Phoenix New Media Ltd

Phoenix New Media Limited is a new media company in China that provides content through an integrated internet platform accessible on PCs and mobile devices. Originating from Phoenix TV, a global Chinese language TV network based in Hong Kong, the company offers professional news and other high-quality information. Its content covers news, military affairs, technology, finance, entertainment, and lifestyle topics, delivered as articles, video, livestreaming, and digital reading products, supported by branded content programs. Main distribution channels include PC websites, mobile applications, mobile internet websites, and third-party platform accounts. The company's brand is affiliated with the "Phoenix" ("凤凰") brand of Phoenix TV. In 2025, revenues came from advertising (80.2% of total revenues) and paid services (19.8% of total revenues). Paid services revenues in 2025 consisted of paid content (90.4%) and e-commerce and others (9.6%). Phoenix New Media Limited is a subsidiary of Phoenix TV, which indirectly owned 55.0% of its ordinary shares and 61.4% of the voting power of its ordinary shares as of March 31, 2026. The company uses copyrighted content and trademarks from Phoenix TV Group under licensing agreements.