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Phoenix New Media Limited (FENG)
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Phoenix New Media Limited Balance Sheet 2025-2008 | FENG
Brief balance sheet overview of Phoenix New Media Limited
Balance sheet changes are traced across five available annual reports between 2020 and 2025.
Assets declined from 2.8 billion CNY to 1.6 billion CNY, or -40.5%. The contraction calls for context such as disposals, restructuring or weaker operations.
Assets outpaced liabilities, -40.5% versus -51.2%. Dependence on external funding declined.
The equity-to-assets ratio is 71%, compared with 59% five periods ago. The balance sheet has a substantial internal cushion.
Cash exceeds interest-bearing debt, producing net debt of -494.2 million CNY. The balance sheet therefore carries a net cash position.
The cash share moved from 12.9% to 32.6%. A higher figure generally provides more room in an adverse scenario.
Retained earnings are negative at -567.5 million CNY. This reduces the formal capital cushion, although large shareholder returns may have contributed.
Overall picture
Phoenix New Media Limited's financial position is positive on balance sheet evidence. Growth in resources has not undermined capital strength.
Annual Balance Sheet Phoenix New Media Limited
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-494 M | -551 M | -458 M | 8.6 M | - | -305 M | -251 M | 93.6 M | -32.9 M | 156 M | -180 M | -1.29 B | -1.31 B | -916 M | -397 M | - | - | - |
Long Term Debt |
29.2 M | 45.7 M | 49.5 M | 80.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Long Term Debt Current |
14.1 M | 11 M | 19.9 M | 23.6 M | - | 36.4 M | 40.3 M | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
43.2 M | 61.2 M | 68.1 M | 101 M | - | 46.2 M | 275 M | 167 M | 26 M | 23 M | 19.7 M | 18.2 M | 12.2 M | 8 M | 5.5 M | 3.48 M | - | - |
Total Current Liabilities |
498 M | 537 M | 527 M | 664 M | - | 1.06 B | 1.51 B | 1.07 B | 1.07 B | 983 M | 743 M | 592 M | 469 M | 307 M | 252 M | 149 M | - | - |
Total Liabilities |
541 M | 599 M | 595 M | 766 M | - | 1.11 B | 1.78 B | 1.24 B | 1.1 B | 1.01 B | 763 M | 610 M | 482 M | 315 M | 258 M | 152 M | - | - |
Deferred Revenue |
26.2 M | 29.1 M | 34.2 M | 31.9 M | - | 38.8 M | 510 M | 68.4 M | 79.5 M | 48.5 M | 29.3 M | 42.8 M | 25.6 M | 17 M | 7.19 M | - | - | - |
Retained Earnings |
-567 M | -567 M | -513 M | -411 M | - | -88.2 M | 186 M | 160 M | 229 M | 195 M | 122 M | 52.9 M | -195 M | -456 M | -556 M | -129 M | - | - |
Total Assets |
1.65 B | 1.71 B | 1.76 B | 2.03 B | - | 2.77 B | 5.33 B | 4.63 B | 3.6 B | 3.17 B | 2.57 B | 2.33 B | 2.06 B | 1.68 B | 1.56 B | 447 M | - | - |
Cash and Cash Equivalents |
538 M | 608 M | 527 M | 96 M | - | 358 M | 311 M | 161 M | 363 M | 203 M | 311 M | 1.29 B | 845 M | 916 M | 397 M | 287 M | 223 M | 68 M |
Book Value |
1.11 B | 1.11 B | 1.16 B | 1.27 B | - | 1.66 B | 3.55 B | 3.39 B | 2.5 B | 2.16 B | 1.8 B | 1.72 B | 1.58 B | 1.37 B | 1.31 B | 295 M | - | - |
Total Shareholders Equity |
1.17 B | 1.18 B | 1.23 B | 1.32 B | - | 1.64 B | 3.33 B | 3.08 B | 2.51 B | 2.17 B | 1.81 B | 1.72 B | 1.57 B | 1.37 B | 1.31 B | -95 M | 13.6 M | 16.3 M |
Annual performance
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All numbers in CNY currency
Quarterly Balance Sheet Phoenix New Media Limited
| 2025-Q4 | 2024-Q4 | 2023-Q4 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | 2010-Q4 | 2009-Q4 | 2008-Q4 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
29.2 M | 45.7 M | 49.5 M | - | - | - | - | 20.1 M | - | - | - | 16.7 M | - | - | - | 49.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
43.2 M | 61.2 M | 68.1 M | - | - | - | - | 49.7 M | - | - | - | 46.2 M | - | - | - | 275 M | - | - | - | 167 M | - | - | - | 26 M | - | - | - | 23 M | - | - | - | 19.7 M | - | - | - | 18.2 M | - | - | - | 12.2 M | - | - | - | 8 M | - | - | - | 5.5 M | - | - | - | 3.48 M | - | - |
Total Liabilities |
541 M | 599 M | 595 M | - | - | - | - | 1.02 B | - | - | - | 1.11 B | - | - | - | 1.78 B | - | - | - | 1.24 B | - | - | - | 1.1 B | - | - | - | 1.01 B | - | - | - | 763 M | - | - | - | 610 M | - | - | - | 482 M | - | - | - | 315 M | - | - | - | 258 M | - | - | - | 152 M | - | - |
Deferred Revenue |
26.2 M | 29.1 M | 34.2 M | - | - | - | - | 33.5 M | - | - | - | 38.8 M | - | - | - | 46.2 M | - | - | - | 54.6 M | - | - | - | 65.2 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-567 M | -567 M | -513 M | - | - | - | - | -300 M | - | - | - | -88.2 M | - | - | - | 186 M | - | - | - | 160 M | - | - | - | 229 M | - | - | - | 195 M | - | - | - | 122 M | - | - | - | 52.9 M | - | - | - | -195 M | - | - | - | -456 M | - | - | - | -556 M | - | - | - | -129 M | - | - |
Total Assets |
1.65 B | 1.71 B | 1.76 B | - | - | - | - | 2.41 B | - | - | - | 2.77 B | - | - | - | 5.33 B | - | - | - | 4.63 B | - | - | - | 3.6 B | - | - | - | 3.17 B | - | - | - | 2.57 B | - | - | - | 2.33 B | - | - | - | 2.06 B | - | - | - | 1.68 B | - | - | - | 1.56 B | - | - | - | 447 M | - | - |
Cash and Cash Equivalents |
538 M | 608 M | 527 M | - | - | - | - | 189 M | - | - | - | 358 M | - | - | - | 311 M | - | - | - | 161 M | - | - | - | 363 M | - | - | - | 203 M | - | - | - | 311 M | - | - | - | 1.29 B | - | - | - | 845 M | - | - | - | 916 M | - | - | - | 397 M | - | - | - | 287 M | 223 M | 68 M |
Book Value |
1.11 B | 1.11 B | 1.16 B | - | - | - | - | 1.39 B | - | - | - | 1.66 B | - | - | - | 3.55 B | - | - | - | 3.39 B | - | - | - | 2.5 B | - | - | - | 2.16 B | - | - | - | 1.8 B | - | - | - | 1.72 B | - | - | - | 1.58 B | - | - | - | 1.37 B | - | - | - | 1.31 B | - | - | - | 295 M | - | - |
Total Shareholders Equity |
1.17 B | 1.18 B | 1.23 B | - | - | - | - | 1.43 B | - | - | - | 1.64 B | - | - | - | 3.33 B | - | - | - | 3.08 B | - | - | - | 2.51 B | - | - | - | 2.17 B | - | - | - | 1.81 B | - | - | - | 1.72 B | - | - | - | 1.57 B | - | - | - | 1.37 B | - | - | - | 1.31 B | - | - | - | -95 M | 13.6 M | 16.3 M |
Quarterly performance
Select metrics to display
All numbers in CNY currency
Balance Sheet is a fundamental financial report of Phoenix New Media Limited, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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