Phoenix TV (02008) announced the financial results of its subsidiary, Phoenix New Media, for the fourth quarter and full year of 2025. In the fourth quarter of 2025, total revenue reached RMB 222.3 million, representing a 1.9% increase compared to the same period in 2024. This growth was primarily driven by a year-on-year rise in paid service revenue. Gross profit increased by 27.5% to RMB 123.7 million. Net income attributable to Phoenix New Media was RMB 45.3 million, a significant improvement from a net loss of RMB 3.6 million in the same period of 2024.
Net advertising revenue was RMB 181.1 million, a decrease of 4.2% from RMB 189.0 million in the fourth quarter of 2024. Paid service revenue for the quarter was RMB 41.2 million, a substantial increase of 41.6% compared to RMB 29.1 million in the prior-year period. Paid service revenue includes income from paid content, as well as revenue from e-commerce and other sources. Paid content revenue specifically grew by 51.9% to RMB 36.6 million, up from RMB 24.1 million a year earlier. This growth was mainly attributed to revenue generated from the company's digital reading business via mini-programs on third-party applications. Revenue from e-commerce and other services was RMB 4.6 million, down 8.0% from RMB 5.0 million in the same quarter of 2024, primarily due to a strategic scaling back of e-commerce operations.
Mr. Sun Yusheng, CEO of Phoenix New Media, commented, "During the fourth quarter, we focused on building our core capabilities, strengthening our position as a leading media outlet, enhancing our original content system, and advancing our technology and partnership strategies. Moving forward, the company will adhere to its professional positioning and long-term principles to solidify the foundation for sustainable growth."
For the full year 2025, total revenue was RMB 765.6 million, an increase of 8.8% year-on-year. This growth was also largely due to revenue from the digital reading business conducted through mini-programs on third-party apps. Gross profit for the year was RMB 374.1 million, a significant increase of 39.2% compared to 2024. The gross profit margin for 2025 improved to 48.9%, up from 38.2% in 2024, primarily because of the higher margin associated with the digital reading business and its substantial revenue growth.
Net income attributable to Phoenix New Media for 2025 was RMB 0.3 million, a notable turnaround from a net loss of RMB 53.6 million in 2024. Net advertising revenue for the year was RMB 614.3 million, a slight decrease of 2.6% from RMB 630.6 million in 2024. The net profit margin for 2025 was 0.0%, compared to a negative 7.6% in the previous year. Basic and diluted net income per ordinary share for 2025 were both RMB 0.00, contrasting with a basic and diluted net loss per ordinary share of RMB 0.09 in 2024.
Looking ahead, the company provided guidance for the first quarter of 2026, forecasting total revenue between RMB 160.0 million and RMB 175.0 million. Net advertising revenue is expected to be in the range of RMB 111.2 million to RMB 121.2 million, while paid service revenue is projected to be between RMB 48.8 million and RMB 53.8 million.