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U.S. COMPANY FILING

Baidu, Inc. — Form 20-F filed 2026-03-17

Filed: 2026-03-17Company: Baidu, Inc.Ticker: BIDUExchange: NasdaqForm: 20-FReport period: 2025-12-31SEC accession: 0001193125-26-109289Event: otherMateriality: 0

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Baidu filed its FY2025 Form 20-F, disclosing annual results and key events. The company completed the acquisition of YY Live in February 2025 for approximately $2.1 billion. It recorded long-lived asset impairment of RMB16.2 billion ($2.3 billion) in 2025. As of Dec 31, 2025, total assets were RMB449.2 billion, cash and equivalents RMB24.6 billion, and total debt RMB89.5 billion. VIE entities contributed 50% of external revenues.

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