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Consolidated Statements of Comprehensive Income/ (Loss) - CNY (¥)
¥ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Total revenues [1] ¥ 785,707 ¥ 1,030,331 ¥ 1,208,845
Cost of revenues [1] (548,505) (597,397) (559,286)
Gross profit 237,202 432,934 649,559
Operating expenses :      
Sales and marketing expenses [1] (204,984) (276,254) (279,429)
General and administrative expenses [1] (91,846) (334,189) (277,931)
Technology and product development expenses [1] (131,807) (158,586) (171,989)
Impairment of goodwill [1]     (22,786)
Total operating expenses [1] (428,637) (769,029) (752,135)
Loss from operations (191,435) (336,095) (102,576)
Other income/(loss):      
Net interest income/(expense) 31,411 47,304 35,421
Foreign currency exchange gain/(loss) (32,872) 8,612 5,494
(Income)/loss from equity method investments, net of impairment (8,195) 401 5,598
Fair value changes in investments, net 2,664 1,906  
Impairment of available-for-sale debt investments (5,980)   (2,000)
Gain on disposal of available-for-sale debt investments [2]     573,860
Changes in fair value of loan related to co-sale of Particle shares     (24,535)
Changes in fair value of forward contract in relation to disposal of investments in Particle     16,085
Others, net 8,294 25,387 35,881
Income/(loss) before tax from continuing operations [2] (196,113) (252,485) 543,228
Income tax (expense)/benefit [2] 70,394 (20,581) (115,583)
Net income/(loss) from continuing operations (125,719) (273,066) 427,645
Net loss from discontinued operations, net of income taxes     (62,366)
Net income/(loss) (125,719) (273,066) 365,279
Net (income)/loss from continuing operations attributable to noncontrolling interests 16,067 67,365 (9,669)
Net loss from discontinued operations attributable to noncontrolling interests     24,759
Net loss attributable to noncontrolling interests 16,067 67,365 15,090
Net income/(loss) from continuing operations attributable to Phoenix New Media Limited (109,652) (205,701) 417,976
Net loss from discontinued operations attributable to Phoenix New Media Limited     (37,607)
Net income/(loss) attributable to Phoenix New Media Limited (109,652) (205,701) 380,369
Net income/(loss) (125,719) (273,066) 365,279
Other comprehensive loss (net of tax of RMB(98,456), nil and nil for the years ended December 31, 2020, 2021 and 2022, respectively): fair value remeasurement for available-for-sale debt investments (24,010) (6,611) (887,248)
Other comprehensive loss (net of tax of RMB96,606, nil and nil for the years ended December 31, 2020, 2021 and 2022, respectively): reclassification adjustment for disposal of available-for-sale debt investments     (491,197)
Other comprehensive (loss)/income (net of nil tax for all years): foreign currency translation adjustment 17,916 (4,483) (55,577)
Comprehensive loss (131,813) (284,160) (1,068,743)
Comprehensive loss attributable to noncontrolling interests 16,067 67,365 15,090
Comprehensive loss attributable to Phoenix New Media Limited (115,746) (216,795) (1,053,653)
Net income/(loss) attributable to Phoenix New Media Limited ¥ (109,652) ¥ (205,701) ¥ 380,369
Ordinary Shares      
Basic net income/(loss) per share:      
-Continuing operations ¥ (0.19) ¥ (0.35) ¥ 0.72
-Discontinued operations     (0.07)
Basic net income/(loss) per share (0.19) (0.35) 0.65
Diluted net income/(loss) per share:      
-Continuing operations (0.19) (0.35) 0.72
-Discontinued operations     (0.07)
Diluted net income/(loss) per share ¥ (0.19) ¥ (0.35) ¥ 0.65
Weighted average number of Class A and Class B ordinary shares used in computing net income/(loss) per share:      
Basic 582,324,325 582,324,325 582,324,325
Diluted 582,324,325 582,324,325 582,324,325
ADS      
Basic net income/(loss) per share:      
-Continuing operations ¥ (9.04) ¥ (16.80) ¥ 34.56
-Discontinued operations     (3.36)
Basic net income/(loss) per share (9.04) (16.80) 31.20
Diluted net income/(loss) per share:      
-Continuing operations (9.04) (16.80) 34.56
-Discontinued operations     (3.36)
Diluted net income/(loss) per share ¥ (9.04) ¥ (16.80) ¥ 31.20
Net advertising services      
Revenues:      
Total revenues [1] ¥ 696,664 ¥ 930,025 ¥ 1,113,017
Cost of revenues (514,725) (566,443) (523,813)
Gross profit 181,939 363,582 589,204
Paid services      
Revenues:      
Total revenues [1] 89,043 100,306 95,828
Cost of revenues (33,780) (30,954) (35,473)
Gross profit ¥ 55,263 ¥ 69,352 ¥ 60,355
[1] Transactions with related parties included in revenues, cost of revenues and operating expenses are as follows (Note 21):
[2] The gain on disposal of available-for-sale debt investments, income before tax from continuing operations and the income tax expense for the year ended December 31, 2020 have been restated. Refer to Note 2(b) for further information.