Baidu will convert its Hong Kong listing from secondary to primary effective Sept. 1, 2026, creating dual-primary listings on the Hong Kong Stock Exchange and Nasdaq Global Select Market without issuing new shares or raising funds. Hong Kong shares rose more than 5% after the announcement, with one market report citing gains exceeding 6%. The change could make Baidu eligible for Stock Connect, although inclusion typically follows satisfaction of market-capitalization and trading-volume criteria. It also preserves a primary operating venue if U.S. exchange-removal risks materialize. Baidu’s Hong Kong market capitalization was HK$247.9 billion, and the cited analyst assessment maintained a Buy rating with a HK$131.00 price objective.