Baidu Signs Cooperative Agreement with China Netcom
BEIJING, April 8, 2008 /Xinhua-PRNewswire/ -- Baidu.com, Inc. (Nasdaq: BIDU), the leading Chinese language Internet search engine, today announced the signing of an agreement with China Netcom Group (CNC) (NYSE: CN; 0906.HK) to jointly provide a Baidu-powered Internet search page for CNC users.
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According to the agreement, Baidu's leading Internet search service will be leveraged to help CNC Internet users find information they need online more efficiently by powering a jointly designed search page that users will be redirected to after they attempt to visit an incorrect or nonexistent URL.
"We are determined to become the leading provider of broadband communications and multimedia services in China," said Yiming Fang, CNC's general manager of media business. "Our goal is to provide our users with the most convenient, efficient and comprehensive service by coupling our vast customer base with Baidu's leading technology and market position in search. The synergy between Baidu and CNC will be enormously valuable for all of our customers."
"As one of the 2008 Beijing Olympic Games sponsors, CNC commands an extensive customer base and shares core values with Baidu, such as a commitment to providing user-oriented services. These commonalities served as the foundation of our partnership," added Haoyu Shen, Baidu's vice president of business operations. "As we continue to transform Baidu Union from a search and advertising network to a true business solutions provider, Baidu is increasingly lending expertise in search and product design and development of business models to partners. We find these types of partnerships mutually beneficial."
"CNC is the leading national telecom operator with dominant market share in northern China," Shen continued, "In addition to bringing an easier and more enjoyable user experience to CNC's customers, the joint offering will also popularize the use of Internet search engines among new users who might be unfamiliar with Internet search. We are confident that this agreement will strengthen Baidu's position as the search engine partner of choice for telecom operators seeking to improve services for customers."
About China Netcom Group
China Network Communications Group Corporation (China Netcom) is a leading broadband communications and fixed-line telecommunications operator in China. The Company aims to pursue innovation and growth with a goal to be a "broadband communications and multimedia services provider".
Baidu.com, Inc. is the leading Chinese language Internet search provider. As a technology-based media company, Baidu aims to provide the best way for people to find information. In addition to serving individual Internet search users, Baidu provides an effective platform for businesses to reach potential customers. Baidu's ADSs, each of which represents one Class A ordinary share, are currently trading on the NASDAQ Global Select Market under the symbol ''BIDU''.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, quotations from management in this announcement contain forward-looking statements. Statements that are not historical facts, including statements about Baidu's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those contained in any forward- looking statements. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the Securities and Exchange Commission. All information provided in this press release is as of April 8, 2008, and Baidu undertakes no duty to update such information, except as required under applicable law.
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SOURCE Baidu.com, Inc. -0- 04/08/2008 /CONTACT: For investor inquiries - Helen Zhang of Baidu.com, Inc., +86- 10-8260-7558, or email@example.com; For investor and media inquiries - In China: Helen Plummer of Ogilvy Public Relations Worldwide (Beijing), +86-10- 8520-3090, or firstname.lastname@example.org; In the US: Thomas Smith of Ogilvy Public Relations Worldwide (New York), +1-212-880-5269, or email@example.com, both for Baidu / /Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20041011/BAIDULOGO PRN Photo Desk, 888-776-6555 or 212-782-2840/ /Web site: http://www.baidu.com / (BIDU CN) CO: Baidu.com, Inc.; China Network Communications Group Corporation ST: China IN: CPR ITE MLM NET PUB TLS SU: ASI LIC NL -- CNTU017 -- 1333 04/08/2008 07:06 EDT http://www.prnewswire.com