Baidu files annual report on Form 20-F for fiscal 2024

Published 28/03/2025, 14:10
Baidu files annual report on Form 20-F for fiscal 2024

BEIJING - Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), the AI and internet service giant with a market capitalization of $34.5 billion and impressive net income of $3.25 billion, has filed its annual report on Form 20-F for the fiscal year that concluded on December 31, 2024. The report, which details the company’s audited consolidated financial statements, is now available on Baidu’s investor relations website. InvestingPro analysis reveals the company maintains strong liquidity with a current ratio of 2.09, indicating robust financial health.

In addition to the SEC filing, Baidu also released its Hong Kong Annual Report today, which complies with the listing rules of The Stock Exchange of Hong Kong Limited (HKEx). This report mirrors the information provided in the Form 20-F and can be accessed both on Baidu’s investor relations portal and the HKEx’s website.

Shareholders and holders of American Depositary Shares (ADS) interested in receiving a hard copy of the Form 20-F can request one at no charge from Baidu’s Investor Relations Department, located at their Beijing headquarters.

Baidu, established in 2000 with the vision of simplifying the complex world through technology, is recognized as a leader in artificial intelligence, underpinned by its robust internet foundation. Trading at an attractive P/E ratio of 9.96, the stock appears undervalued according to InvestingPro metrics, which also identifies 8 additional key investment factors available to subscribers. The company’s ADSs are traded on NASDAQ and the HKEX, with one Baidu ADS equal to eight Class A ordinary shares.

This announcement is based on a press release statement from Baidu, Inc. and aims to provide investors with the essential information concerning the company’s latest financial disclosures.

In other recent news, Baidu has completed a significant financial maneuver by offering CNY 10 billion in senior unsecured notes. This offering includes CNY 7.5 billion at 2.70% due in 2030 and CNY 2.5 billion at 3.00% due in 2035, with proceeds earmarked for general corporate purposes, including debt repayment. Additionally, Baidu finalized a $2 billion exchangeable bond offering, due March 12, 2032, which has commenced trading on the Frankfurt Stock Exchange. The proceeds from this offering will also be used to repay existing debts and cover interest payments.

In another strategic move, Baidu has completed the $2.1 billion acquisition of YY Live, a video-based entertainment live streaming business. This acquisition marks an expansion into the growing live streaming market in China, with plans to enhance Baidu’s cloud and AI infrastructure. The company had previously deposited approximately $1.6 billion into escrow accounts, which will now be redirected following the acquisition. These developments highlight Baidu’s ongoing efforts to strengthen its financial and operational capabilities.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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