China Reopening and Baidu Apollo’s Feedback Driven Innovation

Winter 2023 China Internet Earnings Report

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After nearly three years of severe COVID restrictions, China is open for business again. This past November, we saw stunning progress when China’s government “pulled the band-aid” and lifted nearly all internal COVID restrictions. We believe this is providing a material, sustained catalyst for all companies in the internet sector, which we touch upon throughout this edition of the China Internet Report.

Theme Highlight: Baidu Apollo’s Feedback Driven Innovation

Although Baidu is most well-known for its search engine, the company has been making notable progress in the field of autonomous driving. Baidu’s Apollo Go project, a robotaxi business with strong partnerships and testing, has developed fully autonomous cars that may render traditional taxis obsolete.1

In this winter’s China Internet Report, we look at “Baidu Apollo’s Feedback Driven Innovation,” and why we believe there could be positive catalysts for the company’s future. We also provide recent sector highlights and an overview of top companies’ earnings results.

China Internet Highlights:

  • The end of the Zero COVID policy in China
  • The Public Company Accounting Oversight Board (PCAOB) gained complete access to inspect and investigate auditors in Hong Kong and Mainland China
  • Travel surge and resumption of consumer confidence

China Internet Sector Earnings Report Contents:

  • China Internet Recent Highlights
  • Subsector Analysis
  • Theme Highlight: Baidu Apollo’s Feedback Driven Innovation
  • KWEB Top 10 Holdings Earnings Update

This is a marketing communication. Please refer to the prospectus of the UCITS and to the KIID before making any final investment decision.

  1. Johnson, Peter. “Baidu’s (BIDU) Apollo Go Service Strikes 1 Million EV Autonomous Ride Milestone in China,” Electrek. August 30, 2022.