v3.26.1
Consolidated Balance Sheets
¥ in Thousands, $ in Millions
Dec. 31, 2025
CNY (¥)
Dec. 31, 2024
CNY (¥)
Current assets:    
Cash and cash equivalents ¥ 537,549 ¥ 607,579
Term deposits and short term investments 464,226 428,343
Restricted cash 16,102 9,761
Accounts receivable, net 293,119 326,795
Prepayments and other current assets 32,905 25,470
Total current assets 1,418,293 1,474,352
Non-current assets:    
Property and equipment, net 10,728 4,440
Intangible assets, net 10,415 13,723
Available-for-sale debt investments 306 313
Equity investments, net 104,124 85,436
Deferred income tax assets, net 53,331 63,258
Operating lease right-of-use assets, net 41,957 56,791
Other non-current assets 10,635 13,614
Total non-current assets 231,496 237,575
Total assets 1,649,789 1,711,927
Current liabilities (including amounts of the consolidated VIEs, excluding inter-company amounts, without recourse to the Company of RMB228,861 and RMB222,449 as of December 31, 2024 and 2025, respectively. Note 1):    
Accounts payable 122,420 144,670
Advances from customers 26,203 29,104
Taxes payable 176,404 175,932
Salary and welfare payable 73,203 86,607
Accrued expenses and other current liabilities 56,782 65,708
Operating lease liabilities 14,098 10,972
Total current liabilities 498,254 537,320
Non-current liabilities (including amounts of the consolidated VIEs, excluding inter-company amounts, without recourse to the Company of RMB17,305 and RMB10,289 as of December 31, 2024 and 2025, respectively. Note 1):    
Long-term liabilities 13,996 15,497
Operating lease liabilities 29,224 45,700
Total non-current liabilities 43,220 61,197
Total liabilities 541,474 598,517
Commitments and contingencies (Note 20)
Shareholders’ equity:    
Additional paid-in capital 1,642,094 1,642,077
Treasury stock (5,807,088 shares as of December 31, 2024 and 2025, respectively) (1,480) (1,480)
Statutory reserves 100,214 99,124
Accumulated deficits (567,455) (566,701)
Accumulated other comprehensive loss (41,782) (37,305)
Total Phoenix New Media Limited shareholders’ equity 1,171,143 1,175,267
Noncontrolling interests (62,828) (61,857)
Total shareholders’ equity 1,108,315 1,113,410
Total liabilities and shareholders’ equity 1,649,789 1,711,927
Related Party [Member]    
Current assets:    
Amounts due from related parties 74,392 76,404
Current liabilities (including amounts of the consolidated VIEs, excluding inter-company amounts, without recourse to the Company of RMB228,861 and RMB222,449 as of December 31, 2024 and 2025, respectively. Note 1):    
Amounts due to related parties 29,144 24,327
Class A ordinary shares    
Shareholders’ equity:    
Ordinary shares 17,499 17,499
Treasury stock (5,807,088 shares as of December 31, 2024 and 2025, respectively) (1,500)  
Class B ordinary shares    
Shareholders’ equity:    
Ordinary shares ¥ 22,053 ¥ 22,053