Baidu Class A Shares Added to Stock Connect, Boosting HK Liquidity After Dual Primary Listing
Baidu Group announced its Class A ordinary shares will be included in the Stock Connect scheme's southbound trading list, effective September 7, 2026, following a notice from the Shanghai Stock Exchange. On September 4, Baidu's Hong Kong-listed shares rose as much as 5.68% intraday, among the top gainers in the Hang Seng Tech Index. The company confirmed no equity or debt financing plans, with cash and investments exceeding $40 billion.
Baidu Group announced on September 4 that its Class A ordinary shares have been included in the southbound trading list of the Shanghai-Hong Kong Stock Connect, effective September 7, 2026, according to a notice from the Shanghai Stock Exchange issued the same day. On September 4, Baidu's Hong Kong-listed shares rose as much as 5.68% intraday, making it one of the top gainers in the Hang Seng Tech Index.
The company confirmed that it will not raise funds through share issuance, bond issuance, or convertible bond issuance. As of the announcement date, Baidu's total cash and investments exceeded $40 billion, with related investments showing a self-sustaining trend.
On September 1, Baidu completed its dual primary listing on the Hong Kong Stock Exchange and the Nasdaq Global Select Market, becoming a major Hong Kong-listed tech company with full-stack AI capabilities. Its business architecture covers chips, cloud, models, and application layers, including general-purpose agents and autonomous ride-hailing platforms. Financial data shows that Baidu's AI business revenue has accounted for more than half of its general business revenue for two consecutive quarters.