We recently published 10 Stocks Already Shocking 2026 With Massive Gains. Baidu, Inc. (NASDAQ:BIDU) was one of the top performers last week.
Baidu saw its share prices jump by 20.4 percent week-on-week to hit a new 52-week high, as investors took heart from its semiconductor subsidiary’s plan to list publicly on the Hong Kong Stock Exchange.
In a regulatory filing, Baidu, Inc. (NASDAQ:BIDU) said that it was looking to spin off Kunlunxin (Beijing) Technology Co., Ltd. in line with its plan to separately list the latter’s series H shares on the HKEx.
Stock market data. Photo by RDNE Stock Project on Pexels
An official filing has already been submitted, but the proposed spinoff has yet to be finalized, pending approval of the HKEx, filing completion with the China Securities Regulatory Commission, and the final decisions between the two firms.
It noted, however, that Kunlunxin would remain a subsidiary of Baidu, Inc. (NASDAQ:BIDU) following the listing.
“The proposed spin-off aims to independently showcase Kunlunxin’s value, attract investors focused on the AI chip sector, and leverage its standalone listing to enhance its market profile, broaden financing channels, and better align management accountability with performance. This also supports the effort to unlock the value of Baidu’s AI-powered businesses,” Baidu, Inc. (NASDAQ:BIDU) said.
Founded in 2012, Kunlunxin supports Baidu, Inc.’s (NASDAQ:BIDU) ambition to become a full-stack AI company.
Last year, Kunlunxin bagged 1 billion yuan worth of orders from technology companies supplying to China Mobile—one of the country’s largest mobile carriers.
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Disclosure: None. This article is originally published at Insider Monkey.
