?Yangtze River Business News: our reporter Chen Nishi has settled down in the bullish valuation, and Tencent music, the online music market leader, is finally going to IPO. Two months ago, Tencent holdings announced plans to split its online music business and achieve an independent listing in the United States on the Hong Kong stock exchange, which is now steadily advancing. On February 2, Tencent Music Entertainment Group formally submitted a prospectus to the sec. According to industry news, Tencent music's IPO preparation is led by Goldman Sachs Group, Morgan Stanley and Bank of America Merrill Lynch, and is expected to complete the official listing on 21 / 23. Tencent music has already made money, and other online music is struggling with how to make mon11选5派奖火热进行中 ey. This month, the largest online music entertainment platform in China, with more than 300 million active users (MAU), went public in the United States with Tencent music reaching US $32.1 billion, nearly five times higher than its initial knowledge. However, while Tencent's high price copyright brings competitiveness to Tencent music, it also becomes a cost sword hanging on its head. In the future, how to expand the conversion rate of paid users and explore a richer profit model are the problems Tencent music needs to face. Last week, our reporter contacted Tencent about the listing of Tencent music. The other side said: "this piece is not to be interviewed at present." In the past two years, the valuation of Tencent music has increased nearly five times, from the time when it was announced to be listed to the time when it was officially split up and the prospectus was submitted. According to the rough calculation by the reporter of Changjiang business daily, the valuation of Tencent music has increased nearly five times in the past two years. At the beginning of 2125, Tencent music was valued at only $5.1 billion.