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<Research>UOB Kay Hian: BIDU-SW (09888.HK) 4Q25 Results Beat; Rating Kept at Buy
Recommend 6 Positive 11 Negative 7 |
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BIDU-SW (09888.HK)'s 4Q25 results beat UOB Kay Hian's expectations, with revenue declining by 4% YoY to RMB32.7 billion, in line with both the forecasts of the broker/ market, UOB Kay Hian issued a research report saying. Gross profit margin fell by 3 ppts YoY to 44.2%, while non-GAAP net profit decreased by 42% YoY to RMB3.9 billion, both beating market consensus. The visibility of monetization for BIDU-SW's AI cloud business is improving, with its AI application portfolio being the most comprehensive in the industry, UOB Kay Hian added. Therefore, the broker kept rating at Buy, and dropped its target prices for BIDU-SW's H-shares/ US stock to $175/ US$194, corresponding to a projected 2026 PE ratio of approx. 22.6x. AASTOCKS Financial News |
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