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Stock impact report

iQIYI Intelligence Completes Series A Financing to Accelerate the Forging of VR/AR Ecosystem

iQIYI, Inc. - American Depositary Shares (IQ) 
Last iqiyi, inc. - american depositary shares earnings: 2/27 04:30 pm Check Earnings Report
Company Research Source: PR Newswire
BEIJING, Nov. 14, 2019 /PRNewswire/ -- Chongqing iQIYI Intelligence Technology Co., Ltd. ("iQIYI Intelligence"), incubated and operated by iQIYI Inc., ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, announced that it has completed RMB 100 million Series A Financing led by Addor Capital and joined by Betrust Capital. The proceeds raised will be used for technological product R&D, application ecosystem development and marketing purposes to further consolidate iQIYI's wealth of contents, technology and user base acquired over the past few years. This will also facilitate the launch of new offerings and products, reinforcing iQIYI's unique position in the VR/AR industry to nurture a comprehensive ecosystem and drive the rapid development of VR/AR market in China.According to the Virtual Reality/Augmented Reality White Paper (2018), the market size of global VR industry will grow to more than RMB 200 billion (US$ 28.5 billion) by 2020, rising Show less Read more
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