Financial Data and Key Metrics Changes - Total revenues for Q2 2023 were RMB180.2 million, a decrease from RMB191.6 million in the same period last year [17] - Net advertising revenues increased to RMB161.8 million compared to RMB160.5 million in the same period last year [17] - Paid services revenues were RMB18.4 million, down from RMB31.1 million in the same period last year, primarily due to reduced content spending by certain customers and a decline in e-commerce revenues [17] - Loss from operations was RMB35.7 million, narrowing by 62.4% year-over-year due to increased gross profit and decreased operating expenses [17] - Net loss attributable to the company was RMB31.3 million, narrowing by 67.3% year-over-year [17] - As of June 30, 2023, cash and cash equivalents, term deposits, short-term investments, and restricted cash totaled RMB1.08 billion (approximately US$149 million) [17] Business Line Data and Key Metrics Changes - The company focused on enhancing media influence by covering major events, resulting in significant viewership for related video content, which achieved 77 million views [7] - The company organized live broadcasts during significant events, such as the Wagner rebellion, which reached nearly 14 million viewers across all platforms [8] - The introduction of AI-generated content and interactive features on the flagship app led to a 5% increase in logged-in users quarter-over-quarter and a 12% increase in overall click-through rates [14][15] Market Data and Key Metrics Changes - The Chinese advertising market showed a moderate recovery trend in Q2 2023, although challenges remain as advertisers are cautious with their marketing budgets [21] - The company identified growth areas in new product development and promotions, particularly in sectors like automobiles and electronics [22] Company Strategy and Development Direction - The company aims to deepen coverage of breaking news and major events while focusing on differentiation in content dissemination [6] - There is a strategic emphasis on enhancing marketing resources and capabilities to boost advertising revenue [23] - The company plans to align resources to strategic business units to solidify its position in the media industry [16] Management's Comments on Operating Environment and Future Outlook - Management noted that while the advertising market is recovering, it still faces challenges, and advertisers are cautious [21] - The company is focusing on profitability and maintaining a steady revenue stream by directing resources towards critical parts of the business [25] - The forecast for Q3 2023 anticipates total revenues between RMB158.5 million and RMB178.5 million, with net advertising revenues expected between RMB148.7 million and RMB163.7 million [18] Other Important Information - The company has strengthened its collaboration with Phoenix TV, enhancing integrated marketing resources [5] - The introduction of AI Vanguard, an original program utilizing AI for content generation, has shown promising results with 420,000 views [12][13] Q&A Session Summary Question: Review of the ad business during the first half of the year and outlook for the second half - Management indicated that ad revenue decreased in Q1 due to slow economic recovery but showed improvement in Q2, with a moderate recovery trend in the advertising market [21] - Identified growth areas include new product development and promotions, with a focus on enhancing marketing services for various industries [22] Question: Decline in paid services revenue and future plans for diversified business - Management emphasized the focus on profitability and maintaining a steady revenue stream, with a strategic direction towards core media operations [25] - The decline in paid services revenue was attributed to less profitable ventures, and the company plans to prioritize projects with better returns [25]

Revenue Performance - Total revenues for Q2 2023 decreased by 5.9% to RMB180.2 million (US$24.8 million) from RMB191.6 million in Q2 2022, primarily due to a decline in paid services revenues[3] - Net advertising revenues increased slightly to RMB161.8 million (US$22.3 million) in Q2 2023, compared to RMB160.5 million in the same period of 2022[3] - Paid services revenues decreased by 40.8% to RMB18.4 million (US$2.5 million) in Q2 2023 from RMB31.1 million in Q2 2022, with revenues from paid content down by 52.9%[4] - Total revenues for the three months ended June 30, 2023, were RMB 180,207, a decrease of 6.0% compared to RMB 191,639 for the same period in 2022[23] - Net advertising revenues for the three months ended June 30, 2023, were RMB 161,807, an increase of 0.8% from RMB 160,478 in the same period last year[23] - Paid service revenues for the three months ended June 30, 2023, were RMB 18,400, a decrease of 41.0% from RMB 31,161 in the same period last year[23] Profitability - Gross profit increased by 12.7% to RMB55.9 million (US$7.7 million) in Q2 2023, with a gross margin of 31.0%, up from 25.9% in Q2 2022[5] - Gross profit for the three months ended June 30, 2023, was RMB 55,937, representing a significant increase of 12.5% compared to RMB 49,636 for the same period in 2022[23] - The company reported a gross profit margin of 31.0% for the three months ended June 30, 2023, compared to 25.9% for the same period in 2022[25] - Net loss attributable to Phoenix New Media Limited was RMB31.3 million (US$4.3 million) in Q2 2023, compared to RMB95.8 million in Q2 2022, resulting in a net margin of negative 17.4%[9] - The net loss for the three months ended June 30, 2023, was RMB 31,662, a decrease of 50.0% compared to a net loss of RMB 104,794 for the same period in 2022[23] - Non-GAAP net loss attributable to Phoenix New Media Limited was RMB29.7 million (US$4.1 million) in Q2 2023, compared to RMB87.1 million in Q2 2022, with a non-GAAP net margin of negative 16.5%[10] Operating Expenses - Total operating expenses decreased by 36.6% to RMB91.6 million (US$12.6 million) in Q2 2023, leading to a narrowed loss from operations of RMB35.7 million (US$4.9 million)[7] - Operating expenses decreased to RMB 91,610 for the three months ended June 30, 2023, down from RMB 144,416 in the same period last year, reflecting a reduction of 36.5%[23] Cash and Assets - As of June 30, 2023, the Company had cash and cash equivalents totaling RMB1.08 billion (US$149.0 million)[12] - As of June 30, 2023, total assets decreased to RMB 1,823,078 from RMB 2,030,824 as of December 31, 2022, representing a decline of approximately 10.2%[21] - Current assets decreased to RMB 1,493,473 from RMB 1,661,651, a reduction of about 10.1%[21] - Cash and cash equivalents increased to RMB 145,798 from RMB 95,982, showing a growth of approximately 52%[21] - Total liabilities decreased to RMB 639,065 from RMB 765,601, a decline of about 16.5%[21] - Shareholders' equity decreased to RMB 1,184,013 from RMB 1,265,223, reflecting a decrease of approximately 6.4%[21] - The accumulated deficit increased from RMB (411,074) to RMB (499,988), indicating a worsening of approximately 21.5%[21] - Accounts receivable, net decreased to RMB 309,007 from RMB 428,587, a decline of about 28%[21] - Operating lease liabilities decreased to RMB 59,358 from RMB 80,947, a reduction of approximately 26.7%[21] - Non-current assets decreased to RMB 329,605 from RMB 369,173, a decline of about 10.7%[21] Future Outlook - For Q3 2023, the Company expects total revenues to be between RMB158.5 million and RMB178.5 million, with net advertising revenues projected between RMB148.7 million and RMB163.7 million[13] - The Company aims to enhance monetization efficiency and improve its bottom line while solidifying its leadership position in the media industry[2]

Financial Data and Key Metrics Changes - Total revenues for Q1 2023 were CNY 146.4 million, a decrease from CNY 175.4 million in the same period last year [16] - Net advertising revenues were CNY 126.2 million, down from CNY 158.4 million year-over-year, attributed to reduced advertising spending and intensified competition [17] - Paid services revenues increased to CNY 20.2 million from CNY 17 million year-over-year, driven by IP copyright sales [17] - Loss from operations narrowed by 30.3% year-over-year to CNY 74.4 million due to strict cost control measures [17] - Net loss attributable to the company was CNY 37.8 million, a 27.5% reduction year-over-year [17] - Cash and cash equivalents as of March 31, 2023, totaled approximately CNY 1.13 billion (USD 164.1 million) [18] Business Line Data and Key Metrics Changes - The online reading business line continued to partner with industry players, achieving significant milestones in Q1 [14] - The real estate business met internal revenue targets, benefiting from a rebound in the property market [15] - E-commerce business exceeded GMV targets in Q1, focusing on holiday gifts and seasonal demand [15] Market Data and Key Metrics Changes - The overall advertising market recovery was below expectations, with a year-over-year decline in January and February [21] - FMCG, cosmetics, and bathroom products are identified as key industries driving advertising spending [21] Company Strategy and Development Direction - The company aims to evolve into a world-class Chinese online media platform, focusing on content dissemination and profitability [5] - Emphasis on creating high-quality content while expanding revenue streams and exercising fiscal prudence [5][6] - Plans to innovate in operations, management, and talent acquisition to achieve development objectives [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledged numerous challenges in the industry and the need for analysis and breakthroughs [5] - The company is optimistic about future growth, focusing on operational and monetization efficiency [16] - Forecast for Q2 2023 total revenues is between CNY 160.9 million and CNY 180.9 million [18] Other Important Information - The company hosted significant forums and events, enhancing its media influence and attracting substantial viewership [11][12] - The introduction of a subscription feature in the ifeng app led to a 28% increase in app opening rates [14] Q&A Session Summary Question: Factors contributing to the decline in Q1 net revenues and outlook for the ad business - The overall advertising market recovery was below expectations, with cautious spending from advertisers [21] - FMCG and cosmetics industries are expected to drive future advertising growth [21][22] Question: Improvement in operating income and plans for further cost cuts - Significant cost optimization measures have been implemented, resulting in a 26.6% decrease in operating expenses [25] - Limited room for further significant cost cuts; focus will be on revenue growth and fine-tuning cost structures [26]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 May 2023 Commission File Number: 001-35158 l | --- | --- | |---------------------------------------------------------------------------------------------------------------------------------------------------------|--------| | | | | | | | | | | Sinolight Plaza, Floor 16 | | | No. 4 Qiyang Road Wangjing, Chaoyang District, Bei ...

Phoenix New Media Limited (NYSE:FENG) Q4 2022 Earnings Conference Call March 13, 2023 9:00 PM ET Company Participants Muzi Guo - IR Shuang Liu - CEO Edward Lu - CFO Conference Call Participants Xueru Zhang - 86Research Alice Tang - First Shanghai Operator Good day, and thank you for standing by. Welcome to Phoenix New Media Fourth Quarter 2022 Earnings Conference Call. At this time all participants are in a listen-only mode. After the speaker presentation there’ll be a question-and-answer session [Operator ...

Phoenix New Media Limited (NYSE:FENG) Q3 2022 Earnings Conference Call November 14, 2022 8:00 PM ET Company Participants Muzi Guo - Investor Relations Shuang Liu - Chief Executive Officer Edward Lu - Chief Financial Officer Conference Call Participants Xueru Zhang - 86Research Alice Tang - First Shanghai Operator Good day, and thank you for standing by. Welcome to Phoenix New Media Third Quarter 2022 Earnings Call. At this time, all participants are in a listen-only mode. After the speaker’s presentation, t ...

Phoenix New Media Ltd (NYSE:FENG) Q2 2022 Earnings Conference Call August 15, 2022 9:00 PM ET Company Participants Edward Lu - CFO Shuang Liu - CEO & Director Muzi Guo - IR Conference Call Participants Alice Tang - First Shanghai Xueru Zhang - 86 Research Operator Thank you all for standing by, and welcome to the Phoenix New Media Second Quarter 2022 Earnings Call. [Operator Instructions]. And I'd now like to hand the conference over to your speaker, Muzi Guo from Investor Relations. Thank you, please go ah ...

Phoenix New Media Ltd Brands, Inc. (NYSE:FENG) Q1 2022 Earnings Conference Call May 9, 2022 9:00 PM ET Company Participants Muzi Guo - Director of Finance Shuang Liu - CEO Edward Lu - CFO Conference Call Participants Xueru Zhang - 86Research Alice Tang - First Shanghai Operator Good day, and thank you for standing by. Welcome to Phoenix New Media First Quarter 2022 Earnings Call. [Operator Instructions]. I would now like to hand the conference over to your host today, Ms. Muzi Guo from IR team. Thank you. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For ...