Tencent Music (TME) Form 144 files sale of 1,000,000 ADS for $25.4M

Rhea-AI Filing Summary

Tencent Music Entertainment Group (TME) Form 144 shows a proposed sale of 1,000,000 ADS (each ADS represents 2 Class A ordinary shares) scheduled for 08/15/2025 on the NYSE through Futu Securities International (Hong Kong) Ltd. The filing lists an aggregate market value of $25,418,874.34 and reports 1,548,904,504 shares outstanding. The shares were acquired and paid for on 08/15/2025 via an employee stock option exercise, with the issuer named as the source of the acquisition and the nature of payment noted as compensation. The filer reports no sales in the past three months and signs the standard representation that no undisclosed material adverse information is known.

Positive

• Disclosure compliance: The filer submitted a Form 144 with transaction, broker, and acquisition details
• No prior sales in past three months: The filing reports "Nothing to Report" for sales during the preceding three months

Negative

• Insider sale size: Proposed sale of 1,000,000 ADS with an aggregate market value of $25,418,874.34 represents a sizable insider liquidity event
• Concentration of sale date: Acquisition and proposed sale share the same date (08/15/2025), indicating immediate disposition of exercised shares

Insights

Securities Analyst

TL;DR: Insider intends to sell newly exercised 1,000,000 ADS worth ~$25.4M, disclosed via Form 144 for compliance.

The notice documents a single proposed sale of 1,000,000 ADS on 08/15/2025 through a Hong Kong-based broker, valued at $25,418,874.34. The shares were acquired and paid on the same date through an employee stock option exercise and are being sold as compensation. The filing indicates no other sales in the prior three months, suggesting this is an initial disposition of newly vested/exercised shares rather than ongoing drip sales. For investors, the filing is primarily a compliance disclosure; it neither signals corporate financial performance nor provides new operational data.

Corporate Governance Specialist

TL;DR: Form 144 is a routine insider sale notice documenting compliance with Rule 144 for a large single-sale transaction.

The document contains required seller representations and notes the source of the shares as an employee stock option exercise with payment characterized as compensation. The filer affirms absence of undisclosed material adverse information. From a governance perspective, the timely filing and broker routing details show adherence to disclosure rules; the transaction itself is an insider liquidity event rather than a governance action altering board or management structure.

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

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

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

Relationship to Issuer

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	25418874.34	1548904504	08/15/2025	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)	08/15/2025	Employee Stock Option Exercise	Issuer			1000000	08/15/2025	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

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

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

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the TME Form 144 disclose?

The filing discloses a proposed sale of 1,000,000 ADS on 08/15/2025 through Futu Securities International, with aggregate market value $25,418,874.34.

Who acquired the shares being sold according to the filing?

The shares were acquired via an employee stock option exercise on 08/15/2025, with the issuer listed as the person from whom acquired and payment characterized as compensation.

Was there any insider selling by the filer in the past three months?

No; the filing states "Nothing to Report" for securities sold during the past three months.

On which exchange is the sale planned?

The proposed sale is scheduled on the NYSE.

How many shares outstanding does the filing report?

The filing reports 1,548,904,504 shares outstanding.