Phoenix Media Investment (Holdings) (2008) AI Stock Analysis

• Market Cap: $1.00B
• Dividend Yield: N/A
• Average Volume (3M): 1.03M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.47
• Revenue Growth: -13.10%
• EPS Growth: 13.01%
• Country: HK
• Employees: 2,401
• Sector: Communication Services
• Sector Strength: 97
• Industry: Internet Content & Information
• EPS (TTM): -0.41
• Shares Outstanding: 499,365,940
• 10 Day Avg. Volume: 2,648,140
• 30 Day Avg. Volume: 1,033,686
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: -0.37
• Enterprise Value/Revenue: -0.17
• Enterprise Value/Gross Profit: -2.99
• Enterprise Value/Ebitda: 2.60
• 1Y Price Target: $2.49
• Price Target Upside: 20.30% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 55 Neutral
• Price Target: HK$2.50 ▲(20.77% Upside)

Phoenix Media Investment (Holdings) shows strong technical momentum, which is the most significant positive factor. However, this is overshadowed by poor financial performance and unattractive valuation metrics, leading to a moderate overall score. The absence of earnings call insights and corporate events means these areas did not influence the score.

Phoenix Media Investment (Holdings) Business Overview & Revenue Model

Company Description

Phoenix Media Investment (Holdings) Limited, an investment holding company, provides satellite television broadcasting services in the People's Republic of China and internationally. The company operates through five segments: Television Broadcasting, Internet Media, Outdoor Media, Real Estate, and Other Activities. The Television Broadcasting segment engages in broadcasting television programs and commercials; and provision of promotion activities through the operation of Phoenix Chinese and Phoenix InfoNews channels, as well as Phoenix Movies, Phoenix North America Chinese, Phoenix Chinese News and Entertainment, Phoenix Hong Kong, and other channels. The Internet Media segment offers website portal and value-added telecommunication services. The Outdoor Media segment provides outdoor advertising services. The Real Estate segment is involved in the property development and investment activities. The Other Activities segment offers program production and ancillary services, merchandising services, magazine publication and distribution, and other related services. It also provides radio broadcasting; research and development; cultural development; software and games development; trademark and property holding; hotel management; publishing and distributing periodicals; technical and financial consulting; aircraft chartering; exhibition; education technology; programme production; real estate brokerage; mobile value-add; capital market; and management and related services. The company was founded in 1996 and is headquartered in Tai Po, Hong Kong.

How the Company Makes Money

Phoenix Media Investment (Holdings) Limited generates revenue through multiple streams. Its primary source of income is advertising revenue from its television broadcasting services, particularly from the Phoenix Chinese Channel and other related channels. The company also monetizes its digital media platforms through online advertising and subscription services. Additionally, its outdoor advertising business contributes to its earnings by leasing advertising space in high-traffic locations. Strategic partnerships with other media companies and content distributors further enhance its revenue potential by expanding its reach and audience engagement.

Phoenix Media Investment (Holdings) Financial Statement Overview

Summary

Phoenix Media Investment (Holdings) faces significant financial challenges, with declining revenues and persistent losses impacting profitability. While the balance sheet shows a stable equity position with improving leverage, the company's ability to generate positive cash flow is constrained. The firm must focus on reversing revenue declines and improving operational efficiencies to achieve sustainable financial health.

Income Statement

Phoenix Media Investment (Holdings) has shown a consistent decline in revenue over the years, with a revenue decrease from HKD 3,688,231,000 in 2019 to HKD 2,235,129,000 in 2024. Gross profit margins have also decreased, indicating challenges in maintaining cost efficiency. Net profit margins and EBIT margins are negative, reflecting ongoing losses. However, EBITDA has seen some improvement in recent years, suggesting potential operational efficiency gains.

Balance Sheet

The company's balance sheet reflects a relatively stable equity position, with a debt-to-equity ratio that has improved over time, indicating decreasing leverage. Stockholders' equity has decreased, yet remains a significant portion of total assets. The equity ratio is strong, suggesting financial stability, although the overall decline in total assets is a concern.

Cash Flow

Phoenix Media's cash flow statements reveal fluctuating free cash flow with negative growth in recent years. The operating cash flow to net income ratio is not meaningful due to negative net income and zero operating cash flow in 2024. The free cash flow to net income ratio is also challenging to assess under these circumstances. The company has struggled to generate positive free cash flow consistently, posing a risk to liquidity.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.24B	2.47B	3.00B	3.16B	3.03B
Gross Profit	125.29M	140.20M	71.04M	160.88M	238.39M
EBITDA	-14.01M	47.01M	8.53M	-102.03M	-1.16B
Net Income	-252.60M	-258.99M	-382.50M	-456.20M	-1.04B
Balance Sheet
Total Assets	5.83B	6.69B	7.22B	8.78B	9.35B
Cash, Cash Equivalents and Short-Term Investments	2.54B	2.26B	2.62B	3.19B	3.81B
Total Debt	582.65M	933.96M	847.85M	962.57M	1.08B
Total Liabilities	2.08B	2.52B	2.79B	3.37B	3.48B
Stockholders Equity	2.86B	3.19B	3.41B	4.04B	4.41B
Cash Flow
Free Cash Flow	302.16M	-125.15M	171.95M	-264.10M	-796.54M
Operating Cash Flow	352.66M	-44.19M	295.29M	-167.06M	-728.88M
Investing Cash Flow	346.28M	514.91M	296.17M	-250.21M	1.41B
Financing Cash Flow	-181.32M	-104.79M	-417.93M	-449.33M	-567.75M

Phoenix Media Investment (Holdings) Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.07
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2008, the sentiment is Positive. The current price of 2.07 is above the 20-day moving average (MA) of 1.58, above the 50-day MA of 1.49, and above the 200-day MA of 1.28, indicating a bullish trend. The MACD of 0.18 indicates Negative momentum. The RSI at 65.65 is Neutral, neither overbought nor oversold. The STOCH value of 69.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2008.

Phoenix Media Investment (Holdings) Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3700	72 Outperform	HK$2.32B	7.36	4.10%	3.22%	-17.47%	-7.94%
2390	65 Neutral	HK$3.59B	22.40	-4.15%	―	-22.45%	―
2008	55 Neutral	$1.00B	―	-9.70%	―	-13.10%	13.01%
0543	55 Neutral	HK$401.32M	14.79	6.29%	13.66%	-9.35%	57.89%
0150	54 Neutral	HK$438.39M	-19.80	-4.93%	1.78%	-25.58%	-193.58%
1980	48 Neutral	HK$704.72M	-14.84	0.89%	4.62%	15.66%	47.36%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%

Phoenix Media Investment (Holdings) Corporate Events

Phoenix Media Reports Revenue Decline Amidst Competitive Pressures

Phoenix Media Investment (Holdings) Limited reported a 16.2% decline in revenue for the first half of 2025, attributed to decreased advertising revenue amid intensified competition and shifting consumer preferences. Despite the financial challenges, Phoenix TV maintained its focus on delivering high-quality news and enhancing its international influence, with coverage of significant global events and recognition for its professional production standards. The company’s brand value continues to grow, maintaining its status as one of the top Asian television brands.

Phoenix Media Continues Advertising Transactions with CMCC Group

Phoenix Media Investment (Holdings) Limited has announced the continuation of its transactions involving the sale of advertising airtime on outdoor LED panels to the CMCC Group, a connected entity. These transactions, which have been ongoing since 2015, will continue under separate written contracts with various CMCC Group members due to changes in CMCC’s internal policy. The company has secured a waiver from the Stock Exchange to comply with certain listing rules, allowing these transactions to proceed without a framework agreement for the period from July 2025 to December 2027. This development is significant for Phoenix Media’s operations as it ensures continued revenue from a major client, impacting its market positioning and stakeholder interests.

Phoenix Media Announces Q2 2025 Financial Results for Subsidiary

Phoenix Media Investment (Holdings) Limited announced the unaudited financial results for the second quarter of 2025 for its subsidiary, Phoenix New Media Limited. The results were filed with the United States Securities and Exchange Commission, highlighting the company’s ongoing financial performance and regulatory compliance. This announcement underscores the company’s commitment to transparency and its strategic positioning in the global media market.

Phoenix Media to Review Interim Results and Dividend Proposal

Phoenix Media Investment (Holdings) Limited has announced a board meeting scheduled for August 15, 2025, to approve and publish its unaudited interim results for the first half of the year ending June 30, 2025. The meeting will also consider the recommendation of an interim dividend, which could impact the company’s financial strategy and shareholder returns.