Phoenix New Media Limited announced that Mr. Ya Li and Mr. Tong Chen have submitted resignations from their executive positions at ifeng in order to fully commit to accelerating the strategic development of Particle Inc. Mr. Ya Li and Mr. Tong Chen have been serving as Co-Presidents of ifeng while simultaneously serving executive positions at Particle. After their resignations become effective on September 8, 2017, Mr. Ya Li and Mr. Tong Chen will continue to serve as the CEO and President of Particle, respectively.