Movement Alert｜Baidu Group-SW Rises 3.1% in Regular Trading, Kunlun Chip Dual-Track IPO Progress and Institutions Reaffirm Buy Rating

Market Focus

Jun 02

On June 2, Baidu Group-SW rose 3.1% in regular trading, trading at 133.2 HKD/share, with trading volume of HKD 376 million.

On the news front, Baidu's AI chip subsidiary Kunlun Chip has officially initiated Science and Technology Innovation Board (STAR Market) listing guidance, following its confidential filing with the Hong Kong Stock Exchange in January, signaling an accelerating \"A+H\" dual-track IPO strategy. Morgan Stanley previously assigned Kunlun Chip an independent valuation of USD 40-49 billion, while Haitong International estimated it could contribute USD 48.7 billion in market capitalization to Baidu.

Additionally, Kaiyuan Securities and Guosheng Securities recently reaffirmed their \"Buy\" ratings on Baidu, citing favorable prospects from the Kunlun Chip spin-off and continued AI business momentum. Guosheng Securities projects revenue of RMB 132.3/144.3/159.6 billion for 2026-2028 and non-GAAP net income of RMB 17.3/21.0/24.7 billion, assigning a target price of HKD 157. First-quarter results showed AI business revenue of RMB 13.6 billion, up 49% year-over-year, surpassing 50% of general business revenue for the first time.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Morgan Stanley previously assigned Kunlun Chip an independent valuation of USD 40-49 billion, while Haitong International estimated it could contribute USD 48.7 billion in market capitalization to Baidu.Additionally, Kaiyuan Securities and Guosheng Securities recently reaffirmed their \\\"Buy\\\" ratings on Baidu, citing favorable prospects from the Kunlun Chip spin-off and continued AI business momentum. Guosheng Securities projects revenue of RMB 132.3/144.3/159.6 billion for 2026-2028 and non-GAAP net income of RMB 17.3/21.0/24.7 billion, assigning a target price of HKD 157. First-quarter results showed AI business revenue of RMB 13.6 billion, up 49% year-over-year, surpassing 50% of general business revenue for the first time.(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. 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