China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Blue Lotus Non US Internet research, Blue Lotus Research Institute

Ying Pan

Blue Lotus Non US Internet research

Equity Bottom-Up

<ul>
<li>IQiyi reported C2Q24 top line, non-GAAP operating profit and GAAP net income inline, 5.0% and 18% vs. consensus. </li>
<li>The short-term reason is executional, but long-term reason is sustained competition from well-funded rivals and short video platforms. </li>
<li>We keep the stock at BUY and cut TP to US$3.7.</li>
</ul>


IQiyi reported C2Q24 top line, non-GAAP operating profit and GAAP net income inline, 5.0% and 18% vs. consensus. 
The short-term reason is executional, but long-term reason is sustained competition from well-funded rivals and short video platforms. 
We keep the stock at BUY and cut TP to US$3.7.


[iQIYI, Lnc. (IQ US, BUY, TP US$3.7) TP Change]: Take Out Value Is Still the Key Support for IQ

iQIYI Inc

[iQIYI, Lnc. (IQ US, BUY, TP US$3.7) TP Change]: Take Out Value Is Still the Key Support for IQ