Tencent Music Entertainment Group's Comment on Sales, Marketing and Customers
Tencent Music Entertainment Group (TME) operates in China through contractual arrangements with Variable Interest Entities (VIEs) due to restrictions on foreign investment in certain internet and telecommunication services under PRC law. The Group's significant subsidiaries and VIEs include Guangzhou Kugou, which operates Kugou Music and Kugou Live; Beijing Kuwo, which operates Kuwo Music and Kuwo Live; and Tencent Music Shenzhen, which operates QQ. Shareholders of these entities include Tencent-controlled companies such as Shenzhen Tencent Ruijian Investment Co., Ltd. and Linzhi Lichuang Information Technology Co., Ltd., as well as individuals including Qihu Yang, Dejun Gu, Xing Chen, Yueting Luo, and Yunheng Liang. TME serves customers in the value-added telecommunication services, internet cultural services, and internet audio-video program services markets in China. Other entities referenced in relation to the Group include Beijing Gongse, Beijing Shangqin, Beijing Yuzhong, Beijing Zhizheng, Qianhai Daizheng, and Shenzhen Litong Industry Investment Fund Co., Ltd.
Tencent Music Entertainment Group’s Comment on Sales, Marketing and Customers
Tencent Music Entertainment Group (TME) operates in China through contractual arrangements with Variable Interest Entities (VIEs) due to restrictions on foreign investment in certain internet and telecommunication services under PRC law. The Group's significant subsidiaries and VIEs include Guangzhou Kugou, which operates Kugou Music and Kugou Live; Beijing Kuwo, which operates Kuwo Music and Kuwo Live; and Tencent Music Shenzhen, which operates QQ. Shareholders of these entities include Tencent-controlled companies such as Shenzhen Tencent Ruijian Investment Co., Ltd. and Linzhi Lichuang Information Technology Co., Ltd., as well as individuals including Qihu Yang, Dejun Gu, Xing Chen, Yueting Luo, and Yunheng Liang. TME serves customers in the value-added telecommunication services, internet cultural services, and internet audio-video program services markets in China. Other entities referenced in relation to the Group include Beijing Gongse, Beijing Shangqin, Beijing Yuzhong, Beijing Zhizheng, Qianhai Daizheng, and Shenzhen Litong Industry Investment Fund Co., Ltd.
Sources:
Tencent Music Entertainment Group’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Tencent Music Entertainment Group’s corporate clients.
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