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Baidu, Inc. is a leading AI-driven technology company primarily operating in mainland China. The company specializes in internet-based services, including online marketing, cloud computing, autonomous driving, and smart devices, while also offering online entertainment through its subsidiary iQIYI. Baidu leverages its advanced AI capabilities to power its diverse range of products and services.
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Baidu Core - Provides online marketing services, cloud computing solutions, intelligent driving technologies, and smart devices powered by AI.
- Online Marketing Services - Offers auction-based pay-for-performance (P4P) services, including search and feed marketing, as well as display advertisements.
- Cloud Services - Delivers cloud computing solutions, including data storage, processing, and analytics, leveraging AI capabilities.
- Intelligent Driving - Develops autonomous driving technologies and operates commercial autonomous vehicle services.
- Smart Devices - Markets Xiaodu smart devices powered by the DuerOS voice assistant.
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iQIYI - Operates as an online entertainment platform offering subscription-based memberships, online advertising, and content distribution.
- Membership Services - Provides access to premium content through subscription plans.
- Online Advertising Services - Displays advertisements on its entertainment platform.
- Content Distribution - Licenses and distributes original and third-party content, including professionally produced and user-generated content.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Robin Yanhong Li ExecutiveBoard | Chief Executive Officer (CEO) | Board Member of New Oriental Education & Technology Group Inc.; Board Member of Trip.com | Robin Yanhong Li is the Chief Executive Officer (CEO) of Baidu, Inc. since February 2004 and has been serving as the Chairman of the Board of Directors since January 2000. He previously served as President from February 2000 to December 2003 and is also a board member of New Oriental Education & Technology Group Inc. and Trip.com. | View Report → |
Dou Shen Executive | Executive Vice President | Trip.com Director since October 2019 ; iQIYI, Inc. Director since September 2019 ; Kuaishou Technology Director since April 2018 ; Beijing Xiaodu Interactive Entertainment Technology Co., Ltd. Director since January 2018 ; Beijing Xiaodu Interactive Entertainment Technology Co., Ltd. Chairman since September 2020 | Dou Shen serves as the Executive Vice President at Baidu since May 2019 and as the President of Baidu AI Cloud Group since May 2022. He has played a key role in advancing Baidu’s mobile and AI Cloud initiatives while also holding board positions at several leading companies. | |
Haifeng Wang Executive | Chief Technology Officer (CTO) | Haifeng Wang is the Chief Technology Officer (CTO) of Baidu since May 2019, and he has a distinguished history at the company including roles as Senior Vice President and Vice President after joining in 2010. | ||
Rong Luo Executive | Executive Vice President in charge of the Baidu Mobile Ecosystem Group (MEG) | Rong Luo transitioned from serving as CFO of Baidu until October 8, 2024 to his current role as Executive Vice President in charge of the Baidu Mobile Ecosystem Group, and he has a strong background in financial management with previous roles including CFO at TAL Education Group and eLong Inc. | ||
Shanshan Cui Executive | Senior Vice President | Shanshan Cui has been serving as the Senior Vice President at Baidu since May 2019, overseeing human resources and administrative functions. Previously, she was a founding member and led the search technology group after joining in January 2000, rejoining in December 2017 as Secretary General to the Organizational Culture Committee. | ||
Victor Zhixiang Liang Executive | Senior Vice President and General Counsel | Victor Zhixiang Liang has been a key figure at Baidu, serving as Senior Vice President and General Counsel since June 2011, and he previously served as Executive Assistant to the CEO from January 2013 to February 2018. | ||
James Ding Board | Independent Director | Managing Director at GSR Ventures | James Ding has served as an independent director at Baidu since August 2005 and holds key committee roles including Audit, Compensation (Chairman), and Corporate Governance and Nominating. He brings extensive experience from technology and entrepreneurship, notably through his current role as Managing Director at GSR Ventures. | |
Jixun Foo Board | independent director | Global Managing Partner at GGV Capital; Board member at XPeng Inc.; Board member at Hello | Jixun Foo has served as an independent director at BIDU since July 2019 and is a member of its audit and compensation committees. He brings extensive experience in technology investments from roles including Global Managing Partner at GGV Capital since 2006 and previous positions at Draper Fisher Jurvetson ePlanet Ventures and Hewlett Packard. | |
Sandy Ran Xu Board | Independent Director | CEO of JD.com; Director of Yonghui Superstores Co., Ltd. | Sandy Ran Xu has been serving as an Independent Director at Baidu since January 1, 2024. She brings extensive financial and leadership expertise, having served as CEO of JD.com since May 2023 and as CFO from June 2020 to May 2023, along with contributing as a director at Yonghui Superstores Co., Ltd.. | |
Xiaodan Liu Board | Independent Director and Chair of the Audit Committee | Managing Partner at FirstLight Capital ; CEO of Huatai United Securities (July 2012 to January 2017) ; Chairperson at Huatai United Securities (January 2017 to September 2019) ; Chairperson of the Board at AssetMark Financial Holdings, Inc. (2016 to 2020) ; Independent Director at China Pacific Insurance (Group) Co., Ltd. (since January 2021) ; Member of the M&A and Restructuring Committee of the CSRC (June 2012 to June 2016) | Xiaodan Liu joined BIDU as an independent director and chair of the audit committee on February 23, 2025. She brings extensive financial market experience, having served as managing partner at FirstLight Capital; CEO and Chairperson at Huatai United Securities; and held board roles at AssetMark Financial Holdings and China Pacific Insurance. | |
Yuanqing Yang Board | independent director | Chairman & CEO of Lenovo Group Limited; Director of Sureinvest Holdings Limited; Director of Taikang Insurance Group; Member of the International Advisory Council of the Brookings Institution | Yuanqing Yang has served as an independent director at Baidu since October 2015, contributing to its compensation and corporate governance committees. Previously, he has built a successful career as the Chairman and CEO of Lenovo Group Limited and held other leadership positions. |
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Baidu's online marketing revenue decreased 7% year-over-year to RMB 17.9 billion in Q4 , and management has not seen improvements due to challenges with SMEs and competition. What specific strategies are you implementing to revitalize your core advertising business, and when do you expect to see tangible results?
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Despite AI Cloud revenue growing 26% year-over-year in Q4 , can you provide more details on the current margins and how you plan to ensure sustainable profitability in AI Cloud moving forward?
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With the decision to open-source ERNIE 4.5 and make ERNIE bot free in response to competition like DeepSeek , how does Baidu plan to monetize its foundation models and recover its significant AI R&D investments?
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While Apollo Go provided approximately 1.1 million rides in Q4 and achieved 100% fully driverless operations in China , the path to profitability in your Robotaxi business remains unclear. What is your timeline and strategy for achieving profitability in autonomous driving, especially given the competitive landscape?
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Given that only 22% of search result pages contain AI-generated content , and with AI chatbots like DeepSeek and Doba offering search capabilities , how does Baidu plan to enhance its AI integration in search to maintain competitiveness and prevent user migration to other platforms?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
JOYY Inc. (YY Live) | 2025 | Baidu acquired JOYY Inc.'s live streaming business (YY Live) for approximately $2.1 billion, releasing $1.6 billion of escrow funds to support investments in its cloud and AI infrastructure. This move aligns with Baidu’s strategic focus on bolstering its AI and cloud capabilities. |
Ouster, Inc. (merger with Velodyne Lidar) | 2023 | Ouster, Inc. completed a merger with Velodyne Lidar, Inc. on February 10, 2023, where every share of Velodyne was converted into 0.8204 shares of Ouster, leading to specific allocations such as 2,000,975 and 10,718,890 shares to Baidu (Hong Kong) Limited and Baidu Holdings Limited, respectively. |
Recent press releases and 8-K filings for BIDU.
- Baidu, Inc. has filed a Form 6-K document for March 2025, detailing its compliance with relevant SEC reporting requirements.
- The document includes the Annual Report for the year ended December 31, 2024, prepared per the rules of The Stock Exchange of Hong Kong Limited.
- The report is authenticated by Interim Chief Financial Officer Junjie He, with the filing dated March 28, 2025.
- Baidu, Inc. has disclosed detailed terms for its debt issuances, including a US$2 billion zero coupon bond due 2032 that is exchangeable for ordinary shares of Trip.com Group Limited, and supplemental indentures for CNY7.5 billion 2.70% Notes due 2030 and CNY2.5 billion 3.00% Notes due 2035.
- The filings outline key provisions on exchange rights, including cash and physical settlement options and adjustments to the exchange property in response to specific events, which are critical details for bondholders and potential investors.
- Baidu introduced its new foundation models, ERNIE 4.5 (a native multimodal model) and ERNIE X1 (a deep-thinking reasoning model), enhancing capabilities in text, image, and video processing.
- The company announced that ERNIE Bot is now free for individual users ahead of schedule, while enterprise users can access ERNIE 4.5 via APIs on its AI Cloud platform, with competitive token pricing.
- The new models will be progressively integrated across Baidu’s product ecosystem, including Baidu Search and the Wenxiaoyan app, supporting broader AI-driven applications.
- Baidu announced the completion of a CNY10 billion offering of CNY-denominated senior unsecured notes, consisting of CNY7.5 billion of 2.70% notes due 2030 and CNY2.5 billion of 3.00% notes due 2035.
- The net proceeds are intended for general corporate purposes, including repayment of certain existing indebtedness and payments of interest.
- The offering was conducted in offshore transactions to non-U.S. persons, with the notes expected to be listed on the Hong Kong Stock Exchange on March 13, 2025.
- Baidu Inc. has completed an offering of US$2 billion in zero coupon exchangeable bonds due 2032, aimed at refinancing debt, paying interest, and supporting general corporate purposes.
- The bonds carry an initial exchange ratio of 1,107.0457 Trip.com shares per US$100,000, translating to an approximate exchange price of HK$702.13 per share, which represents a 43% premium over the delta placement price.
- The bonds were issued in offshore transactions under Regulation S and have been approved for trading on the Frankfurt Stock Exchange, broadening their investor base.
- Baidu, Inc. completed a US$2 Billion zero coupon exchangeable bonds offering, with bonds maturing on March 12, 2032 ( ).
- The bonds, issued in offshore transactions, carry no regular interest and are exchangeable into Trip.com Group Limited shares based on an initial ratio of 1,107.0457 shares per US$100,000 of principal ( ).
- The net proceeds from the offering are intended for the repayment of existing indebtedness and for general corporate purposes ( ).