LONDON, UK / ACCESSWIRE / July 19, 2018 / If you want access to our free research report on iQIYI, Inc. (NASDAQ: IQ), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=IQ as the Company?s latest news hit the wire. On July 17, 2018, the Company announced that it has inked a deal to acquire 100% equity stake in mobile game publisher, Skymoons Inc. and Chengdu Skymoons Digital Entertainment Co., Ltd, for a fixed payment of RMB1.27 billion. An additional consideration valued at RMB730 million is to be paid in the next two years if Skymoons satisfies the agreed-upon performance benchmarks. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Acquisition will Strengthen iQIYI?s Media Platform and its Overall Ecosystem

Commenting on the acquisition, Dr. Yu Gong, Founder and Chief Executive Officer (CEO) of iQIYI, stated that the Company is pleased to welcome Skymoons into the iQIYI family, as it further broadens its comprehensive offering of entertainment content across multiple formats. iQIYI has always been pursuing a diversified monetization model that fully leverages the IP value in its content. Dr. Gong further added that he believes that Skymoons is a natural extension to iQIYI?s business and will strengthen iQIYI?s media platform and its overall ecosystem.

iQIYI Made Changes to its Board Composition

On June 14, 2018, iQIYI announced changes to its board composition. Ms. Jane Jie Sun, CEO and Director of Ctrip, was appointed as an Independent Director and a member of the audit committee of the Board of Directors of the Company. Dr. Haifeng Wang, Senior Vice President of Baidu and General Manager of Baidu?s AI Group, was appointed as a Director of the Board. Dr. Qi Lu has resigned from the Board and its compensation committee; while Mr. Herman Yu was appointed as Chairman of the compensation committee. These changes were effective immediately. Ms. Sun is well respected for her extensive experience in operating and managing online travel businesses, mergers, and acquisitions, and financial reporting and operations. In 2018, she was named one of the Emergent 25 Asia?s latest star businesswomen by Forbes Asia. Haifeng Wang, Ph.D., joined Baidu in 2010 and was promoted to Senior Vice President in May 2018. Dr. Wang is in charge of Baidu?s Artificial Intelligence Group (AIG) and heads Baidu Research, overseeing Baidu?s development efforts in machine learning, big data, computer vision, natural language processing, speech technology, knowledge graph, robotics, augmented reality, and maps.

About Skymoons Inc.

Headquartered in Chengdu, China, Skymoons focuses on the development and global publishing of mobile games. Skymoons has entered into cooperation agreements with a number of renowned international IP powerhouses with respect to the synchronized development and promotion of mobile games, films, anime, and comics based on the same source materials.

About iQIYI, Inc.

Founded in 2009, iQIYI 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.

Stock Performance Snapshot

July 18, 2018 - At Wednesday?s closing bell, iQIYI?s stock fell 2.81%, ending the trading session at $35.96.

Volume traded for the day: 29.50 million shares, which was above the 3-month average volume of 21.71 million shares.

Stock performance in the previous three-month period ? up 89.76%; and year-to-date - up 131.25%

After yesterday?s close, iQIYI?s market cap was at $23.72 billion.

The stock is part of the Technology sector, categorized under the Internet Information Providers industry. This sector was flat at the end of the session.

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