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Based on the black-box recording device and other evidence, a female passenger surnamed Liu missed her stop and demanded that the driver, surnamed Ran, stop immediately. When the driver refused, Liu hit him on the head with her cellphone, and a scuffle ensued. Ran lost control of the bus, which smashed through a bridge's guardrail and plunged into the river with an estimated 15 passengers on board in Wanzhou, Chongqing.

Baidu currently holds nearly 70 percent of the shares in iQiyi and will continue to remain its controlling shareholder, iQiyi said in the IPO filing.

Based on a UBS Investment Research report released on Tuesday, the price earnings ratio of the benchmark CSI 300 Index has been approaching historic lows, last hit in mid-2015 and early 2016.

Baoneng was not available for comment. But a source close to Chery confirmed to Chinese news website Jiemian that Baoneng will acquire the equity that Chery wants to sell. The transfer is likely to start in late November, and Baoneng has become well prepared financially, with an initial fund of 3 billion yuan already in place, said the source.

Baidu launched its Apollo platform in April 2017. So far, it has attracted over 130 global partners, and has been used by over 12,000 developers and partners worldwide.