Baidu Announces Results of Extraordinary General Meeting

Rhea-AI Summary

Baidu, Inc. held an extraordinary general meeting on December 7, 2021, in Beijing, where key resolutions were approved. The Company will change its name to 'Baidu, Inc. 百度集团股份有限公司' and amend its Memorandum and Articles of Association. These updates aim to reinforce its identity as a leading AI entity. Shareholder approval was granted for the filing of necessary documents in the Cayman Islands and Hong Kong, reflecting Baidu's commitment to organizational transparency and alignment with international standards.

Positive

• Change of company name to 'Baidu, Inc. 百度集团股份有限公司' emphasizes dual branding and global outreach.
• Amendment of the Memorandum and Articles of Association may enhance operational efficiency.

Negative

• None.

BEIJING, Dec. 7, 2021 /PRNewswire/ -- Baidu, Inc. ("Baidu" or the "Company"), a leading AI company with strong Internet foundation, today announced that each of the following proposed resolutions submitted for shareholder approval has been duly adopted at its extraordinary general meeting of shareholders held in Beijing today:

1. as a special resolution, THAT the name of the Company be changed from "Baidu, Inc." to "Baidu, Inc. 百度集團股份有限公司" by adopting the dual foreign name "百度集團股份有限公司";
2. as a special resolution, THAT the Company's Third Amended and Restated Memorandum of Association and Articles of Association (the "Current M&AA") be amended and restated by their deletion in their entirety and by the substitution in their place of the Fourth Amended and Restated Memorandum of Association and Articles of Association (the "Amended M&AA"); and
3. THAT the registered office provider of the Company be and is hereby authorized to file any and all documents in relation of adoption of the Company's dual foreign name and the adoption of the Amended M&AA with the Registrar of Companies in the Cayman Islands; and the Hong Kong registered office provider of the Company be and is hereby authorized to file any and all documents in relation of the adoption of the Amended M&AA with the Registrar of Companies in Hong Kong accordingly.

About Baidu

Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on the NASDAQ under "BIDU" and HKEX under "9888." One Baidu ADS represents eight Class A ordinary shares.

Contacts

Investors Relations, Baidu, Inc.
Tel: +86-10-5992-8888
Email: ir@baidu.com

View original content:https://www.prnewswire.com/news-releases/baidu-announces-results-of-extraordinary-general-meeting-301438670.html

SOURCE Baidu, Inc.

FAQ

What name change did Baidu announce on December 7, 2021?

Baidu announced that it will change its name to 'Baidu, Inc. 百度集团股份有限公司'.

What resolutions were approved at Baidu's extraordinary general meeting?

The resolutions included a name change and amendments to the Memorandum and Articles of Association.

What is the stock symbol for Baidu on NASDAQ?

Baidu's stock symbol on NASDAQ is 'BIDU'.

Why did Baidu amend its Memorandum and Articles of Association?

Baidu amended its Memorandum and Articles of Association to potentially enhance operational efficiency.