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Baidu's IQIYI Files For U.S. IPO

iQIYI Inc, online video subsidiary of Baidu.com Inc. (BIDU), filed for an initial public offering in the U.S. It has applied to have our ADSs listed on the Nasdaq Global Market under the symbol "IQ".

The Beijing-based company filed with an offering size of $1.5 billion, an initial placeholder amount that is likely to change.

iQIYI's total revenues increased by 111.3% from RMB5,318.6 million 2015 to RMB11,237.4 million in 2016, and further by 54.6% from RMB11,237.4 million in 2016 to RMB17,378.4 million or US$2.67 billion in 2017. We had net losses of RMB2,575.1 million, RMB3,074.0 million, and RMB3,736.9 million (US$574.4 million) in 2015, 2016, and 2017, respectively.

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