Movement Alert|BIDU-SW Rises 3.36% in Regular Trading, Officially Confirms Dual Primary Listing Conversion Effective September 1

Market Focus
Aug 27

On August 27, BIDU-SW rose 3.36% in regular trading, trading at 94.2 HKD/share, with turnover of HKD 146 million.

On the news front, Baidu published an official announcement confirming its voluntary conversion from secondary listing to primary listing status on the Hong Kong Stock Exchange, effective September 1. Upon conversion, the company will maintain dual primary listing status on both HKEX and NASDAQ, with the \"S\" marker removed from its Hong Kong dollar and RMB counter stock names.

The company simultaneously disclosed revised terms of reference for its audit committee, remuneration committee, and nomination and corporate governance committee, fully aligning with HKEX primary listing compliance requirements. The shareholder special general meeting held on August 26 had already approved all related resolutions, completing the key prerequisite approval. Market participants note that if the conversion takes effect before the September 3 review date, BIDU-SW could be included in Stock Connect as early as the week of September 7.

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