Welcome to our dedicated page for Baidu SEC filings (Ticker: BAIDF), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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Baidu, Inc. submitted a Form 144 notice relating to proposed sales of ADSs, where each ADS represents eight ordinary shares. The filing states the ADSs were acquired from the issuer in a private transaction on 01/01/2005 and were acquired "for service rendered." The form lists broker information for Goldman Sachs & Co. LLC and includes filing metadata dated 04/01/2026.
Baidu, Inc. director Xu Ran filed an initial ownership report showing equity holdings in the company. The filing lists 28,728 restricted shares tied to Class A ordinary shares, with an exercise price of 0.0000 per share, and 23,112 Class A ordinary shares held directly.
According to the notes, the restricted shares were granted on February 6, 2026 and vest annually in four equal installments over a 2-year period, beginning on the first anniversary of the grant date, subject to continued service. The Class A ordinary shares are held in the form of American depositary shares, each representing eight Class A ordinary shares.
Baidu, Inc. filed a Form 3 showing Robin Yanhong Li’s initial ownership position, including direct holdings of Class A ordinary shares and substantial indirect holdings through Handsome Reward Limited, a British Virgin Islands company wholly owned by him. Certain Class A shares are held in the form of American depositary shares, with each ADS representing eight Class A ordinary shares.
The filing lists stock options held indirectly that are fully vested and exercisable for 724,800 Class A shares at an exercise price of US$21.888 per share and 469,120 Class A shares at US$23.251 per share. It also discloses several blocks of restricted Class A shares held indirectly that vest in equal annual installments over 2-, 3- and 4‑year periods starting on August 9, 2026, August 8, 2026 and August 7, 2026, contingent on continued service. In addition, Handsome Reward Limited holds 439,200,000 Class B ordinary shares, highlighting Li’s significant indirect stake and voting influence.
Baidu, Inc. director Liu Xiaodan filed an initial ownership report showing direct holdings in the company. The filing lists 32,384 restricted shares that are tied to Baidu Class A ordinary shares and 13,744 Baidu Class A ordinary shares held directly.
The restricted shares were granted on February 6, 2026 and vest in two equal annual installments over a two-year period starting on the first anniversary of the grant date, contingent on continued service through each vesting date. The shares are held in the form of American depositary shares, with each ADS representing eight Class A ordinary shares.
Baidu, Inc. director Yang Yuanqing reported his shareholdings as an insider. He directly holds 119,336 Class A ordinary shares and 28,728 restricted shares, each restricted share corresponding to one Class A ordinary share. The restricted shares were granted on February 6, 2026 and vest in four equal annual installments over a two-year period, subject to his continued service. The Class A ordinary shares are held in the form of American depositary shares, with each ADS representing eight Class A ordinary shares.
Baidu, Inc. director Xu Ran filed an initial ownership report showing direct holdings in the company. Xu Ran holds 28,728 restricted shares representing underlying Class A ordinary shares at an exercise price of $0.0000, plus 23,112 Class A ordinary shares held directly. The restricted shares were granted on February 6, 2026 and vest per annum in four equal installments over a 2-year period, starting from the first anniversary of the grant date, subject to continued service. Footnotes state the Class A ordinary shares are held in the form of American depositary shares, with each ADS representing eight Class A ordinary shares.
Baidu, Inc. director Foo Jixun filed a Form 3 reporting his initial equity holdings. He directly holds 122,584 Class A ordinary shares and restricted shares tied to 28,728 underlying Class A ordinary shares. These restricted shares were granted on February 6, 2026 and vest in two equal annual installments over a two-year period, subject to continued service. Each American depositary share represents eight Class A ordinary shares.
Baidu, Inc. Chief Financial Officer He Haijian has reported his initial equity holdings as an insider. He holds stock options covering 501,360 Class A ordinary shares with an exercise price of $10.9340 per share, expiring on August 7, 2035. These options were granted on August 7, 2025 and vest in four equal annual installments starting from the first anniversary of the grant date, subject to his continued service.
He also holds 606,160 restricted Class A ordinary shares granted on August 7, 2025, which vest in four equal annual installments beginning on the first anniversary of the grant date, again contingent on continued service. The restricted shares do not have an expiration date. The filing reflects holdings and vesting terms rather than any open-market purchases or sales.
Baidu, Inc. has filed a Form 6-K as a foreign private issuer, primarily to furnish its Annual Report for the year ended December 31, 2025 as Exhibit 99.1. This annual report was prepared under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and is being made available to U.S. investors through this submission.
The report is signed on behalf of Baidu by Chief Financial Officer Haijian He, reflecting management’s authorization of the furnished information. The filing indicates that Baidu files its annual reports under cover of Form 20-F, and uses this Form 6-K to keep U.S. markets aligned with disclosures provided in its Hong Kong listing.
Baidu, Inc. files its Form 20‑F for 2025, highlighting slower growth, heavy China exposure and a major shift toward AI. Revenue was RMB129,079 million in 2025, down from 2024 and 2023, and a RMB16,190 million impairment pushed operating results to a loss.
Despite this, net income attributable to Baidu reached RMB5,589 million in 2025, helped by other income. Cash flow from operations turned negative at RMB3,013 million. The report stresses structural risks from its variable interest entity (VIE) structure, evolving PRC regulation, HFCAA-related U.S. listing risk, and large, uncertain investments in generative AI, cloud and other new businesses, including the YY Live acquisition for about US$2.1 billion.