iQIYI, Inc. American Depositary Shares - IQ STOCK NEWS

iQIYI Inc. (NASDAQ: IQ) announced that its co-produced film, Memoria, is included in the official competition lineup of the 74th Cannes International Film Festival. Directed by Palme d'Or winner Apichatpong Weerasethakul and starring Tilda Swinton, the film marks iQIYI's fourth entry in a major international film festival. This highlights the company's capability in producing high-caliber films. iQIYI plans to continue collaborating with global talents and has invested heavily in original content, launching an original film list comprising 33 films for 2021.

iQIYI Inc. (NASDAQ: IQ) announced the launch of its new romantic drama collection, SWEET ON Theater, featuring seven distinct series. The first series, Moonlight, is now available on its streaming platform. Aimed at young audiences, the collection explores various themes of love, combining romance with elements of workplace dynamics, fantasy, and suspense. The initiative is part of iQIYI's strategy to diversify content, responding to the evolving tastes of viewers and enhancing user experience.

iQIYI, Inc. (Nasdaq: IQ) reported Q1 2021 revenues of RMB8.0 billion (US$1.2 billion), a 4% year-over-year increase. The operating loss narrowed to RMB1.0 billion (13% margin), down from RMB2.2 billion (29% margin) in Q1 2020. Net loss also improved to RMB1.3 billion (US$193.4 million) from RMB2.9 billion. Subscribing members grew by 3.6 million quarter-over-quarter to 105.3 million. However, membership service revenue decreased by 7% due to a decline from the pandemic peak. Total cash as of March 31, 2021, was RMB13.3 billion (US$2.0 billion).

iQIYI has reported robust performance in Q1 2021, with 105.3 million subscribers and a revenue increase of 12% sequentially to RMB4.31 billion. The company faced challenges in its membership business but noted a 490 million cumulative paid accounts, indicating strong user interest in quality content. Innovations like the iQIYI Lite app and successful shows like My Heroic Husband reflect ongoing growth strategies. iQIYI aims to enhance content quality and production efficiency via intelligent production techniques, addressing content shortages and expanding market reach.

iQIYI, Inc. (NASDAQ:IQ) announced new series and content innovations during its annual iQIYI World Conference in Shanghai on May 13-14, 2021. The Company revealed over 200 upcoming titles, highlighting its commitment to high-quality content and a user-centric approach utilizing 5G, AI, and VR technologies. iQIYI aims to enhance its open membership platform and deepen partnerships for tailored user experiences. Additionally, it launched 'Project Leap' to standardize equipment and production processes, collaborating with 27 partners to ensure quality in content creation.

On May 13-14, 2021, iQIYI hosted its World Conference in Shanghai, focusing on the future of the entertainment industry. The event featured 17 forums attended by industry experts discussing trends such as technology, content, and the membership economy. CEO Gong Yu highlighted the increasing demand for high-quality content and the role of technological innovation in content creation. iQIYI also announced new initiatives like the Dongyang Creative Cultural and Entertainment Complex, aimed at enhancing its entertainment ecosystem. The conference emphasized the necessity of industry regulations for sustainable growth.

iQIYI Inc. (NASDAQ: IQ) announced the success of its exclusive drama A Love for Dilemma, which achieved a content popularity index exceeding 9000 since its premiere. The show has generated 223 hashtags and became the leading trending topic in China during Q2 2021. It addresses educational issues and parent-child relationships, engaging over four million viewers in interactive polls. With nearly 6.75 million user-generated bullet comments, it has become a cultural phenomenon, attracting attention across various professional fields. iQIYI continues to innovate with diverse, high-quality content to enhance user experience.

iQIYI, Inc. (NASDAQ: IQ) will report its financial results for the first quarter ended March 31, 2021, before U.S. market opens on May 18, 2021. Management will host an earnings conference call at 7:00 AM ET on the same day. Participants must register in advance to receive dial-in numbers and a passcode for the call. A replay will be accessible after the event until May 26, 2021. iQIYI is recognized as a leading online entertainment service in China, combining innovative technology with creative talent to deliver popular content and diverse monetization strategies.

iQIYI Inc. (NASDAQ: IQ) has been recognized at the 2021 Digital Media Awards China, winning four prestigious awards, including Digital Media Innovator of the Year and Best Digital Marketing Team. The awards highlight iQIYI's advancements in technology-driven content creation and its effective marketing strategies that resonate with younger audiences. The company continues to innovate through initiatives like the FOURTRY brand and immersive experiences in virtual reality, showcasing its commitment to enhancing user engagement and brand partnerships in a challenging economic environment.