Tencent Music Falls 15% - Net Profit in the Fourth Quarter of Last Year Slightly Lower Than Previous Expectations.

As of the release of this article, Tencent Music Entertainment Group's stock has dropped by 15%. According to research reports from CICC (China International Capital Corporation), Tencent Music's revenue in the fourth quarter of last year reached 8.641 billion yuan, an increase of 15.9% year-on-year. The non-IFRS attributable net profit was 2.485 billion yuan, an increase of 9% year-on-year. This profit is slightly lower than the previously expected 2.528 billion yuan.