By Nicholas G. Miller
Iqiyi will buy back up to $100 million of its shares in the next 18 months.
The company expects to fund the repurchase with its existing cash balance.
The company also submitted an application to list shares on the Hong Kong Stock Exchange. It said the proposed listing aims to enhance its access to the capital market in Hong Kong, broaden its investor base by increasing exposure to Asia-based institutional and retail investors, and strengthen its international profile.
Iqiyi also said it recently launched open commercial testing for Nadou Pro, its proprietary AI agents designed for long-form video generation.
The stock jumped 14% to $1.37 in premarket trading.
Write to Nicholas G. Miller at nicholas.miller@wsj.com.
(END) Dow Jones Newswires
March 30, 2026 06:38 ET (10:38 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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