Announces Conference Call Scheduled for November 19th 2008 for DiscussionBEIJING, Nov 18, 2008 /PRNewswire via COMTEX News Network/ -- Baidu.com, Inc. (Nasdaq: BIDU), the
leading Chinese language Internet search provider, today issued this press
release in response to recent CCTV reports.
(Logo: http://www.newscom.com/cgi-bin/prnh/20081103/BAIDULOGO )
Baidu focuses on providing customers with cost-effective and targeted
marketing solutions. Baidu's pay-for-performance ("P4P") paid search platform
enables its customers to reach users who search for information related to
their products or services. Customers may use Baidu's automated online tools
to create text-based descriptions of their web pages and bid on keywords that
trigger the display of their links and web page information.
China Central Television ("CCTV"), the largest state-owned television
network in China, reported in its program "News in 30 Minutes" on November 15
and 16 that Baidu had been including websites of medical companies that do not
hold proper licenses in its paid search listings for some popular medical
terms, while excluding certain websites which did not buy keywords.
Shortly after the CCTV program was broadcast, Baidu initiated dialogue
with CCTV regarding this matter. At the same time, Baidu removed paid search
listings of certain customers, particularly medical and pharmaceutical
customers without licenses on file with Baidu. Baidu will allow these
customers to resume access to Baidu's P4P paid search platform once their
relevant licenses are provided to and reviewed by Baidu. These customers
account for approximately 10-15% of Baidu's total revenues. Baidu believes
this immediate measure is the most prudent way to protect the interests of
Baidu's users. Currently, it is difficult to estimate how many removed
customers will provide relevant licenses to Baidu and when they will do so.
Baidu will work closely with customers to ensure those customers with proper
licenses will be able to access Baidu's services again quickly. While Baidu
is currently uncertain about the near term financial impact of this prudent
measure, Baidu does not believe it would have significant impact on Baidu's
results in the long term.
On November 17, 2008, Baidu issued a public statement in China,
acknowledging that there could be cases where certain companies take advantage
of Baidu's paid search platform for questionable purposes. Baidu is committed
to social responsibility and will continue to improve its sales and
operational systems commensurate with its status as the leading Chinese
language Internet search provider.
Separately, Baidu would like to affirm that Baidu has never excluded
websites of any customers because they did not pay for keywords, and Baidu
does not tolerate such practices.
Baidu is committed to playing a leading role in shaping the standards for
China's Internet industry. Baidu strives to further strengthen its
operational systems and infrastructure. With a more mature operation, Baidu
will grow even better able to serve increasing numbers of small and medium-
sized enterprises ("SMEs"), the backbone of the Chinese economy.
Conference Call Information
Baidu will hold a live analyst conference call at 7:00 AM on November 19,
2008 U.S. Eastern Time (8:00 PM on November 18, 2008 Beijing/Hong Kong time).
Dial-in details for the conference call are as follows:
US: + 1-617-213-8842
UK: + 44-207-365-8426
Hong Kong: + 852-3002-1672
Passcode for all regions: 88779261
A replay of the conference call may be accessed by phone at the following
number until November 26, 2008:
International: + 1-617-801-6888
Additionally, a live and archived webcast of this conference call will be
available at http://ir.baidu.com .
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
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. 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 November 18, 2008, and Baidu undertakes no duty to update
such information, except as required under applicable law.
For investor inquiries please contact:
Ogilvy Financial, Beijing
Ogilvy Financial, New York
For media inquiries please contact:
Ogilvy Financial, Beijing
SOURCE Baidu.com, Inc.