Phoenix New Media Ltd - FENG STOCK NEWS

On March 26, 2023, Phoenix New Media Limited (NYSE: FENG) announced a leadership change, with Yusheng Sun succeeding Shuang Liu as CEO effective March 25, 2023. Liu resigned for personal reasons, and the board expressed gratitude for his contributions to the company. Phoenix New Media is a prominent new media firm in China, providing high-quality content through its integrated Internet platform, including mobile and PC channels. The company's operations span various digital services, aiming to enhance user engagement and content accessibility in the Chinese market.

Hello Group Inc. (NASDAQ: MOMO) reported its Q4 2022 results, showing a 12.6% decline in net revenues to RMB3,212.7 million (US$465.8 million). However, net income surged to RMB398.0 million (US$57.7 million), compared to a net loss of RMB4,242.7 million in Q4 2021. Non-GAAP net income also rose to RMB487.9 million (US$70.7 million). Full-year revenues fell 12.8% to RMB12,704.2 million (US$1,841.9 million). The company expects Q1 2023 revenues to drop 15.8% to 12.6% year-over-year. A special cash dividend of US$0.72 per ADS will be paid on May 22, 2023. Key metrics showed a decrease in active users and paying users across platforms.

Phoenix New Media Limited (NYSE: FENG) announced a change in its American Depositary Shares (ADS) ratio, shifting from 1 ADS for 8 Class A ordinary shares to 1 ADS for 48 Class A ordinary shares, effective around May 21, 2022. This adjustment effectively acts as a one-for-six reverse ADS split. Current ADS holders will need to exchange six existing ADSs for one new ADS, with any fractional entitlements aggregated and sold. The company anticipates a proportional increase in ADS trading price post-ratio change but offers no guarantees of future performance.

Phoenix New Media (NYSE: FENG) reported a 22.4% decline in total revenues for Q1 2022, totaling RMB175.4 million (US$27.7 million), primarily attributed to a 21.3% drop in net advertising revenues. The gross profit also saw a severe decrease of 71.9%, resulting in a gross margin of 18.9%. A net loss of RMB79.7 million (US$12.6 million) was reported, worsening from RMB29.2 million year-over-year. Despite these challenges, the company aims for revenue growth in Q2 2022, projecting between RMB198.6 million and RMB218.6 million.

Phoenix New Media Limited (NYSE: FENG) will report its first quarter 2022 financial results on May 9, 2022, after market close. A conference call is scheduled for the same day at 9:00 PM ET to discuss these results and overall operating performance. Due to COVID-19, pre-registration is required for participation. After the call, a replay will be available until May 17, 2022. The Company provides premium content across PC and mobile platforms in China, including news and user-generated content.

On April 28, 2022, Phoenix New Media Limited (NYSE: FENG) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2021, with the SEC. The report is accessible on the Company's investor relations website. Shareholders can request a hard copy of the audited consolidated financial statements free of charge. Phoenix New Media is a leading media company in China, offering premium content through its integrated Internet platform, including news services on both PC and mobile.

Phoenix New Media (NYSE: FENG) reported a Q4 2021 revenue of RMB302.9 million, down 16.4% year-over-year, attributed mainly to a 17.1% decline in net advertising revenues. The company's net loss for Q4 reached RMB35.4 million, compared to a profit in the prior year. For the full year, revenue fell 14.8% to RMB1.03 billion, with net loss from continuing operations at RMB205.7 million. Looking ahead, the company anticipates Q1 2022 revenues between RMB172.0 million and RMB197.0 million, with challenges expected due to ongoing COVID impacts.

Phoenix New Media Limited (NYSE: FENG) will report its fourth quarter and fiscal year 2021 financial results on March 14, 2022, after the market closes. The earnings release will be accessible on the company's investor relations website. Following the announcement, a conference call will be held on the same day at 9:00 p.m. Eastern Time to discuss the results and operational performance. Participants must preregister online to receive dial-in information. A replay will be available until March 22, 2022.

Phoenix New Media Limited (NYSE: FENG) announced it received a notice from the NYSE on January 5, 2022, for failing to meet the price criteria for continued listing. As of January 4, 2022, the average closing price of its American Depositary Shares (ADSs) was below US$1.00 for 30 consecutive trading days. The company has six months to regain compliance with the minimum share price requirement. During this 'Cure Period', the ADSs will continue to be listed on the NYSE. This issue does not affect the company's business operations or contractual obligations.