iQIYI, Inc. Files 20-F Annual Report for Fiscal Year 2023

TL;DR

<b>iQIYI, Inc. has submitted its annual 20-F report for the fiscal year 2023, detailing its financial performance and corporate information.</b>

AI Summary

iQIYI, Inc. (IQ) filed a Foreign Annual Report (20-F) with the SEC on March 14, 2024. iQIYI, Inc. filed its 20-F annual report for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located in Beijing, China. iQIYI, Inc. was formerly known as Qiyi.com, Inc., with a name change effective November 14, 2017. The filing includes references to various financial statement line items and accounting standards.

Why It Matters

For investors and stakeholders tracking iQIYI, Inc., this filing contains several important signals. This 20-F filing provides a comprehensive overview of iQIYI's financial health and operational status for the past fiscal year, which is crucial for investors to assess the company's performance and future prospects. As a key disclosure for foreign private issuers, this report offers insights into the company's business, risks, and financial statements, enabling stakeholders to make informed investment decisions.

Risk Assessment

Risk Level: low — iQIYI, Inc. shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain new material events or significant financial shifts that would indicate elevated risk.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 20-F to understand iQIYI's performance and strategic direction for 2024.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-14 — Filing Date (Filed as of date)

Key Players & Entities

• iQIYI, Inc. (company) — Filer name
• Qiyi.com, Inc. (company) — Former company name
• Beijing (location) — Business address city
• 2023-12-31 (date) — Fiscal year end
• 2024-03-14 (date) — Filing date

FAQ

Industry Context

iQIYI, Inc. operates in the online entertainment and video streaming industry, a sector characterized by high competition and evolving content consumption patterns.

Regulatory Implications

As a foreign private issuer, iQIYI, Inc. is subject to SEC regulations, including the requirement to file annual reports on Form 20-F, which provides a standardized disclosure framework for international companies.

What Investors Should Do

1. Review iQIYI's detailed financial statements for FY2023.
2. Analyze the risk factors section for potential business challenges.
3. Compare FY2023 performance against previous years and industry benchmarks.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 20-F filing.
• 2024-03-14: Filing Date — Date the 20-F report was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is the annual 20-F report for the fiscal year 2023, succeeding previous filings which would have covered earlier periods.

Key Financial Figures

• $0.00001 — n Class A ordinary shares par value US$0.00001 per share IQ The Nasdaq Stock Marke
• $ — g principles in the United States; "US$," " U.S. dollars ," "$," and "dollars"
• $1 — were made at the rate at RMB7.0999 to US$1.00, the exchange rate as set forth in t

Filing Documents

• iq-20231231.htm (20-F) — 7395KB
• iq-ex4_74.htm (EX-4.74) — 282KB
• iq-ex4_75.htm (EX-4.75) — 140KB
• iq-ex4_76.htm (EX-4.76) — 76KB
• iq-ex4_77.htm (EX-4.77) — 57KB
• iq-ex4_78.htm (EX-4.78) — 57KB
• iq-ex4_79.htm (EX-4.79) — 54KB
• iq-ex4_80.htm (EX-4.80) — 84KB
• iq-ex4_81.htm (EX-4.81) — 17KB
• iq-ex4_82.htm (EX-4.82) — 16KB
• iq-ex4_83.htm (EX-4.83) — 17KB
• iq-ex4_84.htm (EX-4.84) — 16KB
• iq-ex4_85.htm (EX-4.85) — 7KB
• iq-ex4_86.htm (EX-4.86) — 7KB
• iq-ex8_1.htm (EX-8.1) — 13KB
• iq-ex12_1.htm (EX-12.1) — 15KB
• iq-ex12_2.htm (EX-12.2) — 15KB
• iq-ex13_1.htm (EX-13.1) — 7KB
• iq-ex13_2.htm (EX-13.2) — 7KB
• iq-ex15_1.htm (EX-15.1) — 28KB
• iq-ex15_2.htm (EX-15.2) — 7KB
• iq-ex15_3.htm (EX-15.3) — 4KB
• iq-ex97_1.htm (EX-97.1) — 45KB
• img17955649_0.jpg (GRAPHIC) — 4KB
• img18879170_0.jpg (GRAPHIC) — 6KB
• img41932597_0.jpg (GRAPHIC) — 38KB
• img41932597_1.jpg (GRAPHIC) — 35KB
• img60664003_0.jpg (GRAPHIC) — 1236KB
• img60664003_1.jpg (GRAPHIC) — 1KB
• img60664003_2.jpg (GRAPHIC) — 1KB
• img60664003_3.jpg (GRAPHIC) — 1KB
• img60664003_4.jpg (GRAPHIC) — 1236KB
• img60664003_5.jpg (GRAPHIC) — 1KB
• 0000950170-24-031129.txt (&nbsp;) — 34954KB
• iq-20231231.xsd (EX-101.SCH) — 3185KB
• iq-20231231_htm.xml (XML) — 6333KB

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 163 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 164 PART II. 167 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 167 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 167 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 167 ITEM 16. [RESERVED] 168 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 168 ITEM 16B. CODE OF ETHICS 168 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 168 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 169 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 169 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 169 ITEM 16G. CORPORATE GOVERNANCE 169 ITEM 16H. MINE SAFETY DISCLOSURE 170 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 170 ITEM 16J. INSIDER TRADING POLICIES 170 ITEM 16K. CYBERSECURITY 170 PART III 172 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 172 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 172 ITEM 19. EXHIBITS 172

SIGNATURES

SIGNATURES 178 IN TRODUCTION Unless otherwise indicated and except where the context otherwise requires, references in this annual report to: " ADSs " refers to our American depositary shares, each of which represents seven Class A ordinary shares; " AI " refers to artificial intelligence; "average daily number of total subscribing members" for a given period is calculated by averaging the number of total subscribing members, including individuals with trial membership, in each day of such period; "average daily number of subscribing members excluding individuals with trial memberships" for a given period is calculated by averaging the number of subscribing members excluding individuals with trial memberships in each day of such period; " Baidu " refers to Baidu, Inc., our parent company and controlling shareholder; "bullet chat," known as Danmu in Chinese, refers to a form of video commentary used on online videos. Bullet chats are comments that appear directly on the video in real-time; "China" or the "PRC" refers to the People's Republic of China, including Hong Kong, Macau and Taiwan, and "mainland China" refers to the People's Republic of China, excluding Hong Kong, Macau and Taiwan; "IP" refers to intellectual property; "IT" refers to information technology; " monthly ARM " refers to average revenue per membership during a month. Monthly ARM is calculated by dividing our total revenues from membership services during a given period by the average daily number of total subscribing members and by the number of months during such period; " RMB " and " Renminbi " refer to the legal currency of mainland China; "shares" or "ordinary shares" refers to our Class A and Class B ordinary shares, par value $0.00001 per share; "subscribing members" refers to the individuals who subscribed for our membership packages during a given period, including individuals with trial memberships, and excluding individuals who pay for video on-demand serv

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

O FFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. O FFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

K ey Information

ITEM 3. K ey Information Our Holding Company Structure and Contractual Arrangements with the Variable Interest Entities iQIYI, Inc. is not a Chinese operating company, but rather a Cayman Islands holding company with no equity ownership in the variable interest entities. Our Cayman Islands holding company does not conduct business operations directly. We conduct our operations in mainland China through (i) our mainland China subsidiaries, which primarily include Beijing QIYI Century Science and Technology Co., Ltd., or Beijing QIYI Century, and Beijing iQIYI Interactive Technology Co., Ltd., and (ii) the variable interest entities with which we have maintained contractual arrangements, namely Beijing iQIYI Science & Technology Co., Ltd. (" Beijing iQIYI "), Shanghai iQIYI Culture Media Co., Ltd. ("Shanghai iQIYI"), Shanghai Zhong Yuan Network Co., Ltd. (" Shanghai Zhong Yuan "), iQIYI Pictures (Beijing) Co., Ltd. ("iQIYI Pictures"), Beijing iQIYI Intelligent Entertainment Technology Co., Ltd., ("Intelligent Entertainment") and Beijing iQIYI Yinhua Media Co., Ltd. ("iQIYI Yinhua"), and their subsidiaries in mainland China. The contractual arrangements may not be as effective as direct equity ownership in the variable interest entities, and the government authorities may challenge the enforceability of these contractual arrangements. PRC laws and regulations impose certain restrictions or prohibitions on foreign ownership of companies that engage in certain value-added telecommunication services, internet audio-video program services, production and operation of radio and television programs and certain other businesses. Accordingly, we operate these businesses in mainland China through the variable interest entities and their subsidiaries, and rely on contractual arrangements among our mainland China subsidiaries, the variable interest entities and their nominee shareholders to control the business operations of the variable interest entities. The variable intere

View Full Filing

View this 20-F filing on SEC EDGAR