iQIYI launches new all-in-one VR headset QIYU 3, further expanding its premium VR gaming ecosystem

iQIYI Inc.an innovative market-leading online entertainment service in China, today launched its latest flagship virtual reality (VR) headset, the QIYU 3, as the Company further strengthens its premium VR digital entertainment ecosystem. The launch event of the product, which was live-streamed to millions of fans via extended reality (XR) technology, showcased the revolutionary features of the QIYU 3 and unveiled a number of free games for the device.

As a flagship VR product, QIYU 3 represents major technical breakthroughs in several areas:
• The headset features a dual-screen solution that is designed specifically for VR. With two RGB sub-pixel arrangement-based Fast LCDs, the device has a resolution of 4320*2160, a true 4K+ level in native resolution. The refresh rate can still reach 90Hz with the support of two built-in display driver chips;

• The QIYU 3 is powered by Qualcomm Technologies' Snapdragon XR2, a platform designed exclusively for VR / AR and is also the top performing mobile VR chipset. Coupled with 8GB DDR4 RAM, the XR2 brings high performance for games and other digital entertainment in VR;

• The headset features a proprietary Q-Light-powered 6DoF interactive system, which enables head-hand 6DoF spatial positioning and a millimeter-level positioning precision for controllers;

• QIYU 3 is supported by continuous pupillary distance adjustment technology with an indication precision of up to 1mm. The pupillary distance can be adjusted from 58mm to 72mm, allowing users across genders and age groups to wear the device with comfort;

• QIYU 3 also features iQUT future cinema, which provides users with a 2,000-inch screen, equivalent to the size of 20 80-inch TVs. With support for HDR, the device enables more nuanced color rendering, making images more detailed and natural. Tapping into iQIYI's massive content library, QIYU 3 will also be able to offer a wide range of the latest films and TV shows. Furthermore, iQIYI provides QIYU 3 with 4K 3D movies and 8K videos at 60fps with a bitrate of 13M, an industry-leading picture quality.

A Launch Event Powered by XR Live Streaming
The launch event for QIYU 3 matches in creativity of the product it launched. Through XR technology, the Company turned an empty broadcasting room into a virtual space full of cyberpunk elements and delivered a surreal audio-visual experience. With its tremendous visual impact, the immersive XR event presented an unprecedented visual feast.
Commenting on the event, Xiong Wen, CEO of the Company's VR subsidiary iQIYI Intelligence said: "In the real world, everyone has unattainable dreams. But the VR world allows us to easily fulfill dreams such as growing wings and flying or meeting with departed loved ones. This is the charm of the Metaverse. Our mission is to create a virtual world of unbounded possibilities for our users. We still have a long way to go, and QIYU 3 is a great start."

30 Premium Free Games and Continued Metaverse Exploration
Early purchasers of QIYU 3, a device designed for avid gamers, will receive 30 premium games for free. QIYU VR also plans on giving out free premium games to QIYU 3 users every month.
QIYU 3's first games cover a range of genres including leisure, shooters, and puzzle, with popular VR games such as Arizona Sunshine, Swarm, Mercenary:  Silicon Rising, Zombieland: Headshot Fever, and All-In-One Sports VR.
The event also saw the unveiling of Metaverse, an interactive VR sci-fi drama co-produced by QIYU VR and the School of Animation and Digital Arts at the Communication University of China. Meanwhile, QIYU VR has also developed a virtual stage performance production, QIYU Show, where users can watch the performance of and interact with their favorite virtual idols.

QIYU 3 will be available on China's mainstream e-commerce platforms JD.com and Tmall starting September 3. Existing QIYU users and iQIYI's subscribers can enjoy special member-only benefits.
In recent years, iQIYI has made significant investments in building a VR ecosystem. Since entering the VR field in 2016, QIYU VR has released four products in five years and achieved many world-firsts, including the first 4K all-in-one VR headset, the first exclusive custom-made iQUT future cinema, and the first to achieve 5G+8K VR live streaming capabilities. Looking ahead, iQIYI will further invest in content, platforms, and hardware as it cements its position as an industry leader that delivers premium multi-sensory experiences to users.

About iQIYI, Inc.
iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI's platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, partner-generated content and user-generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, live broadcasting, online games, IP licensing and online literature.