Online video platform iQIYI files for Hong Kong listing

Chinese online video platform iQIYI said on Monday that it has filed an application with the Hong Kong stock exchange, seeking approval to list its Class A ordinary shares.

It also announced a new share repurchase program of up to $100 million over the next 18 months, effective immediately upon approval. The buyback may include its American depositary shares.

iQIYI said details of the proposed listing have not yet been finalized and remain subject to regulatory approvals, adding that there is no assurance the listing will proceed or when it may take place.

The move comes after the company first went public on the Nasdaq in March 2018.

According to its 2025 financial results, iQIYI reported total revenue of 27.29 billion yuan ($3.8 billion), with non-GAAP operating profit reaching 640 million yuan, marking its fourth consecutive year of operating profitability.

By segment, membership services remained the largest revenue contributor at 16.81 billion yuan, followed by online advertising at 5.19 billion yuan, content distribution at 2.5 billion yuan and other revenue at 2.79 billion yuan.

The company’s overseas business has also emerged as a key growth driver. In 2025, international membership revenue rose by more than 30 percent year-on-year, with year-on-year growth accelerating to over 40 percent in the fourth quarter. Markets including Brazil, Mexico and Indonesia recorded particularly strong performance, with membership revenue in each market surging by more than 80 percent.