What did Baidu confirm about Kunlun Chip’s listing?

Baidu said Kunlun Chip filed a confidential HKEX listing application and will remain a subsidiary after the split. This keeps control with Baidu while giving the chip unit room to raise capital and report results more clearly. Investors will look for prospectus details on governance, use of proceeds, and unit‑level metrics.

How did Baidu stock trade after the news?

Shares rose 9.35% to HK$143.8 with a new 52‑week high at HK$144.1 and volume well above average. The price is above the 50‑day and 200‑day averages. Technicals show RSI 63.9 and CCI 171, which suggest near‑term overbought conditions and possible swings.

Is Baidu’s valuation still reasonable after the jump?

At about 13.3x TTM earnings and 1.28x book, Baidu’s multiples remain moderate versus many AI stories. Margins are solid, but TTM free cash flow per share is negative, which investors should monitor. A clearer sum‑of‑parts, post listing, could reshape the valuation debate for Baidu stock.

What are the next key dates for investors?

Watch for HKEX review developments and any prospectus updates from Kunlun Chip. For the group, earnings are scheduled for 18 February 2026. Delivery on AI monetization, cloud profitability, and Apollo milestones can drive sentiment in Hong Kong alongside the chip unit’s listing progress.

Global Market Insights

9888.HK Stock Today: January 05 – Kunlun Chip Spin-Off Unlocks Value

ByDanny Kontos January 5, 2026January 5, 2026

Baidu stock rallied in Hong Kong after the company said Kunlun Chip, its AI chip unit, filed a confidential HKEX listing application and will remain a subsidiary post split. Investors see clearer value for the chip business and a stronger full‑stack AI story. In recent trade, 9888.HK rose to HK$143.8, up 9.35%, with a new 52‑week high at HK$144.1. We break down what the filing means, today’s market action, key metrics, and the next catalysts for Hong Kong investors.