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    Zhi Yi Chen

    Research Analyst at Haitong International

    Zhi Yi Chen is an Analyst at Haitong International, specializing in equity research with a focus on the technology and entertainment sectors. He has covered companies such as Tencent Music Entertainment Group, actively participating in company earnings calls and providing insights on their financial performance, including periods of significant growth for covered companies. Chen joined Haitong International in recent years, though specific prior employment and full career timeline details are not widely published. His professional credentials and securities licenses are not currently listed in public registries, limiting confirmation of FINRA or similar qualifications.

    Zhi Yi Chen's questions to Tencent Music Entertainment (TME) leadership

    Zhi Yi Chen's questions to Tencent Music Entertainment (TME) leadership • Q1 2025

    Question

    Zhi Yi Chen of Haitong International inquired about Tencent Music's outlook for top-line revenue and profit growth for the upcoming quarter and the full year 2025.

    Answer

    Executive Chairman Kar Shun Pang stated that TME expects its full-year 2025 year-over-year growth rate to accelerate from the previous year, accompanied by continued margin expansion. He emphasized that the music subscription business remains the cornerstone, with the SVIP program enhancing user engagement and ARPPU, while non-subscription areas like advertising and merchandise are also poised for growth.

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