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  "documentTitle": "iQIYI, Inc. (IQ)",
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  "presentationDate": "2020-04-07 00:00:00",
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  "notes": "Includes footnotes and a table excerpt from a 20-F filing with a red box highlighting the disputed deferred revenue line item.",
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      "text": "By comparing the public filings of IQ and Wuhan DDMC (Xin’ai’s parent company) we conclude that the deferred revenue recorded by IQ is fraudulent and no non-cash contribution actually exists.",
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      "text": "Red box highlighting: (vi) The balance as of December 31, 2018 mainly represents deferred revenue in relation to content distribution...",
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      "text": "deferred revenue: $110 million",
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      "text": "IQ created ~$110 million of deferred revenue by overstating its purported contribution to its Xin'ai Sports (iQIYI Sports) JV.",
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      "text": "The balance as of December 31, 2018 mainly represents deferred revenue in relation to content distribution, licenses of intellectual property and traffic support services to be provided to one of the Group’s equity investees. — iQIYI 2018 20-F",
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      "text": "Amounts due to related parties table showing 2017/2018 RMB and 2018 USD figures.",
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      "kind": "title",
      "text": "Xin'ai Sports (iQIYI Sports): $110 Million of Revenue Inflation",
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