The Tencent music market initially rose more than 17%, hitting a high of 15.33 US dollars, a record high since July last year. According to the news, Tencent Music announced its 2024 annual results, with annual revenue of 28.401 billion yuan, an increase of 2.3% over the previous year. Among them, revenue from online music services reached 21.742 billion yuan, an increase of 25.5% over the previous year, mainly driven by growth in online music subscription revenue and advertising service revenue. Net profit reached 6.644 billion yuan, a year-on-year increase of 35%. The board of directors announced a dividend of 9 US cents per common share for the fiscal year 2024, or 18 US cents per ADS. Meanwhile, the board of directors has approved a new share repurchase plan of up to 1 billion US dollars.