Ge Long Hui A P P·2025-09-30 15:36Core Insights - Baidu is enhancing its business capabilities through self-developed AI models, particularly the Wenxin X1.1 model, which shows significant improvements in factual accuracy (34.8%), instruction adherence (12.5%), and intelligence (9.6%), aligning its performance with GPT-5 and Gemini 2.5 Pro [1] Group 1: Business Performance - Baidu secured the largest share in China's mobile AI procurement project, with an order amounting to 1 billion RMB, demonstrating the technological strength and market competitiveness of Kunlun Chip [1] - The success in the procurement project lays a foundation for expanding application scenarios and initiating new growth trajectories [1] Group 2: Financial Forecasts - The company has revised its revenue forecasts for 2025 to 2027 to 130.7 billion, 138.5 billion, and 149.2 billion RMB, respectively [1] - Adjusted net profit forecasts for the same period are set at 17.6 billion, 20.2 billion, and 29.8 billion RMB [1] - Based on the SOTP valuation method, the target price for Baidu has been adjusted to 176 HKD, maintaining a "Buy" rating [1] Group 3: International Expansion - The company is accelerating its overseas business expansion through the "Carrot Fast Run" initiative [1]