News

The US House Financial Services Committee will hold a hearing on the Federal Reserve's monetary policy report on July 14, and will discuss in New York on July 17 the impact of the CLARITY Act on digital assets and financial innovation. (Cointelegraph)

Analyst Alicia Yap wrote that Baidu's "inherent strength in the chip and cloud business could become a catalyst for rising stock prices." "Although it is difficult to determine when overall market sentiment will shift, we believe that once the timetable for Baidu's chip business spin-off and market interest become clearer, there will still be opportunities to unlock value."

The plan authorizes the company to repurchase ordinary shares worth up to 50 million US dollars on the open market. This move aims to optimize the company's capital structure and enhance shareholder value. The repurchase plan will be executed flexibly based on factors such as market conditions, share price levels, and the company's liquidity needs. Company management stated that this action reflects the board of directors’ confidence in the company’s long-term development prospects and their ongoing focus on capital allocation strategies. The specific timing and scale of the stock repurchase plan will be determined at the discretion of management and may be suspended or terminated at any time. The company plans to fund the repurchase through existing cash balances.