Company: TME
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0000950170-25-056949
Chunk: 231

Company: Tencent Music Entertainment Group
Filing Date: 2025-04-23
Form: 20-F
Item: Item 5
Chunk 231
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 of RMB8,712 million (US$1,194 million) and the net cash provided by operating activities was mainly due to: (i) the increase in accounts payables of RMB1,845 million (US$253 million); (ii) depreciation and amortization of RMB978 million (US$134 million); (iii) non-cash share-based compensation expense of RMB596 million (US$82 million); partially offset by (i) the income tax paid of RMB1,355 million (US$186 million); and (ii) the increase in accounts receivable of RMB539 million (US$74 million).
Investing activities
Net cash used in investing activities was RMB6,818 million (US$934 million) in 2024, which was primarily attributable to (i) placement of term deposits with initial terms of over three months of RMB24,458 million (US$3,351 million); (ii) placement of short-term investments of RMB12,000 million (US$1,644 million); (iii) purchase of intangible assets of RMB713 million (US$98 million); and (iv) purchase of property, plant and equipment of RMB319 million (US$44 million); partially offset by (i) receipt from maturity of term deposits with initial terms of over three months of RMB18,851 million (US$2,583 million); and (ii) receipt from short-term investments of RMB12,035 million (US$1,649 million).
Financing activities
Net cash used in financing activities in 2024 was RMB3,830 million (US$525 million), which was mainly due to (i) payment for repurchase of ordinary shares of RMB1,925 million (US$264 million); (ii) payment for dividends to the Company’s shareholders of RMB1,508 million (US$207 million); (iii) payment for shares withheld for shares award schemes of RMB217 million (US$30 million); (iv) payment for lease liabilities of RMB134 million (US$18 million); and (v) payments for interests of RMB119 million (US$16 million).
Material Cash Requirements
Our material cash requirements as of December 31, 2024 and any subsequent interim period primarily include our capital expenditures, commitments, share repurchase, long-term debt obligation under our 2025 Notes and 2030 Notes, and dividend payments. 2025 Notes