CMC List designation prompts response from Baidu (NASDAQ: BIDU)

Rhea-AI Filing Summary

Baidu, Inc. reported that the U.S. Department of Defense has issued a notice designating the company for inclusion on its list of Chinese Military Companies, known as the CMC List. Baidu states it is neither a Chinese military company nor a military‑civil fusion contributor and sees no justification for this designation.

The company emphasizes that the CMC List is not a sanctions list. According to Baidu, related U.S. government procurement limits will not impact its business and the list does not restrict transactions in its securities. Baidu’s American depositary shares trade on NASDAQ under “BIDU,” with each ADS representing eight Class A ordinary shares.

Positive

• None.

Negative

• The U.S. Department of Defense has included Baidu on its list of Chinese Military Companies (CMC List), introducing additional regulatory and perception risk even though the list is not a sanctions list.

Insights

Regulatory risk analyst

U.S. CMC designation raises policy risk, but Baidu notes no sanctions.

The U.S. Department of Defense has placed Baidu on its Chinese Military Companies (CMC) List. The company explicitly states it is not a Chinese military company or a military‑civil fusion contributor and argues there is no justification for the designation.

Baidu also highlights that the CMC List is not a sanctions list. It states that U.S. government procurement limits tied to the list will not impact its business and that the designation does not restrict transactions in its securities. The long‑term impact depends on future U.S. policy developments not described here.

Key Figures

CMC List designation date: June 9, 2026 ADS share ratio: 1 ADS = 8 Class A shares HKEX tickers: 9888 and 89888 +1 more

4 metrics

CMC List designation date June 9, 2026 Date Baidu became aware of inclusion on U.S. CMC List

ADS share ratio 1 ADS = 8 Class A shares Structure of Baidu American depositary shares

HKEX tickers 9888 and 89888 Baidu trading symbols on HKEX HKD and RMB counters

Investor relations phone +86-10-5992-8888 Baidu investor relations contact number in Beijing

Key Terms

Chinese Military Companies, CMC List, military-civil fusion contributor, ADS, +1 more

5 terms

Chinese Military Companies regulatory

"the Deputy Secretary of Defense has included the Company on the Department of Defense’s list of Chinese Military Companies"

Companies based in China that design, build or supply goods and services for military or defense purposes, or that are owned or controlled by military organizations. They matter to investors because they can face special rules, government priorities, export controls, or sanctions that affect profits, access to markets and transparency; think of them like firms that make gear for a national fire department—steady demand but close government oversight and extra risk.

CMC List regulatory

"included the Company on the Department of Defense’s list of Chinese Military Companies (the “CMC List”)"

A CMC list is a set of technical items about a drug's chemistry, manufacturing and quality controls that regulators expect a developer to explain, fix or monitor as part of the approval and production process. For investors it matters because unresolved CMC issues can delay approvals, add unexpected costs, or create supply problems—like an appliance failing safety checks and being held off shelves—so progress on the list signals lower regulatory and manufacturing risk.

military-civil fusion contributor regulatory

"neither a Chinese military company nor a military-civil fusion contributor to the Chinese defense industrial base"

ADS financial

"One Baidu ADS represents eight Class A ordinary shares"

Ads are paid promotional messages a company places across media — online, on TV, in print, or on social platforms — to attract customers, explain products, or shape public perception. For investors, ads matter because they drive sales growth, affect how much a company must spend to win customers, and influence brand strength and long-term value. Ads can also create regulatory or reputational risk if claims are misleading, which can affect profits and stock price.

foreign private issuer regulatory

"FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER"

A foreign private issuer is a company organized outside the United States that meets tests showing it is primarily foreign-controlled and therefore qualifies for a different set of U.S. reporting rules. For investors, that means the company files less frequent or differently formatted disclosures with U.S. regulators and may follow home-country accounting and governance practices, so buying its stock is like dining at a well-reviewed restaurant that follows its home kitchen’s rules instead of the local menu — you get access but should check what standards apply.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of June 2026

Commission File Number: 000-51469

BAIDU, INC.

Baidu Campus

No. 10 Shangdi 10th Street

Haidian District, Beijing 100085

The People’s Republic of China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒   Form 40-F ☐

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press Release—Baidu Responds to Inclusion on U.S. CMC List

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

BAIDU, INC.
By		:		/s/ Haijian He
Name		:		Haijian He
Title		:		Chief Financial Officer

Date: June 9, 2026

Exhibit 99.1

Baidu Responds to Inclusion on U.S. CMC List

BEIJING, June 9, 2026 /PRNewswire/ — Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888 (HKD Counter) and 89888 (RMB Counter)), (“Baidu” or the “Company”), a leading AI company with strong Internet foundation, today became aware that the U.S. Department of Defense has published a Notice, Designation of Chinese Military Companies, and pursuant to the Notice, the Deputy Secretary of Defense has included the Company on the Department of Defense’s list of Chinese Military Companies (the “CMC List”).

As the Company is neither a Chinese military company nor a military-civil fusion contributor to the Chinese defense industrial base, the Company believes that there is no justification for the Company’s inclusion on such list.

The CMC List is not a sanctions list. The U.S. government procurement limitations tied to the list will not impact the business of the Company, and the CMC List does not restrict transacting in the securities of the Company.

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.

SOURCE Baidu, Inc.

Investors Relations, Baidu, Inc., Tel: +86-10-5992-8888, Email: ir@baidu.com

FAQ

What did the U.S. Department of Defense do regarding Baidu (BIDU)?

The U.S. Department of Defense issued a notice designating Baidu for inclusion on its Chinese Military Companies (CMC) List. Baidu disputes the designation, stating it is neither a Chinese military company nor a military‑civil fusion contributor to the Chinese defense industrial base.

Is Baidu’s inclusion on the U.S. CMC List a sanctions action?

No, the company states the CMC List is not a sanctions list. Baidu explains that, under this designation, U.S. government procurement limits apply but it believes these will not affect its business operations or restrict trading in its securities.

How does Baidu say the CMC List designation affects its business?

Baidu says U.S. government procurement limitations linked to the CMC List will not impact its business. The company also notes that the designation does not restrict transactions in Baidu’s securities, including its NASDAQ‑listed American depositary shares.

How does Baidu characterize its own business in response to the CMC List?

Baidu describes itself as a leading AI company with a strong Internet foundation, not a Chinese military company or military‑civil fusion contributor. It states there is no justification for its inclusion on the U.S. Department of Defense’s Chinese Military Companies List.

Where are Baidu (BIDU) shares listed and how are its ADSs structured?

Baidu’s American depositary shares trade on NASDAQ under the symbol BIDU and on HKEX under 9888. The company states that one Baidu ADS represents eight Class A ordinary shares, providing investors with an explicit share conversion ratio.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EX-99.1 2.7 KB