00 | |
| General & Administrative Expenses | 1,599↓58.0% | 3,811↓7.5% | 4,121↓6.6% | 4,413↑10.1% | 4,009 | |
| Selling & Marketing Expenses | 941↑8.8% | 865↓3.6% | 897↓21.6% | 1,144↓57.3% | 2,678 | |
| SG&A Expenses | 2,540↓45.7% | 4,676↓6.8% | 5,018↓9.7% | 5,557↓16.9% | 6,687 | |
| Other Expenses | -59↑95.7% | -1,361↑64.3% | -3,807↑0.0% | -3,807↓251.5% | -1,083 | |
| Operating Expenses | 4,798↑44.7% | 3,315↓11.3% | 3,736↓13.7% | 4,330↓22.7% | 5,604 | |
| Total Costs & Expenses | 23,165↑17.6% | 19,691↓9.2% | 21,693↓9.2% | 23,896↓12.9% | 27,444 | |
| Operating Results | ||||||
| Operating Income | 9,737↑11.8% | 8,710↑43.8% | 6,059↑36.4% | 4,443↑16.9% | 3,800 | |
| Depreciation & Amortization | 1,375↑40.6% | 978↑35.8% | 720↓37.9% | 1,160↑15.9% | 1,001 | |
| EBITDA | 14,774↑50.5% | 9,814↑71.6% | 5,719↑1.3% | 5,648↑18.8% | 4,753 | |
| EBIT | 13,399↑51.6% | 8,836↑76.8% | 4,999↑11.4% | 4,488↑19.6% | 3,752 | |
| Interest & Other Income | ||||||
| Net Interest Income | 932↓13.1% | 1,072↑15.5% | 928↑55.7% | 596↑45.4% | 410 | |
| Interest Income | 1,054↓11.9% | 1,196↑13.7% | 1,052↑48.0% | 711↑34.2% | 530 | |
| Interest Expense | 122↓1.6% | 124↑0.0% | 124↑7.8% | 115↓5.0% | 121 | |
| Non-Operating Income | -3,662↓2806.3% | -126↓111.9% | 1,060↑2455.6% | -45↓193.8% | 48 | |
| Other Income / Expenses | 3,540↑176900.0% | 2↑114.3% | -14↑80.0% | -70↑58.3% | -168 | |
| Income Before Tax | 13,277↑52.4% | 8,712↑44.1% | 6,045↑38.2% | 4,373↑20.4% | 3,632 | |
| Income Tax Expense | 1,924↑20.0% | 1,603↑94.3% | 825↑54.5% | 534↑28.1% | 417 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 11,353↑59.7% | 7,109↑36.2% | 5,220↑36.0% | 3,839↑19.4% | 3,215 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 11,056↑66.4% | 6,644↑35.0% | 4,920↑33.8% | 3,677↑21.4% | 3,029 | |
| Bottom-Line Net Income | 11,056↑66.4% | 6,644↑35.0% | 4,920↑33.8% | 3,677↑21.4% | 3,029 | |
| EPS (Basic) | 7.00↑62.8% | 4.30↑36.1% | 3.16↑37.4% | 2.30↑26.4% | 1.82 | |
| EPS (Diluted) | 6.92↑63.2% | 4.24↑36.8% | 3.10↑36.0% | 2.28↑26.7% | 1.80 | |
| Weighted Average Shares | 1,534↓2.0% | 1,565↓1.2% | 1,584↓1.1% | 1,602↓3.5% | 1,661 | |
| Weighted Average Diluted Shares | 1,554↓0.7% | 1,565↓1.2% | 1,584↓2.0% | 1,617↓3.8% | 1,682 | |
* All figures in Millions of CNY, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.