On August 14, iqiyi responded to the investigation by the SEC, saying, “we have been actively cooperating with all the regular inquiries and investigations of the sec. At the same time, we have also taken the initiative to engage professional consultants for internal independent review. We are confident in the stable and rigorous corporate governance structure and internal control process that have been continuously built in the past 10 years. We believe that the results of the survey will once again show all investors the soundness and responsibility of iqiyi. Iqiyi will continue to bring better content and services to the vast number of users. ” < / P > < p > prior to this, iqiyi announced that the company was investigated by the securities and Exchange Commission (SEC), asking for financial records since January 2018, and mentioning the financial content mentioned by short position Wolfpack. Previously, the short report said iqiyi increased its revenue in 2019 by about RMB 800-1.3 billion, and overestimated the number of users by about 42% – 60%.