Ever since the merger of China Music Group and Tencent Music, TMEG has started to profit during the second half of 2016, according to an exclusive acquired by LeiDiWang.com.
By the end of 2016, TMEG’s income came close to 5 billion RMB, profit to 1.5 billion RMB and net profit to 600 million RMB. TMEG’s estimated annual income of 2017 will surpass 9 billion RMB with its net profit being over 1.6 billion RMB.
Also, TMEG’s total equity was 2,545,234,662 shares by December 31st, 2016. Tencent, being the biggest shareholder of TMEG, has 62.42%. Founding Shareholders, like Kugou, Kuwo and etc., holds 20.75%. EMI Record holds 0.98% and Sony Record holds 0.09%. TMEG has sold some of its old shares in the mid of 2017 for about 1 hundred million USD, according to a report by Gelonghui on January 3rd.
TMEG is up for U.S. Stocks IPO this year, covered by multiple media. According to Bloomberg, TMEG will finance over 1 billion USD, which would make its estimated value to reach 10 billion USD. TMEG’s estimated income for this year will surpass 18 billion RMB with its net profit over 3.1 billion RMB.
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