iQIYI Makes 2019 Forbes China Most Innovative Companies List

BEIJING, June 12, 2019 /PRNewswire/ -- iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment company in China, announced that it has been featured by Forbes China in the "2019 Forbes China Most Innovative Companies" List (the "List"). The announcement was made at the 2019 Forbes China Innovation Summit held on June 10^th in Chengdu with the theme of "Global New Innovation Technology".

The List, jointly compiled by Forbes China and renowned Chinese data analysis firm Analysys, features companies from 14 major industries including entertainment, retail, smart homes, online education, logistics, cloud computing, robotics and fin-tech, which were selected from a candidate pool of nearly 200 companies. The List's focus on innovation establishes it as an authoritative platform to discover and cultivate creative industry leaders of different fields that represents China's innovative spirit. Aside from iQIYI, companies featured on the List include Xiaomi, Ant Financial and Haier among others.

"In the perspective of globalization, the entertainment industry is gradually growing more and more in the direction of highly qualified, diversified multi-media development," commented He Yunpeng, Senior Vice President of iQIYI. "Technology and innovation are becoming an inexhaustible driving force for enterprise development. In the future, iQIYI, with its strong innovative genes, will continue to bring new and improved entertainment experiences to the market and its users."

In addition to He Yunpeng, Andrew Wu, LVMH Group President of Greater China, Zhang Wen, President of SenseTime, Gan Jianping, Managing Partner of Qiming Venture Partners and many more industry elites attended the summit.

Since its establishment nine years ago, iQIYI has always valued creative development and has laid a solid foundation for innovation in many aspects such as production, distribution, and monetization. In terms of content, iQIYI is the leading company in offering content that caters to a wide variety of genres and topics. In 2019, iQIYI launched variety shows Youth with You and CZR, as well as the highly acclaimed original crime drama The Thunder. From the earliest innovations like implementing membership payment, building a content-sharing business model, and continuing to improve the broadcast function, to the latest innovations like replacing the conventional view count system with the new "content popularity index" system and creating the first professional vertical video content in the industry, iQIYI drives the video streaming industry forward by consistently pushing the status quo to new limits.

iQIYI has also made great technological advancements by, for example, setting the first interactive video guideline in the industry at the 2019 iQIYI World Conference held in May. In terms of business model innovation, iQIYI officially announced their original film plan: through private investments, collaborative production and theatre distribution, there will be mutual support and cooperation between the production and distribution side. As a technology-driven entertainment company, innovation is at the core of iQIYI. These innovative genes are projected through its content creation, product development, platform structure, and many other aspects of the company as it continuously strives to produce a high-quality entertainment experience for users.

At the 2019 Forbes China Innovation Summit, He Yunpeng, Senior Vice President of iQIYI, spoke at a roundtable discussion on the topic of "What is next in the entertainment business?". He said, "In the future, iQIYI will continue to maintain the prestige of industry leaders, improve on platform structures, promote the continuous development of the industry, and lead the online video streaming industry in new directions." iQIYI's recognition in this influential list is strong evidence that the company is continuing to push forward the development of the Chinese entertainment industry. 

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About iQIYI, Inc.

iQIYI, Inc. (NASDAQ: IQ) ("iQIYI" or the "Company") is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI's platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, partner-generated content and user-generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, live broadcasting, online games, IP licensing, online literature and e-commerce. For more information on iQIYI, please visit http://ir.iqiyi.com.

SOURCE iQIYI, Inc.