Phoenix New Media Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	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
Net Income	-53.55	-102.5	-109.65	-205.7	380.37
Depreciation & Amortization	34.92	42.56	54.75	66.05	78.91
Loss (Gain) From Sale of Assets	-0.13	-1.3	2.67	1.11	-1.64
Asset Writedown & Restructuring Costs	-	-	1.11	0.37	33.36
Loss (Gain) From Sale of Investments	-0.6	0.44	3.32	-1.91	-571.86
Loss (Gain) on Equity Investments	15.96	11.13	8.2	-0.4	-5.6
Stock-Based Compensation	1.54	3.71	7.88	9.58	9.38
Provision & Write-off of Bad Debts	-3.2	14.34	-23.54	186.52	75.84
Other Operating Activities	9.04	14.22	18.62	-81.3	12.7
Change in Accounts Receivable	-29.08	112.9	47.54	33.16	-149.78
Change in Accounts Payable	22.58	-54.7	-35.28	-9.08	-27.72
Change in Income Taxes	6.34	-5.89	15.73	10.17	20.78
Change in Other Net Operating Assets	-48.12	-95.73	-63.35	-151.39	-78.99
Operating Cash Flow	-44.3	-60.83	-312.41	-142.82	-56.27
Capital Expenditures	-5.22	-9.72	-33.96	-16.83	-12.09
Sale of Property, Plant & Equipment	0.27	3.77	8.58	17.38	-
Investment in Securities	132.04	493.26	253.87	-43.2	561.42
Other Investing Activities	0.43	0.53	0.21	-	265.75
Investing Cash Flow	127.52	487.84	228.7	-42.65	746.22
Short-Term Debt Repaid	-	-	-	-	-7.63
Total Debt Repaid	-	-	-	-	-7.63
Net Debt Issued (Repaid)	-	-	-	-	-7.63
Repurchase of Common Stock	-0.83	-0.66	-	-	-
Common Dividends Paid	-	-	-	-3.54	-
Other Financing Activities	-1.08	-	-	-	13.21
Financing Cash Flow	-1.9	-0.66	-	-3.54	-639.66
Foreign Exchange Rate Adjustments	1.57	3.06	-15.85	4.78	-38.56
Net Cash Flow	82.88	429.42	-99.56	-184.24	11.73
Free Cash Flow	-49.52	-70.54	-346.37	-159.66	-68.36
Free Cash Flow Margin	-7.04%	-10.19%	-44.08%	-15.50%	-5.66%
Free Cash Flow Per Share	-4.12	-5.82	-28.55	-13.16	-5.63
Cash Interest Paid	-	-	-	-	1.11
Cash Income Tax Paid	0.09	0.06	176.18	1.01	1.69
Levered Free Cash Flow	-35.92	-51.95	-328.61	-33.01	-238.68
Unlevered Free Cash Flow	-35.92	-51.95	-328.61	-33.01	-238.68
Change in Working Capital	-48.28	-43.42	-275.76	-117.15	-139.11

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