Tencent Music's stock price soared 5.30% during the intraday trading session.

The significant price movement follows the company's announcement of a deep strategic collaboration with Zhejiang Huace Film & Tv Co.,Ltd. The partnership aims to leverage both companies' resources and content strengths to engage in extensive cooperation across areas such as the co-creation of film and music content and the development of their artist ecosystems.

The collaboration plans to establish a dual-development pathway for artists in both film/television and music, exploring more diverse and innovative models for cross-industry cooperation. The ultimate goal is to provide users with higher-quality audio-visual content and consumption experiences.