Baidu said in its earnings report yesterday that it is planning to dispose of a majority equity stake in its financial service business. Total assets of RMB 47.0 billion, or $7.5 billion, and total liabilities of RMB 41.2 billion, or $6.6 billion, associated with Baidu’s financial service business were reclassified to assets and liabilities held for sale on the condensed consolidated balance sheet as of March 31, 2018. Any such transaction will be subject to the approval by the board of directors of the company, and there can be no assurance that the transaction will be completed, or the terms or timing therefore.