刚刚，百度正式公告！

Core Viewpoint - Baidu's subsidiary Kunlun Chip has initiated the process for a potential IPO in Hong Kong, aiming for a public listing by early 2027, with a current valuation of approximately 21 billion RMB (about 2.97 billion USD) [3]. Group 1 - On January 1, Baidu announced that Kunlun Chip submitted a listing application to the Hong Kong Stock Exchange through its joint sponsors [1]. - The proposed spin-off will involve a global offering of Kunlun Chip shares, including a public offering in Hong Kong and a placement to institutional and professional investors [1]. - As of the announcement date, Kunlun Chip is a non-wholly owned subsidiary of Baidu, and it is expected to remain a subsidiary post-spin-off [1]. Group 2 - On December 5, media reports indicated that Kunlun Chip officially began preparations for its Hong Kong listing, targeting the first quarter of 2026 for the application submission [3]. - Following the positive news, Baidu's stock price in Hong Kong surged by 5% [4]. - On December 7, Baidu acknowledged the media reports regarding the potential spin-off and listing of Kunlun Chip, stating that the proposal is under evaluation and subject to regulatory approval [5].