Top 5 Chinese Companies on US Exchanges

4. Baidu, Inc. (NASDAQ:BIDU)

Market Capitalization: $41.264B

Insider Monkey’s database of hedge funds shows that 36 hedge funds had stakes in Chinese internet giant Baidu, Inc. (NASDAQ:BIDU). The biggest stakeholder of Baidu, Inc. (NASDAQ:BIDU) was John W. Rogers’s Ariel Investments which owns a $377 million stake in the company. Ariel Global Fund made the following comment about Baidu, Inc. (NASDAQ:BIDU) in its Q2 2023 investor letter:

“By comparison, after a strong run last quarter, China’s internet search and online community leader, Baidu, Inc. (NASDAQ:BIDU) declined alongside a correction in Chinese stocks attributed to weak gross domestic product. We believe this price action runs counter to the company’s solid business fundamentals. Baidu delivered a top- and bottom-line earnings beat in the period, driven by a recovery in ad and cloud revenues. The company continues to invest heavily in Artificial Intelligence (AI) and is launching a generative AI, Ernie Bot, aimed at rivaling Open AI’s ChatGPT. While monetization of the new technology is largely dependent on regulatory review, we think Baidu should continue to experience margin improvement with the ongoing implementation of efficiency and profitability initiatives. While some investors remain on the sidelines due to uncertainty surrounding China’s economic growth, government regulations, and the political rhetoric towards Taiwan, we remain enthusiastic about Baidu’s longer-term opportunity for revenue growth and margin expansion across internet search, cloud, autonomous driving, artificial intelligence and online video.”