Baidu Shareholders Approve Dual Primary Listing; Q2 Revenue RMB 31.3 Billion, Net Profit RMB 2.3 Billion
Baidu shareholders approved all resolutions for a dual primary listing at an extraordinary general meeting on August 26, 2026, completing a key step. The company reported second-quarter total revenue of RMB 31.3 billion, down 2% quarter-on-quarter and 4% year-on-year. Baidu Core revenue was RMB 25.2 billion, down 3% quarter-on-quarter and 4% year-on-year, while iQIYI revenue rose 1% quarter-on-quarter to RMB 6.3 billion but fell 5% year-on-year. Net profit attributable to Baidu was RMB 2.3 billion, down 68% year-on-year, and non-GAAP net profit was RMB 2.6 billion, down 45.7%. Shares closed up 1.28% at HK$90.9.
Baidu Group announced on August 26, 2026, on the Hong Kong Stock Exchange that its extraordinary general meeting had formally approved all resolutions, completing a key step in its dual primary listing. Previously, Baidu had completed board authorization and confirmation of its application by the Hong Kong Stock Exchange, with a clear implementation pace. A dual primary listing means the same company is listed on two stock exchanges with equal listing status; if it is delisted from one exchange, its listing status on the other is unaffected.
Baidu released its second-quarter financial results on August 18, 2026. Total revenue was RMB 31.3 billion, down 2% quarter-on-quarter and 4% year-on-year. Among this, Baidu Core revenue was RMB 25.2 billion, down 3% quarter-on-quarter and 4% year-on-year; iQIYI revenue was RMB 6.3 billion, up 1% quarter-on-quarter and down 5% year-on-year. Net profit attributable to Baidu was RMB 2.3 billion, down 68% year-on-year; non-GAAP net profit was RMB 2.6 billion, down 45.7% year-on-year.
As of the close on August 26, Baidu's share price rose 1.28% to HK$90.9 per share.
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