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  "documentTitle": "iQIYI, Inc. (IQ)",
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      "text": "To us, even these horrific losses are meaningless, considering the abundance of fraud we have already discussed. However, if what we’ve said thus far doesn’t concern you, all we can say is “good Luckin”",
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      "text": "net loss: RMB 10.3 billion",
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      "text": "IQ is a mature company. It will be 10 years old this month and has lost money for 10 consecutive years. IQ's losses are rapidly accelerating, unlike its growth. IQ lost RMB 10.3 billion in 2019, RMB 1.2 billion more than 2018. Meanwhile, paying subscriber growth in 4Q19 was its lowest ever at only 0.7%. IQ's advertising revenue was down -15% in 2019 and it still has a negative gross margin. To us, even these horrific losses are meaningless, considering the abundance of fraud we have already discussed. However, if what we've said thus far doesn't concern you, all we can say is \"good Luckin\"",
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