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Baidu Announces Pricing of CNY10 Billion CNY-denominated Senior Notes

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2 years ago

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BEIJING, March 5, 2025 /PRNewswire/ — Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), (“Baidu” or the “Company”), a leading AI company with strong Internet foundation, today announced the pricing of its offering of CNY10 billion aggregate principal amount of CNY-denominated senior unsecured notes (the “Notes”). The Notes were offered in offshore transactions outside the United States to certain non-U.S. persons (the “Notes Offering”) in reliance on Regulation S under the United States Securities Act of 1933, as amended (the “Securities Act”). 

The Notes Offering consists of CNY7.5 billion of 2.70% notes due 2030 and CNY2.5 billion of 3.00% notes due 2035. The Company expects to close the Notes Offering on or about March 12, 2025, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from the Notes Offering for general corporate purposes, including repayment of certain existing indebtedness, payment of interest and general corporate purposes.

The Notes have not been and will not be registered under the Securities Act or any state securities laws. They may not be offered or sold in the United States or to, or for the account or benefits of, U.S. persons (as defined in Regulation S under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

The Notes are expected to be listed on The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”).

This announcement shall not constitute an offer to sell or a solicitation of an offer to purchase any securities, in the United States or elsewhere, and shall not constitute an offer, solicitation or sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. Any offering of securities will be made by means of one or more offering documents, which will contain detailed material information about the Company and its operational and financial performance.

This announcement contains information about the pending Notes Offering, and there can be no assurance that the Notes Offering will be completed.

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, trading on Nasdaq under “BIDU” and HKEX under “9888”. One Baidu ADS represents eight Class A ordinary shares.

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. Baidu may also make written or oral forward-looking statements in its periodic reports to the SEC, in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Baidu’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Baidu’s growth strategies; its future business development, including development of new products and services; its ability to attract and retain users and customers; competition in the Chinese Internet search and newsfeed market; competition for online marketing customers; changes in the Company’s revenues and certain cost or expense items as a percentage of its revenues; the outcome of ongoing, or any future, litigation or arbitration, including those relating to intellectual property rights; the expected growth of the Chinese-language Internet search and newsfeed market and the number of Internet and broadband users in China; Chinese governmental policies relating to the Internet and Internet search providers, and general economic conditions in China and elsewhere. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and other documents filed with the SEC, and announcements on the website of the Hong Kong Stock Exchange. Baidu does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this announcement is as of the date of the announcement, and Baidu undertakes no duty to update such information, except as required under applicable law.

View original content:https://www.prnewswire.com/news-releases/baidu-announces-pricing-of-cny10-billion-cny-denominated-senior-notes-302393818.html

SOURCE Baidu, Inc.

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BIT Asset Management Receives FINMA Approval for Switzerland’s First and Europe’s Only Spot Bitcoin ETF

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47 minutes ago

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October 22, 2026

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The first exchange-traded fund under Swiss law to invest directly in bitcoin, approved for retail investors in Switzerland

ZURICH, Oct. 22, 2026 /PRNewswire/ — BIT Asset Management AG (“BIT AM”), the wholly owned Swiss asset management subsidiary of BIT (www.bit.com), announced that the Swiss Financial Market Supervisory Authority (FINMA) has approved the Bitcoin Fund ETF (Ticker: BBIT). As confirmed in FINMA’s announcement, it is the first exchange-traded fund in Switzerland to invest directly in bitcoin. It is currently Europe’s only spot bitcoin ETF.

The fund is expected to begin trading on SIX Swiss Exchange in November.

Bitcoin Fund ETF (BBIT)

A spot bitcoin ETF is designed to track the price of bitcoin and can be traded through an ordinary brokerage account. It holds bitcoin directly rather than futures or derivatives. This is the structure that brought bitcoin into mainstream portfolios in the United States, where BlackRock’s iShares Bitcoin Trust (IBIT) and ten other spot bitcoin ETFs launched in January 2024.

Most bitcoin products listed in Europe today are exchange-traded products (ETPs), which are debt instruments that carry issuer risk. The Bitcoin Fund ETF is instead a Swiss collective investment scheme. Its assets are held separately from those of the fund management company and are ring-fenced for investors. The fund is open to retail investors in Switzerland, not only qualified investors.

“Switzerland has established itself as a leading hub for digital assets, combining a strong financial sector, regulatory clarity and an innovative ecosystem,” said John Ge, CEO of BIT Group. “For BIT Group, this makes Switzerland a natural choice for our continued international expansion. Launching the first Swiss Bitcoin ETF is an important milestone for us, reflecting our long-term commitment to the Swiss market and our ambition to bridge traditional finance with emerging technologies.”

“With BBIT, we set out to create a truly Swiss Bitcoin ETF, from fund management and custody to its listing on SIX Swiss Exchange. Investors gain direct exposure to Bitcoin through a FINMA-approved Swiss investment fund, benefiting from the regulatory oversight and investor protections of Switzerland’s established collective investment scheme framework.” said Dominik Oggenfuss, CEO of BIT Asset Management. “Investors can now access bitcoin through an ordinary Swiss bank account, with Swiss fund governance, independent custody and daily transparency on holdings.”

Disclaimer: Investing in the Bitcoin Fund ETF involves a high degree of risk, and you may lose all of your capital. The fund is classified under the Swiss regulatory category “Other alternative investment funds” with particular risk and invests exclusively in Bitcoin, which is extremely volatile. The investment fund risks are not comparable to those of securities funds, and temporary borrowing may increase its total risk exposure to a maximum of 125% of its net asset value. Investors should read the fund documentation and risk warnings before investing. The fund is approved for public offering in Switzerland only. This announcement is for information only and is not an offer or solicitation in any jurisdiction. It is not directed at persons in the US or at U.S. persons.

About BIT Asset Management

BIT Asset Management AG is a Zurich-based manager of collective assets regulated by FINMA, and a wholly owned subsidiary of BIT. Formerly Crypto Finance (Asset Management) AG, it was acquired in full by the Group in 2024 and renamed Matrixport Asset Management AG before taking its current name. It offers regulated funds, exchange-traded products, actively managed certificates and discretionary asset management services, bridging traditional finance and digital assets. The company is led by CEO Dominik Oggenfuss.

About BIT

Founded in 2019 as Matrixport, BIT is an all-in-one digital asset platform headquartered in Singapore. It offers trading, investment, payment, custody and real-world asset tokenization. Through its subsidiaries, BIT holds Trust or Company Service Provider and Money Lender licences in Hong Kong, Major Payment Institution license in Singapore, and a FINMA licence as a manager of collective assets in Switzerland. Through its subsidiaries, BIT operates as an Appointed Representative in the UK, is registered as a Money Services Business in the US and is a member of the Swiss self-regulatory organisation VQF.

View original content:https://www.prnewswire.com/news-releases/bit-asset-management-receives-finma-approval-for-switzerlands-first-and-europes-only-spot-bitcoin-etf-302916555.html

SOURCE BIT Asset Management AG

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BIT Asset Management Receives FINMA Approval for Switzerland’s First and Europe’s Only Spot Bitcoin ETF

Published

47 minutes ago

on

October 22, 2026

By

The first exchange-traded fund under Swiss law to invest directly in bitcoin, approved for retail investors in Switzerland

ZURICH, Oct. 22, 2026 /PRNewswire/ — BIT Asset Management AG (“BIT AM”), the wholly owned Swiss asset management subsidiary of BIT (www.bit.com), announced that the Swiss Financial Market Supervisory Authority (FINMA) has approved the Bitcoin Fund ETF (Ticker: BBIT). As confirmed in FINMA’s announcement, it is the first exchange-traded fund in Switzerland to invest directly in bitcoin. It is currently Europe’s only spot bitcoin ETF.

The fund is expected to begin trading on SIX Swiss Exchange in November.

Bitcoin Fund ETF (BBIT)

A spot bitcoin ETF is designed to track the price of bitcoin and can be traded through an ordinary brokerage account. It holds bitcoin directly rather than futures or derivatives. This is the structure that brought bitcoin into mainstream portfolios in the United States, where BlackRock’s iShares Bitcoin Trust (IBIT) and ten other spot bitcoin ETFs launched in January 2024.

Most bitcoin products listed in Europe today are exchange-traded products (ETPs), which are debt instruments that carry issuer risk. The Bitcoin Fund ETF is instead a Swiss collective investment scheme. Its assets are held separately from those of the fund management company and are ring-fenced for investors. The fund is open to retail investors in Switzerland, not only qualified investors.

“Switzerland has established itself as a leading hub for digital assets, combining a strong financial sector, regulatory clarity and an innovative ecosystem,” said John Ge, CEO of BIT Group. “For BIT Group, this makes Switzerland a natural choice for our continued international expansion. Launching the first Swiss Bitcoin ETF is an important milestone for us, reflecting our long-term commitment to the Swiss market and our ambition to bridge traditional finance with emerging technologies.”

“With BBIT, we set out to create a truly Swiss Bitcoin ETF, from fund management and custody to its listing on SIX Swiss Exchange. Investors gain direct exposure to Bitcoin through a FINMA-approved Swiss investment fund, benefiting from the regulatory oversight and investor protections of Switzerland’s established collective investment scheme framework.” said Dominik Oggenfuss, CEO of BIT Asset Management. “Investors can now access bitcoin through an ordinary Swiss bank account, with Swiss fund governance, independent custody and daily transparency on holdings.”

Disclaimer: Investing in the Bitcoin Fund ETF involves a high degree of risk, and you may lose all of your capital. The fund is classified under the Swiss regulatory category “Other alternative investment funds” with particular risk and invests exclusively in Bitcoin, which is extremely volatile. The investment fund risks are not comparable to those of securities funds, and temporary borrowing may increase its total risk exposure to a maximum of 125% of its net asset value. Investors should read the fund documentation and risk warnings before investing. The fund is approved for public offering in Switzerland only. This announcement is for information only and is not an offer or solicitation in any jurisdiction. It is not directed at persons in the US or at U.S. persons.

About BIT Asset Management

BIT Asset Management AG is a Zurich-based manager of collective assets regulated by FINMA, and a wholly owned subsidiary of BIT. Formerly Crypto Finance (Asset Management) AG, it was acquired in full by the Group in 2024 and renamed Matrixport Asset Management AG before taking its current name. It offers regulated funds, exchange-traded products, actively managed certificates and discretionary asset management services, bridging traditional finance and digital assets. The company is led by CEO Dominik Oggenfuss.

About BIT

Founded in 2019 as Matrixport, BIT is an all-in-one digital asset platform headquartered in Singapore. It offers trading, investment, payment, custody and real-world asset tokenization. Through its subsidiaries, BIT holds Trust or Company Service Provider and Money Lender licences in Hong Kong, Major Payment Institution license in Singapore, and a FINMA licence as a manager of collective assets in Switzerland. Through its subsidiaries, BIT operates as an Appointed Representative in the UK, is registered as a Money Services Business in the US and is a member of the Swiss self-regulatory organisation VQF.

View original content:https://www.prnewswire.com/news-releases/bit-asset-management-receives-finma-approval-for-switzerlands-first-and-europes-only-spot-bitcoin-etf-302916555.html

SOURCE BIT Asset Management AG

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ISHCMC expands academic pathways, giving students more ways to shape their futures

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47 minutes ago

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October 22, 2026

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New Personalized Diploma Program builds on ISHCMC’s academic legacy, offering greater choice for Grades 11 and 12 while retaining the full IB Diploma Programme.

HO CHI MINH CITY, Vietnam, Oct. 22, 2026 /PRNewswire/ — The International School Ho Chi Minh City (ISHCMC) will introduce a new Personalized Diploma Program (PDP) from August 2027, expanding academic choices for students in Grades 11 and 12 alongside its established International Baccalaureate Diploma Programme (IBDP).

Building on a learning community shaped by generations of students, educators and families since 1993, the expanded model gives students more ways to shape their senior studies around their strengths, interests and future ambitions. Through a combination of academic choice and educator guidance, ISHCMC aims to help each student make informed decisions about their next steps while contributing to a community that continues to grow with every generation.

Different pathways. A future shaped over generations.

The full IBDP will remain an important part of ISHCMC’s academic offering. The PDP provides an alternative for students seeking a different combination of subjects, bringing together individual IB Diploma courses, Advanced Placement (AP) courses and ISHCMC courses within a personalized program.

Both pathways lead to the ISHCMC High School Diploma, with additional qualifications available depending on the courses taken and assessments completed. Students completing the full IBDP may also earn the IB Diploma by meeting the International Baccalaureate’s requirements. Students following the PDP may earn individual IB course and AP certificates, depending on their course choices and assessment results.

The expanded model recognizes that students may have different interests, strengths and intended university destinations. Rather than expecting every student to follow the same route, ISHCMC will support students in exploring the options available and building an academic program suited to their goals.

“At ISHCMC, every generation benefits from what those before them have built, while adding something of their own. Expanding our academic pathways is about giving students more ways to build on their strengths, pursue their ambitions and shape their futures, supported by the experience and community that have grown here over generations.” Mr. Marco Longmore, Head of School.

Guidance that carries learning forward

Choosing a senior academic pathway is an important decision for students and their families. University requirements vary by country, institution and degree program, making informed subject selection an essential part of planning for life after school.

ISHCMC’s High School and Future Pathways teams will work with students and families to explore course options, understand relevant university entry requirements and make considered decisions about their academic direction. Both pathways can support university applications, with eligibility depending on the qualifications completed and the requirements of each university and program.

The PDP is not intended to be a less demanding alternative to the full IBDP. It offers a different way to structure senior studies around individual goals and course choices, with the expectations and requirements of each course remaining central to the student’s academic experience.

“Every student’s next steps will look different, and our role is to help them understand what those steps require. By working closely with students and families, we can connect individual interests with informed academic choices, helping students approach their future plans with greater clarity and purpose.” Mr. Kohulan Jeganathan, High School Principal.

The new model will begin in August 2027. Ahead of entry into Grades 11 and 12, ISHCMC will work with students and families to explain the available pathways, explore course options and support planning for the transition into senior school. Families can contact the ISHCMC High School and Future Pathways teams to discuss the options and relevant academic requirements.

About the International School Ho Chi Minh City

Established in 1993, the International School Ho Chi Minh City (ISHCMC) is a full-continuum IB international school in Ho Chi Minh City, Vietnam, offering education from Early Years through Grade 12. Its community brings together families from more than 60 nationalities.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/ishcmc-expands-academic-pathways-giving-students-more-ways-to-shape-their-futures-302916587.html

SOURCE International School Ho Chi Minh City

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