Company: FENG
Filing Date: 2025-04-18
Form Type: 20-F
Source: 0000950170-25-055759
Chunk: 37

Company: Phoenix New Media Ltd
Filing Date: 2025-04-18
Form: 20-F
Item: Item 4
Chunk 37
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 the plaintiff and fulfilled its obligation under the judgment. In June 2021, the plaintiff applied for a retrial with the Supreme People’s Court and the Supreme People’s Court conducted a hearing on the matter of retrial. On April 7, 2023, the Supreme People’s Court has rendered its decision and dismissed the plaintiff’s application for retrial. The plaintiff also applied to the People’s Procuratorate of Beijing Municipality in May 2024 to initiate the litigation supervision procedure for this case. However, the People’s Procuratorate of Beijing Municipality made a decision in November 2024, not to support the application filed by the plaintiff.

Litigation is subject to inherent uncertainties and our view of these matters may change in the future. There exists the possibility of a material adverse impact on our financial position, results of operations or cash flows for the period in which the unfavorable outcome occurs, and potentially in future periods.

Regulatory Matters

Licenses and Permissions Requirements

Except for as disclosed in “ Item 3. Key Information - D. Risk Factors - Risks Relating to Our Business and Industry - Our lack of an Internet audio-visual program transmission license has exposed, and may continue to expose, us to administrative sanctions, including the banning of our paid mobile video services and video advertising services, which would materially and adversely affect our business and results of operation,” “ Item 3. Key Information - D. Risk Factors - Risks Relating to Our Business and Industry - Our lack of an Internet news license may expose us to administrative sanctions, including an order to cease our Internet information services or to cease the Internet access services provided by third parties to us. In 2024, the vast majority of our total revenues were derived from Internet information services and services that relied on Internet access services from third parties,” “ Item 3. Key Information - D. Risk Factors - Risks Relating to Our Business and Industry - Failure to obtain NRTA’s approval for introducing and broadcasting foreign television programs could have a material adverse effect on our ability to conduct our business,” “ Item 3. Key Information - D. Risk Factors - Risks Relating to Our Business and Industry - Failure to obtain certain permits for our advertising services that contain drug-related information would subject us to penalties,” “ Item 3. Key Information - D. Risk Factors - Risks Relating to Our Business and Industry - If we fail to obtain or maintain all applicable permits and approvals, or fail to comply with PRC regulations, relating