Before Tesla entered the game, Luobu Kuaipao provoked domestic robotaxi competition | Jianzhi Research.
The domestic Robotaxi is gradually forming a dual competition pattern between internet-related companies and travel service companies.
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Brokerage Focus: Guosheng Securities maintains a buy rating on baidu (09888), pointing out that AI will have limited contribution to cloud business in the short term and will be the core growth point in the long term.
According to Guosheng Securities, Baidu Group (09888) achieved a quarterly revenue of 31.5 billion yuan in 2024Q1, an increase of 1% year-on-year. In Baidu's core business, online marketing advertising revenue is about 17 billion yuan, a year-on-year increase of 3%, with a slower growth rate. Intelligent cloud and other business revenue was 6.8 billion yuan, a year-on-year increase of 6%. The bank determined that the downstream enterprise's tightening of IT spending affected the demand for cloud. The company's non-GAAP net income attributable to its mother was 7.01 billion yuan this quarter, with a non-GAAP net income attributable to its mother rate of about 22%. The bank pointed out that the short-term benefit of cloud business from AI is still limited, but the incremental AI is certain.
The online car-hailing regulatory information exchange system received a total of 0.971 billion orders in June, an increase of 2.9% compared to the previous month.
According to the statistics of the online car-hailing regulation information exchange system, as of June 30, 2024, there are a total of 354 online car-hailing platform companies that have obtained online car-hailing platform operation licenses nationwide, an increase of 3 compared with the previous period.
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Soochow Securities maintains a "buy" rating on Baidu Group (09888), and expects the advertising business to continue to be under pressure, lowering its revenue and net income forecasts.
Jingu Caixun | Soochow Securities issued a research report stating that Baidu Group (09888) will release the sixth generation of self-driving cars, called the 'Carrot Run', in Apollo Day 2024, achieving 10 times the safety of human drivers and coverage of complex urban scenes.
China International Capital Corporation: The long-term development of the Robotaxi industry relies on the positive feedback loop formed by technology, commercialization, and policy.
Before a positive cycle is formed, Robotaxi companies may undertake a period of losses. China International Capital Corporation believes that financial strength, closed-loop data, integration of hardware and software, and technological innovation are key competitive factors for Robotaxi companies at present.
The central bank unexpectedly lowered the policy interest rate, stimulating the Hong Kong stock market to stop falling from its low point.
Last week, the Hang Seng Index fell a total of 875 points or 4.8%, reaching the lowest level in nearly three months since April 26; the Hang Seng Tech Index plummeted by 6.5%, dragging down the entire market. However, China's 1-year and 5-year LPRs were lowered by 10 basis points in July, driving a rebound in Hong Kong stocks today, climbing 181 points in the morning. The Hang Seng Index rose 142 points or 0.9% to 17,560 points in the half-day period; the National Index rose 61 points or 1% to 6,226 points; and the Hang Seng Tech Index rose 59 points or 1.7% to 3,596 points. The total turnover of the market in the half-day period was HKD 53.671 billion, and the net inflow of Shanghai and Shenzhen-Hong Kong stocks in the southbound trading was 2.
GTJA: Robotaxi accelerates fast, and Asia Vets driving intelligence continues to advance.
Recommended symbols for intelligent driving acceleration or cooperation, as well as components symbols with high configuration rates for advanced intelligent driving.
Brokerage focuses on Baidu Group (09888) and gives it a first-time "recommendation" rating, stating that Wenxin Big Model and ZhiJia will create a new growth curve.
Jingu finance news | Fangzheng Securities' research point out that the recent volatility in Baidu Group's stock price due to short-term fluctuations brought by Robin Li's resignation. If Tesla releases its self-driving ride-hailing service, Robotaxi in October, and it drives the industry to accelerate industrialization, the value of Baidu's intelligent driving business may be re-evaluated. Currently, due to the high costs of hardware, software, and safety personnel, the operation cost of Robotaxi is higher than that of online car-hailing and taxi services. However, with optimized supply chain and economies of scale, according to Frost & Sullivan data, the operating cost of Robotaxi can be reduced to
[Brokerage Focus] Guoyuan International: Continuous implementation of policies improves business efficiency with AI technology. The internet plus-related industry still has investment value overall.
Jingu Caixun | Guoyuan International Research pointed out that overall, due to the current stage of China's economy and consumption in the recovery phase, some Internet companies may face the risk of slowing performance growth or falling short of expectations as the mid-term disclosure period approaches. However, in the face of the tactical return of overseas funds, Hong Kong shares have already seen a significant repair in valuation multiples. Although the improvement of the fundamentals of Internet companies under macroeconomic pressure is limited, the current industry still has investment value due to the widespread buybacks and relatively low valuations of Internet companies, as well as the continuous implementation of policies and the gradual transformation of business with AI technology to improve efficiency. In addition, with the summer box office season,
[Brokerage Focus] Bocom Intl maintains a buy rating for Baidu (09888), as short-term pressure is expected for advertising in the second quarter, and core revenue is expected to remain flat year-on-year.
Bocom Intl released a research report stating that it is expected that in the second quarter of 2024, Baidu's core revenue will remain flat, with core revenue of 26.4 billion yuan (RMB, same below), a decrease of 3% from the previous. Mainly due to short-term pressure on advertising; adjusted net income is 6.69 billion yuan, corresponding to a profit margin of 25%, compared with VisibleAlpha's expected revenue growth rate of 0.9% and operating profit of 6.5 billion yuan. Baidu's (including iqiyi) revenue is expected to be 34.3 billion yuan, an increase of 0.9% YoY, and adjusted net income is 6.8 billion yuan, corresponding to a profit margin of 19.8%. The bank expects advertising revenue to decline by 3% YoY to 1.
Hong Kong stock concept tracking | "vehicle-road cloud integration" policy is bullish with frequent releases, the trillion-dollar market is expected to usher in a booming period (with concept stocks).
CITIC Securities pointed out that as regulations for self-driving industry on both national and local levels gradually improve, each link in the industry chain is expected to accelerate technology research and development and product deployment, benefiting the intelligent automotive industry chain.
Baidu Group-SW (09888.HK) plans to hold a board of directors meeting on August 21 to approve the financial results for the second quarter and the interim period.
On July 17th, Gelonghui announced that the board of directors of Baidu Group-SW (09888.HK) will hold a board meeting on August 21, 2024 (Wednesday) to approve the unaudited performance and announcement for the second quarter and mid-term financial results ending on June 30, 2024 ("2024 Second Quarter and Mid-term Financial Results Announcement"). The company will upload the 2024 Second Quarter and Mid-term Financial Results Announcement to the HKEx website and company website after the HKEx trading hours and before the US market opens on August 22, 2024 (Thursday) (Beijing/Hong Kong Time).
DATE OF BOARD MEETING
Goldman Sachs "slapped in the face" JPMorgan: Profitable by 2025!
Goldman Sachs predicts that Luerbang Kuai Pao will achieve a balance of profits and losses in Wuhan in the next 2-3 quarters and will be profitable by 2025. In contrast, JPMorgan previously predicted that self-driving taxi services may still contribute little to Baidu's overall profits in the next 12 months.
Express News | Baidu Inc : HSBC Cuts Target Price to $116 From $145
Is It Worth Investing in Baidu Inc. (BIDU) Based on Wall Street's Bullish Views?
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