Group 1 - Tencent Music Entertainment Group announced the acquisition of Himalaya for $1.26 billion (approximately RMB 9.06 billion) in cash and stock, marking a significant move in the long audio sector [1] - Himalaya has 303 million monthly active users, accounting for 25% of China's online audio market, making it a crucial addition to Tencent Music's user base [3] - The acquisition aims to enhance Tencent Music's ecosystem by integrating music, audiobooks, and podcasts, thereby strengthening its competitive position against ByteDance's audio offerings [3][8] Group 2 - The online audio industry in China has been experiencing rapid growth, with Tencent Music and NetEase Cloud Music holding nearly 90% of the market share [2] - The user engagement in music apps is facing challenges, with a decline in average daily usage time, indicating a shift in consumer behavior towards video content [4][8] - The acquisition is seen as a strategic move for Himalaya, which has struggled with multiple failed IPO attempts, providing it with a stable investment partner in Tencent Music [3][8]