On Monday, Aug. 23, Tencent Music's (TME.US) shares rose, rising more than 6% to $7.90 as of 23:09 Beijing time. The stock recently hit an all-time low of $7.03 and has traded as high as $32.248 in the past 52 weeks. The stock currently has a market capitalization of more than $13.36 billion.
In terms of news, recently, a number of civil rulings on disputes between Tencent Music Entertainment Technology (Shenzhen) Co., Ltd., Xida (Shanghai) Network Technology Co., Ltd., and Shanghai Himalaya Technology Co., Ltd. infringed upon the right of network dissemination of work information were made public. The trial court is the people's Court of Qianhai Cooperation Zone in Shenzhen, Guangdong Province.
According to the ruling, Tencent Music, the plaintiff, claimed that the plaintiff was legally authorized to have the right to disseminate information on the network of audio recordings involved in the case, such as "name of faith", "dote on" and "Big Dreamer". During the period of submitting the statement of reply, the defendant Xida Technology Company raised an objection to the jurisdiction, believing that the case should be under the jurisdiction of the Shanghai Pudong New area people's Court. The final verdict was to reject the objection raised by the defendant Xida (Shanghai) Network Technology Co., Ltd. to the jurisdiction of the seven cases.
