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424B4
IQIYI, INC. filed this Form 424B4 on 03/29/2018
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Table of Contents

iQIYI, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2015, 2016 AND 2017—continued

(Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“US$”),

except for number of shares (or ADS) and per share (or ADS) data)

 

11. FIXED ASSETS, NET

Fixed assets consist of the following:

 

     As of December 31,  
     2016      2017      2017  
     RMB      RMB      US$  

Computer equipment

     1,155,699        1,519,261        233,506  

Office furniture and equipment

     28,692        40,634        6,245  

Leasehold improvements

     35,393        79,036        12,148  

Office building

     —          589,543        90,611  

Others

     8,520        9,729        1,495  
  

 

 

    

 

 

    

 

 

 
     1,228,304        2,238,203        344,005  
  

 

 

    

 

 

    

 

 

 

Less: Accumulated depreciation

     (692,937      (996,656      (153,183

Construction in progress

     3,844        7,421        1,141  
  

 

 

    

 

 

    

 

 

 
     539,211        1,248,968        191,963  
  

 

 

    

 

 

    

 

 

 

No impairment charges were recognized on fixed assets for the years ended December 31, 2015, 2016 and 2017, respectively.

Depreciation expense was RMB222,195, RMB306,495 and RMB348,921 (US$53,628) for the years ended December 31, 2015, 2016 and 2017, respectively.

 

12. LOANS PAYABLE

Short-term Loans

 

     As of December 31,  
     2016      2017      2017  
     RMB      RMB      US$  

Short-term loans guaranteed by the subsidiary and VIE within the Group

     100,000        299,374        46,013  
  

 

 

    

 

 

    

 

 

 

In January 2016, Beijing iQIYI entered into a banking facility agreement with China Merchants Bank (Beijing Branch), pursuant to which Beijing iQIYI is entitled to borrow a RMB denominated loan of RMB200,000 with a fixed annual interest rate at 95% of the benchmark one-year lending rate published by the People’s Bank of China. The loan is intended for general working capital purposes and is repayable after one year with a fixed interest rate of 4.13%. In 2016, Beijing iQIYI drew down RMB100,000 of principal. The principal, interest, related penalties and other costs of the loans under this agreement were guaranteed by Beijing QIYI Century and Shanghai iQIYI, who are jointly and severally liable to the creditor. The loan balance was fully repaid when it became due in 2017.

In June 2017, Beijing iQIYI entered into a banking facility agreement with China Minsheng Bank (Beijing Branch), pursuant to which Beijing iQIYI is entitled to borrow a RMB denominated loan of up to RMB300,000

 

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