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

[winston]

not vested

China suspends autonomous driving permits after Baidu outage

The halt comes as a setback to a fast-growing industry that is estimated to be worth 83.1 billion yuan by 2030

The suspension of new licences prevents self-driving companies from adding new robotaxis to their fleets, starting a new test project or expanding to a new city.

It is not clear how long the suspension will last.

The share price of Baidu, Pony AI and WeRide dropped.

Apollo Go is the largest robotaxi provider in China, with hundreds of vehicles in more than a dozen cities.

Source: Business Times

https://www.businesstimes.com.sg/compan ... 0by%202030

[winston]

not vested

<Research>CLSA: Baidu, Inc. (BIDU.US) AI Cloud Infra Revenue Sees Robust Growth; Marketing Services Remain Subdued

CLSA foresaw Baidu, Inc. (BIDU.US)'s Baidu General Business (BGB) revenue for 1Q26 to fade 2.5% YoY to RMB24.8 billion, dragged by a more than 20% slump in marketing revenue.

However, revenue from AI-related businesses was projected to hike 39% YoY to RMB12.4 billion, accounting for 50% of BGB revenue.

Among them, AI cloud infrastructure (including chips) has become a new growth engine, on the back of a surge in inference workloads, with revenue adding more than 40% YoY.

The broker expected BGB's adjusted EBIT for 1Q26 to fall 32% YoY to RMB3.3 billion. Nevertheless, under meaningful headcount reduction measures, margins were estimated to start recovering QoQ.

Management anticipated that total BGB revenue will grow 1.8% YoY in 2Q26, with margins continuing to improve QoQ.

Progress on the spin-off plan for Baidu's Kunlunxin is moving along smoothly, and the company also plans to enhance shareholder returns through share buybacks and dividends.

CLSA maintained an Outperform rating on Baidu, Inc. with a TP of USD176.

Source: AASTOCKS Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

<Research>Citi: Kunlunxin Potential IPO and Proposed Div. This Yr Seen as Upside Catalysts for BIDU-SW

According to recent media reports, BIDU-SW (09888.HK) 's chip subsidiary Kunlunxin is applying for a listing in Hong Kong while also planning to list on Shanghai's STAR Market, Citi said in a research report.

The broker believes this is a common strategy among Chinese semiconductor companies and expects management to provide more details on the listing timetable and procedures during the 1Q earnings conference call to be held on May 18.

Related News UOB Kay Hian: AI Cloud Top Sub-sector in China Internet; BABA-W (09988.HK) Preferred

The broker also expects updates on the company’s full-stack AI product developments at Baidu Create 2026, slated for May 13-14.

Entering the 1Q earnings season, Citi forecasts that Baidu, Inc.’s (BIDU.US) strong AI cloud infrastructure revenue will grow 45% YoY.

Citi maintained its Buy rating on Baidu, Inc. (BIDU.US) with a target price of USD186.

Source: AASTOCKS Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN