Taihe Music Submits Hong Kong IPO Application on June 22, Eyes 2.1% Market Share in $6.18B Independent Music Market

According to Smartech Financial, Taihe Music submitted its prospectus to the Hong Kong Stock Exchange's main board on June 22, marking its entry into capital market financing. The company, backed by Deutsche Bank and CITIC Securities as joint sponsors, operates a vertically integrated music ecosystem spanning copyright licensing, artist management, live events, and ticketing services across over 860,000 recorded music rights.

For 2025, Taihe reported revenues of 1.3 billion yuan, with operating profit surging 51.6% to 178 million yuan despite revenues declining 8.4% year-over-year from 1.419 billion yuan in 2024. Gross margin improved to 30.5% from 27.4%. Holding a 2.1% share of the global independent Chinese-language music market valued at approximately 61.8 billion yuan, the company faces the challenge of sustaining growth as industry expansion slows.