iQIYI, Inc. announced that Chief Financial Officer Jun Wang has resigned effective immediately, citing personal reasons, and that Senior Vice President of Finance Ying Zeng will serve as interim CFO until a permanent replacement is found.
Wang, who joined iQIYI in 2014, led the company’s financial strategy through a period of significant capital restructuring, helping to reduce debt and improve liquidity. He will remain on the board as an advisor through May 31, 2026, ensuring continuity during the transition.
Zeng, who joined iQIYI in February 2017 and has been SVP of Finance since January 2022, brings experience from Baidu and eLong. She will oversee day‑to‑day financial operations and spearhead the executive search for a new CFO, while maintaining the momentum of the company’s financial initiatives.
iQIYI’s recent financial performance has been mixed. In Q3 2024 the company reported a net income of RMB 229.4 million, a 52% decline from the previous year, while Q3 2025 saw a net loss of RMB 248.9 million. Revenue has slipped year‑over‑year, with a 10% drop in Q3 2024 and a further decline in Q3 2025, reflecting broader market headwinds and intensified competition from rivals such as Tencent Video and Alibaba’s Youku. Despite these challenges, iQIYI has continued to invest in its microdrama library and overseas membership growth, which have become key growth drivers in international markets.
CEO Dr. Yu Gong praised Wang’s contributions, noting that his work “instrumentally strengthened our capital structure and established a more resilient financial foundation to support future value creation.” He also expressed confidence in Zeng’s ability to lead the company through the transition, emphasizing the importance of maintaining strategic focus on content expansion, AI‑driven user experience, and cost discipline.
The transition underscores iQIYI’s commitment to financial stability while pursuing aggressive growth in content and global markets. The appointment of an experienced internal candidate signals continuity and a focus on preserving the company’s strategic trajectory during the leadership change.
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