IQ is registered in Cayman Islands as a shell holding company so they can sell stock to u.s investors and by pass china laws....not all china stocks are set up like this! So you can not stereotype all Chinese companies with this shady set up. Technically you really don't own a equity stake when you buy Cayman island Chinese stocks. So the experts say...
I am taking my first look here.
iQIYI Posts Smaller-Than-Expected Q3 Loss, Lower Subscribing Members, Sets Q4 Guidance
2020-11-16 04:48:09 PM ET (MT Newswires)
04:48 PM EST, 11/16/2020 (MT Newswires) -- iQIYI (IQ) on Monday narrowed its net loss to RMB1.61 ($0.24) per ADS from RMB5.04 a year earlier, smaller than analysts' estimates of RMB2.69 per ADS in a Capital IQ poll.
Revenues fell 3% to RMB7.2 billion ($1.1 billion) from a year ago, broadly in-line with market expectations.
The video streaming service company, a unit of China's search engine Baidu (BIDU), reported 104.8 million subscribing members in Q3, down from 105.8 million a year ago.
For Q4, iQIYI expects revenue of RMB7.28 billion to RMB7.73 billion, against the Street consensus of RMB7.51 billion.
IQ expecting reccos shortly with a 35 ps price tag
The technicals are looking good, as the stay at home months will boost both subscribers and revenues.
Wont be shocked if $NFLX takes a good lock at $IQ..Netflix bets big on Asia as it sees 'significant potential' in these markets https://www.cnbc.com/2020/11/09/netflix-nflx-its-strategy-in-asian-markets-like-india-indonesia.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard
The fact it’s holding its gains in a sell off, indicates IQ is going to receive an upgrade or two very soon as in this week. Bidi now needs IQ’s income stream