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EDUC vs FENG

Educational Development Corp and Phoenix New Media Limited American Depositary Shares (each representing forty-eight (48) Class A Ordinary Shares)

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Educational Development Corp

Educational Development Corporation distributes children's books, educational toys and games, and related products in the United States. The company operates in two segments, PaperPie and Publishing. It sells various books, including touchy-feely board books, activity books and flashcards, adventure and search books, art books, sticker books, and foreign language books; learning manipulatives and toys; and internet-linked books comprising science and math titles, and chapter books and novels. The company markets and sells its products to retail accounts, which include book, school supply, toy, and gift stores, as well as museums through commissioned sales representatives, trade and specialty wholesalers, its internal tele-sales group, and a network of independent sales representatives. Educational Development Corporation was incorporated in 1965 and is headquartered in Tulsa, Oklahoma.

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Phoenix New Media Limited American Depositary Shares (each representing forty-eight (48) Class A Ordinary Shares)

Phoenix New Media Limited provides content through an integrated Internet platform in the People's Republic of China. It operates in two segments, Net Advertising Services and Paid Services. The company provides various interest-based content verticals, such as news, military affairs, video, technology, finance, entertainment, automobiles, sports, real estate, home living, fashion, and history through its website, ifeng.com; and interactive services, including comment postings and user surveys. It also provides mobile newspaper and mobile video services, as well as e-commerce and wireless value-added services. In addition, the company's mobile channel comprises ifeng News, a news application that provides newsfeeds and other content in the form of text, images, live streaming, and video; ifeng Video, a video application, which offers video news, live broadcasting, Phoenix TV programs content, etc.; i.ifeng.com mobile Internet website; and digital reading applications. It offers content and services through PC, mobile, and third-party channels, as well as transmits content primarily through Phoenix TV to TV viewers. Phoenix New Media Limited was founded in 1998 and is headquartered in Beijing, the People's Republic of China. Phoenix New Media Limited is a subsidiary of Phoenix Satellite Television (B.V.I.) Holding Limited.

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