Financial Assets at Fair Value

12 Months Ended

Dec. 31, 2022

Disclosure of financial assets [abstract]

18.

Financial assets at fair value

(a)

Financial assets at fair value through other comprehensive income

As at December 31, 2021 and 2022, the Group’s financial assets at fair value through other comprehensive income mainly represented its listed equity investment in Spotify Technology S.A. (“Spotify”) and Warner Music Group Corp (“WMG”).

Movement of financial assets at fair value through other comprehensive income is analyzed as follows:


	Year ended December 31,
	2021			2022
	RMB’million			RMB’million
Listed equity investments
At January 1		9,771			7,302
Disposals		(163	)		-
Fair value change		(2,128	)		(4,517	)
Currency translation differences		(178	)		383
At December 31		7,302			3,168

(b)

Other investments

Other investments represent financial assets at fair value through profit or loss. Movement of other investments is analyzed as follows:


	Year ended December 31,
	2021			2022
	RMB’million			RMB’million
At January 1		386			236
Additions		-			160
Fair value change		53			-
Disposal		(200	)		(74	)
Currency translation differences		(3	)		19
At December 31		236			341
Of which are:
Current		37			37
Non-current		199			304
		236			341

(c)

Short-term investments

Short-term investments represent investments issued by commercial banks in the PRC with a variable return and accounted for as financial assets at fair value through profit or loss. Movement of short-term investments is analyzed as follows:


	Year ended December 31,
	2021			2022
	RMB’million			RMB’million
At January 1		-			1,029
Additions		5,616			160
Business combinations		100			-
Fair value change		52			26
Disposal		(4,739	)		(1,215	)
At December 31		1,029			-