9888.HK Stock Today: January 4 — Kunlun Chip IPO Filing in HK
Hong Kong investors are focused on the Baidu Kunlun Chip IPO after Baidu confirmed a confidential HKEX application. Shares of 9888.HK traded at HK$143.8, up 9.35%, touching a year high of HK$144.1. The Baidu Kunlun Chip IPO could unlock value in Baidu’s AI chip unit and highlight China’s chip supply chain. A Goldman Sachs estimate values Baidu’s 59% stake in Kunlun at up to US$22 billion if priced like peers, making this a near‑term catalyst for Baidu stock.
Baidu Stock Moves on HK Filing
Baidu stock jumped to HK$143.8, up HK$12.3 or 9.35%, with a day range of HK$132.0 to HK$144.1 and volume of 33.86 million versus a 14.18 million average. Price now sits above the 50-day average of HK$119.48 and 200-day average of HK$100.37, and at a new 52-week high. The Baidu Kunlun Chip IPO news clearly acted as the session’s main driver.
Momentum improved: RSI is 63.91, MACD turned positive with a 0.67 histogram, and CCI at 171 suggests overbought conditions. Price trades above the upper Bollinger Band at 127.92, showing strong upside but a risk of near-term pullback. ADX is 11.54, so trend strength is still limited. ATR at 4.32 points to wider intraday swings ahead.
What the IPO Could Unlock
Goldman Sachs estimates Baidu’s 59% Kunlun stake could be worth up to US$22 billion if the Baidu Kunlun Chip IPO prices in line with peers. That potential value discovery could lift sum-of-the-parts for Baidu stock and improve market transparency around the chip unit’s growth profile, margins, and customer pipeline.
The Baidu Kunlun Chip IPO would fund R&D, expand customer reach, and let the chip business set clearer commercial targets as an AI chip spin-off. It also spotlights China’s AI chip ecosystem as firms seek domestic options. A Hong Kong listing could broaden the investor base and provide a currency for partnerships and future capacity investment.
Timeline, Process, and Risks
Baidu confirmed a confidential HKEX application for Kunlun. Size, valuation, and timetable are not public. Next steps likely include the listing hearing, preliminary prospectus, and bookbuild, subject to market conditions and regulatory review. Local media first flagged the filing; see coverage at AASTOCKS and industry commentary on Eastmoney.
IPO market sentiment could shift, affecting pricing and timing. Competitive pressure from domestic chip leaders and export controls remain watch-points. Related-party dealings will need clear terms post-listing. Earnings on 18 Feb 2026 could add volatility. Investors should treat the Baidu Kunlun Chip IPO as a catalyst, but keep position sizes and stops aligned with risk.
How We Are Framing 9888.HK
Track HKEX updates on the Baidu Kunlun Chip IPO, any cornerstone interest, and customer wins for Kunlun chips. On price action, watch if shares hold above HK$140 on strong volume, whether MACD remains positive, and if RSI cools from overbought. A steady base above the 50-day average would support a constructive near-term view.
At roughly 13.3x TTM EPS and 1.28x P/B, valuation is not stretched versus recent growth. Our quant Stock Grade is B+ with a BUY tilt, but near-term technicals flag potential pullbacks after a sharp run. We favor staggered entries and clear stop-losses while the Hong Kong listing path firms up.
Final Thoughts
The Baidu Kunlun Chip IPO is now a live catalyst for Hong Kong investors. Confirmation of a confidential HKEX filing pushed 9888.HK to a new year high and reset expectations for value discovery in Baidu’s AI chip unit. A potential US$22 billion look-through stake value, if realized, could lift sum-of-the-parts and improve transparency on revenue, margins, and customers. Near term, watch for listing hearing developments, any cornerstone interest, and updates around 18 Feb earnings. Given overbought signals and price above upper bands, we prefer adding on dips, keeping risk tight. For medium-term holders, maintain focus on execution, funding, and contract wins tied to the Hong Kong listing.
FAQs
It is a proposed Hong Kong listing of Baidu’s AI chip unit, Kunlun. A standalone listing could clarify revenues, margins, and customers, and provide capital for R&D and capacity. For Baidu shareholders, value discovery may raise sum-of-the-parts, while investors gain a direct way to assess China’s AI chip supply chain progress.
It creates a catalyst that may support sentiment and valuation. Positive milestones like a listing hearing, prospectus release, and cornerstone demand could lift shares. Conversely, delays, weak order visibility, or market risk-off could weigh. Expect higher volatility as traders react to each step in the Hong Kong listing process.
Baidu confirmed a confidential HKEX application, but size, valuation, and timing are not public. The next steps include regulatory review, a listing hearing, and bookbuilding. Actual timing will depend on market conditions and approvals. Investors should watch company updates and HKEX disclosures for concrete dates.
Monitor HKEX announcements, any cornerstone allocations, and Kunlun customer wins. On price, see if 9888.HK holds above HK$140 with firm volume and whether overbought signals cool. Also track Baidu’s 18 Feb earnings for guidance on chip momentum, capex plans, and any details related to the spin-off structure.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
