Welcome to our dedicated page for Phoenix New Media American Depositary Shares (each representing forty-eight (48) news (Ticker: FENG), a resource for investors and traders seeking the latest updates and insights on Phoenix New Media American Depositary Shares (each representing forty-eight (48) stock.
Phoenix New Media Limited (NYSE: FENG) is a leading cross-platform new media company in China. The company integrates its comprehensive portal ifeng.com, mobile website (3g.ifeng.com), mobile applications, and Phoenix Video (v.ifeng.com) to provide seamless high-quality content and services across the Internet, mobile channels, and TV. Adhering to the media philosophy of 'Chinese sentiment, global vision, inclusiveness and openness, and progressive strength', Phoenix New Media caters to mainstream Chinese users with a wide range of premium content and services.
Phoenix New Media is not only a robust distribution channel for Phoenix TV Media Group's premium television content but also integrates content from various professional media organizations, user-generated content, and self-produced content. The company offers a comprehensive array of news information, in-depth reports, commentary, financial products, interactive applications, social sharing communities, online web games, and more, satisfying the diverse and personalized needs of users for browsing, expression, communication, sharing, entertainment, and financial management. This unique combination forms an innovative multi-platform communication model that extends to Phoenix TV's television platform.
With daily page views of 789 million and a daily user coverage (UV) of approximately 46 million, Phoenix New Media also reaches nearly 300 million monthly users. Its mobile site and applications have a cumulative daily coverage of 27.5 million mobile users. According to an iResearch report in 2013, Phoenix New Media's users rank highest in terms of monthly income, household economic status, education level, the proportion of management and professional personnel, pages viewed per user, and average daily effective browsing time among Chinese internet portal websites.
Phoenix New Media's core strength lies in its precise audience targeting, content insight, platform integration, and brand influence, providing advertisers with efficient marketing ROI (4i for ROI). The company continues to lead the synergistic transmission of internet, mobile internet, and television, driving innovation in media for the 3G/4G era.
On September 27, 2023, Phoenix New Media announced a new share repurchase program approved by its board of directors. The program allows the repurchase of up to US$2 million worth of its outstanding American depositary shares (ADSs) over five months. The repurchases will be funded from the company's existing cash balance and can be executed in open market transactions, privately negotiated transactions, block trades, or any combination of these methods, in compliance with relevant U.S. securities laws and the company's trading policy.
Phoenix New Media Ltd generates most of its revenue from net advertising services and paid services, including mobile value-added services, games, and content sales.
Phoenix New Media (NYSE: FENG) reported a 19.3% decline in total revenues for Q3 2021, totaling RMB244.6 million (US$38.0 million), primarily due to a 23.0% drop in net advertising revenue. Despite challenges, the company increased paid services revenue by 29.0% to RMB28.0 million (US$4.4 million) and saw a 69.7% surge in paid content revenue, driven by audio book licensing. Operating expenses surged 63.3% to RMB296.2 million (US$46.0 million), leading to a net loss of RMB134.0 million (US$20.8 million) compared to a loss of RMB0.9 million in Q3 2020.
Phoenix New Media Limited (NYSE: FENG) announced its plan to release third quarter 2021 financial results on November 15, 2021, after market close. A conference call will follow at 8:00 p.m. ET to discuss the results and operating performance. Participants must preregister online to receive dial-in details due to COVID-19 restrictions. A replay will be available until November 23, 2021.
For more information, visit their investor relations website.
Phoenix New Media Limited (NYSE: FENG) announced a new program resource license agreement with its parent company, Phoenix Satellite Television Holdings Limited, effective from August 24, 2021. The agreement grants Phoenix New Media exclusive rights to broadcast video content from three Phoenix TV channels in Mainland China for a fee of RMB45 million annually over three years. This replaces a previous agreement dated January 15, 2020, solidifying its digital content access strategy in a competitive media landscape.
Phoenix New Media (NYSE: FENG) reported a 17.8% decline in total revenues to RMB256.7 million ($39.8 million) for Q2 2021, impacted by a 18.6% drop in net advertising revenues. However, revenues increased 13.5% sequentially from Q1 2021. Gross profit fell 36.2% to RMB119.7 million, with a gross margin decline to 46.6%. The company reported a loss from operations of RMB34.8 million, compared to a profit last year. Looking ahead, FENG expects Q3 revenues between RMB257.9 million and RMB282.9 million as it navigates ongoing market challenges.
Phoenix New Media Limited (NYSE: FENG) held its 2021 annual general meeting of shareholders on August 12, 2021. All proposed resolutions were passed, including the election of Mr. Yusheng Sun as a director following Mr. Keung Chui's retirement. The company expressed gratitude to its shareholders for their continued support. Phoenix New Media is a leading new media company in China, providing premium content through its integrated internet platform across PC and mobile channels.
Phoenix New Media Limited (NYSE: FENG) will report its Q2 2021 financial results on August 16, 2021, after market close. A conference call will follow at 9:00 p.m. ET the same day. Participants need to preregister for dial-in numbers. The call will be available live and archived on the company's investor relations website. Phoenix New Media is a leading new media company in China, providing integrated content across various platforms, enabling users to access quality news and user-generated content.
Phoenix New Media Limited (NYSE: FENG) will hold its annual general meeting on August 12, 2021, at 2:00 p.m. in Beijing. Shareholders recorded as of July 12, 2021, can vote. The Board proposes the election of Yusheng Sun as a director and the chairman, succeeding Keung Chui. Mr. Sun brings over 30 years of experience from China Central Television and is well-respected in the media industry. The notice of the meeting, including details on resolutions for approval, is available on the Company’s website.
Phoenix New Media (FENG) reported a 2.3% decline in total revenues to RMB226.1 million (US$34.5 million) for Q1 2021, primarily driven by a 3.5% drop in net advertising revenues. Paid services revenues saw a 9.3% increase, partially offsetting the advertising decline. Gross profit decreased by 6.4% with a gross margin of 52.2%. Operating losses narrowed to RMB41.9 million (US$6.4 million), improving the operating margin to negative 18.6%. The company anticipates Q2 2021 revenues between RMB263.8 million and RMB283.8 million.
Phoenix New Media Limited (NYSE: FENG) is set to report its first quarter 2021 financial results on May 10, 2021, after market close. The earnings report will be accessible on the company's investor relations website. Additionally, a conference call is scheduled for the same day at 9:00 p.m. ET to discuss the financial outcomes and operational performance. Due to COVID-19, participants must preregister online to receive dial-in details. A replay of the call will be available until May 19, 2021, with various access numbers provided for different regions.
Phoenix New Media Limited (NYSE: FENG) announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2020, with the SEC on April 28, 2021. The report provides detailed audited consolidated financial statements and is available for shareholders upon request. The company operates a leading integrated Internet platform in China, offering premium content and user-generated information via its PC and mobile channels.
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