iQIYI, Inc. announced that Mr. Xiaodong Wang has retired from his position as Chief Financial Officer, effective immediately, due to personal reasons. The Company has appointed Mr. Jun Wang to succeed Mr. Xiaodong Wang as the new Chief Financial Officer. Mr. Xiaodong Wang will continue on as an advisor to iQIYI to ensure a smooth transition, through April 30, 2022.

. Jun Wang has been engaged by the Company since January 2018 to advice on major capital market transactions, where he had opportunities to work closely with iQIYI's management team. Prior to that, he served as a partner of Waterwood GroupLimited, a private equity firm, from December 2015 to October 2017.