Baidu returns to Hong Kong listing: Robin Li holds 17 first day opening

Baidu's second listing in Hong Kong today (March 23) opened at HK $254 per share on the first day of listing, up 0.79 from the issue price of HK $252. Based on this calculation, the current market value of Baidu is HK $718.526 billion.

On March 9, baidu officially passed the Hong Kong Stock Exchange hearing.

Baidu returns to Hong Kong listing: Robin Li holds 17 first day opening

According to the prospectus, Baidu’s revenue is 102.3 billion yuan in 2018, 107.4 billion yuan in 2019 and 107.1 billion yuan in 2020. In 2020, Baidu’s net profit will be 22.5 billion yuan. Baidu app will live for 544 million in 2020.

The prospectus also released the data of YY live broadcasting, in which the net income, gross profit and net profit of YY live broadcasting accounted for 9.3, 8.9 and 16.5% of Baidu’s total net income, gross profit and net profit respectively. As of December 31, 2020, the total assets of YY live broadcast accounted for 0.2% of the total assets.

In terms of shareholding, Robin Li held 457491280 shares, accounting for 17 of the total shares and 57 of the voting rights.

Baidu said that it plans to use the net proceeds from the global sales for: continuous investment in science and technology, promotion of innovation and commercialization based on artificial intelligence, further development of Baidu’s mobile ecology, and further realization of diversified cash flow and general corporate purposes.