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SEC Comment Letter for iQIYI, (IQ) — Mar 29, 2018

iQIYI, Inc.
Date: March 29, 2018 · CIK: 0001722608 · Accession: 0000000000-18-009573

AI Filing Summary & Sentiment

Date
March 29, 2018
Author
Not clearly detected
Form
UPLOAD
Company
iQIYI, Inc.

Letter

SKADDEN , ARPS, SLATE , MEAGHER & F LOM

DIRECT DIAL 世達國際律師事務所 AFFILIATE OFFIC ES

+852 3740 4863 DIRECT FAX +852 3910 4863 EMAIL ADDRESS JULIE.GAO@SKADDEN.COM

PARTNERS CHRISTOPHER W. B ETTS WILL H. C AI^ GEOFFREY CHAN * CHI T. S TEVE KWOK * EDWARD H.P. L AM ◆* HAIPING LI* RORY MCALPINE ◆ CLIVE W. R OUGH ◆ JONATHAN B. S TONE * ^ (ALSO ADMITTED IN CALIFOR NIA) 42/F, EDINBURGH TOWER, THE LANDMARK

BOSTON CHICAGO HOUSTON LOS ANGELES NEW YORK PALO ALTO WASHINGTON, D.C. WILMINGTON

BEIJING BRUSSELS FRANKFURT LONDON MOSCOW MUNICH PARIS SÃO PAULO SEOUL SHANGHAI SINGAPORE TOKYO TORONTO 15 QUEEN’S ROAD CENTRA L, HONG KONG

TEL: (852) 3740 -4700

FAX: (852) 3740 -4727

www.sk adden .co m

◆ (ALSO ADMITTED IN ENGLAND & WALES )

* (A LSO ADMITTED IN NEW YORK )

March 16, 2018

REGISTERED FOREIGN LAWYERS Z. JULIE GAO (CALIFORNIA )

BRADLEY A. K LEIN (ILLINOIS )

VIA EDGAR Mail Stop 3561 Mr. Justin Dobbie Mr. J. Nolan McWilliams Mr. Abe Friedman Ms. Theresa Brillant Office of Transportation and Leisure Division of Corporation Finance U.S. Securities and Ex change Commission 100 F Street, NE

Washington, D.C. 20549

Re: iQIY I, Inc. (CIK No. 0001722608) Registration Statement on Form F -1 Dear Mr. Dobbie, Mr. McWilliams, Mr. Friedman, and Ms. Brillant: On behalf of our client, iQIY I, Inc., a company organized under the laws of the Cayman Islands (the “Company ”), we are filing herewith the Amendment No. 1 to the Company’s registration statement on Form F -1 (the “ Registration Statement”) and certain ex hibits via EDGAR to the Securities and Ex change Commission (the “Commis s ion ”). To facilitate your review, we have separately delivered to you today four courtesy copies of the Registration Statement, marked to show changes to the registration statement filed with the Commission on February 27, 2018, and two copies of the ex hibits filed with the Registration Statement. The Company added certain third -party market information in the Registration Statement. In this regard, the Company has enclosed, as A nn ex A to this letter, relevant portions of the third -party market information sources cited in the Registration Statement,

U.S. Securities and Ex change Commission March 16, 2018 Page 2

marked to highlight the applicable portions or sections containing the updated st atements or statistics cited and cross -referenced to the relevant locations in the Registration Statement. Because the third -party materials are in Chinese, the Company has prepared English translations of the applicable portions of the third -party materia ls to facilitate the Staff’s review. The Company will commence the marketing activities in connection with the offering on March 19, 2018. The Company plans to request that the Staff declare the effectiveness of the Registration Statement on or about Marc h 28, 2018, and will file the joint acceleration requests in time before the requested acceleration time. The Company would greatly appreciate the Staff’s continuing assistance and support in meeting its timetable.

U.S. Securities and Ex change Commission March 16, 2018 Page 3

If you have any questions regarding the Registration Statement, please contact the undersigned by phone at +852- 3740-4863 or via e -mail at julie.gao@skadden.co m or Hoffman Cheong, the audit engagement partner at Erns t & Y oung Hua Ming LLP, by telephone at +8610 -5815-2388 or via email at Hoffman.Cheong@cn.ey.com. Erns t & Y oung Hua Ming LLP is the independent registered public accounting firm of the Company.

V ery truly yours,

/s/ Z. Julie Gao Z. Julie Gao Enclosures

cc: Robin Y anhong Li, Chairman of the Board of Directors, iQIY I, Inc Dr. Y u G ong, Chief Ex ecutive Officer, iQIY I, Inc. Xiaodong Wang, Chief Financial Officer, iQIYI, Inc. Will H. Cai, Esq., Partner, Skadden, Arps, Slate, Meagher & Flom LLP Hoffman Cheong, Partner, Ernst & Y oung Hua Ming LLP

Li He, Esq., Partner, Davis Polk & W ardwell LLP

Show Raw Text
SKADDEN , ARPS, SLATE , MEAGHER  & F
LOM

    DIRECT  DIAL     世達國際律師事務所
   AFFILIATE  OFFIC
ES

+852 3740 4863
    DIRECT FAX
+852 3910 4863
    EMAIL  ADDRESS
JULIE.GAO@SKADDEN.COM

PARTNERS
CHRISTOPHER  W. B ETTS
WILL H. C AI^
GEOFFREY  CHAN *
CHI T. S TEVE  KWOK *
EDWARD  H.P. L AM ◆*
HAIPING  LI*
RORY  MCALPINE  ◆
CLIVE  W. R OUGH  ◆
JONATHAN  B. S TONE *
^ (ALSO ADMITTED  IN CALIFOR
NIA)
  42/F, EDINBURGH TOWER, THE LANDMARK

BOSTON
CHICAGO
HOUSTON
LOS ANGELES
NEW YORK
PALO ALTO
WASHINGTON,
D.C.
WILMINGTON

BEIJING
BRUSSELS
FRANKFURT
LONDON
MOSCOW
MUNICH
PARIS
SÃO PAULO
SEOUL
SHANGHAI
SINGAPORE
TOKYO
TORONTO
  15 QUEEN’S ROAD CENTRA L, HONG KONG

TEL: (852)  3740 -4700

  FAX: (852)  3740 -4727

  www.sk adden .co m

◆ (ALSO ADMITTED  IN ENGLAND  & WALES )

* (A LSO ADMITTED  IN NEW YORK )

                                                     March 16, 2018

REGISTERED  FOREIGN  LAWYERS
Z. JULIE  GAO (CALIFORNIA )

BRADLEY  A. K LEIN  (ILLINOIS )

VIA EDGAR
Mail Stop 3561
Mr. Justin Dobbie
Mr. J. Nolan McWilliams
Mr. Abe Friedman
Ms. Theresa Brillant
Office of Transportation and Leisure
Division of Corporation Finance
U.S. Securities and Ex change Commission
100 F Street, NE

Washington, D.C. 20549

  Re: iQIY I, Inc. (CIK No. 0001722608)
     Registration Statement on Form F -1
Dear Mr. Dobbie, Mr.  McWilliams, Mr.  Friedman, and Ms.  Brillant:
On behalf of our client, iQIY I, Inc., a company organized under the laws of the Cayman Islands (the
“Company ”), we are filing herewith the Amendment No.  1 to the Company’s registration statement on Form F -1
(the “ Registration Statement”) and certain ex hibits via EDGAR to the Securities and Ex change Commission (the
“Commis s ion ”). To facilitate your review, we have separately delivered to you today four courtesy copies of the
Registration Statement,  marked to show changes to the registration statement filed with the Commission on
February  27, 2018, and two copies of the ex hibits filed with the Registration Statement.
The Company added certain third -party market information in the Registration Statement. In this regard, the
Company has enclosed, as A nn ex A  to this letter, relevant portions of the third -party market information sources
cited in the Registration Statement,

U.S. Securities and Ex change Commission
March 16, 2018
Page 2

marked to highlight the applicable portions or sections containing the updated st atements or statistics cited and
cross -referenced to the relevant locations in the Registration Statement. Because the third -party materials are in
Chinese, the Company has prepared English translations of the applicable portions of the third -party materia ls to
facilitate the Staff’s review.
The Company will commence the marketing activities in connection with the offering on March  19, 2018. The
Company plans to request that the Staff declare the effectiveness of the Registration Statement on or about
Marc h 28, 2018, and will file the joint acceleration requests in time before the requested acceleration time. The
Company would greatly appreciate the Staff’s continuing assistance and support in meeting its timetable.

2

U.S. Securities and Ex change Commission
March 16, 2018
Page 3

If you have any questions regarding the Registration Statement, please contact the undersigned by phone at
+852- 3740-4863 or via e -mail at julie.gao@skadden.co m or Hoffman Cheong, the audit engagement partner at
Erns t  & Y oung Hua Ming LLP, by telephone at +8610 -5815-2388 or via email at Hoffman.Cheong@cn.ey.com.
Erns t  & Y oung Hua Ming LLP is the independent registered public accounting firm of the Company.

 V ery truly yours,

/s/ Z. Julie Gao
Z. Julie Gao
Enclosures

cc: Robin Y anhong Li, Chairman of the Board of Directors, iQIY I, Inc
Dr. Y u G ong, Chief Ex ecutive Officer, iQIY I, Inc.
Xiaodong Wang, Chief Financial Officer, iQIYI, Inc.
Will H. Cai, Esq., Partner, Skadden, Arps, Slate, Meagher  & Flom LLP
Hoffman Cheong, Partner, Ernst  & Y oung Hua Ming LLP

Li He, Esq., Partner, Davis Polk  & W ardwell LLP

3