Tencent Music Entertainment Group (TME) Financial Statements — Income, Balance Sheet, Cash Flow

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Financial Statements — TME

Balance Sheet

(in billions CNY)

Metric	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Cash & Equivalents	13.16	13.57	9.56	6.59	11.13	15.43
Inventory	0.02	0.01	0.01	0.02	0.02	0.03
Total Current Assets	34.54	29.94	26.56	26.79	31.69	26.91
Goodwill	19.65	19.54	19.49	19.12	17.49	17.14
Total Non-current Assets	55.90	45.60	40.45	40.46	36.59	25.76
Total Assets	90.44	75.54	67.01	67.25	68.27	52.68
Total Current Liabilities	16.55	12.01	11.72	10.45	9.60	8.49
Total Non-current Liabilities	4.17	6.32	6.17	5.75	5.94	0.51
Total Liabilities	20.72	18.33	17.88	16.20	15.54	9.00
Retained Earnings	20.05	16.97	12.05	14.19	11.11	7.01
Total Stockholder Equity	69.73	57.20	49.13	51.06	52.73	43.68

Income Statement

(in billions CNY)

Metric	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Total Revenue	28.40	27.75	28.34	31.24	29.15	25.43
Cost of Revenue*	16.38	17.96	19.57	21.84	19.85	16.76
Gross Profit	12.03	9.80	8.77	9.40	9.30	8.67
Research & Development	2.28	2.53	2.58	2.34	1.67	1.16
Selling, General & Admin	3.81	4.12	4.41	4.01	3.10	2.70
Total Operating Expenses	4.68	5.02	5.56	6.69	5.58	4.74
Operating Income	8.71	6.06	4.44	3.80	4.71	4.62
Pretax Income	8.71	6.05	4.37	3.63	4.63	4.54
Tax Provision	1.60	0.83	0.53	0.42	0.46	0.56
Net Income	7.11	5.22	3.84	3.22	4.18	3.98

* Derived from reported values

Cash Flow Statement

(in billions CNY)

Metric	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Operating Cash Flow	10.28	7.34	7.48	5.24	4.89	6.20
Investing Cash Flow	(6.82)	(1.86)	(1.45)	(6.00)	(14.21)	(8.10)
Financing Cash Flow	(3.83)	(1.54)	(3.42)	(3.71)	5.29	(0.03)