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An undated photo shows an elderly woman dining at a nursing home in Hangzhou, East China's Zhejiang province. [Photo by Sun Yidou/Provided to China Daily]

And during the nation's annual two sessions, Robin Li, chairman of Baidu, said that he was hopeful that his company would be able to list on the domestic stock exchanges as its major users and markets are in China, and it would be ideal if the major shareholders also are in China.

Analysts said the company's transition back into the field aligns with the government's recent efforts to promote renewable energy, as the country is taking bold steps to replace fossil fuels with clean energy sources, especially wind and solar power.

Analysts said the disappointing results were largely driven by a switch in consumer behavior from buying games at retail to purchasing them digitally for the new consoles, as well as, playing games on mobile devices instead of buying used titles for the Xbox 360 and PlayStation 3.

And the top 30 companies will occupy more than 70 percent of market share in the future, it said.