Document:

EX-4.58

 Exhibit 4.58 

Share of Property Pledge Agreement 

This Share of Property Pledge Agreement (the “Agreement”) is entered into by and among the following Parties on July 14,
2020 in Beijing, People’s Republic of China (the “PRC”): 
 Party A: Tencent Music (Beijing) Co., Ltd. (the
“Pledgee”), a wholly foreign-owned enterprise incorporated and existing under the laws of the PRC, with its registered address at Room 303, 3rd Floor of 101, -2nd to 8th Floor, No.7 Building,
East Tianchen Road, Chaoyang District, Beijing; 
 Party B: Beijing Gongse Enterprise Management Co., Ltd., a limited liability company,
organized and existing under the laws of the PRC, with Unified Social Credit Code: 91110108MA01T49E9G; and 
 Yang Qihu, a Chinese
citizen with Chinese Identification No. [    ]; and 
 Gu Dejun, a Chinese citizen with Chinese Identification
No. [    ]; and 
 Zhou Jie, a Chinese citizen with Chinese Identification No. [    ]; and

 Chen Xing, a Chinese citizen with Chinese Identification No. [    ]; and 

Liang Yunheng, a Chinese citizen with Chinese Identification No. [    ]. 

(The aforesaid Beijing Gongse Enterprise Management Co., Ltd., Yang Qihu, Gu Dejun, Zhou Jie, Chen Xing and Liang Yunheng hereinafter
referred to as a “Pledgor” respectively and as the “Pledgors” collectively); 
 Party C: Beijing Shangqin
Culture Management Partnership (Limited Partnership), a limited partnership, organized and existing under the laws of the PRC, with its address at Room 0081, 4/F, Block A, Building 24, No. 68 Beiqing Road, Haidian District, Beijing. 

In this Agreement, each of the Pledgee, the Pledgors and Party C shall be referred to as a “Party” respectively or as the
“Parties” collectively. 
 Whereas: 
  

	1.	 The Pledgor Beijing Gongse Enterprise Management Co., Ltd. is a limited liability company, organized and
existing under the laws of the PRC; the pledgors Yang Qihu, Gu Dejun, Zhou Jie, Chen Xing and Liang Yunheng are Chinese citizens. As of the date of this Agreement, the investors hold an aggregate of 100% of the share of property in Party C,
representing the registered capital of RMB 1,000,000. (1)Beijing Gongse Enterprise Management Co., Ltd. as a general partner holds 0.0005% of the share of property in Party C, representing RMB 5 in the registered capital thereof; (2)Yang Qihu as a
limited partner holds 19.9999% of the share of property in Party C, representing RMB 199,999 in the registered capital thereof; (3) Gu Dejun as a limited partner holds 19.9999% of the share of property in Party C, representing RMB 199,999 in
the registered capital thereof; (4) Zhou Jie as a limited partner holds 19.9999% of the share of property in Party C, representing RMB 199,999 in the registered capital thereof; (5) Chen Xing as a limited partner holds 19.9999% of the
share of property in Party C, representing RMB 199,999 in the registered capital thereof; (6) Liang Yunheng as a limited partner holds 19.9999% of the share of property in Party C, representing RMB 199,999 in the registered capital thereof.
Party C is a limited partnership established in Beijing China and engages in “organization of cultural and artistic exchange activities (excluding commercial performance); business management; business management consulting; business planning;
market research; copyright transfer; copyright agency; design, production, agency and release of advertisements; technology development, technology services, technology consultation and technology transfer”. Party C hereby acknowledges the
rights and obligations of the Pledgors and the Pledgee under this Agreement and intends to provide any necessary assistance in registering the Pledge. 

  
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	2.	 The Pledgee is a wholly foreign-owned enterprise registered in China. The Pledgee and Party C have executed an
Exclusive Business Cooperation Agreement in Beijing (as defined below). The Pledgee, the Pledgors and Party C have executed an Exclusive Option Agreement (as defined below). The Pledgee and Pledgors have executed a Loan Agreement (as defined below).
Each of the Pledgors has executed a Power of Attorney in favor of the Pledgee (as defined below). 

  

	3.	 To ensure that Party C and the Pledgors fully perform its or their obligations under the Exclusive Business
Cooperation Agreement, the Exclusive Option Agreement, the Loan Agreement and the Power of Attorney, the Pledgors pledge to the Pledgee all the share of property they hold in Party C as security for the performance of Party C’ and the
Pledgors’ obligations under the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement, the Loan Agreement and Offset Agreement and the Power of Attorney. 

To perform the terms of the Transaction Documents, the Parties have mutually agreed to execute this Agreement upon the following terms. 

 

	1.	 Definitions 

Unless otherwise provided in this Agreement, the terms below shall have the following meanings: 

 

	1.1.	 Pledge: means the security interest granted by the Pledgors to the Pledgee pursuant to Section 2 of
this Agreement, i.e., the right of the Pledgee to be compensated on a preferential basis with any proceeds received from conversion, auction or sale of the Pledged Share of Property. 

 

	1.2.	 Pledged Share of Property: means 100% of the share of property in Party C collectively held by the
Pledgors now, representing RMB 1,000,000 of Party C’s registered capital, and all the future share of property in Party C held by the Pledgors. 

  
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	1.3.	 Term of Pledge: means the term set forth in Section 3.1 of this Agreement. 

 

	1.4.	 Transaction Documents: means the Exclusive Business Cooperation Agreement entered into by and between
Party C and the Pledgee on July 14, 2020 in Beijing (the “Exclusive Business Cooperation Agreement”); the Exclusive Option Agreement entered into by and among the Pledgors, Party C and the Pledgee on July 14, 2020 in
Beijing (the “Exclusive Option Agreement”); the Loan Agreements entered into by and between the Pledgee and each of the Pledgors respectively on July 14, 2020 (the “Loan Agreement”); the Power of Attorney
executed by each of the Pledgors respectively on July 14, 2020 in Beijing (the “Power of Attorney”), and any amendments, revisions and/or restatements to the aforesaid documents. 

 

	1.5.	 Contractual Obligations: means all the obligations of the Pledgors under the Exclusive Option Agreement,
the Power of Attorney and this Agreement, and all the obligations of Party C under the Exclusive Business Cooperation Agreement, the Exclusive Option Agreement, the Loan Agreement and this Agreement. 

 

	1.6.	 Secured Indebtedness: means all direct, indirect, consequential losses and losses of anticipated profits
suffered by the Pledgee as a result of any Event of Default of the Pledgors and/or Party C, of which the basis for the amount of such losses includes without limitation reasonable business plans and profit forecasts of the Pledgee, the service fees
that Party C is obliged to pay under Exclusive Business Cooperation Agreement, as well as all expenses as incurred by the Pledgee in connection with its enforcement for the performance of Contractual Obligations against the Pledgors and/or Party C.

  

	1.7.	 Event of Default: means any circumstances as set forth in Section 7 of this Agreement.

  

	1.8.	 Notice of Default: means the notice issued by the Pledgee in accordance with this Agreement declaring an
Event of Default. 

  

	2.	 The Pledge 

  

	2.1.	 The Pledgors hereby agree to pledge to the Pledgee the Pledged Share of Property in accordance with this
Agreement as security for the performance of the Contractual Obligations and the repayment of the Secured Indebtedness. Party C hereby agrees for the Pledgors to pledge the Pledged Share of Property to the Pledgee in accordance with this Agreement.

  
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	2.2.	 During the Term of Pledge, the Pledgee is entitled to receive any dividends or distributions in respect of the
Pledged Share of Property. With the prior written consent of the Pledgee, the Pledgors may collect such dividends or distributions in respect of the Pledged Share of Property. Any dividends or distributions received by the Pledgee in respect of the
Pledged Share of Property after deduction of income tax paid by Pledgors shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under the custody of the Pledgee, be used as security for
the Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be unconditionally donated to the Pledgee or any person designated by the Pledgee.

  

	2.3.	 With the prior written consent of the Pledgee, the Pledgors may subscribe for increased capital in Party C. Any
increase in the capital contributed by the Pledgors to the registered capital of Party C as a result of any capital increase shall also be deemed as the Pledged Share of Property. 

 

	2.4.	 In the event that Party C is to be dissolved or liquidated as required by any mandatory rules of the PRC laws,
upon the lawful completion of such dissolution or liquidation procedure, any proceeds distributed by Party C to the Pledgors shall, upon the Pledgee’s request, (1) be deposited into a bank account designated by the Pledgee, be placed under
the custody of the Pledgee, and be used as security for the Contractual Obligations and be first applied towards full satisfaction of the Secured Indebtedness; or (2) to the extent permitted by the PRC laws, be unconditionally donated to the
Pledgee or any person designated by the Pledgee. 

  

	3.	 Term of Pledge 

 

	3.1.	 The Pledge shall become effective on the date of execution of this Agreement and shall be continuously valid
until full performance of the Contractual Obligations and full satisfaction of the Secured Indebtedness. The Pledgors and Party C shall, (1) register the Pledge in the shareholders’ register of Party C within 3 business days following the
execution of this Agreement, and (2) submit an application to the relevant administration for industry and commerce for the registration of the Pledge contemplated herein within 30 business days following the execution of this Agreement. The
Parties covenant that for the purpose of registration of the Pledged Share of Property, the Parties and other partners of Party C shall submit to the administration of industry and commerce this Agreement or a share of property pledge agreement in
the form required by the administration of industry and commerce of where Party C locates, which shall truly reflect the information of the Pledge hereunder (the “AIC Pledge Agreement”). For matters not specified in the AIC Pledge
Agreement, the parties shall be bound by the provisions of this Agreement. The Pledgors and Party C shall submit all necessary documents and complete all necessary procedures, as required by the PRC laws and regulations and the relevant
administration of industry and commerce, to ensure that the Pledge shall be registered as soon as possible after filing. 

  
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	3.2.	 During the Term of Pledge, in the event the Pledgors and/or Party C fail to fulfill the Contractual Obligations
or pay the Secured Indebtedness, the Pledgee shall be entitled to, but not be obliged to, exercise the Pledge in accordance with this Agreement. 

  

	4.	 Custody for Certificates of the Pledge 

 

	4.1.	 During the Term of Pledge, the Pledgors shall deliver to the Pledgee within one (1) week following the
execution of this Agreement the certificate of capital contributions of share of property to Party C and the register of partners which records the Pledge. The Pledgee will place such documents in custody throughout the entire Term of Pledge
specified in this Agreement. 

  

	5.	 Representations and Warranties of the Pledgors and Party C 

The Pledgors and Party C hereby severally and jointly represent and warrant to the Pledgee as of the date hereof as follows: 

 

	5.1.	 The Pledgors, Beijing Gongse Enterprise Management Co., Ltd., Yang Qihu, Gu Dejun, Zhou Jie, Chen Xing and
Liang Yunheng, are the legal and beneficial owners of the Pledged Share of Property. 

  

	5.2.	 The Pledgee is entitled to dispose of and transfer the Pledged Share of Property in accordance with this
Agreement. 

  

	5.3.	 Except for the Pledge, the Pledgors have not created any other pledges or other security interest on the
Pledged Share of Property. 

  

	5.4.	 The Pledgors and Party C have obtained all necessary approvals and consents from government authorities and
third parties (if any) in connection with the execution, delivery and performance of this Agreement. 

  

	5.5.	 The execution, delivery and performance of this Agreement do not (i) result in any violation of any
relevant PRC laws; (ii) result in any conflict with the articles of association or other constitutional documents of Party C; (iii) result in any breach of any agreement to which it is a party or by which it is bound, or constitute any
default under any agreement to which it is a party or by which it is bound; (iv) result in any breach of any permit or license issued or granted to it and/or any condition of the validity thereof; or (v) result in the revocation or
suspension of, or imposition of conditions on, any permit or license issued to it. 

  
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	6.	 Undertakings by the Pledgors and Party C 

 

	6.1.	 During the Term of Pledge, the Pledgors and Party C severally and jointly undertake to the Pledgee that:

  

	6.1.1.	 Without the prior written consent of the Pledgee, the Pledgors shall not transfer the Pledged Share of
Property, create or permit to be created any security interest or other encumbrances on the Pledged Share of Property, except for the performance of the Transaction Documents. 

 

	6.1.2.	 The Pledgors and Party C shall comply with the provisions of all the laws and regulations relating to the
pledge of rights, and shall, within five (5) days upon receipt of any notice, order or recommendation issued or promulgated by the relevant competent authorities regarding the Pledge, present such notice, order or recommendation to the Pledgee,
and concurrently comply with such notice, order or recommendation, or object thereto upon the reasonable request or consent of the Pledgee. 

  

	6.1.3.	 The Pledgors and Party C shall promptly notify the Pledgee of any event or notice received by the Pledgors that
may have an impact on the Pledged Share of Property or any portion thereof, and that may change any undertakings and obligations of the Pledgors hereunder or may have an impact on the fulfillment of any obligations by the Pledgors hereunder.

  

	6.1.4.	 Party C shall complete its business term extension registration formalities three (3) months prior to the
expiry of its business term such that the validity of this Agreement shall be maintained. 

  

	6.2.	 The Pledgors agree that the rights granted to the Pledgee in respect of the Pledge hereunder shall not be
interrupted or harmed by any legal procedure initiated by the Pledgors, any successors of the Pledgors or their entrusting party or any other persons. 

  

	6.3.	 The Pledgors undertake to the Pledgee that in order to protect or perfect the security for the Contractual
Obligations and the Secured Indebtedness under this Agreement, the Pledgors shall execute in good faith and cause other parties who have interests in the Pledge to execute all the certificates of rights, agreements, and/or perform and procure other
parties who have interests in the Pledge to perform acts as required by the Pledgee, facilitate the exercise of the Pledgee’s rights granted hereunder and enter into all relevant documents regarding ownership of the Pledged Share of Property
with the Pledgee or any person (individuals or legal persons) designated by the Pledgee, as well as provide the Pledgee with all notices, orders and decisions regarding the Pledge as required by the Pledgee within a reasonable period of time.

  
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	6.4.	 The Pledgors hereby undertake to the Pledgee to comply with and perform all the undertakings, representations
and warranties and terms hereunder. In the event that the Pledgors fail to perform or fail to fully perform such undertakings, representations and warranties and terms hereunder, the Pledgors shall indemnify the Pledgee against all the losses
resulting therefrom. 

  

	7.	 Event of Default 

 

	7.1.	 Each of the following circumstances shall constitute an Event of Default: 

 

	7.1.1.	 The Pledgors breach any of its obligations under the Transaction Documents and/or this Agreement.

  

	7.1.2.	 Party C breaches any of its obligations under the Transaction Documents and/or this Agreement.

  

	7.2.	 Should there arises any event set forth in Section 7.1 or any circumstance that may result in the
foregoing events, the Pledgors and Party C shall immediately notify the Pledgee in writing. 

  

	7.3.	 Unless an Event of Default set forth in this Section 7.1 has been remedied at the request of the Pledgee
within twenty (20) days upon receipt of the notice of the Pledgee to the Pledgors and/or Party C requesting the rectification of such Event of Default, the Pledgee may issue a Notice of Default to the Pledgors in writing at any time thereafter,
requesting the exercise of the Pledge in accordance with Section 8 hereof. 

  

	8.	 Exercise of the Pledge 

 

	8.1.	 The Pledgee shall issue a Notice of Default to the Pledgors for the exercise of the Pledge.

  

	8.2.	 Subject to the provisions of Section 7.3, the Pledgee may exercise its right to dispose of the Pledge at
any time after the issuance of the Notice of Default in accordance with Section 8.1. Upon the Pledgee’s exercise of its right to dispose of the Pledge, the Pledgors shall no longer own any right and interest in respect of the Pledged Share
of Property. 

  

	8.3.	 Upon the issuance of the Notice of Default in accordance with Section 8.1, the Pledgee is entitled to
exercise all the remedies, rights and powers available to it under the PRC laws, the Transaction Documents and this Agreement, including without limitation to converse, auction or sell the Pledged Share of Property for prior satisfaction of
indebtedness. The Pledgee shall not be held liable for any losses arising from its reasonable exercise of such rights and powers. 

  
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	8.4.	 The proceeds received by the Pledgee as a result of the exercise of the Pledge shall be first applied towards
payment of the taxes and expenses payable in connection with the disposal of the Pledged Share of Property and the performance of the Contractual Obligations and the repayment of the Secured Indebtedness to the Pledgee. Any remaining balance after
the deduction of the foregoing payments, if any, shall be returned to the Pledgors or any other person who is entitled to such balance under applicable laws and regulations, or be deposited with the notary public at the place where the Pledgee is
located, any costs incurred arising out of such deposit shall be borne by the Pledgors; and to the extent permitted by the PRC laws, the Pledgors shall unconditionally donate such balance to the Pledgee or any person designated by the Pledgee.

  

	8.5.	 The Pledgee shall be entitled to elect to exercise, simultaneously or successively, any of its breach of
contract remedies; the Pledgee shall not be required to first exercise other breach of contract remedies prior to exercising its right to converse, auction or sell the Pledged Share of Property hereunder. 

 

	8.6.	 The Pledgee shall be entitled to designate in writing its legal counsel or other agents to exercise on its
behalf the Pledge, and neither the Pledgors nor Party C shall object thereto. 

  

	8.7.	 When the Pledgee disposes of the Pledge in accordance with this Agreement, the Pledgors and Party C shall
provide necessary assistance to the Pledgee for its exercise of the Pledge. 

  

	9.	 Default Liabilities 

 

	9.1.	 In the event that the Pledgors or Party C materially breach any provision under this Agreement, the Pledgee is
entitled to terminate this Agreement and/or claim damages from the Pledgors or Party C; this Section 9 shall not preclude any other rights entitled to the Pledgee as provided under this Agreement. 

 

	9.2.	 The Pledgors or Party C may not terminate or cancel this Agreement in any event unless otherwise provided under
the laws. 

  

	10.	 Assignment 

  

	10.1.	 The Pledgors and Party C shall not donate, transfer or dispose of their rights and obligations under this
Agreement without prior written consent of the Pledgee. 

  

	10.2.	 This Agreement shall be binding upon the Pledgors and its successors and any permitted assignees, and effective
upon the Pledgee and each of its successors and assignees. 

  
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	10.3.	 The Pledgee may assign any or all of its rights and obligations under the Transaction Documents and this
Agreement to any person designated by it at any time. In this case, the assignee shall enjoy and assume the rights and obligations of the Pledgee under the Transaction Documents and this Agreement as if the assignee were a party hereto or thereto,
as applicable. 

  

	10.4.	 In the event of a change of Pledgee due to assignment, the Pledgors shall, at the request of the Pledgee,
execute a new pledge agreement with the new pledgee with the same terms and conditions as this Agreement, and register such new pledge with the relevant administration for industry and commerce. 

 

	10.5.	 The Pledgors and Party C shall strictly comply with the provisions of this Agreement and other relevant
agreements to which any Party is a party, including the Transaction Documents, and perform the obligations thereunder, and refrain from any action/omission that may affect the effectiveness and enforceability thereof. Unless with the written
instructions of the Pledgee, the Pledgors shall not exercise their remaining rights in respect of the Pledged Share of Property. 

  

	11.	 Termination 

  

	11.1.	 Upon the full and complete performance by the Pledgors and Party C of all of their Contractual Obligations and
full satisfaction of the Secured Indebtedness, the Pledgee shall, upon the Pledgors’ request, release the Pledge of the Pledged Share of Property hereunder and cooperate with the Pledgors in relation to both the deregistration of the Pledge of
the Pledged Share of Property in the shareholders’ register of Party C and the deregistration of the Pledge of the Pledged Share of Property with the relevant administration of industry and commerce. 

 

	11.2.	 The provisions under Section 9, Section 13, Section 14 and this Section 11.2 shall survive
the termination of this Agreement. 

  

	12.	 Costs and Other Expenses 

All costs and actual expenses arising in connection with this Agreement, including without limitation the legal fees, processing fees, stamp
duty, any other taxes and expenses, shall be borne by Party C. 

  
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	13.	 Confidentiality 

The Parties acknowledge and confirm that the terms of this Agreement and any oral or written information exchanged among the Parties in
connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall keep all such confidential information confidential, and shall not, without prior written consent of the other Party,
disclose any confidential information to any third parties, except for information: (a) that is or will be available to the public (other than through the unauthorized disclosure to the public by the Party receiving confidential information);
(b) that is required to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) that is disclosed by any Party to its shareholders, partners,
authorized representative of executive partners, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, partners, authorized representative of executive partners,
directors, employees, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to the terms set forth in this Section. Disclosure of any confidential information by the shareholders, partners, authorized
representative of executive partners, directors, employees or entities engaged by any Party shall be deemed as disclosure of such confidential information by such Party, which Party shall be held liable for breach of contract. 

 

	14.	 Governing Law and Disputes Resolution 

 

	14.1.	 The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the
resolution of any disputes hereunder shall be governed by the laws of the PRC. 

  

	14.2.	 Any disputes arising in connection with the implementation and performance of this Agreement shall be settled
through friendly consultations among the Parties, and where such disputes are still unsolved within thirty (30) days upon issuance of the written notice by one Party to the other Parties for consultations, such disputes shall be submitted by
either Party to the China International Economic and Trade Arbitration Commission for arbitration in accordance with its arbitration rules. The arbitration shall take place in Beijing. The arbitration award shall be final and binding upon all the
Parties. 

  

	14.3.	 The Parties agree that the arbitral tribunal or the arbitrator shall have the right to award any remedies in
accordance with the terms hereunder and applicable PRC laws, including without limitation temporary and permanent injunctive remedies (as required by the business operation of Party C or compulsory transfer of the assets), the specific performance
of the Contractual Obligations, the remedies in respect of Party C’s share of property or real estates, and the liquidation orders against Party C. 

  

	14.4.	 To the extent permitted by PRC laws, pending the formation of an arbitral tribunal or under the appropriate
circumstances, the Parties are entitled to resort to a court of competent jurisdiction for temporary injunctive remedies or other temporary remedies to support the arbitration. In this regard, the Parties reached a consensus that to the extent as
permitted by applicable laws, the courts in Hong Kong, the Cayman Islands, the PRC and the place where Party C’s major assets are located shall be deemed to have jurisdiction. 

  
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	14.5.	 Upon the occurrence of any disputes arising from the interpretation and performance of this Agreement or during
the pending arbitration of any disputes, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights and perform their respective obligations hereunder. 

 

	15.	 Notices 

  

	15.1.	 All notices and other communications required or permitted to be given pursuant to this Agreement shall be
delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the designated address of such party as listed below. A confirmation copy of each notice shall also be sent by E-mail. The dates on which notices shall be deemed to have been effectively delivered shall be determined as follows: 

  

	15.2.	 Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed
effectively delivered on the date of receipt or refusal at the address specified for notices. 

  

	15.3.	 Notices given by facsimile transmission shall be deemed effectively delivered on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission). 

  

	15.4.	 For the purpose of notification, the addresses of the Parties are as follows: 

Party A: Tencent Music (Beijing) Co., Ltd. 

Address: 5th Floor, C7, South District, Office Building, China National Convention Center, No. 7 Tianchen East Road, Chaoyang
District, Beijing 
 Attention: TME Legal Management Department - Investment M&A 

E-mail:
[                    ] 
 Party B:

 Name: Beijing Gongse Enterprise Management Co., Ltd. 

Address: 5th Floor, South District, Office Building, China National Convention Center, No. 7 Tianchen East Road, Chaoyang District,
Beijing 
 Attention: TME Legal Management Department - Investment M&A 

E-mail:
[                    ] 

  
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 Name: Yang Qihu 

Address: 5th Floor, South District, Office Building, China National Convention Center, No. 7 Tianchen East Road, Chaoyang District,
Beijing 
 E-mail:
[                    ] 
 Name:
Gu Dejun 
 Address: 17th Floor, Songri Dingsheng Building, No.9996 Shennan Road, Nanshan District, Shenzhen 

E-mail:
[                    ] 
 Name:
Zhou Jie 
 Address: 17F, Songri Dingsheng Building, No. 9996, Shennan Road, Nanshan District, Shenzhen 

E-mail:
[                    ] 
 Name: Chen
Xing 
 Address: 8th Floor, South District, Office Building, China National Convention Center, No. 7 Tianchen East Road,
Chaoyang District, Beijing 
 Email:
[                    ] 
 Name:
Liang Yunheng 
 Address: 20F, Songri Dingsheng Building, No. 9996, Shennan Road, Nanshan District, Shenzhen 

E-mail:
[                    ] 
 Party C:
Beijing Shangqin Culture Management Partnership (Limited Partnership) 
 Address: 5th Floor, South District, Office Building,
China National Convention Center, No. 7 Tianchen East Road, Chaoyang District, Beijing 
 Attention: TME Legal Management
Department - Investment M&A 
 E-mail:
[                    ] 
  

	15.5.	 Each Party may at any time change its address for notices by delivering a notice to the other Parties in
accordance with this Section. 

  

	16.	 Severability 

In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or unenforceable in any aspect in
accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good faith to replace such invalid,
illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as close as possible to the
economic effect of those invalid, illegal or unenforceable provisions. 

  
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	17.	 Effectiveness 

 

	17.1.	 This Agreement comes into effect upon duly execution by all the Parties. 

 

	17.2.	 Any amendments, changes and supplements to this Agreement shall be in writing and shall become effective upon
signing or stamping by the Parties and completion of the governmental registration procedures (if applicable) in accordance with the regulations. 

  

	18.	 Language and Counterparts 

This Agreement is written in Chinese in nine (9) originals, with each of the Pledgee, the Pledgors (Beijing Gongse Enterprise Management
Co., Ltd., Yang Qihu, Gu Dejun, Zhou Jie, Chen Xing and Liang Yunheng) and Party C holding one (1) original, and the other one original will be submitted for registration. 

[The remainder of this page is intentionally left blank] 

  
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 IN WITNESS HEREOF, the Parties have caused this Share of Property Pledge Agreement to be
executed by their respective authorized representative on the date first above written. 
  

	
	Party A: Tencent Music (Beijing) Co., Ltd.
	[Company Chop is affixed]
	Signature: /s/ Yang Qihu
	Name: Yang Qihu
	Title: Legal Representative

  

							
	 Party B:

				
	Name:	 	Beijing Gongse Enterprise Management Co., Ltd.	 	By:	 	/s/ Gu Dejun
	[Company Chop is affixed]	 	Name:	 	Gu Dejun
	By:	 	/s/ Gu Dejun	 		 	
	Name:	 	Gu Dejun	 		 	
	Title:	 	Legal Representative
				
	By:	 	/s/ Zhou Jie	 	By:	 	/s/ Chen Xing
	Name:	 	Zhou Jie	 	Name:	 	Chen Xing
				
	By:	 	/s/ Liang Yunheng	 	By:	 	/s/ Yang Qihu
	Name:	 	Liang Yunheng	 	Name:	 	Yang Qihu
		
	Party C:	 	Beijing Shangqin Culture Management Partnership (Limited Partnership)
	[Partnership Chop is affixed]
	By:	 	/s/ Yang Qihu	 		 	
	Name:	 	Yang Qihu	 		 	
	Title:	 	Authorized Representative of Executive Partner

 Signature Page of Share of Property Pledge Agreement among Tencent Music (Beijing) Co., Ltd., Beijing Gongse
Enterprise Management Co., Ltd., Yang Qihu, Gu Dejun, Zhou Jie, Chen Xing, Liang Yunheng and Beijing Shangqin Culture Management Partnership (Limited Partnership)EX-4.59

 Exhibit 4.59 

Loan Agreement 
 This Loan
Agreement (the “Agreement”) is entered into by and between the following Parties on July 14, 2020 in Beijing, People’s Republic of China (the “PRC”): 

(1) Tencent Music (Beijing) Co., Ltd. (the “Lender”), a wholly foreign-owned enterprise incorporated and existing
under the laws of the PRC, with its registered address at Room 303, 3rd Floor of 101, -2nd to 8th Floor, No.7 Building, East Tianchen Road, Chaoyang District, Beijing; 

(2) Beijing Gongse Enterprise Management Co., Ltd. (the “Borrower”), a limited liability company, organized and
existing under the laws of the PRC, with its address at Room 0142, 4th Floor, Block A, Building 24, No. 68 Beiqing Road, Haidian District, Beijing 

The Lender and the Borrower shall hereinafter be referred to as a “Party” respectively and as the “Parties”
collectively. 
 Whereas: 
  

	1.	 As of the date of this Agreement, the Borrower holds 0.0005% of the share of property in Beijing Shangqin
Culture Management Partnership (Limited Partnership) (the “Beijing Shangqin”). All the existing and future partnership rights and interests the Borrower holds in the Beijing Shangqin are referred to as the “Borrower’s
Share of Property”; 

  

	2.	 The Lender agrees to provide a loan in the amount of RMB 5 to the Borrower for the purposes as specified in
this Agreement. 

 Upon friendly negotiation, the Parties have reached the following agreements for their mutual
compliance: 
  

	1	 Loan 

  

	 	1.1	 The Lender agrees to provide a loan in the amount of RMB 5 to the Borrower in accordance with the terms hereof
(the “Loan”). During the term of this Agreement, the Lender shall provide to the Borrower the respective amounts within one (1) month upon receipt of the notice by the Borrower requesting the provision of all or part of the
Loan. The Loan shall be a long-term loan. During the term of the Loan, if any of the following events occurs, the Lender shall repay the Loan immediately in advance: 

 

	 	1.1.1	 30 days after the Borrower’s receipt of the written notice by the Lender requesting the repayment of the
Loan; 

  
 1 

	 	1.1.2	 the Borrower dies or becomes a person without capacity or with limited capacity for civil acts;

  

	 	1.1.3	 the Borrower is no longer the partner of the Beijing Shangqin, regardless of the reasons thereof;

  

	 	1.1.4	 the Borrower or its shareholders, directors, supervisors and senior management commit a crime or is involved in
a crime; 

  

	 	1.1.5	 according to the applicable PRC laws, the foreigners may invest in the existing major business of the Beijing
Shangqin in a manner of controlling or wholly owned shareholding and the relevant authorities in PRC begin to approve such business, and the Lender decides to exercise its right of exclusive option in accordance with the Exclusive Option Agreement
regarding all share of property and assets of Beijing Shangqin (together with its amendments from time to time, the “Exclusive Option Agreement”) to which it is a party. 

 

	 	1.2	 The Loan by the Lender under this Agreement only applies to the Borrower himself, not his successors or
assignees. 

  

	 	1.3	 The Borrower agrees to accept the aforesaid loan provided by the Lender, and hereby agrees and warranties to
use the Loan to pay for its investment or increase in the registered capital of the Beijing Shangqin or the working capital of the Beijing Shangqin. Unless with prior written consent of the Lender, the Borrower will not use the Loan for any other
purpose. 

  

	 	1.4	 The Lender and the Borrower hereby agree and confirm that the Borrower may repay the loan only by the following
methods as required by the Lender: according to the Lender’s right to purchase the Borrower’s Share of Property under the Exclusive Option Agreement, transfer all the share of property in the Beijing Shangqin to the Lender or any person
(legal person or individual) as designated by the Lender, and use any proceeds obtained through the transfer of share of property in the Beijing Shangqin (to the extent as permitted) to repay the Loan in accordance with this Agreement to the Lender
in the method as designated by the Lender. 

  

	 	1.5	 The Lender and the Borrower hereby agree and confirm that, to the extent as permitted by the applicable laws,
the Lender shall be entitled to, but not be obliged to, purchase or designate any person (legal person or individual) to purchase all or part of the Borrower’s Share of Property at any time, at a price as specified in the Exclusive Option
Agreement. 

  
 2 

	 	1.6	 The Borrower also warranties to execute an irrevocable power of attorney (together with its amendments from
time to time, the “Power of Attorney”), which authorizes the Lender or a legal person or an individual as designated by the Lender to exercise all his or her rights as a partner in the Beijing Shangqin. 

 

	 	1.7	 The Loan under this Agreement will be deemed as an interest-free loan if the price to transfer the
Borrower’s Share of Property from the Borrower to the Lender or any person as designated by the Lender is equal to or less than the amount of the Loan under this Agreement. However, if such transfer price exceeds the amount of the Loan under
this Agreement, the exceeding amount will be deemed as the interest upon the Loan under this Agreement and repaid to the Lender from the Borrower. 

  

	2	 Representations and Warranties 

 

	 	2.1	 The Lender represents and warrants to the Borrower that from the date of this Agreement until termination
hereof: 

  

	 	2.1.1	 it is a company duly incorporated and validly existing under the PRC laws; 

 

	 	2.1.2	 it has the power to execute and perform this Agreement. Its execution and performance of this Agreement are in
compliance with its business scope, articles of association or other organizational documents, and it has received all approvals and authorities necessary and appropriate to execute and perform this Agreement; and 

 

	 	2.1.3	 this Agreement, once executed, becomes legal, valid and enforceable obligations upon the Lender.

  

	 	2.2	 The Borrower represents and warrants that from the date of this Agreement until termination hereof:

  

	 	2.2.1	 the Borrower is a company duly incorporated and validly existing under the PRC laws; 

 

	 	2.2.2	 the Borrower has the power to execute and perform this Agreement, and has received all approvals and
authorities necessary and appropriate to execute and perform this Agreement; 

  

	 	2.2.3	 this Agreement, once executed, becomes legal, valid and enforceable obligations upon the Borrower; and

  
 3 

	 	2.2.4	 there is no existing or potential dispute, suit, arbitration, administrative proceeding or any other legal
proceeding in which the Borrower is involved. 

  

	3	 Covenants from the Borrower 

 

	 	3.1	 The Borrower covenants in his capacity as the partner of the Beijing Shangqin that during the term of this
Agreement he will procure the Beijing Shangqin: 

  

	 	3.1.1	 to strictly comply with the provisions of the Exclusive Option Agreement and the exclusive business cooperation
agreement (together with its amendments from time to time, the “Exclusive Business Cooperation Agreement”) to which it is a party, and to refrain from any action/omission that may affect the effectiveness and enforceability thereof;

  

	 	3.1.2	 to execute any contract or agreement regarding the business cooperation with the Lender (or any party as
designated by the Lender) upon the request of the Lender (or any party as designated by the Lender), and to ensure the strict performance of such contract agreement; 

 

	 	3.1.3	 to provide to the Lender any and all information regarding its operations and financial conditions upon the
request of the Lender; 

  

	 	3.1.4	 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative
proceeding regarding its assets, business and income; 

  

	 	3.1.5	 to appoint any person as nominated by the Lender to its board upon the request of the Lender.

  

	 	3.2	 The Borrower covenants during the term of this Agreement: 

 

	 	3.2.1	 to procure, at his best efforts, the Beijing Shangqin to conduct its major business, manage operation of
subsidiary companies. The specific business scope shall be subject to the business license and the agreement among the Borrower, Beijing Shangqin and the Lender; 

 

	 	3.2.2	 at the request of the Lender, execute Beijing Shangqin’s partnership affairs in accordance with Beijing
Shangqin’s partnership agreement and its supplementary documents; 

  
 4 

	 	3.2.3	 to strictly comply with the provisions of this Agreement, the Power of Attorney, the Share of Property Pledge
Agreement (together with its amendments from time to time, the “Share of Property Pledge Agreement”) and the Exclusive Option Agreement to which he as a party, perform the obligations thereunder, and to refrain from any
action/omission that may affect the effectiveness and enforceability thereof; 

  

	 	3.2.4	 except as provided under the Share of Property Pledge Agreement, not to sell, transfer, pledge or otherwise
dispose any legal or beneficial interest of the Borrower’s Share of Property, or allow creation of any other security interests thereupon; 

  

	 	3.2.5	 to procure the partners and/or the board of directors of the Beijing Shangqin not to approve any sale,
transfer, pledge or otherwise disposal of any legal or beneficial interest of the Borrower’s Share of Property, or creation of any other security interests thereupon without prior written consent from the Lender, except to the Lender or its
designated person; 

  

	 	3.2.6	 to procure the partners and/or the board of the directors of the Beijing Shangqin not to approve its merger or
association with, or acquisition of or investment in any person without prior written consent from the Lender; 

  

	 	3.2.7	 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative
proceeding regarding the Borrower’s Share of Property; 

  

	 	3.2.8	 to execute any document, conduct any action, and make any claim or defense, necessary or appropriate to
maintain his or her ownership of the Borrower’s Share of Property; 

  

	 	3.2.9	 not to make any act and/or omission which may affect any asset, business or liability of the Beijing Shangqin
without prior written consent from the Lender; 

  

	 	3.2.10	 to appoint any person as nominated by the Lender to the board of the Beijing Shangqin upon the request of the
Lender; 

  

	 	3.2.11	 to the extent as permitted under the PRC laws and upon the request of the Lender at any time, to transfer
unconditionally and immediately the Borrower’s Share of Property to the Lender or any person as designated by it, and procure any other partner of the Beijing Shangqin to waive the right of first refusal regarding such transfer of share of
property under this Section; 

  
 5 

	 	3.2.12	 to the extent permitted under the PRC laws and upon the request of the Lender at any time, to procure any other
partner of the Beijing Shangqin to transfer unconditionally and immediately all the share of property owned by such partner to the Lender or any person as designated by it, and the Borrower hereby waives his or her right of first refusal regarding
such transfer of share of property under this Section; 

  

	 	3.2.13	 if the Lender purchases the Borrower’s Share of Property from the Borrower pursuant to the Exclusive
Option Agreement, to use the consideration of such purchase to repay the Loan to the Lender on priority; and 

  

	 	3.2.14	 not to supplement, revise or amend its articles of association in any way, increase or decrease its registered
capital, or change its shareholding structure in any way without prior written consent from the Lender. 

  

	4	 Default Liabilities 

 

	 	4.1	 In the event that the Borrower materially breaches any provision under this Agreement, the Lender is entitled
to terminate this Agreement and claim damages from the Borrower; this Section 4.1 shall not preclude any other rights entitled to the Lender as provided under this Agreement. 

 

	 	4.2	 The Borrower may not terminate or cancel this Agreement in any event unless otherwise provided under the laws.

  

	 	4.3	 If the Borrower fails to repay the Loan pursuant to the terms under this Agreement, he will be liable for a
penalty interest accrued upon the amount due and payable at a daily interest rate of 10⁄000 until the Loan as well as any penalty interest and any other amount
accrued thereupon are fully repaid by the Borrower. 

  

	5	 Notices 

  

	 	5.1	 All notices and other communications required or permitted to be given pursuant to this Agreement shall be
delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the designated address of such party as listed below. A confirmation copy of each notice shall also be sent by E-mail. The dates on which notices shall be deemed to have been effectively delivered shall be determined as follows: 

  

	 	5.1.1	 Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed
effectively delivered upon the delivery. 

  
 6 

	 	5.1.2	 Notices given by facsimile transmission shall be deemed effectively delivered on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission). 

  

	 	5.2	 For the purpose of notification, the addresses of the Parties are as follows: 

The Lender: Tencent Music (Beijing) Co., Ltd. 

Address: 5th Floor, South District, National Convention Center, No. 7,
Tianchen East Road, Chaoyang District, Beijing 
 Attention: TME Legal Management Department - Investment M&A 

Email: [            ] 

The Borrower: Beijing Gongse Enterprise Management Co., Ltd. 

Address: 5th Floor, South District, National Convention Center, No. 7,
Tianchen East Road, Chaoyang District, Beijing 
 Attention: TME Legal Management Department - Investment M&A 

Email: [            ] 

 

	 	5.3	 Each Party may at any time change its address for notices by delivering a notice to the other Party in
accordance with this Section. 

  

	6	 Confidentiality 

The Parties acknowledge and confirm that the terms of this Agreement and any oral or written information exchanged among the Parties in
connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall keep all such confidential information confidential, and shall not, without prior written consent of the other Party,
disclose any confidential information to any third parties, except for information: (a) that is or will be available to the public (other than through the unauthorized disclosure to the public by the Party receiving confidential information);
(b) that is required to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) that is disclosed by any Party to its shareholders, partners and
their authorized representative, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, partners and their authorized representative, directors, employees, legal
counsels or financial advisors shall be bound by the confidentiality obligations similar to the terms set forth in this Section. Disclosure of any confidential information by the shareholders, partners and their authorized representative, directors,
employees or entities engaged by any Party shall be deemed as disclosure of such confidential information by such Party, which Party shall be held liable for breach of contract. 

  
 7 

	7	 Governing Law and Disputes Resolution 

 

	 	7.1	 The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the
resolution of any disputes hereunder shall be governed by the PRC laws. 

  

	 	7.2	 Any disputes arising in connection with the implementation and performance of this Agreement shall be settled
through friendly consultations among the Parties, and where such disputes are still unsolved within thirty (30) days upon issuance of the written notice by one Party to the other Party for consultations, such disputes shall be submitted by
either Party to the China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules. The arbitration shall take place in Beijing. The arbitration award shall be final and binding
upon all the Parties. 

  

	 	7.3	 Upon the occurrence of any disputes arising from the interpretation and performance of this Agreement or during
the pending arbitration of any disputes, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights and perform their respective obligations hereunder. 

 

	8	 Miscellaneous 

 

	 	8.1	 This Agreement shall be effective as of the date of its execution and expire until the Parties have performed
their respective obligations under this Agreement. 

  

	 	8.2	 This Agreement is written in Chinese in two (2) originals, with each of the Lender and the Borrower
holding one original. 

  

	 	8.3	 The Parties may amend and supplement this Agreement in writing. Any amendment and/or supplement to this
Agreement by the Parties is an integral part of and has the same effect with this Agreement. 

  

	 	8.4	 In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or
unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good
faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as
close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

  
 8 

	 	8.5	 The attachment to this Agreement (if any) is an integral part of and has the same effect with this Agreement.

  

	 	8.6	 Any obligation that occurs or becomes due under this Agreement prior to the expiry of this Agreement or early
termination shall survive the expiration or early termination of this Agreement. The provisions under Section 4, Section 6, Section 7 and this Section 8.6 shall survive the termination of this Agreement. 

[The remainder of this page is intentionally left blank] 

  
 9 

 IN WITNESS HEREOF, the Parties have caused this Loan Agreement to be executed by their
respective authorized representative on the date first above written. 
 The Lender: Tencent Music (Beijing) Co., Ltd. 

[Company Chop is affixed] 
 Signature: /s/ Yang Qihu

 Name: Yang Qihu 
 Title: Legal Representative

 The Borrower: Beijing Gongse Enterprise Management Co., Ltd. 

[Company Chop is affixed] 
 Signature: /s/ Gu Dejun

 Name: Gu Dejun 
 Title: Legal Representative

  
 Signature Page of Loan
Agreement between Tencent Music (Beijing) Co., Ltd. and 
 Beijing Gongse Enterprise Management Co., Ltd. 

 Loan Agreement 

This Loan Agreement (the “Agreement”) is entered into by and between the following Parties on July 14, 2020 in Beijing,
People’s Republic of China (the “PRC”): 
 (1) Tencent Music (Beijing) Co., Ltd. (the
“Lender”), a wholly foreign-owned enterprise incorporated and existing under the laws of the PRC, with its registered address at Room 303, 3rd Floor of 101, -2nd to 8th Floor, No.7 Building,
East Tianchen Road, Chaoyang District, Beijing; 
 (2) Yang Qihu (the “Borrower”), a Chinese citizen with
Identification No. [            ]. 
 The Lender and the Borrower shall
hereinafter be referred to as a “Party” respectively and as the “Parties” collectively. 
 Whereas: 

 

	1.	 As of the date of this Agreement, the Borrower holds 19.9999% share of property in Beijing Shangqin Culture
Management Partnership (Limited Partnership) (the “Beijing Shangqin”). All the existing and future share of property the Borrower holds in Beijing Shangqin are referred to as the “Borrower’s Share of Property”;

  

	2.	 The Lender agrees to provide a loan in the amount of RMB 199,999 to the Borrower for the purposes as specified
in this Agreement. 

 Upon friendly negotiation, the Parties have reached the following agreements for their mutual
compliance: 
  

	1	 Loan 

  

	 	1.1	 The Lender agrees to provide a loan in the amount of RMB 199,999 to the Borrower in accordance with the terms
hereof (the “Loan”). During the term of this Agreement, the Lender shall provide to the Borrower the respective amounts within one (1) month upon receipt of the notice by the Borrower requesting the provision of all or part of
the Loan. The Loan shall be a long-term loan. During the term of the Loan, if any of the following events occurs, the Lender shall repay the Loan immediately in advance: 

 

	 	1.1.1	 30 days after the Borrower’s receipt of the written notice by the Lender requesting the repayment of the
Loan; 

  

	 	1.1.2	 the Borrower dies or becomes a person without capacity or with limited capacity for civil acts;

  
 1 

	 	1.1.3	 the Borrower is no longer the partner of the Beijing Shangqin or its affiliates, or resigns from the Lender,
the Beijing Shangqin or its affiliates, regardless of the reasons thereof; 

  

	 	1.1.4	 the Borrower commit a crime or is involved in a crime; 

 

	 	1.1.5	 according to the applicable PRC laws, the foreigners may invest in the existing major business of the Beijing
Shangqin in a manner of controlling or wholly owned shareholding and the relevant authorities in PRC begin to approve such business, and the Lender decides to exercise its right of exclusive option in accordance with the Exclusive Option Agreement
(together with its amendments from time to time, the “Exclusive Option Agreement”) to which it is a party. 

  

	 	1.2	 The Loan by the Lender under this Agreement only applies to the Borrower himself, not his successors or
assignees. 

  

	 	1.3	 The Borrower agrees to accept the aforesaid loan provided by the Lender, and hereby agrees and warranties to
use the Loan to pay for its investment or increase in the registered capital of the Beijing Shangqin or the working capital of the Beijing Shangqin. Unless with prior written consent of the Lender, the Borrower will not use the Loan for any other
purpose. 

  

	 	1.4	 The Lender and the Borrower hereby agree and confirm that the Borrower may repay the loan only by the following
methods as required by the Lender: according to the Lender’s right to purchase the Borrower’s Share of Property under the Exclusive Option Agreement, transfer all the share of property in the Beijing Shangqin to the Lender or any person
(legal person or individual) as designated by the Lender, and use any proceeds obtained through the transfer of share of property in the Beijing Shangqin (to the extent as permitted) to repay the Loan in accordance with this Agreement to the Lender
in the method as designated by the Lender. 

  

	 	1.5	 The Lender and the Borrower hereby agree and confirm that, to the extent as permitted by the applicable laws,
the Lender shall be entitled to, but not be obliged to, purchase or designate any person (legal person or individual) to purchase all or part of the Borrower’s Share of Property at any time, at a price as specified in the Exclusive Option
Agreement. 

  

	 	1.6	 The Borrower also warranties to execute an irrevocable power of attorney (together with its amendments from
time to time, the “Power of Attorney”), which authorizes the Lender or a legal person or an individual as designated by the Lender to exercise all his or her rights as a partner in the Beijing Shangqin. 

  
 2 

	 	1.7	 The Loan under this Agreement will be deemed as an interest-free loan if the price to transfer the
Borrower’s Share of Property from the Borrower to the Lender or any person as designated by the Lender is equal to or less than the amount of the Loan under this Agreement. However, if such transfer price exceeds the amount of the Loan under
this Agreement, the exceeding amount will be deemed as the interest upon the Loan under this Agreement and repaid to the Lender from the Borrower. 

  

	2	 Representations and Warranties 

 

	 	2.1	 The Lender represents and warrants to the Borrower that from the date of this Agreement until termination
hereof: 

  

	 	2.1.1	 it is a company duly incorporated and validly existing under the PRC laws; 

 

	 	2.1.2	 it has the power to execute and perform this Agreement. Its execution and performance of this Agreement are in
compliance with its business scope, articles of association or other organizational documents, and it has received all approvals and authorities necessary and appropriate to execute and perform this Agreement; and 

 

	 	2.1.3	 this Agreement, once executed, becomes legal, valid and enforceable obligations upon the Lender.

  

	 	2.2	 The Borrower represents and warrants that from the date of this Agreement until termination hereof:

  

	 	2.2.1	 the Borrower has the power to execute and perform this Agreement, and has received all approvals and
authorities necessary and appropriate to execute and perform this Agreement; 

  

	 	2.2.2	 this Agreement, once executed, becomes legal, valid and enforceable obligations upon the Borrower; and

  

	 	2.2.3	 there is no existing or potential dispute, suit, arbitration, administrative proceeding or any other legal
proceeding in which the Borrower is involved. 

  
 3 

	3	 Covenants from the Borrower 

 

	 	3.1	 The Borrower covenants in his capacity as the partner of the Beijing Shangqin that during the term of this
Agreement he will procure the Beijing Shangqin: 

  

	 	3.1.1	 to strictly comply with the provisions of the Exclusive Option Agreement and the exclusive business cooperation
agreement (together with its amendments from time to time, the “Exclusive Business Cooperation Agreement”) to which it is a party, and to refrain from any action/omission that may affect the effectiveness and enforceability thereof;

  

	 	3.1.2	 to execute any contract or agreement regarding the business cooperation with the Lender (or any party as
designated by the Lender) upon the request of the Lender (or any party as designated by the Lender), and to ensure the strict performance of such contract agreement; 

 

	 	3.1.3	 to provide to the Lender any and all information regarding its operations and financial conditions upon the
request of the Lender; 

  

	 	3.1.4	 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative
proceeding regarding its assets, business and income; 

  

	 	3.1.5	 to appoint any person as nominated by the Lender to its board upon the request of the Lender.

  

	 	3.2	 The Borrower covenants during the term of this Agreement: 

 

	 	3.2.1	 to procure, at his best efforts, the Beijing Shangqin to conduct its major business, manage operation of
subsidiary companies. The specific business scope shall be subject to the business license and the agreement among the Borrower, Beijing Shangqin and the Lender; 

 

	 	3.2.2	 to strictly comply with the provisions of this Agreement, the Power of Attorney, the Share of Property Pledge
Agreement (together with its amendments from time to time, the “Share of Property Pledge Agreement”) and the Exclusive Option Agreement to which he as a party, perform the obligations thereunder, and to refrain from any
action/omission that may affect the effectiveness and enforceability thereof; 

  

	 	3.2.3	 except as provided under the Share of Property Pledge Agreement, not to sell, transfer, pledge or otherwise
dispose any legal or beneficial interest of the Borrower’s Share of Property, or allow creation of any other security interests thereupon; 

  
 4 

	 	3.2.4	 to procure the partners and/or the board of directors of the Beijing Shangqin not to approve any sale,
transfer, pledge or otherwise disposal of any legal or beneficial interest of the Borrower’s Share of Property, or creation of any other security interests thereupon without prior written consent from the Lender, except to the Lender or its
designated person; 

  

	 	3.2.5	 to procure the partners and/or the board of the directors of the Beijing Shangqin not to approve its merger or
association with, or acquisition of or investment in any person without prior written consent from the Lender; 

  

	 	3.2.6	 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative
proceeding regarding the Borrower’s Share of Property; 

  

	 	3.2.7	 to execute any document, conduct any action, and make any claim or defense, necessary or appropriate to
maintain his or her ownership of the Borrower’s Share of Property; 

  

	 	3.2.8	 not to make any act and/or omission which may affect any asset, business or liability of the Beijing Shangqin
without prior written consent from the Lender; 

  

	 	3.2.9	 to appoint any person as nominated by the Lender to the board of the Beijing Shangqin upon the request of the
Lender; 

  

	 	3.2.10	 to the extent as permitted under the PRC laws and upon the request of the Lender at any time, to transfer
unconditionally and immediately the Borrower’s Share of Property to the Lender or any person as designated by it, and procure any other partner of the Beijing Shangqin to waive the right of first refusal regarding such transfer of share of
property under this Section; 

  

	 	3.2.11	 to the extent permitted under the PRC laws and upon the request of the Lender at any time, to procure any other
partner of the Beijing Shangqin to transfer unconditionally and immediately all the share of property owned by such partner to the Lender or any person as designated by it, and the Borrower hereby waives his or her right of first refusal regarding
such transfer of share of property under this Section; 

  

	 	3.2.12	 if the Lender purchases the Borrower’s Share of Property from the Borrower pursuant to the Exclusive
Option Agreement, to use the consideration of such purchase to repay the Loan to the Lender on priority; and 

  
 5 

	 	3.2.13	 not to supplement, revise or amend its articles of association in any way, increase or decrease its registered
capital, or change its shareholding structure in any way without prior written consent from the Lender. 

  

	4	 Default Liabilities 

 

	 	4.1	 In the event that the Borrower materially breaches any provision under this Agreement, the Lender is entitled
to terminate this Agreement and claim damages from the Borrower; this Section 4.1 shall not preclude any other rights entitled to the Lender as provided under this Agreement. 

 

	 	4.2	 The Borrower may not terminate or cancel this Agreement in any event unless otherwise provided under the laws.

  

	 	4.3	 If the Borrower fails to repay the Loan pursuant to the terms under this Agreement, he will be liable for a
penalty interest accrued upon the amount due and payable at a daily interest rate of 10⁄000 until the Loan as well as any penalty interest and any other amount
accrued thereupon are fully repaid by the Borrower. 

  

	5	 Notices 

  

	 	5.1	 All notices and other communications required or permitted to be given pursuant to this Agreement shall be
delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the designated address of such party as listed below. A confirmation copy of each notice shall also be sent by E-mail. The dates on which notices shall be deemed to have been effectively delivered shall be determined as follows: 

  

	 	5.1.1	 Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed
effectively delivered upon the delivery. 

  

	 	5.1.2	 Notices given by facsimile transmission shall be deemed effectively delivered on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission). 

  
 6 

	 	5.2	 For the purpose of notification, the addresses of the Parties are as follows: 

The Lender: Tencent Music (Beijing) Co., Ltd. 

Address: 5th Floor, South District, National Convention Center, No. 7,
Tianchen East Road, Chaoyang District, Beijing 
 Attention: TME Legal Management Department - Investment M&A 

Email: [            ] 

The Borrower: Yang Qihu 

Address: 5th Floor, South District, National Convention Center, No. 7,
Tianchen East Road, Chaoyang District, Beijing 
 Email: [            ] 

 

	 	5.3	 Each Party may at any time change its address for notices by delivering a notice to the other Party in
accordance with this Section. 

  

	6	 Confidentiality 

The Parties acknowledge and confirm that the terms of this Agreement and any oral or written information exchanged among the Parties in
connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall keep all such confidential information confidential, and shall not, without prior written consent of the other Party,
disclose any confidential information to any third parties, except for information: (a) that is or will be available to the public (other than through the unauthorized disclosure to the public by the Party receiving confidential information);
(b) that is required to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) that is disclosed by any Party to its shareholders, partners and
their authorized representative, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, partners and their authorized representative, directors, employees, legal
counsels or financial advisors shall be bound by the confidentiality obligations similar to the terms set forth in this Section. Disclosure of any confidential information by the shareholders, partners and their authorized representative, directors,
employees or entities engaged by any Party shall be deemed as disclosure of such confidential information by such Party, which Party shall be held liable for breach of contract. 

 

	7	 Governing Law and Disputes Resolution 

 

	 	7.1	 The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the
resolution of any disputes hereunder shall be governed by the PRC laws. 

  
 7 

	 	7.2	 Any disputes arising in connection with the implementation and performance of this Agreement shall be settled
through friendly consultations among the Parties, and where such disputes are still unsolved within thirty (30) days upon issuance of the written notice by one Party to the other Party for consultations, such disputes shall be submitted by
either Party to the China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules. The arbitration shall take place in Beijing. The arbitration award shall be final and binding
upon all the Parties. 

  

	 	7.3	 Upon the occurrence of any disputes arising from the interpretation and performance of this Agreement or during
the pending arbitration of any disputes, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights and perform their respective obligations hereunder. 

 

	8	 Miscellaneous 

 

	 	8.1	 This Agreement shall be effective as of the date of its execution and expire until the Parties have performed
their respective obligations under this Agreement. 

  

	 	8.2	 This Agreement is written in Chinese in two (2) originals, with each of the Lender and the Borrower
holding one original. 

  

	 	8.3	 The Parties may amend and supplement this Agreement in writing. Any amendment and/or supplement to this
Agreement by the Parties is an integral part of and has the same effect with this Agreement. 

  

	 	8.4	 In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or
unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good
faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as
close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

  

	 	8.5	 The attachments to this Agreement (if any) are an integral part of and has the same effect with this Agreement.

  

	 	8.6	 Any obligation that occurs or becomes due under this Agreement prior to the expiry of this Agreement or early
termination shall survive the expiration or early termination of this Agreement. The provisions under Section 4, Section 6, Section 7 and this Section 8.6 shall survive the termination of this Agreement. 

  
 8 

 [The remainder of this page is intentionally left blank] 

  
 9 

 IN WITNESS HEREOF, the Parties have caused this Loan Agreement to be executed by their
respective authorized representative on the date first above written. 
 The Lender: Tencent Music (Beijing) Co., Ltd. 

[Company chop is affixed] 
 Signature: /s/ Yang Qihu

 Name: Yang Qihu 
 Title: Legal Representative

 The Borrower: Yang Qihu 
 Signature: /s/ Yang
Qihu 

  
 Signature Page of Loan
Agreement between Tencent Music (Beijing) Co., Ltd. and Yang Qihu 

 Loan Agreement 

This Loan Agreement (the “Agreement”) is entered into by and between the following Parties on July 14, 2020 in Beijing,
People’s Republic of China (the “PRC”): 
 (1) Tencent Music (Beijing) Co., Ltd. (the
“Lender”), a wholly foreign-owned enterprise incorporated and existing under the laws of the PRC, with its registered address at Room 303, 3rd Floor of 101, -2nd to 8th Floor, No.7 Building,
East Tianchen Road, Chaoyang District, Beijing; 
 (2) Gu Dejun (the “Borrower”), a Chinese Citizen, with
Identification No. [                ]. 
 The Lender and the
Borrower shall hereinafter be referred to as a “Party” respectively and as the “Parties” collectively. 
 Whereas:

  

	1.	 As of the date of this Agreement, the Borrower holds 19.9999% share of property in Beijing Shangqin Culture
Management Partnership (Limited Partnership) (the “Beijing Shangqin”). All the existing and future share of property the Borrower holds in Beijing Shangqin are referred to as the “Borrower’s Share of Property”;

  

	2.	 The Lender agrees to provide a loan in the amount of RMB 199,999 to the Borrower for the purposes as specified
in this Agreement. 

 Upon friendly negotiation, the Parties have reached the following agreements for their mutual
compliance: 
  

	1	 Loan 

  

	 	1.1	 The Lender agrees to provide a loan in the amount of RMB 199,999 to the Borrower in accordance with the terms
hereof (the “Loan”). During the term of this Agreement, the Lender shall provide to the Borrower the respective amounts within one (1) month upon receipt of the notice by the Borrower requesting the provision of all or part of
the Loan. The Loan shall be a long-term loan. During the term of the Loan, if any of the following events occurs, the Lender shall repay the Loan immediately in advance: 

 

	 	1.1.1	 30 days after the Borrower’s receipt of the written notice by the Lender requesting the repayment of the
Loan; 

  

	 	1.1.2	 the Borrower dies or becomes a person without capacity or with limited capacity for civil acts;

  
 1 

	 	1.1.3	 the Borrower is no longer the partner of the Beijing Shangqin or its affiliates, or resigns from the Lender,
the Beijing Shangqin or its affiliates, regardless of the reasons thereof; 

  

	 	1.1.4	 the Borrower commit a crime or is involved in a crime; 

 

	 	1.1.5	 according to the applicable PRC laws, the foreigners may invest in the existing major business of the Beijing
Shangqin in a manner of controlling or wholly owned shareholding and the relevant authorities in PRC begin to approve such business, and the Lender decides to exercise its right of exclusive option in accordance with the Exclusive Option Agreement
(together with its amendments from time to time, the “Exclusive Option Agreement”) to which it is a party. 

  

	 	1.2	 The Loan by the Lender under this Agreement only applies to the Borrower himself, not his successors or
assignees. 

  

	 	1.3	 The Borrower agrees to accept the aforesaid loan provided by the Lender, and hereby agrees and warranties to
use the Loan to pay for its investment or increase in the registered capital of the Beijing Shangqin or the working capital of the Beijing Shangqin. Unless with prior written consent of the Lender, the Borrower will not use the Loan for any other
purpose. 

  

	 	1.4	 The Lender and the Borrower hereby agree and confirm that the Borrower may repay the loan only by the following
methods as required by the Lender: according to the Lender’s right to purchase the Borrower’s Share of Property under the Exclusive Option Agreement, transfer all the share of property in the Beijing Shangqin to the Lender or any person
(legal person or individual) as designated by the Lender, and use any proceeds obtained through the transfer of share of property in the Beijing Shangqin (to the extent as permitted) to repay the Loan in accordance with this Agreement to the Lender
in the method as designated by the Lender. 

  

	 	1.5	 The Lender and the Borrower hereby agree and confirm that, to the extent as permitted by the applicable laws,
the Lender shall be entitled to, but not be obliged to, purchase or designate any person (legal person or individual) to purchase all or part of the Borrower’s Share of Property at any time, at a price as specified in the Exclusive Option
Agreement. 

  

	 	1.6	 The Borrower also warranties to execute an irrevocable power of attorney (together with its amendments from
time to time, the “Power of Attorney”), which authorizes the Lender or a legal person or an individual as designated by the Lender to exercise all his or her rights as a partner in the Beijing Shangqin. 

  
 2 

	 	1.7	 The Loan under this Agreement will be deemed as an interest-free loan if the price to transfer the
Borrower’s Share of Property from the Borrower to the Lender or any person as designated by the Lender is equal to or less than the amount of the Loan under this Agreement. However, if such transfer price exceeds the amount of the Loan under
this Agreement, the exceeding amount will be deemed as the interest upon the Loan under this Agreement and repaid to the Lender from the Borrower. 

  

	2	 Representations and Warranties 

 

	 	2.1	 The Lender represents and warrants to the Borrower that from the date of this Agreement until termination
hereof: 

  

	 	2.1.1	 it is a company duly incorporated and validly existing under the PRC laws; 

 

	 	2.1.2	 it has the power to execute and perform this Agreement. Its execution and performance of this Agreement are in
compliance with its business scope, articles of association or other organizational documents, and it has received all approvals and authorities necessary and appropriate to execute and perform this Agreement; and 

 

	 	2.1.3	 this Agreement, once executed, becomes legal, valid and enforceable obligations upon the Lender.

  

	 	2.2	 The Borrower represents and warrants that from the date of this Agreement until termination hereof:

  

	 	2.2.1	 the Borrower has the power to execute and perform this Agreement, and has received all approvals and
authorities necessary and appropriate to execute and perform this Agreement; 

  

	 	2.2.2	 this Agreement, once executed, becomes legal, valid and enforceable obligations upon the Borrower; and

  

	 	2.2.3	 there is no existing or potential dispute, suit, arbitration, administrative proceeding or any other legal
proceeding in which the Borrower is involved. 

  
 3 

	3	 Covenants from the Borrower 

 

	 	3.1	 The Borrower covenants in his capacity as the partner of the Beijing Shangqin that during the term of this
Agreement he will procure the Beijing Shangqin: 

  

	 	3.1.1	 to strictly comply with the provisions of the Exclusive Option Agreement and the exclusive business cooperation
agreement (together with its amendments from time to time, the “Exclusive Business Cooperation Agreement”) to which it is a party, and to refrain from any action/omission that may affect the effectiveness and enforceability thereof;

  

	 	3.1.2	 to execute any contract or agreement regarding the business cooperation with the Lender (or any party as
designated by the Lender) upon the request of the Lender (or any party as designated by the Lender), and to ensure the strict performance of such contract agreement; 

 

	 	3.1.3	 to provide to the Lender any and all information regarding its operations and financial conditions upon the
request of the Lender; 

  

	 	3.1.4	 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative
proceeding regarding its assets, business and income; 

  

	 	3.1.5	 to appoint any person as nominated by the Lender to its board upon the request of the Lender.

  

	 	3.2	 The Borrower covenants during the term of this Agreement: 

 

	 	3.2.1	 to procure, at his best efforts, the Beijing Shangqin to conduct its major business, manage operation of
subsidiary companies. The specific business scope shall be subject to the business license and the agreement among the Borrower, Beijing Shangqin and the Lender; 

 

	 	3.2.2	 to strictly comply with the provisions of this Agreement, the Power of Attorney, the Share of Property Pledge
Agreement (together with its amendments from time to time, the “Share of Property Pledge Agreement”) and the Exclusive Option Agreement to which he as a party, perform the obligations thereunder, and to refrain from any
action/omission that may affect the effectiveness and enforceability thereof; 

  

	 	3.2.3	 except as provided under the Share of Property Pledge Agreement, not to sell, transfer, pledge or otherwise
dispose any legal or beneficial interest of the Borrower’s Share of Property, or allow creation of any other security interests thereupon; 

  
 4 

	 	3.2.4	 to procure the partners and/or the board of directors of the Beijing Shangqin not to approve any sale,
transfer, pledge or otherwise disposal of any legal or beneficial interest of the Borrower’s Share of Property, or creation of any other security interests thereupon without prior written consent from the Lender, except to the Lender or its
designated person; 

  

	 	3.2.5	 to procure the partners and/or the board of the directors of the Beijing Shangqin not to approve its merger or
association with, or acquisition of or investment in any person without prior written consent from the Lender; 

  

	 	3.2.6	 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative
proceeding regarding the Borrower’s Share of Property; 

  

	 	3.2.7	 to execute any document, conduct any action, and make any claim or defense, necessary or appropriate to
maintain his or her ownership of the Borrower’s Share of Property; 

  

	 	3.2.8	 not to make any act and/or omission which may affect any asset, business or liability of the Beijing Shangqin
without prior written consent from the Lender; 

  

	 	3.2.9	 to appoint any person as nominated by the Lender to the board of the Beijing Shangqin upon the request of the
Lender; 

  

	 	3.2.10	 to the extent as permitted under the PRC laws and upon the request of the Lender at any time, to transfer
unconditionally and immediately the Borrower’s Share of Property to the Lender or any person as designated by it, and procure any other partner of the Beijing Shangqin to waive the right of first refusal regarding such transfer of share of
property under this Section; 

  

	 	3.2.11	 to the extent permitted under the PRC laws and upon the request of the Lender at any time, to procure any other
partner of the Beijing Shangqin to transfer unconditionally and immediately all the share of property owned by such partner to the Lender or any person as designated by it, and the Borrower hereby waives his or her right of first refusal regarding
such transfer of partnership interest under this Section; 

  

	 	3.2.12	 if the Lender purchases the Borrower’s Share of Property from the Borrower pursuant to the Exclusive
Option Agreement, to use the consideration of such purchase to repay the Loan to the Lender on priority; and 

  
 5 

	 	3.2.13	 not to supplement, revise or amend its articles of association in any way, increase or decrease its registered
capital, or change its shareholding structure in any way without prior written consent from the Lender. 

  

	4	 Default Liabilities 

 

	 	4.1	 In the event that the Borrower materially breaches any provision under this Agreement, the Lender is entitled
to terminate this Agreement and claim damages from the Borrower; this Section 4.1 shall not preclude any other rights entitled to the Lender as provided under this Agreement. 

 

	 	4.2	 The Borrower may not terminate or cancel this Agreement in any event unless otherwise provided under the laws.

  

	 	4.3	 If the Borrower fails to repay the Loan pursuant to the terms under this Agreement, he will be liable for a
penalty interest accrued upon the amount due and payable at a daily interest rate of 10⁄000 until the Loan as well as any penalty interest and any other amount
accrued thereupon are fully repaid by the Borrower. 

  

	5	 Notices 

  

	 	5.1	 All notices and other communications required or permitted to be given pursuant to this Agreement shall be
delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the designated address of such party as listed below. A confirmation copy of each notice shall also be sent by E-mail. The dates on which notices shall be deemed to have been effectively delivered shall be determined as follows: 

  

	 	5.1.1	 Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed
effectively delivered upon the delivery. 

  

	 	5.1.2	 Notices given by facsimile transmission shall be deemed effectively delivered on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission). 

  
 6 

	 	5.2	 For the purpose of notification, the addresses of the Parties are as follows: 

The Lender: Tencent Music (Beijing) Co., Ltd. 

Address: 5th Floor, South District, National Convention Center, No. 7,
Tianchen East Road, Chaoyang District, Beijing 
 Attention: TME Legal Management Department - Investment M&A 

Email: [            ] 

The Borrower: Gu Dejun 

Address: 17F, Songri Dingsheng Building, No. 9996, Shennan Road, Nanshan District, Shenzhen 

Email: [            ]  

 

	 	5.3	 Each Party may at any time change its address for notices by delivering a notice to the other Party in
accordance with this Section. 

  

	6	 Confidentiality 

The Parties acknowledge and confirm that the terms of this Agreement and any oral or written information exchanged among the Parties in
connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall keep all such confidential information confidential, and shall not, without prior written consent of the other Party,
disclose any confidential information to any third parties, except for information: (a) that is or will be available to the public (other than through the unauthorized disclosure to the public by the Party receiving confidential information);
(b) that is required to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) that is disclosed by any Party to its shareholders, partners and
their authorized representative, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, partners and their authorized representative, directors, employees, legal
counsels or financial advisors shall be bound by the confidentiality obligations similar to the terms set forth in this Section. Disclosure of any confidential information by the shareholders, partners and their authorized representative, directors,
employees or entities engaged by any Party shall be deemed as disclosure of such confidential information by such Party, which Party shall be held liable for breach of contract. 

 

	7	 Governing Law and Disputes Resolution 

 

	 	7.1	 The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the
resolution of any disputes hereunder shall be governed by the PRC laws. 

  
 7 

	 	7.2	 Any disputes arising in connection with the implementation and performance of this Agreement shall be settled
through friendly consultations among the Parties, and where such disputes are still unsolved within thirty (30) days upon issuance of the written notice by one Party to the other Party for consultations, such disputes shall be submitted by
either Party to the China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules. The arbitration shall take place in Beijing. The arbitration award shall be final and binding
upon all the Parties. 

  

	 	7.3	 Upon the occurrence of any disputes arising from the interpretation and performance of this Agreement or during
the pending arbitration of any disputes, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights and perform their respective obligations hereunder. 

 

	8	 Miscellaneous 

 

	 	8.1	 This Agreement shall be effective as of the date of its execution and expire until the Parties have performed
their respective obligations under this Agreement. 

  

	 	8.2	 This Agreement is written in Chinese in two (2) originals, with each of the Lender and the Borrower
holding one original. 

  

	 	8.3	 The Parties may amend and supplement this Agreement in writing. Any amendment and/or supplement to this
Agreement by the Parties is an integral part of and has the same effect with this Agreement. 

  

	 	8.4	 In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or
unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good
faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as
close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

  

	 	8.5	 The attachments to this Agreement (if any) are an integral part of and has the same effect with this Agreement.

  

	 	8.6	 Any obligation that occurs or becomes due under this Agreement prior to the expiry of this Agreement or early
termination shall survive the expiration or early termination of this Agreement. The provisions under Section 4, Section 6, Section 7 and this Section 8.6 shall survive the termination of this Agreement. 

  
 8 

 [The remainder of this page is intentionally left blank] 

  
 9 

 IN WITNESS HEREOF, the Parties have caused this Loan Agreement to be executed by their
respective authorized representative on the date first above written. 
 The Lender: Tencent Music (Beijing) Co., Ltd. 

[Company chop is affixed] 
 Signature: /s/ Yang Qihu

 Name: Yang Qihu 
 Title: Legal Representative

 The Borrower: Gu Dejun 
 Signature: /s/ Gu
Dejun 

  
 Signature Page of Loan
Agreement between Tencent Music (Beijing) Co., Ltd. and Gu Dejun 

 Loan Agreement 

This Loan Agreement (the “Agreement”) is entered into by and between the following Parties on July 14, 2020 in Beijing,
People’s Republic of China (the “PRC”): 
 (1) Tencent Music (Beijing) Co., Ltd. (the
“Lender”), a wholly foreign-owned enterprise incorporated and existing under the laws of the PRC, with its registered address at Room 303, 3rd Floor of 101, -2nd to 8th Floor, No.7 Building,
East Tianchen Road, Chaoyang District, Beijing; 
 (2) Zhou Jie (the “Borrower”), a Chinese Citizen, with
Identification No. [                    ]. 

The Lender and the Borrower shall hereinafter be referred to as a “Party” respectively and as the “Parties”
collectively. 
 Whereas: 
  

	1.	 As of the date of this Agreement, the Borrower holds 19.9999% share of property in Beijing Shangqin Culture
Management Partnership (Limited Partnership) (the “Beijing Shangqin”). All the existing and future share of property the Borrower holds in Beijing Shangqin are referred to as the “Borrower’s Share of Property”;

  

	2.	 The Lender agrees to provide a loan in the amount of RMB 199,999 to the Borrower for the purposes as specified
in this Agreement. 

 Upon friendly negotiation, the Parties have reached the following agreements for their mutual
compliance: 
  

	1	 Loan 

  

	 	1.1	 The Lender agrees to provide a loan in the amount of RMB 199,999 to the Borrower in accordance with the terms
hereof (the “Loan”). During the term of this Agreement, the Lender shall provide to the Borrower the respective amounts within one (1) month upon receipt of the notice by the Borrower requesting the provision of all or part of
the Loan. The Loan shall be a long-term loan. During the term of the Loan, if any of the following events occurs, the Lender shall repay the Loan immediately in advance: 

 

	 	1.1.1	 30 days after the Borrower’s receipt of the written notice by the Lender requesting the repayment of the
Loan; 

  

	 	1.1.2	 the Borrower dies or becomes a person without capacity or with limited capacity for civil acts;

  
 1 

	 	1.1.3	 the Borrower is no longer the partner of the Beijing Shangqin or its affiliates, or resigns from the Lender,
the Beijing Shangqin or its affiliates, regardless of the reasons thereof; 

  

	 	1.1.4	 the Borrower commit a crime or is involved in a crime; 

 

	 	1.1.5	 according to the applicable PRC laws, the foreigners may invest in the existing major business of the Beijing
Shangqin in a manner of controlling or wholly owned shareholding and the relevant authorities in PRC begin to approve such business, and the Lender decides to exercise its right of exclusive option in accordance with the Exclusive Option Agreement
(together with its amendments from time to time, the “Exclusive Option Agreement”) to which it is a party. 

  

	 	1.2	 The Loan by the Lender under this Agreement only applies to the Borrower himself, not his successors or
assignees. 

  

	 	1.3	 The Borrower agrees to accept the aforesaid loan provided by the Lender, and hereby agrees and warranties to
use the Loan to pay for its investment or increase in the registered capital of the Beijing Shangqin or the working capital of the Beijing Shangqin. Unless with prior written consent of the Lender, the Borrower will not use the Loan for any other
purpose. 

  

	 	1.4	 The Lender and the Borrower hereby agree and confirm that the Borrower may repay the loan only by the following
methods as required by the Lender: according to the Lender’s right to purchase the Borrower’s Share of Property under the Exclusive Option Agreement, transfer all the share of property in the Beijing Shangqin to the Lender or any person
(legal person or individual) as designated by the Lender, and use any proceeds obtained through the transfer of share of property in the Beijing Shangqin (to the extent as permitted) to repay the Loan in accordance with this Agreement to the Lender
in the method as designated by the Lender. 

  

	 	1.5	 The Lender and the Borrower hereby agree and confirm that, to the extent as permitted by the applicable laws,
the Lender shall be entitled to, but not be obliged to, purchase or designate any person (legal person or individual) to purchase all or part of the Borrower’s Share of Property at any time, at a price as specified in the Exclusive Option
Agreement. 

  

	 	1.6	 The Borrower also warranties to execute an irrevocable power of attorney (together with its amendments from
time to time, the “Power of Attorney”), which authorizes the Lender or a legal person or an individual as designated by the Lender to exercise all his or her rights as a partner in the Beijing Shangqin. 

  
 2 

	 	1.7	 The Loan under this Agreement will be deemed as an interest-free loan if the price to transfer the
Borrower’s Share of Property from the Borrower to the Lender or any person as designated by the Lender is equal to or less than the amount of the Loan under this Agreement. However, if such transfer price exceeds the amount of the Loan under
this Agreement, the exceeding amount will be deemed as the interest upon the Loan under this Agreement and repaid to the Lender from the Borrower. 

  

	2	 Representations and Warranties 

 

	 	2.1	 The Lender represents and warrants to the Borrower that from the date of this Agreement until termination
hereof: 

  

	 	2.1.1	 it is a company duly incorporated and validly existing under the PRC laws; 

 

	 	2.1.2	 it has the power to execute and perform this Agreement. Its execution and performance of this Agreement are in
compliance with its business scope, articles of association or other organizational documents, and it has received all approvals and authorities necessary and appropriate to execute and perform this Agreement; and 

 

	 	2.1.3	 this Agreement, once executed, becomes legal, valid and enforceable obligations upon the Lender.

  

	 	2.2	 The Borrower represents and warrants that from the date of this Agreement until termination hereof:

  

	 	2.2.1	 the Borrower has the power to execute and perform this Agreement, and has received all approvals and
authorities necessary and appropriate to execute and perform this Agreement; 

  

	 	2.2.2	 this Agreement, once executed, becomes legal, valid and enforceable obligations upon the Borrower; and

  

	 	2.2.3	 there is no existing or potential dispute, suit, arbitration, administrative proceeding or any other legal
proceeding in which the Borrower is involved. 

  
 3 

	3	 Covenants from the Borrower 

 

	 	3.1	 The Borrower covenants in his capacity as the partner of the Beijing Shangqin that during the term of this
Agreement he will procure the Beijing Shangqin: 

  

	 	3.1.1	 to strictly comply with the provisions of the Exclusive Option Agreement and the exclusive business cooperation
agreement (together with its amendments from time to time, the “Exclusive Business Cooperation Agreement”) to which it is a party, and to refrain from any action/omission that may affect the effectiveness and enforceability thereof;

  

	 	3.1.2	 to execute any contract or agreement regarding the business cooperation with the Lender (or any party as
designated by the Lender) upon the request of the Lender (or any party as designated by the Lender), and to ensure the strict performance of such contract agreement; 

 

	 	3.1.3	 to provide to the Lender any and all information regarding its operations and financial conditions upon the
request of the Lender; 

  

	 	3.1.4	 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative
proceeding regarding its assets, business and income; 

  

	 	3.1.5	 to appoint any person as nominated by the Lender to its board upon the request of the Lender.

  

	 	3.2	 The Borrower covenants during the term of this Agreement: 

 

	 	3.2.1	 to procure, at his best efforts, the Beijing Shangqin to conduct its major business, manage operation of
subsidiary companies. The specific business scope shall be subject to the business license and the agreement among the Borrower, Beijing Shangqin and the Lender; 

 

	 	3.2.2	 to strictly comply with the provisions of this Agreement, the Power of Attorney, the Share of Property Pledge
Agreement (together with its amendments from time to time, the “Share of Property Pledge Agreement”) and the Exclusive Option Agreement to which he as a party, perform the obligations thereunder, and to refrain from any
action/omission that may affect the effectiveness and enforceability thereof; 

  

	 	3.2.3	 except as provided under the Share of Property Pledge Agreement, not to sell, transfer, pledge or otherwise
dispose any legal or beneficial interest of the Borrower’s Share of Property, or allow creation of any other security interests thereupon; 

  
 4 

	 	3.2.4	 to procure the partners and/or the board of directors of the Beijing Shangqin not to approve any sale,
transfer, pledge or otherwise disposal of any legal or beneficial interest of the Borrower’s Share of Property, or creation of any other security interests thereupon without prior written consent from the Lender, except to the Lender or its
designated person; 

  

	 	3.2.5	 to procure the partners and/or the board of the directors of the Beijing Shangqin not to approve its merger or
association with, or acquisition of or investment in any person without prior written consent from the Lender; 

  

	 	3.2.6	 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative
proceeding regarding the Borrower’s Share of Property; 

  

	 	3.2.7	 to execute any document, conduct any action, and make any claim or defense, necessary or appropriate to
maintain his or her ownership of the Borrower’s Share of Property; 

  

	 	3.2.8	 not to make any act and/or omission which may affect any asset, business or liability of the Beijing Shangqin
without prior written consent from the Lender; 

  

	 	3.2.9	 to appoint any person as nominated by the Lender to the board of the Beijing Shangqin upon the request of the
Lender; 

  

	 	3.2.10	 to the extent as permitted under the PRC laws and upon the request of the Lender at any time, to transfer
unconditionally and immediately the Borrower’s Share of Property to the Lender or any person as designated by it, and procure any other partner of the Beijing Shangqin to waive the right of first refusal regarding such transfer of share of
property under this Section; 

  

	 	3.2.11	 to the extent permitted under the PRC laws and upon the request of the Lender at any time, to procure any other
partner of the Beijing Shangqin to transfer unconditionally and immediately all the share of property owned by such partner to the Lender or any person as designated by it, and the Borrower hereby waives his or her right of first refusal regarding
such transfer of partnership interest under this Section; 

  

	 	3.2.12	 if the Lender purchases the Borrower’s Share of Property from the Borrower pursuant to the Exclusive
Option Agreement, to use the consideration of such purchase to repay the Loan to the Lender on priority; and 

  
 5 

	 	3.2.13	 not to supplement, revise or amend its articles of association in any way, increase or decrease its registered
capital, or change its shareholding structure in any way without prior written consent from the Lender. 

  

	4	 Default Liabilities 

 

	 	4.1	 In the event that the Borrower materially breaches any provision under this Agreement, the Lender is entitled
to terminate this Agreement and claim damages from the Borrower; this Section 4.1 shall not preclude any other rights entitled to the Lender as provided under this Agreement. 

 

	 	4.2	 The Borrower may not terminate or cancel this Agreement in any event unless otherwise provided under the laws.

  

	 	4.3	 If the Borrower fails to repay the Loan pursuant to the terms under this Agreement, he will be liable for a
penalty interest accrued upon the amount due and payable at a daily interest rate of 100⁄000 until the Loan as well as any penalty interest and any other amount
accrued thereupon are fully repaid by the Borrower. 

  

	5	 Notices 

  

	 	5.1	 All notices and other communications required or permitted to be given pursuant to this Agreement shall be
delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the designated address of such party as listed below. A confirmation copy of each notice shall also be sent by E-mail. The dates on which notices shall be deemed to have been effectively delivered shall be determined as follows: 

  

	 	5.1.1	 Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed
effectively delivered upon the delivery. 

  

	 	5.1.2	 Notices given by facsimile transmission shall be deemed effectively delivered on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission). 

  
 6 

	 	5.2	 For the purpose of notification, the addresses of the Parties are as follows: 

The Lender: Tencent Music (Beijing) Co., Ltd. 

Address: 5th Floor, South District, National Convention Center, No. 7,
Tianchen East Road, Chaoyang District, Beijing 
 Attention: TME Legal Management Department - Investment M&A 

Email: [            ] 

The Borrower: Zhou Jie 

Address: 17F, Songri Dingsheng Building, No. 9996, Shennan Road, Nanshan District, Shenzhen 

Email: [            ]  

 

	 	5.3	 Each Party may at any time change its address for notices by delivering a notice to the other Party in
accordance with this Section. 

  

	6	 Confidentiality 

The Parties acknowledge and confirm that the terms of this Agreement and any oral or written information exchanged among the Parties in
connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall keep all such confidential information confidential, and shall not, without prior written consent of the other Party,
disclose any confidential information to any third parties, except for information: (a) that is or will be available to the public (other than through the unauthorized disclosure to the public by the Party receiving confidential information);
(b) that is required to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) that is disclosed by any Party to its shareholders, partners and
their authorized representative, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, partners and their authorized representative, directors, employees, legal
counsels or financial advisors shall be bound by the confidentiality obligations similar to the terms set forth in this Section. Disclosure of any confidential information by the shareholders, partners and their authorized representative, directors,
employees or entities engaged by any Party shall be deemed as disclosure of such confidential information by such Party, which Party shall be held liable for breach of contract. 

 

	7	 Governing Law and Disputes Resolution 

 

	 	7.1	 The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the
resolution of any disputes hereunder shall be governed by the PRC laws. 

  
 7 

	 	7.2	 Any disputes arising in connection with the implementation and performance of this Agreement shall be settled
through friendly consultations among the Parties, and where such disputes are still unsolved within thirty (30) days upon issuance of the written notice by one Party to the other Party for consultations, such disputes shall be submitted by
either Party to the China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules. The arbitration shall take place in Beijing. The arbitration award shall be final and binding
upon all the Parties. 

  

	 	7.3	 Upon the occurrence of any disputes arising from the interpretation and performance of this Agreement or during
the pending arbitration of any disputes, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights and perform their respective obligations hereunder. 

 

	8	 Miscellaneous 

 

	 	8.1	 This Agreement shall be effective as of the date of its execution and expire until the Parties have performed
their respective obligations under this Agreement. 

  

	 	8.2	 This Agreement is written in Chinese in two (2) originals, with each of the Lender and the Borrower
holding one original. 

  

	 	8.3	 The Parties may amend and supplement this Agreement in writing. Any amendment and/or supplement to this
Agreement by the Parties is an integral part of and has the same effect with this Agreement. 

  

	 	8.4	 In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or
unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good
faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as
close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

  

	 	8.5	 The attachments to this Agreement (if any) are an integral part of and has the same effect with this Agreement.

  

	 	8.6	 Any obligation that occurs or becomes due under this Agreement prior to the expiry of this Agreement or early
termination shall survive the expiration or early termination of this Agreement. The provisions under Section 4, Section 6, Section 7 and this Section 8.6 shall survive the termination of this Agreement. 

  
 8 

 [The remainder of this page is intentionally left blank] 

  
 9 

 IN WITNESS HEREOF, the Parties have caused this Loan Agreement to be executed by their
respective authorized representative on the date first above written. 
 The Lender: Tencent Music (Beijing) Co., Ltd. 

[Company chop is affixed] 
 Signature: /s/ Yang Qihu

 Name: Yang Qihu 
 Title: Legal Representative

 The Borrower: Zhou Jie 
 Signature: /s/ Zhou
Jie 

  
 Signature Page of Loan
Agreement between Tencent Music (Beijing) Co., Ltd. and Zhou Jie 

 Loan Agreement 

This Loan Agreement (the “Agreement”) is entered into by and between the following Parties on July 14, 2020 in Beijing,
People’s Republic of China (the “PRC”): 
 (1) Tencent Music (Beijing) Co., Ltd. (the
“Lender”), a wholly foreign-owned enterprise incorporated and existing under the laws of the PRC, with its registered address at Room 303, 3rd Floor of 101, -2nd to 8th Floor, No.7 Building,
East Tianchen Road, Chaoyang District, Beijing; 
 (2) Chen Xing (the “Borrower”), a Chinese Citizen, with
Identification No. [    ]. 
 The Lender and the Borrower shall hereinafter be referred to as a “Party”
respectively and as the “Parties” collectively. 
 Whereas: 

 

	1.	 As of the date of this Agreement, the Borrower holds 19.9999% share of property in Beijing Shangqin Culture
Management Partnership (Limited Partnership) (the “Beijing Shangqin”). All the existing and future share of property the Borrower holds in Beijing Shangqin are referred to as the “Borrower’s Share of Property”;

  

	2.	 The Lender agrees to provide a loan in the amount of RMB 199,999 to the Borrower for the purposes as specified
in this Agreement. 

 Upon friendly negotiation, the Parties have reached the following agreements for their mutual
compliance: 
  

	1	 Loan 

  

	 	1.1	 The Lender agrees to provide a loan in the amount of RMB 199,999 to the Borrower in accordance with the terms
hereof (the “Loan”). During the term of this Agreement, the Lender shall provide to the Borrower the respective amounts within one (1) month upon receipt of the notice by the Borrower requesting the provision of all or part of
the Loan. The Loan shall be a long-term loan. During the term of the Loan, if any of the following events occurs, the Lender shall repay the Loan immediately in advance: 

 

	 	1.1.1	 30 days after the Borrower’s receipt of the written notice by the Lender requesting the repayment of the
Loan; 

  

	 	1.1.2	 the Borrower dies or becomes a person without capacity or with limited capacity for civil acts;

  
 1 

	 	1.1.3	 the Borrower is no longer the partner of the Beijing Shangqin or its affiliates, or resigns from the Lender,
the Beijing Shangqin or its affiliates, regardless of the reasons thereof; 

  

	 	1.1.4	 the Borrower commit a crime or is involved in a crime; 

 

	 	1.1.5	 according to the applicable PRC laws, the foreigners may invest in the existing major business of the Beijing
Shangqin in a manner of controlling or wholly owned shareholding and the relevant authorities in PRC begin to approve such business, and the Lender decides to exercise its right of exclusive option in accordance with the Exclusive Option Agreement
(together with its amendments from time to time, the “Exclusive Option Agreement”) to which it is a party. 

  

	 	1.2	 The Loan by the Lender under this Agreement only applies to the Borrower himself, not his successors or
assignees. 

  

	 	1.3	 The Borrower agrees to accept the aforesaid loan provided by the Lender, and hereby agrees and warranties to
use the Loan to pay for its investment or increase in the registered capital of the Beijing Shangqin or the working capital of the Beijing Shangqin. Unless with prior written consent of the Lender, the Borrower will not use the Loan for any other
purpose. 

  

	 	1.4	 The Lender and the Borrower hereby agree and confirm that the Borrower may repay the loan only by the following
methods as required by the Lender: according to the Lender’s right to purchase the Borrower’s Share of Property under the Exclusive Option Agreement, transfer all the share of property in the Beijing Shangqin to the Lender or any person
(legal person or individual) as designated by the Lender, and use any proceeds obtained through the transfer of share of property in the Beijing Shangqin (to the extent as permitted) to repay the Loan in accordance with this Agreement to the Lender
in the method as designated by the Lender. 

  

	 	1.5	 The Lender and the Borrower hereby agree and confirm that, to the extent as permitted by the applicable laws,
the Lender shall be entitled to, but not be obliged to, purchase or designate any person (legal person or individual) to purchase all or part of the Borrower’s Share of Property at any time, at a price as specified in the Exclusive Option
Agreement. 

  

	 	1.6	 The Borrower also warranties to execute an irrevocable power of attorney (together with its amendments from
time to time, the “Power of Attorney”), which authorizes the Lender or a legal person or an individual as designated by the Lender to exercise all his or her rights as a partner in the Beijing Shangqin. 

  
 2 

	 	1.7	 The Loan under this Agreement will be deemed as an interest-free loan if the price to transfer the
Borrower’s Share of Property from the Borrower to the Lender or any person as designated by the Lender is equal to or less than the amount of the Loan under this Agreement. However, if such transfer price exceeds the amount of the Loan under
this Agreement, the exceeding amount will be deemed as the interest upon the Loan under this Agreement and repaid to the Lender from the Borrower. 

  

	2	 Representations and Warranties 

 

	 	2.1	 The Lender represents and warrants to the Borrower that from the date of this Agreement until termination
hereof: 

  

	 	2.1.1	 it is a company duly incorporated and validly existing under the PRC laws; 

 

	 	2.1.2	 it has the power to execute and perform this Agreement. Its execution and performance of this Agreement are in
compliance with its business scope, articles of association or other organizational documents, and it has received all approvals and authorities necessary and appropriate to execute and perform this Agreement; and 

 

	 	2.1.3	 this Agreement, once executed, becomes legal, valid and enforceable obligations upon the Lender.

  

	 	2.2	 The Borrower represents and warrants that from the date of this Agreement until termination hereof:

  

	 	2.2.1	 the Borrower has the power to execute and perform this Agreement, and has received all approvals and
authorities necessary and appropriate to execute and perform this Agreement; 

  

	 	2.2.2	 this Agreement, once executed, becomes legal, valid and enforceable obligations upon the Borrower; and

  

	 	2.2.3	 there is no existing or potential dispute, suit, arbitration, administrative proceeding or any other legal
proceeding in which the Borrower is involved. 

  
 3 

	3	 Covenants from the Borrower 

 

	 	3.1	 The Borrower covenants in his capacity as the partner of the Beijing Shangqin that during the term of this
Agreement he will procure the Beijing Shangqin: 

  

	 	3.1.1	 to strictly comply with the provisions of the Exclusive Option Agreement and the exclusive business cooperation
agreement (together with its amendments from time to time, the “Exclusive Business Cooperation Agreement”) to which it is a party, and to refrain from any action/omission that may affect the effectiveness and enforceability thereof;

  

	 	3.1.2	 to execute any contract or agreement regarding the business cooperation with the Lender (or any party as
designated by the Lender) upon the request of the Lender (or any party as designated by the Lender), and to ensure the strict performance of such contract agreement; 

 

	 	3.1.3	 to provide to the Lender any and all information regarding its operations and financial conditions upon the
request of the Lender; 

  

	 	3.1.4	 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative
proceeding regarding its assets, business and income; 

  

	 	3.1.5	 to appoint any person as nominated by the Lender to its board upon the request of the Lender.

  

	 	3.2	 The Borrower covenants during the term of this Agreement: 

 

	 	3.2.1	 to procure, at his best efforts, the Beijing Shangqin to conduct its major business, manage operation of
subsidiary companies. The specific business scope shall be subject to the business license and the agreement among the Borrower, Beijing Shangqin and the Lender; 

 

	 	3.2.2	 to strictly comply with the provisions of this Agreement, the Power of Attorney, the Share of Property Pledge
Agreement (together with its amendments from time to time, the “Share of Property Pledge Agreement”) and the Exclusive Option Agreement to which he as a party, perform the obligations thereunder, and to refrain from any
action/omission that may affect the effectiveness and enforceability thereof; 

  

	 	3.2.3	 except as provided under the Share of Property Pledge Agreement, not to sell, transfer, pledge or otherwise
dispose any legal or beneficial interest of the Borrower’s Share of Property, or allow creation of any other security interests thereupon; 

  
 4 

	 	3.2.4	 to procure the partners and/or the board of directors of the Beijing Shangqin not to approve any sale,
transfer, pledge or otherwise disposal of any legal or beneficial interest of the Borrower’s Share of Property, or creation of any other security interests thereupon without prior written consent from the Lender, except to the Lender or its
designated person; 

  

	 	3.2.5	 to procure the partners and/or the board of the directors of the Beijing Shangqin not to approve its merger or
association with, or acquisition of or investment in any person without prior written consent from the Lender; 

  

	 	3.2.6	 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative
proceeding regarding the Borrower’s Share of Property; 

  

	 	3.2.7	 to execute any document, conduct any action, and make any claim or defense, necessary or appropriate to
maintain his or her ownership of the Borrower’s Share of Property; 

  

	 	3.2.8	 not to make any act and/or omission which may affect any asset, business or liability of the Beijing Shangqin
without prior written consent from the Lender; 

  

	 	3.2.9	 to appoint any person as nominated by the Lender to the board of the Beijing Shangqin upon the request of the
Lender; 

  

	 	3.2.10	 to the extent as permitted under the PRC laws and upon the request of the Lender at any time, to transfer
unconditionally and immediately the Borrower’s Share of Property to the Lender or any person as designated by it, and procure any other partner of the Beijing Shangqin to waive the right of first refusal regarding such transfer of share of
property under this Section; 

  

	 	3.2.11	 to the extent permitted under the PRC laws and upon the request of the Lender at any time, to procure any other
partner of the Beijing Shangqin to transfer unconditionally and immediately all the share of property owned by such partner to the Lender or any person as designated by it, and the Borrower hereby waives his or her right of first refusal regarding
such transfer of partnership interest under this Section; 

  

	 	3.2.12	 if the Lender purchases the Borrower’s Share of Property from the Borrower pursuant to the Exclusive
Option Agreement, to use the consideration of such purchase to repay the Loan to the Lender on priority; and 

  
 5 

	 	3.2.13	 not to supplement, revise or amend its articles of association in any way, increase or decrease its registered
capital, or change its shareholding structure in any way without prior written consent from the Lender. 

  

	4	 Default Liabilities 

 

	 	4.1	 In the event that the Borrower materially breaches any provision under this Agreement, the Lender is entitled
to terminate this Agreement and claim damages from the Borrower; this Section 4.1 shall not preclude any other rights entitled to the Lender as provided under this Agreement. 

 

	 	4.2	 The Borrower may not terminate or cancel this Agreement in any event unless otherwise provided under the laws.

  

	 	4.3	 If the Borrower fails to repay the Loan pursuant to the terms under this Agreement, he will be liable for a
penalty interest accrued upon the amount due and payable at a daily interest rate of 10⁄000 until the Loan as well as any penalty interest and any other amount
accrued thereupon are fully repaid by the Borrower. 

  

	5	 Notices 

  

	 	5.1	 All notices and other communications required or permitted to be given pursuant to this Agreement shall be
delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the designated address of such party as listed below. A confirmation copy of each notice shall also be sent by E-mail. The dates on which notices shall be deemed to have been effectively delivered shall be determined as follows: 

  

	 	5.1.1	 Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed
effectively delivered upon the delivery. 

  

	 	5.1.2	 Notices given by facsimile transmission shall be deemed effectively delivered on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission). 

  
 6 

	 	5.2	 For the purpose of notification, the addresses of the Parties are as follows: 

The Lender: Tencent Music (Beijing) Co., Ltd. 

Address: 5th Floor, South District, National Convention Center, No. 7,
Tianchen East Road, Chaoyang District, Beijing 
 Attention: TME Legal Management Department - Investment M&A 

Email: [    ] 

The Borrower: Chen Xing 

Address: 8th Floor, South District, Office Building, China National Convention Center, No. 7 Tianchen East Road, Chaoyang
District, Beijing 
 Email: [    ]  

 

	 	5.3	 Each Party may at any time change its address for notices by delivering a notice to the other Party in
accordance with this Section. 

  

	6	 Confidentiality 

The Parties acknowledge and confirm that the terms of this Agreement and any oral or written information exchanged among the Parties in
connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall keep all such confidential information confidential, and shall not, without prior written consent of the other Party,
disclose any confidential information to any third parties, except for information: (a) that is or will be available to the public (other than through the unauthorized disclosure to the public by the Party receiving confidential information);
(b) that is required to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) that is disclosed by any Party to its shareholders, partners and
their authorized representative, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, partners and their authorized representative, directors, employees, legal
counsels or financial advisors shall be bound by the confidentiality obligations similar to the terms set forth in this Section. Disclosure of any confidential information by the shareholders, partners and their authorized representative, directors,
employees or entities engaged by any Party shall be deemed as disclosure of such confidential information by such Party, which Party shall be held liable for breach of contract. 

 

	7	 Governing Law and Disputes Resolution 

 

	 	7.1	 The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the
resolution of any disputes hereunder shall be governed by the PRC laws. 

  
 7 

	 	7.2	 Any disputes arising in connection with the implementation and performance of this Agreement shall be settled
through friendly consultations among the Parties, and where such disputes are still unsolved within thirty (30) days upon issuance of the written notice by one Party to the other Party for consultations, such disputes shall be submitted by
either Party to the China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules. The arbitration shall take place in Beijing. The arbitration award shall be final and binding
upon all the Parties. 

  

	 	7.3	 Upon the occurrence of any disputes arising from the interpretation and performance of this Agreement or during
the pending arbitration of any disputes, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights and perform their respective obligations hereunder. 

 

	8	 Miscellaneous 

 

	 	8.1	 This Agreement shall be effective as of the date of its execution and expire until the Parties have performed
their respective obligations under this Agreement. 

  

	 	8.2	 This Agreement is written in Chinese in two (2) originals, with each of the Lender and the Borrower
holding one original. 

  

	 	8.3	 The Parties may amend and supplement this Agreement in writing. Any amendment and/or supplement to this
Agreement by the Parties is an integral part of and has the same effect with this Agreement. 

  

	 	8.4	 In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or
unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good
faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as
close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

  

	 	8.5	 The attachments to this Agreement (if any) are an integral part of and has the same effect with this Agreement.

  

	 	8.6	 Any obligation that occurs or becomes due under this Agreement prior to the expiry of this Agreement or early
termination shall survive the expiration or early termination of this Agreement. The provisions under Section 4, Section 6, Section 7 and this Section 8.6 shall survive the termination of this Agreement. 

  
 8 

 [The remainder of this page is intentionally left blank] 

  
 9 

 IN WITNESS HEREOF, the Parties have caused this Loan Agreement to be executed by their
respective authorized representative on the date first above written. 
  

	
	The Lender: Tencent Music (Beijing) Co., Ltd.
	[Company chop is affixed]
	Signature: /s/ Yang Qihu
	Name: Yang Qihu
	Title: Legal Representative
	
	The Borrower: Chen Xing
	Signature: /s/ Chen Xing

  
 Signature Page of Loan
Agreement between Tencent Music (Beijing) Co., Ltd. and Chen Xing 

 Loan Agreement 

This Loan Agreement (the “Agreement”) is entered into by and between the following Parties on July 14, 2020 in Beijing,
People’s Republic of China (the “PRC”): 
 (1) Tencent Music (Beijing) Co., Ltd. (the
“Lender”), a wholly foreign-owned enterprise incorporated and existing under the laws of the PRC, with its registered address at Room 303, 3rd Floor of 101, -2nd to 8th Floor, No.7 Building,
East Tianchen Road, Chaoyang District, Beijing; 
 (2) Liang Yunheng (the “Borrower”), a Chinese Citizen, with
Identification No. [    ]. 
 The Lender and the Borrower shall hereinafter be referred to as a “Party”
respectively and as the “Parties” collectively. 
 Whereas: 

 

	1.	 As of the date of this Agreement, the Borrower holds 19.9999% share of property in Beijing Shangqin Culture
Management Partnership (Limited Partnership) (the “Beijing Shangqin”). All the existing and future share of property the Borrower holds in Beijing Shangqin are referred to as the “Borrower’s Share of Property”;

  

	2.	 The Lender agrees to provide a loan in the amount of RMB 199,999 to the Borrower for the purposes as specified
in this Agreement. 

 Upon friendly negotiation, the Parties have reached the following agreements for their mutual
compliance: 
  

	1	 Loan 

  

	 	1.1	 The Lender agrees to provide a loan in the amount of RMB 199,999 to the Borrower in accordance with the terms
hereof (the “Loan”). During the term of this Agreement, the Lender shall provide to the Borrower the respective amounts within one (1) month upon receipt of the notice by the Borrower requesting the provision of all or part of
the Loan. The Loan shall be a long-term loan. During the term of the Loan, if any of the following events occurs, the Lender shall repay the Loan immediately in advance: 

 

	 	1.1.1	 30 days after the Borrower’s receipt of the written notice by the Lender requesting the repayment of the
Loan; 

  

	 	1.1.2	 the Borrower dies or becomes a person without capacity or with limited capacity for civil acts;

  
 1 

	 	1.1.3	 the Borrower is no longer the partner of the Beijing Shangqin or its affiliates, or resigns from the Lender,
the Beijing Shangqin or its affiliates, regardless of the reasons thereof; 

  

	 	1.1.4	 the Borrower commit a crime or is involved in a crime; 

 

	 	1.1.5	 according to the applicable PRC laws, the foreigners may invest in the existing major business of the Beijing
Shangqin in a manner of controlling or wholly owned shareholding and the relevant authorities in PRC begin to approve such business, and the Lender decides to exercise its right of exclusive option in accordance with the Exclusive Option Agreement
(together with its amendments from time to time, the “Exclusive Option Agreement”) to which it is a party. 

  

	 	1.2	 The Loan by the Lender under this Agreement only applies to the Borrower himself, not his successors or
assignees. 

  

	 	1.3	 The Borrower agrees to accept the aforesaid loan provided by the Lender, and hereby agrees and warranties to
use the Loan to pay for its investment or increase in the registered capital of the Beijing Shangqin or the working capital of the Beijing Shangqin. Unless with prior written consent of the Lender, the Borrower will not use the Loan for any other
purpose. 

  

	 	1.4	 The Lender and the Borrower hereby agree and confirm that the Borrower may repay the loan only by the following
methods as required by the Lender: according to the Lender’s right to purchase the Borrower’s Share of Property under the Exclusive Option Agreement, transfer all the share of property in the Beijing Shangqin to the Lender or any person
(legal person or individual) as designated by the Lender, and use any proceeds obtained through the transfer of share of property in the Beijing Shangqin (to the extent as permitted) to repay the Loan in accordance with this Agreement to the Lender
in the method as designated by the Lender. 

  

	 	1.5	 The Lender and the Borrower hereby agree and confirm that, to the extent as permitted by the applicable laws,
the Lender shall be entitled to, but not be obliged to, purchase or designate any person (legal person or individual) to purchase all or part of the Borrower’s Share of Property at any time, at a price as specified in the Exclusive Option
Agreement. 

  

	 	1.6	 The Borrower also warranties to execute an irrevocable power of attorney (together with its amendments from
time to time, the “Power of Attorney”), which authorizes the Lender or a legal person or an individual as designated by the Lender to exercise all his or her rights as a partner in the Beijing Shangqin. 

  
 2 

	 	1.7	 The Loan under this Agreement will be deemed as an interest-free loan if the price to transfer the
Borrower’s Share of Property from the Borrower to the Lender or any person as designated by the Lender is equal to or less than the amount of the Loan under this Agreement. However, if such transfer price exceeds the amount of the Loan under
this Agreement, the exceeding amount will be deemed as the interest upon the Loan under this Agreement and repaid to the Lender from the Borrower. 

  

	2	 Representations and Warranties 

 

	 	2.1	 The Lender represents and warrants to the Borrower that from the date of this Agreement until termination
hereof: 

  

	 	2.1.1	 it is a company duly incorporated and validly existing under the PRC laws; 

 

	 	2.1.2	 it has the power to execute and perform this Agreement. Its execution and performance of this Agreement are in
compliance with its business scope, articles of association or other organizational documents, and it has received all approvals and authorities necessary and appropriate to execute and perform this Agreement; and 

 

	 	2.1.3	 this Agreement, once executed, becomes legal, valid and enforceable obligations upon the Lender.

  

	 	2.2	 The Borrower represents and warrants that from the date of this Agreement until termination hereof:

  

	 	2.2.1	 the Borrower has the power to execute and perform this Agreement, and has received all approvals and
authorities necessary and appropriate to execute and perform this Agreement; 

  

	 	2.2.2	 this Agreement, once executed, becomes legal, valid and enforceable obligations upon the Borrower; and

  

	 	2.2.3	 there is no existing or potential dispute, suit, arbitration, administrative proceeding or any other legal
proceeding in which the Borrower is involved. 

  
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	3	 Covenants from the Borrower 

 

	 	3.1	 The Borrower covenants in his capacity as the partner of the Beijing Shangqin that during the term of this
Agreement he will procure the Beijing Shangqin: 

  

	 	3.1.1	 to strictly comply with the provisions of the Exclusive Option Agreement and the exclusive business cooperation
agreement (together with its amendments from time to time, the “Exclusive Business Cooperation Agreement”) to which it is a party, and to refrain from any action/omission that may affect the effectiveness and enforceability thereof;

  

	 	3.1.2	 to execute any contract or agreement regarding the business cooperation with the Lender (or any party as
designated by the Lender) upon the request of the Lender (or any party as designated by the Lender), and to ensure the strict performance of such contract agreement; 

 

	 	3.1.3	 to provide to the Lender any and all information regarding its operations and financial conditions upon the
request of the Lender; 

  

	 	3.1.4	 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative
proceeding regarding its assets, business and income; 

  

	 	3.1.5	 to appoint any person as nominated by the Lender to its board upon the request of the Lender.

  

	 	3.2	 The Borrower covenants during the term of this Agreement: 

 

	 	3.2.1	 to procure, at his best efforts, the Beijing Shangqin to conduct its major business, manage operation of
subsidiary companies. The specific business scope shall be subject to the business license and the agreement among the Borrower, Beijing Shangqin and the Lender; 

 

	 	3.2.2	 to strictly comply with the provisions of this Agreement, the Power of Attorney, the Share of Property Pledge
Agreement (together with its amendments from time to time, the “Share of Property Pledge Agreement”) and the Exclusive Option Agreement to which he as a party, perform the obligations thereunder, and to refrain from any
action/omission that may affect the effectiveness and enforceability thereof; 

  

	 	3.2.3	 except as provided under the Share of Property Pledge Agreement, not to sell, transfer, pledge or otherwise
dispose any legal or beneficial interest of the Borrower’s Share of Property, or allow creation of any other security interests thereupon; 

  
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	 	3.2.4	 to procure the partners and/or the board of directors of the Beijing Shangqin not to approve any sale,
transfer, pledge or otherwise disposal of any legal or beneficial interest of the Borrower’s Share of Property, or creation of any other security interests thereupon without prior written consent from the Lender, except to the Lender or its
designated person; 

  

	 	3.2.5	 to procure the partners and/or the board of the directors of the Beijing Shangqin not to approve its merger or
association with, or acquisition of or investment in any person without prior written consent from the Lender; 

  

	 	3.2.6	 to immediately notify the Lender of any actual or potential litigation, arbitration or administrative
proceeding regarding the Borrower’s Share of Property; 

  

	 	3.2.7	 to execute any document, conduct any action, and make any claim or defense, necessary or appropriate to
maintain his or her ownership of the Borrower’s Share of Property; 

  

	 	3.2.8	 not to make any act and/or omission which may affect any asset, business or liability of the Beijing Shangqin
without prior written consent from the Lender; 

  

	 	3.2.9	 to appoint any person as nominated by the Lender to the board of the Beijing Shangqin upon the request of the
Lender; 

  

	 	3.2.10	 to the extent as permitted under the PRC laws and upon the request of the Lender at any time, to transfer
unconditionally and immediately the Borrower’s Share of Property to the Lender or any person as designated by it, and procure any other partner of the Beijing Shangqin to waive the right of first refusal regarding such transfer of share of
property under this Section; 

  

	 	3.2.11	 to the extent permitted under the PRC laws and upon the request of the Lender at any time, to procure any other
partner of the Beijing Shangqin to transfer unconditionally and immediately all the share of property owned by such partner to the Lender or any person as designated by it, and the Borrower hereby waives his or her right of first refusal regarding
such transfer of partnership interest under this Section; 

  

	 	3.2.12	 if the Lender purchases the Borrower’s Share of Property from the Borrower pursuant to the Exclusive
Option Agreement, to use the consideration of such purchase to repay the Loan to the Lender on priority; and 

  
 5 

	 	3.2.13	 not to supplement, revise or amend its articles of association in any way, increase or decrease its registered
capital, or change its shareholding structure in any way without prior written consent from the Lender. 

  

	4	 Default Liabilities 

 

	 	4.1	 In the event that the Borrower materially breaches any provision under this Agreement, the Lender is entitled
to terminate this Agreement and claim damages from the Borrower; this Section 4.1 shall not preclude any other rights entitled to the Lender as provided under this Agreement. 

 

	 	4.2	 The Borrower may not terminate or cancel this Agreement in any event unless otherwise provided under the laws.

  

	 	4.3	 If the Borrower fails to repay the Loan pursuant to the terms under this Agreement, he will be liable for a
penalty interest accrued upon the amount due and payable at a daily interest rate of 10⁄000 until the Loan as well as any penalty interest and any other amount
accrued thereupon are fully repaid by the Borrower. 

  

	5	 Notices 

  

	 	5.1	 All notices and other communications required or permitted to be given pursuant to this Agreement shall be
delivered personally or sent by registered mail, postage prepaid, by a commercial courier service or by facsimile transmission to the designated address of such party as listed below. A confirmation copy of each notice shall also be sent by E-mail. The dates on which notices shall be deemed to have been effectively delivered shall be determined as follows: 

  

	 	5.1.1	 Notices given by personal delivery, by courier service or by registered mail, postage prepaid, shall be deemed
effectively delivered upon the delivery. 

  

	 	5.1.2	 Notices given by facsimile transmission shall be deemed effectively delivered on the date of successful
transmission (as evidenced by an automatically generated confirmation of transmission). 

  
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	 	5.2	 For the purpose of notification, the addresses of the Parties are as follows: 

The Lender: Tencent Music (Beijing) Co., Ltd. 

Address: 5th Floor, South District, National Convention Center, No. 7,
Tianchen East Road, Chaoyang District, Beijing 
 Attention: TME Legal Management Department - Investment M&A 

Email: [    ] 

The Borrower: Liang Yunheng 

Address: 20F, Songri Dingsheng Building, No. 9996, Shennan Road, Nanshan District, Shenzhen 

Email: [    ]  
  

	 	5.3	 Each Party may at any time change its address for notices by delivering a notice to the other Party in
accordance with this Section. 

  

	6	 Confidentiality 

The Parties acknowledge and confirm that the terms of this Agreement and any oral or written information exchanged among the Parties in
connection with the preparation and performance of this Agreement are regarded as confidential information. Each Party shall keep all such confidential information confidential, and shall not, without prior written consent of the other Party,
disclose any confidential information to any third parties, except for information: (a) that is or will be available to the public (other than through the unauthorized disclosure to the public by the Party receiving confidential information);
(b) that is required to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities; or (c) that is disclosed by any Party to its shareholders, partners and
their authorized representative, directors, employees, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, partners and their authorized representative, directors, employees, legal
counsels or financial advisors shall be bound by the confidentiality obligations similar to the terms set forth in this Section. Disclosure of any confidential information by the shareholders, partners and their authorized representative, directors,
employees or entities engaged by any Party shall be deemed as disclosure of such confidential information by such Party, which Party shall be held liable for breach of contract. 

 

	7	 Governing Law and Disputes Resolution 

 

	 	7.1	 The execution, effectiveness, interpretation, performance, amendment and termination of this Agreement and the
resolution of any disputes hereunder shall be governed by the PRC laws. 

  
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	 	7.2	 Any disputes arising in connection with the implementation and performance of this Agreement shall be settled
through friendly consultations among the Parties, and where such disputes are still unsolved within thirty (30) days upon issuance of the written notice by one Party to the other Party for consultations, such disputes shall be submitted by
either Party to the China International Economic and Trade Arbitration Commission for arbitration in accordance with its then effective arbitration rules. The arbitration shall take place in Beijing. The arbitration award shall be final and binding
upon all the Parties. 

  

	 	7.3	 Upon the occurrence of any disputes arising from the interpretation and performance of this Agreement or during
the pending arbitration of any disputes, except for the matters under dispute, the Parties to this Agreement shall continue to exercise their respective rights and perform their respective obligations hereunder. 

 

	8	 Miscellaneous 

 

	 	8.1	 This Agreement shall be effective as of the date of its execution and expire until the Parties have performed
their respective obligations under this Agreement. 

  

	 	8.2	 This Agreement is written in Chinese in two (2) originals, with each of the Lender and the Borrower
holding one original. 

  

	 	8.3	 The Parties may amend and supplement this Agreement in writing. Any amendment and/or supplement to this
Agreement by the Parties is an integral part of and has the same effect with this Agreement. 

  

	 	8.4	 In the event that one or several of the provisions of this Agreement are found to be invalid, illegal or
unenforceable in any aspect in accordance with any laws or regulations, the validity, legality or enforceability of the remaining provisions of this Agreement shall not be affected or compromised in any respect. The Parties shall strive in good
faith to replace such invalid, illegal or unenforceable provisions with effective provisions that accomplish to the greatest extent permitted by law and the intentions of the Parties, and the economic effect of such effective provisions shall be as
close as possible to the economic effect of those invalid, illegal or unenforceable provisions. 

  

	 	8.5	 The attachments to this Agreement (if any) are an integral part of and has the same effect with this Agreement.

  

	 	8.6	 Any obligation that occurs or becomes due under this Agreement prior to the expiry of this Agreement or early
termination shall survive the expiration or early termination of this Agreement. The provisions under Section 4, Section 6, Section 7 and this Section 8.6 shall survive the termination of this Agreement. 

  
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 IN WITNESS HEREOF, the Parties have caused this Loan Agreement to be executed by their
respective authorized representative on the date first above written. 
  

	
	The Lender: Tencent Music (Beijing) Co., Ltd.
	[Company chop is affixed]
	Signature: /s/ Yang Qihu
	Name: Yang Qihu
	Title: Legal Representative
	
	The Borrower: Liang Yunheng
	Signature: /s/ Liang Yunheng

  
 Signature Page of Loan
Agreement between Tencent Music (Beijing) Co., Ltd. And Liang Yunheng

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