Company Overview - TME's online music paying users reached 125.7 million in 3Q25, with a paying ratio of 22.8%[8] - The platform boasts over 260 million music and audio tracks[12] - TME's last twelve months (LTM) total revenues as of 3Q25 were RMB 31.7 billion, with an adjusted net margin of 30.7%[12] - The company holds a strong cash position with RMB 36.08 billion in cash, cash equivalents, term deposits, and short-term investments[13] - Online music MAUs reached 551 million, with a monthly ARPPU of RMB 11.9, representing a YoY growth of 10.2%[13] Financial Highlights - Revenue from online music services in 3Q25 reached RMB 6.97 billion, a 27.2% YoY increase[36] - Revenue from music subscriptions in 3Q25 was RMB 4.50 billion, a 17.2% YoY increase[36] - Other online music services generated RMB 2.47 billion in revenue, a 50.6% YoY increase[36] - The online music monthly ARPPU in 3Q25 was RMB 11.9, a 10.2% YoY increase[37] - Non-IFRS net profit for 3Q25 was RMB 2.48 billion, a 27.7% YoY increase[37]