Baidu (BIDU), HK 9888; 02 (Nov 22 - Dec 26)

[winston]

not vested

Baidu: Why It's One Of The Best Chinese Stocks To Own

by SAM QUIRKE

Key Points

Baidu's income is at its highest level since 2021.

It's well-positioned to be an AI market leader in China.

Morgan Stanley just upgraded shares and sees at least a 35% upside.

Source: Market Beat

https://www.marketbeat.com/originals/ba ... 4A8F75D6B5

[winston]

Baidu Inc (9888 HK)
2Q23 Results Preview: Steady Recovery In Ad Revenue; Poised To Benefit From AIGC

Baidu’s 2Q23 results will be released in mid-August.

We expect revenue to ramp up by 14.6% yoy, mainly anchored by the steady recovery in ad revenue and resilient AI Cloud revenue growth.

In view of Baidu’s strategic investment in AIGC development, we are optimistic on the monetisation potential of the company's LLM following regulatory approval.

Maintain BUY with a higher target price of HK$192.00 (US$198.00).

Source: UOBKH

https://research.uobkayhian.com/content ... a6cd372bf5

[winston]

vested

China’s Baidu edges closer to first production EV after Geely venture Jidu gets nod from Beijing

Baidu’s Jiyue 01 smart SUV included in a new catalogue of EV models compiled by China’s Ministry of Industry and Information Technology

The SUV will be built by Volvo Cars owner Geely, Baidu’s EV partner

by Daniel Ren

Source: SCMP

https://www.scmp.com/business/china-bus ... e=homepage

[winston]

not vested

Baidu’s Results May Shake Optimism Over China AI: Tech Watch

by Jeanny Yu

Expectations have been lowered for the second quarter and beyond for Baidu.

Source: Bloomberg

https://finance.yahoo.com/news/baidu-re ... 04077.html

[winston]

vested

China’s Baidu beats quarterly revenue estimates, cheers generative AI progress

Baidu’s revenue for the quarter ended June 30 was 34.06 billion yuan (S$6.3 billion), compared with analysts’ average estimate of 33.28 billion yuan.

The company reported adjusted profit of 22.55 yuan per American Depositary Share (ADS), compared with profit of 15.79 yuan per share a year earlier. This also exceeded analysts’ average estimate of 16.86 yuan per ADS,

Source: Reuters

https://www.businesstimes.com.sg/compan ... i-progress

[winston]

vested

Baidu Inc (9888 HK)
2Q23: Strong Earnings Beat Anchored By Solid Ad And Cloud Recovery

Baidu’s 2Q23 results came in with strong beat on profits.

Revenue grew 15% yoy to Rmb34b, 2.3% above the street’s estimate.

Gross margin expanded 3.7ppt yoy to 52.5%, above consensus expectation.

Non-GAAP operating profit was Rmb7.3b, up 33% yoy, while non-GAAP operating margin came in at 22%, beating our estimate.

Non-GAAP net profit improved 44% yoy to Rmb8b as a result of operating leverage, 38% above
consensus estimate.

Maintain BUY. Target price: HK$192.00 (US$198.00).

Source: UOBKH

https://research.uobkayhian.com/content ... d0c217236d

[winston]

vested

Baidu Inc (9888 HK / BIDU US) - Steady in 3Q23, awaiting regulatory approval for AI roll-out

We are positive on Baidu’s outlook, seeing several tailwinds for the company in FY23:
(i) post-Covid economic recovery benefiting Baidu’s advertising verticals,
(ii) relatively low revenue base in FY22 and low expectations for FY23 revenue growth,
(iii) upside to earnings on monetisation of ERNIE bot, and
(iv) relatively more attractive (lower) valuations compared to peers.

We believe Baidu is uniquely positioned to benefit directly from the growing demand for generative AI technologies, by having significant exposure to both digital advertising and cloud infrastructure and computing businesses. BUY.

Source: OCBC

[winston]

vested

Earnings Alert: 2Q23 earnings beat market expectations by 30%, ad growth momentum to remain robust in 2H23

2Q23 earnings beat market expectations by 30%, supported by stronger online marketing revenue growth of 15%

Ad growth momentum remains robust in 2H23 driven by increased ad demand from key offline verticals

Revised up FY23F-FY25F earnings by 16%/13%/9%, factoring in higher ad growth and improved operating efficiency

Maintain BUY with higher TPs of HK$204/US$206

We roll forward our valuation base to FY24F and derive our H-share TP is based on SOTP valuation:
(1) Baidu Core: 12x on FY24F non-GAAP net profit (HK$147);
(2) cloud and autonomous driving; 3x FY24F P/S (HK$37) and
(3) market value of major listed investees (HK$20).

Source: DBS

https://www.dbs.com/insightsdirect/comp ... ecid=15734

[winston]

vested

BIDU-SW's Apollo Go Provides Total of Over 4M Times of Services

BIDU-SW (09888.HK) 0.000 (0.000%)'s self-driving mobility service platform "Apollo Go" has so far provided more than 4 million times of services and has become the world's largest self-driving mobility service provider, as the company's founder, chairman cum CEO Robin Li revealed at the Baidu World Congress 2023.

He said that future AI native applications must be multimodal, viewing that unmanned driving is a typical application of visual macro-models to reconstruct the physical world.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news

[winston]

vested

BOCOMI Expects Baidu (BIDU.US) 3Q Core Rev. to Lift 5% YoY, Adj. OP at RMB5.9B

2023/10/24

BOCOMI issued a research report expecting Baidu, Inc. (BIDU.US)'s core business to be under pressure in 3Q23, and to regain growth momentum in 4Q23.

BOCOMI expected Baidu's 3Q23 core revenue to increase by 5% YoY to RMB26.4 billion, as compared with its previous estimation of a 12% increase.

The decreased estimation is mainly due to the dull season for e-commerce advertisements and soft demand for intelligent transportation projects.

Related News: CITIC Securities Projects BIDU-SW (09888.HK) 3Q Rev. to Grow 5%, Non-GAAP NP RMB6.1B

Adjusted operating profit is expected to be RMB5.9 billion, corresponding to a profit margin of 22%, down about 3 ppts, mainly due to the slowdown in advertising revenue growth and the increase in AI-related research and development expenses.

BOCOMI cut its target price on Baidu, Inc. from US$170 to US$166, and its target price on BBIDU-SW (09888.HK) from $165 to $161.

Baidu's core business is expected to continue to have good long-term growth prospects under the continuous improvement of Ernie 4.0 and product capabilities.

The current price is correspond to the 10x P/E ratio in 2024. BOCOMI kept rating at Buy.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news