Phoenix Media announced that the controlling shareholder Phoenix Group has signed a share transfer agreement with China Mobile Investment. Phoenix Group will transfer 254 million company shares (accounting for 10% of the company's total share capital) to China Mobile Investment through an agreement transfer method at a price of 7.73 yuan/share. After the signing of this agreement, China Mobile Investment should make every effort to coordinate China Mobile Communications Co., Ltd. and other related parties to carry out strategic business cooperation with Phoenix Media. By integrating the technology, capabilities, resources and platform advantages of the two parties, China Mobile Investment will actively promote the integration of cultural digital publishing, smart education and digital technologies such as 5G, big data, cloud computing, etc., to push Phoenix Media to accelerate digital transformation and achieve high-quality development.