7 Most Profitable Chinese Stocks To Invest In

3. Baidu (NASDAQ:BIDU)  

TTM Net Income: $2.70 Billion  

5-Year Net Income CAGR: 4.07%  

Number of Hedge Fund Holders: 42

Baidu (NASDAQ:BIDU) is a diversified technology company that operates the largest internet search engine in China. The company is undergoing a significant transformation, shifting its focus from an internet to an AI business, with a strong emphasis on autonomous driving technology.

Baidu’s (NASDAQ:BIDU) management is confident that AI will be a key driver of revenue growth in the future. The company’s AI cloud services are experiencing rapid growth, and its development of autonomous vehicles through the Apollo project has garnered significant attention. According to Fortune Business Insights, the autonomous driving market is forecasted to grow, with a CAGR of 32% over the next six years, reaching nearly $39 billion by 2030. Baidu’s (NASDAQ:BIDU) Apollo Go ride-hailing service positions the company to capitalize on this growing market.

By the end of 2024, Baidu (NASDAQ:BIDU) plans to deploy 1,000 RT6 robotaxis in Wuhan. The company’s latest RT6 model, at $27,500 is half the cost of its previous vehicles. A ride in Apollo Go Robotaxi also costs half compared to traditional ride-hailing services. The Apollo Go platform has the potential to revolutionize the autonomous ride-hailing industry and positions Baidu (NASDAQ:BIDU) to capitalize on the growing demand for autonomous driving technology.

Baidu’s (NASDAQ:BIDU) financial performance has been impressive, with a net income of $2.70 billion for the twelve months ending June 30, representing a significant 24.44% increase from the same period last year and compound annual growth rate (CAGR) of 4.07% in the last 5 years, indicates a steady and consistent track record of growth.