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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)

 

With the assistance of an independent third party valuation firm, the Company determined that the change in fair value of a Series B preferred share immediately before and after the December 2017 amendment exceeded 10% and the modification of the Series B preferred shares was accounted for as an extinguishment. The RMB363,279 (US$55,835) difference between the fair value of the Series B preferred shares based on the amended terms and the carrying amount of the Series B preferred shares is recorded as a decrease to net income attributable to ordinary shareholders for the year ended December 31, 2017.

The movement in the carrying value of the Preferred Shares is as follows:

 

Mezzanine equity

  Series A     Series A-1     Series B     Series C     Series D     Series E     Series F     Series G     Total  
    RMB     RMB     RMB     RMB     RMB     RMB     RMB     RMB     RMB  

Balance as of December 31, 2014

    645,466       6,826       1,167,980       862,452       2,759,339       1,883,989       2,495,991       —         9,822,043  

Accretion of Preferred Shares

    172,624       —         173,643       279,969       669,081       664,104       382,964       —         2,342,385  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of December 31, 2015

    818,090       6,826       1,341,623       1,142,421       3,428,420       2,548,093       2,878,955       —         12,164,428  

Accretion of Preferred Shares

    407,063       —         211,157       651,248       1,605,881       1,533,824       465,566       —         4,874,739  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of December 31, 2016

    1,225,153       6,826       1,552,780       1,793,669       5,034,301       4,081,917       3,344,521       —         17,039,167  

Issuance of Series G preferred shares

    —         —         —         —         —         —         —         10,272,358       10,272,358  

Accretion of Preferred Shares

    (619,013     —         (369,147     (839,125     (1,838,631     (1,737,234     186,062       143,948       (5,073,140

Extinguishment and reissuance of Series B preferred shares

    —         —         363,279       —         —         —         —         —         363,279  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of December 31, 2017

    606,140       6,826       1,546,912       954,544       3,195,670       2,344,683       3,530,583       10,416,306       22,601,664  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance as of December 31, 2017 US$)

    93,162       1,049       237,756       146,711       491,165       360,371       542,641       1,600,957       3,473,812  
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

F-69