Many people familiar with the matter believe that the main reason for Jiyue's sudden collapse is Baidu's withdrawal of investment. An insider at Baidu informed that the company sent a financial team to conduct due diligence on Jiyue in October 2024 in preparation for a subsequent investment of 3 billion: "The result revealed that Jiyue was in financial turmoil, with a financial shortfall of up to 7 billion, and the decision was made to stop further investment." (Caixin)
知情人士：极越闪崩主要原因在于百度撤资
Informed sources: The main reason for the sudden collapse of Jiyue is Baidu's withdrawal of investment.
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