Baidu, Inc. Files Its Annual Report on Form 20-F

Rhea-AI Summary

Baidu (NASDAQ: BIDU; HKEX: 9888/89888) filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the SEC on March 17, 2026. The Form 20-F and the Hong Kong Annual Report are available on Baidu's investor relations website and HKEx.

The company said it will provide a free hard copy of the audited consolidated financial statements to shareholders and ADS holders upon request, with instructions to contact its IR Department in Beijing.

AI-generated analysis. Not financial advice.

News Market Reaction – BIDU

-0.91%

3 alerts

-0.91% News Effect

-$397M Valuation Impact

$43.20B Market Cap

0.3x Rel. Volume

On the day this news was published, BIDU declined 0.91%, reflecting a mild negative market reaction. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $397M from the company's valuation, bringing the market cap to $43.20B at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Fiscal year end: December 31, 2025 NASDAQ ticker: BIDU HKEX counter (HKD): 9888 +3 more

6 metrics

Fiscal year end December 31, 2025 Period covered by Form 20-F and Hong Kong Annual Report

NASDAQ ticker BIDU Primary U.S. listing mentioned in filing notice

HKEX counter (HKD) 9888 Hong Kong dollar trading counter on HKEX

HKEX counter (RMB) 89888 Renminbi trading counter on HKEX

Campus street number No. 10 Street number in Baidu Campus address

Postal code 100085 Postal code for Baidu Campus address in Beijing

Market Reality Check

Price: $134.83 Vol: Volume 2,747,609 is 14% a...

normal vol

$134.83 Last Close

Volume Volume 2,747,609 is 14% above 20-day average 2,409,715. normal

Technical Price 121.8 is trading above 200-day MA at 115.92, mid-range between 52-week high 165.3 and low 74.71.

Peers on Argus

BIDU was down 1.83% while momentum peers NBIS and TME were also down (median mov...

2 Down

BIDU was down 1.83% while momentum peers NBIS and TME were also down (median move about -11.2%), indicating a broader Communication Services/Internet pullback rather than BIDU-specific pressure.

Common Catalyst Peer news includes a large convertible note offering and earnings, alongside AI collaboration headlines, pointing to mixed company-specific catalysts within a broader sector move.

Historical Context

5 past events · Latest: Mar 11 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 11	AI product launch	Positive	-0.3%	Launch of DuClaw zero-deployment access to OpenClaw via Baidu AI Cloud.
Feb 26	Earnings release	Neutral	-5.7%	Q4 and FY 2025 results with strong AI growth but full-year impairment.
Feb 10	Autonomous partnership	Positive	+0.5%	Apollo Go autonomous ride-hailing partnership with Uber in Dubai.
Feb 04	Buyback & dividend	Positive	+0.7%	Announcement of US$5B repurchase program and initiation of dividend policy.
Jan 22	Earnings date set	Neutral	+0.1%	Notice of Q4 and FY 2025 results date and earnings call details.

Pattern Detected

Recent positive strategic and capital return announcements often saw muted or negative next-day moves, indicating occasional divergence between news tone and price reaction.

Recent Company History

Over the last few months, Baidu has focused on AI expansion, capital returns, and investor communications. On Feb 4, 2026, it announced a new US$5 billion repurchase program and a dividend policy, followed by Q4/FY 2025 results on Feb 26 highlighting strong AI growth but a full-year impairment-driven loss. Earlier, it scheduled the earnings date on Jan 22 and partnered with Uber on Apollo Go in Dubai on Feb 10. The latest DuClaw launch on Mar 11 continued its AI product push. Today’s Form 20-F filing formalizes the FY 2025 disclosure already telegraphed in prior releases.

Market Pulse Summary

This announcement formalizes Baidu’s FY 2025 disclosure through its Form 20-F and a corresponding Ho...

Analysis

This announcement formalizes Baidu’s FY 2025 disclosure through its Form 20-F and a corresponding Hong Kong Annual Report, consolidating audited financials and risk information for both U.S. and HKEX investors. It follows earlier earnings and capital return updates, so it mainly serves as a compliance and transparency milestone. Investors may focus on details within the filed documents, along with prior AI growth and capital allocation moves, for ongoing assessment.

Key Terms

form 20-f, securities and exchange commission, hkex, ads

4 terms

form 20-f regulatory

"announced it filed its annual report on Form 20-F for the fiscal year"

Form 20-F is the standardized annual disclosure that non-U.S. companies must file with the U.S. securities regulator when their shares are traded in the U.S.; it contains audited financial statements, a plain-language description of the business, management discussion, governance details and key risk factors. It matters to investors because it provides a consistent, comparable company “report card” and rulebook, helping buyers assess financial health, governance and risks before investing.

securities and exchange commission regulatory

"for the fiscal year ended December 31, 2025 with the Securities and Exchange Commission"

A national government agency that enforces rules for buying, selling and disclosing information about stocks and other investments, acting like a referee and scorekeeper for financial markets. It requires companies to share clear, regular financial and business information and investigates fraud or rule-breaking, which matters to investors because those rules and disclosures help ensure fair prices, reduce hidden risks and make it easier to compare investment choices.

hkex regulatory

"Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "HKEx")"

HKEX is the operator of Hong Kong’s main financial marketplaces, running the stock exchange, derivatives trading and the clearing systems that settle trades. Think of it as the marketplace and referee that decides which companies can list, how trades are processed, and the rules that keep trading orderly; its policies and listings shape investor access, liquidity and price discovery for many Asian and international investments.

ads financial

"to its shareholders and ADS holders upon request."

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

AI-generated analysis. Not financial advice.

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BEIJING, March 17, 2026 /PRNewswire/ -- Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)) ("Baidu" or the "Company"), a leading AI company with strong Internet foundation, today announced it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025 with the Securities and Exchange Commission on March 17, 2026 (the "Form 20-F"). The Form 20-F can be accessed on the Company's investor relations website at http://ir.baidu.com.

The Company will provide a hard copy of the Form 20-F containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests should be directed to IR Department, Baidu, Inc., Baidu Campus, No. 10 Shangdi 10th Street, Haidian District, Beijing 100085, People's Republic of China.

The Company also published an annual report for the year ended December 31, 2025 (the "Hong Kong Annual Report") today pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "HKEx"). The Hong Kong Annual Report contains substantially the same information as set forth in the Form 20-F and can be accessed on the Company's investor relations website at http://ir.baidu.com as well as the HKEx's website at http://www.hkexnews.hk.

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 NASDAQ under "BIDU" and HKEX under "9888". One Baidu ADS represents eight Class A ordinary shares.

 

View original content:https://www.prnewswire.com/news-releases/baidu-inc-files-its-annual-report-on-form-20-f-302716063.html

SOURCE Baidu, Inc.

FAQ

When did Baidu (BIDU) file its Form 20-F for fiscal year 2025?

Baidu filed its Form 20-F for the year ended December 31, 2025 on March 17, 2026. According to the company, the filing is available on its investor relations website and includes audited consolidated financial statements.

How can BIDU shareholders obtain a hard copy of the 2025 Form 20-F?

Shareholders and ADS holders can request a free hard copy of the Form 20-F by contacting Baidu's IR Department. According to the company, requests should be sent to the IR Department at its Beijing address provided by the company.

Is Baidu's Hong Kong Annual Report for 2025 the same as the Form 20-F?

Yes. According to the company, the Hong Kong Annual Report contains substantially the same information as the Form 20-F. Both reports are available on Baidu's investor relations website and the HKEx website.

Where can investors access Baidu's 2025 annual reports online for BIDU?

Investors can access the 2025 Form 20-F and Hong Kong Annual Report on Baidu's investor relations website and the HKEx website. According to the company, both documents were published and posted on March 17, 2026.

Which exchange symbols should investors use to find Baidu (BIDU) filings?

Use NASDAQ: BIDU and HKEX: 9888 (HKD) or 89888 (RMB) to locate filings and disclosures. According to the company, the Form 20-F and Hong Kong Annual Report are posted under those listings on IR and HKEx sites.