Dec. 9 at 3:26 AM
$BIDU 200$. Alibaba to follow suits.
Baidu (BIDU) confirmed in a regulatory filing on Monday that it is in the process of assessing a proposed spinoff and listing plan.
Last week, a Reuters report indicated that Baidu's (BIDU) AI chip division, Kunlunxin, is planning for a Hong Kong IPO after a recent funding round that valued it at around 21 billion yuan (~
$3 billion). Kunlunxin aims to submit its listing application to the Hong Kong Stock Exchange as early as Q1 2026. Sources indicate the company wanted to complete an IPO by early 2027.
Baidu (BIDU) noted that if the spinoff plan moves forward, the listing will be subject to the relevant regulatory approval process. It was also highlighted that there is no assurance that the proposed spinoff and listing will proceed.
Shares of Baidu (BIDU) were up 3.0% in premarket trading on Monday after jumping 5.9% higher on Friday. The stock is up just over 49% on a year-to-date basis. The Seeking Alpha Quant Rating on Baidu (BIDU) is Hold.