Phoenix New Media Balance Sheet

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
Cash & Equivalents	537.55	607.58	527.41	95.98	188.98
Short-Term Investments	464.23	428.34	558.77	1,050	1,309
Cash & Short-Term Investments	1,002	1,036	1,086	1,146	1,498
Cash Growth	-3.30%	-4.63%	-5.18%	-23.53%	-8.54%
Accounts Receivable	367.51	403.2	351.3	474.8	514.01
Other Receivables	-	-	-	3.39	4.11
Receivables	367.51	403.2	351.3	478.19	518.12
Prepaid Expenses	-	7.06	7.33	7.41	15.8
Restricted Cash	16.1	9.76	7.05	9.06	15.62
Other Current Assets	32.91	18.41	26.78	21.45	29.46
Total Current Assets	1,418	1,474	1,479	1,662	2,077
Property, Plant & Equipment	52.69	61.23	75.19	116.64	70.41
Long-Term Investments	104.43	85.75	101.53	114.69	140.53
Other Intangible Assets	10.42	13.72	20.05	29.13	22.5
Long-Term Deferred Tax Assets	53.33	63.26	70.17	89.06	92.19
Other Long-Term Assets	10.64	13.61	13.18	19.65	3.22
Total Assets	1,650	1,712	1,759	2,031	2,406
Accounts Payable	122.42	144.67	122.13	176.96	217.17
Accrued Expenses	129.99	123.11	127.58	149.1	197.87
Current Portion of Leases	14.1	10.97	19.92	23.64	25.78
Current Income Taxes Payable	176.4	175.93	170.48	183.53	412.78
Current Unearned Revenue	26.2	29.1	34.2	31.94	33.46
Other Current Liabilities	29.14	53.53	52.69	99.16	79.92
Total Current Liabilities	498.25	537.32	526.99	664.32	966.98
Long-Term Leases	29.22	45.7	49.53	80.95	20.07
Long-Term Deferred Tax Liabilities	-	-	-	-	1.31
Other Long-Term Liabilities	14	15.5	18.6	20.33	28.33
Total Liabilities	541.47	598.52	595.12	765.6	1,017
Common Stock	39.55	39.55	39.55	39.55	39.55
Additional Paid-In Capital	1,642	1,642	1,641	1,637	1,629
Retained Earnings	-467.24	-467.58	-414.02	-311.53	-201.88
Treasury Stock	-1.48	-1.48	-0.66	-	-
Comprehensive Income & Other	-41.78	-37.31	-40.4	-45.4	-39.31
Total Common Equity	1,171	1,175	1,225	1,319	1,427
Minority Interest	-62.83	-61.86	-61.39	-54.22	-38.23
Shareholders' Equity	1,108	1,113	1,164	1,265	1,389
Total Liabilities & Equity	1,650	1,712	1,759	2,031	2,406
Total Debt	43.32	56.67	69.44	104.59	45.85
Net Cash (Debt)	958.45	979.25	1,017	1,041	1,452
Net Cash Growth	-2.12%	-3.69%	-2.33%	-28.32%	-8.37%
Net Cash Per Share	79.80	81.49	83.82	85.80	119.70
Filing Date Shares Outstanding	12.01	12.01	12.01	12.13	12.13
Total Common Shares Outstanding	12.01	12.01	12.09	12.13	12.13
Working Capital	920.04	937.03	951.63	997.33	1,110
Book Value Per Share	97.51	97.85	101.33	108.76	117.66
Tangible Book Value	1,161	1,162	1,205	1,290	1,405
Tangible Book Value Per Share	96.64	96.71	99.67	106.36	115.80
Machinery	-	44.53	46.64	79.25	113.23
Leasehold Improvements	-	45.26	47.97	47.97	42.36

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