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<IPO>BIDU-SW Once Soars 7% as AI Chip Unit Kunlunxin Reportedly Planning HK IPO
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BIDU-SW (09888.HK)'s AI chip unit, Kunlunxin, is planning to list in Hong Kong, Reuters reported, citing sources. Kunlunxin recently completed a round of financing, reaching a valuation of RMB21 billion. Following the news, BIDU-SW's stock price once soared by 7% to a peak of HKD124.8. It last traded at HKD121.4, up 4.84%, on a volume of 14.854 million shares, involving HKD1.792 billion. It is understood that Kunlunxin aims to complete its IPO by early 2027 and intends to submit its listing application to HKEX (00388.HK) as early as 1Q26. Kunlunxin expects to achieve breakeven with this year's revenue growing to over RMB3.5 billion. Last year, it logged a revenue of around RMB2 billion, along with a loss of about RMB200 million. AAStocks Financial News |
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