iQIYI Original Interactive VR Film "The Final Wish" Shortlisted for Award at 78th Venice International Film Festival

BEIJING,Aug. 9,2021 -- iQIYI Inc. (NASDAQ:IQ) ("iQIYI" or the "Company"),an innovative market-leading online entertainment service inChina,today announced that its original interactive virtual reality (VR) filmThe Final Wish (the "Film") has been shortlisted for an award in the Venice VR Expanded category at the prestigiousVeniceInternational Film Festival. The Final Wishwill be officially launched in mid-August on iQIYI. Users can experience it through the iQiYI VR APP. The Venice International Film Festival will screen the film online from September 1 to 11.

iQIYI Original Interactive VR Film "The Final Wish" Shortlisted for Award at 78th Venice International Film Festival

This is the third time for a Chinese Mainland original VR production to receive such recognition from a major international film festival after iQIYI's original VR production the Last One Standing VR was nominated the Venice Award for Best Virtual Reality in 2018 and Killing a Superstarwas awarded the Best VR Immersive Story Award of the Venice VR Expanded category in 2020.

As a major immersive8KHD VRproject for iQIYI this year and the second film for its VR Interactive Theater,Crime Scene,The Final Wishtells the suspense-driven story of six inheritance beneficiaries of a young art dealer passed away. Following the meeting of the six individuals at the art dealer's studio,the truth of his death is unfolded.

The Final Wishadopts multiple parallel narratives in immersive drama,using panoramic observation and multi-viewpoint switching. By giving the audience the freedom to switch between scenes at any time,the film invites the audience to explore the film's storyline and narrative logic. Users can also identify clues and complete tasks while watching to create a unique and engaging experience. The VR film supports 8K HD format and Dolby Atmos,delivering an unprecedented premium immersive VR interactive audio-visual experience.

"VR as an innovative form of expression will bring great potential to content creation,and the application of VR technology will diversify the content and consumption offered to users," said Zhang Hang,vice president of iQIYI.

As one of the first domestic technology and entertainment companies to tap into the VR market,iQIYI has steadily established a VR lineup covering dramas,films,variety shows and gaming. To date,iQIYI has launched VR titles such as Ghost Blows Out the Light: Mu Ye Gui Shi (drama) the Last One Standing VR (film),Idol Producer (variety show),TUKTAKMAN VR (animation) and Chinese Paladin 4 VR(game). Many of these have won critical acclaim and recognition. In 2020,the Company established DreamVerse Studio to create VR works,full-sensory technology,and other solutions to drive the evolution of the offline multi-sensory entertainment experience industry.

Going forward,iQIYI's VR business will continue to launch premium original interactive VR content,creating innovative audio-visual experiences powered by cutting-edge technology. The Company will also strive to explore new genres and applications for interactive VR,opening up new avenues for the burgeoning industry.