Wolfpack Research · research-note
iQIYI, Inc. (IQ)
37 pages · 3 arc beats · 2 loops
iQIYI, Inc. (IQ)
Wolfpack Research · 2020-04 arc beats above · slides in the middle · loops below · scroll → 2 LOOPS
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Deck intelligence map
3 coverage by narrative range · generated from this deck JSON
Narrative range 29 total
Metadata
Components
Metrics
Tools
Frameworks
Beats
Loops
The Monster 4 slides 100% 4/4 slides 100% 4/4 slides · 29 hits — 0/4 slides
— 0/4 slides
100% 4/4 slides 100% 4/4 slides 75% 3/4 slides The Struggle 15 slides 100% 15/15 slides 100% 15/15 slides · 114 hits — 0/15 slides
— 0/15 slides
73.3% 11/15 slides 100% 15/15 slides 40% 6/15 slides The Victory 10 slides 100% 10/10 slides 100% 10/10 slides · 69 hits — 0/10 slides
— 0/10 slides
60% 6/10 slides 100% 10/10 slides — 0/10 slides
Slide inventory
37 every slide · same image gating as the playbook
01
The report uses a 'short-seller' investigative tone, specifically referencing Luckin Coffee as a precedent for Chinese accounting fraud.expose_contradiction
02
The slide uses a sarcastic closing remark ('good Luckin') to imply fraudulent behavior similar to Luckin Coffee.name_villain
Open slide detailBeat · The Monster
03
The slide uses a forensic accounting approach to compare claimed vs. actual user data.expose_contradiction
04
The slide uses a combination of a quantitative table to show data discrepancy and a narrative argument to suggest fraudulent activity (click farms) based on geoexpose_contradiction
05
The table highlights specific low-population regions appearing in top-10 rankings, which the author argues is statistically improbable.expose_contradiction
06
The slide uses a line chart to visualize DAU trends and a table to compare specific growth metrics, directly challenging the subject's reported data.expose_contradiction
Open slide detailBeat · The Struggle
07
This is a forensic research note alleging accounting fraud via non-monetary barter transactions.expose_contradiction
Open slide detailBeat · The Struggle
08
The slide uses forensic accounting to highlight potential fraud in revenue reporting.expose_contradiction
Open slide detailBeat · The Struggle
09
The slide uses a conceptual chart to frame the argument before presenting the actual data (which is referenced but not shown on this specific page).expose_contradiction
Open slide detailBeat · The Struggle
10
The slide uses a 'fraud-exposure' framework to highlight discrepancies in financial reporting.expose_contradiction
11
The slide uses primary survey data to challenge the company's financial reporting practices.expose_contradiction
12
The slide provides empirical evidence for partnership-based membership acquisition, supporting a broader argument about potential revenue inflation.analyze_data
13
The slide uses a dual-axis chart to show the divergence between ARPU and gross margin following the start of dual memberships in 2Q18.expose_contradiction
14
Includes footnotes and a table excerpt from a 20-F filing with a red box highlighting the disputed deferred revenue line item.expose_contradiction
15
The slide uses financial statement analysis to challenge the validity of IQ's reported investment figures.expose_contradiction
16
Includes a table of initial capital contributions and a footnote referencing a regulatory disclosure.analyze_data
Open slide detailBeat · The Struggle
17
Includes a footnote with a URL to the original regulatory filing.appendix
Open slide detailBeat · The Struggle
18
Includes both English and Chinese descriptions of the transaction terms and a post-transaction cap table.analyze_data
Open slide detailBeat · The Struggle
19
The slide uses financial data to argue that IQ's actual capital contribution does not match the claimed amount, as evidenced by the absence of corresponding APIexpose_contradiction
Open slide detailBeat · The Struggle
20
The slide uses two tables to highlight discrepancies in financial reporting between IQ and Wuhan DDMC.expose_contradiction
Open slide detailBeat · The Struggle
21
The slide uses a forensic accounting approach to highlight discrepancies between government filings and public company disclosures.expose_contradiction
Open slide detailBeat · The Victory
22
The slide uses red boxes to highlight iQIYI (or its subsidiary Zhong Yuan) in the SAIC industry reports to demonstrate revenue overstatement.expose_contradiction
Open slide detailBeat · The Victory
23
The slide highlights discrepancies between company-reported figures and local regulatory filings.analyze_data
Open slide detailBeat · The Victory
24
Includes a chart showing the stock price volatility of Jinya Tech following their attempted acquisition of Skymoons.expose_contradiction
Open slide detailBeat · The Victory
25
This page serves as a detailed disclosure/appendix page documenting specific legal and regulatory events.expose_contradiction
Open slide detailBeat · The Victory
26
The slide uses a screenshot of the State Administration of Press, Publication, Radio, Film and Television of The People's Republic of China to prove Skymoons onexpose_contradiction
Open slide detailBeat · The Victory
27
Includes a table of game releases and narrative debunking of CEO claims regarding Skymoons' technical capabilities.expose_contradiction
Open slide detailBeat · The Victory
28
The slide uses evidence from Chinese ICP registration records to contrast the original Skymoons entity with the one acquired by IQ.expose_contradiction
Open slide detailBeat · The Victory
29
The slide uses a direct quote from a 20-F filing to contrast with a contractual requirement, alleging management dishonesty.expose_contradiction
Open slide detailBeat · The Victory
30
The slide highlights a potential circular transaction or inflated pricing scheme between IQ and its partner DDMC.expose_contradiction
Open slide detailBeat · The Victory
31
Includes footnotes referencing specific corporate announcements and industry pricing data.analyze_data
32
The slide uses a hypothetical scenario to demonstrate how DDMC's gross margin would be significantly lower if iQiyi did not pay a premium over standard TV statipreempt_rebuttal
33
The slide uses data to support an allegation of financial fraud/revenue inflation.expose_contradiction
34
Includes a screenshot of Netflix's Consolidated Statement of Cash Flows to highlight the 'Additions to streaming content assets' line item.expose_contradiction
35
The slide uses red boxes to draw attention to specific line items in the cash flow statement that are being reclassified.expose_contradiction