iQIYI, Inc. announced the appointment of Mr. Ying Tian as Chief Financial Officer of the Company, effective July 2, 2026. The leadership change aims to strengthen the company's financial management as it pursues its next phase of growth. Concurrently, Ms. Ying Zeng will step down from her position as Interim Chief Financial Officer and resume the role of Senior Vice President of Finance.

Dr. Yu Gong, Director and Chief Executive Officer of iQIYI, expressed confidence in Mr. Tian's ability to drive business performance and operational excellence. He also thanked Ms. Zeng for her dedicated contributions during her tenure as Interim Chief Financial Officer.

Mr. Tian brings extensive experience from his previous roles. He served as the chief financial officer and head of finance of Baidu AI Cloud Group from July 2023 to June 2026. Prior to that, he was the chief financial officer and head of finance of Baidu Intelligent Driving Group from October 2022 to July 2023. His career also includes various finance and business management roles at Huawei Technologies, including chief financial officer of Huawei Enterprise Business Group China.

Professional Background

Mr. Tian's professional history includes significant leadership positions in technology and finance:

Mr. Tian received a master’s degree in project management and a bachelor’s degree in structural engineering from the Wuhan University of Technology. He obtained the Certified Management Accountant (CMA) credential in 2025.

iQIYI, Inc. is a leading provider of online entertainment video services in China, leveraging advanced AI and big data analytics to power its technology platform.

iQIYI faced a challenging 2025, with full-year revenue falling 7% year-on-year to RMB 27.29 billion and the company swinging to a net loss of RMB 206.3 million attributable to shareholders. The decline ended the platform's previous profitability cycle, pressured by intensifying competition and a peak in long-form video user scale. Despite the annual downturn, the fourth quarter signaled a recovery, with revenue rising 3% year-on-year to RMB 6.79 billion and Average Revenue Per User (ARPU) increasing by 13%.

Q4 Performance Recovery

The fourth quarter emerged as a turning point, reversing the revenue declines seen in the first three quarters. Membership revenue increased 4% quarter-on-quarter, while advertising revenue reached RMB 1.35 billion, up 9% quarter-on-quarter. This recovery was bolstered by the success of the hit drama "Strange Tales of Tang Dynasty 3," which achieved a heat score of 8,850 within five hours of launch and garnered over 750 million cumulative views. The performance helped drive brand advertising growth, with variety and drama advertising revenue rising double digits year-on-year.

2025 Business Segment Performance

Revenue declines were recorded across iQIYI's primary business units. Membership services, the core revenue generator, brought in RMB 16.81 billion, accounting for 61.6% of total revenue but falling 5% year-on-year. Online advertising services revenue dropped 9% to RMB 5.19 billion, while content distribution and other businesses decreased 8% to approximately RMB 5.29 billion. The company attributed the declines to user time fragmentation caused by short-form videos and the sustained popularity of free, AI-generated micro-dramas.

User Engagement and Strategic Outlook

Alternative data indicates shifting user engagement patterns. While Monthly Active Users (MAU) fell 9% year-on-year in Q4 2025, ARPU rose to RMB 22.07 per month. In Q1 2026, MAU dropped 13% year-on-year, yet average daily usage time per user increased to 118 minutes, up 43%. To counteract user growth ceilings, iQIYI is accelerating AI innovation through tools like "Nado Pro" and expanding its offline footprint, including the development of iQIYI Parks. The company also aims to boost overseas revenue, particularly in Southeast Asia, through localized content investments.