Tencent Music's HK shares drop 24% to 13-month low on slower Q4 profit growth

Tencent Music Entertainment

18/03/2026 02:13

** Hong Kong shares of Tencent Music Entertainment Group 1698.HK drop as much as 23.8% to HK$43.6, their lowest level since February 2025

** Stock on course for the biggest one-day pct fall since debut in September 2022; top pct loser in Hang Seng TECH Index .HSTECH, which is down 0.2%

** U.S.-listed stock TME.N plunged 24.7% on Tuesday

** Chinese online music and audio entertainment platform said its Q4 net profit attributable to equity holders grew 12.6% y/y and non-IFRS net profit attributable to equity holders was up 9% y/y

** That compared to Q3's 36% y/y growth in net profit attributable to equity holders and a 32.6% y/y growth in non-IFRS net profit attributable to equity holders, and an over 40% y/y growth in both net profit and non-IFRS profit in Q4 2024

** YTD, Hong Kong stock down 35%, U.S.-listed shares down 35.1%

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))