BIDU: Investments In AI and Autonomous Driving To Fuel Future Growth; Expect Better 2Q23 Performance And 2023 Outlook On Economic Stimulus
We are positive on BIDU’s 2Q23 performance and 2023 outlook. The long-awaited economic stimulus policies have started to come out since late July 2023. Recently, China’s central government issued a series of intensive economic stimulus programs to boost confidence and restore economic growth. The programs not only include stimulating capital market, housing market, but also consumer and retail, and many more. Among these programs, AI and data economy are at the center. While these programs have not shown meaningful results yet, we believe they are going to gradually take effect along with more programs. We are positive on BIDU’s long-term outlook, as the company continues to invest in autonomous driving and AI, which we believe are growth engines for BIDU.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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