Home Equities Score Phoenix New Media Ltd. (FENG) stock surged during pre-market trading. What’s new?

Phoenix New Media Ltd. (FENG) stock surged during pre-market trading. What’s new?

Phoenix New Media Ltd. (NASDAQ: FENG) stock gained by 0.66% at last close as well as the FENG stock price rises by 7.89% in the pre-market trading session. Phoenix New Media Limited is a major new media business in China that offers premium content through an integrated Internet platform that includes both PC and mobile devices.

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Current Update

Phoenix New Media Limited has confirmed that it will conduct its annual general meeting of shareholders. The meeting will take place at Sinolight Plaza, No. 4 Qiyang Road, Wangjing, Chaoyang District, Beijing 100102, the People’s Republic of China on August 12, 2021.


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Holders of ordinary shares of FENG on record at the end of business on July 12, 2021 have the right to receive notice of and vote at the annual general meeting, as well as any adjournment or postponement thereof. Holders of FENG’s American depositary shares (“ADSs”) must operate through the depositary of FENG’s ADS program, JPMorgan Chase Bank, to utilize their voting rights for the underlying Class A ordinary shares.

After Mr. Keung Chui departs from the Board of Directors on August 12, 2021, the board of directors suggests that Mr. Yusheng Sun be elected as a director of FENG. The Board has also decided to appoint Mr. Sun as chairman of the Board, which will take effect after Mr. Sun is elected as a director of FENG.

Furthermore,

Mr. Sun, who is 61 years old, is the Executive Director, Deputy Chief Executive Officer, and Editor-in-Chief of FENG’s parent business, Phoenix Media Investment Limited. Mr. Sun has spent more than 30 years at China Central Television. He was the media center’s vice president, deputy editor-in-chief, and director. Within the television broadcasting sector, he has a lot of expertise and a high reputation. In 1995, he was named one of China’s “Top Ten Outstanding Youth.” Mr. Sun received the State Council Special Allowance and was chosen vice president of the Asia-Pacific Broadcasting Union (“ABU”) in 2017, making him the first Chinese citizen to hold such a position in the organization.

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