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- frannyfranny
  ·2021-05-19
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  非常抱歉，此主贴已删除
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- frannyfranny
  ·2021-05-18
  Wow
  Chinese Giant JD.com Seeks $3.4 Billion in Logistics IPO. Here’s What to Know.<blockquote>中国巨头京东寻求34亿美元的物流IPO。以下是需要了解的信息。</blockquote>
  After a blockbuster year for e-commerce boosted by the Covid-19 pandemic, China’s JD.com is seeking
  Chinese Giant JD.com Seeks $3.4 Billion in Logistics IPO. Here’s What to Know.<blockquote>中国巨头京东寻求34亿美元的物流IPO。以下是需要了解的信息。</blockquote>
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- frannyfranny
  ·2021-05-18
  Wow
  Baidu's 1Q Results Beat Estimates<blockquote>百度第一季度业绩超出预期</blockquote>
  Baidu, Inc. today announced its unaudited financial results for the first quarter ended March 31, 20
  Baidu's 1Q Results Beat Estimates<blockquote>百度第一季度业绩超出预期</blockquote>
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Here’s What to Know.<blockquote>中国巨头京东寻求34亿美元的物流IPO。以下是需要了解的信息。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1197102420","media":"Barrons","summary":"After a blockbuster year for e-commerce boosted by the Covid-19 pandemic, China’s JD.com is seeking ","content":"<p>After a blockbuster year for e-commerce boosted by the Covid-19 pandemic, China’s&nbsp;JD.com&nbsp;is seeking to raise up to $3.4 billion by listing its logistics arm.</p><p><blockquote>在 Covid-19 大流行推动电子商务取得巨大成功的一年之后，中国京东正寻求通过上市其物流部门来筹集高达 34 亿美元的资金。</blockquote></p><p> JD Logistics is an integrated supply-chain player in China, offering services from warehousing to distribution, from manufacturer to end customer. Its initial public offering is set to be one of the largest in Hong Kong this year.</p><p><blockquote>京东物流是中国一家综合供应链企业，提供从仓储到配送、从制造商到最终客户的服务。其首次公开募股将是今年香港规模最大的首次公开募股之一。</blockquote></p><p> Shares in the e-commerce giant&nbsp;JD.com&nbsp;closed less than 1% lower in Hong Kong, while its Nasdaq-listed U.S. shares similarly fell less than 1%.</p><p><blockquote>电子商务巨头京东的股价在香港股市收盘下跌不到1%，而其在纳斯达克上市的美国股市也同样下跌不到1%。</blockquote></p><p> <b>The back story.</b>JD.com—one of China’s internet giants —established its in-house logistics division in 2007. The group built out warehousing and delivery infrastructure and supply-chain technologies through this division for a decade, before formally spinning out the company in 2017. Since then, JD Logistics has continued to serve JD.com, alongside offering services to external clients.</p><p><blockquote><b>背景故事。</b>中国互联网巨头之一的京东于 2007 年成立了内部物流部门。在2017年正式分拆公司之前，该集团通过该部门建立了仓储和交付基础设施以及供应链技术十年。从那时起，京东物流除了向外部客户提供服务外，还继续服务于京东。</blockquote></p><p> The company operated more than 900 warehouses across China by the end of 2020, with its logistics network using high-tech tools like self-driving vehicles and autonomous robots. Its 32 “smart mega warehouses” across China include a fully unmanned center in Shanghai.</p><p><blockquote>截至2020年底，该公司在中国运营着900多个仓库，其物流网络使用了自动驾驶汽车和自主机器人等高科技工具。该公司在中国各地设有 32 个 “智能巨型仓库 ”，其中包括位于上海的一个完全无人值守的中心。</blockquote></p><p> Since being spun off in 2017, JD Logistics has grown quickly, with revenue growth of 32% between 2018 and 2019 and 47% from 2019 to 2020. It recorded net losses of more than 2 billion yuan ($300 million) in both 2018 and 2019, and a net loss of 4 billion yuan in 2020. The group expects its net loss for 2021 to “increase significantly” compared with 2020, in part due to lower profit margins from a decrease in government support related to the Covid-19 pandemic.</p><p><blockquote>自2017年分拆以来，京东物流增长迅速，2018年至2019年间收入增长32%，2019年至2020年间收入增长47%。2018 年和 2019 年净亏损均超过 20 亿元人民币（3 亿美元），2020 年净亏损 40 亿元人民币。与 2020 年相比，本集团预计 2021 年的净亏损将 “大幅增加”，部分原因是与 Covid-19 大流行病相关的政府支持减少导致利润率下降。</blockquote></p><p> JD.com floated its pharmaceutical and health services division, JD Health, in Hong Kong in December 2020, raising $3.5 billion, and itself listed in Hong Kong in June 2020 after years of its shares being traded on the Nasdaq.</p><p><blockquote>京东于2020年12月在香港上市其医药和健康服务部门京东健康，筹集了35亿美元，并在其股票在纳斯达克交易多年后，于2020年6月在香港上市。</blockquote></p><p> <b>What’s new.</b>JD.com said on Monday that it would seek to raise up to 264,132 million Hong Kong dollars ($3.4 billion) through the listing of JD Logistics. The IPO would be the second-largest in Hong Kong in 2021, since Tencent-backed video-sharing app&nbsp;Kuaishou&nbsp;floated in February to raise $5.4 billion.</p><p><blockquote><b>有什么新鲜事。</b>京东周一表示，将寻求通过京东物流上市筹集至多2.641.32亿港元（34亿美元）资金。自腾讯控股支持的视频分享应用快手于 2 月份上市筹集 54 亿美元以来，此次 IPO 将是 2021 年香港第二大 IPO。</blockquote></p><p> JD Logistics intends to issue 609.2 million shares—around 10% of its stock—within an expected price range of HK$39.36 to HK$43.36, according to filings. The company is slated to retain more than 64% of the total shares. An overallotment option, or green shoe, would allow for the sale of another 91 million shares to raise up to a further $510 million.</p><p><blockquote>根据文件显示，京东物流打算发行 6.092 亿股股票（约占其股票的 10%），预计价格范围为 39.36 港元至 43.36 港元。该公司计划保留总股份的64%以上。超额配售选择权或绿鞋将允许再出售 9100 万股股票，以进一步筹集高达 5.1 亿美元的资金。</blockquote></p><p> Cornerstone investors including Softbank’s Vision Fund, Tiger Global, Blackstone, and Temasek Holdings—Singapore’s state-backed investment company—have committed to buying around $1.5 billion worth of shares. The final pricing for the IPO is expected on Friday, before the shares begin trading on May 28.Bank of America,Goldman Sachs,and Chinese investment bank Haitong are the joint sponsors of the IPO.</p><p><blockquote>包括软银愿景基金、老虎环球、黑石集团和新加坡政府支持的投资公司淡马锡控股公司在内的基石投资者已承诺购买价值约 15 亿美元的股票。IPO 的最终定价预计将于周五公布，之后股票将于 5 月 28 日开始交易。美国银行、高盛和中国投资银行海通是此次IPO的联席保荐人。</blockquote></p><p> In its prospectus, the group made the case that it was a tech-driven supply-chain and logistics expert, with proprietary tools allowing it to substantially improve the operational efficiencies of customers’ supply chains. The key risks to JD Logistics’ business, according to the filings, include intense competition in the e-commerce and services space, Chinese macroeconomic conditions, and the fact that a significant portion of its revenue has historically come from JD.com.</p><p><blockquote>在招股说明书中，该集团表示，它是一家技术驱动的供应链和物流专家，其专有工具使其能够大幅提高客户供应链的运营效率。文件显示，京东物流业务面临的主要风险包括电子商务和服务领域的激烈竞争、中国的宏观经济状况，以及其很大一部分收入历来来自京东。</blockquote></p><p> <b>Looking ahead.</b>Investors can view JD Logistics going public as a way to play a few familiar high-tech trends, including artificial intelligence and 5G-linked breakthroughs in autonomous vehicles and robots. These technologies have serious implications for supply chains. More broadly, JD Logistics would be another way to gain exposure to the e-commerce sector as consumer spending ramps up—in China and around the world—with the economic recovery from the Covid-19 pandemic.</p><p><blockquote><b>展望未来。</b>投资者可以将京东物流的上市视为玩转一些熟悉的高科技趋势的一种方式，包括人工智能以及自动驾驶汽车和机器人领域的5G相关突破。这些技术对供应链有着严重的影响。更广泛地说，随着中国和世界各地的消费者支出随着 Covid-19 大流行的经济复苏而增加，京东物流将是进入电子商务领域的另一种方式。</blockquote></p><p> But investors must be aware that the group would go public into a tough regulatory environment, with Chinese regulators cracking down on tech companies. Last month, regulators warned 13 groups, including a JD.com subsidiary, over antitrust issues, and share prices in the sector have faced headwinds since February amid rising interest rates and regulatory concerns in both the U.S. and China.</p><p><blockquote>但投资者必须意识到，该集团将在严峻的监管环境中上市，中国监管机构将打击科技公司。上个月，监管机构就反垄断问题向包括京东子公司在内的 13 家集团发出警告，由于中美两国利率上升和监管担忧，该行业的股价自 2 月份以来一直面临阻力。</blockquote></p><p> And the market has had recent cause for concern about the Chinese tech and logistics sector more broadly. One of JD Logistics’ competitors, SF Holding, saw its stock price crash more than 44% from highs in February after it posted a surprise quarterly loss. That prompted questions about lofty valuations beyond SF, which is China’s largest listed courier group. Expect JD Logistics to face similar scrutiny.</p><p><blockquote>市场最近有理由对更广泛的中国科技和物流行业感到担忧。京东物流的竞争对手之一顺丰控股在公布季度意外亏损后，其股价从 2 月份的高点暴跌了 44% 以上。这引发了人们对中国最大的上市快递集团顺丰以外的高估值的质疑。预计京东物流也将面临类似的审查。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinese Giant JD.com Seeks $3.4 Billion in Logistics IPO. Here’s What to Know.<blockquote>中国巨头京东寻求34亿美元的物流IPO。以下是需要了解的信息。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChinese Giant JD.com Seeks $3.4 Billion in Logistics IPO. Here’s What to Know.<blockquote>中国巨头京东寻求34亿美元的物流IPO。以下是需要了解的信息。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-05-18 17:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>After a blockbuster year for e-commerce boosted by the Covid-19 pandemic, China’s&nbsp;JD.com&nbsp;is seeking to raise up to $3.4 billion by listing its logistics arm.</p><p><blockquote>在 Covid-19 大流行推动电子商务取得巨大成功的一年之后，中国京东正寻求通过上市其物流部门来筹集高达 34 亿美元的资金。</blockquote></p><p> JD Logistics is an integrated supply-chain player in China, offering services from warehousing to distribution, from manufacturer to end customer. Its initial public offering is set to be one of the largest in Hong Kong this year.</p><p><blockquote>京东物流是中国一家综合供应链企业，提供从仓储到配送、从制造商到最终客户的服务。其首次公开募股将是今年香港规模最大的首次公开募股之一。</blockquote></p><p> Shares in the e-commerce giant&nbsp;JD.com&nbsp;closed less than 1% lower in Hong Kong, while its Nasdaq-listed U.S. shares similarly fell less than 1%.</p><p><blockquote>电子商务巨头京东的股价在香港股市收盘下跌不到1%，而其在纳斯达克上市的美国股市也同样下跌不到1%。</blockquote></p><p> <b>The back story.</b>JD.com—one of China’s internet giants —established its in-house logistics division in 2007. The group built out warehousing and delivery infrastructure and supply-chain technologies through this division for a decade, before formally spinning out the company in 2017. Since then, JD Logistics has continued to serve JD.com, alongside offering services to external clients.</p><p><blockquote><b>背景故事。</b>中国互联网巨头之一的京东于 2007 年成立了内部物流部门。在2017年正式分拆公司之前，该集团通过该部门建立了仓储和交付基础设施以及供应链技术十年。从那时起，京东物流除了向外部客户提供服务外，还继续服务于京东。</blockquote></p><p> The company operated more than 900 warehouses across China by the end of 2020, with its logistics network using high-tech tools like self-driving vehicles and autonomous robots. Its 32 “smart mega warehouses” across China include a fully unmanned center in Shanghai.</p><p><blockquote>截至2020年底，该公司在中国运营着900多个仓库，其物流网络使用了自动驾驶汽车和自主机器人等高科技工具。该公司在中国各地设有 32 个 “智能巨型仓库 ”，其中包括位于上海的一个完全无人值守的中心。</blockquote></p><p> Since being spun off in 2017, JD Logistics has grown quickly, with revenue growth of 32% between 2018 and 2019 and 47% from 2019 to 2020. It recorded net losses of more than 2 billion yuan ($300 million) in both 2018 and 2019, and a net loss of 4 billion yuan in 2020. The group expects its net loss for 2021 to “increase significantly” compared with 2020, in part due to lower profit margins from a decrease in government support related to the Covid-19 pandemic.</p><p><blockquote>自2017年分拆以来，京东物流增长迅速，2018年至2019年间收入增长32%，2019年至2020年间收入增长47%。2018 年和 2019 年净亏损均超过 20 亿元人民币（3 亿美元），2020 年净亏损 40 亿元人民币。与 2020 年相比，本集团预计 2021 年的净亏损将 “大幅增加”，部分原因是与 Covid-19 大流行病相关的政府支持减少导致利润率下降。</blockquote></p><p> JD.com floated its pharmaceutical and health services division, JD Health, in Hong Kong in December 2020, raising $3.5 billion, and itself listed in Hong Kong in June 2020 after years of its shares being traded on the Nasdaq.</p><p><blockquote>京东于2020年12月在香港上市其医药和健康服务部门京东健康，筹集了35亿美元，并在其股票在纳斯达克交易多年后，于2020年6月在香港上市。</blockquote></p><p> <b>What’s new.</b>JD.com said on Monday that it would seek to raise up to 264,132 million Hong Kong dollars ($3.4 billion) through the listing of JD Logistics. The IPO would be the second-largest in Hong Kong in 2021, since Tencent-backed video-sharing app&nbsp;Kuaishou&nbsp;floated in February to raise $5.4 billion.</p><p><blockquote><b>有什么新鲜事。</b>京东周一表示，将寻求通过京东物流上市筹集至多2.641.32亿港元（34亿美元）资金。自腾讯控股支持的视频分享应用快手于 2 月份上市筹集 54 亿美元以来，此次 IPO 将是 2021 年香港第二大 IPO。</blockquote></p><p> JD Logistics intends to issue 609.2 million shares—around 10% of its stock—within an expected price range of HK$39.36 to HK$43.36, according to filings. The company is slated to retain more than 64% of the total shares. An overallotment option, or green shoe, would allow for the sale of another 91 million shares to raise up to a further $510 million.</p><p><blockquote>根据文件显示，京东物流打算发行 6.092 亿股股票（约占其股票的 10%），预计价格范围为 39.36 港元至 43.36 港元。该公司计划保留总股份的64%以上。超额配售选择权或绿鞋将允许再出售 9100 万股股票，以进一步筹集高达 5.1 亿美元的资金。</blockquote></p><p> Cornerstone investors including Softbank’s Vision Fund, Tiger Global, Blackstone, and Temasek Holdings—Singapore’s state-backed investment company—have committed to buying around $1.5 billion worth of shares. The final pricing for the IPO is expected on Friday, before the shares begin trading on May 28.Bank of America,Goldman Sachs,and Chinese investment bank Haitong are the joint sponsors of the IPO.</p><p><blockquote>包括软银愿景基金、老虎环球、黑石集团和新加坡政府支持的投资公司淡马锡控股公司在内的基石投资者已承诺购买价值约 15 亿美元的股票。IPO 的最终定价预计将于周五公布，之后股票将于 5 月 28 日开始交易。美国银行、高盛和中国投资银行海通是此次IPO的联席保荐人。</blockquote></p><p> In its prospectus, the group made the case that it was a tech-driven supply-chain and logistics expert, with proprietary tools allowing it to substantially improve the operational efficiencies of customers’ supply chains. The key risks to JD Logistics’ business, according to the filings, include intense competition in the e-commerce and services space, Chinese macroeconomic conditions, and the fact that a significant portion of its revenue has historically come from JD.com.</p><p><blockquote>在招股说明书中，该集团表示，它是一家技术驱动的供应链和物流专家，其专有工具使其能够大幅提高客户供应链的运营效率。文件显示，京东物流业务面临的主要风险包括电子商务和服务领域的激烈竞争、中国的宏观经济状况，以及其很大一部分收入历来来自京东。</blockquote></p><p> <b>Looking ahead.</b>Investors can view JD Logistics going public as a way to play a few familiar high-tech trends, including artificial intelligence and 5G-linked breakthroughs in autonomous vehicles and robots. These technologies have serious implications for supply chains. More broadly, JD Logistics would be another way to gain exposure to the e-commerce sector as consumer spending ramps up—in China and around the world—with the economic recovery from the Covid-19 pandemic.</p><p><blockquote><b>展望未来。</b>投资者可以将京东物流的上市视为玩转一些熟悉的高科技趋势的一种方式，包括人工智能以及自动驾驶汽车和机器人领域的5G相关突破。这些技术对供应链有着严重的影响。更广泛地说，随着中国和世界各地的消费者支出随着 Covid-19 大流行的经济复苏而增加，京东物流将是进入电子商务领域的另一种方式。</blockquote></p><p> But investors must be aware that the group would go public into a tough regulatory environment, with Chinese regulators cracking down on tech companies. Last month, regulators warned 13 groups, including a JD.com subsidiary, over antitrust issues, and share prices in the sector have faced headwinds since February amid rising interest rates and regulatory concerns in both the U.S. and China.</p><p><blockquote>但投资者必须意识到，该集团将在严峻的监管环境中上市，中国监管机构将打击科技公司。上个月，监管机构就反垄断问题向包括京东子公司在内的 13 家集团发出警告，由于中美两国利率上升和监管担忧，该行业的股价自 2 月份以来一直面临阻力。</blockquote></p><p> And the market has had recent cause for concern about the Chinese tech and logistics sector more broadly. One of JD Logistics’ competitors, SF Holding, saw its stock price crash more than 44% from highs in February after it posted a surprise quarterly loss. That prompted questions about lofty valuations beyond SF, which is China’s largest listed courier group. Expect JD Logistics to face similar scrutiny.</p><p><blockquote>市场最近有理由对更广泛的中国科技和物流行业感到担忧。京东物流的竞争对手之一顺丰控股在公布季度意外亏损后，其股价从 2 月份的高点暴跌了 44% 以上。这引发了人们对中国最大的上市快递集团顺丰以外的高估值的质疑。预计京东物流也将面临类似的审查。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/chinese-giant-jd-com-seeks-3-4-billion-in-logistics-ipo-heres-what-to-know-51621265204?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"02618":"京东物流","09618":"京东集团-SW","JD":"京东"},"source_url":"https://www.barrons.com/articles/chinese-giant-jd-com-seeks-3-4-billion-in-logistics-ipo-heres-what-to-know-51621265204?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197102420","content_text":"After a blockbuster year for e-commerce boosted by the Covid-19 pandemic, China’s JD.com is seeking to raise up to $3.4 billion by listing its logistics arm.\nJD Logistics is an integrated supply-chain player in China, offering services from warehousing to distribution, from manufacturer to end customer. Its initial public offering is set to be one of the largest in Hong Kong this year.\nShares in the e-commerce giant JD.com closed less than 1% lower in Hong Kong, while its Nasdaq-listed U.S. shares similarly fell less than 1%.\nThe back story.JD.com—one of China’s internet giants —established its in-house logistics division in 2007. The group built out warehousing and delivery infrastructure and supply-chain technologies through this division for a decade, before formally spinning out the company in 2017. Since then, JD Logistics has continued to serve JD.com, alongside offering services to external clients.\nThe company operated more than 900 warehouses across China by the end of 2020, with its logistics network using high-tech tools like self-driving vehicles and autonomous robots. Its 32 “smart mega warehouses” across China include a fully unmanned center in Shanghai.\nSince being spun off in 2017, JD Logistics has grown quickly, with revenue growth of 32% between 2018 and 2019 and 47% from 2019 to 2020. It recorded net losses of more than 2 billion yuan ($300 million) in both 2018 and 2019, and a net loss of 4 billion yuan in 2020. The group expects its net loss for 2021 to “increase significantly” compared with 2020, in part due to lower profit margins from a decrease in government support related to the Covid-19 pandemic.\nJD.com floated its pharmaceutical and health services division, JD Health, in Hong Kong in December 2020, raising $3.5 billion, and itself listed in Hong Kong in June 2020 after years of its shares being traded on the Nasdaq.\nWhat’s new.JD.com said on Monday that it would seek to raise up to 264,132 million Hong Kong dollars ($3.4 billion) through the listing of JD Logistics. The IPO would be the second-largest in Hong Kong in 2021, since Tencent-backed video-sharing app Kuaishou floated in February to raise $5.4 billion.\nJD Logistics intends to issue 609.2 million shares—around 10% of its stock—within an expected price range of HK$39.36 to HK$43.36, according to filings. The company is slated to retain more than 64% of the total shares. An overallotment option, or green shoe, would allow for the sale of another 91 million shares to raise up to a further $510 million.\nCornerstone investors including Softbank’s Vision Fund, Tiger Global, Blackstone, and Temasek Holdings—Singapore’s state-backed investment company—have committed to buying around $1.5 billion worth of shares. The final pricing for the IPO is expected on Friday, before the shares begin trading on May 28.Bank of America,Goldman Sachs,and Chinese investment bank Haitong are the joint sponsors of the IPO.\nIn its prospectus, the group made the case that it was a tech-driven supply-chain and logistics expert, with proprietary tools allowing it to substantially improve the operational efficiencies of customers’ supply chains. The key risks to JD Logistics’ business, according to the filings, include intense competition in the e-commerce and services space, Chinese macroeconomic conditions, and the fact that a significant portion of its revenue has historically come from JD.com.\nLooking ahead.Investors can view JD Logistics going public as a way to play a few familiar high-tech trends, including artificial intelligence and 5G-linked breakthroughs in autonomous vehicles and robots. These technologies have serious implications for supply chains. More broadly, JD Logistics would be another way to gain exposure to the e-commerce sector as consumer spending ramps up—in China and around the world—with the economic recovery from the Covid-19 pandemic.\nBut investors must be aware that the group would go public into a tough regulatory environment, with Chinese regulators cracking down on tech companies. Last month, regulators warned 13 groups, including a JD.com subsidiary, over antitrust issues, and share prices in the sector have faced headwinds since February amid rising interest rates and regulatory concerns in both the U.S. and China.\nAnd the market has had recent cause for concern about the Chinese tech and logistics sector more broadly. One of JD Logistics’ competitors, SF Holding, saw its stock price crash more than 44% from highs in February after it posted a surprise quarterly loss. That prompted questions about lofty valuations beyond SF, which is China’s largest listed courier group. Expect JD Logistics to face similar scrutiny.","news_type":1,"symbols_score_info":{"09618":0.9,"02618":0.9,"JD":0.9}},"isVote":1,"tweetType":1,"viewCount":1787,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194939889,"gmtCreate":1621332342941,"gmtModify":1634192386942,"author":{"id":"3584310010229768","authorId":"3584310010229768","name":"franny","avatar":"https://static.tigerbbs.com/7eae4d407413d58b9cc6db4b317c5b2a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3584310010229768","idStr":"3584310010229768"},"themes":[],"title":"","htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/194939889","repostId":"1197358072","repostType":4,"repost":{"id":"1197358072","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1621330963,"share":"https://www.laohunote.com/m/news/1197358072?lang=zh_CN&edition=full","pubTime":"2021-05-18 17:42","market":"us","language":"en","title":"Baidu's 1Q Results Beat Estimates<blockquote>百度第一季度业绩超出预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1197358072","media":"Tiger Newspress","summary":"Baidu, Inc. today announced its unaudited financial results for the first quarter ended March 31, 20","content":"<p>Baidu, Inc.&nbsp;today announced its unaudited financial results for the first quarter ended March 31, 2021.</p><p><blockquote>百度公司今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p>“We are delighted to bring innovation across many sectors, including marketing cloud, enterprise cloud, smart transportation, autonomous driving, smart assistant and AI chip, through our decadelong investment in AI,” said Robin Li, co-founder and CEO of Baidu. “With AI powering the next stage of technology growth, many Baidu alumni have rejoined us, and our employees are energized from working on intelligent computing that can improve daily life and make the complex world simpler.”</p><p><blockquote>“百度联合创始人兼首席执行官李彦宏说：”我们很高兴通过长达十年的人工智能投资，为营销云、企业云、智能交通、自动驾驶、智能助理和人工智能芯片等多个领域带来创新。“随着人工智能推动技术发展的下一阶段，许多百度校友重新加入了我们的行列，我们的员工在智能计算方面充满活力，智能计算可以改善日常生活，让复杂的世界变得更简单。”</blockquote></p><p>“Baidu Core delivered a strong first quarter with revenue growing 34% year over year, powered by non-advertising revenue growing 70% year over year,” said Herman Yu, CFO of Baidu. “We will continue to invest heavily in sales, R&amp;D and operations to support the rapid growth of our AIpowered business.”</p><p><blockquote>“百度首席财务官 Herman Yu 说：”百度核心第一季度业绩强劲，收入同比增长 34%，非广告收入同比增长 70%。“我们将继续在销售、研发和运营方面投入巨资，以支持我们人工智能驱动业务的快速增长。”</blockquote></p><p><img src=\"https://static.tigerbbs.com/afb3caa729e48033c7dab8a4f9a02037\" tg-width=\"1187\" tg-height=\"697\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/15444e314a05131c16849f758e6776ea\" tg-width=\"1186\" tg-height=\"417\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Baidu&nbsp;stock&nbsp;surged&nbsp;3.6%&nbsp;in aftermarket trading.</p><p><blockquote>百度股价在盘后交易中飙升3.6%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/527d3dc60d4d86fc726bc558f46055cb\" tg-width=\"1302\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Other Highlights</b></p><p><blockquote><b>其他亮点</b></blockquote></p><p><b><i>Corporate</i></b></p><p><blockquote><b><i>公司的</i></b></blockquote></p><p><ul><li>Baidu ranks Top 3 in cloud services and No.1 in the utilization of renewable energy for data centers, according to Greenpeace, a global environmental organization, based on itsApril 2021report<i>Clean Cloud: Tracking Renewable Energy Use inChina'sTech Industry</i>.</li><li>Baidu released its annual ESG Report inFebruary 2021, which details Baidu's ESG policies and sustainability initiatives (http://esg.baidu.com/en/esg_download.html).</li><li>OnMarch 23, 2021, Baidu listed on the HKEX (9888) through a global offering of 95,000,000 Class A ordinary shares, receiving$3.1 billionin net proceeds.</li><li>Baidu returnedUS$300 millionto shareholders under the 2020 Share Repurchase Program this year, bringing the cumulative repurchase to$2.2 billionsince 2020.</li></ul><b><i>AI Cloud</i></b></p><p><blockquote><ul><li>根据全球环保组织绿色和平组织2021年4月的报告，百度在云服务方面排名前三，在数据中心可再生能源利用方面排名第一<i>清洁云：追踪中国科技行业的可再生能源使用</i>.</li><li>百度于2021年2月发布了年度ESG报告，详细介绍了百度的ESG政策和可持续发展举措（http://esg.baidu.com/en/esg_download.html）。</li><li>2021年3月23日，百度通过全球发售95,000,000股A类普通股在香港交易所上市（9888），募集资金净额31亿美元。</li><li>百度今年根据2020年股票回购计划向股东返还了3亿美元，使2020年以来的累计回购金额达到22亿美元。</li></ul><b><i>AI云</i></b></blockquote></p><p><ul><li>Baidu EasyDL, a simple to use machine learning service, was rated No.1 in terms of usage inChina, per IDC inDecember 2020, topping the list for the second time.</li><li>Baidu deep learning framework PaddlePaddle, upgraded to v2.0 inMarch 2021, was ranked among the Top 3 globally in terms of usage based on pull request, according to Github.</li><li>A leading retail bank inChinaimplemented Baidu's AI PaaS, which has led to five follow-on purchases, including application to automate customer service and consumer loan approval, and the recent purchase of private cloud services.</li><li>Baidu partnered with the online arm ofChina'slargest TV network CCTV to implement Baidu AI PaaS with capabilities to automate video clip creation and tagging from live broadcasting and use smart assistant to quickly locate desired video content. During an important annual event, Baidu enabledCCTV.comto simultaneously interview congressional meeting participants with AI reporters, powered by Baidu Brain, and timely share these interviews on the Internet.</li><li>Chongqing, which implemented Apollo V2X last year, marking Baidu's entry into westernChina, signed with Apollo to make its smart transportation infrastructure 5G enabled, to support robotaxi ride hailing operation.</li><li>Chengdu(Sichuan), a leader in science and technology development, signed with Apollo to implement V2X vehicle-to-road infrastructure.</li></ul><b><i>Intelligent Driving</i></b></p><p><blockquote><ul><li>根据IDC 2020年12月的数据，易于使用的机器学习服务百度EasyDL在中国的使用量排名第一，第二次位居榜首。</li><li>根据 Github 的数据，百度深度学习框架 PaddlePaddle 于 2021 年 3 月升级至 v2.0，在基于拉取请求的使用方面位列全球前三名。</li><li>中国一家领先的零售银行实施了百度的人工智能PaaS，这导致了五项后续采购，包括申请自动化客户服务和消费贷款审批，以及最近购买私有云服务。</li><li>百度与中国最大的电视网络中央电视台的在线部门合作，实施百度人工智能PaaS，能够自动从直播中创建和标记视频剪辑，并使用智能助手快速定位所需的视频内容。在一次重要的年度活动中，百度使CCTV.com能够在百度大脑的支持下，用人工智能记者同时采访国会会议参与者，并及时在互联网上分享这些采访。</li><li>重庆去年实施了Apollo V2X，标志着百度进入中国西部，重庆与Apollo签署协议，使其智能交通基础设施支持5G，以支持robotaxi打车运营。</li><li>科技发展的领导者成都（四川）与阿波罗签署协议，实施V2X车路基础设施。</li></ul><b><i>智能驾驶</i></b></blockquote></p><p></p><p><ul><li>Apollo has accumulated 6.2 million miles of L4 autonomous driving testing on the road and 600 million miles of simulated testing since its founding in 2013.</li><li>Apollo received permit to test autonomous driving at night and under special weather conditions on public roads inBeijing. Apollo also received permits to pilot fully autonomous driving inBeijing, Cangzhou (Hebei), andChangsha(Hunan).</li><li>Apollo Go,China'sfirst fully autonomous ride-hailing, is now available at theShougang Park, a Beijing 2022 Winter Olympics site.</li><li>Apollo Gobegins to charge for robotaxi ride hailing in Cangzhou, based on the distance traveled starting with a minimum fare, similarly to regular ride hailing.</li><li>The total addressable market for robotaxi ride hailing will reachUS$224 billioninChinaby 2025, according to China Insights Consultancy, a market research and consulting company.</li><li>Jidu Auto, an intelligent EV company established in partnership withZhejiang Geely Holding Group, appointedYiping Xiaas its CEO.Mr. Xiapreviously served as CTO at Mobike and held positions atFiat Chryslerand Ford.</li><li>Guangzhou Automobile Group joins Apollo's network of over 10 leading automakers to install Apollo Self Driving (ASD) services in its new vehicles.</li><li>Guidehouse Insights (previouslyNavigant Research) has rated Baidu in the \"leader\" category for the second consecutive year, the only Chinese company honored among the four AI companies selected globally for this category. Apollo's open platform, to empower Jidu and other automakers as well asApollo Gorobotaxi, puts Apollo in a unique position to be well funded and widely adopted.</li><li>DuerOS for Auto, powering infotainment, has been installed in over 1.5 million new vehicles, recorded Q1 2021 installation more than doubled from the prior year.</li></ul><b><i>Other Growth Initiatives</i></b></p><p><blockquote><ul><li>自2013年成立以来，Apollo已经累计完成了620万英里的L4级自动驾驶道路测试和6亿英里的模拟测试。</li><li>阿波罗获得了在北京公共道路上夜间和特殊天气条件下测试自动驾驶的许可。阿波罗还获得了在北京、沧州（河北）和长沙（湖南）试点全自动驾驶的许可。</li><li>中国首个全自动打车服务 Apollo Go 现已在北京 2022 年冬奥会举办地首钢公园推出。</li><li>Apollo Go开始对沧州的机器人出租车打车收费，基于最低票价的行驶距离，类似于常规打车。</li><li>据市场研究和咨询公司 China Insights Consultancy 称，到 2025 年，中国机器人出租车打车的潜在市场总额将达到 2240 亿美元。</li><li>与浙江吉利控股集团合作成立的智能电动汽车公司集度汽车任命夏一平为首席执行官。夏曾担任摩拜单车首席技术官，并在菲亚特克莱斯勒和福特任职。</li><li>广汽集团加入阿波罗由10多家领先汽车制造商组成的网络，在其新车中安装阿波罗自动驾驶（ASD）服务。</li><li>Guidehouse Insights（前身为Navigant Research）连续第二年将百度评为“领导者”类别，这是全球入选该类别的四家人工智能公司中唯一一家获此殊荣的中国公司。Apollo 的开放平台旨在为 Jidu 和其他汽车制造商以及 asApollo Gorobotaxi 提供支持，使 Apollo 处于获得充足资金和广泛采用的独特地位。</li><li>为信息娱乐系统提供动力的DuerOS for Auto已安装在超过150万辆新车上，2021年第一季度的安装量比上一年增加了一倍多。</li></ul><b><i>其他增长举措</i></b></blockquote></p><p><ul><li>DuerOS monthly voice queries reached 6.6 billion with first-party voice queries reaching 3.9 billion inMarch 2021.</li><li>Xiaodu ranked No.1 in smart display shipments globally and No.1 in smart speaker shipments inChinafor 2020, according to IDC, Strategy Analytics and Canalys.</li><li>Xiaodu S12 smart pad for the education market was introduced in March with an MSRP of 1,699.</li><li>Baidu Kunlun completed its first round of funding at a post-money valuation of$2 billioninApril 2021. Kunlun chips are designed to optimize AI workload and improve cloud cost structure.</li></ul><i>Mobile Ecosystem</i></p><p><blockquote><ul><li>2021年3月，DuerOS每月语音查询量达到66亿次，第一方语音查询量达到39亿次。</li><li>根据IDC、Strategy Analytics和Canalys的数据，小度在2020年全球智能显示器出货量排名第一，在中国智能音箱出货量排名第一。</li><li>面向教育市场的小度S12智能平板于3月份推出，建议零售价为1699元。</li><li>百度昆仑于2021年4月完成首轮融资，投后估值为20亿美元。昆仑芯片旨在优化AI工作负载，改善云成本结构。</li></ul><i>移动生态系统</i></blockquote></p><p><ul><li>Baidu has strengthened its strong Internet foundation with Baidu App monthly active users (MAUs) reaching 558 million and daily logged in users reaching over 75% inMarch 2021.</li><li>Baidu's AI building blocks are helping creators, service providers and merchants better engage with users and perform user life-time management:</li><li>BJH publisher accounts grew 40% year over year to reached 4.2 million.</li><li>Smart Mini Program MAUs reached 416 million, and the number of SMPs grew 74% from a year ago; and</li><li>Revenue from Managed Page accounted for 35% of Baidu Core's online marketing revenue, up from 21% a year ago.</li></ul><b><i>iQIYI</i></b></p><p><blockquote><ul><li>百度巩固了其强大的互联网基础，截至2021年3月，百度应用的月活跃用户（MAU）达到5.58亿，日登录用户达到75%以上。</li><li>百度的AI构建模块正在帮助创作者、服务商和商家更好地与用户互动，进行用户生命周期管理：</li><li>BJH 出版商账户同比增长 40%，达到 420 万。</li><li>智能小程序MAU达到4.16亿，SMP数量同比增长74%；和</li><li>来自托管页面的收入占百度核心在线营销收入的 35%，高于一年前的 21%。</li></ul><b><i>爱奇艺</i></b></blockquote></p><p>iQIYI subscribers reached 105.3 million as ofMarch 31, 2021, serving as a strong foundation to support its over 50 in-house studios and produce entertainment blockbuster originals. iQIYI's net loss narrowed toRMB1.3 billionin Q1 21, compared toRMB 2.9 billionfrom a year ago.</p><p><blockquote>截至2021年3月31日，爱奇艺订户达到1.053亿，为支持其50多个内部工作室和制作原创娱乐大片奠定了坚实基础。爱奇艺 2021 年第一季度净亏损收窄至 13 亿美元，而去年同期为 29 亿美元。</blockquote></p><p><b>First Quarter 2021 Results</b></p><p><blockquote><b>2021 年第一季度业绩</b></blockquote></p><p><b>Total revenues</b>wereRMB 28.1 billion($4.29 billion), increasing 25% year over year.</p><p><blockquote><b>收入总额</b>人民币281亿元（42.9亿美元），同比增长25%。</blockquote></p><p><ul><li><b>Revenue from Baidu Core</b>&nbsp;was&nbsp;RMB 20.5 billion($3.13 billion), increasing 34% year over year.<b>Online marketing revenue</b>&nbsp;was&nbsp;RMB 16.3 billion($2.48 billion), up 27% year over year.<b>Non-marketing revenue</b>&nbsp;was&nbsp;RMB 4.2 billion($646 million), up 70% year over year, driven by cloud and other services.</li><li><b>Revenue from iQIYI</b>&nbsp;was&nbsp;RMB 8.0 billion($1.22 billion), increasing 4% year over year.</li></ul><b>Cost of revenues</b>&nbsp;was&nbsp;RMB 15.0 billion($2.29 billion), increasing 2% year over year, primarily due to an increase in traffic acquisition costs and cost of goods sold, offset by a decrease in content costs and the amortization/impairment of intangible assets.</p><p><blockquote><ul><li><b>百度核心收入</b>为人民币 205 亿元（31.3 亿美元），同比增长 34%。<b>网络营销收入</b>为人民币 163 亿元（24.8 亿美元），同比增长 27%。<b>非营销收入</b>受云计算和其他服务的推动，销售额为 42 亿元人民币（6.46 亿美元），同比增长 70%。</li><li><b>来自爱奇艺的收入</b>为人民币 80 亿元（12.2 亿美元），同比增长 4%。</li></ul><b>收入成本</b>为人民币 150 亿元（22.9 亿美元），同比增长 2%，主要是由于流量获取成本和销售商品成本增加，但被内容成本和无形资产摊销/减值的减少所抵消。</blockquote></p><p><b>Selling, general and administrative expenses</b>&nbsp;were&nbsp;RMB 5.2 billion($800 million), increasing 36% year over year, primarily due to an increase in channel spending and promotional expenses.</p><p><blockquote><b>销售、一般及行政开支</b>为人民币 52 亿元（8 亿美元），同比增长 36%，主要是由于渠道支出和促销费用的增加。</blockquote></p><p><b>Research and development expense</b>wasRMB 5.1 billion($778 million), increasing 15% year over year, primarily related to personnel-related expenses.</p><p><blockquote><b>研发开支</b>为人民币51亿元（7.78亿美元），同比增长15%，主要与人员相关费用有关。</blockquote></p><p></p><p><b>Operating income</b>&nbsp;was&nbsp;RMB 2.8 billion($426 million).<b>Baidu Core operating income</b>&nbsp;was&nbsp;RMB 3.8 billion($587 million), and Baidu Core operating margin was 19%.<b>Non-GAAP operating income</b>&nbsp;was&nbsp;RMB 4.4 billion($666 million).<b>Non-GAAP Baidu Core operating income</b>&nbsp;was&nbsp;RMB 5.1 billion($773 million), and non-GAAP Baidu Core operating margin was 25%.</p><p><blockquote><b>经营利润</b>为人民币 28 亿元（4.26 亿美元）。<b>百度核心经营利润</b>为人民币38亿元（5.87亿美元），百度核心营业利润率为19%。<b>非美国通用会计准则经营利润</b>为人民币44亿元（6.66亿美元）。<b>非 GAAP 百度核心经营利润</b>为51亿元人民币（7.73亿美元），非GAAP百度核心营业利润率为25%。</blockquote></p><p><b>Total other income, net</b>&nbsp;was&nbsp;RMB 23.8 billion($3.63 billion), which included a fair value gain ofRMB 23.7 billionfrom long-term investments,&nbsp;mainly&nbsp;including a gain from the investment in Kuaishou Technology.</p><p><blockquote><b>其他收入总额，净额</b>为人民币 238 亿元（36.3 亿美元），其中包括长期投资的公允价值收益人民币 237 亿元，主要包括快手科技投资收益。</blockquote></p><p><b>Income tax expense</b>&nbsp;was&nbsp;RMB 1.5 billion($234 million), compared toRMB 198 millionlast year, primarily due to the increase in profit.</p><p><blockquote><b>所得税开支</b>为人民币 15 亿元（2.34 亿美元），而去年为 1.98 亿元，主要是由于利润增加。</blockquote></p><p><b>Net income attributable to Baidu</b>&nbsp;was&nbsp;RMB 25.7 billion($3.92 billion), and diluted earnings per ADS wasRMB 73.76($11.26).<b>Net income attributable to Baidu Core</b>&nbsp;was&nbsp;RMB 26.4 billion($4.02 billion).<b>Non-GAAP net income attributable to Baidu</b>&nbsp;was&nbsp;RMB 4.3 billion($656 million), and non-GAAP diluted earnings per ADS wasRMB 12.38($1.89).<b>Non-GAAP net income attributable to Baidu Core</b>&nbsp;was&nbsp;RMB 4.9 billion($743 million).</p><p><blockquote><b>百度应占净利润</b>为人民币 257 亿元（39.2 亿美元），每股美国存托凭证摊薄收益为人民币 73.76 元（11.26 美元）。<b>百度核心应占净利润</b>为人民币 264 亿元（40.2 亿美元）。<b>非公认会计准则归属于百度的净利润</b>为人民币 43 亿元（6.56 亿美元），非 GAAP 每股美国存托凭证摊薄收益为人民币 12.38 元（1.89 美元）。<b>非公认会计准则归属于百度核心的净利润</b>为人民币49亿元（7.43亿美元）。</blockquote></p><p><b>Adjusted EBITDA</b>&nbsp;was&nbsp;RMB 5.9 billion&nbsp;($901 million).<b>Adjusted EBITDA for Baidu Core</b>wasRMB 6.5 billion($990 million) and adjusted EBITDA margin for Baidu Core was 32%.</p><p><blockquote><b>调整后 EBITDA</b>为人民币 59 亿元（9.01 亿美元）。<b>百度核心调整后 EBITDA</b>为人民币 65 亿元（9.9 亿美元），百度核心调整后 EBITDA 利润率为 32%。</blockquote></p><p>As ofMarch 31, 2021,<b>cash, cash equivalents, restricted cash and short-term investments</b>&nbsp;were&nbsp;RMB 172.9 billion($26.40 billion), and&nbsp;<b>cash, cash equivalents, restricted cash and short-term investments excluding iQIYI</b>&nbsp;were&nbsp;RMB 159.6 billion($24.37 billion).<b>Free cash flow</b>&nbsp;was&nbsp;RMB 2.6 billion($400 million), and&nbsp;<b>free cash flow excluding iQIYI</b>&nbsp;was&nbsp;RMB 4.0 billion($615 million).</p><p><blockquote>截至2021年3月31日，<b>现金、现金等价物、受限制现金及短期投资</b>为人民币 1,729 亿元（264.0 亿美元），<b>现金、现金等价物、受限制现金及不包括爱奇艺的短期投资</b>为人民币 1,596 亿元（243.7 亿美元）。<b>自由现金流</b>为人民币26亿元（4亿美元），<b>不含爱奇艺的自由现金流</b>为人民币 40 亿元（6.15 亿美元）。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Baidu's 1Q Results Beat Estimates<blockquote>百度第一季度业绩超出预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBaidu's 1Q Results Beat Estimates<blockquote>百度第一季度业绩超出预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-18 17:42</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Baidu, Inc.&nbsp;today announced its unaudited financial results for the first quarter ended March 31, 2021.</p><p><blockquote>百度公司今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p>“We are delighted to bring innovation across many sectors, including marketing cloud, enterprise cloud, smart transportation, autonomous driving, smart assistant and AI chip, through our decadelong investment in AI,” said Robin Li, co-founder and CEO of Baidu. “With AI powering the next stage of technology growth, many Baidu alumni have rejoined us, and our employees are energized from working on intelligent computing that can improve daily life and make the complex world simpler.”</p><p><blockquote>“百度联合创始人兼首席执行官李彦宏说：”我们很高兴通过长达十年的人工智能投资，为营销云、企业云、智能交通、自动驾驶、智能助理和人工智能芯片等多个领域带来创新。“随着人工智能推动技术发展的下一阶段，许多百度校友重新加入了我们的行列，我们的员工在智能计算方面充满活力，智能计算可以改善日常生活，让复杂的世界变得更简单。”</blockquote></p><p>“Baidu Core delivered a strong first quarter with revenue growing 34% year over year, powered by non-advertising revenue growing 70% year over year,” said Herman Yu, CFO of Baidu. “We will continue to invest heavily in sales, R&amp;D and operations to support the rapid growth of our AIpowered business.”</p><p><blockquote>“百度首席财务官 Herman Yu 说：”百度核心第一季度业绩强劲，收入同比增长 34%，非广告收入同比增长 70%。“我们将继续在销售、研发和运营方面投入巨资，以支持我们人工智能驱动业务的快速增长。”</blockquote></p><p><img src=\"https://static.tigerbbs.com/afb3caa729e48033c7dab8a4f9a02037\" tg-width=\"1187\" tg-height=\"697\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/15444e314a05131c16849f758e6776ea\" tg-width=\"1186\" tg-height=\"417\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Baidu&nbsp;stock&nbsp;surged&nbsp;3.6%&nbsp;in aftermarket trading.</p><p><blockquote>百度股价在盘后交易中飙升3.6%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/527d3dc60d4d86fc726bc558f46055cb\" tg-width=\"1302\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Other Highlights</b></p><p><blockquote><b>其他亮点</b></blockquote></p><p><b><i>Corporate</i></b></p><p><blockquote><b><i>公司的</i></b></blockquote></p><p><ul><li>Baidu ranks Top 3 in cloud services and No.1 in the utilization of renewable energy for data centers, according to Greenpeace, a global environmental organization, based on itsApril 2021report<i>Clean Cloud: Tracking Renewable Energy Use inChina'sTech Industry</i>.</li><li>Baidu released its annual ESG Report inFebruary 2021, which details Baidu's ESG policies and sustainability initiatives (http://esg.baidu.com/en/esg_download.html).</li><li>OnMarch 23, 2021, Baidu listed on the HKEX (9888) through a global offering of 95,000,000 Class A ordinary shares, receiving$3.1 billionin net proceeds.</li><li>Baidu returnedUS$300 millionto shareholders under the 2020 Share Repurchase Program this year, bringing the cumulative repurchase to$2.2 billionsince 2020.</li></ul><b><i>AI Cloud</i></b></p><p><blockquote><ul><li>根据全球环保组织绿色和平组织2021年4月的报告，百度在云服务方面排名前三，在数据中心可再生能源利用方面排名第一<i>清洁云：追踪中国科技行业的可再生能源使用</i>.</li><li>百度于2021年2月发布了年度ESG报告，详细介绍了百度的ESG政策和可持续发展举措（http://esg.baidu.com/en/esg_download.html）。</li><li>2021年3月23日，百度通过全球发售95,000,000股A类普通股在香港交易所上市（9888），募集资金净额31亿美元。</li><li>百度今年根据2020年股票回购计划向股东返还了3亿美元，使2020年以来的累计回购金额达到22亿美元。</li></ul><b><i>AI云</i></b></blockquote></p><p><ul><li>Baidu EasyDL, a simple to use machine learning service, was rated No.1 in terms of usage inChina, per IDC inDecember 2020, topping the list for the second time.</li><li>Baidu deep learning framework PaddlePaddle, upgraded to v2.0 inMarch 2021, was ranked among the Top 3 globally in terms of usage based on pull request, according to Github.</li><li>A leading retail bank inChinaimplemented Baidu's AI PaaS, which has led to five follow-on purchases, including application to automate customer service and consumer loan approval, and the recent purchase of private cloud services.</li><li>Baidu partnered with the online arm ofChina'slargest TV network CCTV to implement Baidu AI PaaS with capabilities to automate video clip creation and tagging from live broadcasting and use smart assistant to quickly locate desired video content. During an important annual event, Baidu enabledCCTV.comto simultaneously interview congressional meeting participants with AI reporters, powered by Baidu Brain, and timely share these interviews on the Internet.</li><li>Chongqing, which implemented Apollo V2X last year, marking Baidu's entry into westernChina, signed with Apollo to make its smart transportation infrastructure 5G enabled, to support robotaxi ride hailing operation.</li><li>Chengdu(Sichuan), a leader in science and technology development, signed with Apollo to implement V2X vehicle-to-road infrastructure.</li></ul><b><i>Intelligent Driving</i></b></p><p><blockquote><ul><li>根据IDC 2020年12月的数据，易于使用的机器学习服务百度EasyDL在中国的使用量排名第一，第二次位居榜首。</li><li>根据 Github 的数据，百度深度学习框架 PaddlePaddle 于 2021 年 3 月升级至 v2.0，在基于拉取请求的使用方面位列全球前三名。</li><li>中国一家领先的零售银行实施了百度的人工智能PaaS，这导致了五项后续采购，包括申请自动化客户服务和消费贷款审批，以及最近购买私有云服务。</li><li>百度与中国最大的电视网络中央电视台的在线部门合作，实施百度人工智能PaaS，能够自动从直播中创建和标记视频剪辑，并使用智能助手快速定位所需的视频内容。在一次重要的年度活动中，百度使CCTV.com能够在百度大脑的支持下，用人工智能记者同时采访国会会议参与者，并及时在互联网上分享这些采访。</li><li>重庆去年实施了Apollo V2X，标志着百度进入中国西部，重庆与Apollo签署协议，使其智能交通基础设施支持5G，以支持robotaxi打车运营。</li><li>科技发展的领导者成都（四川）与阿波罗签署协议，实施V2X车路基础设施。</li></ul><b><i>智能驾驶</i></b></blockquote></p><p></p><p><ul><li>Apollo has accumulated 6.2 million miles of L4 autonomous driving testing on the road and 600 million miles of simulated testing since its founding in 2013.</li><li>Apollo received permit to test autonomous driving at night and under special weather conditions on public roads inBeijing. Apollo also received permits to pilot fully autonomous driving inBeijing, Cangzhou (Hebei), andChangsha(Hunan).</li><li>Apollo Go,China'sfirst fully autonomous ride-hailing, is now available at theShougang Park, a Beijing 2022 Winter Olympics site.</li><li>Apollo Gobegins to charge for robotaxi ride hailing in Cangzhou, based on the distance traveled starting with a minimum fare, similarly to regular ride hailing.</li><li>The total addressable market for robotaxi ride hailing will reachUS$224 billioninChinaby 2025, according to China Insights Consultancy, a market research and consulting company.</li><li>Jidu Auto, an intelligent EV company established in partnership withZhejiang Geely Holding Group, appointedYiping Xiaas its CEO.Mr. Xiapreviously served as CTO at Mobike and held positions atFiat Chryslerand Ford.</li><li>Guangzhou Automobile Group joins Apollo's network of over 10 leading automakers to install Apollo Self Driving (ASD) services in its new vehicles.</li><li>Guidehouse Insights (previouslyNavigant Research) has rated Baidu in the \"leader\" category for the second consecutive year, the only Chinese company honored among the four AI companies selected globally for this category. Apollo's open platform, to empower Jidu and other automakers as well asApollo Gorobotaxi, puts Apollo in a unique position to be well funded and widely adopted.</li><li>DuerOS for Auto, powering infotainment, has been installed in over 1.5 million new vehicles, recorded Q1 2021 installation more than doubled from the prior year.</li></ul><b><i>Other Growth Initiatives</i></b></p><p><blockquote><ul><li>自2013年成立以来，Apollo已经累计完成了620万英里的L4级自动驾驶道路测试和6亿英里的模拟测试。</li><li>阿波罗获得了在北京公共道路上夜间和特殊天气条件下测试自动驾驶的许可。阿波罗还获得了在北京、沧州（河北）和长沙（湖南）试点全自动驾驶的许可。</li><li>中国首个全自动打车服务 Apollo Go 现已在北京 2022 年冬奥会举办地首钢公园推出。</li><li>Apollo Go开始对沧州的机器人出租车打车收费，基于最低票价的行驶距离，类似于常规打车。</li><li>据市场研究和咨询公司 China Insights Consultancy 称，到 2025 年，中国机器人出租车打车的潜在市场总额将达到 2240 亿美元。</li><li>与浙江吉利控股集团合作成立的智能电动汽车公司集度汽车任命夏一平为首席执行官。夏曾担任摩拜单车首席技术官，并在菲亚特克莱斯勒和福特任职。</li><li>广汽集团加入阿波罗由10多家领先汽车制造商组成的网络，在其新车中安装阿波罗自动驾驶（ASD）服务。</li><li>Guidehouse Insights（前身为Navigant Research）连续第二年将百度评为“领导者”类别，这是全球入选该类别的四家人工智能公司中唯一一家获此殊荣的中国公司。Apollo 的开放平台旨在为 Jidu 和其他汽车制造商以及 asApollo Gorobotaxi 提供支持，使 Apollo 处于获得充足资金和广泛采用的独特地位。</li><li>为信息娱乐系统提供动力的DuerOS for Auto已安装在超过150万辆新车上，2021年第一季度的安装量比上一年增加了一倍多。</li></ul><b><i>其他增长举措</i></b></blockquote></p><p><ul><li>DuerOS monthly voice queries reached 6.6 billion with first-party voice queries reaching 3.9 billion inMarch 2021.</li><li>Xiaodu ranked No.1 in smart display shipments globally and No.1 in smart speaker shipments inChinafor 2020, according to IDC, Strategy Analytics and Canalys.</li><li>Xiaodu S12 smart pad for the education market was introduced in March with an MSRP of 1,699.</li><li>Baidu Kunlun completed its first round of funding at a post-money valuation of$2 billioninApril 2021. Kunlun chips are designed to optimize AI workload and improve cloud cost structure.</li></ul><i>Mobile Ecosystem</i></p><p><blockquote><ul><li>2021年3月，DuerOS每月语音查询量达到66亿次，第一方语音查询量达到39亿次。</li><li>根据IDC、Strategy Analytics和Canalys的数据，小度在2020年全球智能显示器出货量排名第一，在中国智能音箱出货量排名第一。</li><li>面向教育市场的小度S12智能平板于3月份推出，建议零售价为1699元。</li><li>百度昆仑于2021年4月完成首轮融资，投后估值为20亿美元。昆仑芯片旨在优化AI工作负载，改善云成本结构。</li></ul><i>移动生态系统</i></blockquote></p><p><ul><li>Baidu has strengthened its strong Internet foundation with Baidu App monthly active users (MAUs) reaching 558 million and daily logged in users reaching over 75% inMarch 2021.</li><li>Baidu's AI building blocks are helping creators, service providers and merchants better engage with users and perform user life-time management:</li><li>BJH publisher accounts grew 40% year over year to reached 4.2 million.</li><li>Smart Mini Program MAUs reached 416 million, and the number of SMPs grew 74% from a year ago; and</li><li>Revenue from Managed Page accounted for 35% of Baidu Core's online marketing revenue, up from 21% a year ago.</li></ul><b><i>iQIYI</i></b></p><p><blockquote><ul><li>百度巩固了其强大的互联网基础，截至2021年3月，百度应用的月活跃用户（MAU）达到5.58亿，日登录用户达到75%以上。</li><li>百度的AI构建模块正在帮助创作者、服务商和商家更好地与用户互动，进行用户生命周期管理：</li><li>BJH 出版商账户同比增长 40%，达到 420 万。</li><li>智能小程序MAU达到4.16亿，SMP数量同比增长74%；和</li><li>来自托管页面的收入占百度核心在线营销收入的 35%，高于一年前的 21%。</li></ul><b><i>爱奇艺</i></b></blockquote></p><p>iQIYI subscribers reached 105.3 million as ofMarch 31, 2021, serving as a strong foundation to support its over 50 in-house studios and produce entertainment blockbuster originals. iQIYI's net loss narrowed toRMB1.3 billionin Q1 21, compared toRMB 2.9 billionfrom a year ago.</p><p><blockquote>截至2021年3月31日，爱奇艺订户达到1.053亿，为支持其50多个内部工作室和制作原创娱乐大片奠定了坚实基础。爱奇艺 2021 年第一季度净亏损收窄至 13 亿美元，而去年同期为 29 亿美元。</blockquote></p><p><b>First Quarter 2021 Results</b></p><p><blockquote><b>2021 年第一季度业绩</b></blockquote></p><p><b>Total revenues</b>wereRMB 28.1 billion($4.29 billion), increasing 25% year over year.</p><p><blockquote><b>收入总额</b>人民币281亿元（42.9亿美元），同比增长25%。</blockquote></p><p><ul><li><b>Revenue from Baidu Core</b>&nbsp;was&nbsp;RMB 20.5 billion($3.13 billion), increasing 34% year over year.<b>Online marketing revenue</b>&nbsp;was&nbsp;RMB 16.3 billion($2.48 billion), up 27% year over year.<b>Non-marketing revenue</b>&nbsp;was&nbsp;RMB 4.2 billion($646 million), up 70% year over year, driven by cloud and other services.</li><li><b>Revenue from iQIYI</b>&nbsp;was&nbsp;RMB 8.0 billion($1.22 billion), increasing 4% year over year.</li></ul><b>Cost of revenues</b>&nbsp;was&nbsp;RMB 15.0 billion($2.29 billion), increasing 2% year over year, primarily due to an increase in traffic acquisition costs and cost of goods sold, offset by a decrease in content costs and the amortization/impairment of intangible assets.</p><p><blockquote><ul><li><b>百度核心收入</b>为人民币 205 亿元（31.3 亿美元），同比增长 34%。<b>网络营销收入</b>为人民币 163 亿元（24.8 亿美元），同比增长 27%。<b>非营销收入</b>受云计算和其他服务的推动，销售额为 42 亿元人民币（6.46 亿美元），同比增长 70%。</li><li><b>来自爱奇艺的收入</b>为人民币 80 亿元（12.2 亿美元），同比增长 4%。</li></ul><b>收入成本</b>为人民币 150 亿元（22.9 亿美元），同比增长 2%，主要是由于流量获取成本和销售商品成本增加，但被内容成本和无形资产摊销/减值的减少所抵消。</blockquote></p><p><b>Selling, general and administrative expenses</b>&nbsp;were&nbsp;RMB 5.2 billion($800 million), increasing 36% year over year, primarily due to an increase in channel spending and promotional expenses.</p><p><blockquote><b>销售、一般及行政开支</b>为人民币 52 亿元（8 亿美元），同比增长 36%，主要是由于渠道支出和促销费用的增加。</blockquote></p><p><b>Research and development expense</b>wasRMB 5.1 billion($778 million), increasing 15% year over year, primarily related to personnel-related expenses.</p><p><blockquote><b>研发开支</b>为人民币51亿元（7.78亿美元），同比增长15%，主要与人员相关费用有关。</blockquote></p><p></p><p><b>Operating income</b>&nbsp;was&nbsp;RMB 2.8 billion($426 million).<b>Baidu Core operating income</b>&nbsp;was&nbsp;RMB 3.8 billion($587 million), and Baidu Core operating margin was 19%.<b>Non-GAAP operating income</b>&nbsp;was&nbsp;RMB 4.4 billion($666 million).<b>Non-GAAP Baidu Core operating income</b>&nbsp;was&nbsp;RMB 5.1 billion($773 million), and non-GAAP Baidu Core operating margin was 25%.</p><p><blockquote><b>经营利润</b>为人民币 28 亿元（4.26 亿美元）。<b>百度核心经营利润</b>为人民币38亿元（5.87亿美元），百度核心营业利润率为19%。<b>非美国通用会计准则经营利润</b>为人民币44亿元（6.66亿美元）。<b>非 GAAP 百度核心经营利润</b>为51亿元人民币（7.73亿美元），非GAAP百度核心营业利润率为25%。</blockquote></p><p><b>Total other income, net</b>&nbsp;was&nbsp;RMB 23.8 billion($3.63 billion), which included a fair value gain ofRMB 23.7 billionfrom long-term investments,&nbsp;mainly&nbsp;including a gain from the investment in Kuaishou Technology.</p><p><blockquote><b>其他收入总额，净额</b>为人民币 238 亿元（36.3 亿美元），其中包括长期投资的公允价值收益人民币 237 亿元，主要包括快手科技投资收益。</blockquote></p><p><b>Income tax expense</b>&nbsp;was&nbsp;RMB 1.5 billion($234 million), compared toRMB 198 millionlast year, primarily due to the increase in profit.</p><p><blockquote><b>所得税开支</b>为人民币 15 亿元（2.34 亿美元），而去年为 1.98 亿元，主要是由于利润增加。</blockquote></p><p><b>Net income attributable to Baidu</b>&nbsp;was&nbsp;RMB 25.7 billion($3.92 billion), and diluted earnings per ADS wasRMB 73.76($11.26).<b>Net income attributable to Baidu Core</b>&nbsp;was&nbsp;RMB 26.4 billion($4.02 billion).<b>Non-GAAP net income attributable to Baidu</b>&nbsp;was&nbsp;RMB 4.3 billion($656 million), and non-GAAP diluted earnings per ADS wasRMB 12.38($1.89).<b>Non-GAAP net income attributable to Baidu Core</b>&nbsp;was&nbsp;RMB 4.9 billion($743 million).</p><p><blockquote><b>百度应占净利润</b>为人民币 257 亿元（39.2 亿美元），每股美国存托凭证摊薄收益为人民币 73.76 元（11.26 美元）。<b>百度核心应占净利润</b>为人民币 264 亿元（40.2 亿美元）。<b>非公认会计准则归属于百度的净利润</b>为人民币 43 亿元（6.56 亿美元），非 GAAP 每股美国存托凭证摊薄收益为人民币 12.38 元（1.89 美元）。<b>非公认会计准则归属于百度核心的净利润</b>为人民币49亿元（7.43亿美元）。</blockquote></p><p><b>Adjusted EBITDA</b>&nbsp;was&nbsp;RMB 5.9 billion&nbsp;($901 million).<b>Adjusted EBITDA for Baidu Core</b>wasRMB 6.5 billion($990 million) and adjusted EBITDA margin for Baidu Core was 32%.</p><p><blockquote><b>调整后 EBITDA</b>为人民币 59 亿元（9.01 亿美元）。<b>百度核心调整后 EBITDA</b>为人民币 65 亿元（9.9 亿美元），百度核心调整后 EBITDA 利润率为 32%。</blockquote></p><p>As ofMarch 31, 2021,<b>cash, cash equivalents, restricted cash and short-term investments</b>&nbsp;were&nbsp;RMB 172.9 billion($26.40 billion), and&nbsp;<b>cash, cash equivalents, restricted cash and short-term investments excluding iQIYI</b>&nbsp;were&nbsp;RMB 159.6 billion($24.37 billion).<b>Free cash flow</b>&nbsp;was&nbsp;RMB 2.6 billion($400 million), and&nbsp;<b>free cash flow excluding iQIYI</b>&nbsp;was&nbsp;RMB 4.0 billion($615 million).</p><p><blockquote>截至2021年3月31日，<b>现金、现金等价物、受限制现金及短期投资</b>为人民币 1,729 亿元（264.0 亿美元），<b>现金、现金等价物、受限制现金及不包括爱奇艺的短期投资</b>为人民币 1,596 亿元（243.7 亿美元）。<b>自由现金流</b>为人民币26亿元（4亿美元），<b>不含爱奇艺的自由现金流</b>为人民币 40 亿元（6.15 亿美元）。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BIDU":"百度","09888":"百度集团-SW"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197358072","content_text":"Baidu, Inc. today announced its unaudited financial results for the first quarter ended March 31, 2021.“We are delighted to bring innovation across many sectors, including marketing cloud, enterprise cloud, smart transportation, autonomous driving, smart assistant and AI chip, through our decadelong investment in AI,” said Robin Li, co-founder and CEO of Baidu. “With AI powering the next stage of technology growth, many Baidu alumni have rejoined us, and our employees are energized from working on intelligent computing that can improve daily life and make the complex world simpler.”“Baidu Core delivered a strong first quarter with revenue growing 34% year over year, powered by non-advertising revenue growing 70% year over year,” said Herman Yu, CFO of Baidu. “We will continue to invest heavily in sales, R&D and operations to support the rapid growth of our AIpowered business.”Baidu stock surged 3.6% in aftermarket trading.Other HighlightsCorporateBaidu ranks Top 3 in cloud services and No.1 in the utilization of renewable energy for data centers, according to Greenpeace, a global environmental organization, based on itsApril 2021reportClean Cloud: Tracking Renewable Energy Use inChina'sTech Industry.Baidu released its annual ESG Report inFebruary 2021, which details Baidu's ESG policies and sustainability initiatives (http://esg.baidu.com/en/esg_download.html).OnMarch 23, 2021, Baidu listed on the HKEX (9888) through a global offering of 95,000,000 Class A ordinary shares, receiving$3.1 billionin net proceeds.Baidu returnedUS$300 millionto shareholders under the 2020 Share Repurchase Program this year, bringing the cumulative repurchase to$2.2 billionsince 2020.AI CloudBaidu EasyDL, a simple to use machine learning service, was rated No.1 in terms of usage inChina, per IDC inDecember 2020, topping the list for the second time.Baidu deep learning framework PaddlePaddle, upgraded to v2.0 inMarch 2021, was ranked among the Top 3 globally in terms of usage based on pull request, according to Github.A leading retail bank inChinaimplemented Baidu's AI PaaS, which has led to five follow-on purchases, including application to automate customer service and consumer loan approval, and the recent purchase of private cloud services.Baidu partnered with the online arm ofChina'slargest TV network CCTV to implement Baidu AI PaaS with capabilities to automate video clip creation and tagging from live broadcasting and use smart assistant to quickly locate desired video content. During an important annual event, Baidu enabledCCTV.comto simultaneously interview congressional meeting participants with AI reporters, powered by Baidu Brain, and timely share these interviews on the Internet.Chongqing, which implemented Apollo V2X last year, marking Baidu's entry into westernChina, signed with Apollo to make its smart transportation infrastructure 5G enabled, to support robotaxi ride hailing operation.Chengdu(Sichuan), a leader in science and technology development, signed with Apollo to implement V2X vehicle-to-road infrastructure.Intelligent DrivingApollo has accumulated 6.2 million miles of L4 autonomous driving testing on the road and 600 million miles of simulated testing since its founding in 2013.Apollo received permit to test autonomous driving at night and under special weather conditions on public roads inBeijing. Apollo also received permits to pilot fully autonomous driving inBeijing, Cangzhou (Hebei), andChangsha(Hunan).Apollo Go,China'sfirst fully autonomous ride-hailing, is now available at theShougang Park, a Beijing 2022 Winter Olympics site.Apollo Gobegins to charge for robotaxi ride hailing in Cangzhou, based on the distance traveled starting with a minimum fare, similarly to regular ride hailing.The total addressable market for robotaxi ride hailing will reachUS$224 billioninChinaby 2025, according to China Insights Consultancy, a market research and consulting company.Jidu Auto, an intelligent EV company established in partnership withZhejiang Geely Holding Group, appointedYiping Xiaas its CEO.Mr. Xiapreviously served as CTO at Mobike and held positions atFiat Chryslerand Ford.Guangzhou Automobile Group joins Apollo's network of over 10 leading automakers to install Apollo Self Driving (ASD) services in its new vehicles.Guidehouse Insights (previouslyNavigant Research) has rated Baidu in the \"leader\" category for the second consecutive year, the only Chinese company honored among the four AI companies selected globally for this category. Apollo's open platform, to empower Jidu and other automakers as well asApollo Gorobotaxi, puts Apollo in a unique position to be well funded and widely adopted.DuerOS for Auto, powering infotainment, has been installed in over 1.5 million new vehicles, recorded Q1 2021 installation more than doubled from the prior year.Other Growth InitiativesDuerOS monthly voice queries reached 6.6 billion with first-party voice queries reaching 3.9 billion inMarch 2021.Xiaodu ranked No.1 in smart display shipments globally and No.1 in smart speaker shipments inChinafor 2020, according to IDC, Strategy Analytics and Canalys.Xiaodu S12 smart pad for the education market was introduced in March with an MSRP of 1,699.Baidu Kunlun completed its first round of funding at a post-money valuation of$2 billioninApril 2021. Kunlun chips are designed to optimize AI workload and improve cloud cost structure.Mobile EcosystemBaidu has strengthened its strong Internet foundation with Baidu App monthly active users (MAUs) reaching 558 million and daily logged in users reaching over 75% inMarch 2021.Baidu's AI building blocks are helping creators, service providers and merchants better engage with users and perform user life-time management:BJH publisher accounts grew 40% year over year to reached 4.2 million.Smart Mini Program MAUs reached 416 million, and the number of SMPs grew 74% from a year ago; andRevenue from Managed Page accounted for 35% of Baidu Core's online marketing revenue, up from 21% a year ago.iQIYIiQIYI subscribers reached 105.3 million as ofMarch 31, 2021, serving as a strong foundation to support its over 50 in-house studios and produce entertainment blockbuster originals. iQIYI's net loss narrowed toRMB1.3 billionin Q1 21, compared toRMB 2.9 billionfrom a year ago.First Quarter 2021 ResultsTotal revenueswereRMB 28.1 billion($4.29 billion), increasing 25% year over year.Revenue from Baidu Core was RMB 20.5 billion($3.13 billion), increasing 34% year over year.Online marketing revenue was RMB 16.3 billion($2.48 billion), up 27% year over year.Non-marketing revenue was RMB 4.2 billion($646 million), up 70% year over year, driven by cloud and other services.Revenue from iQIYI was RMB 8.0 billion($1.22 billion), increasing 4% year over year.Cost of revenues was RMB 15.0 billion($2.29 billion), increasing 2% year over year, primarily due to an increase in traffic acquisition costs and cost of goods sold, offset by a decrease in content costs and the amortization/impairment of intangible assets.Selling, general and administrative expenses were RMB 5.2 billion($800 million), increasing 36% year over year, primarily due to an increase in channel spending and promotional expenses.Research and development expensewasRMB 5.1 billion($778 million), increasing 15% year over year, primarily related to personnel-related expenses.Operating income was RMB 2.8 billion($426 million).Baidu Core operating income was RMB 3.8 billion($587 million), and Baidu Core operating margin was 19%.Non-GAAP operating income was RMB 4.4 billion($666 million).Non-GAAP Baidu Core operating income was RMB 5.1 billion($773 million), and non-GAAP Baidu Core operating margin was 25%.Total other income, net was RMB 23.8 billion($3.63 billion), which included a fair value gain ofRMB 23.7 billionfrom long-term investments, mainly including a gain from the investment in Kuaishou Technology.Income tax expense was RMB 1.5 billion($234 million), compared toRMB 198 millionlast year, primarily due to the increase in profit.Net income attributable to Baidu was RMB 25.7 billion($3.92 billion), and diluted earnings per ADS wasRMB 73.76($11.26).Net income attributable to Baidu Core was RMB 26.4 billion($4.02 billion).Non-GAAP net income attributable to Baidu was RMB 4.3 billion($656 million), and non-GAAP diluted earnings per ADS wasRMB 12.38($1.89).Non-GAAP net income attributable to Baidu Core was RMB 4.9 billion($743 million).Adjusted EBITDA was RMB 5.9 billion ($901 million).Adjusted EBITDA for Baidu CorewasRMB 6.5 billion($990 million) and adjusted EBITDA margin for Baidu Core was 32%.As ofMarch 31, 2021,cash, cash equivalents, restricted cash and short-term investments were RMB 172.9 billion($26.40 billion), and cash, cash equivalents, restricted cash and short-term investments excluding iQIYI were RMB 159.6 billion($24.37 billion).Free cash flow was RMB 2.6 billion($400 million), and free cash flow excluding iQIYI was RMB 4.0 billion($615 million).","news_type":1,"symbols_score_info":{"09888":0.9,"BIDU":0.9}},"isVote":1,"tweetType":1,"viewCount":1490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":false}