Baidu (BIDU); HK 9888

[winston]

not vested

Chinese Stocks to Buy: Baidu (BIDU)

52-week range: $116.41 – 354.82

In its early days, the tech giant Baidu was known for its internet search engine and compared to Google — parent company Alphabet (NASDAQ:GOOG, NASDAQ:GOOGL).

In the past several years, Baidu has expanded operations especially into artificial intelligence and autonomous driving. It also retains a majority stake in iQIYI (NASDAQ:IQ), the Chinese market leader in online entertainment.

Baidu issued Q2 financials on Aug. 12. Top line grew by 20% from a year ago and was 31.4 billion RMB ($4.86 billion).

Baidu’s business currently consists of two main parts, Baidu Core (which includes AI Cloud, autonomous driving, mobile usage, and more) and iQIYI.

Of the total revenue, 24 billion RMB ($3.72 billion) came from Baidu Core, up 27% from a year ago. Revenue from iQIYI was 7.6 billion RMB ($1.18 billion), up 3% from last year.

Total non-GAAP net income of 5.4 billion ($830 million) RMB translated into non-GAAP diluted earnings per of 15.41 RMB ($2.39).

For the third quarter, management expects revenues to be between 30.6 billion RMB ($4.7 billion) and 33.5 billion RMB ($5.2 billion), implying a potential growth rate of 8% to 19%.

So far in 2021, BIDU stock is down about 22%. The shares are trading at a forward price-earnings of 14.3 and price-sales ratio of 3.1.

Potential buy-and-hold investors should research the company further with a view to buy between $155 and $160.

Source: Investor Place

[winston]

not vested

Baidu loss widens to 16.5b yuan

by Aiden He

China's search engine giant Baidu (9888) widened its third-quarter net loss by 27.4 times to 16.56 billion yuan (HK$20.21 billion) over the last quarter as it booked an 18.9 billion yuan non-cash, mark-to-market loss in long-term investments.

Revenue for the quarter rose 13 percent year-on-year, or 2 percent quarter-to-quarter to 31.92 billion yuan, beating estimates.

Its online video platform iQIYI, whose subscribers reached 104 million in September, generated 6 percent more revenue over last year to 7.6 billion yuan in the period.

The Chinese internet giant expects its revenues to be between 31 billion yuan and 34 billion yuan in the fourth quarter, representing a growth rate of 2 percent to 12 percent year on year.

Source: The Standard

https://www.thestandard.com.hk/section- ... 16.5b-yuan

[winston]

not vested

Baidu beats quarterly revenue estimates on robust ad sales, AI

by Tiyashi Datta & Akash Sriram

Helped by stronger advertising sales and demand for its artificial intelligence (AI) and cloud products.

"Baidu Core delivered another solid quarter, powered by our AI cloud revenue growing 73% year-over-year.

Source: Reuters

https://www.theedgemarkets.com/article/ ... -estimates

[winston]

Brokers' Post-result Ratings, TPs, Views on BIDU-SW (09888.HK) (Table)

Four brokers' ratings and TPs on BIDU-SW (09888.HK) as compiled by our reporters:

Brokers│Ratings│TPs ($)
Jefferies│Buy│281->264
JPMorgan│Overweight│250
Daiwa│Buy│240->238
HSBC Global Research│Buy│195->190

Six brokers' ratings and TPs on Baidu, Inc. (BIDU.US) as compiled by our reporters:

Brokers│Ratings│TPs (US$)
Jefferies│Buy│289->272
JPMorgan│Overweight│260
Citigroup│Buy│254
UBS│Buy│240
Morgan Stanley│Equalweight│200
HSBC Global Research│Buy│200->195

Related NewsBIDU-SW 3Q Revenue Gains 13% YoY to RMB31.92B, Slightly Beating Forecast

-------------------------------------------

Brokers│Views
Jefferies│strategy clear, may cut through headwind
JPMorgan│QoQ result in-line, cost basis growth faster than expected
Citigroup│QoQ rev in-line, earnings beat
Daiwa│ad biz likely facing headwind
UBS│QoQ result, outlook in line with lower forecasts
Morgan Stanley│QoQ result in-line, 4Q result uncertain
HSBC Global Research│QoQ result in-line, ad biz outlook still facing headwind

Source: AAStocks Financial News

[winston]

vested

Baidu plans to launch its driverless taxi service in 100 cities by 2030, as the Chinese search giant looks to diversify its business beyond advertising.

Currently, Baidu operates its Apollo Go robotaxi service in five Chinese cities.

Users can hail an autonomous car via an app.

The company wants to expand Apollo Go to 65 cities by 2025 and then 100 cities by 2030, Baidu CEO Robin Li said in an internal letter that was made public.

Source: Phillips

[winston]

vested

Baidu Inc (9888 HK / BIDU US) - Pressure on near-term outlook while pressing on with long-term initiatives

Baidu’s 3Q21 results were broadly in-line.

Total revenue increased by 13% YoY to RMB31.9b, which was largely in-line with consensus and the mid-point of guidance.

In terms of Baidu Core, revenue grew 15% YoY; non-online marketing revenue grew 76% YoY on the back of cloud and other AI-powered businesses.

Baidu has guided for 4Q21 revenue to be between RMB31.0b – RB34.0b, which represents a growth rate of 2-12% YoY, and this assumes Baidu Core revenue growth of 5-16% YoY.

On advertising, similar to comments made by Tencent, management believes that the subdued sentiment seen in 3Q will likely be a multi-quarter occurrence. Thus, in the near-term, we could expect some margin pressure due to the macro impact on ads as well as the ongoing investment in new businesses.

Management struck a relatively optimistic tone around the recent regulatory guidelines encouraging the opening of internet platforms, and highlighted that searchable third-party SKUs from China’s top e-commerce sites reached almost 1b in Sep’21 with GMV rapidly expanding, though revenue contribution directly from transactions is not expected to be large.

While the soft advertising outlook might weigh on sentiment, we believe that Baidu is well-positioned across a number of secular initiatives with strong execution thus far.

Following adjustments and more conservative assumptions, we reduce our FV from HKD263 to HKD234 (9888 HK) / USD272 to USD242 (BIDU US). BUY.

Source: OCBC

[winston]

vested

G Sachs: BIDU-SW (09888.HK) Ad Rev. Growth Healthy, Cloud Rev. Growth Faster than Sector

Goldman Sachs remained optimistic on the long-term growth outlook of BIDU-SW (09888.HK), despite the short-term uncertainties induced by the macro weakness and COVID-19 pandemic.

The broker believed that the stable addition of MAUs, expansion of mobile eco-system and improved eco-system inter-connectivity will be able to drive healthy advertising revenue growth .

Goldman Sachs further highlighted that, BIDU-SW's cloud revenue growth has been outpacing those of its peers, with its non-IaaS revenue likewise expanding at an outstanding pace.

The broker rated BIDU-SW at Buy, with a target price of $262.

Source: AAStocks Financial News

[behappyalways]

Baidu unveils China's first metaverse platform ‘Xi Rang’
https://m.youtube.com/watch?v=ME9gsUI_bZg

[winston]

not vested

b]BIDU-SW's JiDU to Unveil 1st Concept Car Next Yr; Auto Robots To be Churned out by 2023[/b]

BIDU-SW (09888.HK)'s "JiDU" is scheduled to unveil its first concept vehicle in 1H22 and deliver the first model of mass-produced automotive robot in 2023, expressed the company's founder, chairman and CEO, Robin Li, at the AI Developer Conference, having immense confidence in the future development of the company.

Source: AAStocks Financial News

[winston]

not vested

Baidu's Jidu Auto to mass produce its 'robot' electric vehicles in 2023

Mass production of its first "robot" electric vehicles (EV) in 2023.

Source: Reuters

https://www.reuters.com/technology/baid ... 021-12-27/