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Organization and Principal Activities (Tables)
12 Months Ended
Dec. 31, 2019
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, 2019 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

%

 

Game

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

%

 

Game

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

Yifeng Lianhe (Beijing) Technology Co., Ltd. (“Yifeng Lianhe”)

 

PRC

 

June 16, 2006

 

 

100

%

 

Digital entertainment

Beijing Chenhuan Technology Co., Ltd. (“Chenhuan”)

 

PRC

 

June 10, 2014

 

 

100

%

 

Game

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

%

 

Digital entertainment

Beijing Yitian Xindong Network Technology Co., Ltd. (“Yitian Xindong”)

 

PRC

 

September 05,2008

 

 

51

%

 

Digital entertainment

Beijing Fenghuang Tianbo Network Technology Co., Ltd. (“Tianbo”)

 

PRC

 

May 31, 2013

 

 

50

%

 

Advertising

 

*

In January 2018, the name of “I Game Limited” was changed to “Fread Limited”.

**

In April 2017, the name of “Beijing Fenghuang Interactive Entertainment Network Technology Co., Ltd.” was changed to “Beijing Fengyu Network Technology Co., Ltd.”.

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 of the consolidated VIEs (in thousands):

 

 

 

As of December 31,

 

 

 

2018

 

 

2019

 

 

2019

 

 

 

RMB

 

 

RMB

 

 

US$

 

Current assets

 

 

979,025

 

 

 

1,223,454

 

 

 

175,738

 

Non-current assets

 

 

530,118

 

 

 

588,327

 

 

 

84,508

 

Total assets

 

 

1,509,143

 

 

 

1,811,781

 

 

 

260,246

 

Accounts payable

 

 

135,407

 

 

 

132,690

 

 

 

19,060

 

Amounts due to related parties

 

 

11,531

 

 

 

24,194

 

 

 

3,475

 

Amounts due to inter-company entities

 

 

631,392

 

 

 

1,030,231

 

 

 

147,983

 

Advances from customers

 

 

31,686

 

 

 

56,212

 

 

 

8,074

 

Taxes payable

 

 

48,697

 

 

 

82,475

 

 

 

11,847

 

Salary and welfare payable

 

 

40,949

 

 

 

82,095

 

 

 

11,792

 

Accrued expenses and other current liabilities

 

 

189,228

 

 

 

234,004

 

 

 

33,613

 

Current liabilities

 

 

1,088,890

 

 

 

1,641,901

 

 

 

235,844

 

Non-current liabilities

 

 

28,796

 

 

 

52,087

 

 

 

7,482

 

Total liabilities

 

 

1,117,686

 

 

 

1,693,988

 

 

 

243,326

 

 

 

 

For the Years Ended December 31,

 

 

 

2017

 

 

2018

 

 

2019

 

 

2019

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

US$

 

Revenues

 

 

769,943

 

 

 

591,495

 

 

 

889,084

 

 

 

127,709

 

Net loss

 

 

(7,760

)

 

 

(112,146

)

 

 

(174,661

)

 

 

(25,089

)

 

 

 

For the Years Ended December 31,

 

 

 

2017

 

 

2018

 

 

2019

 

 

2019

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

US$

 

Net cash (used in)/provided by operating activities

 

 

(3,950

)

 

 

100,256

 

 

 

(227,916

)

 

 

(32,738

)

Net cash provided by/(used in) investing activities

 

 

65,600

 

 

 

(164,190

)

 

 

129,697

 

 

 

18,630

 

Net cash (used in)/provided by financing activities

 

 

(2,000

)

 

 

 

 

 

224,299

 

 

 

32,219