Don't believe in Baidu's high profit margin: that's just accounting trick. Look at global market shares: Baidu vs Google, and Market Cap of Baidu vs Google: baidu is too much overvalued. BIDU worth no more than $50 per share.
Overvalued? Do you know something about accounting? In comparison with google, Baidu have a growth rate of more than 50% and year to year of 100%. With a profit margin of 50%, ist could be way undervalue. Just look American companies with the same growth or even other Chinese ones. For this type of companies normally is 45 times earnings.