iQIYI(US:IQ) Sou Hu Cai Jing·2025-08-06 14:46Group 1 - iQIYI is likely seeking to raise $300 million through a secondary listing in Hong Kong this year, with discussions already underway with international investment banks [2] - The Hong Kong IPO market has seen a resurgence, with total fundraising reaching HKD 106.7 billion, surpassing the total for the entire year of 2024 [2] - 27 Chinese concept stocks, including iQIYI, meet the criteria for a secondary listing in Hong Kong, as noted by a strategist from Goldman Sachs [2] Group 2 - iQIYI's total revenue for fiscal year 2024 was CNY 29.23 billion, a decline of 8% year-over-year, with net profit dropping to CNY 760 million from CNY 1.93 billion [3] - In Q1 2025, iQIYI reported total revenue of CNY 7.19 billion, down 9% year-over-year, and net profit of CNY 182.1 million, compared to CNY 655.3 million in the same period last year [3] - iQIYI's CEO mentioned that the company's Q1 performance showed signs of improvement, with total revenue and operating profit increasing by 9% and 20% quarter-over-quarter, respectively [3]