Financial Data and Key Metrics Changes - In Q4 2021, total revenues reached RMB7.4 billion, with membership services revenue increasing by 7% year-over-year, primarily driven by the growth of Average Revenue per Membership (ARM) [32][33] - The non-GAAP operating loss decreased significantly by 45% year-over-year and 52% sequentially, from RMB941 million to RMB516 million [33][34] - As of December 31, 2021, the company had cash, cash equivalents, restricted cash, and short-term investments totaling RMB4.4 billion [34] Business Segment Performance - Membership revenue grew by 7% annually, with monthly ARM increasing to RMB14.16, up 14% year-over-year and 4% sequentially [10][32] - The overseas business saw significant growth, with average daily active users (DAU) tripling year-over-year and membership revenue growing over 40% sequentially in Q4 [14][15] - Advertising revenue decreased by 10% year-over-year in Q4, primarily due to a decline in brand ads, while performance ads achieved steady growth [17][18] Market Data and Key Metrics Changes - The average daily number of subscribing members in Q4 was 97 million, down from 102.7 million in Q4 2020 and 104.7 million in Q3 2021 [12] - The user base in overseas markets, particularly in Thailand, grew nearly 700%, with many regions exceeding 100% growth [14][15] Company Strategy and Industry Competition - The company is focusing on improving operational efficiency and profitability, shifting from quantity to quality in content production [7][9] - The competitive landscape is evolving towards a focus on operational efficiency rather than market share, which is seen as a healthier approach for the industry [42] - The company aims to reach non-GAAP operating breakeven for the full year of 2022 and quarterly breakeven as soon as possible [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving further improvements in both GAAP and non-GAAP operating losses in 2022, driven by cost optimization initiatives [34] - The regulatory environment is perceived as relatively stable, allowing for better comprehension of content production boundaries [43] - Management highlighted the importance of long-form video content as a core need for users, indicating a positive outlook for future revenue growth [48] Other Important Information - The company has optimized its organizational structure to enhance focus on core business and improve operational efficiency [30] - The content-related cost ratio improved by over 20 percentage points annually, reflecting better operating efficiency [19] Q&A Session Summary Question: How has the company managed to lower operating losses? - Management elaborated on proactive adjustments in operating strategy, focusing on cost optimization and improving operational efficiency, which led to a significant reduction in operating losses [36][37] Question: What changes are anticipated in the competitive landscape for 2022? - Management noted a shift towards efficiency in the online video industry, moving away from a focus on quantity, which is expected to create a healthier competitive environment [41][42] Question: What is the outlook for membership growth? - Management acknowledged pressures on membership growth due to COVID-19, regulatory uncertainties, and production capabilities, but emphasized the long-term importance of long-form video content [46][48]

iQIYI, Inc. (NASDAQ:IQ) Q3 2021 Earnings Conference Call November 17, 2021 6:30 AM ET Company Participants Tim Gong Yu - CEO Chang You - IR Xiaodong Wang - CFO Xiaohui Wang - COO Wenfeng Liu - CTO Xianghua Yang - SVP Conference Call Participants Ella Ji - China Renassaince Alicia Yap - Citigroup Thomas Chong - Jefferies (Transcript provided to Seeking Alpha by the company.) Operator Good day and thank you for standing by. Welcome to the iQIYI Third Quarter 2021 Earnings Conference Call. At this time, all pa ...

iQIYI, Inc. (NASDAQ:IQ) Q2 2021 Earnings Conference Call August 12, 2021 7:00 AM ET Company Participants Fan Liu – Head of Capital Market of iQIYI Tim Gong Yu – Founder and Chief Executive Officer Xiaodong Wang – Chief Financial Officer Conference Call Participants Ella Ji – China Renassaince Merrill Lynch – Bank of America Alicia Yap – Citigroup Piyush Mubayi – Goldman Sachs Operator Good day and thank you for standing by. Welcome to iQIYI Second Quarter 2021 Earnings Conference Call. At this time, all par ...

iQIYI Inc (NASDAQ:IQ) Q1 2021 Earnings Conference Call May 18, 2021 7:00 AM ET Company Participants Fan Liu - IR Tim Gong Yu - Founder, CEO & Director Xianghua Yang - President of Membership & Overseas Business Group Xiaodong Wang - CFO Conference Call Participants Alex Ko - Morgan Stanley Eddie Leung - BofA Securities Piyush Mubayi - Goldman Sachs Group, Inc. Thomas Chong - Jefferies LLC Zhijing Liu - UBS Investment Bank (Transcript provided to Seeking Alpha by the company.) Operator Good day, and thank y ...

iQIYI, Inc. (NASDAQ:IQ) Q4 2020 Earnings Conference Call February 17, 2021 7:00 PM ET Company Participants Fan Liu - Investor Relations Yu Gong - Founder and Chief Executive Officer Xiaodong Wang - Chief Financial Officer Xianghua Yang - Senior Vice President of our Membership Business Conference Call Participants Thomas Chong - Jefferies Eddie Leung - Bank of America Merrill Lynch Yiwen Zhang - Citi Alex Xie - Crédit Suisse Zhijing Liu - UBS Updated Transcript Provided by The Company Operator Ladies and ge ...

IQIYI, Inc. (NASDAQ:IQ) Q3 2020 Earnings Conference Call November 16, 2020 7:00 PM ET Company Participants Lei Zhang - IR Yu Gong - Founder, CEO & Director Xiaodong Wang - CFO Xianghua Yang - President, Membership & Overseas Business Group Conference Call Participants Eddie Leung - Bank of America Merrill Lynch Yiwen Zhang - Citigroup Thomas Chong - Jefferies Gary Yu - Morgan Stanley Alex Xie - Crédit Suisse Zhijing Liu - UBS Investment Bank Bo Pei - Oppenheimer Binnie Wong - HSBC Operator Ladies and gentle ...

iQIYI, Inc. (NASDAQ:IQ) Q2 2020 Results Conference Call August 13, 2020 8:00 PM ET Company Participants Lei Zhang - Investor Relations Tim Gong - Chief Executive Officer Xiaodong Wang - Chief Financial Officer Xianghua Yang - President of Membership & Overseas Business Group Xiaohui Wang - Chief Content Officer Conference Call Participants Wendy Chen - Goldman Sachs Thomas Chong - Jefferies Alicia Yap - Citigroup Billy Leung - Haitong International Tian Hou - T.H. Capital Bo Pei - Oppenheimer Ella Ji - Ch ...

IQIYI, Inc. (NASDAQ:IQ) Q1 2020 Earnings Conference Call May 18, 2020 8:00 PM ET Company Participants Dahlia Wei - Director of IR Tim Gong - Founder, CEO & Director Xianghua Yang - SVP Xiaodong Wang - CFO Conference Call Participants Diying Ji - China Renaissance Securities Eddie Leung - BofA Merrill Lynch Thomas Chong - Jefferies LLC Wai Yan Wong - HSBC Yik Wah Yap - Citigroup Inc Zhi Yi Chen - Goldman Sachs Group Presentation Operator Ladies and gentlemen, thank you for standing by, and welcome ...