Baidu Inc Stock Price, News & Analysis

Baidu, Inc. (NASDAQ: BIDU) unveiled significant upgrades to its Apollo intelligent driving solutions at Auto Shanghai 2021. The company aims to have Apollo pre-installed in one mass-produced car model monthly in the latter half of 2021. Baidu is expanding its Apollo Navigation Pilot (ANP) to 20 cities this year, targeting 100 by 2023. The Apollo platform has completed over 10 million kilometers of L4 autonomous driving tests. Baidu plans to recruit heavily for R&D to support Apollo's commercialization, alongside upgrades to intelligent cloud solutions for automakers.

Baidu, Inc. (Nasdaq: BIDU) announced the pricing of a Global Offering of 95 million Class A ordinary shares at HK$252.00 each, equivalent to approximately US$260.01 per American depositary share (ADS). Gross proceeds are projected at HK$23,940 million before expenses. The shares will trade on the Hong Kong Stock Exchange starting March 23, 2021. Baidu intends to use the proceeds to enhance its AI technology, expand its mobile ecosystem, and for general corporate purposes. An over-allotment option for 14.25 million additional shares has been granted to underwriters.

Baidu, Inc. (NASDAQ:BIDU) has received qualifications for 35 vehicles to demonstrate commercialized autonomous driving operations and 10 vehicles for driverless testing in Cangzhou, marking a significant milestone for Baidu Apollo's commercialization efforts. The company plans to explore various monetization strategies for its autonomous services, becoming the first in China to do so. With a fleet that has achieved over 524,000 kilometers of testing, Baidu aims to expand its Apollo Go Robotaxi service to 30 cities within three years, having already carried over 210,000 passengers in cities like Beijing, Changsha, and Cangzhou.

Baidu, Inc. (NASDAQ:BIDU) announced a significant milestone as Baidu Apollo won a bid for a 5G intelligent driving project in Chengdu, valued at RMB 105 million ($16.1 million). This project marks Sichuan Province's first initiative of its kind, involving the development of 30 kilometers of smart roads in the Singapore-Sichuan Hi-Tech Innovation Park. The initiative aims to enhance transportation through AI technology and will pave the way for autonomous driving services in Chengdu, including robobuses and robotaxis.

Baidu, Inc. (NASDAQ: BIDU) filed its annual report on Form 20-F for the fiscal year ended December 31, 2020, with the SEC on March 9, 2021. The report, which includes audited consolidated financial statements, is accessible on Baidu's investor relations website. Shareholders can request a free hard copy of the report containing the financial data. Founded in 2000, Baidu is a leading AI company focused on leveraging technology to simplify the world. Its American Depositary Shares (ADS) represent eight Class A ordinary shares.

Baidu (NASDAQ: BIDU) and China Huaneng Group signed a memorandum of understanding to enhance the energy industry's digital transformation. The partnership will focus on developing AI-powered financial services and digitizing energy data, aiming for increased efficiency and user experience. Baidu will leverage its AI and big data technologies to support the intelligent upgrade of China's energy sector. This collaboration aligns with Baidu's commitment to environmental protection and innovation in energy solutions, positioning the company as a leader in intelligent transformation across various industries.

Baidu, Inc. (NASDAQ: BIDU) reported a solid end to 2020 with total revenues reaching RMB 30.3 billion ($4.64 billion), a 5% year-over-year increase. The company's core revenue saw significant growth, particularly from non-marketing services, which grew by 52% in Q4. Baidu's net income attributable to the company was RMB 5.2 billion ($794 million), while diluted earnings per ADS stood at RMB 15.05 ($2.31). For Q1 2021, Baidu expects revenues between RMB 26.0 billion and RMB 28.5 billion, reflecting anticipated growth of 15% to 26% year-over-year.

Baidu has launched the world's first multi-modal autonomous driving MaaS platform in Guangzhou, featuring Apollo Robotaxis, Robobuses, and other autonomous vehicles. The initiative aims to enhance city transportation, with over 100 Robotaxis and nearly 1,000 pickup stations planned for deployment. Users can reserve rides via Baidu Maps and Apollo Go apps, especially during the Chinese New Year. This launch exemplifies Baidu's commitment to smart transportation, supported by an intelligent network for real-time traffic management and enhanced mobility solutions in Guangzhou.

Baidu, Inc. (NASDAQ: BIDU) has cemented its leadership in China's autonomous driving sector, achieving top results in the 2020 Beijing Autonomous Vehicles Road Test Report for the third year in a row. Baidu Apollo led across all testing categories, operating 55 autonomous vehicles that completed over 1.1 million kilometers, representing 95.92% of the city's total testing distance. Baidu is the first company authorized to conduct fully driverless tests on public roads. Furthermore, the Apollo Go Robotaxi service saw positive reception, with over 90% of users expressing intent to use it again.