BEIJING, June 14, 2018 (GLOBE NEWSWIRE) -- iQIYI, Inc. (NASDAQ:IQ) ("iQIYI" or the "Company"), an innovative
market-leading online entertainment service in China, today announced changes to its board composition. Ms. Jane Jie Sun, the chief
executive officer and a director of Ctrip, has been appointed as an independent director and a member of the audit committee
of the board of directors (the "Board") of the Company. Dr. Haifeng Wang, senior vice president of Baidu and general manager
of Baidu's AI Group, has been appointed as a director of the Board. Dr. Qi Lu has resigned from the Board and its
compensation committee, and Mr. Herman Yu has been appointed as the chairman of the compensation committee. These changes will be
effective on June 14, 2018.
“We’d like to warmly welcome Jane and Haifeng to our Board,” said Dr. Yu Gong, Founder, Director and Chief
Executive Officer of iQIYI. “Their extensive industry expertise and leadership experience will bring significant value to iQIYI as
the Company continues on its path to become a technology-based entertainment giant. On behalf of the Board, I’d also like to thank
Qi for his support and contribution to the Company over the past year.”
Jane Jie Sun serves as the Chief Executive Officer and a member of the board of directors of Ctrip.com
International, Ltd. (NASDAQ:CTRP) from November 2016. Prior to that, she was the Chief Operating Officer since May 2012 and
Co-President since March 2015, and Chief Financial Officer from 2005 to 2012. Ms. Sun is well respected for her extensive
experiences in operating and managing online travel businesses, mergers and acquisitions, and financial reporting and operations.
In 2018, she was named one of the Emergent 25 Asia’s latest star businesswomen by Forbes Asia. In 2017, she was also named one of
the most influential and outstanding businesswomen by Forbes China, one of Fortune’s Top 50 Most Powerful Women in Business, and
one of FastCompany’s Most Creative People in Business. During her tenure at Ctrip, she won the Best CEO and Best CFO Award by
Institutional Investor. Prior to joining Ctrip, Ms. Sun worked as the head of the SEC and External Reporting Division of Applied
Materials, Inc. since 1997. Prior to that, she worked with KPMG LLP as an audit manager in Silicon Valley, California for five
years. She is a member of American Institute of Certified Public Accountants and State of California Certified Public Accountant.
Ms. Sun received her bachelor’s degree from the business school of the University of Florida with high honors. She also attended
Beijing University Law School and obtained her LLM degree.
Haifeng Wang, Ph.D., joined Baidu in 2010 and was promoted to senior vice president in May 2018. Dr. Wang is in
charge of Baidu’s Artificial Intelligence Group (AIG) and heads Baidu Research, overseeing Baidu’s development efforts in machine
learning, big data, computer vision, natural language processing, speech technology, knowledge graph, robotics, augmented reality
and maps. From 2014 to 2017, Dr. Wang oversaw Baidu’s core search products. Currently he serves as president of National
Engineering Laboratory for Deep Learning Technology and Applications. Dr. Wang is a fellow of the Association for
Computational Linguistics (ACL). He obtained his bachelor’s, master’s, and Ph.D. degrees in computer science at the Harbin
Institute of Technology.
About iQIYI, Inc.
iQIYI, Inc. (NASDAQ:IQ) (“iQIYI” or the “Company”) 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, partner-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, live broadcasting, online
games, IP licensing, online literature and e-commerce etc. For more information on iQIYI, please visit http://ir.iqiyi.com.
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. Among other things, the quotations from management in this announcement contain forward-looking 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. A
number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including
but not limited to the following: iQIYI's strategies; iQIYI's future business development, financial condition and results of
operations; iQIYI's ability to retain and increase the number of users, members and advertising customers, and expand its service
offerings; competition in the online entertainment industry; changes in iQIYI's revenues, costs or expenditures; Chinese
governmental policies and regulations relating to the online entertainment industry, general economic and business conditions
globally and in China and assumptions underlying or related to any of the foregoing. Further information regarding these and other
risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press
release and in the attachments 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 more information, please contact:
Investor Relations
iQIYI, Inc.
＋86 10 8264 6585
ir@qiyi.com
