Baidu Announces Proposed Spin-off and Separate Listing of Kunlunxin

Core Viewpoint - Baidu, Inc. announced a proposed spinoff and separate listing of the H shares of its subsidiary Kunlunxin on the Hong Kong Stock Exchange to enhance its market profile and attract investors in the AI chip sector [1][2]. Group 1: Proposed Spinoff Details - The proposed spinoff aims to independently showcase Kunlunxin's value and leverage its standalone listing to broaden financing channels and align management accountability with performance [1]. - A listing application form has been submitted to the Hong Kong Stock Exchange on a confidential basis for the H shares of Kunlunxin [2]. - The details of the proposed spinoff are not finalized and are subject to approvals from the HKEX and the China Securities Regulatory Commission [3].