Thanks for that, Fundy. And look who is long... It's the Toro guys.
We consider Phoenix New Media (FENG, or "the Company"] to be the most unappreciated publicly traded Chinese media company and believe investors in FENG's undervalued shares will realize a 100% return over a 12-18 month period. Longer-term investors should compound further returns as multiple secular trends that benefit the Company continue to unfold over the next three to four years.