BEIJING, April 7, 2020 /PRNewswire/ -- iQIYI,
Inc. (Nasdaq: IQ) ("iQIYI" or the "Company"), an innovative
market-leading online entertainment service in China, today
issued the following statement in response to allegations made in a
report by Wolfpack Research.
The Company has been made aware of and reviewed the short seller
report published by Wolfpack Research on April 7, 2020. The Company believes that the
report contains numerous errors, unsubstantiated statements and
misleading conclusions and interpretations regarding information
relating to the Company.
The Company emphasizes that it has always been and will remain
committed to maintaining high standards of corporate governance and
internal control, as well as transparent and timely disclosure in
compliance with the applicable rules and regulations of the
Securities and Exchange Commission and the Nasdaq Global Select
Market.
About iQIYI, Inc.
iQIYI, Inc. 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, professional user 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, online games, live broadcasting, IP licensing, talent
agency, online literature and e-commerce etc.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. iQIYI
may also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission, in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including but not limited to statements about
iQIYI's beliefs and expectations, are forward-looking statements.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement. Further information regarding such risks is included in
the Company's filings with the Securities and Exchange Commission.
All information provided in this press release and in the
attachments is as of the date of the press release, and iQIYI
undertakes no duty to update such information, except as required
under applicable law.
For more information, please contact:
Investor Relations
iQIYI, Inc.
+86 10 8264 6585
ir@qiyi.com
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SOURCE iQIYI, Inc.