Phoenix New Media Limited (FENG)

Phoenix New Media Cash Flow Statement

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

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-53.55	-102.5	-109.65	-205.7
Depreciation & Amortization	34.92	42.56	54.75	66.05
Loss (Gain) From Sale of Assets	-0.13	-1.3	2.67	1.11
Asset Writedown & Restructuring Costs	-	-	1.11	0.37
Loss (Gain) From Sale of Investments	-0.6	0.44	3.32	-1.91
Loss (Gain) on Equity Investments	15.96	11.13	8.2	-0.4
Stock-Based Compensation	1.54	3.71	7.88	9.58
Provision & Write-off of Bad Debts	-3.2	14.34	-23.54	186.52
Other Operating Activities	9.04	14.22	18.62	-81.3
Change in Accounts Receivable	-29.08	112.9	47.54	33.16
Change in Accounts Payable	22.58	-54.7	-35.28	-9.08
Change in Income Taxes	6.34	-5.89	15.73	10.17
Change in Other Net Operating Assets	-48.12	-95.73	-63.35	-151.39
Operating Cash Flow	-44.3	-60.83	-312.41	-142.82
Capital Expenditures	-5.22	-9.72	-33.96	-16.83
Sale of Property, Plant & Equipment	0.27	3.77	8.58	17.38
Investment in Securities	132.04	493.26	253.87	-43.2
Other Investing Activities	0.43	0.53	0.21	-
Investing Cash Flow	127.52	487.84	228.7	-42.65
Repurchase of Common Stock	-0.83	-0.66	-	-
Common Dividends Paid	-	-	-	-3.54
Other Financing Activities	-1.08	-	-	-
Financing Cash Flow	-1.9	-0.66	-	-3.54
Foreign Exchange Rate Adjustments	1.57	3.06	-15.85	4.78
Net Cash Flow	82.88	429.42	-99.56	-184.24
Free Cash Flow	-49.52	-70.54	-346.37	-159.66
Free Cash Flow Margin	-7.04%	-10.19%	-44.08%	-15.50%
Free Cash Flow Per Share	-4.12	-5.82	-28.55	-13.16
Cash Income Tax Paid	0.09	0.06	176.18	1.01
Levered Free Cash Flow	-35.92	-51.95	-328.61	-33.01
Unlevered Free Cash Flow	-35.92	-51.95	-328.61	-33.01
Change in Working Capital	-48.28	-43.42	-275.76	-117.15

Updated Mar 10, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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