Baidu CFO Wang Zhansheng Passes Away Unexpectedly During the New Year Holiday

Baidu announced today that its CFO, Wang Zhansheng, passed away unfortunately due to an accident during his New Year vacation. According to the announcement, the position of CFO at Baidu will remain temporarily vacant until a new appointment is made. The relevant department heads will ensure the normal operation of the company's financial and information disclosure systems. A related person from Baidu stated that it was due to Wang Zhansheng's efforts that Baidu, in over two years since its IPO, has established a complete set of mature financial auditing and information disclosure systems. This year, Baidu successfully passed the review of the U.S. Sarbanes-Oxley Act in the middle of the year, becoming one of the Chinese companies with the most efficient and transparent financial system operation management.