TME Officer's $19M Share Dump Marks Second Major Sale in Two Weeks

Rhea-AI Filing Summary

Tencent Music Entertainment Group (NYSE: TME) insider PAN TSAI-CHUN, an officer of the company, has filed Form 144 indicating intent to sell 1,000,000 American Depositary Shares (ADS) with an aggregate market value of $18,854,000. The securities were acquired through employee stock options/RSU vesting on June 26, 2025.

Key transaction details:

• Broker: Futu Securities International (Hong Kong)
• Planned sale date: June 26, 2025
• Current shares outstanding: 1,548,904,504
• Previous sale: 1,000,000 shares sold on June 12, 2025 for $18,917,633

The filing indicates the seller has no knowledge of undisclosed material adverse information regarding the company's operations. The transaction appears to be part of a regular insider share disposition pattern, with the seller having executed a similar-sized sale earlier in the month.

Positive

• None.

Negative

• Officer Pan Tsai-Chun executed significant discretionary sales totaling 2 million shares worth approximately $37.8M within two weeks (1M shares on 6/12/25 and 1M shares on 6/26/25), suggesting potential insider bearish sentiment

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001990993
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Tencent Music Entertainment Group
SEC File Number	001-38751
Address of Issuer	UNIT 3, BUILDING D, KEXING SCIENCE PARK KEJIZHONGSAN AVENUE, HI-TECH PARK NANSHAN DISTRICT, SHENZHEN CHINA 518057
Phone	86 755 86013388
Name of Person for Whose Account the Securities are To Be Sold	PAN TSAI-CHUN
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Officer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
ADS (2 CL.A ordinary share represents 1 ADSs )	Futu Securities International (Hong Kong) Ltd. 11/F, Bangkok Bank Building 18 Bonham Strand West Sheung Wan K3 000000	1000000	18854000.00	1548904504	06/26/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
ADS (2 CL.A ordinary share represents 1 ADSs)	06/26/2025	Employee Stock Option Exercise/Restricted Share Units Vest	Issuer			1000000	06/26/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
PAN TSAI-CHUN 6 Floor, No. 9 Chaoyangmen North Street Beijing F4 100010	Tencent Music Entertainment Group	06/12/2025	1000000	18917633.02

144: Remarks and Signature

Remarks
Date of Notice	06/26/2025
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	PAN TSAI-CHUN
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many TME shares is insider PAN TSAI-CHUN selling on June 26, 2025?

According to the Form 144 filing, PAN TSAI-CHUN plans to sell 1,000,000 ADSs of Tencent Music Entertainment Group (TME) with an aggregate market value of $18,854,000.00 through broker Futu Securities International.

What was the source of TME shares being sold by PAN TSAI-CHUN?

The shares being sold were acquired through Employee Stock Option Exercise/Restricted Share Units Vest from the issuer on June 26, 2025 as part of compensation.

Has TME insider PAN TSAI-CHUN sold any other shares in the past 3 months?

Yes, PAN TSAI-CHUN previously sold 1,000,000 shares of TME on June 12, 2025 for gross proceeds of $18,917,633.02.

What is PAN TSAI-CHUN's relationship to TME?

According to the Form 144 filing, PAN TSAI-CHUN's relationship to Tencent Music Entertainment Group (TME) is listed as 'Officer' of the company.

What is the total number of TME shares outstanding as of June 2025?

According to the Form 144 filing, TME has 1,548,904,504 shares outstanding at the time of the filing in June 2025.