iQIYI(US:IQ) Xin Lang Cai Jing·2025-12-29 01:25Core Viewpoint - The recent controversy surrounding a consumer's difficulty in obtaining a refund for a long-term iQIYI membership highlights ongoing issues with the platform's pricing strategies and customer service practices [2][3][6]. Group 1: Refund Issues - A consumer discovered that his iQIYI membership was charged for 25 years, leading to difficulties in obtaining a refund due to account issues [2][3]. - iQIYI initially stated that refunds for virtual products are generally not allowed, but later agreed to process the refund after public attention increased [3][17]. - Discrepancies arose regarding the refund process, particularly concerning the original payment method, which the consumer claimed was no longer accessible [3][17][18]. Group 2: Consumer Sentiment - Consumers have expressed frustration over iQIYI's membership pricing and service changes, describing the platform's pricing strategies as convoluted and unsatisfactory [6][20]. - There is a perception that iQIYI's membership benefits have diminished over time, with complaints about reduced streaming quality and increased fees for additional content [6][21][23]. Group 3: Financial Performance - iQIYI has reported a decline in revenue, with 2024 revenue dropping to 29.23 billion RMB, an 8% decrease from 2023, and a significant drop in membership service income [11][26]. - The company's net profit fell by 60% in 2024, indicating severe pressure on profitability, with operating profit decreasing by 39% [12][26]. - The third quarter of 2025 showed a continued downward trend, with total revenue of 6.68 billion RMB, an 8% year-on-year decline, and a net loss of nearly 250 million RMB [27].