Broker Name: DBS

Date of Report: January 2026 (inferred from context)

Excerpt from DBS report.

Report Summary:

• Baidu announced that its AI chip unit, Kunlunxin, has confidentially filed for a Hong Kong Main Board listing, and is expected to remain a subsidiary after listing. The filing is subject to regulatory approvals, and detailed financial disclosures are still pending.
• Positive sentiment in the China AI chip sector is boosted by President Xi’s emphasis on domestic chip breakthroughs and the strong debut of Biren’s IPO, which may set a strong valuation benchmark for Kunlunxin. DBS maintains a BUY rating on Baidu, seeing further upside as more information on the Kunlunxin IPO is released.

Above is an excerpt from a report by DBS. Clients of DBS can be the first to access the full report from the DBS website: https://www.dbs.com