FENG Q3 2025 Earnings Call Summary

Total Revenues: RMB 200.9 million, up 22.3% year-on-year from RMB 164.3 million.
Net Advertising Revenues: RMB 159.3 million, a 7.3% increase from RMB 148.4 million.
Paid Services Revenues: RMB 41.6 million, a significant increase of 161.6% from RMB 15.9 million, driven by digital reading services.
Cost of Revenues: Increased by 3.1% to RMB 105.2 million.
Total Operating Expenses: RMB 109 million, reflecting a 23.6% year-on-year increase due to higher sales and marketing expenses.
Loss from Operations: RMB 13.3 million, improved from a loss of RMB 25.9 million in the previous year.
Net Loss Attributable to iFeng: RMB 4.9 million, compared to RMB 18.5 million last year.
Cash Position: As of September 30, 2025, cash and equivalents totaled RMB 1 billion (approximately USD 140.5 million).

Focus on high-quality original content and brand impact, with successful coverage of major events like the September 3 military parade, attracting over 32 million views.
Hosted significant events such as the Shanxi Culture and Tourism Development Promotion Event and the Phoenix Bay Area Finance Forum, generating substantial online impressions and enhancing brand influence.
Continued growth in user engagement, with nearly 0.5 million new followers on video platforms in Q3.
Strategic cooperation with HarmonyOS led to the development of new app features, enhancing user experience and integration.

Q4 Revenue Forecast: Expected total revenues between RMB 205.9 million and RMB 220.9 million.
Net Advertising Revenues: Projected between RMB 171.4 million and RMB 181.4 million.
Paid Services Revenues: Expected to range from RMB 34.5 million to RMB 39.5 million.
The outlook reflects ongoing uncertainties and market conditions.

The advertising market remains cautious, with clients adjusting budgets and marketing strategies, posing challenges for revenue growth.
Increased competition and the need for cost control were highlighted as critical factors for maintaining performance in Q4.
The company faces pressure to innovate and improve service capabilities to secure its market position.

The growth in advertising revenue was attributed to closer collaboration between sales and content teams, as well as leveraging media influence to attract key clients.
The Star Anchor program has been successful, tripling its revenue this year by meeting the demand for content creators.
Management acknowledged that while competition is expected to remain intense, they are committed to focusing on innovation and service improvements to navigate the challenges ahead.

FENG — Phoenix New Media Limited