Research analysts who have asked questions during Baidu earnings calls.
AY
Alex Yao
JPMorgan Chase & Co.
7 questions for BIDU
Also covers: BABA, TCOM, TME +1 more
GY
Gary Yu
Morgan Stanley
7 questions for BIDU
Also covers: BABA
LK
Lincoln Kong
Goldman Sachs Group, Inc.
7 questions for BIDU
Also covers: BILI, IQ, NTES +3 more
TC
Thomas Chong
Jefferies Financial Group Inc.
7 questions for BIDU
Also covers: ATHM, BABA, BEKE +22 more
AY
Alicia Yap
Citigroup
6 questions for BIDU
Also covers: BABA, BZUN, DADA +10 more
Wei Xiong
UBS
4 questions for BIDU
Also covers: BZ, DADA, TCOM +2 more
XZ
Xiaomeng Zhuang
Bank of America Securities
4 questions for BIDU
MZ
Miranda Zhuang
Bank of America Merrill Lynch
3 questions for BIDU
Also covers: BILI, NTES
WZ
Wei Zhong
UBS Group AG
2 questions for BIDU
JL
James Lee
Mizuho Securities
1 question for BIDU
Also covers: ABNB, BABA, CART +5 more
Z
Zhengyu
UBS Group AG
1 question for BIDU
Recent press releases and 8-K filings for BIDU.
Baidu's Kunlunxin Preparing for Domestic Listing
BIDU
New Projects/Investments
Delisting/Listing Issues
- Baidu's Kunlunxin is reportedly among major firms fast-tracking or preparing domestic AI and chip listings.
- These listings are part of Beijing's efforts to develop local alternatives to advanced U.S. technology.
7 days ago
Baidu's Apollo Go Secures Dubai Driverless Testing Permit and Launches Operations Hub
BIDU
Product Launch
New Projects/Investments
- Baidu's Apollo Go has secured Dubai's first driverless vehicle trial permit, allowing it to operate fully autonomous vehicles without a safety driver on designated public roads.
- This permit paves the way for Apollo Go to launch a fully autonomous commercial ride-hailing service in Dubai as early as the first quarter of 2026.
- Apollo Go also established its first overseas operations and management hub, Apollo Go Park, in Dubai, with plans to expand the fleet to over 1,000 fully driverless vehicles.
- As of October 31, 2025, Apollo Go has logged over 240 million autonomous kilometers, with 140 million in fully driverless mode, and completed more than 17 million cumulative rides.
8 days ago
Baidu's AI Chip Unit Kunlunxin Files for Hong Kong IPO
BIDU
New Projects/Investments
Listing Issues
- Baidu’s AI chip unit, Kunlunxin, has confidentially filed for a Hong Kong IPO that could raise up to $2 billion, though some scenarios under consideration could set the IPO size closer to about $1 billion.
- Kunlunxin, which was spun out in 2021 and remains majority-owned by Baidu, designs powerful AI accelerators and data-center chips to support Baidu’s services and contribute to China's semiconductor self-reliance.
- The planned listing aims to supply capital to accelerate R&D, scale production, and pursue strategic partnerships.
- Following the IPO reports, Baidu’s Hong Kong-listed shares (HK:9888) rose approximately 0.5%.
8 days ago
Baidu Announces Proposed Spin-off and Separate Listing of Kunlunxin
BIDU
M&A
New Projects/Investments
Delisting/Listing Issues
- Baidu, Inc. announced a proposed spin-off and separate listing of Kunlunxin (Beijing) Technology Co., Ltd., a non-wholly owned subsidiary specializing in AI computing chips, on the Main Board of the Hong Kong Stock Exchange.
- A confidential listing application form (Form A1) was submitted to the Hong Kong Stock Exchange on January 1, 2026.
- The spin-off aims to independently showcase Kunlunxin's value, attract investors focused on the AI chip sector, and enhance its market profile and financing channels.
- Following the completion of the proposed spin-off, Kunlunxin is expected to remain a subsidiary of Baidu.
- The proposed spin-off is subject to various approvals, including from the HKEX and the China Securities Regulatory Commission, and there is no assurance it will occur or when it may take place.
Jan 2, 2026, 11:02 AM
Baidu Announces Proposed Spin-off of Kunlunxin
BIDU
Delisting/Listing Issues
New Projects/Investments
M&A
- Baidu (NASDAQ: BIDU) announced a proposed spin-off and separate listing of H shares of Kunlunxin (Beijing) Technology Co., Ltd., a non-wholly owned subsidiary, on the Main Board of the Hong Kong Stock Exchange.
- The proposed spin-off aims to independently showcase Kunlunxin's value, attract investors focused on the AI chip sector, enhance its market profile, and broaden financing channels.
- Following the completion of the proposed spin-off, Kunlunxin is expected to remain a subsidiary of Baidu.
- The spin-off is subject to various conditions, including approvals from the HKEX and the China Securities Regulatory Commission, and there is no assurance that it will take place.
Jan 2, 2026, 12:30 AM
Baidu's AI Chip Unit Kunlunxin Files for Hong Kong IPO
BIDU
Delisting/Listing Issues
New Projects/Investments
- Baidu's AI chip arm, Kunlunxin, confidentially filed for a Hong Kong Main Board listing on Jan. 1.
- This move aims to establish Kunlunxin as a separately listed subsidiary, with a prior funding round valuing it at approximately 21 billion yuan (roughly $3 billion).
- While Kunlunxin is expanding to outside customers, Baidu remains its principal buyer.
- Following the announcement, Baidu's shares increased by roughly 5.6%.
Jan 1, 2026, 11:23 PM
Baidu's Kunlunxin Plans Hong Kong IPO
BIDU
New Projects/Investments
Guidance Update
Revenue Acceleration/Inflection
- Baidu's AI chip unit, Kunlunxin, is planning an initial public offering (IPO) in Hong Kong, with a listing application expected as early as Q1 2026 and completion by early 2027.
- Kunlunxin is currently valued at around $3 billion (21 billion yuan) and recently raised over 2 billion yuan in funding from China Mobile and other private investors.
- The unit projects revenue to grow to more than 3.5 billion yuan in 2025, aiming for break-even after a net loss of approximately 200 million yuan on revenue of about 2 billion yuan in 2024.
- This IPO plan is part of China's broader strategy to reduce reliance on US semiconductor technology, and Baidu's shares surged by as much as 7.8% following the news.
Dec 5, 2025, 8:15 AM
Baidu Initiates Large-Scale Layoffs Following Q3 2025 Financial Loss
BIDU
Layoffs
Earnings
Demand Weakening
- Baidu has initiated large-scale layoffs across multiple business units, with reductions potentially affecting up to 40% of staff in some teams, following a significant financial loss in the third quarter of 2025.
- The company reported a 7% decline in total revenue and an 18% drop in online advertising revenue in Q3 2025.
- These layoffs primarily impact the mobile ecosystem division, while roles related to artificial intelligence and cloud computing are largely protected, aligning with Baidu's strategic shift toward AI development.
- Despite investments, Baidu's Ernie Bot has struggled with user adoption, trailing competitors in the AI chatbot market.
Nov 27, 2025, 2:14 PM
Baidu: Hang Seng Index Plunges Amid Tech Sell-off
BIDU
Demand Weakening
- The Hang Seng Index plunged to its lowest level in five weeks, closing at 25,220 with a weekly decline of over 5%, marking its worst week since April 2025.
- Baidu was among the major tech companies that experienced significant losses as the Hang Seng Tech Index fell sharply.
- The market downturn was attributed to concerns over stretched valuations in the AI sector, mixed US jobs data, and uncertainty about Federal Reserve rate cuts.
- The Hang Seng Index is currently 7.58% off its 52-week high from October 2025, but remains up 33.62% from its 52-week low in January 2025.
Nov 21, 2025, 10:35 AM
Baidu announces Third Quarter 2025 Results
BIDU
Earnings
New Projects/Investments
Demand Weakening
- Baidu reported total revenues of RMB31.2 billion ($4.38 billion) for Q3 2025, a 7% decrease year over year, resulting in a net loss attributable to Baidu of RMB11.2 billion ($1.58 billion) and diluted loss per ADS of RMB33.88 ($4.76).
- The GAAP loss was primarily due to an impairment of long-lived assets of RMB16.2 billion ($2.27 billion). On a non-GAAP basis, net income attributable to Baidu was RMB3.8 billion ($530 million), with diluted earnings per ADS of RMB11.12 ($1.56).
- Revenue from AI-powered businesses demonstrated strong growth, increasing over 50% year-over-year to approximately RMB 10 billion in Q3 2025, driven by AI Cloud Infra (up 33% to RMB 4.2 billion) and AI-native Marketing Services (up 262% to RMB 2.8 billion).
- Operationally, Baidu unveiled its ERNIE 5.0 omni-modal foundation model and saw its autonomous ride-hailing service, Apollo Go, provide 3.1 million fully driverless operational rides in Q3 2025, with year-over-year growth accelerating to 212%.
Nov 18, 2025, 2:00 PM
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