BEIJING, Jan. 25, 2022 /PRNewswire/ -- iQIYI, Inc.
(Nasdaq: IQ) ("iQIYI" or the "Company"), an innovative
market-leading online entertainment service in China, today announced that Mr. Xiaodong Wang has retired from his position as
Chief Financial Officer, effective today, due to personal reasons.
The Company has appointed Mr. Jun
Wang to succeed Mr. Xiaodong
Wang as the new Chief Financial Officer. Mr. Xiaodong Wang will continue on as an advisor to
iQIYI to ensure a smooth transition, through April 30, 2022.
"I am grateful to Xiaodong for his almost a decade of service.
Xiaodong's expertise and leadership have helped us build a talented
finance organization and reliable financial reporting system that
underpin iQIYI's growth. On behalf of the Company and
management team, I thank Xiaodong for his contributions and wish
him all the best," said Dr. Yu Gong,
Director and Chief Executive Officer of the Company. "Also, I would
like to welcome Jun to our executive team. Jun has supported our
IPO and various post-IPO financing transactions, and is familiar
with our business and financial conditions. I look forward to
working with Jun in his new capacity, as we continue to unleash our
potential in the future."
"It has been my honor to serve as iQIYI Chief Financial Officer
and to witness its rapid growth in the past years," said Mr.
Xiaodong Wang. "I give my best
wishes to iQIYI and hope it will continue to succeed."
"I am deeply humbled and it is an absolute privilege to serve
iQIYI as its Chief Financial Officer," said Mr. Jun Wang. "I am familiar with the business and management team and
looking forward to working with everyone at the Company to achieve
iQIYI's vision for the future."
Mr. Jun Wang has been engaged by
the Company since January 2018 to
advice on major capital market transactions, where he had
opportunities to work closely with iQIYI's management team. Prior
to that, he served as a partner of Waterwood Group Limited, a private equity firm, from
December 2015 to October 2017. From June
2014 to August 2015, he served
as a managing director of TBP Consulting (Hong Kong) Limited. From July 2008 to June
2014, he worked at J.P. Morgan Securities (Asia Pacific) Limited with his last position
being the vice president of investment banking, and was experienced
in U.S. and Hong Kong IPOs, ratings and bond offerings, as well as
cross-border M&A transactions. Mr. Wang obtained a bachelor's
degree in English from Tsinghua University in July 2000 and a master's degree in business
administration from the University of
Chicago in June 2008. Mr. Wang
has more than 10 years of experience in corporate finance and
investment.
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,
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, further information regarding which is included in
the Company's filings with the Securities and Exchange Commission.
All information provided in this press release 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 further information, please contact:
Investor Relations
iQIYI, Inc.
+ 86 10 8264 6585
ir@qiyi.com
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SOURCE iQIYI, Inc.