The stock prices of Chinese companies traded on stock exchanges in the United States rose in the main session on May 17 after Chinese Vice Premier Liu He announced support for the digital economy industry. He said that the government will support the development of digital economy companies and their public lists. China's vice premier gave similar assurances two months ago when he also promised to maintain market stability and stimulate the economy.Against this background, the shares of the Chinese Alibaba Group on Nasdaq rose by 6.37% to $91.99 per share. Baidu securities rose by 4.79% to $123.44 per ...
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| Trader | Date and time created | Forecast closure date | Closing quote | S/L | Comments | Trend accuracy in % | Price accuracy in % | Profitability, pips |
|---|---|---|---|---|---|---|---|---|
| TorForex | 14.09.2021 | 20.10.2021 | 180.00 | 0.00 | 100 | 100.0 | 1000 |
Chinese technology group Baidu Inc and startup developer of self-driving cars Pony.ai we have received consent to launch a driverless robotaxi. Companies were allowed to use no more than 100 cars within 60 square kilometers in the economic and technological development zone of Beijing.ApolloGo, a Baidu service, will be the first commercial robotaxi service on public roads. At the time of launch, the company plans to use 67 vehicles that will appear at more than 600 pick-up and drop-off points in commercial and residential areas of Beijing. It is reported that the fare will correspond to the level of premium taxi services in China.Baidu shares on Nasdaq rose 5.89% to $118.52 per share on April ...
Baidu shares sank amid the actions of Chinese regulators. However, the growth potential of the securities remains: the company insists that the use of AI can reduce the cost of services for ordinary residents of the country. According to the results of the second quarter, revenue increased by 27% YoY. The most striking figures were demonstrated by the AI segment-plus 80%. However, decent figures were also given in an already mature direction – online marketing grew by 18%. At the same time, the EV/S indicator is only 1.6 x. Since Baidu stopped clinging to an inefficient payment service, the values of free cash flow have increased significantly: in the second quarter, FCF amounted to $1.07 billion, and the operating margin was 27%. In the next quarter, management expects revenue near $4.7-5.2 billion (plus 8-19%). The total amount of cash on the balance sheet is $28 billion, while the debt does not exceed $12 billion. While the technology sector is buckling under the pressure of regulators, Baidu's management claims that their services contribute to improving the lives of Chinese people. For example, the Apollo platform reduces the cost of transportation, and thanks to Baidu Health, people get simplified access to healthcare. In the reporting quarter, 47 thousand trips were made via Apollo Go. The goal for the next 2-3 years is to expand the geography to 30 cities. Other areas related to AI are also on the rise: self-driving cars, smart systems, smart transport – these areas generate more than 20% of the total ...
