Phoenix Media: intends to publicly list for transfer 61.03% of the equity and debt of Phoenix Legend, with a listing price of 82.6164 million yuan.

Phoenix Media announced that it plans to publicly transfer the 61.03% equity of Phoenix Legend Film Co., Ltd. held by Jiangsu Cultural Property Exchange Co., Ltd. and its debt for a listing price of 82.6164 million yuan. The target company Phoenix Legend Film Co., Ltd. is in a financial crisis due to a downturn in the industry and poor management, with its operations stagnating. Phoenix Media holds 22.07% of the equity in Phoenix Legend, while its wholly-owned subsidiary Jiangsu Phoenix Literature and Art Publishing Co., Ltd. holds 38.96% of the equity.