Group 1 - The core point of the news is that Baidu Group is evaluating the potential spin-off and independent listing of its subsidiary Kunlun Chip (Beijing) Technology Co., Ltd., with no guarantee that the process will proceed [1] - Kunlun Chip has reportedly initiated preparations for a Hong Kong listing, aiming to submit its application to the Hong Kong Stock Exchange in the first quarter of 2026, with a target IPO completion in early 2027 [3] - Following the news, Baidu's stock price surged by 5.01% to HKD 121.60 at the close on December 5 [4] Group 2 - Kunlun Chip, incubated internally by Baidu, completed its first round of financing in April 2021 with an initial valuation of approximately RMB 13 billion, and Baidu holds a 59.45% stake [4] - As of July 2025, Kunlun Chip has completed its D round of financing, attracting investments from notable institutions [4] - The market competitiveness of Kunlun Chip is recognized, with projected revenues exceeding RMB 1 billion in 2024, surpassing other companies in the sector [6] - Morgan Stanley forecasts that Kunlun Chip's revenue will increase from approximately RMB 1.3 billion in 2025 to RMB 8.3 billion in 2026, representing a sixfold growth [6]
昆仑芯拟独立上市，百度确认处于评估阶段
Sou Hu Cai Jing·2025-12-09 01:54