2024 年 7 月 29 日 CMB 国际全球市场 | 股票研究 | 公司更新 爱奇艺 (IQ US) 24 年第二季度的天气短期逆风 ； 关注 2H24E 复苏 爱奇艺将于 8 月 22 日公布第二季度业绩。我们预测 2Q24 总收入将同比下降 5%，至 74 亿 元人民币，这是由于某些剧集的表现不佳以及综艺节目的数量同比下降。我们预计非 GAAP 营业利润将同比下降 36%，至 5.03 亿元人民币，尽管内容成本和营业支出同比基本持平。尽 管如此，我们预计在优质内容管道的推动下，总收入和利润将在下半年逐步恢复。鉴于竞争激 烈且某些内容的表现低于预期，我们将 FY24 - 26E 非 GAAP 净收入预测下调至 2.8 / 3.3 / 40 亿元人民币 （ 前值 ： 3.7 / 4.2 / 45 亿元人民币 ） 。我们的目标价格为 6.40 美元，基于 FY24E 的 16 倍 PE （ 先前 ： 8.6 美元，基于 FY24E 的 16 倍 PE ） 。我们以买入评级转移 超额。 会员业务在第二季度面临压力。我们预计 2Q24E 的会员收入将同比下降 8%，至 45 亿元人 民币，主要原因是某些剧集的表 ...

交银国际研究 公司更新 互联网 2024 年 7 月 22 日 收盘价 目标价 潜在涨幅 美元 3.50 美元 4.20↓ +20.0% 爱奇艺 (IQ US) 2 季度业绩预览:下调收入及利润预期,会员数或于 2 季度触底 下调 2024 年 2 季度收入及利润预期:我们下调 2 季度收入预期 4%至 74 亿 元(人民币,下同),同比降 5%,主要因会员及广告收入或受内容影响 而低于预期,同时我们相应下调经调整净利润至 2.4 亿元(低于彭博预期 的 4.8 亿元),对应经调整净利率 3%,同比降 5 个百分点。 重点剧集不及预期,会员收入或低于此前预期。根据爱奇艺官网数据(图 表 1),上半年爱奇艺重点剧集播放热度低于去年同期,站内热度值破万 剧集仅《追风者》一部。从云合 TOP20 剧集播放份额看,爱奇艺降至 20%,低于腾讯视频/优酷。考虑《狐妖小红娘》、《颜心记》等重点剧集 播放不及预期,我们下调 2 季度会员收入 5% 至 45 亿元,同比降 9%,环 比降 6%。下半年,鉴于《错位》、《唐朝诡事录 2》等新剧热度表现不 俗,我们预计会员收入恢复环比增长。上半年剧集疲软表现显示单平台内 容成功率 ...

Recognized as Promotion Partner by WWF ChinaBEIJING, July 18, 2024 /PRNewswire/ -- On July 13, iQIYI, a leading online entertainment service in China, concluded the second season of its hit variety show Become a Farmer to rapturous reviews. The show, which immerses a group of urban youth into the realities of agricultural life, earned a Best Variety Show nomination at the 29th Shanghai TV Festival for the second consecutive year, highlighting iQIYI's success in delivering innovative content.The show's commi ...

BEIJING, July 17, 2024 (GLOBE NEWSWIRE) -- iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced that it will report its financial results for the second quarter ended June 30, 2024 before the U.S. market opens on August 22, 2024. iQIYI's management will hold an earnings conference call at 7:00 AM on August 22, 2024, U.S. Eastern Time (7:00 PM on August 22, 2024, Beijing Time). Please register in advance of the conference usi ...

BEIJING, July 17, 2024 (GLOBE NEWSWIRE) -- iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), a leading provider of online entertainment video services in China, today announced that it will report its financial results for the second quarter ended June 30, 2024 before the U.S. market opens on August 22, 2024. iQIYI’s management will hold an earnings conference call at 7:00 AM on August 22, 2024, U.S. Eastern Time (7:00 PM on August 22, 2024, Beijing Time). Please register in advance of the conference usi ...

Core Points - Direct Communication Solutions, Inc. (DCS) has initiated legal action against AirIQ for breach of contract and breach of confidence [1] - DCS previously filed a lawsuit in California against Michael Lawless, a former executive, for breach of fiduciary duty and contract [1] - DCS emphasizes the importance of its technical and innovative solutions for future growth in the IoT industry [1] - DCS has engaged legal representation from Lewis Kohn & Walker LLP for the California case and Cassels Brock & Blackwell LLP for the Ontario case [2] Company Overview - DCS is a technology solutions integrator focused on the Internet of Things, providing software applications and scalable cloud services [3] - The company is headquartered in San Diego, California, and is publicly traded on multiple exchanges including OTC Pink, Canadian Securities Exchange, and Frankfurt Stock Exchange [3]

Announcing Expansion in Brazil with More Portuguese OfferingsBEIJING, June 28, 2024 /PRNewswire/ -- On June 27, iQIYI, an innovative market-leading online entertainment service in China, concluded its fourth Annual Content Showcase virtually in North America, unveiling an impressive lineup of over 250 new Asian shows. The company also announced the expansion of its operations in Brazil, offering a wide range of Asian content with Portuguese subtitles to Brazilian viewers, along with enhanced content curatio ...

Upcoming Overseas Expansions Include Dubai and BangkokBEIJING, June 24, 2024 /PRNewswire/ -- On June 19, iQIYI, a leading online entertainment service in China, announced plans to launch VR location based experiences across major Chinese cities this summer, with global expansion to follow. The initiative aims to expand into offline commercial spaces and cultural tourism market, according to Hang ZHANG, Senior Vice President of iQIYI, highlighting the company's innovative use of technology to transform IPs i ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors rely on traditional forms of analysis on key valuati ...

BEIJING, June 7, 2024 /PRNewswire/ -- On June 5, iQIYI, a leading online entertainment service in China, hosted the fourth annual Golden Screenwriters' Night, celebrating outstanding screenwriters and their remarkable works. This year's event honored 32 screenwriters and 15 exceptional works across drama series, film, and animation, highlighting iQIYI's dedication to fostering original content and nurturing talent.A distinguished panel of 15 judges from the screenwriting, directing, acting, and academic com ...