Company: FENG
Filing Date: 2025-04-18
Form Type: 20-F
Source: 0000950170-25-055759
Chunk: 30

Company: Phoenix New Media Ltd
Filing Date: 2025-04-18
Form: 20-F
Item: Item 4
Chunk 30
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 they do not contain any racial, violent, pornographic or other inappropriate content. This team also verifies that advertisers have provided relevant government approvals if their advertisements are subject to special government requirements.

Marketing and Promotion

We employ a variety of traditional and online marketing programs and promotional activities as part of our overall marketing strategy to build our brand. Our focus is on enhancing brand awareness and expanding our user base through proactive public relations efforts, as well as innovative and interactive marketing campaigns and events.

In September 2024, we co-hosted the 2024 Bay Area Financial Summit with Phoenix TV. The summit brought together elite figures from the political, business, and academic sectors, both domestically and internationally. The event not only addressed macroeconomic issues but also showcased the content innovation capabilities of the Phoenix media ecosystem through original content and in-depth reporting, achieving widespread content dissemination. Through deep collaboration with government, business, and academic circles, we further solidified our brand position and laid the groundwork for future commercial partnerships.

We believe that our distinguished content and high-quality services lead to strong word-of-mouth promotion, which drives consumer awareness of our brand in China. In addition, our engagement in philanthropic activities, such as our Activist League(“ 行动者联盟”), helps associate our brand with social responsibility. In November 2024, we hosted The Activist League Charity Gala in Beijing, which is a charity event where philanthropist, media, celebrities jointly promote social welfares. The live stream of the event had over 5 million views, and the related Weibo topic garnered 400 million reads, reinforcing our brand’s commitment to social responsibility and deepens our connection with socially conscious audiences.

Seasonality

Seasonal fluctuations and industry cyclicality have affected, and are likely to continue to affect our business. We generally generate less revenue from advertising sales and paid services revenues during national holidays in China, in particular during the Chinese New Year holidays in the first quarter of each year. We typically generate higher net advertising revenues in the fourth quarter due to greater advertising spending by our advertisers near the end of each calendar year when they spend the remaining portions of their annual budgets. In addition, advertising spending in China has historically been cyclical, reflecting overall economic conditions as well as the budgeting and buying patterns of our advertisers. We expect that the seasonal fluctuations and cyclicality to cause our quarterly and annual operating results to fluctuate. See “ Item 3. Key Information - D. Risk Factors - Risks Relating to Our Business and Industry - Our quarterly