Jin Rong Jie·2026-01-02 02:04Core Viewpoint - Baidu Group's stock has risen over 15% this week, with a current increase of 5.32%, reaching HKD 138.5, driven by the announcement of its subsidiary Kunlun Chip's application for a public listing on the Hong Kong Stock Exchange [1] Group 1: Company Developments - Baidu Group announced that Kunlun Chip has submitted a listing application to the Hong Kong Stock Exchange on January 1, aiming for a public offering through a spin-off [1] - Kunlun Chip focuses on AI chip development, with applications in data centers, cloud computing, and autonomous driving [1] Group 2: Financial Projections - JPMorgan forecasts that Kunlun Chip's revenue will surge from approximately RMB 1.3 billion in 2025 to RMB 8.3 billion in 2026, representing a sixfold increase [1] - Based on an average price-to-sales ratio of 10 times for tech stocks, the valuation of Kunlun Chip could exceed RMB 80 billion, significantly enhancing Baidu's asset value [1]