iQIYI Restored Heritage Film "The Adventures of Sanmao the Waif" Selected for Screening at Shanghai International Film Festival

BEIJING,June 18,2019 -- The restored version of heritage Chinese comedy film The Adventures of Sanmao the Waif (1949)(the "Film") has been selected to be screened at Shanghai International Film Festival (the "Festival") as part of a series of restored films for the festival's "Memories and Classics - Special Film Exhibition of the Establishment of the People's Republic of China" segment. The film was a 4k restoration that was jointly restored by iQIYI,Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"),an innovative market-leading online entertainment service in China,and Jiangsu Huaxia Film Restoration Technology Co. LTD ("Huaxia"). With the screening at the festival taking place on June 18,2019,the Film is also due for national release at cinemas across the country on October 1,China's National Day.

iQIYI Restored Heritage Film “The Adventures of Sanmao the Waif” Selected for Screening at Shanghai International Film Festival

As the first domestic film to be produced and distributed publicly after the establishment of the People's Republic of China,the Film is the perfect embodiment of art,culture and history. The Film is set in oldShanghaiduring its golden era,and tells the story of Sanmao's life in stark poverty against a backdrop of war.Sanmao,the Film's central character,has since become a classic film figure that is recognized and adored by the Chinese public.

"We recognize and highly value the technical and historical significance early film restoration brings to the development of the movie industry," said Ya Ning,President of iQIYI Pictures.

Due to the fragility of early film,iQIYI faced various technical issues such as scratches,spots,andcolor fading during the restoration process of The Adventures of Sanmao the Waif. After comparing different versions of films,it was discovered that many of the picture damage problems were caused by the original film materials used. After conducting repair procedures such as cleaning,dust removal,mold removal and repair,4K scanning and digitization were carried out frame by frame using professional film scanning equipment,the films were stored in a digital resource library for further digital repair on the picture,sound,color and other aspects. Under the precondition of preserving the artistic style of the original film,the Film has been restored to its original condition as much as possible.

As technological development continues to drive advancement of the film industry,iQIYI is constantly discovering new methods to better restore and preserve film classics that are significant to Chinese film culture. The restored versions of The Adventures of Sanmao the Waif and Diary of a Nurse (1957) were both screened at the Shanghai International Festival in the past two years. Diary of a Nurse was selected to be screened at the Cannes Film Festival as part of a series of restored films for the festival's "Cannes Classics" segment in May. Upcoming film restorations of Chinese heritage films by iQIYI include The Peach Blossom Fan (1963) and Family (1956).

Powered by the company's self-developed ZoomAI technology,iQIYI has conducted high precision and high standard restorations on films,TV dramas and 3D animations. Going forward,iQIYI will continue to utilize its advantages in technology to help restore films with high precision and standard,offering audiences an improved viewing experience by allowing them to enjoy film classics with better playback quality.

About iQIYI,Inc.

iQIYI,Inc. (NASDAQ: IQ) ("iQIYI" or the "Company") is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology,fostering an environment for continuous innovation and the production of blockbuster content. iQIYI's platform features highly popular original content,as well as a comprehensive library of other professionally-produced content,partner-generated content and user-generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI,big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement,and has developed a diversified monetization model including membership services,online advertising services,content distribution,live broadcasting,online games,IP licensing,online literature,e-commerce,etc.

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