Company: TME
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0000950170-25-056949
Chunk: 243

Company: Tencent Music Entertainment Group
Filing Date: 2025-04-23
Form: 20-F
Item: Item 6
Chunk 243
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 Garrison LLP, an international law firm where her practice focused on cross-border mergers and acquisitions and private equity investments, with an emphasis on joint venture transactions and in the telecommunications, IT and media markets in the Asia Pacific region from 1986 to 2019. Ms. Chan is qualified to practice law in New York, British Columbia (Canada) and Hong Kong and is a non-practicing solicitor of England and Wales. She obtained a Bachelor of Arts from the University of Toronto in Canada in 1980, a Bachelor of Laws from the University of British Columbia in Canada in May 1983, and a master’s degree in law from Harvard University in the United States in June 1986.
Tsai Chun Pan currently serves as our Vice President, responsible for the overall strategies and daily management of our content cooperation business. Mr. Pan has years of management experience in the entertainment and music industries and is a seasoned expert in China’s digital music industry. Prior to joining us, Mr. Pan established Ultimate Music in 2014, pioneering the B2B business model for digital music and establishing partnerships with leading enterprises in three core areas of smart terminals, including smartphones, smart speakers, and new energy vehicles. Prior to founding Ultimate Music, Mr. Pan worked as the head of entertainment services for Nokia Greater China from 2005 to 2013. Mr. Pan graduated from the University of London with a bachelor’s degree in East Asian Studies (Japanese Studies) in 1999 and later obtained a master’s degree in marketing management from Cranfield University in the United Kingdom in 2000.

6.B. Compensation
Compensation
In 2024, we paid an aggregate cash compensation of approximately RMB51 million (US$7 million) to our directors and executive officers. We have not set aside or accrued any amount to provide pension, retirement or other similar benefits to our directors and executive officers. Our PRC subsidiaries and the VIEs are required by law to make contributions equal to certain percentages of each employee’s salary for his or her pension insurance, medical insurance, unemployment insurance and other statutory benefits and a housing provident fund. Our board of directors may determine compensation to be paid to the directors and the executive officers. The compensation committee will assist the directors in reviewing and approving the compensation structure for the directors and the executive officers.
Employment Agreements and Indemnification Agreements
We have entered into employment agreements with each of our executive officers. Each of our executive officers is employed for a specified time period,