🇺🇸 SECBaidu, Inc.Qwen · 实盘不做把握 4/10不做原因:已被定价
北京时间·🕒 发布 20:55:49·⟳ 抓取 20:57:01 +1m12s·⚡ 决策 09-04 21:03:36 +6m35s·53.0 天前
百度港股获纳入沪港通港股通标的，9月7日生效，内地投资者可直接交易
百度港股今日已涨+4.81%（量比1.8x），充分反映了沪港通纳入消息。该事件在9月1日双重主要上市生效时已被市场广泛预期（CFO公开提及互联互通预期），属于'预期内落地'而非新增surprise。Stock Connect纳入不像指数纳入存在被动资金强制买入机制，南向资金将在2-4个月内逐步建仓（花旗预测约60亿美元），不构成明日追入的短期催化。
📄 原文Baidu, Inc.↗ 原文
----- d947999d6k.htm ----- 6-K 1 d947999d6k.htm FORM 6-K Form 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASH…
不做 百度集团（09888.HK）
今日已涨+4.81%（量比1.8x）充分反映沪港通纳入公告效应；该事件在9月1日双重主要上市生效时已被市场广泛预期（CFO公开提及），属预期内落地而非新增surprise；Stock Connect无被动资金强制买入机制，南向流入为2-4个月渐进过程，不构成明日追入的短期edge
不做 百度集团(ADR)（BIDU.US）
Stock Connect纳入直接影响港股而非ADR；盘前已涨+2.3%反映联动；ADR与港股价差套利机制会迅速抹平额外溢价，无独立交易价值
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
百度9888.HK获纳入沪港通港股通（9月7日生效），属正面事件但已被充分定价：①9月1日双重主要上市生效时市场即预期此结果（CFO公开提及）；②今日港股已涨+4.81%、量比1.8x，反映公告效应；③Stock Connect无被动资金强制买入机制，南向流入为2-4个月渐进过程；④我司历史百度交易0%胜率。综合判断无剩余短期edge。
关键理由
- 沪港通纳入为百度打开内地投资者直接买入通道，花旗预测2-4个月净新增南向资金约60亿美元（占市值~18%），中长期利好流动性
- 百度双重主要上市+港股通纳入组合拳有助于提升估值和投资者基础多元化
主要风险
- 今日+4.81%已充分反映公告效应，明日追入面临'见光死'/获利回吐风险
- 百度近20日跌超10%、13周趋势持续下行，单一正面事件难以扭转趋势
反向证据
- 做多前查反向 · 来源 kb_search · 影响 weakens
8月18-19日百度港股暴跌11%（美股跌12.7%），此后持续阴跌，13周路径从100降至82，表明存在近期重大负面事件（可能为业绩不及预期），当前正面事件难以独立扭转趋势
检索:百度 利空 业绩 下调 监管 风险 2026年8月9月
先例如何影响了这次决策
对本次决策的影响:先例缺失不改变AVOID结论，因为price-in证据（今日+4.81%、提前预期）已独立充分
方向:无法从已验证先例中得出方向结论
涨幅量级:无高相似先例可用于校准幅度
形态:无法判断是否反复见光死
工具执行结果 · 成功 10 · 降级 0 · 失败 0 · 取消 0
- fetch_decision_experience 成功 stock_tools HTTP · 303 ms
{ - search_processed_events 成功 stock_tools HTTP · 1,122 ms
{"result": "search_processed_events:agent query=`baidu stock connect inclusion | 沪港通 港股通标的调整 2026年9月 | 百度 沪港通 纳入 | 百度集团 9888 港股通标的`；结构化索引覆盖完整 72 小时；旧记录兼容扫描近 71.9/72 小时、7295 条本臂决策(完整)，返回 0 条候选。未命中只表示这些 agent query 表达式没有召回候选，不能据此证明消息首发或不是重复；按当前事件继续正常研判。"} - stock_quote 成功 stock_tools HTTP · 817 ms
{ - stock_quote 成功 stock_tools HTTP · 1,416 ms
{ - kb_search 成功 stock_tools HTTP · 3,187 ms
{ - search_case_library 成功 stock_tools HTTP · 143 ms
{"result": "search_case_library「9888.HK,BIDU.US」—— 与这些标的相关的自家决策案例(本页 12 条,该标的全历史相关记录共 169 条；ENTER 只按该标的自己的腿统计):\n◆ 9888.HK：相关历史决策 45 条 · 其中该标的 ENTER 1 条(2.2%) · 已结算 1 笔 · 胜率 0% · 中位 -0.09% · 均值 -0.09% ⚠️只有 1 笔,样本太薄,只能当线索不能当规律\n◆ BIDU.US：相关历史决策 124 条 · 其中该标的 ENTER 2 条(1.6%) · 已结算 2 笔 · 胜率 0% · 中位 -5. - kb_search 成功 stock_tools HTTP · 2,312 ms
{ - kb_search 成功 stock_tools HTTP · 2,866 ms
{ - kb_search 成功 stock_tools HTTP · 2,988 ms
{ - search_case_library 成功 stock_tools HTTP · 125 ms
{"result": "search_case_library「9618.HK,9988.HK,9999.HK」无历史决策命中(我们过去没在这些标的上决策过,或历史尚未回填)。\n◆ 9618.HK：相关历史决策 33 条 · 其中该标的 ENTER 0 条(0.0%) · 我们从没在这只票上 ENTER 过\n◆ 9988.HK：相关历史决策 281 条 · 其中该标的 ENTER 0 条(0.0%) · 我们从没在这只票上 ENTER 过\n◆ 9999.HK：相关历史决策 15 条 · 其中该标的 ENTER 0 条(0.0%) · 我们从没在这只票上 ENTER 过"}
原文全文
展开原文 · 9,170 字
----- d947999d6k.htm -----
6-K
1
d947999d6k.htm
FORM 6-K
Form 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE
13a-16
OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2026
Commission File Number:
000-51469
BAIDU, INC.
Baidu Campus
No. 10 Shangdi 10th Street
Haidian District, Beijing 100085
The People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F
or Form
40-F.
Form 20-F ☒ Form
40-F ☐
EXHIBIT INDEX
Exhibit No.
Description
99.1
Press Release—Baidu Announces Upcoming Inclusion of Its Class A Ordinary Shares in the Shanghai-Hong Kong Stock Connect Program
99.2
Voluntary Announcement—Baidu Announces Upcoming Inclusion of Its Class A Ordinary Shares in the Shanghai-Hong Kong Stock Connect
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
BAIDU, INC.
By
:
/s/ Haijian He
Name
:
Haijian He
Title
:
Chief Financial Officer
Date: September 4, 2026
----- d947999dex991.htm -----
EX-99.1
2
d947999dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
Baidu Announces Upcoming Inclusion of Its Class A Ordinary Shares in the Shanghai-Hong Kong Stock Connect Program
BEIJING, China, September 4, 2026 – Baidu, Inc. (“Baidu” or the “Company”) (Nasdaq: BIDU; HKEX: 9888 (HKD Counter) and
89888 (RMB Counter)), a leading AI company with strong Internet foundation, today announced that the Company’s Class A ordinary shares traded on The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) will be
included in the Shanghai-Hong Kong Stock Connect program, effective September 7, 2026.
The inclusion is pursuant to the Notice of the Adjustment of
the Eligible Stocks in Hong Kong Stock Connect under the Shanghai-Hong Kong Stock Connect issued by the Shanghai Stock Exchange on September 4, 2026.
Following the inclusion, eligible investors in the Chinese Mainland will have direct access to the trading of Baidu’s Class A ordinary shares
through the Shanghai-Hong Kong Stock Connect. The inclusion marks an important step toward expanding the Company’s reach among Chinese Mainland investors and is expected to further diversify its investor base and enhance the liquidity of its
shares.
Baidu appreciates the continued support of its shareholders and investors and remains committed to driving sustainable growth and creating
long-term value for shareholders.
About the Shanghai-Hong Kong Stock Connect
The Shanghai-Hong Kong Stock Connect established a
two-way
trading link between the Shanghai Stock Exchange and the
Hong Kong Stock Exchange. The stock connect allows qualified Chinese Mainland investors to access eligible Hong Kong shares (Southbound) as well as Hong Kong and overseas investors to trade eligible
A-shares
(Northbound), subject to a certain amount of daily quota.
About Baidu
Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet
foundation, trading on Nasdaq under “BIDU” and HKEX under “9888”. One Baidu ADS represents eight Class A ordinary shares.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,”
“plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, Baidu’s and other parties’ strategic and operational plans, contain forward-looking statements.
Baidu may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in
press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Baidu’s beliefs and
expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including
but not limited to the following: Baidu’s growth strategies; its future business development, including development of new products and services; its ability to attract and retain users and customers; competition in the Chinese Internet search
and newsfeed market; competition for online marketing customers; changes in the Company’s revenues and certain cost or expense items as a percentage of its revenues; the outcome of ongoing, or any future, litigation or arbitration, including
those relating to intellectual property rights; the expected growth of the Chinese-language Internet search and newsfeed market and the number of Internet and broadband users in China; Chinese governmental policies relating to the Internet and
Internet search providers, and general economic conditions in China and elsewhere. Further information regarding these and other risks is included in the Company’s annual report on Form
20-F
and other documents filed with the Securities and Exchange Commission, and announcements on the website of the Hong Kong Stock Exchange. Baidu does not undertake any obligation to update any forward-looking statement, except as required under
applicable law. All information provided in this press release and in the attachments is as of the date of the press release, and Baidu undertakes no duty to update such information, except as required under applicable law.
SOURCE Baidu, Inc.
Investor Relations, Baidu, Inc., Tel:
+86-10-5992-8888,
Email: ir@baidu.com
----- d947999dex992.htm -----
EX-99.2
3
d947999dex992.htm
EX-99.2
EX-99.2
Exhibit 99.2
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no
representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
Under our weighted voting rights structure, our share capital comprises Class A ordinary shares and Class B ordinary shares. Each Class A
ordinary share entitles the holder to exercise one vote, and each Class B ordinary share entitles the holder to exercise 10 votes, respectively, on all matters subject to the vote at general meetings of the Company. Shareholders and prospective
investors should be aware of the potential risks of investing in a company with a weighted voting rights structure. Our American depositary shares, each representing eight of our Class A ordinary shares, are listed on Nasdaq in the United
States under the symbol BIDU.
Baidu, Inc.
百度集團股份有限公司
(A company controlled through weighted voting rights and incorporated in the
Cayman Islands with limited liability)
(Stock Codes: 9888 (HKD counter) and 89888 (RMB counter))
VOLUNTARY ANNOUNCEMENT
BAIDU ANNOUNCES UPCOMING INCLUSION OF
ITS CLASS A ORDINARY SHARES
IN THE SHANGHAI-HONG KONG STOCK CONNECT
This announcement is made by Baidu, Inc. (the “
Company
”) on a voluntary basis to provide its shareholders and potential investors with
information in relation to the latest development of the Company.
The Company is pleased to announce that the Class A ordinary shares of the Company
have been included as eligible stocks under the Shanghai-Hong Kong Stock Connect with effect from September 7, 2026, pursuant to
《關於滬港通下港股通標的調整的通知》
(Notice of the Adjustment of the Eligible Stocks in Hong Kong Stock Connect under the Shanghai-Hong Kong Stock Connect*) issued by the Shanghai Stock Exchange on September 4, 2026.
The Company believes that its inclusion in the Shanghai-Hong Kong Stock Connect marks an important step toward expanding the Company’s reach among
Chinese Mainland investors. The inclusion is expected to further diversify its investor base and enhance the liquidity of its shares.
The Company would
like to thank the continued support of its shareholders and investors and remains committed to executing its long-term strategy, driving sustainable growth and creating long-term value for its shareholders.
1
Shareholders of the Company and potential investors are advised to exercise caution when dealing in the
shares or other securities of the Company.
By order of the Board
Baidu, Inc.
Mr. Robin Yanhong Li
Chairman of the Board
and Chief Executive Officer
Hong Kong, September 4, 2026
As at the date of this announcement, the board of directors of the Company comprises Mr. Robin Yanhong Li as director, and Mr. Yuanqing Yang,
Mr. Jixun Foo, Ms. Sandy Ran Xu and Ms. Xiaodan Liu as independent directors.
*
For identification purposes only
2
6-K
1
d947999d6k.htm
FORM 6-K
Form 6-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE
13a-16
OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2026
Commission File Number:
000-51469
BAIDU, INC.
Baidu Campus
No. 10 Shangdi 10th Street
Haidian District, Beijing 100085
The People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form
20-F
or Form
40-F.
Form 20-F ☒ Form
40-F ☐
EXHIBIT INDEX
Exhibit No.
Description
99.1
Press Release—Baidu Announces Upcoming Inclusion of Its Class A Ordinary Shares in the Shanghai-Hong Kong Stock Connect Program
99.2
Voluntary Announcement—Baidu Announces Upcoming Inclusion of Its Class A Ordinary Shares in the Shanghai-Hong Kong Stock Connect
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
BAIDU, INC.
By
:
/s/ Haijian He
Name
:
Haijian He
Title
:
Chief Financial Officer
Date: September 4, 2026
----- d947999dex991.htm -----
EX-99.1
2
d947999dex991.htm
EX-99.1
EX-99.1
Exhibit 99.1
Baidu Announces Upcoming Inclusion of Its Class A Ordinary Shares in the Shanghai-Hong Kong Stock Connect Program
BEIJING, China, September 4, 2026 – Baidu, Inc. (“Baidu” or the “Company”) (Nasdaq: BIDU; HKEX: 9888 (HKD Counter) and
89888 (RMB Counter)), a leading AI company with strong Internet foundation, today announced that the Company’s Class A ordinary shares traded on The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) will be
included in the Shanghai-Hong Kong Stock Connect program, effective September 7, 2026.
The inclusion is pursuant to the Notice of the Adjustment of
the Eligible Stocks in Hong Kong Stock Connect under the Shanghai-Hong Kong Stock Connect issued by the Shanghai Stock Exchange on September 4, 2026.
Following the inclusion, eligible investors in the Chinese Mainland will have direct access to the trading of Baidu’s Class A ordinary shares
through the Shanghai-Hong Kong Stock Connect. The inclusion marks an important step toward expanding the Company’s reach among Chinese Mainland investors and is expected to further diversify its investor base and enhance the liquidity of its
shares.
Baidu appreciates the continued support of its shareholders and investors and remains committed to driving sustainable growth and creating
long-term value for shareholders.
About the Shanghai-Hong Kong Stock Connect
The Shanghai-Hong Kong Stock Connect established a
two-way
trading link between the Shanghai Stock Exchange and the
Hong Kong Stock Exchange. The stock connect allows qualified Chinese Mainland investors to access eligible Hong Kong shares (Southbound) as well as Hong Kong and overseas investors to trade eligible
A-shares
(Northbound), subject to a certain amount of daily quota.
About Baidu
Founded in 2000, Baidu’s mission is to make the complicated world simpler through technology. Baidu is a leading AI company with strong Internet
foundation, trading on Nasdaq under “BIDU” and HKEX under “9888”. One Baidu ADS represents eight Class A ordinary shares.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private
Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,”
“plans,” “believes,” “estimates,” “confident” and similar statements. Among other things, Baidu’s and other parties’ strategic and operational plans, contain forward-looking statements.
Baidu may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in announcements made on the website of the Hong Kong Stock Exchange, in its annual report to shareholders, in
press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Baidu’s beliefs and
expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including
but not limited to the following: Baidu’s growth strategies; its future business development, including development of new products and services; its ability to attract and retain users and customers; competition in the Chinese Internet search
and newsfeed market; competition for online marketing customers; changes in the Company’s revenues and certain cost or expense items as a percentage of its revenues; the outcome of ongoing, or any future, litigation or arbitration, including
those relating to intellectual property rights; the expected growth of the Chinese-language Internet search and newsfeed market and the number of Internet and broadband users in China; Chinese governmental policies relating to the Internet and
Internet search providers, and general economic conditions in China and elsewhere. Further information regarding these and other risks is included in the Company’s annual report on Form
20-F
and other documents filed with the Securities and Exchange Commission, and announcements on the website of the Hong Kong Stock Exchange. Baidu does not undertake any obligation to update any forward-looking statement, except as required under
applicable law. All information provided in this press release and in the attachments is as of the date of the press release, and Baidu undertakes no duty to update such information, except as required under applicable law.
SOURCE Baidu, Inc.
Investor Relations, Baidu, Inc., Tel:
+86-10-5992-8888,
Email: ir@baidu.com
----- d947999dex992.htm -----
EX-99.2
3
d947999dex992.htm
EX-99.2
EX-99.2
Exhibit 99.2
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no
representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
Under our weighted voting rights structure, our share capital comprises Class A ordinary shares and Class B ordinary shares. Each Class A
ordinary share entitles the holder to exercise one vote, and each Class B ordinary share entitles the holder to exercise 10 votes, respectively, on all matters subject to the vote at general meetings of the Company. Shareholders and prospective
investors should be aware of the potential risks of investing in a company with a weighted voting rights structure. Our American depositary shares, each representing eight of our Class A ordinary shares, are listed on Nasdaq in the United
States under the symbol BIDU.
Baidu, Inc.
百度集團股份有限公司
(A company controlled through weighted voting rights and incorporated in the
Cayman Islands with limited liability)
(Stock Codes: 9888 (HKD counter) and 89888 (RMB counter))
VOLUNTARY ANNOUNCEMENT
BAIDU ANNOUNCES UPCOMING INCLUSION OF
ITS CLASS A ORDINARY SHARES
IN THE SHANGHAI-HONG KONG STOCK CONNECT
This announcement is made by Baidu, Inc. (the “
Company
”) on a voluntary basis to provide its shareholders and potential investors with
information in relation to the latest development of the Company.
The Company is pleased to announce that the Class A ordinary shares of the Company
have been included as eligible stocks under the Shanghai-Hong Kong Stock Connect with effect from September 7, 2026, pursuant to
《關於滬港通下港股通標的調整的通知》
(Notice of the Adjustment of the Eligible Stocks in Hong Kong Stock Connect under the Shanghai-Hong Kong Stock Connect*) issued by the Shanghai Stock Exchange on September 4, 2026.
The Company believes that its inclusion in the Shanghai-Hong Kong Stock Connect marks an important step toward expanding the Company’s reach among
Chinese Mainland investors. The inclusion is expected to further diversify its investor base and enhance the liquidity of its shares.
The Company would
like to thank the continued support of its shareholders and investors and remains committed to executing its long-term strategy, driving sustainable growth and creating long-term value for its shareholders.
1
Shareholders of the Company and potential investors are advised to exercise caution when dealing in the
shares or other securities of the Company.
By order of the Board
Baidu, Inc.
Mr. Robin Yanhong Li
Chairman of the Board
and Chief Executive Officer
Hong Kong, September 4, 2026
As at the date of this announcement, the board of directors of the Company comprises Mr. Robin Yanhong Li as director, and Mr. Yuanqing Yang,
Mr. Jixun Foo, Ms. Sandy Ran Xu and Ms. Xiaodan Liu as independent directors.
*
For identification purposes only
2
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每次领取产生一条记录,重新决策追加一条并以 supersedes 指向被替代的记录(ADR 0014)。
这条决策早于决策账本(2026-10-08 起逐条追加),没有追加记录。