What are the multiplexing formats and encoding formats for audio and video files?

MP4 and M4A container formats are used for the multiplexing of audio and video files, MP4 is capable of multiplexing video, audio, subtitles, and metadata, and is suitable for a wide array of multimedia applications such as online movies, TV series, and short videos. M4A, in contrast, mainly focus on the multiplexing of audio elements. Both formats play an important role in editing, storing, and sharing multimedia content.
In terms of video encoding and decoding, both H.264 (AVC) and H.265 (HEVC) are supported. H.265 provides a higher video compression rate than H.264, saving the storage space. For example, when recording the same video file, an MP4 file encoded with H.265 will be significantly smaller.
AAC and FLAC are supported for audio encoding. AAC, MPEG (MP3), FLAC, and Vorbis are supported for audio decoding.

Reference

Media Data Multiplexing