Tencent Holdings 
Tencent Music Entertainment 
Huawei 
Profits at Tencent Music Entertainment, China’s largest digital music company, dropped in the third quarter of its financial year as the company felt the impact of the Chinese government’s multiple crackdowns on the tech sector.Net profits in the three months from July to September 2021 fell to RMB788 million ($122 million). That compares with net profit of RMB1.13 billion in the equivalent quarter last year, and with an RMB871 figure in the April-June second quarter of 2020.Revenues at RMB7.81 billion...
Tencent Music Entertainment
Ross
Liang
CEO
Liang was handed the reins of Tencent Music Entertainment (TME) in April 2021 when Cussion Pang transitioned to chairman of the board, putting big responsibilities on Liang’s shoulders. TME is the leading music streamer in China with four mobile music apps (QQ Music, Kugou Music, Kuwo Music, WeSing) and a total of more than 800 million users. The company launched an IPO in the U.S. in 2018 that raised $1.1 billion, and it has stakes in Warner Music Group, Universal Music Group, virtual concert platform Wave, Stockholm-based Spotify and British data-driven A&R platform Instrumental. While TME cited 71 million paid users across TME’s services in Q3 2021, a 37% year-over-year increase, net profits and monthly users dropped amid heightened regulation of the tech sector throughout China.
