Feng Huang Wang·2026-02-26 09:56Financial Performance - Baidu's total revenue for the year 2025 was 129.1 billion RMB, a decrease of 3% year-on-year, primarily due to a decline in traditional business revenue [1] - The company recorded an operating loss of 5.8 billion RMB, impacted by a core asset impairment loss of 16.2 billion RMB [1] - Excluding impairment and other factors, Baidu's non-GAAP net profit for the year reached 18.9 billion RMB [1] - In Q4, Baidu's total revenue was 32.7 billion RMB, reflecting a quarter-on-quarter growth of 5% [1] - The non-GAAP net profit for Q4 was 3.9 billion RMB [1] Business Segments - New business revenue accounted for over 11 billion RMB in Q4, representing 43% of Baidu's general business revenue [1] - The intelligent cloud infrastructure revenue for the year was approximately 20 billion RMB, showing a year-on-year growth of 34% [1] - AI application revenue exceeded 10 billion RMB for the year [1] - In the autonomous driving sector, the "Luobo Kuaipao" service provided 3.4 million fully unmanned operational orders in Q4, a year-on-year increase of over 200% [1] - The service has initiated testing and deployment in multiple overseas markets, including the UK, Switzerland, the Middle East, South Korea, and Hong Kong [1] - As of December 2025, Baidu APP had 679 million monthly active users, remaining stable year-on-year, while the monthly active users of Wenxin Assistant reached 202 million [1] Capital Operations and Shareholder Returns - Baidu's board has authorized a new share repurchase plan with a maximum amount of 5 billion USD, effective until December 31, 2028 [2] - The company has approved a dividend policy for ordinary shares, with the first dividend expected to be distributed by the end of 2026 [2] - Baidu is advancing the spin-off and independent listing process for its chip business, Kunlun Chip [2]