Summary by Moomoo AI
On December 31, 2023, Baidu, Inc. filed an amendment to Schedule 13G, indicating changes in ownership by significant shareholders. Robin Yanhong Li, the founder of Baidu, and his entity Handsome Reward Limited reported substantial holdings in the company. Li is reported to have sole voting power over 512,777,776 ordinary shares, representing 18.2% of the class and 59.3% of the total outstanding voting power. Handsome Reward Limited, wholly owned by Li, holds an additional 451,964,032 ordinary shares, accounting for 16.1% of the class and 58.5% of the voting power. The filing also notes that Li has voting power over shares held by certain employees who have granted him irrevocable voting proxies. The document, signed on February 14, 2024, confirms Li's significant influence over Baidu, with the combined voting power of Li and Handsome Reward Limited amounting to a majority of the company's voting power.