Organization and Principal Activities (Tables)

12 Months Ended

Dec. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Schedule of major subsidiaries, VIEs and subsidiaries of VIEs

Major subsidiaries, VIEs and the subsidiaries of the VIEs as of December 31, 2021 are set out below:

			Percentage
			of Direct or
			Indirect
	Place of	Date of	Economic			Principal
Name	Incorporation	Incorporation	Ownership			Activity
Direct subsidiaries:
Phoenix Satellite Television Information Limited	British Virgin Islands (“BVI”)	September 1, 1999		100	%	Investment holding
Phoenix New Media (Hong Kong) Company Limited	Hong Kong	February 24, 2011		100	%	Advertising
Phoenix New Media (Hong Kong) Information Technology Company Limited	Hong Kong	April 22, 2014		100	%	Investment holding
Fread Limited	Cayman Island	May 20, 2014		100	%	Investment holding
Indirect subsidiaries:
Fenghuang On-line (Beijing) Information Technology Co., Ltd. (“Fenghuang On-line”)	PRC	December 20, 2005		100	%	Technical consulting
Beijing Fenghuang Yutian Software Technology Co., Ltd. (“Fenghuang Yutian”)	PRC	June 15, 2012		100	%	Software development
Fenghuang Feiyang (Beijing) New Media Information Technology Co., Ltd. (“Fenghuang Feiyang”)	PRC	October 25, 2013		100	%	Advertising
I Game (Hong Kong) Company Limited	Hong Kong	June 10, 2014		100	%	Paid services
Beijing Fenghuang Borui Software Technology Co., Ltd. (“Fenghuang Borui”)	PRC	October 13, 2014		100	%	Software development
Qieyiyou (Beijing) Information Technology Co., Ltd. (“Qieyiyou”)	PRC	November 28, 2014		100	%	Paid services
Tianjin Fengying Hongda Culture Communication Co., Ltd. (“Fengying Hongda”)	PRC	March 13, 2017		100	%	Advertising
VIEs:
Beijing Tianying Jiuzhou Network Technology Co., Ltd. (“Tianying Jiuzhou”)	PRC	April 18, 2000		100	%	Advertising and paid services
Beijing Fenghuang Ronghe Investment Co., Ltd. (“Fenghuang Ronghe”)	PRC	September 18, 2015		100	%	Investment holding
Beijing Chenhuan Technology Co., Ltd. (“Chenhuan”)	PRC	June 10, 2014		100	%	Paid services
Subsidiaries of VIEs:
Beijing Tianying Chuangzhi Advertising Co., Ltd. (“Tianying Chuangzhi”)	PRC	February 8, 2010		100	%	Advertising
Beijing Fengyu Network Technology Co., Ltd. (“Fengyu Network”)	PRC	June 1, 2012		100	%	Paid services
Yifeng Lianhe (Beijing) Technology Co., Ltd. (“Yifeng Lianhe”)	PRC	June 16, 2006		100	%	Paid services
Beijing Fenghuang Tianbo Network Technology Co., Ltd. (“Tianbo”)	PRC	May 31, 2013		50	%	Advertising

Schedule of summarized assets, liabilities, results of operations and cash flows of the consolidated VIEs

The following tables set forth the summarized assets, liabilities, results of operations and cash flows from continuing operations of the consolidated VIEs (in thousands):

	As of December 31,
		2020		2021
	RMB		RMB
Cash and cash equivalents		96,422		41,856
Term deposits and short term investments		240,388		126,172
Accounts receivable, net		325,741		178,439
Amounts due from inter-company entities		31,900		104,215
Other current assets		75,275		80,014
Current assets		769,726		530,696
Equity investments, net		81,821		98,128
Deferred income tax assets, net		45,147		48,192
Operating lease right-of-use assets, net		20,642		18,520
Other non-current assets		28,521		24,860
Non-current assets		176,131		189,700
Total assets		945,857		720,396
Accounts payable		72,696		63,685
Amounts due to related parties		23,124		26,035
Amounts due to inter-company entities		577,512		673,246
Advances from customers		135,080		18,633
Taxes payable		81,180		88,212
Salary and welfare payable		59,943		61,082
Accrued expenses and other current liabilities		121,366		87,914
Current liabilities		1,070,901		1,018,807
Non-current liabilities		43,190		32,169
Total liabilities		1,114,091		1,050,976

	For the Years Ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
Revenues (1)		685,116			521,414			487,323
Net loss from continuing operations (2)		(231,365	)		(52,834	)		(153,574	)
Net income/(loss) from discontinued operation		54,242			(62,366	)		—

Notes:

(1)

For the years ended December 31, 2019, 2020 and 2021, the VIEs have incurred revenues of RMB43.4 million, RMB11.0 million and RMB27.0 million, respectively, derived from inter-company entities and the corresponding inter-company entities concurrently recognized same amounts as fees, which have been eliminated upon consolidation.

(2)

For the years ended December 31, 2019, 2020 and 2021, the VIEs have incurred costs of RMB43.3 million, RMB17.4 million and RMB16.8 million, respectively, related to technical services provided by the inter-company entities and the corresponding inter-company entities concurrently recognized same amounts as revenues, which have been eliminated upon consolidation.

1. Organization and Principal Activities (Continued)

Revision of Previously Reported VIE Information

Certain information in the preceding table previously presented for the year ended December 31, 2020 in the 2020 Form 20-F has been revised. The amount previously reported as “net loss” of the VIEs for 2020 was the “net loss from continuing operations”, and the correct amount of “net loss from discontinued operations” is also added in but was not included in the table in prior year. It has been corrected by fully presenting the appropriate amounts in the preceding table. Previously reported net loss information for 2019 has been revised to conform to the current year presentation. There was no impact on any other reported information.

	For the Years Ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
Cash flow from operating activities：
Net cash provided by/(used in) transactions with inter-company entities		72,975			55,402			(44,528	)
Net cash used in transactions with third parties		(341,971	)		(83,169	)		(75,240	)
Net cash used in operating activities		(268,996	)		(27,767	)		(119,768	)
Cash flow from investing activities：
Loans (paid to)/collected from inter-company entities		(60,000	)		155,085			(12,523	)
Other investing activities		270,049			(123,199	)		93,034
Net cash provided by investing activities		210,049			31,886			80,511
Cash flow from financing activities：
Investments from inter-company entities		—			—			400
Repatriation of capital to facilitate the reorganization		—			—			(10,000	)
Proceeds from/(repayment of) loans from inter-company entities		368,399			(380,560	)		(20,890	)
Other financing activities		—			4,365			(240	)
Net cash provided by/(used in) financing activities		368,399			(376,195	)		(30,730	)

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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