| Additional Information - Condensed Financial Statements of the Company |
24. Additional Information - Condensed Financial Statements of the Company The condensed financial statements of Phoenix New Media Limited have been prepared in accordance with SEC Regulation S-X Rule 5-04 and Rule 12-04. The Company records its investments in its subsidiaries under the equity method of accounting and the consolidated net assets of the VIEs under ASC 810. Such investments are presented on the balance sheets as “Investments in the subsidiaries”, and the net profit or loss of subsidiaries and VIEs is presented as “Share of loss from the subsidiaries” in the statement of comprehensive income/(loss). As of December 31, 2024 and 2025, there were no material contingencies, significant provisions for long-term obligations, or guarantees of the Company, except for those, if any, which have been separately disclosed in the consolidated financial statements. Phoenix New Media Limited Condensed Financial Information of the Company Balance Sheets (Amounts in thousands, except for number of shares and per share data)
|
|
|
|
|
|
|
|
|
|
|
As of December 31, |
|
|
|
2024 |
|
|
2025 |
|
|
|
RMB |
|
|
RMB |
|
ASSETS |
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
Cash and cash equivalents |
|
|
480 |
|
|
|
559 |
|
Amounts due from subsidiaries and VIEs |
|
|
962,552 |
|
|
|
942,892 |
|
Prepayments and other current assets |
|
|
3,609 |
|
|
|
3,204 |
|
Total current assets |
|
|
966,641 |
|
|
|
946,655 |
|
Non-current assets: |
|
|
|
|
|
|
Investments in the subsidiaries |
|
|
488,251 |
|
|
|
500,416 |
|
Available-for-sale debt investments |
|
|
313 |
|
|
|
306 |
|
Total non-current assets |
|
|
488,564 |
|
|
|
500,722 |
|
Total assets |
|
|
1,455,205 |
|
|
|
1,447,377 |
|
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
Amounts due to subsidiaries and VIEs |
|
|
278,913 |
|
|
|
275,349 |
|
Accrued expenses and other current liabilities |
|
|
1,025 |
|
|
|
885 |
|
Total current liabilities |
|
|
279,938 |
|
|
|
276,234 |
|
Total liabilities |
|
|
279,938 |
|
|
|
276,234 |
|
Shareholders’ equity: |
|
|
|
|
|
|
Class A ordinary shares (US$0.01 par value, 680,000,000 shares authorized; 264,998,965 shares issued and 259,191,877 shares outstanding as of December 31, 2024 and 2025, respectively) |
|
|
17,499 |
|
|
|
17,499 |
|
Class B ordinary shares (US$0.01 par value, 320,000,000 shares authorized; 317,325,360 shares issued and 317,325,360 shares outstanding as of December 31, 2024 and 2025, respectively) |
|
|
22,053 |
|
|
|
22,053 |
|
Additional paid-in capital |
|
|
1,642,077 |
|
|
|
1,642,094 |
|
Treasury stock (5,807,088 shares as of December 31, 2024 and 2025, respectively) |
|
|
(1,480 |
) |
|
|
(1,480 |
) |
Accumulated deficits |
|
|
(467,577 |
) |
|
|
(467,241 |
) |
Accumulated other comprehensive loss |
|
|
(37,305 |
) |
|
|
(41,782 |
) |
Total shareholders’ equity |
|
|
1,175,267 |
|
|
|
1,171,143 |
|
Total liabilities and shareholders’ equity |
|
|
1,455,205 |
|
|
|
1,447,377 |
|
Phoenix New Media Limited Condensed Financial Information of the Company Statements of Comprehensive Income/(Loss) (Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Years Ended December 31, |
|
|
|
2023 |
|
|
2024 |
|
|
2025 |
|
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
General and administrative expenses |
|
|
(16,902 |
) |
|
|
(8,979 |
) |
|
|
(6,562 |
) |
Total operating expenses |
|
|
(16,902 |
) |
|
|
(8,979 |
) |
|
|
(6,562 |
) |
Loss from operations |
|
|
(16,902 |
) |
|
|
(8,979 |
) |
|
|
(6,562 |
) |
Other income/(loss): |
|
|
|
|
|
|
|
|
|
Net interest income |
|
|
944 |
|
|
|
1,072 |
|
|
|
2 |
|
Foreign currency exchange (loss)/gain |
|
|
(4,181 |
) |
|
|
(3,628 |
) |
|
|
5,482 |
|
Share of (loss)/income from the subsidiaries |
|
|
(82,357 |
) |
|
|
(42,019 |
) |
|
|
1,414 |
|
Net (loss)/income |
|
|
(102,496 |
) |
|
|
(53,554 |
) |
|
|
336 |
|
Other comprehensive income/(loss) |
|
|
5,005 |
|
|
|
3,092 |
|
|
|
(4,477 |
) |
Comprehensive loss |
|
|
(97,491 |
) |
|
|
(50,462 |
) |
|
|
(4,141 |
) |
Phoenix New Media Limited Condensed Financial Information of the Company Statements of Cash Flows (Amounts in thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Years Ended December 31, |
|
|
|
2023 |
|
|
2024 |
|
|
2025 |
|
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
|
Net cash used in operating activities |
|
|
(20,850 |
) |
|
|
(4,497 |
) |
|
|
(6,364 |
) |
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
|
Placement of short-term investments |
|
|
(58,951 |
) |
|
|
(108,928 |
) |
|
|
— |
|
Maturity of short-term investments |
|
|
61,388 |
|
|
|
108,928 |
|
|
|
— |
|
Return of equity investment principal from a subsidiary |
|
|
19,722 |
|
|
|
— |
|
|
|
— |
|
Net cash provided by investing activities |
|
|
22,159 |
|
|
|
— |
|
|
|
— |
|
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
|
Repayment from/(payment to) subsidiaries and VIEs |
|
|
10,332 |
|
|
|
(15,736 |
) |
|
|
6,443 |
|
Repurchase of ordinary shares |
|
|
(655 |
) |
|
|
(825 |
) |
|
|
— |
|
Net cash provided by/(used in) financing activities |
|
|
9,677 |
|
|
|
(16,561 |
) |
|
|
6,443 |
|
Net increase/(decrease) in cash and cash equivalents |
|
|
10,986 |
|
|
|
(21,058 |
) |
|
|
79 |
|
Cash and cash equivalents at the beginning of the year |
|
|
10,552 |
|
|
|
21,538 |
|
|
|
480 |
|
Cash and cash equivalents at the end of the year |
|
|
21,538 |
|
|
|
480 |
|
|
|
559 |
|
|