Baidu Provides Update on Voluntary Conversion to Dual-Primary Listing on the Main Board of the Hong Kong Stock Exchange
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Rhea-AI Summary
Baidu (Nasdaq: BIDU; HKEX: 9888/89888) announced that its voluntary conversion from a secondary to a primary listing on the Main Board of the Hong Kong Stock Exchange will take effect on September 1, 2026, making Baidu a dual-primary listed company in Hong Kong SAR and on the Nasdaq Global Select Market. The conversion involves no new share issuance or fundraising. From the effective date, the “S” stock marker will be removed from its HKD and RMB counters, and Baidu will fully comply with Hong Kong Listing Rules as a dual-primary issuer, supported by committee changes and shareholder approval obtained on August 26, 2026.
Details
News Market Reaction – BIDU
On Aug 27, the first trading day after this news, BIDU closed 3.98% above the previous close. Our momentum scanner recorded 4 alerts for this stock that day. Relative volume reached 4.4x the daily average during tracking.
Data tracked by StockTitan Argus for the Aug 27 session.
Key Figures
- Effective Date
- September 1, 2026
- Hong Kong dual-primary listing conversion
- Shareholder Approval Date
- August 26, 2026
- Extraordinary general meeting
- HKEX Stock Counters
- 9888 and 89888
- HKD and RMB counters
Historical Context
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EGM approvals advanced the Hong Kong primary-listing conversion ahead of effectiveness.
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Baidu launched fully driverless Apollo Go robotaxis on Uber in Dubai.
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Apollo Go began offering fully driverless rides through Uber in selected Dubai areas.
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Q2 revenue declined while AI-powered business revenue and AI Cloud Infra grew.
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Scheduled Q2 results release and conference call for August 18.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
secondary listing regulatory
dual-primary listed issuer regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Upon the Effective Date, Baidu will become a dual-primary listed company on the Hong Kong Stock Exchange in Hong Kong SAR and the Nasdaq Global Select Market in
Upon the Effective Date, the Company will be required to comply with all the relevant Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Hong Kong Listing Rules") applicable to a dual-primary listed issuer. The Company has taken the necessary measures to comply with the Hong Kong Listing Rules applicable to a dual-primary listed issuer upon the Effective Date, including changing the composition of its Audit Committee and Nominating and Corporate Governance Committee and obtaining the necessary shareholder approvals for the conversion at the extraordinary general meeting of the Company held on August 26, 2026.
About Baidu
Founded in 2000, Baidu's mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet foundation, trading on Nasdaq under "BIDU" and HKEX under "9888". One Baidu ADS represents eight Class A ordinary shares.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Among other things, Baidu's and other parties' strategic and operational plans, contain forward-looking statements. Baidu may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Baidu's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Baidu's growth strategies; its future business development, including development of new products and services; its ability to attract and retain users and customers; competition in the Chinese Internet search and newsfeed market; competition for online marketing customers; changes in the Company's revenues and certain cost or expense items as a percentage of its revenues; the outcome of ongoing, or any future, litigation or arbitration, including those relating to intellectual property rights; the expected growth of the Chinese-language Internet search and newsfeed market and the number of Internet and broadband users in China; Chinese governmental policies relating to the Internet and Internet search providers, and general economic conditions in China and elsewhere. Further information regarding these and other risks is included in the Company's annual report on Form 20-F and other documents filed with the Securities and Exchange Commission, and announcements on the website of the Hong Kong Stock Exchange. Baidu does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of the press release, and Baidu undertakes no duty to update such information, except as required under applicable law.
View original content:https://www.prnewswire.com/news-releases/baidu-provides-update-on-voluntary-conversion-to-dual-primary-listing-on-the-main-board-of-the-hong-kong-stock-exchange-302860703.html
SOURCE Baidu, Inc.
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