香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示概不會就本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責任。 根據不同投票權架構，我們的股本包括A類普通股及B類普通股。對於提呈本公司股東大會投票的所有事宜，A類 普通股持有人每股可投1票，而B類普通股持有人則每股可投10票。股東及有意投資者務請留意投資不同投票權架 構公司的潛在風險。我們的美國存託股（每股美國存託股代表八股A類普通股）於美國納斯達克上市，股份代碼為 BIDU。 我們將就完成票據發行向美國證券交易委員會（「美國證監會」）提供6-K表格。 Baidu, Inc. 百度集團股份有限公司 （於開曼群島註冊成立以不同投票權控制的有限責任公司） （股份代號：9888（港元櫃台）及89888（人民幣櫃台）） 完成發行人民幣 4 4 億元以人民幣計值的優先票據 百度集團股份有限公司（「本公司」或「百度」）今日宣佈完成其發行本金總額為人民幣44 億元的於2029年到期的1.90%優先無擔保票據（「該等票據」）。該等票據乃根據《1933年美 國證券法》（經修訂）（「《 ...

Core Viewpoint - The article discusses how Baidu Wenku (Baidu Library) has transformed from a resource download platform into an AI-driven productivity platform, leveraging AI technology to enhance user experience and business value [1][2]. Group 1: AI Transformation of Baidu Wenku - Baidu Wenku has redefined its product positioning from a tool to a platform, enabling users to create, interact, and output content, thus becoming a "solution generator" for workplace and educational scenarios [1][2]. - The platform has deeply explored and responded to user needs by shifting focus from document retrieval to content creation, lowering the barriers from inspiration to finished product [2][6]. - Baidu has activated synergies between multiple existing businesses through technology integration, exemplified by the GenFlow 2.0 upgrade that connects Wenku with Baidu Cloud, enhancing user experience and redefining product boundaries [2][6]. Group 2: Development Journey of AI Features - The development of the intelligent PPT editor marked a significant victory for Baidu Wenku, achieved with a small team that focused on high-frequency user needs while integrating cloud capabilities with end-user functionalities [8][10]. - The team successfully created a product that allows users to upload their documents and generate PPTs, establishing a competitive edge in the smart PPT market [10][12]. - Following the success of the PPT editor, the team aimed to tackle long-form content generation, overcoming limitations in model capacity and achieving breakthroughs in context understanding [16][18]. Group 3: GenFlow and User Experience - GenFlow allows multiple AI experts to work in parallel, enhancing user experience by providing a team-like support system for task completion [23][28]. - The product emphasizes user control, enabling users to interrupt AI processes and provide real-time feedback, thus improving the collaborative experience [28][30]. - GenFlow's design incorporates both dialogue and graphical user interface elements, making it more accessible to a broader audience while maintaining advanced capabilities [26][30]. Group 4: Strategic Vision and Market Positioning - Baidu Wenku's strategy focuses on addressing specific user needs within vertical markets, leading to higher adoption rates compared to competitors [36][37]. - The integration of AI has transformed Baidu Wenku and Baidu Cloud from mere data storage solutions into intelligent platforms capable of content generation and management [39][49]. - The company aims to elevate its products from basic functionalities to comprehensive solutions that enhance user engagement and satisfaction [40][48].

Core Viewpoint - Baidu, Inc. has successfully completed an offering of CNY 4.4 billion in senior unsecured notes with a 1.90% interest rate, maturing in 2029, aimed at enhancing its financial flexibility and supporting general corporate purposes [1][2]. Group 1 - The offering of the notes was conducted outside the United States, targeting non-U.S. persons, in compliance with Regulation S under the U.S. Securities Act of 1933 [1][3]. - The net proceeds from the notes will be utilized for general corporate purposes, including the repayment of existing debt and interest payments [2]. - The notes are expected to be listed on The Stock Exchange of Hong Kong Limited, with trading commencing on September 16, 2025 [4]. Group 2 - Baidu, founded in 2000, is recognized as a leading AI company with a robust internet foundation, trading on Nasdaq and the Hong Kong Stock Exchange [5]. - One American Depositary Share (ADS) of Baidu represents eight Class A ordinary shares [5].

这次，多年来国产AI与英伟达深度绑定的故事，可能真的要被改写了。 这两天外媒一条阿里与百度已经在人工智能模型训练中引入自研芯片，以部分替代英伟达的产品的消息，平地起惊雷，让资本市场对国产算力抱团加速的 预期再度升温。 据了解，阿里自年初以来已将自研芯片应用于轻量级模型训练，性能已可与英伟达H20相媲美；百度则在尝试用昆仑芯P800训练新版文心大模型。消息刺 激下，百度股价大涨逾10%创下2024年10月以来新高，阿里涨超6%，腾讯、网易、京东等中概股亦跟涨。 中国市场或将迎来算力的集体狂欢。 而另一边，英伟达交出的Q2财报中，营收467亿美元，同比增长56%，但因为对中国市场给出零销售的口径及数据中心略低于预期，之后几个交易日市值 单日蒸发约1300亿美元，舆论口径转向"高处不胜寒"。 从寒武纪一度超越贵州茅台，到阿里、百度加快自研芯片落地，叠加政策层面"人工智能+"行动意见的持续释放，国产算力的"朋友圈"正在加速壮大。英 伟达的"失落"，不仅是单一企业的挑战，更是整个产业格局重塑的开端。 01 营收高增长，股价大跳水 在最新发布的2026财年Q2财报中，英伟达整体营收同比增长55%，继续保持全球AI浪潮中的 ...

Core Insights - The article highlights the top short-selling stocks in the market, indicating significant investor sentiment and potential market movements [1][2][3] Short Selling Ratios - The top three stocks with the highest short-selling ratios are New World Development-R (80016) and Li Ning-R (82331) at 100.00%, followed by AIA Group-R (81299) at 92.90% [1][2] - Other notable stocks include BYD Company-R (81211) at 91.45% and China National Offshore Oil Corporation-R (80883) at 71.40% [2] Short Selling Amounts - Alibaba-SW (09988) leads in short-selling amount with 5.602 billion, followed by Tencent Holdings (00700) at 2.725 billion and Baidu Group-SW (09888) at 2.062 billion [3] - Other significant amounts include Meituan-W (03690) at 1.088 billion and Pop Mart International (09992) at 879 million [3] Deviation Values - Li Ning-R (82331) has the highest deviation value at 35.57%, followed by AIA Group-R (81299) at 28.24% and China National Offshore Oil Corporation-R (80883) at 27.47% [1][3] - Other notable deviation values include BYD Company-R (81211) at 25.22% and New World Development-R (80016) at 24.06% [3]

Core Insights - The "Red Fortune Night 2025 Brand Red List Award Ceremony" organized by Baidu's Aiqicha attracted 520,000 participants for interactive voting, with over 1.17 million total votes cast, resulting in the establishment of the 2025 Brand Red List covering five major consumer categories [1][2] - The event highlighted the increasing importance of corporate credibility and brand reputation as a link between commercial value and consumer trust, with Aiqicha facilitating this connection through professional data and public voting [1][2] - Aiqicha has served over 500 million users since its inception, positioning itself as a crucial information bridge between consumers, businesses, and the market [3] Summary by Sections Event Overview - The "Red Fortune Night" featured 300+ brands and recognized 44 brands across five specific lists, showcasing the event's broad engagement and impact on consumer awareness [1] - Eight brands received the "Pioneer Favorite Brand" award for their achievements in technology, product upgrades, and market expansion, emphasizing innovation and market leadership [1] Consumer Insights - The event underscored the shift in consumer expectations towards "reliable quality and transparent information," making these attributes essential rather than optional [2] - Aiqicha's dual approach of providing a "list guidance + tool query" effectively reduces information asymmetry between brands and consumers, lowering decision-making costs for consumers [2] Brand Perspective - The recognition as a "Favorite Brand" not only reflects the long-term efforts of brands but also encourages a market environment where integrity and quality drive brand success [2] - Aiqicha's capabilities in business data and platform value were showcased, reinforcing its role in building trust between brands and consumers while promoting industry standards [2][3]

Core Viewpoint - Baidu Academic is transforming into a comprehensive "Research platform" that covers the entire lifecycle of academic papers, from searching and reading to creating and editing, aiming to become the first one-stop AI academic platform in the industry [1][2][29]. Group 1: Features of the New Platform - The platform will include AI academic search, AI literature summarization, AI reading, and paper mapping, enhancing the efficiency of literature collection and research [1][3][7]. - Users can input keywords to find relevant literature, and utilize AI Q&A for summarization, significantly reducing time spent switching between different PDFs [9][10]. - The literature mapping feature allows users to visualize classic literature, research hotspots, and development trajectories in their field within minutes [10][12]. Group 2: Reading and Writing Support - The literature summarization function supports batch uploading of up to 100 files, generating structured summaries in 30 seconds, enabling researchers to grasp core content quickly [13][14]. - The AI reading feature can accurately restore the layout of foreign language literature and provide automatic translations for a smoother reading experience [15][16]. - The writing phase includes a topic recommendation function that suggests valuable innovative research directions based on existing literature [16][19]. Group 3: Academic Resource Integration - Baidu Academic has partnered with professional data analysis platforms like SPSSPRO, allowing for a seamless process from data acquisition to analysis and result presentation [22][23]. - As of now, Baidu Academic has indexed 690 million literature resources, leading globally, with a daily update of over 420,000 documents and a Chinese literature coverage rate of 97% [31][34]. - The platform aims to lower research barriers and enhance academic content dissemination by covering all professional fields classified by the Ministry of Education [33][34]. Group 4: Academic Community Engagement - Baidu Academic has created profiles for 4.2 million scholars, including renowned academicians, facilitating information exchange within the academic community [36][38]. - The vision of upgrading the "academic foundation" to a "global academic ecosystem engine" is becoming increasingly feasible as the academic ecosystem continues to improve [38][40].

Core Insights - The WAVE Summit 2025 marks a significant advancement in China's science popularization efforts, focusing on deep learning and innovative science communication [1] - The launch of the "Science Museum Intelligent Matrix" and the "Future Wings Science Popularization Co-Creation Plan" signifies a shift towards intelligent and collaborative science services in China [1] Group 1: Science Museum Intelligent Matrix - The "Science Museum Intelligent Matrix" is a collaborative initiative between the China Science and Technology Museum and Baidu, integrating resources from 27 provincial science museums to create an AI-driven science service platform [4] - The matrix features multi-modal interactions, including image recognition, voice Q&A, and AI-generated travel logs, enhancing visitor engagement and transforming science communication from one-way to interactive [4] - The platform aims to make science resources more accessible and collaborative, involving 28 science museums, four enterprises, and 340 independent developers [4] Group 2: Future Wings Science Popularization Co-Creation Plan - The "Future Wings Science Popularization Co-Creation Plan" focuses on open and inclusive science ecosystems, leveraging Baidu's Wenxin large model to provide youth with easier access to knowledge [5] - The plan encourages science venues to open data resources and application scenarios, supporting developers with AI tools and technical assistance to foster innovative science communication [5] - Recent collaborations have resulted in various AI-driven projects, including the "AI Travel Log" and "Science Open Door," with 283 science intelligent entities developed across multiple fields [5] Group 3: Technological Innovation and Accessibility - The initiatives demonstrate the feasibility of technology-driven inclusivity and the potential for innovative science communication, moving from knowledge transmission to cognitive inspiration [6] - The integration of AI is driving the evolution of science services towards more intelligent, open, and creative approaches [6]

Core Viewpoint - The article emphasizes a transformative shift in academic research facilitated by AI, moving from traditional methods to an integrated, AI-driven approach that significantly enhances efficiency and user experience [2][26]. Group 1: AI-Driven Research Transformation - The introduction of AI in academic research allows for rapid processing of large volumes of literature, reducing the time needed to synthesize information from weeks to mere seconds [3][4]. - The new AI capabilities enable users to interactively engage with research papers, asking specific questions about content, which transforms the reading experience into a dynamic dialogue [6][14]. - The integration of various research functions into a single platform eliminates the need for multiple software tools, creating a seamless workflow for researchers [9][19]. Group 2: Features of the New Platform - The upgraded platform offers a "knowledge map" feature that visually represents the connections between research topics, classic literature, and emerging trends [7][10]. - AI assists in generating research outlines and provides suggestions for innovative research directions, streamlining the initial stages of academic writing [15][16]. - The platform includes built-in editing tools that automate formatting and citation processes, allowing researchers to focus on content creation rather than technical details [16][17]. Group 3: Strategic Vision and Market Position - The article outlines a broader strategic vision for the platform, positioning it as a "super app" for knowledge services, with a foundation built on extensive and high-quality data resources [20][21]. - The platform aims to create an academic identity system, enhancing the visibility and credibility of researchers, akin to an academic credit system [21][22]. - By leveraging its vast user base and data resources, the platform seeks to become a central hub for academic content distribution and collaboration [22][24]. Group 4: Future Implications - The AI upgrade signifies the beginning of a new era in academic research, where scholars can focus on innovative thinking and experimentation rather than data management [26][24]. - The platform's evolution reflects a shift towards a more integrated and efficient academic ecosystem, potentially reshaping how research is conducted and disseminated globally [26][24].

Core Insights - The collaboration between Baidu Smart Cloud and Dou Shen Education has led to the launch of an innovative educational hardware product, the Learning Companion Robot, which aims to provide personalized learning solutions for families through advanced AI capabilities [2][3] - The product signifies a shift in educational models from a "teacher-student" dynamic to a "human-machine-student" intelligent ecosystem [2] AI Capabilities - The Learning Companion Robot integrates three core AI technologies: Baidu's Wenxin 4.5 model, the Image Generation model, and the Object Recognition model, enabling human-like interaction and personalized tutoring [2] - The robot can analyze homework problems in a layered manner and engage students through gamified tasks, enhancing their learning experience [2] Visual Interaction - The breakthrough in visual interaction allows the robot to convert abstract concepts into concrete images, significantly improving knowledge absorption efficiency by over 40%, particularly benefiting younger children [2][3] Knowledge Expansion - The Object Recognition feature acts as a mobile "encyclopedia," achieving a recognition accuracy of 98.7% across 12 subject areas, creating a complete learning loop from observation to inquiry and explanation [3] Technical Innovations - The Baidu Baichuan AI computing platform enhances model training efficiency by 65% while reducing energy costs by 32%, ensuring smooth operation of complex AI functions on consumer-grade hardware [3] - The platform's distributed inference architecture supports high concurrency, maintaining millisecond-level response times for multiple users [3] Educational Ecosystem - Baidu Smart Cloud's "three-tiered progressive" educational solution is reshaping the industry ecosystem, providing optimized computing services, low-code development support, and comprehensive applications across teaching, assessment, and marketing [3] Emotional and Lifestyle Integration - The Learning Companion Robot transitions from a "tool" to a "growth partner," incorporating emotional computing to recognize user emotions and provide encouragement during learning challenges [4] - It also features a lifestyle management function, integrating services like schedule management and health reminders, thus redefining the emotional value of smart devices [5] Future Potential - Continuous upgrades to the Qianfan Model Builder platform will expand the robot's capabilities, including automatic generation of subject mind maps and video understanding for experimental operations [5] - The collaboration marks a deep integration phase in AI education, creating a scalable, customizable, and perceptible intelligent education ecosystem [5]