On June 25, Baidu Group-SW fell 3.27% in regular trading, trading at 103.5 HKD/share, with turnover of HKD 132 million. Market concerns over the company's old-new business transition period continued to weigh on the stock.

On the news front, market anxiety over Baidu's business model transformation remained elevated. The company's previously released Q1 earnings revealed a stark divergence: AI cloud revenue reached RMB 8.8 billion with 79% year-over-year growth and GPU cloud revenue surging 183%, with AI business revenue share exceeding 52% for the first time. However, traditional advertising revenue declined 28% year-over-year, and Baidu App quarterly users fell by 22 million sequentially, reflecting continued erosion of search business competitiveness. The core market concern is that the pace of traditional advertising revenue contraction may outstrip AI business growth's ability to compensate.

Within the Interactive Media and Services sector, the broader sector showed weakness. Among peers, Tencent fell 1.63%, Kuaishou fell 2.52%, Bilibili rose 0.08%, Meitu rose 0.53%, and Newborntown was flat.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)