Motivated by AI momentum, BIDU-SW (09888.HK) +1.700 (+1.344%) Short selling $263.28M; Ratio 24.338% delivered better-than-expected results for 1Q26, Haitong International said in its report. Total revenue dipped 1% YoY and 2% QoQ to RMB32.1 billion, 2% above market expectations. Adjusted net profit whopped RMB4.3 billion (margin 14%), 5% above market forecasts. Baidu Core revenue grew 2% YoY, 4% above consensus. Baidu Core adjusted net profit was RMB4.4 billion (margin 17%), topping market estimates by 16%.Haitong International maintained its Outperform rating on Baidu, Inc. (BIDU.US) and raised its US stock TP from USD188 to USD201, as it increased the PE valuation of the cloud from 15x to 30x to reflect rapid growth. The broker expected that, as the spin-off and listing of Kunlunxin (KLX) moves along well, a series of value-unlocking initiatives will follow, including share buybacks, dividends, dual primary listing and a Robotaxi spin-off. (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-22 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)Related News Daiwa Cuts BIDU-SW (09888.HK) TP to HKD170; Strong AI Cloud and GPU Cloud Performance
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