Baidu, Inc. announced that its voluntary conversion to dual-primary listings on The Stock Exchange of Hong Kong Limited’s Main Board became effective September 1, 2026, allowing the Beijing AI company to be listed on both the Nasdaq Global Select Market and the Main Board.
An announcement was made by the company about its effectiveness. issuer release In a letter dated 31 August 2026, the company stated that both its American Depositary Shares listed on Nasdaq and its Ordinary Shares listed in Hong Kong will remain fungible.
Conversion changes
Baidu said it in an earlier announcement The conversion is not a fundraising activity or issuance of shares by the company. Stock markers “S” From September 1, 2020, the Hong Kong dollar counter and the renminbi currency counters at the Hong Kong Stock Exchange will no longer be listed as short names.
Baidu, as a dual primary listed company in Hong Kong, must comply with Hong Kong’s listing regulations. It said that it has taken all necessary steps to be compliant, such as changing its Audit Committee and Nominating and Corporate Governance Committee composition, and getting the shareholder approvals required.
The company has a website that provides information about the business. exchange announcement filed with its Form 6-KWith the conversion of Baidu from a secondary issuer, it loses several waivers, exemptions, and privileges. They cover matters like printed corporate communications and monthly returns. Hong Kong Stock Exchange has granted Baidu several replacement waivers in connection with this conversion. These include:
- Permission for joint secretaries to be appointed by the company within three years of its effective date. Lin Juan of the company was named as its board secretary and head of Investor Relations. Wong Mei, of Computershare Hong Kong Investor Services Limited, also joined Lin Juan.
- Continued relief in identifying the ultimate beneficial owner of Integrity Partners V, LLC, which is an entity associated with an early stage investor who supported Baidu prior to its initial public offering (IPO) in the U.S.A. The company reported that this entity had 100,320 Class Bordinary Shares representing less than 0.1% voting rights and has committed to not issuing it more Class B shares.
- Baidu is exempted from some of the requirements for continuing transactions relating to contractual arrangements that are used by it as a vehicle through which its businesses, subject to Chinese restrictions on foreign investment, operate.
- Allowance to adjust the price at which share options can be exercised into American depository shares to reflect the closing Nasdaq prices, rather than Hong Kong’s. Continue to apply U.S. financial standards.
Approvals for corporate changes
Baidu’s Board of Directors approved pursuing conversion by July 16, 2026. saying at the time This change was expected to take place within the next year. They believed that the dual-primary listings would improve the liquidity of their securities, increase its investor base and allow them greater flexibility when accessing the two capital markets.
On August 26th, 2026 the company held a general meeting of extraordinary proportions in Beijing. all proposed resolutions were duly passedSecuring the necessary approvals from all shareholders for conversion.
Baidu’s six amended and restated Memorandum and Articles of Association, approved by special Resolution on August 26, 20,26 and taking effect on September 1, 2020, were included in the 6-K that was filed on 27 August 2026. It was signed by Haijian He (Chief Financial Officer). According to those articles, every Class A ordinary shares has one vote. Each Class B ordinary shares have ten votes.
Baidu is governed by a structure of weighed voting rights. Baidu American depositsary shares represent eight Class A ordinary share. It was founded in 2000 and describes itself as an AI leader with strong Internet foundations. In 2005, it listed on Nasdaq and completed its initial offering.
