Tencent Music Completes Acquisition of Ximalaya to Expand Audio Empire

Tencent Music Entertainment Group Class A ( (HK:1698) ) just unveiled an announcement.

Tencent Music Entertainment Group has completed its acquisition of Ximalaya Inc., a major audio platform, making it a wholly owned subsidiary and significantly deepening its presence in the online audio market. The deal, structured as a merger, involved up to US$1.26 billion in cash and the issuance of up to 175,288,891 Class A shares, signaling a strategic bet on long-form audio and consolidating Tencent Music’s position in China’s digital entertainment sector.

By integrating Ximalaya, Tencent Music is expected to broaden its content portfolio beyond music into podcasts and audiobooks, enhancing cross-platform synergies and user engagement across its ecosystem. The transaction may also recalibrate the group’s capital structure and share base, with implications for existing shareholders as the company pursues scale and competitive advantages in the fast-growing audio entertainment industry.

The most recent analyst rating on (HK:1698) stock is a Hold with a HK$40.00 price target. To see the full list of analyst forecasts on Tencent Music Entertainment Group Class A stock, see the HK:1698 Stock Forecast page.

More about Tencent Music Entertainment Group Class A

Tencent Music Entertainment Group is a leading online music and audio entertainment platform operator, listed in both Hong Kong and New York, that offers streaming services, social entertainment features and digital music content to users in China. The company focuses on leveraging technology and partnerships to expand its ecosystem across music, podcasts and broader audio offerings.

Average Trading Volume: 2,039,298

Technical Sentiment Signal: Sell

Current Market Cap: HK$96.91B

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