iQIYI, Inc. American Depositary Shares - IQ STOCK NEWS

iQIYI, China's leading online entertainment service, has successfully launched a new VR immersive theater at Galaxy Macau, adapted from the popular fantasy series 'Love Between Fairy and Devil'. This project showcases the commercial potential of iQIYI's premium IP and follows successful VR adaptations of other blockbuster IPs.

The VR experience incorporates cutting-edge technology, including interactive gesture control, flight motion simulators, and artificial intelligence. The venue also features themed activities, dress-up zones, and cultural events. iQIYI plans to expand this project to various Chinese cities by the end of 2024.

This initiative is part of iQIYI's strategy to explore new revenue streams beyond membership and ads, leveraging its valuable IP for offline experiences and IP derivatives. The company aims to capitalize on the growing trend of immersive entertainment, extending the influence of its premium content and driving commercial value.

iQIYI (Nasdaq: IQ) reported its Q2 2024 financial results, showing a 5% year-over-year decrease in total revenues to RMB7.4 billion (US$1.0 billion). The company's operating income was RMB342.1 million, with an operating income margin of 5%, down from 8% in Q2 2023. Net income attributable to iQIYI decreased 81% year-over-year to RMB68.7 million. Membership services revenue, the largest segment, declined 9% to RMB4.5 billion. Despite challenges, iQIYI maintains its commitment to delivering premium content and has taken steps to optimize its financial leverage, including repurchasing convertible senior notes and entering into new facility agreements with PAG.

iQIYI, China's leading online entertainment service, premiered its new drama series 'For The Young Ones' on August 14, 2024. The series is the first Chinese drama to feature juvenile prosecutors as main characters, exploring societal issues affecting youth. It follows a team of prosecutors handling complex cases, addressing topics like school bullying and parental neglect.

The show stars actor Yi ZHANG and actress Lan QIN, known for their compelling performances. Zhiqi JIA, head of iQIYI Qixi Studio and chief producer, emphasized the series' aim to highlight the important role of juvenile prosecutors in shaping youth's lives and raise awareness about responding to incidents involving minors.

This release aligns with iQIYI's commitment to creating impactful content that addresses social issues, following their previous film 'Trending Topic' which tackled cyberbullying.

iQIYI, China's leading online entertainment service, has announced a strong start to its summer content lineup. The period detective drama 'Strange Tales of Tang Dynasty 2: To the West' has topped multiple charts with a content popularity index exceeding 10,000. The show has received widespread acclaim, earning an 8.2 rating on Douban and sparking significant social media buzz.

Other successful releases include the suspenseful drama 'Interlaced Scenes', the variety show 'Tenday', and the comedy animation series 'How Dare You!?'. The latter has performed exceptionally well globally, topping iQIYI's animation charts in the U.S., South Korea, and Singapore within its first week.

iQIYI's upcoming summer lineup features diverse content, including the period drama 'Go East', romance animation 'A Moment but Forever', and variety shows like 'The King of Stand-Up Comedy', initiated by Stephen Chow.

iQIYI, Inc. (Nasdaq: IQ), a leading Chinese online entertainment video service provider, has announced the results of its repurchase right offer for its 4.00% Convertible Senior Notes due 2026. The offer, which expired on July 30, 2024, resulted in US$395,450,000 aggregate principal amount of Notes being validly surrendered. The total Repurchase Price, including principal and accrued interest, amounts to US$397,471,188.84.

The Company has forwarded the Repurchase Price to Citibank, N.A., the paying agent, for distribution to the Noteholders who exercised their repurchase right. Following the settlement, only US$157,000 aggregate principal amount of the Notes will remain outstanding, subject to the existing terms of the Indenture and the Notes.

iQIYI's variety show 'Become a Farmer' concluded its second season on July 13, 2024, garnering widespread acclaim. The show, which immerses urban youth in agricultural life, earned a Best Variety Show nomination at the 29th Shanghai TV Festival. It was also recognized as a 'Sustainable Agriculture Promotion Partner' by WWF China and One Planet Foundation for its commitment to environmental sustainability.

The show followed 10 young individuals with minimal farming experience as they embraced rural life across 450 acres. It expanded on its innovative blend of long and short-form video content, introducing new crops and establishing an integrated farm. The season was a hit, scoring an iQIYI popularity index of 8,675 at its peak and maintaining the top spot on Douban for 8 consecutive weeks.

iQIYI (NASDAQ: IQ), a leading provider of online entertainment video services in China, has announced it will report its financial results for the second quarter ended June 30, 2024, on August 22, 2024, before the U.S. market opens. The company's management will hold an earnings conference call at 7:00 AM U.S. Eastern Time (7:00 PM Beijing Time) on the same day.

Participants can register in advance for the conference call using the provided link. Upon registration, they will receive dial-in numbers, a passcode, and a unique access PIN. A telephone replay of the call will be available until August 29, 2024. Additionally, a live and archived webcast of the conference call will be accessible at http://ir.iqiyi.com/.

On July 9, iQIYI launched AI-powered chatbots on its app and Weibo platform, allowing fans to interact with characters from popular shows like 'My Journey to You' and 'The Rap of China 2024'.

Developed by iQIYI's AIGC Interactive Center, these chatbots use large language models (LLMs) to faithfully recreate character personalities and knowledge.

The chatbots are updated with new plot developments for ongoing series, enabling real-time discussions. Users on the iQIYI app can also receive voice messages and personalized greetings, enhancing the interactive experience.

This initiative is part of iQIYI's broader strategy to deepen viewer engagement, complemented by other interactive features like 3D emojis and Karaoke Mode.

On June 27, 2024, iQIYI, a top online entertainment service in China, launched its iQIYI XR app for the Apple Vision Pro headset. The app is among the first in the VisionOS App Store in mainland China and offers an immersive viewing experience using iQIYI's extensive content library and advanced Apple Vision Pro features.

It includes over 25,000 high-quality videos and supports Dolby Vision and eXave MAX technology, delivering 4K Ultra HD, HDR, high frame rates, and superior audio. Users can access a variety of genres, including popular new series and films, with enhanced eye-tracking for vivid experiences.

The XR app integrates spatial computing technology for a seamless blend of digital and physical worlds, offering unique viewing experiences like the immersive scenes from 'Love Between Fairy and Devil' and panoramic VR adventures. The app also features personalized 3D emojis for interactive bullet comments, enhancing user engagement.