---
title: "Understanding the Market | Baidu Group-SW opened over 3% higher, the company stated it is evaluating the listing of Kunlun Core's spin-off"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/268879846.md"
description: "Baidu Group-SW opened over 3% higher, and as of the time of writing, it rose 3.29% to HKD 125.6, with a transaction volume of HKD 200 million. On the news front, on the evening of December 7, Baidu Group announced that the company noted media reports on December 5, 2025, regarding its plan to spin off its non-wholly-owned subsidiary Kunlun Core (Beijing) Technology Co., Ltd. for independent listing. The company hereby clarifies that it is currently evaluating the proposed spin-off and listing. If the proposed spin-off and listing proceed, it will require relevant regulatory approval procedures, and the company does not guarantee that the proposed spin-off and listing will take place. JP Morgan previously believed that Baidu's investment narrative is undergoing a fundamental transformation: the company is transitioning from a traditional search advertising company to an AI infrastructure provider, expecting that Kunlun chip sales and GPU computing demand will significantly boost revenue growth. JP Morgan expects Baidu's Kunlun chip revenue to soar from approximately RMB 1.3 billion in 2025 to RMB 8.3 billion in 2026, an increase of 6 times"
datetime: "2025-12-08T01:26:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/268879846.md)
  - [en](https://longbridge.com/en/news/268879846.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/268879846.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/268879846.md) | [繁體中文](https://longbridge.com/zh-HK/news/268879846.md)


# Understanding the Market | Baidu Group-SW opened over 3% higher, the company stated it is evaluating the listing of Kunlun Core's spin-off

According to Zhitong Finance APP, Baidu Group-SW (09888) opened over 3% higher, and as of the time of writing, it rose 3.29% to HKD 125.6, with a transaction volume of HKD 200 million.

On the news front, on the evening of December 7th, Baidu Group announced that the company noted media reports on December 5, 2025, regarding its plan to spin off its non-wholly-owned subsidiary Kunlun Core (Beijing) Technology Co., Ltd. for independent listing. The company hereby clarifies that it is currently evaluating the proposed spin-off and listing. If the proposed spin-off and listing proceed, it will require relevant regulatory approval procedures, and the company does not guarantee that the proposed spin-off and listing will take place.

JP Morgan previously believed that Baidu's investment narrative is undergoing a fundamental shift: the company is transforming from a traditional search advertising company to an AI infrastructure provider, expecting that Kunlun chip sales and GPU computing demand will significantly boost revenue growth. JP Morgan forecasts that Baidu's Kunlun chip revenue will soar from approximately RMB 1.3 billion in 2025 to RMB 8.3 billion in 2026, an increase of six times

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- [Baidu (BIDU.US)](https://longbridge.com/zh-CN/quote/BIDU.US.md)
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