SGBAIDU@EC2607B

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KEEN OCEAN

EPI (HOLDINGS)

MOBI DEV

MS CONCEPT

NANFANG COMM

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09888

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BIDU

Baidu revealed in its 2025 earnings call that the number of digital human live streams on its platform in December increased by nearly 200% year-on-year. Huibo Star's digital human technology has provided services for companies such as JD.com and TikTok, demonstrating its application potential across multiple industries

Wallstreetcn

KraneShares 2x Long JD Daily ETF

BIDU-SW

JD-SW

Baidu

JD.com

Baidu HuiBoXing digital humans have served companies such as JD.com and TikTok

CLOU

Baidu founder Robin Li stated that 2025 will be a key year for AI to become Baidu's new core. The strong momentum of AI cloud and end-to-end AI capabilities have led to increasing recognition of Baidu by more enterprises. The expansion of AI application portfolios meets diverse needs, and Luobo Kuai Pao has consolidated its global leading position and accelerated international expansion. At the same time, the growth of AI-native marketing services has brought new opportunities for long-term development

Global X Cloud Computing ETF

Li Yanhong: 2025 is a key year for AI to become Baidu's new core

89888

K3SD

HBUD

BIDU 4Q25 First Take: the company adopted a new reporting framework this quarter, splitting results into AI biz. and other legacy biz.; AI includes AI infra, AI apps, and AI-native marketing. As the Street is still setting estimates under the old framework, Dolphin Research restores the prior disclosure for comparison, focusing on BIDU only and excluding iQIYI. Overall, the Q4 print was underwhelming. It was not a strong quarter. However, given the prolonged correction, buybacks providing support, and narratives such as Kunlun Chip’s IPO and potential Stock Connect inclusion later this year, we do not expect sustained penalties. On the top line, results were broadly in line with BBG consensus; overall ads slightly missed, and legacy ads were still down 26%, with the timing and pace of recovery uncertain. Cloud and other slightly beat, with cloud infra relatively strong. On opex, GAAP OP came in below expectations due to approx. RMB 700 mn in severance and some bad-debt provisions. Ex these items, lower D&amp;A and headcount optimization improved efficiency, driving Adj. OP to a modest beat. Looking at BIDU’s AI biz. in isolation, performance across the three pillars was mixed. Details follow: 1) Cloud Infra (cloud + compute): given last year’s high base (projects clustered in a short window), QoQ is more relevant. Q4 grew 35% QoQ, a decent trend. 2) AI Apps (incl. Baidu Wenku, Baidu Cloud Drive, and digital employees): flat QoQ. The cloud drive likely remained a drag. 3) AI-native marketing (agents and digital humans): edged lower QoQ; given industry trends, competition likely weighed. Watch the call for color on seasonality and other objective factors. $Baidu(BIDU.US) $BIDU-SW(09888.HK)

Baidu (9888) reported an adjusted profit of RMB 3.907 billion in the fourth quarter of last year, a year-on-year decline of 41.8%, but better than expected. Revenue was RMB 32.74 billion, a year-on-year decrease of 4%, with a quarter-on-quarter growth of 5%. A new USD 5 billion repurchase plan has been approved, with the first dividend expected in 2026. The full-year adjusted profit fell by 31%, with total revenue of RMB 129.1 billion, mainly affected by traditional business. Li Yanhong stated that 2025 will be a key year for AI to become the new core, with AI new business revenue accounting for 43% of general business revenue

- In Q4 2025, Baidu reported an adjusted profit of 39.07 billion yuan, down 41.8% year-on-year, yet better than expected, with total revenue of 327.4 billion yuan.  
- The company approved a new $5 billion share buyback plan effective until the end of 2028 and is set to declare its first dividend in 2026, emphasized by strong cash reserves and financial management.  
- CEO Robin Li indicated that 2025 will be crucial for AI to become Baidu's new core, with AI revenue reaching 113 billion yuan, accounting for 43% of the company's general revenue amid expanding international markets.

Stheadline

Baidu's adjusted profit in the fourth quarter fell by 42% but still exceeded expectations, with AI new business accounting for 43% of general revenue and the establishment of a dividend policy for the first time

Baidu (BIDU) shares fell over 3% in pre-market trading despite reporting Q4 adjusted earnings of ¥10.62 ($1.52) per American Depositary Share, exceeding the consensus estimate of ¥9.65. Quarterly revenue was ¥32.7 billion ($4.68 billion), aligning closely with expectations of ¥32.64 billion. The growth was mainly attributed to Baidu Core's AI-powered business. Baidu is a prominent Chinese technology firm focused on search, AI, and cloud services.

- Baidu (BIDU) shares fell over 3% in pre-market trading despite meeting revenue expectations and exceeding profit forecasts for Q4.  
- The company reported adjusted earnings of ¥10.62 ($1.52) per American Depositary Share, above the consensus estimate of ¥9.65, with quarterly revenue of ¥32.7 billion ($4.68 billion).  
- Growth was driven by Baidu Core's AI-powered business, affirming the company's position in the technology sector focused on search and artificial intelligence.

Tip Ranks

Baidu Earnings: BIDU Stock Falls despite Q4 Profit Beat

Baidu's non-GAAP net profit for the fourth quarter was RMB 3.907 billion, a decrease of 41.8%, slightly above the expected upper limit

AASTOCKS

Baidu's non-GAAP net profit for the fourth quarter was RMB 3.907 billion, a decrease of 41.8%, slightly above the expected upper limit

Baidu Group's fourth-quarter revenue was RMB 32.74 billion, estimated at RMB 32.66 billion. Risk warning and disclaimer: The market has risks, and investment should be cautious. This article does not constitute personal investment advice and does not take into account the specific investment goals, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investment based on this is at one's own risk

Baidu Group's fourth-quarter revenue is RMB 32.74 billion, estimated at RMB 32.66 billion

Baidu's US stock pre-market fell over 3%

Feb 26 (Reuters) - China’s largest search engine operator Baidutopped market estimates for quarterly revenue on Thursday, as strong growth in its cloud business helped cushion the hit from persistent weakness in its mainstay advertising business.The company reported total revenue of 32.74 billion yuan ($4.79 billion) for the quarter ended December, compared with analysts’ average estimate of 32.62 billion yuan, according to data compiled by LSEG. ($1 = 6.8395 Chinese yuan renminbi)

- Baidu, China's largest search engine operator, exceeded market revenue estimates for the December quarter.  
- The company reported total revenue of 32.74 billion yuan ($4.79 billion), slightly above analysts' average estimate of 32.62 billion yuan.  
- Strong growth in Baidu's cloud business helped offset ongoing weaknesses in its core advertising segment.

Reuters

China's Baidu tops quarterly revenue estimates

NVDA

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DELL

PARA

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89988

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BABA

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0226 | Dolphin Research focus: 🐬 Stock 1, $Alibaba(BABA.US). Alibaba Cloud Bailian launched the 'Coding Plan', integrating APIs for four mainstream models — Qwen3.5, GLM-5, MiniMax M2.5 and Kimi K2.5 — making it the only cloud provider globally to offer this combo.Lite plan is priced at RMB 7.9 for the first month and RMB 40 for the second; Pro plan at RMB 39.9 for the first month and RMB 200 for the second, with free model switching. The aim is to lower AI coding barriers through aggressive pricing and full-stack model coverage...

Alibaba Cloud rolls out dirt-cheap AI coding bundle; JD's 'Billion-yuan Supermarket' reignites subsidy rush | Daily News Recap

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Hong Kong stocks experienced a collective pullback today, with the three major indices retreating after reaching highs. The Hang Seng Index closed down 1.44%, and the Hang Seng Tech Index plummeted 2.87%. On the market, tech stocks and retail stocks showed weakness, with significant declines in heavyweight stocks like Alibaba and Kuaishou; bank stocks exhibited mixed performance, with HSBC Holdings rising 1.61% against the trend, supporting the market. Funds have not completely withdrawn, as the telecommunications equipment sector was in demand, with NANFANG COMM and MOBI DEV seeing significant price increases. On the macro front, the market is closely monitoring economic data from early 2026 to assess the sustainability of the recovery

- Hong Kong stocks experienced a collective pullback today, with the Hang Seng Index dropping 1.44% to close at 26,381.02 points after recent highs.  
- The Hang Seng Tech Index fell 2.87%, indicating significant profit-taking, while retail and internet sectors also showed declines amid a subdued market mood.  
- Investors are focusing on macroeconomic signals for early 2026, watching GDP growth and inflation rates to assess economic recovery and stock valuation trends.

Market Heartbeat

HSBC HOLDINGS

BABA-W

MNSO

TENCENT

KUAISHOU-W

ICBC

KPM HOLDING

KraneShares 2x Long BABA Daily ETF

Alibaba

Hang Seng Index

ISHARESHSI

Hong Kong Stock Market Closing | The Hang Seng Index fell by 1.44%, the Tech Index plummeted by 2.87%, Alibaba's decline exceeded 3%, and NANFANG COMM surged over 42%

$Baidu(BIDU.US) (-2.7% pre-mkt): 4Q results generally met/beat expectations although MAUs light (only 2 ests). As usual, no forward guidance included in release. Conf call 7:30am ET. 4Q RESULTS- Revs 32.74B yuan, -4.1% y/y, vs 32.66B yuan est. - Rev from iQIYI (Netflix of China) 6.79B yuan vs 6.76B est.- Adj profit per ADR 10.62 yuan vs. 9.40 yuan est.- Adj Ebitda 4.73B yuan, -32% y/y, vs 4.67B yuan est.- Monthly active users 679M, estimate 703M est (2 ests).COMMENTARY AND CONTEXT- Portfolio of AI Applications continues to scale - Accelerating International Expansion Into New Markets- Confident in ability to create lasting value in AI- Kunlunxin spin-off separate listing is progressing - Apollo Go, Baidu's autonomous ride-hailing service, reported weekly rides of over 300K during the quarter (Waymo 400K per week, TSLA &lt;100 per week). Total rides increased by 200% year over year. As of Feb 2026, cumulative rides provided to the public by Apollo Go exceeded 20 million. Entered the South Korean Market and expanded to several European markets.- Revenue from Baidu Core AI-powered Business exceeded 11B yuan in Q4, accounting for 34% of Baidu revs

BIDU ADR US

BIDU-SWR

iQIYI

Baidu HK SDR 10to1

Today’s Key News Recap

Salesforce

NVIDIA

Warner Bros. Discovery

Netflix

Boeing

Duolingo

Coreweave

Dell Tech

Paramount Global

BABA-WR

Alibaba HK SDR 5to1

Vipshops

Luckin Coffee

Block

BOEING CO 6% DEP SHS RE 1/20TH PFD MAN CNV SR A

In today’s pre-mkt summary for Subscribers: Stocks declined amid uncertainty over new 15% global tariffs following the Supreme Court's invalidation of President Trump’s emergency levies, with added pressures from Trump’s Middle East military buildup against Iran and a severe blizzard impacting the NYC area. Gold and silver advanced and #btc stabilized after dipping below $65K. This is a pivotal week featuring Trump’s State of the Union Tuesday and $NVIDIA(NVDA.US) earnings Wednesday. We maintain our view that equities will go to new highs as cooling inflation and decelerating employment growth boost prospects for faster Fed easing, with money markets pricing two cuts by year-end, with the first likely by July. 2026 S&amp;P 500 EPS growth is projected to grow +12% YoY to $310, which implies a forward P/E of 22.3x. This implies a 4.5% earnings yield, a +40bp premium to 10yr yields, aligning with non-recessionary historical norms. On $Tesla(TSLA.US), the narrative of its unique path to generalized unsupervised autonomy has eroded as $Alphabet - C(GOOG.US), $Baidu(BIDU.US), $WeRide(WRD.US), $Pony AI(PONY.US), and $Amazon(AMZN.US) scale to 750K paid unsupervised autonomous rides weekly without safety monitors, while $NVIDIA(NVDA.US)’s decision to open its AI chips/software stack to other OEMs starting 1H 2026 effectively democratizes unsupervised autonomy.

WeRide

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Tesla

In today’s pre-mkt summary for Subscribers: Stocks rose as sentiment improved after yesterday’s volatile session, with traders awaiting today’s release of minutes from the Jan 27-28 Fed meeting for clues in the Fed’s forward rate path. 10yr Treasury yields rose and precious metals recovered. We continue to expect equities to reach new highs as cooling inflation and slowing employment growth raise the odds of earlier Fed rate cuts, with money markets pricing in two cuts by year-end. We see stocks as neither under- or over-valued: 2026 S&amp;P 500 EPS growth of +12% implies a forward P/E of 22.1x (4.5% earnings yield) and a ~50bp premium to 10-year Treasuries, consistent with historical non-recessionary norms. We remain cautious on $Tesla(TSLA.US) as the bull case for TSLA being the only one to solve for general unsupervised autonomy continues to weaken with $Alphabet - C(GOOG.US), $Baidu(BIDU.US), $WeRide(WRD.US), $Pony AI(PONY.US), and $Amazon(AMZN.US) completing 750K paid unsupervised rides per week, and $NVIDIA(NVDA.US) about to offer its full autonomy stack to OEMs starting 1H 2026, which we believe will democratize unsupervised autonomy.

That's right. Good companies won't be affected much. Most of their business is in China. Happy Chinese New Year.

2026 Resolution-Trade like professional . Do not FOMO. Keep more cash.

XIAOMI

Fattycat

BABA Diamond Holder

BABA Return Rate

上週末，趁着國內臨近春節，美國又耍了個&#34;小手段&#34;，其國防部一度宣佈將包括阿里、百度、比亞迪在內的多家公司納入 Chinese Military Companies、即 CMC 清單。導致阿里等受影響的公司股價盤前一度跳水，但隨後美國防部又 “玩鬧式” 地迅速將此公告撤回了，相關公司最後也收回了大多數跌幅。實際上，美國的這種 “小手段” 已用過多次，海豚君在此前的《中概退市：這次 “狼真會來”？別怕，不是末日！》中有過比較詳細的討論，多少有些見怪不怪了。首先，被納入 CMC 清單的直接影響只是 -- 被禁止與美國國防部及其相關方進行合作往來，但不會直接影響美國資金投資於 CMC 清單內的企業，和直接影響民間的生意往來。只有被納入 “升級版” 的 NS-CMIC 清單內的企業才會被直接禁止美國資金對其進行投資，進而對相關公司股價產生實際性影響。但該 “NS-CMIC” 名單自 21 年 12 月後就再無更新。此前，小米和騰訊也曾短暫被納入國 CMC 清單，但隨後經過上述或溝通都被移出了清單，短暫的恐慌性下跌反而給了不錯的入場機會。結合這個小動作的時間節點，和發佈後又立刻撤回的操作，海豚君當前傾向於這更多隻是美國趁着國內喜慶過年時故意 “噁心”、並試探一下中方政府的態度，為特朗普可能在 4 月的訪華談判上一些籌碼。綜上，海豚君目前覺得大概率不會有什麼實質性的影響，但也不能排除之後美國不會又再有拉扯，把撤回的公告再發布出來，保持關注吧。$Alibaba(BABA.US) $Baidu(BIDU.US)

Xiaomi HK SDR 2to1

XIAOMI-W

XIAOMI-WR

Xiaomi Corporation

Featured

☕️ Grab your coffee, investors. This week is stacked with events that could define the market's direction for the quarter. From central bank whispers to tech earnings fireworks and a record-breaking IPO, here’s your essential rundown:

Apple

Meta Platforms

Microsoft

GraniteShares 2x Long MSFT Daily ETF

Direxion Daily TSLA Bull 2X Shares

Tencent

Tencent Holdings Limited

Sandisk

Western Digital

Western Digital - WI

Sandisk - WI

Apple Group

Jiangsu Azure Corporation

🔥 Market Weekly Preview: Fed, Tech Giants & A Sizzling IPO | Jan 26 - Jan 30, 2026

TENCENT-R

Tencent HK SDR 10to1

Compared to BIDU's AI hype, BABA feels undervalued, anyone thinks so?🤔

Gold continues to be bullish, you can continue to hold and add positions

股市江湖故事会

Gold is on a wild run, rallying like nobody’s business. And that USD against SGD has weaken to below 1.27. Level. Total madness.With the Fed meeting coming up this week, the statement will be crucial and closely watched by the market. Stay safe and vigilant.😁

SGBAIDU@EC2607B(25322.HK)

Baidu HuiBoXing digital humans have served companies such as JD.com and TikTok

Li Yanhong: 2025 is a key year for AI to become Baidu's new core

Baidu's adjusted profit in the fourth quarter fell by 42% but still exceeded expectations, with AI new business accounting for 43% of general revenue and the establishment of a dividend policy for the first time

Baidu Earnings: BIDU Stock Falls despite Q4 Profit Beat