Company: TME
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0000950170-25-056949
Chunk: 232

Company: Tencent Music Entertainment Group
Filing Date: 2025-04-23
Form: 20-F
Item: Item 5
Chunk 232
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 represents future maximum commitment relating to the principal amount and interests in connection with the issuance of US$300 million in aggregate principal amount of senior notes bearing an annual interest rate of 1.375% which will mature on September 3, 2025. 2030 Notes represents future maximum commitment relating to the principal amount and interests in connection with the issuance of US$500 million in aggregate principal amount of senior notes bearing an annual interest rate of 2.000%, which will mature on September 3, 2030.
We intend to fund our existing and future material cash requirements with our existing cash, cash equivalents, term deposits and cash generated from operating activities. We will continue to make cash commitments, including capital expenditures, to support the growth of our business. We may also use earnings remitted by our PRC subsidiaries to fulfil our onshore and offshore capital needs.

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Capital Expenditures
Our capital expenditures are incurred primarily in connection with purchases of property, plant and equipment, land use rights and intangible assets. Our capital expenditures were RMB1,053 million, RMB1,164 million and RMB1,032 million (US$141 million) in 2022, 2023 and 2024, respectively. We intend to fund our future capital expenditures with our existing cash, cash equivalents, term deposits and cash generated from operating activities. We will continue to make capital expenditures to meet the expected growth of our business.
Commitments
The following table sets forth our commitments as of December 31, 2024.

                                Payment due by period                                                                                              
                                Total                 Less than 1 year            1 – 3 years           3 – 5 years           More than 5 years    
                                RMB         US$       RMB             US$         RMB         US$       RMB         US$       RMB             US$  
                                (in millions)                                                                                                      
Operating commitments(1)          197        27         192              26         5           1       -           -         -               -    
Content royalties(2)            3,018       413       2,772             380       245          34   1                 0       -               -    
Investment commitments(3)         168        23         168              23       -           -         -           -         -               -    
Capital commitments(4)            671        92         412              56       197