Baidu Robin Lis internal letter: after the epidemic, the economy is back to growth is a long-term issue.

category:Finance
 Baidu Robin Lis internal letter: after the epidemic, the economy is back to growth is a long-term issue.


Speaking of Baidus investment in the fight against the epidemic, Robin Li said, we have always been contributing to our people and the country in the position we need and in the position we are good at. It is a long-term subject for the economy to return to growth after the epidemic, and a lot of new opportunities are also being nurtured, he said.

The following is the full text of Robin Lis earnings letter:

Dear Baidu students

Just past 2019, for Baidu, is a key year of change. The significance and key impact of such changes are fully reflected in the fourth quarter and full year 2019 financial statements released this morning:

During the reporting period, the company achieved revenue of 28.9 billion yuan in the fourth quarter, and the net profit attributable to Baidu reached 9.2 billion yuan (non GAAP), up 95% year on year. The total revenue in 2019 is 107.4 billion yuan. Our revenue exceeded Wall Streets expectations for three consecutive quarters, and our quarterly growth was better than last quarter.

It took us a year to cultivate our internal skills and complete the deep adjustment of our organization and business. In 2020, we will adhere to mission driven, technological innovation, strengthen the understanding of users and customers, build the most powerful mobile ecosystem with information and knowledge as the core according to the continuous evolution of market changes, and make greater breakthroughs in the scale of intelligent new business revenue.

In 2019, our mobile ecosystem has formed a more comprehensive and diversified ecological layout with baijiahao, smart applet and hosting page as its three pillars. In the fourth quarter, the number of original authors of baijiahao reached 2.6 million, a year-on-year increase of 38%. Smart apps received 30% of search traffic, and the revenue of hosting page has accounted for a quarter of Baidus core online marketing service revenue. All these efforts are expanding Baidus mobile ecosystem from knowledge and information to services and transactions, so that users, customers, and content and service providers can find their own value nodes in our ecosystem.

By the end of last year, Baidus first search result satisfaction rate has reached 58%. Baidu app has 195 million active users per day, a year-on-year increase of 21%, and the search volume in the app has increased nearly 30% year-on-year, becoming a solid foundation for the continuous expansion of mobile ecology. The unique value of Baidu as an information and knowledge platform is being re recognized and redefined with the increase of user participation and trust.

Our Baidu brain has been upgraded to 5.0, becoming an AI mass production platform integrating hardware and software. The annual sales volume of Xiaodu smart speaker is the first in China, and Xiaodu smart screen ranks the first in the world in the speaker with screen. In December, voice interaction of Xiaodu assistant reached 5 billion times, more than three times of the same period last year; voice interaction of the first party hardware of Xiaodu brand reached 2.3 billion times, more than seven times of the same period last year. Baidu AI Clouds technological strength is in the leading position in Chinas market, and AICloud is the first in the industry. In December, the total test mileage of Apollo fleet exceeded 3 million kilometers, covering 23 cities such as Beijing, Wuhan and Changchun. In the second half of the year, driverless taxis launched trial operation in Changsha and Cangzhou, and cooperation with Yinchuan and Cangzhou vehicle road collaborative infrastructure has become a new focus to promote intelligent transportation.

In 2019, we ranked first in China with 5712 patent applications for artificial intelligence. Our independently developed Kunlun and Honghu chips have been deployed in the companys own business, and the application optimization in vision, voice, natural language processing and other fields has initially achieved results. In the selection of CAS, Harvard Business Review and other domestic and foreign institutions, we are the only Chinese company that has entered the top four AI companies in the world. We are duty bound to win more say for China in the era of artificial intelligence! Although we have a long way to go, we still have a strong way to go!

From before the Spring Festival to now, in the fight against the epidemic, we have been contributing our greatest strength to our people and our country where people need to be and where we are good at. The novel coronavirus pneumonia information searches by Baidu users over 1 billion times a day during the epidemic period, which makes us feel that Baidu has a great responsibility and responsibility for information and knowledge entrance. Baidu health ask doctors daily consultation volume is more than 850000, which also reflects the high demand of online consultation service under the epidemic situation. We can see that the migration map is a global representation of peoples mobility, the AI solution for rapid detection of multiple peoples body temperature, and the AI algorithm is used to improve the efficiency of RNA analysis of new coronavirus Every application of big data and artificial intelligence technology is highly concerned by the public. Next, we have to run faster to catch up with everyones eager eyes.

It is a long-term task for the economy to return to growth after the epidemic, and a large number of new opportunities are also in the pipeline. Online entertainment, education, advertising and other related fields of business, will usher in greater development. Intelligent service, health and safety, public management and other application scenarios will also become a new battlefield for Baidu to play its role.

Enterprises are the cells of social economy. We need to speed up our physical fitness, make good products, focus on business diversification and income diversification, and manage and develop Baidu well. As a platform company, we should also help our partners to accumulate strength and take off stably, so as to inject new energy and vitality into the strong rebound of Chinas economy. This is also the original intention of our recent upgrade of the sharing plan to provide a special promotion fund with a total value of 2 billion yuan. If the vast majority of small and medium-sized enterprises can survive well, Chinas economy will certainly be better!

This year is the 20th anniversary of Baidu. We have been constantly achieving results and honor, while experiencing difficulties and challenges. We need to remind ourselves at all times: we need to have the mind and responsibility of large companies, and we need to keep the efficiency and creativity of small companies; we need to operate companies on the principle of simple dependence, and we need to treat the world in a simple and reliable way; we need to always put social value and humanistic care first, and adhere to long-term doctrine.

If so, I believe that in the next 20 years, all the persistence of technological innovation, the ideal of changing the world, all the passion, courage and vitality will come together into a light, just as the past 20 years have illuminated our way, and in the next 20 years will illuminate the distance we will eventually reach!

Robin