IQIYI

iQIYI Original Drama Series to Be Remade Into Japanese Film, Promoting C-content Worldwide

Retrieved on: 
Wednesday, March 22, 2023

The drama became a massive hit after its release, receiving widespread acclaim from critics and viewers alike, both in China and in overseas markets.

Key Points: 
  • The drama became a massive hit after its release, receiving widespread acclaim from critics and viewers alike, both in China and in overseas markets.
  • As Light On series goes global and becomes widely acclaimed in overseas markets, it is transforming perceptions of original Chinese content and further increasing their influence.
  • Previously, iQIYI has produced The Bad Kids drama, stage play, game, merchandise product and other entertainment forms based on the IP of The Bad Kids.
  • In particular, the number of subscribers in the United States and Canada grew by over 70%, showing strong viewing interest in premium content and especially iQIYI's original drama series.

Over 7,300 industry talents at HKTDC FILMART and EntertainmentPulse

Retrieved on: 
Thursday, March 16, 2023

FILMART and EntertainmentPulse brought together over 7,300 industry talents from 41 countries and regions.

Key Points: 
  • FILMART and EntertainmentPulse brought together over 7,300 industry talents from 41 countries and regions.
  • Industry leaders participated in EntertainmentPulse conference series to talk about the latest entertainment industry trends.
  • EntertainmentPulse, the concurrent conference series of FILMART, featured a dedicated session on Web3 in the entertainment industry.
  • Users can revisit all the exciting content from EntertainmentPulse and utilise the direct messaging function offered through the FILMART online platform.

China Literature Announces 2022 Annual Results

Retrieved on: 
Thursday, March 16, 2023

HONG KONG, March 16, 2023 /PRNewswire/ -- China Literature Limited ("China Literature" or "the Company", stock code: 0772), a leading online literature and intellectual property ("IP") incubation platform in China, today announced the audited consolidated results for the year ended December 31, 2022.

Key Points: 
  • HONG KONG, March 16, 2023 /PRNewswire/ -- China Literature Limited ("China Literature" or "the Company", stock code: 0772), a leading online literature and intellectual property ("IP") incubation platform in China, today announced the audited consolidated results for the year ended December 31, 2022.
  • Mr. Edward Cheng, Chief Executive Officer of China Literature, commented: "We experienced major macro changes in 2022, and witnessed efforts across the digital entertainment industry to improve content quality and ROI.
  • The other losses in 2022 mainly consisted of a net fair value loss related to certain investee companies and acquisitions.
  • These blockbusters are all enabled by the unique strengths of China Literature's proprietary IPs, its ability to mobilize resources across the entire value chain, as well as the production capabilities of New Classics Media and China Literature Pictures.

Global Shipments of AR/VR Headsets Decline Sharply in 2022 Following the Prior Year's Strong Results, According to IDC

Retrieved on: 
Wednesday, March 8, 2023

The decline was not completely unexpected, however, given the limited number of vendors in the market, a challenging macro-economic environment, and a lack of mass market adoption from consumers.

Key Points: 
  • The decline was not completely unexpected, however, given the limited number of vendors in the market, a challenging macro-economic environment, and a lack of mass market adoption from consumers.
  • The results for 2022 were also hindered by difficult comparisons to the prior year, when the market was bolstered by Meta's Quest 2 and strong spending by consumers stuck at home with disposable income for entertainment.
  • As the Quest 2 approached its two-year anniversary and as global economies opened up, consumer and business spending shifted away from AR and VR headsets leading to the decline in 2022.
  • However, given the still low penetration of AR and VR into the market, it may take several cycles for mixed reality headsets to gain salience."

iQIYI Announces the Closing of Its Offering of US$600 Million Convertible Senior Notes due 2028 and Concurrent Repurchase of Convertible Senior Notes due 2026

Retrieved on: 
Tuesday, March 7, 2023

BEIJING, March 7, 2023 /PRNewswire/ -- iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced the closing of its offering (the "Notes Offering") of US$600 million in aggregate principal amount of 6.50% convertible senior notes due 2028 (the "Notes").

Key Points: 
  • BEIJING, March 7, 2023 /PRNewswire/ -- iQIYI, Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced the closing of its offering (the "Notes Offering") of US$600 million in aggregate principal amount of 6.50% convertible senior notes due 2028 (the "Notes").
  • The Notes will mature on March 15, 2028, unless repurchased, redeemed or converted in accordance with the terms of the Notes prior to such date.
  • The Company intends to use the net proceeds from the Notes Offering for repayment and/or repurchase of the existing debt securities.
  • The terms of each Repurchase Transaction have been privately negotiated with each holder of the Existing Notes individually.

iQIYI, Inc. 2022 Letter to Investors

Retrieved on: 
Wednesday, February 22, 2023

Nevertheless, 2022 was a year of breakthroughs, a miraculous year for iQIYI, as we completed an iconic turnaround under extremely volatile market conditions.

Key Points: 
  • Nevertheless, 2022 was a year of breakthroughs, a miraculous year for iQIYI, as we completed an iconic turnaround under extremely volatile market conditions.
  • The number of subscribing members as of the end of December 2022 was 119.7 million, representing a net addition of over 13 million compared with the end of September 2022.
  • Our non-GAAP operating income reached RMB2.2 billion in 2022, a sharp reversal from a loss of RMB3.0 billion in 2021.
  • As of 2022, we have launched 7 dramas altogether in our operating history with an iQIYI popularity index of over 10,000, with 5 of the releases in 2022.

iQIYI Announces Fourth Quarter and Fiscal Year 2022 Financial Results

Retrieved on: 
Wednesday, February 22, 2023

The monthly average revenue per membership (ARM[5]) for the quarter was RMB14.17, compared to RMB14.16 for the same period in 2021 and RMB13.90 for the third quarter in 2022.

Key Points: 
  • The monthly average revenue per membership (ARM[5]) for the quarter was RMB14.17, compared to RMB14.16 for the same period in 2021 and RMB13.90 for the third quarter in 2022.
  • Diluted net income attributable to iQIYI per ADS was RMB0.35 (US$0.05) for the fourth quarter of 2022, compared to diluted net loss attributable to iQIYI per ADS of RMB2.24 in the same period of 2021.
  • Net loss attributable to iQIYI was RMB136.2 million (US$19.7 million), compared to net loss attributable to iQIYI of RMB6.2 billion in 2021.
  • It will automatically direct you to the registration page of "iQIYI Fourth Quarter and Fiscal Year 2022 Earnings Conference Call", where you may fill in your details for RSVP.

Baidu Announces Fourth Quarter and Fiscal Year 2022 Results

Retrieved on: 
Wednesday, February 22, 2023

1 AI Cloud provider, according to IDC's first half of 2022 report on China's public cloud market for the fourth consecutive year.

Key Points: 
  • 1 AI Cloud provider, according to IDC's first half of 2022 report on China's public cloud market for the fourth consecutive year.
  • Apollo Go, Baidu's autonomous ride-hailing service, provided 561K rides in the fourth quarter of 2022, up 162% year over year.
  • Managed Page accounted for 45% of Baidu Core's online marketing revenue in the fourth quarter of 2022.
  • iQIYI's average daily number of total subscribing members for the quarter was 111.6 million, compared to 97.0 million for the fourth quarter of 2021 and 101.0 million for the third quarter of 2022.

Aurora Mobile Partners with Baidu ERNIE Bot to Develop a Full Range of AI-Driven Interactive Marketing Products

Retrieved on: 
Tuesday, February 21, 2023

The Company will access ERNIE Bot and apply Baidu’s leading intelligent dialogue technology in its customer engagement and marketing technology services.

Key Points: 
  • The Company will access ERNIE Bot and apply Baidu’s leading intelligent dialogue technology in its customer engagement and marketing technology services.
  • This initiative is an additional step in Aurora Mobile's implementation of its AI-driven strategy with the support and empowerment of leading AI chatbot technologies.
  • In the future, enterprises will be able to use ERNIE Bot service through Baidu Smart Cloud to empower various applications.
  • As an ecosystem partner, Aurora Mobile will be given priority for internal testing with ERNIE Bot and will integrate ERNIE Bot in its products.

iQIYI Launches First All-Immersive Entertainment Experience The Luoyang VR Project in Shanghai

Retrieved on: 
Monday, February 20, 2023

BEIJING, Feb. 20, 2023 /PRNewswire/ -- iQIYI, an innovative market-leading online entertainment service in China, officially unveiled its Luoyang Virtual Reality (VR) Project in Shanghai on Feb. 18, showcasing the industry's first-ever all-immersive entertainment experience which incorporates VR technologies, original IP-based plotlines, and immersive theatre.

Key Points: 
  • BEIJING, Feb. 20, 2023 /PRNewswire/ -- iQIYI, an innovative market-leading online entertainment service in China, officially unveiled its Luoyang Virtual Reality (VR) Project in Shanghai on Feb. 18, showcasing the industry's first-ever all-immersive entertainment experience which incorporates VR technologies, original IP-based plotlines, and immersive theatre.
  • The project marks the first attempt in the VR industry to integrate different elements from immersive theatre, VR, and original IP.
  • iQIYI first entered the field of offline VR entertainment in 2018, and, in 2020, established the production studio DREAMVERSE to focus on curating VR projects and all-immersive experiences.
  • DREAMVERSE has since launched a series of popular offline VR projects, and the Luoyang VR Project marks its latest hit.