Financial Data and Key Metrics Changes - Total revenues for Q4 2025 were CNY 222.0 million, a 1.9% increase year-on-year from CNY 218.1 million [9] - Net advertising revenues decreased to CNY 181.1 million from CNY 189 million in the same period last year [9] - Paid services revenue increased by 41.6% year-on-year to CNY 41.2 million from CNY 29.1 million [9] - Cost of revenues decreased by 18.6% to CNY 98.6 million from CNY 121.1 million [9] - Gross margin improved to 35.6% from 44.5% in the same period last year [10] - Income from operations increased by 265.7% to CNY 24.5 million from CNY 6.7 million [10] - Net income attributable to the company was CNY 45.0 million, compared to a net loss of CNY 3.6 million in the same period last year [10] - Cash and cash equivalents totaled CNY 1.02 billion, approximately $135.6 million [11] Business Line Data and Key Metrics Changes - The company focused on enhancing its core capabilities and original content system, which contributed to its performance in major political and current affairs topics [4] - The company reported significant engagement with original content, with episodes reaching up to 145 million views [6][7] - The integration of content with high-end events, such as the Action League charity gala, reinforced the company's social influence [7] Market Data and Key Metrics Changes - The advertising market faced challenges, with declines in budgets among major internet platforms, particularly in the automotive and liquor sectors [15] - Growth was observed in consumer categories such as personal care, tourism, entertainment, and home appliances, partially offsetting declines in traditional sectors [15] Company Strategy and Development Direction - The company aims to enhance the quality and influence of its core columns and flagship products while managing risks and advancing transformation [3] - There is a focus on developing original content as a core asset and leveraging technology for efficiency [8] - The company plans to prioritize sectors with stronger budget potential, including home appliances and transportation, while aligning with technological innovation and green consumption [15] Management's Comments on Operating Environment and Future Outlook - The management acknowledged the intense competition in the macroeconomic environment and emphasized the need to optimize client mix and explore new growth drivers [15] - The company views internationalization as a key differentiator and aims to strengthen connections with overseas business communities [15] - AI technologies will be increasingly applied to content production and data analytics to improve marketing efficiency [15] Other Important Information - The company has seen significant growth in social media engagement, with a 54% increase in average likes per post on Douyin and a total follower count of 18.9 million [8] Q&A Session Summary Question: What are the key challenges the company is currently facing, and how do you view the outlook for the advertising market in 2026? - The management noted a decline in advertising budgets among major internet platforms, particularly in the automotive and liquor sectors, but growth in consumer categories like personal care and home appliances [15] - The company will focus on optimizing its client mix and exploring new growth drivers, with internationalization being a key differentiator [15] - Demand for short-form video is growing, and the company will enhance content differentiation and conversion capabilities [15]

Financial Data and Key Metrics Changes - Total revenues for Q4 2025 were CNY 222.0 million, a 1.9% increase year-on-year from CNY 218.1 million [10] - Net advertising revenues decreased to CNY 181.1 million from CNY 189 million in the same period last year [10] - Paid services revenue increased by 41.6% year-on-year to CNY 41.2 million from CNY 29.1 million [10] - Cost of revenues decreased by 18.6% to CNY 98.6 million from CNY 121.1 million [10] - Gross margin improved to 35.6% from 44.5% in the same period last year [11] - Income from operations increased by 265.7% to CNY 24.5 million from CNY 6.7 million [11] - Net income attributable to the company was CNY 45.0 million, compared to a net loss of CNY 3.6 million in the same period last year [11] - Cash and cash equivalents totaled CNY 1.02 billion, approximately $135.6 million [12] Business Line Data and Key Metrics Changes - The company focused on enhancing in-depth reporting and professional commentary, optimizing key events and branded initiatives [4] - Original content, particularly human-centered stories, remained a strong foundation for audience engagement [6] - The company strengthened its presence in high-end events, integrating resources for synergy between content and offline events [8] - Average likes per post on Douyin increased by 54% quarter-over-quarter, with total followers growing to 18.9 million [9] - Interaction volume increased by over 10%, and average time spent per user rose 8% quarter-over-quarter [9] Market Data and Key Metrics Changes - Advertising budgets declined among major internet platforms, particularly in the automotive and liquor sectors [15] - Growth was observed in consumer categories such as personal care, tourism, entertainment, and home appliances [15] - The company aims to prioritize sectors with stronger budget potential, including home appliances and daily consumer goods [16] Company Strategy and Development Direction - The company will continue to focus on core strengths and long-term strategy while managing risks prudently [4] - Emphasis on developing original content as a core asset and leveraging technology for efficiency [9] - Internationalization is seen as a key differentiator, enhancing brand influence and collaboration potential [15] - The company plans to enhance content differentiation and conversion capabilities through social media metrics [16] Management's Comments on Operating Environment and Future Outlook - The macroeconomic environment remains challenging, with intense market competition [5] - The company will focus on optimizing client mix and exploring new growth drivers [15] - AI technologies will be increasingly applied to content production and data analytics to improve marketing efficiency [16] - The forecast for total revenue in Q1 2026 is between CNY 160 million and CNY 175 million [12] Other Important Information - The company’s Action League charity gala marked its 10th anniversary, enhancing its social influence in public welfare [8] - The company’s cooperation within Huawei's HarmonyOS ecosystem provides a stable traffic entry point and deeper technological collaboration [9] Q&A Session Summary Question: What are the key challenges the company is currently facing, and how do you view the outlook for the advertising market in 2026? - The company noted that advertising budgets declined among major internet platforms, particularly in the automotive and liquor sectors, but achieved growth in consumer categories like personal care and home appliances [15] - The company will focus on optimizing its client mix and exploring new growth drivers, with internationalization as a key differentiator [15] - Demand for short-form video is growing, and the company will enhance content differentiation and conversion capabilities [16]

本公告已以英文發行並附有單獨的中文翻譯。如中、英文兩個版本有任何抵觸或不 相符之處，概以英文版本為準。 香港，2026年3月11日 上市附屬公司–鳳凰新媒體有限公司 2025 年第四季度及年度之未經審核財務業績公佈 本公告乃由鳳凰衛視投資(控股)有限公司(「本公司」)根據香港聯合交易所有限公司 證劵上市規則第13.10B條而作出。 本公司非全資附屬公司鳳凰新媒體有限公司(「鳳凰新媒體」)(其股份以美國預託股 份之形式於美國紐約證券交易所上市)已於2026年3月11日就鳳凰新媒體2025年第四 季度及年度的未經審核財務業績(「業績」)，向美國證券及交易局(the United States Securities and Exchange Commission)提交6-K表格。詳情請參閱隨附的業績。 PHOENIX MEDIA INVESTMENT (HOLDINGS) LIMITED 鳳凰衛視投資(控股) 有限公司 （於開曼群島註冊成立之有限公司） (股份代號：02008) 海外監管公告 香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 ...

Group 1 - The article discusses job openings at Phoenix Finance, emphasizing the need for original editors and financial news editors to produce high-impact content [1][2] - The company seeks candidates with a solid understanding of finance, capable of analyzing financial reports and industry logic, and familiar with capital markets [1] - The positions require strong writing skills, the ability to create engaging content, and experience in commercial planning, preferably with a background in advertising [1][2] Group 2 - Candidates should have a high sensitivity to financial news events and the ability to quickly respond to online trends, contributing to financial topic planning and execution [3] - The role involves daily financial news editing, ensuring timely and accurate content, and proactive planning of financial hot topics and in-depth features [3] - The company offers competitive compensation, performance incentives, and opportunities for professional growth within the financial media sector [2]

Scinai Signs Second Amendment to PinCell Option Agreement and Submits Revised €12 Million Non- Dilutive FENG Application to Advance PC111 Through Human Proof of Concept [Accessibility Statement] Skip NavigationJERUSALEM, March 2, 2026 /PRNewswire/ -- [Scinai Immunotherapeutics Ltd.](Nasdaq: SCNI);("Scinai" or the "Company"), today announced the execution of a Second Amendment to its Binding Option Agreement for the acquisition of PinCell S.r.l., and the submission of a revised application under the European ...

Financial Data and Key Metrics Changes - Total revenues for Q3 2025 were RMB 200.9 million, a 22.3% increase year-on-year from RMB 164.3 million [9] - Net advertising revenues reached RMB 159.3 million, reflecting a 7.3% increase year-on-year from RMB 148.4 million [10] - Paid services revenues surged to RMB 41.6 million, marking a 161.6% increase year-on-year from RMB 15.9 million [10] - Loss from operations improved to RMB 13.3 million, compared to RMB 25.9 million in the same period last year [10] - Net loss attributable to the company was RMB 4.9 million, down from RMB 18.5 million in the same period last year [10] - Cash and cash equivalents totaled RMB 1 billion, approximately $140.5 million as of September 30, 2025 [11] Business Line Data and Key Metrics Changes - The company achieved solid progress in commercialization and user engagement through high-quality original content and innovative product experiences [4] - The Star Anchor Program, which helps train new content creators, tripled its revenue this year, indicating strong demand for content creators [14][15] Market Data and Key Metrics Changes - The company successfully hosted significant events such as the Shanxi Cultural and Tourism Development Promotion Event, generating over 2 billion online impressions [5] - The Phoenix Bay Area Finance Forum 2025 achieved over 720 million total impressions, showcasing the company's strong brand influence [6] Company Strategy and Development Direction - The company aims to prioritize content innovation and IP creation, enhance brand influence, diversify monetization channels, and improve operational efficiency for sustainable long-term growth [9] - Strategic cooperation with HarmonyOS is expected to yield further benefits, with the Phoenix News App being showcased at Huawei's new product launch [8][9] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges in the advertising market, noting that many clients remain cautious with their budgets [14] - The company plans to focus on innovation and improving service capabilities to maintain steady performance amid intense competition in Q4 [15] Other Important Information - The company’s media influence and resource integration capabilities supported significant growth in public and regional sectors [5] - The number of followers on Phoenix Video accounts grew by nearly 500,000 in Q3, indicating strong traction on video platforms [8] Q&A Session Summary Question: How did the advertising business manage to grow in Q3 despite market pressure? - Management highlighted close collaboration between sales units and content teams, which allowed for quicker and more precise responses to client needs. They also emphasized the importance of following marketing trends and connecting with key clients through events like the Shanxi Culture and Tourism Promotion Event [14][15] Question: What is the outlook for the ad market in Q4? - Management indicated that competition will remain intense and cost control will be critical. They will continue to focus on innovation and improving service capabilities to maintain steady performance [15]

Financial Performance - Total revenues increased by 22.3% to RMB200.9 million (US$28.2 million) in Q3 2025, from RMB164.3 million in Q3 2024[3] - Net advertising revenues increased by 7.3% to RMB159.3 million (US$22.4 million) in Q3 2025, from RMB148.4 million in Q3 2024[3] - Paid services revenues increased significantly by 161.6% to RMB41.6 million (US$5.8 million) in Q3 2025, compared to RMB15.9 million in Q3 2024[4] - Revenues from paid contents increased substantially by 279.2% to RMB38.3 million (US$5.3 million) in Q3 2025, from RMB10.1 million in Q3 2024, driven by digital reading services[4] - Revenues from E-commerce and others decreased by 43.1% to RMB3.3 million (US$0.5 million) in Q3 2025, from RMB5.8 million in Q3 2024, due to scaling down the E-commerce business[4] - Gross profit increased by 53.6% to RMB95.7 million (US$13.4 million) in Q3 2025, from RMB62.3 million in Q3 2024, with gross margin at 47.6% compared to 37.9%[6] - Net loss attributable to Phoenix New Media Limited decreased to RMB4.9 million (US$0.7 million) in Q3 2025, compared to a net loss of RMB18.5 million in Q3 2024[12] Expenses and Losses - Cost of revenues increased by 3.1% to RMB105.2 million (US$14.8 million) in Q3 2025, from RMB102.0 million in Q3 2024[5] - Total operating expenses increased by 23.6% to RMB109.0 million (US$15.3 million) in Q3 2025, from RMB88.2 million in Q3 2024, mainly due to higher sales and marketing expenses[8] - Loss from operations was RMB13.3 million (US$1.9 million) in Q3 2025, compared to a loss of RMB25.9 million in the same period of 2024[9] Business Outlook - The company expects total revenues for Q4 2025 to be between RMB205.9 million and RMB220.9 million, with net advertising revenues between RMB171.4 million and RMB181.4 million, and paid services revenues between RMB34.5 million and RMB39.5 million[16]

Core Insights - Phoenix New Media reported a total revenue of RMB 200.9 million (approximately USD 28.2 million) for Q3 2025, representing a 22.3% increase compared to RMB 164.3 million in Q3 2024, driven by growth in paid services and advertising revenue [1] - The company's net advertising revenue for Q3 2025 was RMB 159.3 million (approximately USD 22.4 million), up 7.3% from RMB 148.4 million in the same period last year [1] - Paid service revenue surged by 161.6% year-over-year to RMB 41.6 million (approximately USD 5.8 million) from RMB 15.9 million in Q3 2024 [1] Financial Performance - Gross profit for Q3 2025 increased by 53.6% to RMB 95.7 million (approximately USD 13.4 million), with a gross margin of 47.6%, up from 37.9% in Q3 2024 [2] - The improvement in gross margin was attributed to higher margins from digital reading services generated through mini-programs and significant revenue growth in this area [2] - The net loss attributable to Phoenix New Media narrowed to RMB 4.9 million (approximately USD 700,000) in Q3 2025, compared to a net loss of RMB 18.5 million in Q3 2024 [2] Future Outlook - The company expects total revenue for Q4 2025 to be between RMB 205.9 million and RMB 220.9 million [2] - Projected advertising net revenue for Q4 2025 is anticipated to be between RMB 171.4 million and RMB 181.4 million [2] - Expected paid service revenue for Q4 2025 is forecasted to range from RMB 34.5 million to RMB 39.5 million [2]

Core Viewpoint - Phoenix New Media reported a total revenue of RMB 200.9 million (approximately USD 28.2 million) for Q3 2025, representing a 22.3% increase compared to RMB 164.3 million in Q3 2024, driven by growth in paid services and advertising revenue [1][2][3] Financial Performance - Total revenue for Q3 2025 was RMB 200.9 million (approximately USD 28.2 million), up 22.3% from RMB 164.3 million in Q3 2024, primarily due to increases in paid services and advertising revenue [2][3] - Advertising net revenue reached RMB 159.3 million (approximately USD 22.4 million), a 7.3% increase from RMB 148.4 million in Q3 2024 [1][2] - Paid services revenue was RMB 41.6 million (approximately USD 5.8 million), a significant increase of 161.6% from RMB 15.9 million in Q3 2024, with paid content revenue contributing RMB 38.3 million (approximately USD 5.3 million), up 279.2% year-over-year [3] Cost and Profitability - Total costs for Q3 2025 were RMB 105.2 million (approximately USD 14.8 million), a 3.1% increase from RMB 102 million in Q3 2024 [4] - Gross profit increased by 53.6% to RMB 95.7 million (approximately USD 13.4 million), with a gross margin of 47.6%, up from 37.9% in Q3 2024 [4] Operating Expenses and Losses - Total operating expenses for Q3 2025 were RMB 109 million (approximately USD 15.3 million), a 23.6% increase from RMB 88.2 million in Q3 2024, mainly due to higher sales and marketing expenses related to digital reading services [6] - Operating loss for Q3 2025 was RMB 13.3 million (approximately USD 1.9 million), improved from a loss of RMB 25.9 million in Q3 2024, with an operating margin of -6.6% compared to -15.8% in the previous year [6] Other Income and Losses - Other net income for Q3 2025 totaled RMB 16.3 million (approximately USD 2.3 million), compared to RMB 6.9 million in Q3 2024, including net interest income and gains from equity investments [7] Net Loss - The net loss attributable to Phoenix New Media for Q3 2025 was RMB 4.9 million (approximately USD 0.7 million), significantly reduced from RMB 18.5 million in Q3 2024, with a net margin of -2.4% compared to -11.3% in the previous year [8][9] Balance Sheet - As of September 30, 2025, the company had cash and cash equivalents, time deposits, short-term investments, and restricted funds totaling RMB 1 billion (approximately USD 140.5 million) [10] Performance Outlook - The company expects total revenue for Q4 2025 to be between RMB 205.9 million and RMB 220.9 million, with advertising net revenue projected between RMB 171.4 million and RMB 181.4 million, and paid services revenue expected to be between RMB 34.5 million and RMB 39.5 million [11]

（於開曼群島註冊成立之有限公司） (股份代號：02008) 海外監管公告 上市附屬公司–鳳凰新媒體有限公司 2025 年第三季度之未經審核財務業績公佈 本公告乃由鳳凰衛視投資(控股)有限公司(「本公司」)根據香港聯合交易所有限公司 證劵上市規則第13.10B條而作出。 本公司非全資附屬公司鳳凰新媒體有限公司(「鳳凰新媒體」)(其股份以美國預託股 份之形式於美國紐約證券交易所上市)已於2025年11月13日就鳳凰新媒體2025年第 三季度的未經審核財務業績(「業績」)，向美國證券及交易局(the United States Securities and Exchange Commission)提交6-K表格。詳情請參閱隨附的業績。 香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責 ， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明 ， 並 明 確 表 示 概 不 就 因 本 公 告 全 部 或 任 何 部 份 內 容 而 產 生 或 因 倚 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 ...