Company: FENG
Filing Date: 2025-04-18
Form Type: 20-F
Source: 0000950170-25-055759
Chunk: 141

Company: Phoenix New Media Ltd
Filing Date: 2025-04-18
Form: 20-F
Item: Item 10
Chunk 141
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-market method of accounting for your securities;
•a person liable for alternative minimum tax;
•a person who owns or is deemed to own 10% or more of our stock (by vote or value);
•a partnership or other pass-through entity for United States federal income tax purposes; 
•a person required to accelerate the recognition of any item of gross income with respect to our ADSs or Class A ordinary shares as a result of such income being recognized on an applicable financial statement; or
•a person whose “functional currency” is not the U.S. dollar.
The discussion below is based upon the provisions of the Code, United States Treasury regulations, rulings and judicial decisions thereunder and the income tax treaty between the United States and the PRC (the “Treaty”), all as of the date hereof. Such authorities may be replaced, revoked or modified so as to result in United States federal income tax consequences different from those discussed below. In addition, this summary assumes that the deposit agreement, and all other related agreements, will be performed in accordance with their terms.

This discussion does not consider the tax treatment of partnerships or other pass-through entities that hold our ADSs or Class A ordinary shares, or of persons who hold our ADSs or Class A ordinary shares through such entities. If a partnership (or other entity or arrangement treated as a partnership for United States federal income tax purposes) holds ADSs or Class A ordinary shares, the tax treatment of a partner will generally depend upon the status of the partner and the activities of the partnership. If you are a partnership or a partner of a partnership holding our ADSs or Class A ordinary shares, you should consult your tax advisors.
As discussed below under “—Passive Foreign Investment Company,” we believe we were a PFIC for 2024, and that there is a material risk that we may be classified as a PFIC for the current and future taxable years. Accordingly, you are urged to review the discussion below under “—Passive Foreign Investment Company,” and to consult your own tax advisors regarding the tax consequences to you if we are classified as a PFIC in any taxable year.
This summary does not contain a detailed description of all the United States federal income tax consequences to you in light of your particular circumstances and does not address the Medicare tax on net investment income, United States federal estate and gift taxes or the effects of any state, local or non-United States tax laws.
If you are considering the purchase of our ADSs or Class A ordinary shares, you should