[Brokerage Focus] Sinolink maintains a "buy" rating on Baidu (09888), stating that the macro environment is relatively weak, and the advertising business is under pressure.

Jingwu Financial News | Sinolink's research report indicates that Baidu (09888) achieved revenue of 33.6 billion yuan in Q3 2024, a decrease of 3% year-on-year, and a Non-GAAP net income of 5.9 billion yuan, down 19% year-on-year. In Q3 2024, Baidu's core revenue was 26.5 billion yuan, a slight decrease of 0.29% year-on-year, with a Non-GAAP net profit attributable to Baidu's core business of 7.54 billion yuan, an increase of 17% year-on-year. Online marketing revenue reached 18.8 billion yuan, down 4% year-on-year, and the weak macro environment has exerted some pressure on advertising business, while AI-driven product redesign for user search has had a certain impact on short-term commercialization.

Kingwu Financial News00:35 ET

Express News | Baidu Inc : Jefferies Cuts Target Price to $126 From $134

Reuters23:51 ET

Hong Kong Shares Edge Higher, Supported by Consumer Stocks -- Market Talk

WSJ20:52 ET

Express News | Hong Kong Shares of Baidu Inc Set to Open Down 5.4%

Reuters20:20 ET

Hong Kong stock morning report on November 22: Zhu Hexin stated that the interconnection between the mainland and Hong Kong markets will continue to deepen. Alibaba integrates domestic and foreign e-commerce to establish an e-commerce business group.

① Zhu He Xin stated that the interconnectivity between the mainland and Hong Kong markets will continue to be deepened. ② The navy's hainan and changsha ships formed a fleet to visit Hong Kong for five days. ③ Alibaba has integrated domestic and international e-commerce to establish an e-commerce business group. ④ Baidu disclosed that the monthly active users of its document library AI feature have increased by over 300% year-on-year.

cls.cn18:48 ET

Zhitong Hong Kong stocks early knowledge | Hua Hong (01347) received a 40nm MCU order from stmicroelectronics. The hang seng index company today announced the results of the third quarter review.

On November 21st, europe chip giant stmicroelectronics (STM.US) held an investor day event in Paris, France on Wednesday local time, announcing a cooperation with the second largest wafer foundry in china to produce 40nm node microcontrollers (MCUs) in china, in support of its long-term revenue goals.

Zhitong Finance18:39 ET