Baidu Completes Dual Primary Listing in Hong Kong

Baidu, Inc. completed its conversion to a dual primary listing on the Hong Kong Stock Exchange on September 1, 2026. The company initially announced the change on August 27, 2026. Baidu shares now trade on both the Hong Kong Stock Exchange (stock codes 9888 in HKD and 89888 in RMB) and the Nasdaq Global Select Market.

The company’s ordinary shares listed in Hong Kong and its American depositary shares on Nasdaq are fungible. This means investors can convert between the two. Each American depositary share represents eight Class A ordinary shares.

Baidu maintains a weighted voting rights structure. Class A shares carry one vote each, while Class B shares carry ten votes each. The company is incorporated in the Cayman Islands. The board of directors includes Chairman and CEO Robin Yanhong Li, and independent directors Yuanqing Yang, Jixun Foo, Sandy Ran Xu, and Xiaodan Liu.

The listing change does not affect the company’s voting structure or corporate governance. Investors should be aware of the risks associated with weighted voting rights structures, the filing states.