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FENG vs JOYY

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

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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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JOYY Inc. American Depositary Shares

JOYY Inc., together with its subsidiaries, engages in the provision of social product matrix and communication technology. It operates through two segments, BIGO and All Other. The company operates Bigo Live, a social live streaming platform that provides an interactive online stage for users to host and watch live streaming sessions, share their life moments, showcase their talents, and interact with people; Likee, a short video social platform, which enables users to discover, create, and share short videos, with video creation tools and personalized feeds; and imo, an instant messenger platform that provides audio and video communication services. It also provides Bigo Ads, a mobile advertising platform, which connects advertisers and publishers; Hago, a social networking platform that offers casual games integrating social features, such as audio and video multi-user chatrooms and 3D virtual interactive party games; and Shopline, a smart commerce platform that provides solutions and services to enable merchants in creating and growing their brands online and reach customers through various sales channels, including e-commerce platforms, social commerce, and physical retail stores. The company operates in the North America, Europe, the Middle East, Southeast Asia, and internationally. The company was formerly known as YY Inc. and changed its name to JOYY Inc. in December 2019. JOYY Inc. was founded in 2005 and is headquartered in Singapore.

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