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 ...

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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 ...

BEIJING, May 28, 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 is notifying holders of its 4.00% Convertible Senior Notes due 2026 (CUSIP No. 46267XAE8) (the "Notes") that pursuant to the Indenture and the First Supplemental Indenture, each dated as of December 21, 2020 (together, the "Indenture") relating to the Notes by and between the Company and Citicorp International Limited, as tr ...

BEIJING, May 28, 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 is notifying holders of its 4.00% Convertible Senior Notes due 2026 (CUSIP No. 46267XAE8) (the "Notes") that pursuant to the Indenture and the First Supplemental Indenture, each dated as of December 21, 2020 (together, the "Indenture") relating to the Notes by and between the Company and Citicorp International Limited, as t ...

Investment Rating - Buy (First Coverage) [1] Core Views - The company's ARM (Average Revenue per Member) has grown for six consecutive quarters, reaching a historical high in 2024Q1 [2] - The company's content distribution revenue reached a historical high in 2024Q1, indicating strong content production capabilities [2] - The company's market share in key content categories continues to lead, with over 70% of new programs being original content [2] - The company's non-GAAP operating profit margin improved by 2 percentage points year-over-year to 14% in 2024Q1 [5] Business Performance - Total revenue for 2024Q1 decreased by 5% year-over-year to RMB 7.9 billion (USD 1.1 billion) [5] - Membership service revenue decreased by 13% year-over-year to RMB 4.8 billion (USD 660 million) in 2024Q1, mainly due to a high base effect from the previous year [2] - Online advertising service revenue increased by 6% year-over-year to RMB 1.5 billion (USD 210 million) in 2024Q1, driven by growth in performance advertising [2] - Content distribution revenue increased by 28% year-over-year to RMB 930 million (USD 130 million) in 2024Q1 [2] - Other revenue increased by 7% year-over-year to RMB 720 million (USD 100 million) in 2024Q1, mainly due to increased revenue from third-party collaborations [2] Content Strategy - The company has a diversified and high-quality content portfolio, with over 70% of new programs being original content [2] - Key programs such as "Chasing the Wind" and "Southbound and Northbound" have achieved significant market share and viewership records [2] - The company continues to innovate in content categories such as movies, variety shows, children's programs, and animation [2] Financial Forecast - Non-GAAP net profit attributable to the parent company is expected to be RMB 3.12 billion, RMB 3.80 billion, and RMB 4.45 billion for 2024, 2025, and 2026, respectively [2] - The current stock price corresponds to a PE ratio of 10x, 9x, and 7x for 2024, 2025, and 2026, respectively [2] Cost and Profitability - Operating costs decreased by 5% year-over-year to RMB 5.6 billion (USD 780 million) in 2024Q1, with content costs also decreasing by 5% to RMB 4.0 billion (USD 550 million) [15] - Non-GAAP operating profit increased by 5% year-over-year to RMB 1.1 billion (USD 150 million) in 2024Q1 [16] - The company generated positive operating cash flow for eight consecutive quarters, with free cash flow of RMB 920 million (USD 130 million) in 2024Q1 [16] Content Pipeline - The company has a rich content pipeline for 2024-2025, including dramas, variety shows, and movies, with a focus on original and high-quality content [12][13][14]

BEIJING, May 23, 2024 /PRNewswire/ -- On May 20, iQIYI, a leading online entertainment service in China, announced the upcoming launch of a VR immersive theater at first floor of Galaxy Promenade in Galaxy Macau this summer, adapted from its hit series Love Between Fairy and Devil, showcasing iQIYI's commitment to expanding location-based entertainment through its unique blend of 'IP+ Technology.' Poster of iQIYI VR immersive theater 'Love Between Fairy and Devil'Poster of iQIYI VR immersive theater 'Love B ...