What is the Baidu Kunlun Chip IPO and why does it matter?

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.

How could the IPO impact 9888.HK in the near term?

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.

When could the Baidu Kunlun Chip IPO occur?

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.

What should Hong Kong investors watch next?

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.

Global Market Insights

9888.HK Stock Today: January 4 — Kunlun Chip IPO Filing in HK

ByDanny Kontos January 4, 2026January 4, 2026

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.