On January 19, 2023, iQIYI, Inc. (“iQIYI”, Stock Code: IQ.NASDAQ) priced an offering of 76.5 million American Depositary Shares (ADS). The company granted the underwriters a 30-day option to purchase up to 11.475 million additional ADSs. The proceeds of the offering amount to USD 442.3 million, assuming the underwriters do not exercise the option to purchase additional ADSs.

As the domestic legal counsel of the issuer, Jingtian & Gongcheng provided full-process legal services for the offering. The firm advised iQIYI on its U.S. listing in March 2018, the issuance of convertible notes of USD 750 million in December 2018, USD 1.2 billion in April 2019, and USD 900 million in December 2020, as well as the offering of 40 million ADSs in December 2020.