Phoenix New Media Income Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	765.57	703.7	692.02	785.71	1,030
Revenue Growth (YoY)	8.79%	1.69%	-11.92%	-23.74%	-14.77%
Cost of Revenue	391.42	434.99	464.15	548.51	597.4
Gross Profit	374.15	268.71	227.88	237.2	432.93
Selling, General & Admin	343.93	262.68	270.91	296.83	610.44
Research & Development	64.6	70.75	82.66	131.81	158.59
Operating Expenses	408.53	333.43	353.57	428.64	769.03
Operating Income	-34.38	-64.72	-125.7	-191.44	-336.1
Interest & Investment Income	21.03	32.4	34.67	31.41	47.3
Earnings From Equity Investments	-3.92	-15.96	-11.13	-8.2	0.4
Currency Exchange Gain (Loss)	1.48	-1.52	-1.95	-32.87	8.61
Other Non Operating Income (Expenses)	0.53	0.9	8.4	8.29	25.39
EBT Excluding Unusual Items	-15.26	-48.91	-95.7	-192.8	-254.39
Gain (Loss) on Sale of Investments	23.78	0.6	-0.44	-3.32	1.91
Pretax Income	8.52	-48.3	-96.14	-196.11	-252.49
Income Tax Expense	8.16	4.65	12.98	-70.39	20.58
Earnings From Continuing Operations	0.37	-52.95	-109.12	-125.72	-273.07
Net Income to Company	0.37	-52.95	-109.12	-125.72	-273.07
Minority Interest in Earnings	-0.03	-0.61	6.62	16.07	67.37
Net Income	0.34	-53.55	-102.5	-109.65	-205.7
Net Income to Common	0.34	-53.55	-102.5	-109.65	-205.7
Shares Outstanding (Basic)	12	12	12	12	12
Shares Outstanding (Diluted)	12	12	12	12	12
Shares Change (YoY)	-0.05%	-0.94%	-0.01%	-	-
EPS (Basic)	0.03	-4.46	-8.45	-9.04	-16.96
EPS (Diluted)	0.03	-4.46	-8.64	-9.12	-16.96
Free Cash Flow	-	-49.52	-70.54	-346.37	-159.66
Free Cash Flow Per Share	-	-4.12	-5.82	-28.55	-13.16
Gross Margin	48.87%	38.19%	32.93%	30.19%	42.02%
Operating Margin	-4.49%	-9.20%	-18.16%	-24.37%	-32.62%
Profit Margin	0.04%	-7.61%	-14.81%	-13.96%	-19.96%
Free Cash Flow Margin	-	-7.04%	-10.19%	-44.08%	-15.50%
EBITDA	-20.56	-50.9	-104.17	-165.19	-307.59
EBITDA Margin	-2.69%	-7.23%	-15.05%	-21.02%	-29.85%
D&A For EBITDA	13.82	13.82	21.53	26.25	28.5
EBIT	-34.38	-64.72	-125.7	-191.44	-336.1
EBIT Margin	-4.49%	-9.20%	-18.16%	-24.37%	-32.62%
Effective Tax Rate	95.72%	-	-	-	-
Revenue as Reported	765.57	703.7	692.02	785.71	1,030
Advertising Expenses	-	47.4	24.7	40.9	70.7

Source: S&P Global Market Intelligence. Standard template. Financial Sources.