Group 1 - Baidu Group announced on December 7 that it is evaluating the potential spin-off and independent listing of its subsidiary Kunlun Chip (Beijing) Technology Co., Ltd. [1] - The company clarified that any spin-off and listing would require regulatory approval and does not guarantee that the process will occur [1] Group 2 - On December 5, the stock price of Baidu surged over 7% due to rumors of Kunlun Chip's listing, closing up 5% at HKD 121.6 [3] - Kunlun Chip, which was established as an independent entity in 2021, has completed multiple rounds of financing, with Baidu holding a 59.45% stake [3] - The company has launched three generations of products, with the third generation P800 series set for mass production in 2024, and plans for the next generation M100 and M300 products to be released in 2026 and 2027, respectively [3]