Phoenix New Media Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	488.3	607.58	527.41	95.98	188.98	357.8
Short-Term Investments	505.46	428.34	558.77	1,050	1,309	1,280
Cash & Short-Term Investments	993.76	1,036	1,086	1,146	1,498	1,638
Cash Growth	2.94%	-4.63%	-5.18%	-23.53%	-8.54%	3.48%
Accounts Receivable	368.01	403.2	351.3	474.8	514.01	708.2
Other Receivables	-	-	-	3.39	4.11	4.7
Receivables	368.01	403.2	351.3	478.19	518.12	712.9
Prepaid Expenses	-	7.06	7.33	7.41	15.8	8.7
Restricted Cash	6.25	9.76	7.05	9.06	15.62	31.04
Other Current Assets	33.84	18.41	26.78	21.45	29.46	29.46
Total Current Assets	1,402	1,474	1,479	1,662	2,077	2,420
Property, Plant & Equipment	56.28	61.23	75.19	116.64	70.41	112.14
Long-Term Investments	91.5	85.75	101.53	114.69	140.53	131.48
Other Intangible Assets	11.2	13.72	20.05	29.13	22.5	12.4
Long-Term Deferred Tax Assets	55.84	63.26	70.17	89.06	92.19	86.87
Other Long-Term Assets	12.82	13.61	13.18	19.65	3.22	9.75
Total Assets	1,629	1,712	1,759	2,031	2,406	2,773
Accounts Payable	136.62	144.67	122.13	176.96	217.17	221.2
Accrued Expenses	128.51	123.11	127.58	149.1	197.87	249.66
Current Portion of Leases	14.01	10.97	19.92	23.64	25.78	36.37
Current Income Taxes Payable	173.78	175.93	170.48	183.53	412.78	402.61
Current Unearned Revenue	28.24	29.1	34.2	31.94	33.46	38.84
Other Current Liabilities	33.88	53.53	52.69	99.16	79.92	113.74
Total Current Liabilities	515.03	537.32	526.99	664.32	966.98	1,062
Long-Term Leases	33.83	45.7	49.53	80.95	20.07	16.67
Long-Term Deferred Tax Liabilities	-	-	-	-	1.31	1.31
Other Long-Term Liabilities	15.5	15.5	18.6	20.33	28.33	28.18
Total Liabilities	564.36	598.52	595.12	765.6	1,017	1,109
Common Stock	39.55	39.55	39.55	39.55	39.55	39.55
Additional Paid-In Capital	1,642	1,642	1,641	1,637	1,629	1,621
Retained Earnings	-512.58	-467.58	-414.02	-311.53	-201.88	3.83
Treasury Stock	-1.48	-1.48	-0.66	-	-	-
Comprehensive Income & Other	-39.64	-37.31	-40.4	-45.4	-39.31	-28.21
Total Common Equity	1,128	1,175	1,225	1,319	1,427	1,636
Minority Interest	-62.81	-61.86	-61.39	-54.22	-38.23	28.23
Shareholders' Equity	1,065	1,113	1,164	1,265	1,389	1,664
Total Liabilities & Equity	1,629	1,712	1,759	2,031	2,406	2,773
Total Debt	47.83	56.67	69.44	104.59	45.85	53.04
Net Cash (Debt)	945.93	979.25	1,017	1,041	1,452	1,585
Net Cash Growth	3.73%	-3.69%	-2.33%	-28.32%	-8.37%	6.01%
Net Cash Per Share	78.76	81.49	83.82	85.80	119.70	130.63
Filing Date Shares Outstanding	12.01	12.01	12.01	12.13	12.13	12.13
Total Common Shares Outstanding	12.01	12.01	12.09	12.13	12.13	12.13
Working Capital	886.83	937.03	951.63	997.33	1,110	1,358
Book Value Per Share	93.91	97.85	101.33	108.76	117.66	134.83
Tangible Book Value	1,117	1,162	1,205	1,290	1,405	1,623
Tangible Book Value Per Share	92.98	96.71	99.67	106.36	115.80	133.81
Machinery	-	44.53	46.64	79.25	113.23	176.59
Leasehold Improvements	-	45.26	47.97	47.97	42.36	42.09

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