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Technology Stocks : Baidu (BIDU)
BIDU 140.36+0.7%Aug 12 4:00 PM EDT

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From: Frank Sully9/21/2021 11:52:34 AM
   of 2008
Baidu and China Gas Collaborate to Accelerate Smart Energy Transformation



Sep. 21, 2021, 08:57 AM

BEIJING, Sept. 21, 2021/PRNewswire/ -- Baidu, Inc. (NASDAQ:BIDU and HKEX:9888), a leading AI company with strong Internet foundation, and China Gas Holdings Ltd. (HKEX: 384), a leading gas operator and service provider in China, have inked a strategic cooperation agreement to drive digital and intelligent transformation in the energy and power sector with innovative solutions based on Baidu AI Cloud. The companies will also explore business opportunities that contribute to achieving a peak in carbon emissions and ultimately carbon-neutrality.

With a global focus on smart energy and environmental protection, cloud and AI technologies are emerging as invaluable technologies for enhancing efficiencies, unlocking value, and reducing carbon footprints. Under the first stage of their partnership, worth RMB 936 million yuan, Baidu will expedite China Gas' move to the cloud and harness its AI capabilities to build customized applications including smart monitoring, smart scheduling, gas usage prediction, and smart customer services.

"With over 40 million users, China Gas has its sights set beyond gas to new AI technologies and services for public benefit," said Yong Huang, executive president of China Gas. Huang spoke highly of Baidu as a well-respected technology company with forward-looking investment and outstanding results in the field of AI.

"We are in a golden era in which digital technology and traditional industries are deeply integrated," said Haifeng Wang, Baidu's Chief Technology Officer. "Baidu AI Cloud will leverage its competitive advantages to enable digital transformation, accelerate intelligent upgrades, and empower thousands of industries that drive the national economy and support people's livelihoods and society's well-being."

Key details from the strategic partnership include that both parties will:
  • Set up the China Gas Digital Technology Committee to incorporate industry practices as industry standards.
  • Incorporate initiatives from Baidu into China Gas to train professionals and management specialized in digital transformation, including "AICA – AI Chief Architect Development Program".
  • Establish advanced digital management systems for China Gas, including proprietary cloud, AIoT, big data, and AI middle office.
  • Expand the "one city, one network" business with the assistance of AIoT, inspection robots, smart energy, and industry apps.
  • Creating an ecosystem that draws enterprises like home appliance makers, automakers, property operators, and manufacturers in large industrial parks.
  • Participating in the process of developing standards for carbon emissions peaking and neutrality while deepening cooperation with governments and enterprises.
As one of the top four cloud infrastructure providers in China, according to Canalys, Baidu AI Cloud offers a full suite of cloud services and solutions differentiated with AI solutions. In July, 2021, Baidu AI Cloud executed a significant upgrade setting it up for success working across different industries, including Internet, media, telecom, financial services, transportation and logistics, education and manufacturing.

About China Gas

China Gas Holdings Limited ("China Gas", stock code: 384.HK) is one of the largest trans-regional comprehensive energy suppliers in China engaged in investment and construction, operation and management, warehousing and logistics, trading and distribution businesses of various gas and new energy projects. The Group, with piped natural gas as major business, has managed to build a comprehensive scope of business that includes liquefied natural gas, compressed natural gas, liquefied petroleum gas, natural gas thermoelectricity, distributed energy, energy management, value-added service, equipment manufacturing, etc.

About Baidu

Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation. Baidu is traded on the NASDAQ Global Select Market under the symbol "BIDU", and on the main board of the Hong Kong Stock Exchange under the stock code "9888". Currently, one ADS represents eight Class A ordinary shares.
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