港股科网股集体拉升，百度股价大涨超8%

Group 1 - Baidu Group-SW (09888.HK) experienced a strong performance in the Hong Kong stock market, closing up 8.90% on December 30, becoming the leading stock in the Hang Seng Tech Index [1] - The Hang Seng Tech Index rose by 1.74%, closing at 5578.38 points, with other tech stocks like Horizon Robotics and SMIC also seeing significant gains [1] - Baidu Maps announced a deep collaboration with the autonomous vehicle company New Stone, integrating LD data products into its logistics platform for high-precision mapping services [1] Group 2 - Baidu's Q3 2025 earnings report showed total revenue of 31.174 billion yuan, a year-on-year decline of 7%, primarily due to a drop in core online marketing revenue to 16.566 billion yuan, down approximately 18% [2] - The company reported a net loss attributable to Baidu of 11.232 billion yuan, mainly due to long-term asset impairment of 16.19 billion yuan, while non-GAAP net profit was 3.77 billion yuan, indicating resilience in core business profitability [2] - Morgan Stanley noted a fundamental shift in Baidu's investment narrative, transitioning from a traditional search advertising company to an AI infrastructure provider, with significant revenue growth expected from Kunlun chip sales and GPU computing demand [2] - The revenue from Kunlun chips is projected to increase from approximately 1.3 billion yuan in 2025 to 8.3 billion yuan in 2026, representing a sixfold increase [2] - Research from Shenwan Hongyuan upgraded Baidu's rating to "Buy," forecasting revenues of 128.5 billion, 133.1 billion, and 141 billion yuan for 2025 to 2027 [2] - Dongwu Securities expressed optimism about AI providing new growth opportunities for Baidu, highlighting the company's focus on shareholder returns through ongoing buybacks and maintaining a "Buy" rating [2]