Baidu Announces Disposal of Its Food Delivery Subsidiary
BEIJING, AUGUST 24, 2017 Baidu, Inc. (the Company or Baidu) (NASDAQ: BIDU), the leading Chinese language internet search
provider, today announced that the Companys majority owned subsidiary, Xiaodu Life Technology Ltd (Xiaodu), which operates the food delivery business, has completed its merger (Merger) with Rajax Merger Sub Limited, a
wholly owned subsidiary of Rajax Holding, which operates the food delivery business under the ele.me brand in China. As a result of the Merger, Xiaodu has become a subsidiary of Rajax.
Baidu and Rajax have also agreed to a business cooperation across a broad base of products and services following completion of the Merger.
Baidu, Inc. is the leading Chinese
language Internet search provider. Baidu aims to make a complex world simpler through technology. Baidus ADSs trade on the NASDAQ Global Select Market under the symbol BIDU. Currently, ten ADSs represent one Class A ordinary
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