Alibaba, Baidu Next to Shed Light on China Crackdown Tolls
- Over 30 firms in the Golden Dragon Index will report earnings
- Results clouded by Beijing’s clampdown, demand weakness
The Baidu Inc. map app.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
U.S.-listed Chinese technology shares that have staged a rebound this month are facing a reality check in the coming weeks as they disclose the earnings hit from Beijing’s regulatory clampdown.
Over 30 members accounting for more than half of the Nasdaq Golden Dragon Index’s weighting are slated to release quarterly results in the remainder of November. They include search engine Baidu Inc., which is estimated to log a 82% year-on-year drop in net income, and e-commerce giant Alibaba Group Holding Ltd, whose earnings are expected to fall 17%, Bloomberg-compiled data show.