On June 29, Baidu Group-SW rose 4.61% in regular trading, trading at 104.2 HKD/share, with turnover of approximately 39.76 million HKD.

On the news front, Baidu's AI chip division Kunlunxin is preparing for a Hong Kong listing at a target valuation of $50 billion. Notably, potential IPO investors are being asked to commit to purchasing Kunlunxin chips worth 3 to 7 times their intended subscription amount, signaling strong confidence in the unit's commercial pipeline.

The development validates earlier institutional calls. Citi recently initiated a 30-day positive catalyst watch on Baidu with a Buy rating, noting that the intrinsic strength of Baidu's chip and cloud businesses could drive share price appreciation once the spinoff timeline becomes clear. BOCOM International also maintained a Buy rating and raised its target price to $175, projecting an earnings inflection point in H2, supported by high-growth AI cloud infrastructure revenue and accelerating AI application monetization.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)