Securities Times Network February 28th
According to Caixin, iQiyi submitted a prospectus on February 28th, Beijing time, applying for listing on the Nasdaq Stock Market, and plans to raise 1.5 billion US dollars. The prospectus shows that iQIYI’s total revenue for 2017 is 2.617 billion US dollars (about 17.378 billion yuan), an increase of 54.6% compared with 2016; the net loss for the year was 3.736 billion yuan, and the net losses in 2015 and 2016 were 2.575 billion yuan and 3.074 billion yuan respectively. In addition, iQiyi disclosed that Baidu currently holds 69.6% of the shares, which is the largest shareholder of iQiyi; Xiaomi holds 8.4% of the shares; Aiqiyi founder and CEO Gong Yu holds 1.8%.
(Securities Times News Center)
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