iQIYI Files Its Annual Report on Form 20-F

Rhea-AI Summary

iQIYI (Nasdaq: IQ) filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission on March 16, 2026 (U.S. Eastern Time).

The annual report is available on the company’s investor relations website and a free hard copy of the audited consolidated financial statements will be provided to shareholders and ADS holders upon request at the Investor Relations Department address in Beijing.

Key Figures

2025 revenue: RMB 27.3 billion 2025 revenue (USD): US$3.90 billion 2025 net loss: RMB 204 million +3 more

6 metrics

2025 revenue RMB 27.3 billion Full year 2025 revenue disclosed in Form 20-F

2025 revenue (USD) US$3.90 billion Full year 2025 revenue disclosed in Form 20-F

2025 net loss RMB 204 million Full year 2025 net result after two profitable years

Ordinary shares outstanding 6.75 billion shares Ordinary shares outstanding as of December 31, 2025

ADS to share ratio 7 Class A shares per ADS Each ADS represents seven Class A ordinary shares

VIE revenue contribution 88% of 2025 revenue Portion of 2025 revenue generated by PRC variable interest entities

Market Reality Check

Price: $1.31 Vol: Volume 11,121,482 is belo...

normal vol

$1.31 Last Close

Volume Volume 11,121,482 is below 20-day average 12,533,135 (relative volume 0.89x). normal

Technical Trading below 200-day MA of 2.04 and 53.87% below 52-week high, near 3.97% above 52-week low.

Peers on Argus

IQ is up 1.55% while key entertainment peers listed (BATRA, BATRK, SPHR, MANU, C...

IQ is up 1.55% while key entertainment peers listed (BATRA, BATRK, SPHR, MANU, CNK) all show negative price changes, indicating stock-specific movement rather than a sector-wide move.

Historical Context

5 past events · Latest: Feb 26 (Negative)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 26	Q4/FY25 earnings	Negative	-3.4%	Mixed Q4 and weaker 2025 results with revenue decline and net loss.
Feb 10	Notes repurchase right	Neutral	+1.0%	Notification of holder repurchase right for 6.50% notes due 2028.
Jan 22	Earnings date set	Neutral	+4.0%	Announcement of timing and call details for Q4/FY25 results.
Jan 20	CFO leadership change	Negative	-1.0%	CFO resignation and appointment of Interim CFO to oversee transition.
Nov 18	Q3 2025 earnings	Negative	+6.3%	Revenue declines and return to losses versus prior-year profitability.

Pattern Detected

Stock often aligns with earnings and leadership news, but has previously risen on weaker quarterly results, indicating occasional divergence on fundamental negatives.

Recent Company History

Over the last six months, iQIYI reported softer 2025 fundamentals, including declining revenues and a swing back to net loss, and the stock fell 3.39% on the February 26, 2026 earnings release. A CFO change on January 20, 2026 also saw a modest negative reaction. By contrast, the market reacted positively 6.34% to weaker Q3 2025 results and 3.98% to an earnings date announcement, suggesting mixed sensitivity to fundamentals versus expectations. The current 20-F filing formalizes previously reported 2025 metrics and risk disclosures.

Market Pulse Summary

This announcement formalized iQIYI’s 2025 results and risk disclosures in its Form 20-F, including R...

Analysis

This announcement formalized iQIYI’s 2025 results and risk disclosures in its Form 20-F, including RMB 27.3 billion in revenue and a RMB 204 million net loss after two profitable years. The filing also highlighted 6.75 billion ordinary shares outstanding and that VIEs generated 88% of 2025 revenue. Investors monitoring this update would likely focus on how these figures relate to prior 6-K earnings releases and the structural and regulatory risks outlined for its China-based operations.

Key Terms

form 20-f, annual report, audited consolidated financial statements, ads

4 terms

form 20-f regulatory

"announced that it filed its annual report on Form 20-F for the fiscal year"

Form 20-F is the standardized annual disclosure that non-U.S. companies must file with the U.S. securities regulator when their shares are traded in the U.S.; it contains audited financial statements, a plain-language description of the business, management discussion, governance details and key risk factors. It matters to investors because it provides a consistent, comparable company “report card” and rulebook, helping buyers assess financial health, governance and risks before investing.

annual report financial

"announced that it filed its annual report on Form 20-F for the fiscal year"

An annual report is a comprehensive, year-end document a publicly traded company issues that presents its financial statements, management’s discussion of results, business strategy, and key risks. Investors use it like a combined report card and roadmap to judge a company’s financial health, how it makes money, and whether its plans and risks are likely to raise or lower future value, helping inform buy, hold, or sell decisions.

audited consolidated financial statements financial

"annual report containing the audited consolidated financial statements, free of charge"

A set of financial reports that combine a parent company and all its subsidiaries into one overall picture, examined and verified by an independent auditor. Think of it as a household budget that merges every family member’s accounts and is then checked by a neutral accountant; it gives investors a single, trustworthy view of the group’s assets, debts, income and cash flow. That independent check matters because it reduces the chance of hidden problems and helps investors compare companies on a level playing field.

ads financial

"its shareholders and ADS holders upon request. Requests should be directed"

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

AI-generated analysis. Not financial advice.

BEIJING, March 16, 2026 (GLOBE NEWSWIRE) -- iQIYI, Inc. (Nasdaq: IQ) (“iQIYI” or the “Company”), a leading provider of online entertainment video services in China, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the Securities and Exchange Commission on March 16, 2026, U.S. Eastern Time. The annual report can be accessed on the Company’s investor relations website at http://ir.iqiyi.com.

The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to Investor Relations Department, iQIYI, Inc., 4/F, iQIYI Youth Center, Yoolee Plaza, No. 21, North Road of Workers' Stadium, Chaoyang District, Beijing 100027, People’s Republic of China.

About iQIYI, Inc.

iQIYI, Inc. is a leading provider of online entertainment video services in China. It combines creative talent with technology to foster an environment for continuous innovation and the production of blockbuster content. It produces, aggregates and distributes a wide variety of professionally produced content, as well as a broad spectrum of other video content in a variety of formats. iQIYI distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. Over time, iQIYI has built a massive user base and developed a diversified monetization model including membership services, online advertising services, content distribution, online games, talent agency, experience business, etc.

For more information, please contact:
Investor Relations
iQIYI, Inc.
ir@qiyi.com

Source: iQIYI, Inc.

FAQ

When did iQIYI (IQ) file its Form 20-F for fiscal year 2025?

iQIYI filed its Form 20-F on March 16, 2026. According to iQIYI, the filing covers the fiscal year ended December 31, 2025 and was submitted on U.S. Eastern Time.

Where can investors access iQIYI's 2025 annual report (Form 20-F)?

Investors can access the annual report on iQIYI's investor relations website. According to iQIYI, the Form 20-F is posted at http://ir.iqiyi.com for viewing and download.

Can shareholders request a physical copy of iQIYI's audited financial statements?

Yes. iQIYI will provide a free hard copy of the audited consolidated financial statements upon request. According to iQIYI, requests should be directed to its Investor Relations Department in Beijing.

What fiscal period does the iQIYI Form 20-F filed March 16, 2026 cover?

The filing covers the fiscal year ended December 31, 2025. According to iQIYI, the Form 20-F documents results and disclosures for that full fiscal year.

Who should ADS holders contact to request iQIYI's annual report hard copy?

ADS holders should contact iQIYI's Investor Relations Department in Beijing to request the free hard copy. According to iQIYI, the request address is provided for shareholder and ADS holder inquiries.