BEIJING, Feb. 10, 2026 — iQIYI, Inc. (Nasdaq: IQ) (“iQIYI” or the “Company”), a leading provider of online entertainment video services in China, announced today that it is informing the holders of its 6.50% Convertible Senior Notes due 2028 (CUSIP No. G4939KAF3) (the “Notes”) that according to the Indenture dated as of March 7, 2023 (the “Indenture”) regarding the Notes between the Company and Citicorp International Limited, as trustee, each holder has the right, at the holder’s option, to demand that the Company repurchase all of the holder’s Notes or any portion thereof that is an integral multiple of US$200,000 principal amount for cash on March 16, 2026 (the “Repurchase Right”). The Repurchase Right starts at 9:00 a.m., New York City time, on Tuesday, February 10, 2026 and ends at 5:00 p.m., New York City time, on Thursday, March 12, 2026.
As required by the rules of the United States Securities and Exchange Commission (the “SEC”), the Company will file a Tender Offer Statement on Schedule TO today. Additionally, documents specifying the terms, conditions, and procedures for exercising the Repurchase Right will be accessible through the Depository Trust Company and the paying agent, which is Citibank, N.A. Neither the Company, its board of directors, nor its employees has made or is making any representation or recommendation to any holder regarding whether to exercise or refrain from exercising the Repurchase Right.
The Repurchase Right enables each holder of the Notes to require the Company to repurchase all of the holder’s Notes, or any portion thereof that is an integral multiple of US$200,000 principal amount. The repurchase price for such Notes will be equal to 100% of the principal amount of the Notes to be repurchased, plus any accrued and unpaid interest up to, but excluding, March 16, 2026, which is the date specified for repurchase in the Indenture (the “Repurchase Date”), provided that any such accrued and unpaid interest shall be paid to the holders of such Notes at the close of business on March 1, 2026, the regular record date immediately preceding the Repurchase Date. As of February 9, 2026, there was a total principal amount of US$208,059,000 of the Notes outstanding. If all outstanding Notes are surrendered for repurchase through the exercise of the Repurchase Right, the total cash purchase price will be approximately US$208,059,000.
The opportunity for holders of the Notes to exercise the Repurchase Right begins at 9:00 a.m., New York City time, on Tuesday, February 10, 2026 and will end at 5:00 p.m., New York City time, on Thursday, March 12, 2026. To exercise the Repurchase Right, a holder must follow the transmittal procedures stated in the Company’s Repurchase Right Notice to holders (the “Repurchase Right Notice”), which is available through the Depository Trust Company and Citibank, N.A. Holders may withdraw any previously tendered Notes according to the terms of the Repurchase Right at any time before 5:00 p.m., New York City time, on Thursday, March 12, 2026, which is the second business day immediately preceding the Repurchase Date, or as otherwise stipulated by applicable law.
This press release is for informational purposes only and is not an offer to buy, a solicitation of an offer to buy, or a solicitation of an offer to sell the Notes or any other securities of the Company. The offer to purchase the Notes will be made only in accordance with, and the Notes may be tendered only in line with, the Company’s Repurchase Right Notice dated February 10, 2026 and related documents.
Holders of the Notes should refer to the Indenture for a full description of the repurchase procedures and direct any questions regarding the repurchase mechanics to the Trustee by contacting and referencing “iQIYI G4939KAF3” in the email subject line.
HOLDERS OF NOTES AND OTHER INTERESTED PARTIES ARE URGED TO READ THE COMPANY’S SCHEDULE TO, REPURCHASE RIGHT NOTICE, AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT IQIYI, INC. AND THE REPURCHASE RIGHT.
Materials filed with the SEC will be available electronically for free at the SEC’s website, http://www.sec.gov. Documents filed with the SEC can also be obtained for free at the Company’s website, http://ir.iqiyi.com/.
About iQIYI, Inc.
iQIYI, Inc. is a leading provider of online entertainment video services in China. It combines creative talent with technology to create an environment for continuous innovation and the production of blockbuster content. It produces, aggregates, and distributes a wide range of professionally produced content, as well as a broad variety of other video content in various formats. iQIYI stands out in the online entertainment industry with its leading technology platform powered by advanced AI, big data analytics, and other core proprietary technologies. Over time, iQIYI has built a large user base and developed a diversified monetization model that includes membership services, online advertising services, content distribution, online games, talent agency, experience business, etc.
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Investor Relations
iQIYI, Inc.
