Key Highlights

● Tencent Music closed at $7.96 on Tuesday, September 29, down 4.90% from the prior close of $8.37.

● XPeng fell 4.82% and Pony AI fell 5.76% as US-listed Chinese stocks weakened across the session.

● Trailing twelve-month revenue was $5.00 billion, up 12.1%, and the company has announced a $400 million buyback.

● The close is 3.4% above the 52-week low of $7.70, in a range that reached $24.25.

Tencent Music Entertainment Group (NYSE:TME) retreated 4.90% on Tuesday, September 29, 2026, to $7.96 from $8.37, alongside other US-listed Chinese stocks. The music streaming company fell while the S&P 500 slipped 0.17% to 7,670.84.

A Group Move in Chinese ADRs

XPeng (NYSE:XPEV) fell 4.82% to $9.47, and Pony AI (NASDAQ:PONY) fell 5.76% to $6.54. NIO (NYSE:NIO) and Li Auto (NASDAQ:LI) closed in negative territory as well. Tencent Music's decline of 4.90% sat within that range of losses.

The Business and Its Numbers

Tencent Music operates digital music platforms including QQ Music, Kugou Music and Kuwo Music, along with the WeSing karaoke service. Its revenue comes from subscriptions, advertising and social entertainment services. Trailing twelve-month revenue was $5.00 billion, up 12.1%, and its most recent reported quarter showed revenue of $1.31 billion and earnings of $0.25 per share.

In September, the company priced and closed a $1 billion notes offering, and it has announced a $400 million share repurchase. It is expected to report its next quarterly results on November 11.

Analyst Views and the Yearly Range

The average analyst rating is Hold, with ten Hold and three Buy ratings. The 52-week range runs from $7.70 to $24.25, so Tuesday's close of $7.96 sits 3.4% above the low and about 67% below the high.

Near the Year's Low

The move came on a day of elevated Treasury yields, with the 10-year near 5.25%, and consumer confidence at 81.9, its lowest since 2014. Tencent Music's shares finished the session near the bottom of their yearly range, alongside the other Chinese names that closed lower.