iQIYI, Inc. American Depositary Shares - IQ STOCK NEWS

iQIYI Inc. (NASDAQ: IQ) announced that its original teen drama Hikaru no Go has gained significant acclaim in China and internationally. The show, adapted from a Japanese manga, boasts an impressive 8.4 rating on Douban, marking it as the highest-rated domestic teen drama this year. The series has sparked widespread discussions on social media, accumulating over 770 million views on trending topics. Its depiction of the game of Go has been praised for promoting Go culture among the youth. The success underscores iQIYI's commitment to high-quality original content.

iQIYI Inc. (NASDAQ: IQ) has announced the global debut of its virtual idol group, RiCH BOOM, which performed at the MTV Video Music Awards Japan on November 29. This marks the first appearance of a Chinese virtual idol group at this prestigious event. RiCH BOOM, developed to target global expansion, has garnered millions of views on its music videos and is making strides in commercial ventures, collaborating with major brands like Tsingtao Brewery and Sprite. iQIYI aims to further promote RiCH BOOM and explore innovative entertainment models.

iQIYI Inc. (NASDAQ: IQ) announced the theatrical release of its co-produced documentary Tough Out on December 11, 2020, utilizing a new distribution model in collaboration with Elemeet. The film, which tells the story of troubled teenagers and baseball, has won multiple awards and received a high rating of 8.8/10 on Douban. iQIYI's partnership with Elemeet aims to enhance box office revenues and streamline distribution. Additionally, iQIYI has released another film, Balloon, and plans to distribute more films under this innovative model.

iQIYI Inc. (NASDAQ: IQ) announced that its research on a proprietary automatic animation colorization technique has been accepted at WACV 2021, a leading computer vision event. The new model enhances accuracy and efficiency, reducing manual labor by nearly 30%. iQIYI's smart colorization engine streamlines the colorization process, taking only 0.7 seconds per piece. The engine is set to boost productivity in China's booming animation market, projected to reach 400 million fans by year-end. iQIYI aims to leverage AI to drive innovation and efficiency in content production.

iQIYI, Inc. (Nasdaq: IQ) reported a total revenue of RMB7.2 billion (US$1.1 billion) for Q3 2020, a 3% decline from Q3 2019. Operating loss decreased significantly to RMB1.2 billion (US$178.2 million), with a margin of 17%. Net loss also narrowed to RMB1.2 billion (US$173.0 million), or RMB1.61 (US$0.24) per ADS. Membership revenue grew by 7% to RMB4.0 billion (US$585.5 million), while advertising services revenue fell by 11%. iQIYI expects Q4 2020 revenues of RMB7.28 billion to RMB7.73 billion, reflecting cautious optimism amidst market challenges.

iQIYI Inc. (NASDAQ: IQ) announced that its PVOD film Spring Tide has received nominations for Best Feature Film and Best Director at the prestigious Golden Rooster Awards, marking a historical first for PVOD releases. The film, which explores complex family dynamics, has sparked significant online discussions, trending on Weibo with over 20 million views. Yang Xianghua, iQIYI's President, expressed confidence in the PVOD distribution model, emphasizing its potential to cater to diverse audience needs while enhancing revenue for filmmakers.

On November 9, 2020, iQIYI (NASDAQ: IQ) debuted Paramount Pictures' The SpongeBob Movie: Sponge on the Run in its Ultimate Online Cinema via premium video-on-demand (PVOD). This marks the first animated blockbuster in China to premiere just one day after its overseas release, with a viewing price of RMB 6 for subscribers and RMB 12 for non-subscribers. The company continues to lead in PVOD by streaming various popular films through its platform, offering high-quality viewing experiences through advanced technologies. The content was made available through a licensing agreement with ViacomCBS Global Distribution Group.

On November 7, iQIYI Inc. (NASDAQ: IQ) launched the inaugural Suike Carnival in Shanghai, a two-day event for its short video platform Suike. The carnival aims to connect young users with content creators, fostering community engagement. Key executives highlighted the importance of user involvement in content creation, especially in the 5G era. The event featured over 60 creators and facilitated interactions through various booths, with the Suike Night party scheduled for November 8. iQIYI focuses on leveraging technology to enhance user engagement and monetize its platform through diverse revenue streams.